2401 Huntingdon Chase

Sandy Springs, GA 30350

$194,900D+

3 bd · 2.0 ba · 1,397 sqft · Built 1984 · Condo · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,072/mo
• Mortgage (P&I): −$1,022
• Tax + insurance: −$340
• HOA: −$316
• Vac / Maint / Mgmt: −$435
• Net cashflow: $-40/mo
• Annual: $-484/yr
• Cap rate: 6.04%
• Cash-on-cash: -0.89%
• DSCR: 0.96
• 1% rule: 1.06%
• Cash to close: $54,572

Investor read

• This is a 3-bed/2.0-bath condo listed at $195k.
• At list price, monthly cash flow is $-40 ($-484/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (3.7% below list).
• Meets the 1% rule at list price ($2k rent vs $195k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $188k (3.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#45 in GA) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A-, commute A-; Watch: amenities F, cost of living F.
• Fulton County (suburban): math 49% / reading 53% proficiency, ranked #12 of 174 in GA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Woodland Elementary School (math 45% / reading 46%, grade D-, #323 of 1,228 statewide, top 26%, 968 students, 39% FRL); Sandy Springs Middle School (math 30% / reading 40%, grade F, #191 of 470 statewide, top 41%, 821 students, 59% FRL); North Springs High School (math 64% / reading 24%, grade F, #47 of 424 statewide, top 11%, 1,275 students, 43% FRL).
• Market conditions: Rents soft (-0.3%/yr); 172 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 8y 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.
• Current owner paid $165k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 2.6% in Sandy Springs — 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.