22 Modoc Center Rd

Swainsboro, GA 30401

$100,000C-

3 bd · 2.0 ba · 924 sqft · Built 2012 · Manufactured · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $952/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$70
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $158/mo
• Annual: $1,892/yr
• Cap rate: 8.18%
• Cash-on-cash: 6.76%
• DSCR: 1.30
• 1% rule: 0.95%
• Cash to close: $28,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $158 ($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 $95k (4.8% below list).
• It's been on market 21 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (4.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#450 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities F.
• Emanuel County (town): math 27% / reading 30% proficiency, ranked #110 of 174 in GA (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 81 active listings in the ZIP; 76 units permitted in Emanuel County in 2024 (0 in 5+ unit buildings).
• Emanuel County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $68k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.2% vs local median 5.2% in Swainsboro — 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?
• 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.