607 College St

Sumner, GA 31789

$179,900D

3 bd · 1.0 ba · 1,890 sqft · Built 1940 · SingleFamily · Under Contract · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,379/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$229
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $-83/mo
• Annual: $-991/yr
• Cap rate: 5.74%
• Cash-on-cash: -1.97%
• DSCR: 0.91
• 1% rule: 0.77%
• Cash to close: $50,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $-83 ($-991/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (8.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (23.3% below list).
• It's been on market 55 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $138k (23.3% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 56/100 on livability (#488 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Worth County (town): math 28% / reading 34% proficiency, ranked #91 of 174 in GA (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 26 units permitted in Worth County in 2024 (0 in 5+ unit buildings).
• Worth County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $128k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.