119 Hunt Dr NE

Calhoun, GA 30701

$259,900D

3 bd · 1.0 ba · 2,046 sqft · Built 1950 · SingleFamily · Pending · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,942/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$254
• HOA: −$0
• Vac / Maint / Mgmt: −$408
• Net cashflow: $-83/mo
• Annual: $-990/yr
• Cap rate: 5.91%
• Cash-on-cash: -1.36%
• DSCR: 0.94
• 1% rule: 0.75%
• Cash to close: $72,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $260k.
• At list price, monthly cash flow is $-83 ($-990/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (25.3% below list).
• It's been on market 40 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $194k (25.3% 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 $8k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#129 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime C-, amenities F, commute F.
• Calhoun City (town): math 44% / reading 42% proficiency, ranked #39 of 174 in GA (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Calhoun Primary School (879 students, 66% FRL); Calhoun Middle School (math 47% / reading 48%, grade C-, #84 of 470 statewide, top 19%, 623 students, 58% FRL); Calhoun High School (math 21% / reading 43%, grade F, #110 of 424 statewide, top 28%, 1,274 students, 55% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.5%/yr); 404 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 414 units permitted in Gordon County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $97k; list at $260k implies a 168% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 4.1% in Calhoun — 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.
• This rent runs 36% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 40 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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.
• Schools are F-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.