106 Missed Ln

Sparta, GA 31087

$9,900D

3 bd · 2.0 ba · 1,248 sqft · Built 1987 · Manufactured · Under Contract · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,359/mo
• Mortgage (P&I): −$52
• Tax + insurance: −$36
• HOA: −$0
• Vac / Maint / Mgmt: −$285
• Net cashflow: $986/mo
• Annual: $11,828/yr
• Cap rate: 125.77%
• Cash-on-cash: 426.71%
• DSCR: 19.99
• 1% rule: 13.72%
• Cash to close: $2,772

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $10k.
• At list price, monthly cash flow is $986 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• It's been on market 44 days — a 3% lower offer ($10k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $10k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $68 of loan paydown is wiped out by about $297 of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#383 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: schools F, amenities F, commute F.
• Hancock County (rural): math 3% / reading 12% proficiency, ranked #173 of 174 in GA (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: property tax is 3.8% of price.
• Market conditions: 116 active listings in the ZIP; 28 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• Hancock County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $10k (50%) 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.
• 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.