265 Aldora St

Aldora, GA 30204

$35,000B-

2 bd · 1.0 ba · 456 sqft · Built 1969 · Manufactured · Under Contract · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,050/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$29
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $617/mo
• Annual: $7,403/yr
• Cap rate: 27.44%
• Cash-on-cash: 75.54%
• DSCR: 4.36
• 1% rule: 3.00%
• Cash to close: $9,800

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $35k.
• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#196 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools C-, amenities F, commute F.
• Lamar County (town): math 21% / reading 27% proficiency, ranked #132 of 174 in GA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 102 active listings in the ZIP; 129 units permitted in Lamar County in 2024 (0 in 5+ unit buildings).
• Lamar County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 15y 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 $25k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 59% 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.

Questions for listing agent

• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.