116 Edwards St

Bremen, GA 30110

$219,900D+

3 bd · 3.5 ba · 1,664 sqft · Built 1935 · SingleFamily · Active · 150 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,736/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$380
• HOA: −$0
• Vac / Maint / Mgmt: −$365
• Net cashflow: $-162/mo
• Annual: $-1,946/yr
• Cap rate: 5.77%
• Cash-on-cash: -1.87%
• DSCR: 0.92
• 1% rule: 0.79%
• Cash to close: $61,572

Investor read

• This is a 3-bed/3.5-bath single-family listed at $220k.
• At list price, monthly cash flow is $-162 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (13.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (21.1% below list).
• It's been on market 150 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $174k (21.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#97 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Bremen City (town): math 72% / reading 68% proficiency, ranked #3 of 174 in GA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: flood insurance adds $66/mo; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 148 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 225 units permitted in Haralson County in 2024 (0 in 5+ unit buildings).
• Haralson County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 17 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.
• Current owner paid $75k; list at $220k implies a 193% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 3.2% in Bremen — 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 150 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1935 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?