1244 Northview Ext

Thomson, GA 30824

$179,900C

3 bd · 2.0 ba · 1,452 sqft · Built 2009 · SingleFamily · Pending · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,865/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$242
• HOA: −$0
• Vac / Maint / Mgmt: −$392
• Net cashflow: $288/mo
• Annual: $3,456/yr
• Cap rate: 8.21%
• Cash-on-cash: 6.86%
• DSCR: 1.31
• 1% rule: 1.04%
• Cash to close: $50,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• It's been on market 29 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#357 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Mcduffie County (rural): math 12% / reading 19% proficiency, ranked #156 of 174 in GA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Thomson-Mcduffie Middle School (math 9% / reading 20%, grade F, #403 of 470 statewide, top 86%, 782 students, 89% FRL); Thomson High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 986 students, 89% FRL) — zoned schools average 89% FRL vs 65% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 191 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 64 units permitted in McDuffie County in 2024 (0 in 5+ unit buildings).
• McDuffie County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 11 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.
• Climate carrying-cost: major wind risk, 57% 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.
• Cap rate 8.2% vs local median 3.8% in Thomson — 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

• 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.