290 Kari Glen Dr

Brooks, GA 30215

$355,000C-

3 bd · 3.0 ba · 1,789 sqft · Built 1989 · SingleFamily · Under Contract · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,774/mo
• Mortgage (P&I): −$1,862
• Tax + insurance: −$256
• HOA: −$0
• Vac / Maint / Mgmt: −$582
• Net cashflow: $74/mo
• Annual: $888/yr
• Cap rate: 6.54%
• Cash-on-cash: 0.89%
• DSCR: 1.04
• 1% rule: 0.78%
• Cash to close: $99,400

Investor read

• This is a 3-bed/3.0-bath single-family listed at $355k.
• At list price, monthly cash flow is $74 ($888/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 $277k (21.9% below list).
• It's been on market 32 days — a 3% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $277k (21.9% 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 $11k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#91 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F, commute F.
• Fayette County (suburban): math 52% / reading 60% proficiency, ranked #7 of 174 in GA (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Whitewater Middle School (math 55% / reading 65%, grade B, #41 of 470 statewide, top 9%, 864 students, 20% FRL); Whitewater High School (math 32% / reading 62%, grade D-, #37 of 424 statewide, top 9%, 1,387 students, 18% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: Rents rising (+3.2%/yr); 306 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 323 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).
• Fayette County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 0.9% in Brooks — 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 32 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.