2 bd · 1.0 ba ·
934 sqft ·
Built 1920
· SingleFamily
· Active
· 269 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$878/mo
Mortgage (P&I)
−$241
Tax + insurance
−$52
HOA
−$0
Vac / Maint / Mgmt
−$184
Net cashflow
$401/mo
Annual
$4,816/yr
Cap rate
16.79%
Cash-on-cash
37.48%
DSCR
2.67
1% rule
1.91%
Cash to close
$12,852
Investor read
This is a 2-bed/1.0-bath single-family listed at $46k.
At list price, monthly cash flow is $401 ($5k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($878 rent vs $46k).
It's been on market 269 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $317 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
Location reads 62/100 on livability (#296 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+; Watch: amenities F, commute F, employment D-.
Wilkes County (rural): math 23% / reading 25% proficiency, ranked #135 of 174 in GA (top 78%) — 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: Washington-Wilkes Middle School (math 19% / reading 31%, grade F, #291 of 470 statewide, top 64%, 297 students, 92% FRL) — zoned schools average 92% FRL vs 74% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
Market conditions: 69 active listings in the ZIP; 27 units permitted in Wilkes County in 2024 (0 in 5+ unit buildings).
Wilkes County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
2 sale attempts since 2y ago; this cycle's ask has dropped $24k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.
Climate carrying-cost: major wind risk, 43% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 16.8% vs local median 2.6% in Washington — 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
It's been on market 269 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Built in 1920 — 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?
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.
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· Data 2 days agocashflowre.app · 2026-05-29