142 Ruby St

Cordele, GA 31015

$102,900C+

3 bd · 1.0 ba · 1,008 sqft · Built 2000 · SingleFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,260/mo
• Mortgage (P&I): −$540
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$265
• Net cashflow: $356/mo
• Annual: $4,274/yr
• Cap rate: 10.45%
• Cash-on-cash: 14.84%
• DSCR: 1.66
• 1% rule: 1.22%
• Cash to close: $28,812

Investor read

• This is a 3-bed/1.0-bath single-family listed at $103k.
• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $103k).
• It's been on market 58 days — a 3% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $711 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 53/100 on livability (#556 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime F, amenities F, commute F.
• Crisp County (rural): math 20% / reading 21% proficiency, ranked #143 of 174 in GA (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Crisp County Primary School (math 10% / reading 14%, grade F, #1,041 of 1,228 statewide, top 87%, 996 students, 99% FRL); Crisp County Middle School (math 25% / reading 28%, grade F, #282 of 470 statewide, top 61%, 796 students, 99% FRL); Crisp County High School (math 16% / reading 17%, grade F, #284 of 424 statewide, top 67%, 1,093 students, 99% FRL) — zoned schools average 99% FRL vs 73% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 173 active listings in the ZIP; 21 units permitted in Crisp County in 2024 (0 in 5+ unit buildings).
• Crisp County population projected at -22% 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.4% vs local median 4.1% in Cordele — 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

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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 F 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.