8924 County rd 97

Georgetown-Quitman County, GA 36310

$149,900C-

2 bd · 1.0 ba · 700 sqft · Built 1993 · Manufactured · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,337/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$281
• Net cashflow: $20/mo
• Annual: $246/yr
• Cap rate: 6.46%
• Cash-on-cash: 0.59%
• DSCR: 1.03
• 1% rule: 0.89%
• Cash to close: $41,972

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $150k.
• At list price, monthly cash flow is $20 ($246/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 $134k (10.8% below list).
• It's been on market 47 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $134k (10.8% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Henry County (rural): math 21% / reading 45% proficiency, ranked #55 of 129 in AL (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Abbeville Elementary School (math 8% / reading 22%, grade F, #508 of 627 statewide, top 84%, 379 students, 82% FRL); Headland Middle School (math 16% / reading 58%, grade F, #73 of 257 statewide, top 29%, 576 students, 47% FRL); Abbeville High School (math 8% / reading 22%, grade F, #216 of 305 statewide, top 72%, 305 students, 88% FRL) — zoned schools average 73% FRL vs 54% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 71 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• Henry County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 96% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 2.8% in Georgetown-Quitman County — 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

• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 11% 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.
• 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.