2096 Boar Tusk Rd NE

Milstead, GA 30012

$189,900D

2 bd · 1.0 ba · 1,072 sqft · Built 1957 · SingleFamily · Active · 169 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,480/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$235
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $-62/mo
• Annual: $-746/yr
• Cap rate: 5.90%
• Cash-on-cash: -1.40%
• DSCR: 0.94
• 1% rule: 0.78%
• Cash to close: $53,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $190k.
• At list price, monthly cash flow is $-62 ($-746/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (22.1% below list).
• It's been on market 169 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $148k (22.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Rockdale County (suburban): math 14% / reading 29% proficiency, ranked #136 of 174 in GA (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hightower Trail Elementary School (math 27% / reading 32%, grade F, #633 of 1,228 statewide, top 54%, 533 students, 81% FRL); Conyers Middle School (math 9% / reading 24%, grade F, #388 of 470 statewide, top 83%, 1,031 students, 78% FRL); Rockdale County High School (math 12% / reading 17%, grade F, #315 of 424 statewide, top 76%, 2,369 students, 64% FRL).
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 281 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 483 units permitted in Rockdale County in 2024 (0 in 5+ unit buildings).
• Rockdale County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts; this cycle's ask has dropped $30k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $81k; list at $190k implies a 135% 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 169 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Built in 1957 — 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.
• 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.