68 Lindsey Lake Rd

Hiram, GA 30157

$280,000D

4 bd · 2.0 ba · 1,632 sqft · Built 1986 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,192/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$291
• HOA: −$0
• Vac / Maint / Mgmt: −$460
• Net cashflow: $-27/mo
• Annual: $-326/yr
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• 1% rule: 0.78%
• Cash to close: $78,400

Investor read

• This is a 4-bed/2.0-bath single-family listed at $280k.
• At list price, monthly cash flow is $-27 ($-326/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (21.7% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $219k (21.7% 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 $8k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#152 in GA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D+, crime F, commute F.
• Paulding County (suburban): math 39% / reading 42% proficiency, ranked #33 of 174 in GA (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nebo Elementary School (math 42% / reading 36%, grade F, #456 of 1,228 statewide, top 38%, 721 students, 54% FRL); South Paulding Middle School (math 26% / reading 40%, grade F, #213 of 470 statewide, top 47%, 481 students, 47% FRL); Paulding County High School (math 19% / reading 37%, grade F, #155 of 424 statewide, top 37%, 2,005 students, 48% FRL) — zoned schools average 50% FRL vs 33% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.8%/yr); 598 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,458 units permitted in Paulding County in 2024 (0 in 5+ unit buildings).
• Paulding County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 9 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.
• Current owner paid $66k; list at $280k implies a 326% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 3.8% in Hiram — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F 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?
• 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.