64 Luther Knight Rd SE

Cartersville, GA 30121

$75,000B-

3 bd · 1.0 ba · 720 sqft · Built 1980 · Land · Active · 421 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,643/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$345
• Net cashflow: $780/mo
• Annual: $9,358/yr
• Cap rate: 18.77%
• Cash-on-cash: 44.56%
• DSCR: 2.98
• 1% rule: 2.19%
• Cash to close: $21,000

Investor read

• This is a 3-bed/1.0-bath land listed at $75k.
• At list price, monthly cash flow is $780 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• It's been on market 421 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#43 in GA, #4,800 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A; Watch: schools D+, commute F.
• Bartow County (rural): math 33% / reading 34% proficiency, ranked #70 of 174 in GA (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 197 active listings in the ZIP; solid renter incomes; 1,618 units permitted in Bartow County in 2024 (265 in 5+ unit buildings).
• 8 sale attempts since 14y ago; this cycle's ask has dropped $45k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $75k implies a 436% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: 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 18.8% vs local median 3.7% in Cartersville — 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

• It's been on market 421 days. Have you received any prior offers? Is the seller open to a 12% 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 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.
• 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.