10 Parker Ln

Jasper, GA 30143

$44,995B-

2 bd · 1.0 ba · 600 sqft · Built 1973 · Manufactured · Under Contract · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$42
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $907/mo
• Annual: $10,885/yr
• Cap rate: 30.48%
• Cash-on-cash: 86.40%
• DSCR: 4.84
• 1% rule: 3.33%
• Cash to close: $12,599

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $45k.
• At list price, monthly cash flow is $907 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#44 in GA, #4,976 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities D-, commute F, employment F.
• Pickens County (rural): math 35% / reading 35% proficiency, ranked #59 of 174 in GA (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jasper Middle School (math 32% / reading 40%, grade F, #178 of 470 statewide, top 39%, 628 students, 48% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 713 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 260 units permitted in Pickens County in 2024 (0 in 5+ unit buildings).
• Current owner paid $18k; list at $45k implies a 157% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 30.5% vs local median 2.8% in Jasper — 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

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.