93 Saint James Pl

Sharpsburg, GA 30277

$299,000D

3 bd · 1.0 ba · 1,732 sqft · Built 1994 · SingleFamily · Under Contract · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,332/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$344
• HOA: −$0
• Vac / Maint / Mgmt: −$490
• Net cashflow: $-69/mo
• Annual: $-832/yr
• Cap rate: 6.01%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• 1% rule: 0.78%
• Cash to close: $83,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $299k.
• At list price, monthly cash flow is $-69 ($-832/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (22.0% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $233k (22.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#480 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, employment B; Watch: schools C-, housing D, amenities F.
• Coweta County (rural): math 37% / reading 43% proficiency, ranked #36 of 174 in GA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 166 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 963 units permitted in Coweta County in 2024 (8 in 5+ unit buildings).
• Coweta County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $215k; 39% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 2.8% in Sharpsburg — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.