87 St. Moritz Dr

Pine Mountain, GA 31822

$99,000D-

3 bd · 1.5 ba · 1,104 sqft · Built 1973 · SingleFamily · Active · 315 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,343/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$165
• HOA: −$535
• Vac / Maint / Mgmt: −$282
• Net cashflow: $-158/mo
• Annual: $-1,898/yr
• Cap rate: 4.38%
• Cash-on-cash: -6.85%
• DSCR: 0.70
• 1% rule: 1.36%
• Cash to close: $27,720

Investor read

• This is a 3-bed/1.5-bath single-family listed at $99k. Condition is rated fair.
• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $76k (23.1% below list).
• Meets the 1% rule at list price ($1k rent vs $99k).
• It's been on market 315 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $76k (23.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#372 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: amenities F, commute F, employment D-.
• Harris County (rural): math 41% / reading 43% proficiency, ranked #27 of 174 in GA (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Park Elementary School (math 37% / reading 37%, grade F, #485 of 1,228 statewide, top 41%, 560 students, 56% FRL); Creekside School (math 39% / reading 43%, grade F, #135 of 470 statewide, top 29%, 858 students, 30% FRL); Harris County High School (math 30% / reading 39%, grade F, #88 of 424 statewide, top 22%, 1,703 students, 25% FRL).
• Watch-outs: HOA is 40% of rent.
• Market conditions: 125 active listings in the ZIP; 189 units permitted in Harris County in 2024 (0 in 5+ unit buildings).
• Harris County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 4.4% vs local median 1.6% in Pine Mountain — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 315 days. Have you received any prior offers? Is the seller open to a 23% 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 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of replacement
• Moderate: kitchen appliances — outdated and in need of replacement
• Moderate: bathroom fixtures — dated and in need of replacement
• Minor: landscaping — overgrown vegetation