156 Shelton Rd

Norwood, GA 30821

$99,156C

3 bd · 2.0 ba · 976 sqft · Built 1982 · SingleFamily · Pending · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $970/mo
• Mortgage (P&I): −$520
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$204
• Net cashflow: $162/mo
• Annual: $1,946/yr
• Cap rate: 8.26%
• Cash-on-cash: 7.01%
• DSCR: 1.31
• 1% rule: 0.98%
• Cash to close: $27,764

Investor read

• This is a 3-bed/2.0-bath single-family listed at $99k.
• At list price, monthly cash flow is $162 ($2k/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 $97k (2.2% below list).
• It's been on market 33 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($686 loan paydown + $1k appreciation (1.5% local appreciation)).
• Location reads 52/100 on livability (#563 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D, amenities F, commute F.
• Warren County (rural): math 10% / reading 20% proficiency, ranked #162 of 174 in GA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Warren County Middle School (math 12% / reading 27%, grade F, #356 of 470 statewide, top 78%, 159 students, 100% FRL); Warren County High School (math 5% / reading 15%, grade F, #353 of 424 statewide, top 86%, 159 students, 100% FRL).
• Market conditions: 7 active listings in the ZIP; 1 units permitted in Warren County in 2024 (0 in 5+ unit buildings).
• Warren County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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 (1.5% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y; extreme-heat days projected 7→17/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 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.
• 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.