9243 Seminole Rd

Jonesboro, GA 30236

$279,810D

4 bd · 2.0 ba · 2,086 sqft · Built 1977 · SingleFamily · Active · 137 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,270/mo
• Mortgage (P&I): −$1,467
• Tax + insurance: −$421
• HOA: −$0
• Vac / Maint / Mgmt: −$477
• Net cashflow: $-95/mo
• Annual: $-1,143/yr
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.94
• 1% rule: 0.81%
• Cash to close: $78,347

Investor read

• This is a 4-bed/2.0-bath single-family listed at $280k.
• At list price, monthly cash flow is $-95 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (18.9% below list).
• It's been on market 137 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $227k (18.9% 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 $8k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#63 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime C-, employment D, commute F.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Suder Elementary School (math 15% / reading 5%, grade F, #1,076 of 1,228 statewide, top 89%, 631 students, 90% FRL); M. D. Roberts Middle School (math 22% / reading 37%, grade F, #249 of 470 statewide, top 55%, 852 students, 90% FRL); Jonesboro High School (math 12% / reading 17%, grade F, #315 of 424 statewide, top 76%, 1,535 students, 91% FRL).
• Market conditions: Rents rising (+2.1%/yr); 275 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $97k; list at $280k implies a 188% 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→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 41% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 137 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.