6859 S Lakewood Ter S

Douglasville, GA 30135

$154,900B

3 bd · 2.0 ba · 1,391 sqft · Built 1986 · Townhouse · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,044/mo
• Mortgage (P&I): −$812
• Tax + insurance: −$308
• HOA: −$33
• Vac / Maint / Mgmt: −$429
• Net cashflow: $461/mo
• Annual: $5,535/yr
• Cap rate: 9.87%
• Cash-on-cash: 12.76%
• DSCR: 1.57
• 1% rule: 1.32%
• Cash to close: $43,372

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $155k.
• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#82 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime F, amenities F.
• Douglas County (suburban): math 23% / reading 35% proficiency, ranked #92 of 174 in GA (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Arbor Station Elementary School (math 26% / reading 28%, grade F, #689 of 1,228 statewide, top 58%, 559 students, 66% FRL); Chapel Hill High School (math 16% / reading 32%, grade F, #203 of 424 statewide, top 48%, 1,609 students, 48% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: Rents flat; 610 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 595 units permitted in Douglas County in 2024 (72 in 5+ unit buildings).
• Douglas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 14y 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.
• 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 9.9% vs local median 4.5% in Douglasville — 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F 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.
• 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.