301B Fields Avenue Ave

Dalton, GA 30721

$100,000B-

4 bd · 2.0 ba · 1,144 sqft · Built 1959 · MultiFamily · Active · 343 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,297/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$167
• HOA: −$0
• Vac / Maint / Mgmt: −$482
• Net cashflow: $1,124/mo
• Annual: $13,483/yr
• Cap rate: 19.78%
• Cash-on-cash: 48.15%
• DSCR: 3.14
• 1% rule: 2.30%
• Cash to close: $28,000

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $100k. Condition is rated poor.
• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $562/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 343 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#172 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Dalton Public Schools (urban): math 29% / reading 33% proficiency, ranked #93 of 174 in GA (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Blue Ridge Elementary School (math 19% / reading 22%, grade F, #860 of 1,228 statewide, top 70%, 642 students, 87% FRL); Hammond Creek Middle School (1,086 students, 72% FRL); Dalton High School (math 12% / reading 18%, grade F, #294 of 424 statewide, top 70%, 1,382 students, 55% FRL) — zoned schools at 71% FRL track the district average.
• Zoned-school proficiency averages 18% at this address vs 31% district-wide (-13 pts) — the specific schools serving this property underperform the Dalton Public Schools average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 551 active listings in the ZIP; 374 units permitted in Whitfield County in 2024 (35 in 5+ unit buildings).
• Whitfield County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• 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 19.8% vs local median 3.7% in Dalton — 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 343 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1959 — 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?

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — Exposed plumbing and unfinished state
• Major: Bathroom fixtures — Dirty and outdated
• Major: Roof — Visible damage
• Major: Exterior siding — Peeling paint
• Major: Flooring — Dirty and worn-out carpet
• Major: Interior walls/paint — Dirty and peeling paint