4653 Whispering Pnes #449

Buford, GA 30518

$112,900B-

4 bd · 2.0 ba · 2,052 sqft · Built 1996 · SingleFamily · Under Contract · 191 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,299/mo
• Mortgage (P&I): −$592
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$483
• Net cashflow: $1,036/mo
• Annual: $12,429/yr
• Cap rate: 17.30%
• Cash-on-cash: 39.32%
• DSCR: 2.75
• 1% rule: 2.04%
• Cash to close: $31,612

Investor read

• This is a 4-bed/2.0-bath single-family listed at $113k.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $113k).
• It's been on market 191 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $781 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#96 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, cost of living B+; Watch: amenities F, commute F.
• Hall County (rural): math 28% / reading 33% proficiency, ranked #81 of 174 in GA (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Friendship Elementary School (math 34% / reading 34%, grade F, #554 of 1,228 statewide, top 46%, 684 students, 56% FRL); C. W. Davis Middle School (math 35% / reading 39%, grade F, #164 of 470 statewide, top 35%, 794 students, 44% FRL); Flowery Branch High (math 17% / reading 47%, grade F, #110 of 424 statewide, top 28%, 1,363 students, 31% FRL).
• Market conditions: Rents soft (-2.0%/yr); 590 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,274 units permitted in Hall County in 2024 (620 in 5+ unit buildings).
• Hall County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 17.3% vs local median 3.0% in Buford — 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 191 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
• 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.