541 Mulberry St

Thomaston, GA 30286

$160,000D

3 bd · 2.0 ba · 1,546 sqft · Built 2009 · SingleFamily · Active · 136 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,425/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$243
• HOA: −$0
• Vac / Maint / Mgmt: −$299
• Net cashflow: $44/mo
• Annual: $522/yr
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• 1% rule: 0.89%
• Cash to close: $44,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $44 ($522/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 $142k (10.9% below list).
• It's been on market 136 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#455 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime C-, amenities F, commute F.
• Thomaston-Upson County (rural): math 26% / reading 26% proficiency, ranked #123 of 174 in GA (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Upson-Lee Primary School (1,049 students, 95% FRL); Upson-Lee Middle School (math 22% / reading 32%, grade F, #271 of 470 statewide, top 60%, 927 students, 83% FRL); Upson-Lee High School (math 18% / reading 17%, grade F, #264 of 424 statewide, top 63%, 1,178 students, 70% FRL) — zoned schools average 83% FRL vs 60% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 202 active listings in the ZIP; 111 units permitted in Upson County in 2024 (0 in 5+ unit buildings).
• Upson County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.6% vs local median 4.0% in Thomaston — 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 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• 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.