235 Gibson Cir

Waynesville, GA 31543

$183,000D-

3 bd · 2.0 ba · 1,264 sqft · Built 2026 · Other · Active · 60 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,154/mo
• Mortgage (P&I): −$960
• Tax + insurance: −$305
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $-353/mo
• Annual: $-4,232/yr
• Cap rate: 3.98%
• Cash-on-cash: -8.26%
• DSCR: 0.63
• 1% rule: 0.63%
• Cash to close: $51,240

Investor read

• This is a 3-bed/2.0-bath other listed at $183k.
• At list price, monthly cash flow is $-353 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (27.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (36.9% below list).
• It's been on market 60 days — a 3% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (36.9% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (5.9% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Brantley County (rural): math 48% / reading 43% proficiency, ranked #26 of 174 in GA (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 43 active listings in the ZIP; 49 units permitted in Brantley County in 2024 (0 in 5+ unit buildings).
• Brantley County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y 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.
• Current owner paid $19k; list at $183k implies a 887% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.0% vs local median 3.2% in Waynesville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 60 days. Have you received any prior offers? Is the seller open to a 37% 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.
• 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.