1305 4th Street Ext

Jesup, GA 31545

$100,000B-

3 bd · 2.0 ba · 2,540 sqft · Built 1970 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,689/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$305
• HOA: −$0
• Vac / Maint / Mgmt: −$355
• Net cashflow: $504/mo
• Annual: $6,049/yr
• Cap rate: 13.84%
• Cash-on-cash: 26.97%
• DSCR: 2.20
• 1% rule: 1.69%
• Cash to close: $28,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 19 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• 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 69/100 on livability (#112 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Wayne County (rural): math 35% / reading 35% proficiency, ranked #68 of 174 in GA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Jesup Elementary School (math 32% / reading 22%, grade F, #689 of 1,228 statewide, top 58%, 680 students, 75% FRL); Wayne County High School (math 32% / reading 40%, grade F, #74 of 424 statewide, top 18%, 1,467 students, 75% FRL) — zoned schools average 75% FRL vs 60% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: 172 active listings in the ZIP; 163 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).
• Wayne County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 98% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.8% vs local median 4.5% in Jesup — 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

• Built in 1970 — 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?
• 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?
• 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.