225 Jasper St

Fairmount, GA 30139

$210,000C+

3 bd · 1.0 ba · 1,185 sqft · Built 1955 · SingleFamily · Pending · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,889/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$271
• HOA: −$0
• Vac / Maint / Mgmt: −$397
• Net cashflow: $120/mo
• Annual: $1,445/yr
• Cap rate: 6.98%
• Cash-on-cash: 2.46%
• DSCR: 1.11
• 1% rule: 0.90%
• Cash to close: $58,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $210k.
• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (10.0% below list).
• It's been on market 102 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $189k (10.0% below list) — sets the bar for 1% rule.
• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#148 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F.
• Gordon County (rural): math 34% / reading 36% proficiency, ranked #65 of 174 in GA (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fairmount Elementary School (math 17% / reading 27%, grade F, #810 of 1,228 statewide, top 69%, 395 students, 66% FRL); Red Bud Middle School (math 32% / reading 34%, grade F, #213 of 470 statewide, top 47%, 824 students, 54% FRL); Sonoraville High School (math 24% / reading 44%, grade F, #93 of 424 statewide, top 23%, 1,142 students, 49% FRL) — zoned schools at 57% FRL track the district average.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 50 active listings in the ZIP; 414 units permitted in Gordon County in 2024 (0 in 5+ unit buildings).
• 19 sale attempts since 19y ago 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.
• Current owner paid $168k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.0% vs local median 3.1% in Fairmount — 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 102 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• Built in 1955 — 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.