103 Grady St

Thomson, GA 30824

$320,000B-

9 bd · 3.9 ba · 4,784 sqft · Built 1965 · MultiFamily · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,980/mo
• Mortgage (P&I): −$1,678
• Tax + insurance: −$533
• HOA: −$0
• Vac / Maint / Mgmt: −$836
• Net cashflow: $933/mo
• Annual: $11,193/yr
• Cap rate: 9.79%
• Cash-on-cash: 12.49%
• DSCR: 1.56
• 1% rule: 1.24%
• Cash to close: $89,600

Investor read

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $320k. Condition is rated average.
• At list price, monthly cash flow is $933 ($11k/yr) — positive. Per door: $311/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• It's been on market 41 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $310k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#357 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Mcduffie County (rural): math 12% / reading 19% proficiency, ranked #156 of 174 in GA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Thomson Elementary School (math 17% / reading 22%, grade F, #878 of 1,228 statewide, top 75%, 292 students, 90% FRL); Thomson-Mcduffie Middle School (math 9% / reading 20%, grade F, #403 of 470 statewide, top 86%, 782 students, 89% FRL); Thomson High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 986 students, 89% FRL) — zoned schools average 89% FRL vs 65% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 193 active listings in the ZIP; 64 units permitted in McDuffie County in 2024 (0 in 5+ unit buildings).
• McDuffie County population projected at -18% 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 $90k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.8% vs local median 3.8% in Thomson — 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 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1965 — 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.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Slight wear and tear.
• Minor: Bathroom fixtures — Older style and need updating.
• Moderate: Exterior siding — Weathered and discolored, needs repainting or replacement.
• Minor: Carpeted floors — Worn and could be replaced with hardwood or tile for a fresh look.
• Minor: Paint — Faded in some areas, could be refreshed with a fresh coat of paint.
• Major: Landscaping — Overgrown and needs trimming and planting to improve curb appeal.