13747 County Road 29

Cave Spring, GA 35960

$65,000B-

3 bd · 2.0 ba · 1,125 sqft · Built 2000 · Manufactured · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $914/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$45
• HOA: −$0
• Vac / Maint / Mgmt: −$192
• Net cashflow: $336/mo
• Annual: $4,032/yr
• Cap rate: 12.50%
• Cash-on-cash: 22.15%
• DSCR: 1.99
• 1% rule: 1.41%
• Cash to close: $18,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $65k.
• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($914 rent vs $65k).
• It's been on market 86 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#340 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B; Watch: amenities F, commute F, employment F.
• Cherokee County (rural): math 21% / reading 45% proficiency, ranked #58 of 129 in AL (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Centre Elementary School (math 28% / reading 54%, grade F, #233 of 627 statewide, top 38%, 647 students, 68% FRL); Centre Middle School (math 24% / reading 45%, grade F, #90 of 257 statewide, top 38%, 457 students, 74% FRL); Cherokee County High School (math 27% / reading 27%, grade F, #90 of 305 statewide, top 35%, 465 students, 63% FRL) — zoned schools average 68% FRL vs 53% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 39 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• Cherokee County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/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 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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.