None

Chatsworth, GA 30705

$210,000F

3 bd · 2.0 ba · 1,550 sqft · Built 1994 · Manufactured · Pending · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,800/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$350
• HOA: −$0
• Vac / Maint / Mgmt: −$378
• Net cashflow: $-29/mo
• Annual: $-350/yr
• Cap rate: 6.13%
• Cash-on-cash: -0.60%
• DSCR: 0.97
• 1% rule: 0.86%
• Cash to close: $58,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $210k. Condition is rated average.
• At list price, monthly cash flow is $-29 ($-350/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (14.3% below list).
• It's been on market 58 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $180k (14.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#37 in GA, #4,588 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Murray County (other): math 25% / reading 31% proficiency, ranked #107 of 174 in GA (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Chatsworth Elementary School (math 21% / reading 24%, grade F, #803 of 1,228 statewide, top 66%, 679 students, 72% FRL); Gladden Middle School (math 26% / reading 30%, grade F, #265 of 470 statewide, top 57%, 548 students, 68% FRL); Murray County High School (math 10% / reading 32%, grade F, #225 of 424 statewide, top 54%, 1,102 students, 65% FRL) — zoned schools at 68% FRL track the district average.
• Market conditions: 281 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 125 units permitted in Murray County in 2024 (5 in 5+ unit buildings).
• Murray County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Cap rate 6.1% vs local median 3.6% in Chatsworth — 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 58 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Worn appearance
• Minor: Bathtub and sink — Appears dated