1467 Gough Spur Rd

Gough, GA 30816

$109,900C-

2 bd · 1.0 ba · 1,064 sqft · Built 1940 · SingleFamily · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $977/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$70
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $126/mo
• Annual: $1,509/yr
• Cap rate: 7.67%
• Cash-on-cash: 4.90%
• DSCR: 1.22
• 1% rule: 0.89%
• Cash to close: $30,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $126 ($2k/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 $98k (11.1% below list).
• It's been on market 41 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (11.1% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($760 loan paydown + $7k appreciation (6.3% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Burke County (town): math 16% / reading 21% proficiency, ranked #148 of 174 in GA (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Waynesboro Primary School (961 students, 100% FRL); Burke County Middle School (math 15% / reading 26%, grade F, #345 of 470 statewide, top 74%, 882 students, 100% FRL); Burke County High School (math 4% / reading 17%, grade F, #348 of 424 statewide, top 83%, 1,170 students, 100% FRL) — zoned schools average 100% FRL vs 72% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 21 active listings in the ZIP; 65 units permitted in Burke County in 2024 (0 in 5+ unit buildings).
• Burke County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $110k implies a 341% gain — meaningful room to come down on a strong offer.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 72% chance of damaging wind over 30y; 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

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 11% 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.