1010 Binghampton Cir

Bogart, GA 30622

$309,900D

3 bd · 3.0 ba · 1,416 sqft · Built 2015 · Townhouse · Active · 75 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,537/mo
• Mortgage (P&I): −$1,625
• Tax + insurance: −$325
• HOA: −$132
• Vac / Maint / Mgmt: −$533
• Net cashflow: $-78/mo
• Annual: $-936/yr
• Cap rate: 5.99%
• Cash-on-cash: -1.08%
• DSCR: 0.95
• 1% rule: 0.82%
• Cash to close: $86,772

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $310k.
• At list price, monthly cash flow is $-78 ($-936/yr) — negative.
• To cash-flow at today's rent, offer at most $296k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $254k (18.1% below list).
• It's been on market 75 days — a 6% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $254k (18.1% 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 70/100 on livability (#103 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Oconee County (rural): math 70% / reading 68% proficiency, ranked #1 of 174 in GA (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 140 active listings in the ZIP; high-income renter base; 335 units permitted in Oconee County in 2024 (0 in 5+ unit buildings).
• Oconee County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 8y ago 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.
• Current owner paid $170k; list at $310k implies a 82% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: 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 75 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• 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?
• 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.