342 E Allen St

Baxley, GA 31513

$99,500B+

None bd · 1.0 ba · 1,156 sqft · Built 1945 · MultiFamily · Price Change · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,837/mo
• Mortgage (P&I): −$522
• Tax + insurance: −$106
• HOA: −$0
• Vac / Maint / Mgmt: −$386
• Net cashflow: $823/mo
• Annual: $9,881/yr
• Cap rate: 16.22%
• Cash-on-cash: 35.47%
• DSCR: 2.58
• 1% rule: 1.85%
• Cash to close: $27,860

Investor read

• This is a ?-bed/1.0-bath multifamily listed at $100k.
• At list price, monthly cash flow is $823 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 80 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#416 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, schools D-.
• Appling County (town): math 35% / reading 30% proficiency, ranked #84 of 174 in GA (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 90 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4 units permitted in Appling County in 2024 (0 in 5+ unit buildings).
• Appling County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $16k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $100k implies a 53% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 16.2% vs local median 3.0% in Baxley — 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 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1945 — 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.