108 Indigo Cir

Homer, GA 30547

$210,000C-

2 bd · 2.5 ba · 1,582 sqft · Built 2022 · Townhouse · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,622/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$278
• HOA: −$0
• Vac / Maint / Mgmt: −$341
• Net cashflow: $-98/mo
• Annual: $-1,175/yr
• Cap rate: 5.73%
• Cash-on-cash: -2.00%
• DSCR: 0.91
• 1% rule: 0.77%
• Cash to close: $58,800

Investor read

• This is a 2-bed/2.5-bath townhouse listed at $210k.
• At list price, monthly cash flow is $-98 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (22.8% below list).
• It's been on market 40 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $162k (22.8% below list) — sets the bar for 1% rule.
• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#178 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 D-.
• Banks County (rural): math 29% / reading 37% proficiency, ranked #75 of 174 in GA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Banks County Primary School (706 students, 56% FRL); Banks County Middle School (math 29% / reading 40%, grade F, #196 of 470 statewide, top 42%, 641 students, 54% FRL); Banks County High School (math 2% / reading 27%, grade F, #297 of 424 statewide, top 74%, 857 students, 47% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 91 active listings in the ZIP; 102 units permitted in Banks County in 2024 (0 in 5+ unit buildings).
• Banks County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 4y 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.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.7% vs local median 2.3% in Homer — 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 40 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• 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.