5338 Creekview Ln

Forest Park, GA 30260

$235,000D

4 bd · 3.0 ba · 1,836 sqft · Built 2006 · Townhouse · Active · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,157/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$371
• HOA: −$40
• Vac / Maint / Mgmt: −$453
• Net cashflow: $61/mo
• Annual: $734/yr
• Cap rate: 6.61%
• Cash-on-cash: 1.11%
• DSCR: 1.05
• 1% rule: 0.92%
• Cash to close: $65,800

Investor read

• This is a 4-bed/3.0-bath townhouse listed at $235k.
• At list price, monthly cash flow is $61 ($734/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 $216k (8.2% below list).
• It's been on market 80 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $216k (8.2% 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 $7k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#209 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, commute F, employment D-.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Thurgood Marshall Elementary School (math 30% / reading 10%, grade F, #865 of 1,228 statewide, top 71%, 793 students, 90% FRL); Morrow Middle School (math 14% / reading 24%, grade F, #368 of 470 statewide, top 79%, 779 students, 90% FRL); Morrow High School (math 12% / reading 22%, grade F, #277 of 424 statewide, top 67%, 1,980 students, 91% FRL).
• Market conditions: Rents soft (-1.0%/yr); 173 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 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.
• Current owner paid $195k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: moderate wind risk, 26% 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.
• Cap rate 6.6% vs local median 5.2% in Forest Park — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• At $2,157/mo this rent would consume 49% of the median local household income ($53k/yr) (locally 1956% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 80 days. Have you received any prior offers? Is the seller open to a 8% 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.
• 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?
• 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?
• 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.