1201 Fairway Oaks

Waleska, GA 30183

$198,000C-

3 bd · 2.0 ba · 1,399 sqft · Built — · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,802/mo
• Mortgage (P&I): −$1,038
• Tax + insurance: −$330
• HOA: −$0
• Vac / Maint / Mgmt: −$378
• Net cashflow: $55/mo
• Annual: $662/yr
• Cap rate: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• 1% rule: 0.91%
• Cash to close: $55,440

Investor read

• This is a 3-bed/2.0-bath single-family listed at $198k. Condition is rated good.
• At list price, monthly cash flow is $55 ($662/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 $180k (9.0% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $180k (9.0% 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 47/100 on livability (#593 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Cherokee County (suburban): math 46% / reading 48% proficiency, ranked #17 of 174 in GA (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: R. M. Moore Elementary School (math 31% / reading 29%, grade F, #627 of 1,228 statewide, top 51%, 1,021 students, 60% FRL); Teasley Middle School (math 28% / reading 37%, grade F, #221 of 470 statewide, top 48%, 1,606 students, 52% FRL); Cherokee High School (math 35% / reading 40%, grade F, #65 of 424 statewide, top 16%, 2,937 students, 38% FRL) — zoned schools average 50% FRL vs 26% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 47% district-wide (-14 pts) — the specific schools serving this property underperform the Cherokee County average; the district grade overstates school quality for this exact location.
• Market conditions: 211 active listings in the ZIP; 2,665 units permitted in Cherokee County in 2024 (852 in 5+ unit buildings).
• Cherokee County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.6% vs local median 1.3% in Waleska — 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.

Questions for listing agent

• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of updating
• Minor: kitchen sink — basic design