687 Majestic Dr

Bloomingdale, GA 31312

$376,129D-

4 bd · 2.5 ba · 2,371 sqft · Built 2026 · SingleFamily · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,994/mo
• Mortgage (P&I): −$1,972
• Tax + insurance: −$627
• HOA: −$25
• Vac / Maint / Mgmt: −$629
• Net cashflow: $-259/mo
• Annual: $-3,113/yr
• Cap rate: 5.47%
• Cash-on-cash: -2.96%
• DSCR: 0.87
• 1% rule: 0.80%
• Cash to close: $105,316

Investor read

• This is a 4-bed/2.5-bath single-family listed at $376k.
• At list price, monthly cash flow is $-259 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $339k (10.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $299k (20.4% below list).
• It's been on market 62 days — a 6% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $299k (20.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#344 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Effingham County (rural): math 49% / reading 48% proficiency, ranked #16 of 174 in GA (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 399 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 836 units permitted in Effingham County in 2024 (46 in 5+ unit buildings).
• Effingham County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe wind risk, 95% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% vs local median 4.1% in Bloomingdale — 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 35% of the median local income ($102k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 62 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.