227 N Whitehead St

Warrenton, GA 30828

$139,900C-

3 bd · 2.0 ba · 1,994 sqft · Built 1957 · SingleFamily · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,100/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $-10/mo
• Annual: $-123/yr
• Cap rate: 6.21%
• Cash-on-cash: -0.31%
• DSCR: 0.99
• 1% rule: 0.79%
• Cash to close: $39,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $-10 ($-123/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (21.4% below list).
• It's been on market 41 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (21.4% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($967 loan paydown + $10k appreciation (7.2% local appreciation)).
• Location reads 57/100 on livability (#460 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment 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: Freeman Elementary School (math 8% / reading 12%, grade F, #1,092 of 1,228 statewide, top 91%, 344 students, 99% FRL); 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).
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 62% 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1957 — 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 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.