2183 Ramblewood Cir

Redan, GA 30035

$199,900C

3 bd · 2.5 ba · 1,740 sqft · Built 1997 · SingleFamily · Active · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,114/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$422
• HOA: −$0
• Vac / Maint / Mgmt: −$444
• Net cashflow: $200/mo
• Annual: $2,398/yr
• Cap rate: 7.49%
• Cash-on-cash: 4.28%
• DSCR: 1.19
• 1% rule: 1.06%
• Cash to close: $55,972

Investor read

• This is a 3-bed/2.5-bath single-family listed at $200k.
• At list price, monthly cash flow is $200 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• It's been on market 98 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• 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 64/100 on livability (#274 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Dekalb County (suburban): math 19% / reading 28% proficiency, ranked #125 of 174 in GA (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 180 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• DeKalb County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 10 sale attempts; this cycle's ask has dropped $40k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $137k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: moderate wind risk, 24% 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.
• Cap rate 7.5% vs local median 5.4% in Redan — 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 38% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• Crime grade is D 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?
• 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.