405 Church St

Bremen, GA 30110

$289,900F

3 bd · 2.0 ba · 1,376 sqft · Built 1955 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,412/mo
• Mortgage (P&I): −$1,520
• Tax + insurance: −$274
• HOA: −$0
• Vac / Maint / Mgmt: −$297
• Net cashflow: $-678/mo
• Annual: $-8,138/yr
• Cap rate: 3.49%
• Cash-on-cash: -10.03%
• DSCR: 0.55
• 1% rule: 0.49%
• Cash to close: $81,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $290k.
• At list price, monthly cash flow is $-678 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (41.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (51.3% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $141k (51.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#97 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Bremen City (town): math 72% / reading 68% proficiency, ranked #3 of 174 in GA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Jones Elementary School (math 67% / reading 67%, grade B+, #79 of 1,228 statewide, top 7%, 760 students, 18% FRL); Bremen Middle School (math 75% / reading 72%, grade A, #9 of 470 statewide, top 2%, 509 students, 14% FRL); Bremen High School (math 52% / reading 57%, grade C-, #21 of 424 statewide, top 5%, 749 students, 15% FRL) — zoned schools at 16% FRL track the district average.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 148 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 225 units permitted in Haralson County in 2024 (0 in 5+ unit buildings).
• Haralson County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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.
• Current owner paid $161k; list at $290k implies a 80% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

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?
• Built in 1955 — 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 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.