9081 E Oglethorpe Hwy

Midway, GA 31320

$104,895B-

4 bd · 1.0 ba · 1,453 sqft · Built 1946 · Other · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,255/mo
• Mortgage (P&I): −$550
• Tax + insurance: −$136
• HOA: −$0
• Vac / Maint / Mgmt: −$473
• Net cashflow: $1,095/mo
• Annual: $13,143/yr
• Cap rate: 18.82%
• Cash-on-cash: 44.75%
• DSCR: 2.99
• 1% rule: 2.15%
• Cash to close: $29,371

Investor read

• This is a 4-bed/1.0-bath other listed at $105k. Condition is rated poor.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• It's been on market 27 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#219 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Liberty County (urban): math 19% / reading 28% proficiency, ranked #133 of 174 in GA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Liberty Elementary School (math 23% / reading 23%, grade F, #797 of 1,228 statewide, top 65%, 737 students, 65% FRL); Midway Middle School (math 18% / reading 39%, grade F, #260 of 470 statewide, top 56%, 707 students, 65% FRL).
• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 211 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 471 units permitted in Liberty County in 2024 (0 in 5+ unit buildings).
• Liberty County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 7y 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 $30k; list at $105k implies a 250% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.8% vs local median 4.3% in Midway — 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.
• This rent runs 35% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exterior siding — Significant damage and peeling
• Major: Roof — Aged metal roof
• Major: Landscaping — Overgrown vegetation and unkempt yard