710 Smith St

Vidalia, GA 30474

$173,000C-

3 bd · 1.5 ba · 1,111 sqft · Built 1972 · SingleFamily · Active · 125 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,636/mo
• Mortgage (P&I): −$907
• Tax + insurance: −$102
• HOA: −$0
• Vac / Maint / Mgmt: −$344
• Net cashflow: $284/mo
• Annual: $3,403/yr
• Cap rate: 8.26%
• Cash-on-cash: 7.03%
• DSCR: 1.31
• 1% rule: 0.95%
• Cash to close: $48,440

Investor read

• This is a 3-bed/1.5-bath single-family listed at $173k.
• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (5.4% below list).
• It's been on market 125 days — a 12% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $152k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#377 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Vidalia City (town): math 24% / reading 27% proficiency, ranked #126 of 174 in GA (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sally Dailey Meadows Elementary School (math 31% / reading 25%, grade F, #673 of 1,228 statewide, top 55%, 647 students, 86% FRL); J. R. Trippe Middle School (math 21% / reading 32%, grade F, #282 of 470 statewide, top 61%, 531 students, 90% FRL); Vidalia Comprehensive High School (math 8% / reading 12%, grade F, #365 of 424 statewide, top 88%, 732 students, 53% FRL) — zoned schools average 76% FRL vs 61% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 109 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 33 units permitted in Toombs County in 2024 (0 in 5+ unit buildings).
• Toombs County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $16k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.3% vs local median 3.9% in Vidalia — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 36% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.