694 Independence Ave

Pendergrass, GA 30567

$322,500D-

4 bd · 2.5 ba · 1,719 sqft · Built 2017 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,118/mo
• Mortgage (P&I): −$1,691
• Tax + insurance: −$432
• HOA: −$42
• Vac / Maint / Mgmt: −$445
• Net cashflow: $-491/mo
• Annual: $-5,897/yr
• Cap rate: 4.46%
• Cash-on-cash: -6.53%
• DSCR: 0.71
• 1% rule: 0.66%
• Cash to close: $90,300

Investor read

• This is a 4-bed/2.5-bath single-family listed at $322k.
• At list price, monthly cash flow is $-491 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (26.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (34.3% below list).
• It's been on market 17 days — a 2% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $212k (34.3% below list) — sets the bar for 1% rule.
• In year one you build about $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#174 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F.
• Jackson County (rural): math 38% / reading 37% proficiency, ranked #50 of 174 in GA (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Jackson Elementary School (math 36% / reading 30%, grade F, #567 of 1,228 statewide, top 47%, 687 students, 43% FRL); West Jackson Middle School (math 39% / reading 43%, grade F, #135 of 470 statewide, top 29%, 1,502 students, 28% FRL); Jackson County High School (math 20% / reading 17%, grade F, #254 of 424 statewide, top 61%, 1,833 students, 26% FRL).
• Market conditions: 143 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,167 units permitted in Jackson County in 2024 (59 in 5+ unit buildings).
• Jackson County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $153k; list at $322k implies a 110% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$55k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 8→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.5% vs local median 3.6% in Pendergrass — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.