1541 Turman Rd

Bowman, GA 30624

$220,000D

3 bd · 2.0 ba · 1,368 sqft · Built 2009 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,244/mo
• Mortgage (P&I): −$1,154
• Tax + insurance: −$267
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $-439/mo
• Annual: $-5,266/yr
• Cap rate: 3.90%
• Cash-on-cash: -8.55%
• DSCR: 0.62
• 1% rule: 0.57%
• Cash to close: $61,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $220k.
• At list price, monthly cash flow is $-439 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (35.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (43.5% below list).
• It's been on market 40 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (43.5% below list) — sets the bar for 1% rule.
• In year one you build about $22k of equity ($2k loan paydown + $21k appreciation (9.4% local appreciation)).
• Location reads 56/100 on livability (#502 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime D-, amenities F, commute F.
• Elbert County (rural): math 26% / reading 25% proficiency, ranked #124 of 174 in GA (top 71%) — 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: Elbert County Elementary School (math 40% / reading 26%, grade F, #567 of 1,228 statewide, top 47%, 656 students, 85% FRL); Elbert County Middle School (math 23% / reading 27%, grade F, #291 of 470 statewide, top 64%, 929 students, 85% FRL); Elbert County High School (math 17% / reading 12%, grade F, #315 of 424 statewide, top 76%, 875 students, 58% FRL) — zoned schools average 76% FRL vs 61% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 23 active listings in the ZIP; 77 units permitted in Elbert County in 2024 (0 in 5+ unit buildings).
• Elbert County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $13k; list at $220k implies a 1625% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/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 40 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
• 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 D 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.
• 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.