19 A Little Mountain Vlg

Stonecrest, GA 30294

$165,900C-

2 bd · 1.5 ba · 1,512 sqft · Built 1983 · Condo · Active · 226 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,783/mo
• Mortgage (P&I): −$870
• Tax + insurance: −$361
• HOA: −$23
• Vac / Maint / Mgmt: −$374
• Net cashflow: $155/mo
• Annual: $1,860/yr
• Cap rate: 7.89%
• Cash-on-cash: 5.72%
• DSCR: 1.25
• 1% rule: 1.07%
• Cash to close: $46,452

Investor read

• This is a 2-bed/1.5-bath condo listed at $166k.
• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $166k).
• It's been on market 226 days — a 12% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (12.0% 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 $5k of value loss. Plan a longer hold.
• Location reads: area grade C — 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.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: Rents rising fast (+4.6%/yr); 254 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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.
• 2 sale attempts; this cycle's ask has dropped $9k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $166k implies a 269% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe flood risk; 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 7.9% 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.

Questions for listing agent

• It's been on market 226 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.
• 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.