723 Ruby St

Marietta, GA 30066

$225,000C

3 bd · 1.0 ba · 975 sqft · Built 1954 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,985/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$158
• HOA: −$0
• Vac / Maint / Mgmt: −$417
• Net cashflow: $230/mo
• Annual: $2,760/yr
• Cap rate: 7.52%
• Cash-on-cash: 4.38%
• DSCR: 1.19
• 1% rule: 0.88%
• Cash to close: $63,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $225k.
• At list price, monthly cash flow is $230 ($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 $198k (11.8% below list).
• It's been on market 38 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $198k (11.8% 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 $7k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#7 in GA, #976 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Marietta City (urban): math 37% / reading 38% proficiency, ranked #55 of 174 in GA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lockheed Elementary School (math 17% / reading 13%, grade F, #981 of 1,228 statewide, top 80%, 736 students, 85% FRL); Marietta Middle School (math 36% / reading 37%, grade F, #167 of 470 statewide, top 38%, 1,316 students, 62% FRL); Marietta High School (math 20% / reading 15%, grade F, #264 of 424 statewide, top 63%, 2,626 students, 55% FRL).
• Zoned-school proficiency averages 23% at this address vs 38% district-wide (-14 pts) — the specific schools serving this property underperform the Marietta City average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-0.4%/yr); 443 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,625 units permitted in Cobb County in 2024 (389 in 5+ unit buildings).
• Cobb County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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 $120k; list at $225k implies a 88% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.5% vs local median 3.2% in Marietta — 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

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.