83 Whispering Pnes

Georgetown-Quitman County, GA 39854

$77,500C

1 bd · 1.0 ba · 408 sqft · Built 2019 · Manufactured · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $767/mo
• Mortgage (P&I): −$406
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$161
• Net cashflow: $125/mo
• Annual: $1,501/yr
• Cap rate: 8.23%
• Cash-on-cash: 6.92%
• DSCR: 1.31
• 1% rule: 0.99%
• Cash to close: $21,700

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $78k.
• At list price, monthly cash flow is $125 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $77k (1.0% below list).
• It's been on market 99 days — a 9% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $71k (9.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($536 loan paydown + $3k appreciation (4.1% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Quitman County (town): math 10% / reading 15% proficiency, ranked #184 of 187 in GA (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 94% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Quitman County Elementary (math 8% / reading 12%, grade F, #1,092 of 1,228 statewide, top 91%, 210 students, 100% FRL); Quitman County High School (math 10% / reading 10%, grade F, #353 of 424 statewide, top 86%, 107 students, 100% FRL).
• Market conditions: 80 active listings in the ZIP; 12 units permitted in Quitman County in 2024 (0 in 5+ unit buildings).
• Quitman County population projected at -42% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 3y ago 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 (4.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.2% vs local median 2.8% in Georgetown-Quitman County — 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 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• 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.