514 S Broad St

Toccoa, GA 30577

$178,900D

3 bd · 1.5 ba · 1,101 sqft · Built 1982 · SingleFamily · Active · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,508/mo
• Mortgage (P&I): −$938
• Tax + insurance: −$211
• HOA: −$0
• Vac / Maint / Mgmt: −$317
• Net cashflow: $42/mo
• Annual: $508/yr
• Cap rate: 6.58%
• Cash-on-cash: 1.01%
• DSCR: 1.05
• 1% rule: 0.84%
• Cash to close: $50,092

Investor read

• This is a 3-bed/1.5-bath single-family listed at $179k.
• At list price, monthly cash flow is $42 ($508/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 $151k (15.7% below list).
• It's been on market 73 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $151k (15.7% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (6.2% local appreciation)).
• Location reads 68/100 on livability (#131 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Stephens County (rural): math 34% / reading 34% proficiency, ranked #74 of 174 in GA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Liberty Elementary School (567 students, 75% FRL); Stephens County Middle School (math 29% / reading 31%, grade F, #243 of 470 statewide, top 53%, 860 students, 75% FRL); Stephens County High School (math 18% / reading 34%, grade F, #175 of 424 statewide, top 42%, 1,142 students, 46% FRL).
• Market conditions: 228 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 52 units permitted in Stephens County in 2024 (0 in 5+ unit buildings).
• Stephens County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 12y 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.
• Current owner paid $75k; list at $179k implies a 139% gain — meaningful room to come down on a strong offer.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.6% vs local median 3.4% in Toccoa — 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 73 days. Have you received any prior offers? Is the seller open to a 16% 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.
• 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?
• 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.
• 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.