24 Intown Pl

Fayetteville, GA 30214

$188,000C-

2 bd · 3.0 ba · 1,450 sqft · Built 2006 · SingleFamily · Active · 147 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,921/mo
• Mortgage (P&I): −$986
• Tax + insurance: −$322
• HOA: −$255
• Vac / Maint / Mgmt: −$403
• Net cashflow: $-45/mo
• Annual: $-544/yr
• Cap rate: 6.00%
• Cash-on-cash: -1.03%
• DSCR: 0.95
• 1% rule: 1.02%
• Cash to close: $52,640

Investor read

• This is a 2-bed/3.0-bath single-family listed at $188k.
• At list price, monthly cash flow is $-45 ($-544/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (4.3% below list).
• Meets the 1% rule at list price ($2k rent vs $188k).
• It's been on market 147 days — a 12% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (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 $6k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#86 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+, employment B; Watch: amenities F, commute F.
• Fayette County (suburban): math 52% / reading 60% proficiency, ranked #7 of 174 in GA (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fayetteville Elementary School (math 27% / reading 37%, grade F, #582 of 1,228 statewide, top 50%, 485 students, 59% FRL); Bennett'S Mill Middle School (math 24% / reading 51%, grade F, #162 of 470 statewide, top 35%, 891 students, 53% FRL); Fayette County High School (math 15% / reading 42%, grade F, #149 of 424 statewide, top 35%, 1,368 students, 46% FRL) — zoned schools average 53% FRL vs 21% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 56% district-wide (-23 pts) — the specific schools serving this property underperform the Fayette County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.3%/yr); 378 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 323 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).
• Fayette County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 15y ago; this cycle's ask has dropped $52k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: 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 6.0% vs local median 4.3% in Fayetteville — 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

• 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 147 days. Have you received any prior offers? Is the seller open to a 12% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.