201 Locklear Cir

Braswell, GA 30157

$89,900B-

2 bd · 1.5 ba · 732 sqft · Built 1971 · Manufactured · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,493/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$313
• Net cashflow: $623/mo
• Annual: $7,472/yr
• Cap rate: 14.60%
• Cash-on-cash: 29.68%
• DSCR: 2.32
• 1% rule: 1.66%
• Cash to close: $25,172

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $90k.
• At list price, monthly cash flow is $623 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#380 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment D-.
• Paulding County (suburban): math 39% / reading 42% proficiency, ranked #33 of 174 in GA (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sara M. Ragsdale Elementary (math 37% / reading 36%, grade F, #509 of 1,228 statewide, top 42%, 604 students, 56% FRL); Herschel Jones Middle School (math 24% / reading 33%, grade F, #260 of 470 statewide, top 56%, 807 students, 61% FRL) — zoned schools average 58% FRL vs 33% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.8%/yr); 598 active listings in the ZIP; solid renter incomes; 1,458 units permitted in Paulding County in 2024 (0 in 5+ unit buildings).
• Paulding County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 11 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 + 0.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.6% vs local median 3.4% in Braswell — 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

• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.