1734 Fort Morris Rd

Richmond Hill, GA 31320

$175,000B

8 bd · 4.0 ba · 2,500 sqft · Built 2000 · Other · Active · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,376/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$292
• HOA: −$0
• Vac / Maint / Mgmt: −$499
• Net cashflow: $668/mo
• Annual: $8,010/yr
• Cap rate: 10.87%
• Cash-on-cash: 16.35%
• DSCR: 1.73
• 1% rule: 1.36%
• Cash to close: $49,000

Investor read

• This is a 8-bed/4.0-bath other listed at $175k.
• At list price, monthly cash flow is $668 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 61 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#122 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, schools B+; Watch: amenities F, commute F, health & safety F.
• Liberty County (urban): math 19% / reading 28% proficiency, ranked #133 of 174 in GA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 211 active listings in the ZIP; solid renter incomes; 471 units permitted in Liberty County in 2024 (0 in 5+ unit buildings).
• Liberty County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts; this cycle's ask has dropped $25k (12%) 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 $49k cash investment doubles in ~8 years — after that, you're playing with house money.
• 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 10.9% vs local median 4.1% in Richmond Hill — 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.
• This rent runs 37% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.