57 Carrington Hill Subdivision Ln

Douglas, GA 31642

$74,000B

3 bd · 2.0 ba · 1,728 sqft · Built 2006 · SingleFamily · Pending · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,213/mo
• Mortgage (P&I): −$388
• Tax + insurance: −$145
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $426/mo
• Annual: $5,111/yr
• Cap rate: 13.20%
• Cash-on-cash: 24.67%
• DSCR: 2.10
• 1% rule: 1.64%
• Cash to close: $20,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $74k.
• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• It's been on market 19 days — a 2% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($512 loan paydown + $2k appreciation (3.1% local appreciation)).
• Location reads 64/100 on livability (#252 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, crime D, schools F.
• Atkinson County (rural): math 24% / reading 35% proficiency, ranked #101 of 174 in GA (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 5 active listings in the ZIP; 18 units permitted in Atkinson County in 2024 (0 in 5+ unit buildings).
• Atkinson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.2% vs local median 4.7% in Douglas — 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

• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.