148 Robertson Ave

Tallapoosa, GA 30176

$159,000C+

3 bd · 1.5 ba · 1,044 sqft · Built 1972 · SingleFamily · Pending · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,463/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$122
• HOA: −$0
• Vac / Maint / Mgmt: −$307
• Net cashflow: $201/mo
• Annual: $2,407/yr
• Cap rate: 7.81%
• Cash-on-cash: 5.41%
• DSCR: 1.24
• 1% rule: 0.92%
• Cash to close: $44,520

Investor read

• This is a 3-bed/1.5-bath single-family listed at $159k.
• At list price, monthly cash flow is $201 ($2k/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 $146k (8.0% below list).
• It's been on market 39 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (8.0% below list) — sets the bar for 1% rule.
• In year one you build about $343 of equity ($1k loan paydown + $-756 appreciation (-0.5% local appreciation)).
• Location reads 70/100 on livability (#95 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Haralson County (rural): math 36% / reading 30% proficiency, ranked #76 of 174 in GA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 74 active listings in the ZIP; 225 units permitted in Haralson County in 2024 (0 in 5+ unit buildings).
• Haralson County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 7 sale attempts since 7y ago; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $159k implies a 231% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.5% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.8% vs local median 3.0% in Tallapoosa — 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 39 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Built in 1972 — 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?
• 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.