435 Cody Rd

Alma, GA 31554

$139,000C+

4 bd · 3.0 ba · 2,128 sqft · Built 2000 · Manufactured · Under Contract · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,437/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$106
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $300/mo
• Annual: $3,598/yr
• Cap rate: 8.88%
• Cash-on-cash: 9.24%
• DSCR: 1.41
• 1% rule: 1.03%
• Cash to close: $38,920

Investor read

• This is a 4-bed/3.0-bath manufactured listed at $139k.
• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $139k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($961 loan paydown + $4k appreciation (2.6% local appreciation)).
• Location reads 54/100 on livability (#530 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, crime F, amenities F.
• Bacon County (rural): math 48% / reading 36% proficiency, ranked #43 of 174 in GA (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bacon County Primary School (571 students, 90% FRL) — zoned schools average 90% FRL vs 58% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 9 active listings in the ZIP.
• Bacon County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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 F 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?
• 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.