2882 Edgewater St SW

South Fulton, GA 30331

$313,500D-

3 bd · 2.5 ba · 3,239 sqft · Built 2006 · SingleFamily · Active · 114 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,988/mo
• Mortgage (P&I): −$1,644
• Tax + insurance: −$323
• HOA: −$0
• Vac / Maint / Mgmt: −$418
• Net cashflow: $-396/mo
• Annual: $-4,754/yr
• Cap rate: 4.78%
• Cash-on-cash: -5.42%
• DSCR: 0.76
• 1% rule: 0.63%
• Cash to close: $87,780

Investor read

• This is a 3-bed/2.5-bath single-family listed at $314k.
• At list price, monthly cash flow is $-396 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (22.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (36.6% below list).
• It's been on market 114 days — a 9% lower offer ($285k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $199k (36.6% below list) — sets the bar for 1% rule.
• 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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); Sandtown Middle School (math 24% / reading 35%, grade F, #249 of 470 statewide, top 55%, 1,057 students, 57% FRL); Westlake High School (math 27% / reading 5%, grade F, #287 of 424 statewide, top 68%, 2,461 students, 43% FRL) — zoned schools at 43% FRL track the district average.
• Zoned-school proficiency averages 32% at this address vs 51% district-wide (-19 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 rising (+2.6%/yr); 485 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $46k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; list at $314k implies a 102% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wind risk, 25% 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.
• This rent runs 38% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 114 days. Have you received any prior offers? Is the seller open to a 37% 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.