357 S 1st St

Colquitt, GA 39837

$115,500C-

2 bd · 2.0 ba · 1,504 sqft · Built 2006 · SingleFamily · Pending · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,072/mo
• Mortgage (P&I): −$606
• Tax + insurance: −$272
• HOA: −$0
• Vac / Maint / Mgmt: −$225
• Net cashflow: $-31/mo
• Annual: $-373/yr
• Cap rate: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• 1% rule: 0.93%
• Cash to close: $32,340

Investor read

• This is a 2-bed/2.0-bath single-family listed at $116k.
• At list price, monthly cash flow is $-31 ($-373/yr) — negative.
• To cash-flow at today's rent, offer at most $110k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (7.2% below list).
• It's been on market 35 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (7.2% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($799 loan paydown + $8k appreciation (6.6% local appreciation)).
• Location reads 68/100 on livability (#136 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Miller County (rural): math 23% / reading 26% proficiency, ranked #131 of 174 in GA (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Miller County Elementary School (math 27% / reading 32%, grade F, #633 of 1,228 statewide, top 54%, 331 students, 100% FRL); Miller County Middle School (math 17% / reading 22%, grade F, #356 of 470 statewide, top 78%, 156 students, 100% FRL); Miller County High School (math 22% / reading 24%, grade F, #207 of 424 statewide, top 49%, 248 students, 100% FRL) — zoned schools average 100% FRL vs 65% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 18 active listings in the ZIP; 2 units permitted in Miller County in 2024 (0 in 5+ unit buildings).
• Miller County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 7% 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.