122 Pinewood Dr

Gray, GA 31032

$250,000D+

3 bd · 2.0 ba · 1,410 sqft · Built 2026 · SingleFamily · Under Contract · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,050/mo
• Mortgage (P&I): −$1,205
• Tax + insurance: −$383
• HOA: −$0
• Vac / Maint / Mgmt: −$430
• Net cashflow: $31/mo
• Annual: $374/yr
• Cap rate: 6.46%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• 1% rule: 0.89%
• Cash to close: $64,352

Investor read

• This is a 3-bed/2.0-bath single-family listed at $250k. Condition is rated excellent.
• At list price, monthly cash flow is $31 ($374/yr) — positive.
• To cash-flow at today's rent, offer at most $234k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (18.0% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $205k (18.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.9%/yr); year-one equity from $2k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#26 in GA, #3,600 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Jones County (rural): math 32% / reading 34% proficiency, ranked #72 of 174 in GA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Turner Woods Elementary School (math 58% / reading 42%, grade D+, #255 of 1,228 statewide, top 21%, 615 students, 49% FRL); Gray Station Middle School (math 33% / reading 40%, grade F, #167 of 470 statewide, top 38%, 653 students, 45% FRL); Jones County High School (math 19% / reading 26%, grade F, #210 of 424 statewide, top 50%, 1,626 students, 47% FRL).
• Market conditions: 94 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 106 units permitted in Jones County in 2024 (6 in 5+ unit buildings).
• Jones County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Cap rate 6.5% vs local median 4.3% in Gray — 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 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?
• 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.