1209 Phats Way

Hahira, GA 31632

$320,900D

5 bd · 3.0 ba · 2,043 sqft · Built 2026 · SingleFamily · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,347/mo
• Mortgage (P&I): −$1,683
• Tax + insurance: −$535
• HOA: −$47
• Vac / Maint / Mgmt: −$493
• Net cashflow: $-411/mo
• Annual: $-4,929/yr
• Cap rate: 4.76%
• Cash-on-cash: -5.49%
• DSCR: 0.76
• 1% rule: 0.73%
• Cash to close: $89,852

Investor read

• This is a 5-bed/3.0-bath single-family listed at $321k. Condition is rated good.
• At list price, monthly cash flow is $-411 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (18.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (26.9% below list).
• It's been on market 102 days — a 9% lower offer ($292k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $235k (26.9% below list) — sets the bar for 1% rule.
• In year one you build about $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#161 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, health & safety D.
• Lowndes County (rural): math 59% / reading 52% proficiency, ranked #8 of 174 in GA (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hahira Elementary School (math 72% / reading 55%, grade B, #99 of 1,228 statewide, top 8%, 807 students, 40% FRL); Hahira Middle School (math 65% / reading 63%, grade B+, #30 of 470 statewide, top 6%, 859 students, 32% FRL); Lowndes High School (math 69% / reading 51%, grade C+, #14 of 424 statewide, top 3%, 3,201 students, 39% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: 198 active listings in the ZIP; solid renter incomes; 896 units permitted in Lowndes County in 2024 (0 in 5+ unit buildings).
• Lowndes County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$55k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major 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 4.8% vs local median 3.9% in Hahira — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 34% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 102 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.