606 Heritage Dr

Hinesville, GA 31313

$249,000D

3 bd · 2.0 ba · 1,782 sqft · Built 1982 · SingleFamily · Active · 325 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,163/mo
• Mortgage (P&I): −$1,306
• Tax + insurance: −$398
• HOA: −$0
• Vac / Maint / Mgmt: −$454
• Net cashflow: $5/mo
• Annual: $66/yr
• Cap rate: 6.32%
• Cash-on-cash: 0.09%
• DSCR: 1.00
• 1% rule: 0.87%
• Cash to close: $69,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $249k.
• At list price, monthly cash flow is $5 ($66/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 $216k (13.1% below list).
• It's been on market 325 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $216k (13.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#51 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, commute D+, crime F.
• Liberty County (urban): math 19% / reading 28% proficiency, ranked #133 of 174 in GA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.4%/yr); 612 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 471 units permitted in Liberty County in 2024 (0 in 5+ unit buildings).
• Liberty County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 11y 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.
• Climate carrying-cost: severe wind risk, 99% 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 6.3% vs local median 5.2% in Hinesville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 43% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 325 days. Have you received any prior offers? Is the seller open to a 13% 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 D-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.