119 Eaglewood Way

Athens-Clarke County unified government (balance), GA 30606

$197,500D

2 bd · 1.5 ba · 1,122 sqft · Built 1972 · Townhouse · Active · 95 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,727/mo
• Mortgage (P&I): −$1,036
• Tax + insurance: −$756
• HOA: −$167
• Vac / Maint / Mgmt: −$363
• Net cashflow: $-594/mo
• Annual: $-7,129/yr
• Cap rate: 5.27%
• Cash-on-cash: -3.64%
• DSCR: 0.84
• 1% rule: 0.87%
• Cash to close: $55,300

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $198k. Condition is rated average.
• At list price, monthly cash flow is $-594 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (43.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (12.6% below list).
• It's been on market 95 days — a 9% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (43.5% below list) — sets the bar for cash-flow.
• 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.
• Clarke County (urban): math 17% / reading 21% proficiency, ranked #146 of 174 in GA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Barrow Elementary School (math 42% / reading 42%, grade F, #380 of 1,228 statewide, top 33%, 452 students, 83% FRL); Clarke Middle School (math 22% / reading 32%, grade F, #271 of 470 statewide, top 60%, 708 students, 83% FRL); Clarke Central High School (math 15% / reading 24%, grade F, #238 of 424 statewide, top 57%, 1,836 students, 83% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents rising (+1.6%/yr); 528 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 51d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,172 units permitted in Clarke County in 2024 (876 in 5+ unit buildings).
• Clarke County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 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.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 5.3% vs local median 3.4% in Athens-Clarke County unified government (balance) — 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 33% of the median local income ($63k/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 95 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?

Repairs flagged (vision-AI assessment)

• Minor: ceiling fan — light switches are visible
• Minor: light switches — light switches are visible