587 Wynmeadow Ct

Mountain Park, GA 30087

$265,500C-

5 bd · 3.0 ba · 3,686 sqft · Built 2000 · SingleFamily · Pending · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,973/mo
• Mortgage (P&I): −$1,392
• Tax + insurance: −$765
• HOA: −$39
• Vac / Maint / Mgmt: −$624
• Net cashflow: $152/mo
• Annual: $1,829/yr
• Cap rate: 6.98%
• Cash-on-cash: 2.46%
• DSCR: 1.11
• 1% rule: 1.12%
• Cash to close: $74,340

Investor read

• This is a 5-bed/3.0-bath single-family listed at $266k.
• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $266k).
• It's been on market 76 days — a 6% lower offer ($250k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $250k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#54 in GA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: schools D, amenities D-, commute F.
• Dekalb County (suburban): math 19% / reading 28% proficiency, ranked #125 of 174 in GA (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: property tax is 3.0% of price.
• Market conditions: Rents rising (+1.3%/yr); 249 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• DeKalb County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 17 sale attempts since 9y ago; this cycle's ask has dropped $102k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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 7.0% vs local median 3.9% in Mountain Park — 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 37% of the median local income ($96k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.