9536 Commerce Rd

Athens-Clarke County unified government (balance), GA 30607

$159,999D

2 bd · 1.0 ba · 784 sqft · Built 1946 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,330/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$138
• HOA: −$0
• Vac / Maint / Mgmt: −$279
• Net cashflow: $74/mo
• Annual: $884/yr
• Cap rate: 6.85%
• Cash-on-cash: 1.97%
• DSCR: 1.09
• 1% rule: 0.83%
• Cash to close: $44,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $74 ($884/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 $133k (16.9% below list).
• It's been on market 22 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $133k (16.9% 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 $5k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Jackson County (rural): math 38% / reading 37% proficiency, ranked #50 of 174 in GA (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Jackson Middle School (math 38% / reading 36%, grade F, #164 of 470 statewide, top 35%, 544 students, 63% FRL); East Jackson Comprehensive High School (math 28% / reading 28%, grade F, #155 of 424 statewide, top 37%, 1,343 students, 52% FRL).
• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 91 active listings in the ZIP; 2,167 units permitted in Jackson County in 2024 (59 in 5+ unit buildings).
• Jackson County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 3.4% in Athens-Clarke County unified government (balance) — 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 1946 — 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.
• 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.