335 N Fayette Dr

South Fulton, GA 30214

$207,700B

4 bd · 3.0 ba · 2,363 sqft · Built 1983 · SingleFamily · Pending · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,694/mo
• Mortgage (P&I): −$1,089
• Tax + insurance: −$410
• HOA: −$0
• Vac / Maint / Mgmt: −$566
• Net cashflow: $629/mo
• Annual: $7,548/yr
• Cap rate: 9.93%
• Cash-on-cash: 12.98%
• DSCR: 1.58
• 1% rule: 1.30%
• Cash to close: $58,156

Investor read

• This is a 4-bed/3.0-bath single-family listed at $208k.
• At list price, monthly cash flow is $629 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $208k).
• It's been on market 57 days — a 3% lower offer ($201k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $201k (3.0% 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: North Fayette Elementary School (math 31% / reading 39%, grade F, #523 of 1,228 statewide, top 43%, 603 students, 62% FRL); Flat Rock Middle School (math 35% / reading 55%, grade D, #103 of 470 statewide, top 23%, 883 students, 46% FRL); Sandy Creek High School (math 23% / reading 42%, grade F, #104 of 424 statewide, top 25%, 1,188 students, 43% FRL) — zoned schools average 50% FRL vs 21% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 38% at this address vs 56% district-wide (-18 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; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 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.
• Current owner paid $130k; list at $208k implies a 60% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $58k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.9% vs local median 4.6% in South Fulton — 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 36% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.
• 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.