111 David Ct

Hiram, GA 30141

$310,000D

5 bd · 2.0 ba · 2,016 sqft · Built 1988 · SingleFamily · Active · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,496/mo
• Mortgage (P&I): −$1,626
• Tax + insurance: −$356
• HOA: −$0
• Vac / Maint / Mgmt: −$524
• Net cashflow: $-10/mo
• Annual: $-123/yr
• Cap rate: 6.25%
• Cash-on-cash: -0.14%
• DSCR: 0.99
• 1% rule: 0.81%
• Cash to close: $86,800

Investor read

• This is a 5-bed/2.0-bath single-family listed at $310k.
• At list price, monthly cash flow is $-10 ($-123/yr) — negative.
• To cash-flow at today's rent, offer at most $308k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (19.5% below list).
• It's been on market 80 days — a 6% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $250k (19.5% 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 $9k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#152 in GA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D+, schools D, crime F.
• Paulding County (suburban): math 39% / reading 42% proficiency, ranked #33 of 174 in GA (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 234 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,458 units permitted in Paulding County in 2024 (0 in 5+ unit buildings).
• Paulding County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 15y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: moderate wind risk, 25% 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.
• Cap rate 6.3% vs local median 3.8% in Hiram — 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 34% of the median local income ($87k/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 80 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• 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?
• Crime grade is F 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?
• 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.