15 Brutis Dr

Rock Spring, GA 30739

$245,000D

3 bd · 2.0 ba · 1,317 sqft · Built 1999 · SingleFamily · Under Contract · 216 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,832/mo
• Mortgage (P&I): −$1,285
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$385
• Net cashflow: $-87/mo
• Annual: $-1,046/yr
• Cap rate: 5.87%
• Cash-on-cash: -1.52%
• DSCR: 0.93
• 1% rule: 0.75%
• Cash to close: $68,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $245k.
• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (25.2% below list).
• It's been on market 216 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $183k (25.2% 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 $7k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Catoosa County (suburban): math 36% / reading 41% proficiency, ranked #49 of 174 in GA (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodstation Elementary School (math 42% / reading 47%, grade F, #336 of 1,228 statewide, top 29%, 400 students, 42% FRL); Heritage Middle School (math 44% / reading 52%, grade C-, #80 of 470 statewide, top 17%, 882 students, 31% FRL); Heritage High School (math 38% / reading 45%, grade F, #52 of 424 statewide, top 12%, 1,242 students, 23% FRL).
• Market conditions: 58 active listings in the ZIP; 848 units permitted in Catoosa County in 2024 (256 in 5+ unit buildings).
• Catoosa County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 3.6% in Rock Spring — 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

• 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 216 days. Have you received any prior offers? Is the seller open to a 25% 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.
• 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.
• 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.