The Rutledge Plan

Cartersville, GA 30120

$215,990F

3 bd · 2.5 ba · 1,443 sqft · Built — · SingleFamily · Active · 165 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,072/mo
• Mortgage (P&I): −$1,781
• Tax + insurance: −$566
• HOA: −$0
• Vac / Maint / Mgmt: −$435
• Net cashflow: $-710/mo
• Annual: $-8,518/yr
• Cap rate: 3.78%
• Cash-on-cash: -8.96%
• DSCR: 0.60
• 1% rule: 0.61%
• Cash to close: $95,074

Investor read

• This is a 3-bed/2.5-bath single-family listed at $216k. Condition is rated good.
• At list price, monthly cash flow is $-710 ($-9k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (4.1% below list).
• It's been on market 165 days — a 12% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $190k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#43 in GA, #4,800 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A; Watch: commute F.
• Bartow County (rural): math 33% / reading 34% proficiency, ranked #70 of 174 in GA (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kingston Elementary School (math 15% / reading 21%, grade F, #926 of 1,228 statewide, top 76%, 526 students, 68% FRL); Cass Middle School (math 35% / reading 36%, grade F, #185 of 470 statewide, top 40%, 879 students, 58% FRL); Cass High School (math 17% / reading 25%, grade F, #225 of 424 statewide, top 54%, 1,551 students, 51% FRL).
• Market conditions: Rents soft (-0.2%/yr); 980 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 95d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,618 units permitted in Bartow County in 2024 (265 in 5+ unit buildings).
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 165 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.