25 Fleming Pl

Buckhead, GA 31324

$249,900C

4 bd · 2.0 ba · 1,980 sqft · Built 2021 · Manufactured · Under Contract · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,661/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$244
• HOA: −$0
• Vac / Maint / Mgmt: −$559
• Net cashflow: $547/mo
• Annual: $6,565/yr
• Cap rate: 8.92%
• Cash-on-cash: 9.38%
• DSCR: 1.42
• 1% rule: 1.06%
• Cash to close: $69,972

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $250k.
• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• It's been on market 55 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#334 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools F, amenities F, commute F.
• Bryan County (rural): math 49% / reading 53% proficiency, ranked #14 of 174 in GA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.2%/yr); 482 active listings in the ZIP; high-income renter base; 510 units permitted in Bryan County in 2024 (68 in 5+ unit buildings).
• Bryan County population projected at +64% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $250k implies a 316% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.9% vs local median 3.3% in Buckhead — 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 55 days. Have you received any prior offers? Is the seller open to a 3% 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.
• 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.