81 S Harney St

Camilla, GA 31730

$76,000B+

3 bd · 2.0 ba · 1,809 sqft · Built 1940 · SingleFamily · Pending · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,267/mo
• Mortgage (P&I): −$399
• Tax + insurance: −$242
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $360/mo
• Annual: $4,317/yr
• Cap rate: 13.02%
• Cash-on-cash: 24.04%
• DSCR: 2.07
• 1% rule: 1.67%
• Cash to close: $21,280

Investor read

• This is a 3-bed/2.0-bath single-family listed at $76k.
• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• It's been on market 26 days — a 2% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($525 loan paydown + $760 appreciation (1.0% local appreciation)).
• Location reads 60/100 on livability (#381 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, amenities F, commute F.
• Mitchell County (rural): math 8% / reading 11% proficiency, ranked #167 of 174 in GA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 28 active listings in the ZIP; 25 units permitted in Mitchell County in 2024 (0 in 5+ unit buildings).
• Mitchell County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $18k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $47k; list at $76k implies a 62% gain — meaningful room to come down on a strong offer.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.