3344 Pratt Way

Auburn, GA 30620

$379,900D

5 bd · 3.0 ba · 3,339 sqft · Built 2021 · SingleFamily · Pending · 180 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,816/mo
• Mortgage (P&I): −$1,992
• Tax + insurance: −$757
• HOA: −$60
• Vac / Maint / Mgmt: −$591
• Net cashflow: $-584/mo
• Annual: $-7,012/yr
• Cap rate: 4.45%
• Cash-on-cash: -6.59%
• DSCR: 0.71
• 1% rule: 0.74%
• Cash to close: $106,372

Investor read

• This is a 5-bed/3.0-bath single-family listed at $380k. Condition is rated good.
• At list price, monthly cash flow is $-584 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (27.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (25.9% below list).
• It's been on market 180 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $277k (27.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#41 in GA, #4,693 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Gwinnett County (suburban): math 39% / reading 43% proficiency, ranked #32 of 174 in GA (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harbins Elementary School (math 47% / reading 52%, grade D, #264 of 1,228 statewide, top 23%, 1,412 students, 46% FRL); Mcconnell Middle School (math 39% / reading 51%, grade D, #103 of 470 statewide, top 23%, 2,176 students, 51% FRL); Archer High School (math 32% / reading 33%, grade F, #104 of 424 statewide, top 25%, 3,134 students, 43% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents rising fast (+5.7%/yr); 219 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,607 units permitted in Gwinnett County in 2024 (1,277 in 5+ unit buildings).
• Gwinnett County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts; this cycle's ask has dropped $55k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 40% of the median local income ($84k/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 180 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.