5472-5474 June Dr SW

Austell, GA 30106

$300,000C+

None bd · None ba · — sqft · Built 1967 · MultiFamily · Active · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,600/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$500
• HOA: −$0
• Vac / Maint / Mgmt: −$756
• Net cashflow: $771/mo
• Annual: $9,249/yr
• Cap rate: 9.38%
• Cash-on-cash: 11.01%
• DSCR: 1.49
• 1% rule: 1.20%
• Cash to close: $84,000

Investor read

• This is a 2 × 2-bed/1-bath units multifamily listed at $300k. Condition is rated good.
• At list price, monthly cash flow is $771 ($9k/yr) — positive. Per door: $385/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• It's been on market 101 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $273k (9.0% below list) — sets the bar for market timing.
• 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 67/100 on livability (#175 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools D-, amenities F.
• Cobb County (suburban): math 39% / reading 45% proficiency, ranked #25 of 174 in GA (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.3%/yr); 184 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,625 units permitted in Cobb County in 2024 (389 in 5+ unit buildings).
• Cobb County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 17y 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 $45k; list at $300k implies a 568% 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.
• Cap rate 9.4% vs local median 4.7% in Austell — 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.
• At $3,600/mo this rent would consume 63% of the median local household income ($69k/yr) (locally 907% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.