227 South Parrott

Parrott, GA 39877

$60,000B

1 bd · 1.0 ba · 3,000 sqft · Built 1950 · SingleFamily · Active · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,016/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $388/mo
• Annual: $4,658/yr
• Cap rate: 14.06%
• Cash-on-cash: 27.73%
• DSCR: 2.23
• 1% rule: 1.69%
• Cash to close: $16,800

Investor read

• This is a 1-bed/1.0-bath single-family listed at $60k. Condition is rated poor.
• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 69 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• In year one you build about $935 of equity ($415 loan paydown + $520 appreciation (0.9% local appreciation)).
• Location reads 60/100 on livability (#376 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D, amenities F.
• Terrell County (rural): math 7% / reading 13% proficiency, ranked #167 of 174 in GA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cooper-Carver Elementary School (math 11% / reading 13%, grade F, #1,041 of 1,228 statewide, top 87%, 482 students, 100% FRL); Terrell Middle School (math 2% / reading 12%, grade F, #449 of 470 statewide, top 97%, 244 students, 100% FRL); Terrell High School (math 5% / reading 5%, grade F, #394 of 424 statewide, top 97%, 309 students, 100% FRL) — zoned schools average 100% FRL vs 79% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 2 units permitted in Terrell County in 2024 (0 in 5+ unit buildings).
• Terrell County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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 D 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Severe rust and wear
• Major: exterior — Severe rust and wear
• Major: flooring — Exposed wooden floorboards
• Major: interior walls — Exposed wooden beams
• Major: HVAC/mechanicals — No visible HVAC/mechanicals
• Major: landscaping — Overgrown grass and weeds