500 Mount Vernon Ln

Woodstock, GA 30189

$385,000D-

3 bd · 2.0 ba · 2,312 sqft · Built 1998 · SingleFamily · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,559/mo
• Mortgage (P&I): −$2,019
• Tax + insurance: −$236
• HOA: −$56
• Vac / Maint / Mgmt: −$537
• Net cashflow: $-290/mo
• Annual: $-3,478/yr
• Cap rate: 5.39%
• Cash-on-cash: -3.23%
• DSCR: 0.86
• 1% rule: 0.66%
• Cash to close: $107,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $385k.
• At list price, monthly cash flow is $-290 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $334k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $256k (33.5% below list).
• It's been on market 17 days — a 2% lower offer ($379k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $256k (33.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#46 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Cherokee County (suburban): math 46% / reading 48% proficiency, ranked #17 of 174 in GA (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carmel Elementary School (math 49% / reading 48%, grade D, #284 of 1,228 statewide, top 23%, 900 students, 47% FRL); Woodstock Middle School (math 45% / reading 49%, grade D+, #89 of 470 statewide, top 20%, 1,083 students, 39% FRL); Woodstock High School (math 22% / reading 41%, grade F, #122 of 424 statewide, top 30%, 2,044 students, 25% FRL).
• Market conditions: Rents rising (+1.1%/yr); 273 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,665 units permitted in Cherokee County in 2024 (852 in 5+ unit buildings).
• Cherokee County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 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.
• 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 5.4% vs local median 3.4% in Woodstock — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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 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.