595 Lakeridge Dr SE

Conyers, GA 30094

$215,000D

3 bd · 2.5 ba · 1,954 sqft · Built 1975 · SingleFamily · Under Contract · 82 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,921/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$444
• HOA: −$0
• Vac / Maint / Mgmt: −$403
• Net cashflow: $-54/mo
• Annual: $-653/yr
• Cap rate: 5.99%
• Cash-on-cash: -1.08%
• DSCR: 0.95
• 1% rule: 0.89%
• Cash to close: $60,200

Investor read

• This is a 3-bed/2.5-bath single-family listed at $215k.
• At list price, monthly cash flow is $-54 ($-653/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (10.7% below list).
• It's been on market 82 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $192k (10.7% 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 67/100 on livability (#167 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities D, commute F.
• Rockdale County (suburban): math 14% / reading 29% proficiency, ranked #136 of 174 in GA (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Honey Creek Elementary School (math 12% / reading 22%, grade F, #936 of 1,228 statewide, top 79%, 472 students, 74% FRL); Edwards Middle School (math 15% / reading 33%, grade F, #311 of 470 statewide, top 68%, 943 students, 76% FRL); Heritage High School (math 8% / reading 15%, grade F, #345 of 424 statewide, top 82%, 1,877 students, 59% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 388 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 483 units permitted in Rockdale County in 2024 (0 in 5+ unit buildings).
• Rockdale County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $22k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 4.4% in Conyers — 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?
• It's been on market 82 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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 D-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?