7513 Cole Ln

South Fulton, GA 30349

$347,000C-

4 bd · 2.5 ba · 2,798 sqft · Built 2000 · SingleFamily · Active · 116 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,632/mo
• Mortgage (P&I): −$1,820
• Tax + insurance: −$601
• HOA: −$0
• Vac / Maint / Mgmt: −$553
• Net cashflow: $-341/mo
• Annual: $-4,095/yr
• Cap rate: 5.11%
• Cash-on-cash: -4.21%
• DSCR: 0.81
• 1% rule: 0.76%
• Cash to close: $97,160

Investor read

• This is a 4-bed/2.5-bath single-family listed at $347k.
• At list price, monthly cash flow is $-341 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (17.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (24.2% below list).
• It's been on market 116 days — a 9% lower offer ($316k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $263k (24.2% below list) — sets the bar for 1% rule.
• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: Rents flat; 651 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 7 sale attempts; this cycle's ask has dropped $28k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $285k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $2,632/mo this rent would consume 47% of the median local household income ($67k/yr) (locally 4258% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 116 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• 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.
• 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.