155 Scoggins St

Summerville, GA 30747

$99,900D+

2 bd · 1.0 ba · 904 sqft · Built 1948 · SingleFamily · Under Contract · 608 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $850/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$178
• Net cashflow: $-36/mo
• Annual: $-426/yr
• Cap rate: 6.66%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• 1% rule: 0.85%
• Cash to close: $27,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $-36 ($-426/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (14.9% below list).
• It's been on market 608 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (14.9% 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 60/100 on livability (#364 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: amenities F, commute F, employment F.
• Chattooga County (rural): math 18% / reading 26% proficiency, ranked #140 of 174 in GA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Leroy Massey Elementary School (math 13% / reading 18%, grade F, #973 of 1,228 statewide, top 80%, 814 students, 83% FRL); Summerville Middle School (math 12% / reading 23%, grade F, #377 of 470 statewide, top 81%, 384 students, 80% FRL); Chattooga High School (math 17% / reading 32%, grade F, #184 of 424 statewide, top 48%, 713 students, 65% FRL).
• Watch-outs: flood insurance adds $66/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 116 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2 units permitted in Chattooga County in 2024 (0 in 5+ unit buildings).
• Chattooga County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $50k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 3.4% in Summerville — 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

• 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 608 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1948 — 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?