4454 Georgia Highway 3

Sunny Side, GA 30223

$204,900D-

3 bd · 1.0 ba · 1,603 sqft · Built 1961 · SingleFamily · Active · 185 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,446/mo
• Mortgage (P&I): −$1,075
• Tax + insurance: −$241
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $-173/mo
• Annual: $-2,078/yr
• Cap rate: 5.28%
• Cash-on-cash: -3.62%
• DSCR: 0.84
• 1% rule: 0.71%
• Cash to close: $57,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $205k.
• At list price, monthly cash flow is $-173 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (14.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (29.4% below list).
• It's been on market 185 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (29.4% 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 44/100 on livability (#604 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Griffin-Spalding County (suburban): math 13% / reading 19% proficiency, ranked #151 of 174 in GA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Beaverbrook Elementary School (math 12% / reading 12%, grade F, #1,041 of 1,228 statewide, top 87%, 298 students, 99% FRL); Cowan Road Middle School (math 8% / reading 14%, grade F, #426 of 470 statewide, top 91%, 543 students, 98% FRL); Griffin High School (math 7% / reading 19%, grade F, #331 of 424 statewide, top 78%, 1,498 students, 98% FRL) — zoned schools average 99% FRL vs 68% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.3%/yr); 440 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 342 units permitted in Spalding County in 2024 (0 in 5+ unit buildings).
• Spalding County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $99k; list at $205k implies a 107% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate 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

• 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 185 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1961 — 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.