6380 Pinin Pl

Cumming, GA 30041

$409,990D-

4 bd · 4.0 ba · 2,247 sqft · Built 2026 · Other · Pending · 144 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,784/mo
• Mortgage (P&I): −$2,150
• Tax + insurance: −$281
• HOA: −$175
• Vac / Maint / Mgmt: −$585
• Net cashflow: $-407/mo
• Annual: $-4,879/yr
• Cap rate: 5.10%
• Cash-on-cash: -4.25%
• DSCR: 0.81
• 1% rule: 0.68%
• Cash to close: $114,797

Investor read

• This is a 4-bed/4.0-bath other listed at $410k.
• At list price, monthly cash flow is $-407 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $338k (17.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $278k (32.1% below list).
• It's been on market 144 days — a 12% lower offer ($361k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $278k (32.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#29 in GA, #3,797 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime A, housing A; Watch: employment C-, amenities D-, commute F.
• Forsyth County (suburban): math 62% / reading 62% proficiency, ranked #5 of 174 in GA (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.3%/yr); 822 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 2,525 units permitted in Forsyth County in 2024 (810 in 5+ unit buildings).
• Forsyth County population projected at +71% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts 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.
• Cap rate 5.1% vs local median 2.8% in Cumming — 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 144 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.