31 Adamson Dr

Cedartown, GA 30125

$795,987C+

None bd · None ba · — sqft · Built 1985 · MultiFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $9,411/mo
• Mortgage (P&I): −$4,174
• Tax + insurance: −$1,327
• HOA: −$0
• Vac / Maint / Mgmt: −$1,976
• Net cashflow: $1,934/mo
• Annual: $23,206/yr
• Cap rate: 9.21%
• Cash-on-cash: 10.41%
• DSCR: 1.46
• 1% rule: 1.18%
• Cash to close: $222,876

Investor read

• This is a multifamily listed at $796k. Condition is rated good.
• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $796k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#253 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Polk County (town): math 21% / reading 28% proficiency, ranked #128 of 174 in GA (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cherokee Elementary School (math 26% / reading 31%, grade F, #668 of 1,228 statewide, top 55%, 625 students, 78% FRL); Cedartown Middle School (math 22% / reading 29%, grade F, #288 of 470 statewide, top 62%, 1,035 students, 78% FRL); Cedartown High School (math 17% / reading 19%, grade F, #258 of 424 statewide, top 62%, 1,453 students, 78% FRL) — zoned schools average 78% FRL vs 62% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 179 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 128 units permitted in Polk County in 2024 (0 in 5+ unit buildings).
• Polk County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; 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 9.2% vs local median 3.2% in Cedartown — 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

• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.