1311 G St

Brunswick, GA 31520

$499,900C

8 bd · 10.0 ba · — sqft · Built 2023 · MultiFamily · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,432/mo
• Mortgage (P&I): −$2,622
• Tax + insurance: −$833
• HOA: −$0
• Vac / Maint / Mgmt: −$1,141
• Net cashflow: $837/mo
• Annual: $10,039/yr
• Cap rate: 8.30%
• Cash-on-cash: 7.17%
• DSCR: 1.32
• 1% rule: 1.09%
• Cash to close: $139,972

Investor read

• This is a 4 × 2.0-bed/2.5-bath units multifamily listed at $500k. Condition is rated good.
• At list price, monthly cash flow is $837 ($10k/yr) — positive. Per door: $209/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $500k).
• It's been on market 54 days — a 3% lower offer ($485k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $485k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#401 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D, amenities F, commute F.
• Glynn County (other): math 37% / reading 42% proficiency, ranked #47 of 174 in GA (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Burroughs-Molette Elementary School (math 21% / reading 14%, grade F, #931 of 1,228 statewide, top 76%, 593 students, 96% FRL); Risley Middle School (math 29% / reading 44%, grade F, #167 of 470 statewide, top 38%, 635 students, 61% FRL); Glynn Academy (math 45% / reading 42%, grade F, #50 of 424 statewide, top 12%, 1,823 students, 41% FRL).
• Market conditions: Rents rising fast (+5.1%/yr); 183 active listings in the ZIP; lower-income renter base — watch delinquency; 734 units permitted in Glynn County in 2024 (136 in 5+ unit buildings).
• Glynn County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 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 + 5.1% rent growth), your $140k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 8.3% vs local median 3.5% in Brunswick — 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.
• At $5,432/mo this rent would consume 163% of the median local household income ($40k/yr) (locally 1406% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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 D 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.