8047 Dickens Dr

South Fulton, GA 30213

$416,990F

5 bd · 4.0 ba · 2,343 sqft · Built 2026 · SingleFamily · Active · 92 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,984/mo
• Mortgage (P&I): −$2,276
• Tax + insurance: −$723
• HOA: −$58
• Vac / Maint / Mgmt: −$627
• Net cashflow: $-701/mo
• Annual: $-8,409/yr
• Cap rate: 4.36%
• Cash-on-cash: -6.92%
• DSCR: 0.69
• 1% rule: 0.69%
• Cash to close: $121,541

Investor read

• This is a 5-bed/4.0-bath single-family listed at $417k. Condition is rated excellent.
• At list price, monthly cash flow is $-701 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $333k (20.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $298k (28.4% below list).
• It's been on market 92 days — a 9% lower offer ($379k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $298k (28.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads: area grade F — 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: Renaissance Es (math 22% / reading 32%, grade F, #689 of 1,228 statewide, top 58%, 601 students, 100% FRL); Renaissance Middle School (math 22% / reading 27%, grade F, #301 of 470 statewide, top 66%, 1,166 students, 71% FRL); Langston Hughes High School (math 8% / reading 17%, grade F, #336 of 424 statewide, top 80%, 1,964 students, 65% FRL) — zoned schools average 78% FRL vs 41% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 21% at this address vs 51% district-wide (-30 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 (+2.5%/yr); 798 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 70d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 82% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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.
• 4 sale attempts; this cycle's ask has dropped $65k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→18/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 ($94k/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 92 days. Have you received any prior offers? Is the seller open to a 28% 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.
• 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.