904 Hunting Horn Way

Evans, GA 30809

$285,000D

4 bd · 2.0 ba · 1,835 sqft · Built 1992 · Other · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,187/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$191
• HOA: −$0
• Vac / Maint / Mgmt: −$459
• Net cashflow: $43/mo
• Annual: $514/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• 1% rule: 0.77%
• Cash to close: $79,800

Investor read

• This is a 4-bed/2.0-bath other listed at $285k.
• At list price, monthly cash flow is $43 ($514/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 $219k (23.3% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $219k (23.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#20 in GA, #3,058 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities D+, commute F.
• Columbia County (suburban): math 49% / reading 52% proficiency, ranked #13 of 174 in GA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Riverside Elementary School (math 61% / reading 59%, grade B-, #126 of 1,228 statewide, top 10%, 701 students, 23% FRL); Riverside Middle School (math 60% / reading 62%, grade B+, #36 of 470 statewide, top 8%, 757 students, 19% FRL); Greenbrier High School (math 39% / reading 36%, grade F, #65 of 424 statewide, top 16%, 1,801 students, 12% FRL).
• Market conditions: Rents soft (-0.5%/yr); 516 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,213 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected at +62% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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 $122k; list at $285k implies a 133% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 62% 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 6.5% vs local median 3.7% in Evans — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.