61 Holly Cir

Carrollton, GA 30116

$115,000B-

3 bd · 2.0 ba · 1,344 sqft · Built 1997 · Manufactured · Under Contract · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,714/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$360
• Net cashflow: $658/mo
• Annual: $7,893/yr
• Cap rate: 13.16%
• Cash-on-cash: 24.51%
• DSCR: 2.09
• 1% rule: 1.49%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $115k.
• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#113 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities C-, commute F, employment F.
• Carroll County (rural): math 42% / reading 41% proficiency, ranked #38 of 174 in GA (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sand Hill Elementary School (math 48% / reading 33%, grade F, #419 of 1,228 statewide, top 35%, 696 students, 58% FRL); Bay Springs Middle School (math 42% / reading 42%, grade D-, #126 of 470 statewide, top 28%, 930 students, 57% FRL); Villa Rica High School (math 16% / reading 34%, grade F, #181 of 424 statewide, top 43%, 1,807 students, 56% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: 208 active listings in the ZIP; solid renter incomes; 876 units permitted in Carroll County in 2024 (150 in 5+ unit buildings).
• Carroll County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 5y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.2% vs local median 3.3% in Carrollton — 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

• 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.