64 Tanforan Dr

Lakeview, GA 30741

$205,000D

3 bd · 1.0 ba · 1,124 sqft · Built 1950 · SingleFamily · Pending · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,523/mo
• Mortgage (P&I): −$1,075
• Tax + insurance: −$174
• HOA: −$0
• Vac / Maint / Mgmt: −$320
• Net cashflow: $-46/mo
• Annual: $-549/yr
• Cap rate: 6.02%
• Cash-on-cash: -0.96%
• DSCR: 0.96
• 1% rule: 0.74%
• Cash to close: $57,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $205k.
• At list price, monthly cash flow is $-46 ($-549/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (25.7% below list).
• It's been on market 46 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $152k (25.7% below list) — sets the bar for 1% rule.
• 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 69/100 on livability (#106 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F.
• Catoosa County (suburban): math 36% / reading 41% proficiency, ranked #49 of 174 in GA (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Side Elementary School (math 37% / reading 27%, grade F, #582 of 1,228 statewide, top 50%, 508 students, 73% FRL); Lakeview Middle School (math 24% / reading 32%, grade F, #265 of 470 statewide, top 57%, 690 students, 67% FRL); Lakeview-Fort Oglethorpe High School (math 14% / reading 22%, grade F, #258 of 424 statewide, top 62%, 1,023 students, 55% FRL) — zoned schools average 65% FRL vs 41% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 38% district-wide (-12 pts) — the specific schools serving this property underperform the Catoosa County average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+7.4%/yr); 430 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 848 units permitted in Catoosa County in 2024 (256 in 5+ unit buildings).
• Catoosa County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $205k implies a 666% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 4.9% in Lakeview — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 46 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.