46 Ray Roderick Rd

Eastman, GA 31023

$179,000D+

3 bd · 2.0 ba · 1,800 sqft · Built 1990 · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,594/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$187
• HOA: −$0
• Vac / Maint / Mgmt: −$335
• Net cashflow: $133/mo
• Annual: $1,598/yr
• Cap rate: 7.19%
• Cash-on-cash: 3.19%
• DSCR: 1.14
• 1% rule: 0.89%
• Cash to close: $50,120

Investor read

• This is a 3-bed/2.0-bath single-family listed at $179k.
• At list price, monthly cash flow is $133 ($2k/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 $159k (10.9% below list).
• It's been on market 27 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $159k (10.9% below list) — sets the bar for 1% rule.
• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (8.8% local appreciation)).
• Location reads 61/100 on livability (#333 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Dodge County (rural): math 18% / reading 26% proficiency, ranked #139 of 174 in GA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: North Dodge Elementary School (math 25% / reading 25%, grade F, #745 of 1,228 statewide, top 61%, 598 students, 92% FRL) — zoned schools average 92% FRL vs 62% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 71 active listings in the ZIP; 13 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).
• Dodge County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (8.8% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; 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

• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.