112 Camry Ln

Snellville, GA 30017

$254,000D-

2 bd · 3.0 ba · 1,354 sqft · Built 2002 · Townhouse · Active · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,331/mo
• Mortgage (P&I): −$1,332
• Tax + insurance: −$435
• HOA: −$266
• Vac / Maint / Mgmt: −$489
• Net cashflow: $-191/mo
• Annual: $-2,297/yr
• Cap rate: 5.39%
• Cash-on-cash: -3.23%
• DSCR: 0.86
• 1% rule: 0.92%
• Cash to close: $71,120

Investor read

• This is a 2-bed/3.0-bath townhouse listed at $254k.
• At list price, monthly cash flow is $-191 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (8.2% below list).
• It's been on market 91 days — a 9% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $220k (13.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#169 in GA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A-; Watch: amenities F, commute F.
• Gwinnett County (suburban): math 39% / reading 43% proficiency, ranked #32 of 174 in GA (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grayson Elementary School (math 53% / reading 55%, grade C, #204 of 1,228 statewide, top 17%, 1,009 students, 48% FRL); Bay Creek Middle School (math 30% / reading 43%, grade F, #167 of 470 statewide, top 38%, 1,330 students, 52% FRL); Grayson High School (math 8% / reading 22%, grade F, #297 of 424 statewide, top 74%, 3,284 students, 42% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents rising (+1.7%/yr); 225 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,607 units permitted in Gwinnett County in 2024 (1,277 in 5+ unit buildings).
• Gwinnett County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 10 sale attempts since 9y ago 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: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.4% vs local median 3.9% in Snellville — 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

• 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 91 days. Have you received any prior offers? Is the seller open to a 13% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.