1038 Church St

Barwick, GA 31720

$49,900B

3 bd · 1.0 ba · 960 sqft · Built 1986 · SingleFamily · Active · 380 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,005/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$49
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $483/mo
• Annual: $5,792/yr
• Cap rate: 17.90%
• Cash-on-cash: 41.45%
• DSCR: 2.84
• 1% rule: 2.01%
• Cash to close: $13,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 380 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($345 loan paydown + $1k appreciation (3.0% local appreciation)).
• Location reads 54/100 on livability (#547 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, crime D-, amenities F.
• Thomas County (rural): math 27% / reading 32% proficiency, ranked #97 of 174 in GA (top 56%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Garrison-Pilcher Elementary School (781 students, 93% FRL); Thomas County Middle School (math 25% / reading 34%, grade F, #249 of 470 statewide, top 55%, 1,714 students, 93% FRL); Thomas County Central High School (math 21% / reading 28%, grade F, #184 of 424 statewide, top 48%, 1,517 students, 77% FRL) — zoned schools average 87% FRL vs 58% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 213 units permitted in Thomas County in 2024 (72 in 5+ unit buildings).
• Thomas County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $30k; list at $50k implies a 66% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; 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

• It's been on market 380 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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.