1321 Old Epworth Rd

Epworth, GA 30541

$202,960C

4 bd · 2.5 ba · 1,937 sqft · Built 1974 · SingleFamily · Active · 127 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,721/mo
• Mortgage (P&I): −$1,064
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$361
• Net cashflow: $146/mo
• Annual: $1,747/yr
• Cap rate: 7.15%
• Cash-on-cash: 3.07%
• DSCR: 1.14
• 1% rule: 0.85%
• Cash to close: $56,829

Investor read

• This is a 4-bed/2.5-bath single-family listed at $203k.
• At list price, monthly cash flow is $146 ($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 $172k (15.2% below list).
• It's been on market 127 days — a 12% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $172k (15.2% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($1k loan paydown + $28 appreciation (0.0% local appreciation)).
• Location reads 61/100 on livability (#354 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, employment B+; Watch: health & safety C-, schools F, amenities F.
• Fannin County (rural): math 40% / reading 39% proficiency, ranked #51 of 174 in GA (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 47 active listings in the ZIP; 375 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).
• 4 sale attempts since 6y ago; this cycle's ask has dropped $37k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; list at $203k implies a 50% gain — meaningful room to come down on a strong offer.
• At projected returns (0.0% appreciation + 3.0% rent growth), your $57k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.2% vs local median 1.1% in Epworth — 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

• It's been on market 127 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1974 — 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.
• 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?
• 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.