1320 Highway 154

Sharpsburg, GA 30277

$300,000D

3 bd · 2.0 ba · 1,886 sqft · Built 1935 · SingleFamily · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,312/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$365
• HOA: −$0
• Vac / Maint / Mgmt: −$486
• Net cashflow: $-112/mo
• Annual: $-1,343/yr
• Cap rate: 5.85%
• Cash-on-cash: -1.60%
• DSCR: 0.93
• 1% rule: 0.77%
• Cash to close: $84,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $300k.
• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (22.9% below list).
• It's been on market 43 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $231k (22.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#480 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, employment B; Watch: housing D, amenities F, commute F.
• Coweta County (rural): math 37% / reading 43% proficiency, ranked #36 of 174 in GA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Willis Road Elementary (math 39% / reading 45%, grade F, #380 of 1,228 statewide, top 33%, 725 students, 23% FRL); Lee Middle School (math 35% / reading 47%, grade F, #135 of 470 statewide, top 29%, 743 students, 34% FRL); East Coweta High School (math 22% / reading 38%, grade F, #135 of 424 statewide, top 32%, 3,212 students, 30% FRL).
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 173 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 963 units permitted in Coweta County in 2024 (8 in 5+ unit buildings).
• Coweta County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 9 sale attempts since 3y ago; this cycle's ask is 13233% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $109k; list at $300k implies a 175% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 2.9% in Sharpsburg — 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 43 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.