2243 Pinewood Dr

Brunswick, GA 31520

$134,500B

3 bd · 1.5 ba · 1,075 sqft · Built 1971 · SingleFamily · Active · 230 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,567/mo
• Mortgage (P&I): −$705
• Tax + insurance: −$109
• HOA: −$0
• Vac / Maint / Mgmt: −$329
• Net cashflow: $423/mo
• Annual: $5,077/yr
• Cap rate: 10.07%
• Cash-on-cash: 13.48%
• DSCR: 1.60
• 1% rule: 1.16%
• Cash to close: $37,660

Investor read

• This is a 3-bed/1.5-bath single-family listed at $134k. Condition is rated fair.
• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• It's been on market 230 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $930 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#401 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D, amenities F, commute F.
• Glynn County (other): math 37% / reading 42% proficiency, ranked #47 of 174 in GA (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Goodyear Elementary School (math 20% / reading 17%, grade F, #922 of 1,228 statewide, top 75%, 489 students, 91% FRL); Jane Macon Middle (math 28% / reading 45%, grade F, #167 of 470 statewide, top 38%, 780 students, 74% FRL); Brunswick High School (math 32% / reading 37%, grade F, #88 of 424 statewide, top 22%, 1,932 students, 61% FRL) — zoned schools average 75% FRL vs 55% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.1%/yr); 283 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 734 units permitted in Glynn County in 2024 (136 in 5+ unit buildings).
• Glynn County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $40k; list at $134k implies a 236% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.1% vs local median 4.1% in Brunswick — 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.
• At $1,567/mo this rent would consume 47% of the median local household income ($40k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 230 days. Have you received any prior offers? Is the seller open to a 12% 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 1971 — 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 D-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 — Signs of wear and discoloration suggest significant damage and potential water damage.
• Major: exterior siding — The siding is visibly worn and in need of repainting or replacement.
• Major: flooring — The flooring is old and worn, indicating a need for replacement.
• Major: HVAC unit — The unit appears old and may need maintenance or replacement to ensure proper functioning.
• Major: interior walls/paint — The walls and paint are in poor condition, requiring freshening up or repainting.
• Major: landscaping — The landscaping is sparse and in need of improvement to enhance curb appeal and value.