108 Fairview Pl

Stonecrest, GA 30281

$149,000B-

3 bd · 2.0 ba · 1,472 sqft · Built 1978 · SingleFamily · Under Contract · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,935/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$332
• HOA: −$0
• Vac / Maint / Mgmt: −$406
• Net cashflow: $416/mo
• Annual: $4,989/yr
• Cap rate: 9.64%
• Cash-on-cash: 11.96%
• DSCR: 1.53
• 1% rule: 1.30%
• Cash to close: $41,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $149k.
• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• It's been on market 21 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $147k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Austin Road Elementary School (math 22% / reading 22%, grade F, #810 of 1,228 statewide, top 69%, 386 students, 65% FRL); Austin Road Middle School (math 15% / reading 35%, grade F, #291 of 470 statewide, top 64%, 542 students, 68% FRL); Woodland High School (math 15% / reading 24%, grade F, #238 of 424 statewide, top 57%, 1,334 students, 42% FRL) — zoned schools average 58% FRL vs 43% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 586 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).
• Henry County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $105k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• 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 9.6% vs local median 5.1% in Stonecrest — 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 33% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1978 — 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.
• 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.