395 Wisteria Rd

LaFayette, GA 30728

$188,000D

3 bd · 1.5 ba · 1,400 sqft · Built 1973 · SingleFamily · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,487/mo
• Mortgage (P&I): −$986
• Tax + insurance: −$199
• HOA: −$0
• Vac / Maint / Mgmt: −$312
• Net cashflow: $-10/mo
• Annual: $-122/yr
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• 1% rule: 0.79%
• Cash to close: $52,640

Investor read

• This is a 3-bed/1.5-bath single-family listed at $188k.
• At list price, monthly cash flow is $-10 ($-122/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (20.9% below list).
• It's been on market 102 days — a 9% lower offer ($171k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $149k (20.9% below list) — sets the bar for 1% rule.
• 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 61/100 on livability (#345 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, amenities F, commute F.
• Walker County (rural): math 25% / reading 29% proficiency, ranked #114 of 174 in GA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: North Lafayette Elementary School (math 22% / reading 17%, grade F, #878 of 1,228 statewide, top 75%, 432 students, 68% FRL); Lafayette Middle School (math 23% / reading 27%, grade F, #291 of 470 statewide, top 64%, 575 students, 77% FRL); Lafayette High School (math 5% / reading 15%, grade F, #353 of 424 statewide, top 86%, 1,164 students, 62% FRL).
• Market conditions: 221 active listings in the ZIP; 347 units permitted in Walker County in 2024 (24 in 5+ unit buildings).
• Walker County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 25y ago; this cycle's ask has dropped $17k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $188k implies a 148% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 4.1% in LaFayette — 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 32% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 102 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1973 — 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?
• Crime grade is D 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?
• 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?