4934 Rapahoe Trl

Union City, GA 30349

$262,500C+

4 bd · 2.5 ba · 2,450 sqft · Built 2007 · SingleFamily · Under Contract · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,439/mo
• Mortgage (P&I): −$1,377
• Tax + insurance: −$438
• HOA: −$42
• Vac / Maint / Mgmt: −$512
• Net cashflow: $71/mo
• Annual: $852/yr
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• 1% rule: 0.93%
• Cash to close: $73,500

Investor read

• This is a 4-bed/2.5-bath single-family listed at $262k.
• At list price, monthly cash flow is $71 ($852/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (7.1% below list).
• It's been on market 72 days — a 6% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $244k (7.1% below list) — sets the bar for 1% rule.
• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Location reads 58/100 on livability (#443 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Fulton County (suburban): math 49% / reading 53% proficiency, ranked #12 of 174 in GA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Amana Academy School (math 47% / reading 52%, grade D, #264 of 1,228 statewide, top 23%, 731 students, 30% FRL, charter); Camp Creek Middle School (math 17% / reading 32%, grade F, #301 of 470 statewide, top 66%, 644 students, 100% FRL); Westlake High School (math 27% / reading 5%, grade F, #287 of 424 statewide, top 68%, 2,461 students, 43% FRL) — zoned schools average 58% FRL vs 41% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 51% district-wide (-21 pts) — the specific schools serving this property underperform the Fulton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 655 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 10y 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 (10.0% appreciation + 0.9% rent growth), your $74k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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 6.6% vs local median 5.4% in Union City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 72 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 F-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 D 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?
• 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.