196 Mattie Ave

Sycamore, GA 31790

$109,900D+

2 bd · 2.0 ba · 1,120 sqft · Built 1956 · SingleFamily · Active · 177 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $995/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $82/mo
• Annual: $990/yr
• Cap rate: 7.19%
• Cash-on-cash: 3.22%
• DSCR: 1.14
• 1% rule: 0.91%
• Cash to close: $30,772

Investor read

• This is a 2-bed/2.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $82 ($990/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 $100k (9.4% below list).
• It's been on market 177 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($760 loan paydown + $2k appreciation (1.6% local appreciation)).
• Location reads 66/100 on livability (#193 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Turner County (town): math 14% / reading 18% proficiency, ranked #158 of 174 in GA (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Turner County Elementary School (math 27% / reading 23%, grade F, #745 of 1,228 statewide, top 61%, 591 students, 100% FRL); Turner County Middle School (math 6% / reading 12%, grade F, #438 of 470 statewide, top 93%, 242 students, 100% FRL); Turner County High School (math 8% / reading 22%, grade F, #297 of 424 statewide, top 74%, 356 students, 100% FRL) — zoned schools average 100% FRL vs 74% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 9 units permitted in Turner County in 2024 (0 in 5+ unit buildings).
• Turner County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $110k implies a 100% gain — meaningful room to come down on a strong offer.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 96% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.