1144 Wolfskin Rd

Athens-Clarke County unified government (balance), GA 30619

$237,500D

3 bd · 2.0 ba · 1,536 sqft · Built 1977 · Manufactured · Under Contract · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,283/mo
• Mortgage (P&I): −$1,245
• Tax + insurance: −$396
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $-627/mo
• Annual: $-7,529/yr
• Cap rate: 3.12%
• Cash-on-cash: -11.32%
• DSCR: 0.50
• 1% rule: 0.54%
• Cash to close: $66,500

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $238k.
• At list price, monthly cash flow is $-627 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (38.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (46.0% below list).
• It's been on market 49 days — a 3% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (46.0% below list) — sets the bar for 1% rule.
• In year one you build about $25k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Oglethorpe County (rural): math 40% / reading 33% proficiency, ranked #58 of 174 in GA (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oglethorpe County Primary School (563 students, 54% FRL); Oglethorpe County Middle School (math 47% / reading 41%, grade D, #113 of 470 statewide, top 24%, 517 students, 59% FRL); Oglethorpe County High School (math 32% / reading 32%, grade F, #110 of 424 statewide, top 28%, 655 students, 51% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 13 active listings in the ZIP; 140 units permitted in Oglethorpe County in 2024 (0 in 5+ unit buildings).
• Oglethorpe County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $28k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $238k implies a 217% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 49 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.