649 Daniel St

Royston, GA 30662

$180,000B+

3 bd · 2.0 ba · 1,846 sqft · Built 1971 · SingleFamily · Under Contract · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,983/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$160
• HOA: −$0
• Vac / Maint / Mgmt: −$416
• Net cashflow: $463/mo
• Annual: $5,550/yr
• Cap rate: 9.38%
• Cash-on-cash: 11.01%
• DSCR: 1.49
• 1% rule: 1.10%
• Cash to close: $50,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• It's been on market 22 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Location reads 58/100 on livability (#421 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A, crime B+; Watch: amenities F, commute F, employment F.
• Franklin County (rural): math 38% / reading 35% proficiency, ranked #61 of 174 in GA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Royston Elementary School (math 54% / reading 38%, grade D-, #316 of 1,228 statewide, top 26%, 493 students, 73% FRL); Franklin County Middle School (math 32% / reading 35%, grade F, #206 of 470 statewide, top 45%, 826 students, 60% FRL).
• Market conditions: 95 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 163 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.4% vs local median 4.0% in Royston — 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 44% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1971 — 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?
• 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.