3085 Highway 53 E

Jasper, GA 30143

$180,000D

2 bd · 1.0 ba · 936 sqft · Built 1940 · SingleFamily · Pending · 158 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $96/mo
• Annual: $1,146/yr
• Cap rate: 6.93%
• Cash-on-cash: 2.27%
• DSCR: 1.10
• 1% rule: 0.83%
• Cash to close: $50,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $96 ($1k/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 $150k (16.7% below list).
• It's been on market 158 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (16.7% below list) — sets the bar for 1% rule.
• 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 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: Tate Elementary School (math 37% / reading 27%, grade F, #582 of 1,228 statewide, top 50%, 482 students, 51% FRL); Pickens County Junior High School (math 35% / reading 38%, grade F, #167 of 470 statewide, top 38%, 611 students, 45% FRL); Pickens County High School (math 34% / reading 28%, grade F, #127 of 424 statewide, top 30%, 1,259 students, 36% FRL) — zoned schools at 44% FRL track the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 726 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).
• 3 sale attempts since 15y ago; this cycle's ask has dropped $40k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 6.9% 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

• It's been on market 158 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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 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?
• 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.