135 White Rd

Fayetteville, GA 30214

$465,000D

5 bd · 6.0 ba · 3,730 sqft · Built 1977 · SingleFamily · Active · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,870/mo
• Mortgage (P&I): −$2,439
• Tax + insurance: −$679
• HOA: −$0
• Vac / Maint / Mgmt: −$813
• Net cashflow: $-60/mo
• Annual: $-722/yr
• Cap rate: 6.14%
• Cash-on-cash: -0.55%
• DSCR: 0.98
• 1% rule: 0.83%
• Cash to close: $130,200

Investor read

• This is a 5-bed/6.0-bath single-family listed at $465k.
• At list price, monthly cash flow is $-60 ($-722/yr) — negative.
• To cash-flow at today's rent, offer at most $454k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $387k (16.8% below list).
• It's been on market 90 days — a 6% lower offer ($437k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $387k (16.8% 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 $14k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#86 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+, employment B; Watch: amenities F, commute F.
• Fayette County (suburban): math 52% / reading 60% proficiency, ranked #7 of 174 in GA (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fayetteville Elementary School (math 27% / reading 37%, grade F, #582 of 1,228 statewide, top 50%, 485 students, 59% FRL); Bennett'S Mill Middle School (math 24% / reading 51%, grade F, #162 of 470 statewide, top 35%, 891 students, 53% FRL); Fayette County High School (math 15% / reading 42%, grade F, #149 of 424 statewide, top 35%, 1,368 students, 46% FRL) — zoned schools average 53% FRL vs 21% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 56% district-wide (-23 pts) — the specific schools serving this property underperform the Fayette County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.3%/yr); 378 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 323 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).
• Fayette County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 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 $267k; list at $465k implies a 74% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 4.3% in Fayetteville — 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 $3,870/mo this rent would consume 52% of the median local household income ($90k/yr) (locally 634% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 90 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1977 — 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 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.