269 Perry Ln

Buchanan, GA 30113

$129,990C

2 bd · 1.5 ba · 1,634 sqft · Built 1960 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,118/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$203
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $-1/mo
• Annual: $-14/yr
• Cap rate: 6.28%
• Cash-on-cash: -0.04%
• DSCR: 1.00
• 1% rule: 0.86%
• Cash to close: $36,397

Investor read

• This is a 2-bed/1.5-bath single-family listed at $130k.
• At list price, monthly cash flow is $-1 ($-14/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (14.0% below list).
• It's been on market 17 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (14.0% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#262 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Haralson County (rural): math 36% / reading 30% proficiency, ranked #76 of 174 in GA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 58 active listings in the ZIP; 225 units permitted in Haralson County in 2024 (0 in 5+ unit buildings).
• Haralson County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 4y 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.
• Current owner paid $60k; list at $130k implies a 117% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 1.9% in Buchanan — 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

• 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?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.