117 Village Green Dr NW

Adairsville, GA 30103

$219,900B-

3 bd · 2.5 ba · 1,560 sqft · Built 2023 · SingleFamily · Active · 111 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,127/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$294
• HOA: −$0
• Vac / Maint / Mgmt: −$447
• Net cashflow: $233/mo
• Annual: $2,800/yr
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• 1% rule: 0.97%
• Cash to close: $61,572

Investor read

• This is a 3-bed/2.5-bath single-family listed at $220k. Condition is rated good.
• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (3.3% below list).
• It's been on market 111 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $200k (9.0% below list) — sets the bar for market timing.
• In year one you build about $23k of equity ($2k loan paydown + $21k appreciation (9.7% local appreciation)).
• Location reads 72/100 on livability (#70 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D-, amenities F, commute F.
• Bartow County (rural): math 33% / reading 34% proficiency, ranked #70 of 174 in GA (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 181 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,618 units permitted in Bartow County in 2024 (265 in 5+ unit buildings).
• 2 sale attempts since 2y ago; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; list at $220k implies a 83% gain — meaningful room to come down on a strong offer.
• At projected returns (9.7% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.6% vs local median 4.1% in Adairsville — 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 33% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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?
• 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.