622 Scoggins St

Summerville, GA 30747

$80,000B

3 bd · 1.5 ba · 1,136 sqft · Built 1978 · SingleFamily · Active · 271 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,055/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$81
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $333/mo
• Annual: $3,996/yr
• Cap rate: 11.29%
• Cash-on-cash: 17.84%
• DSCR: 1.79
• 1% rule: 1.32%
• Cash to close: $22,400

Investor read

• This is a 3-bed/1.5-bath single-family listed at $80k.
• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 271 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#364 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: amenities F, commute F, employment F.
• Chattooga County (rural): math 18% / reading 26% proficiency, ranked #140 of 174 in GA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Leroy Massey Elementary School (math 13% / reading 18%, grade F, #973 of 1,228 statewide, top 80%, 814 students, 83% FRL); Summerville Middle School (math 12% / reading 23%, grade F, #377 of 470 statewide, top 81%, 384 students, 80% FRL); Chattooga High School (math 17% / reading 32%, grade F, #184 of 424 statewide, top 48%, 713 students, 65% FRL).
• Market conditions: 116 active listings in the ZIP; 2 units permitted in Chattooga County in 2024 (0 in 5+ unit buildings).
• Chattooga County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.3% vs local median 3.4% in Summerville — 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 271 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1978 — 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.