1117 Cross Plains Hulett Rd

Fairfield Plantation, GA 30116

$215,000D

3 bd · 2.0 ba · 960 sqft · Built 1975 · Manufactured · Pending · 196 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,661/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$358
• HOA: −$0
• Vac / Maint / Mgmt: −$349
• Net cashflow: $-174/mo
• Annual: $-2,085/yr
• Cap rate: 5.32%
• Cash-on-cash: -3.46%
• DSCR: 0.85
• 1% rule: 0.77%
• Cash to close: $60,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $215k.
• At list price, monthly cash flow is $-174 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (22.8% below list).
• It's been on market 196 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $166k (22.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Carroll County (rural): math 42% / reading 41% proficiency, ranked #38 of 174 in GA (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 208 active listings in the ZIP; solid renter incomes; 876 units permitted in Carroll County in 2024 (150 in 5+ unit buildings).
• Carroll County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 8 sale attempts; this cycle's ask has dropped $60k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.3% vs local median 2.9% in Fairfield Plantation — 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.

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 196 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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.
• 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.
• 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.