4255 Glen Iris Dr

Cumming, GA 30040

$260,000C-

3 bd · 2.5 ba · 1,494 sqft · Built 1999 · Townhouse · Pending · 181 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,355/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$361
• HOA: −$59
• Vac / Maint / Mgmt: −$494
• Net cashflow: $77/mo
• Annual: $927/yr
• Cap rate: 6.65%
• Cash-on-cash: 1.27%
• DSCR: 1.06
• 1% rule: 0.91%
• Cash to close: $72,800

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $260k.
• At list price, monthly cash flow is $77 ($927/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 $235k (9.4% below list).
• It's been on market 181 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $229k (12.0% 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 $8k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#29 in GA, #3,797 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime A, housing A; Watch: employment C-, amenities D-, commute F.
• Forsyth County (suburban): math 62% / reading 62% proficiency, ranked #5 of 174 in GA (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: George W. Whitlow Elementary (math 66% / reading 64%, grade B+, #90 of 1,228 statewide, top 8%, 1,181 students, 22% FRL); Otwell Middle School (math 43% / reading 51%, grade D+, #89 of 470 statewide, top 20%, 1,034 students, 44% FRL); Forsyth Central High School (math 15% / reading 37%, grade F, #175 of 424 statewide, top 42%, 2,372 students, 29% FRL) — zoned schools average 32% FRL vs 15% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 46% at this address vs 62% district-wide (-16 pts) — the specific schools serving this property underperform the Forsyth County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.6%/yr); 903 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,525 units permitted in Forsyth County in 2024 (810 in 5+ unit buildings).
• Forsyth County population projected at +71% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 10 sale attempts since 4y ago; this cycle's ask has dropped $71k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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 6.6% vs local median 2.8% in Cumming — 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 181 days. Have you received any prior offers? Is the seller open to a 12% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.