687 Utoy Ct

Jonesboro, GA 30238

$117,500B

3 bd · 1.0 ba · 975 sqft · Built 1966 · SingleFamily · Active · 160 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,605/mo
• Mortgage (P&I): −$616
• Tax + insurance: −$239
• HOA: −$0
• Vac / Maint / Mgmt: −$337
• Net cashflow: $413/mo
• Annual: $4,952/yr
• Cap rate: 10.51%
• Cash-on-cash: 15.05%
• DSCR: 1.67
• 1% rule: 1.37%
• Cash to close: $32,900

Investor read

• This is a 3-bed/1.0-bath single-family listed at $118k. Condition is rated poor.
• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• It's been on market 160 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $812 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#63 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime C-, employment D, commute F.
• 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: Lee Street Elementary School (math 5% / reading 5%, grade F, #1,160 of 1,228 statewide, top 98%, 545 students, 90% FRL); Jonesboro Middle School (math 17% / reading 22%, grade F, #356 of 470 statewide, top 78%, 951 students, 90% FRL); Jonesboro High School (math 12% / reading 17%, grade F, #315 of 424 statewide, top 76%, 1,535 students, 91% FRL).
• Market conditions: Rents rising (+2.1%/yr); 405 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals lingering (median 37d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 8 sale attempts since 18y ago; this cycle's ask has dropped $38k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $118k implies a 194% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.
• 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 10.5% vs local median 4.9% in Jonesboro — 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.
• This rent runs 31% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Leaves and debris indicate significant damage
• Major: exterior — Overgrown ivy and debris
• Major: landscaping — Overgrown ivy and debris