27 Reynolds St

Newnan, GA 30263

$120,000B

2 bd · 1.0 ba · 854 sqft · Built 1910 · SingleFamily · Active · 120 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,482/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $409/mo
• Annual: $4,914/yr
• Cap rate: 10.39%
• Cash-on-cash: 14.62%
• DSCR: 1.65
• 1% rule: 1.23%
• Cash to close: $33,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $120k. Condition is rated poor.
• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• It's been on market 120 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#184 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, employment B; Watch: crime F, amenities F, commute F.
• Coweta County (rural): math 37% / reading 43% proficiency, ranked #36 of 174 in GA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Welch Elementary School (math 29% / reading 32%, grade F, #620 of 1,228 statewide, top 51%, 948 students, 53% FRL); Lee Middle School (math 35% / reading 47%, grade F, #135 of 470 statewide, top 29%, 743 students, 34% FRL); East Coweta High School (math 22% / reading 38%, grade F, #135 of 424 statewide, top 32%, 3,212 students, 30% FRL) — zoned schools at 39% FRL track the district average.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.9%/yr); 856 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 101d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 963 units permitted in Coweta County in 2024 (8 in 5+ unit buildings).
• Coweta County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Current owner paid $66k; list at $120k implies a 82% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $34k 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 10.4% vs local median 3.8% in Newnan — 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 120 days. Have you received any prior offers? Is the seller open to a 9% 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 1910 — 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 D-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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The roof appears to be in poor condition, with visible wear and tear.
• Major: exterior siding — The exterior siding and paint show significant wear and tear, with peeling paint and visible damage.
• Major: flooring — The flooring appears to be in poor condition, with visible wear and tear.
• Major: interior walls/paint — The interior walls and paint show significant wear and tear, with peeling paint and visible damage.
• Major: HVAC system — The HVAC system appears to be in poor condition, with visible wear and tear.
• Major: landscaping — The landscaping and curb appeal are poor, with overgrown grass and a lack of maintenance.