235 Hillside Oak Ln

Porterdale, GA 30016

$358,500D

6 bd · 3.0 ba · 3,432 sqft · Built 2007 · SingleFamily · Coming Soon · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,992/mo
• Mortgage (P&I): −$1,880
• Tax + insurance: −$430
• HOA: −$25
• Vac / Maint / Mgmt: −$628
• Net cashflow: $29/mo
• Annual: $349/yr
• Cap rate: 6.39%
• Cash-on-cash: 0.35%
• DSCR: 1.02
• 1% rule: 0.83%
• Cash to close: $100,380

Investor read

• This is a 6-bed/3.0-bath single-family listed at $358k.
• At list price, monthly cash flow is $29 ($349/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 $299k (16.5% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $299k (16.5% 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 $11k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#447 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+, housing B; Watch: amenities F, commute F, employment F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Live Oak Elementary (math 17% / reading 25%, grade F, #850 of 1,228 statewide, top 70%, 891 students, 85% FRL); Clements Middle School (math 6% / reading 17%, grade F, #424 of 470 statewide, top 90%, 754 students, 85% FRL); Newton High School (math 8% / reading 12%, grade F, #365 of 424 statewide, top 88%, 2,472 students, 85% FRL) — zoned schools average 85% FRL vs 59% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 419 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 14y ago; this cycle's ask is 125% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $164k; list at $358k implies a 119% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% vs local median 5.1% in Porterdale — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• At $2,992/mo this rent would consume 45% of the median local household income ($80k/yr) (locally 1172% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.