237 Alameda St

Lawrenceville, GA 30052

$266,900C-

3 bd · 2.5 ba · 1,703 sqft · Built 2026 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,309/mo
• Mortgage (P&I): −$1,400
• Tax + insurance: −$445
• HOA: −$0
• Vac / Maint / Mgmt: −$485
• Net cashflow: $-20/mo
• Annual: $-243/yr
• Cap rate: 6.20%
• Cash-on-cash: -0.32%
• DSCR: 0.99
• 1% rule: 0.87%
• Cash to close: $74,732

Investor read

• This is a 3-bed/2.5-bath single-family listed at $267k. Condition is rated good.
• At list price, monthly cash flow is $-20 ($-243/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (13.5% below list).
• It's been on market 22 days — a 2% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $231k (13.5% 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 $8k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#3 in GA, #473 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime C-, employment D+.
• Gwinnett County (suburban): math 39% / reading 43% proficiency, ranked #32 of 174 in GA (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mckendree Elementary School (math 33% / reading 30%, grade F, #612 of 1,228 statewide, top 50%, 1,013 students, 67% FRL); Creekland Middle School (math 39% / reading 46%, grade D-, #122 of 470 statewide, top 26%, 1,860 students, 52% FRL); Collins Hill High School (math 23% / reading 43%, grade F, #101 of 424 statewide, top 24%, 2,695 students, 46% FRL).
• Market conditions: Rents rising (+3.1%/yr); 858 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,607 units permitted in Gwinnett County in 2024 (1,277 in 5+ unit buildings).
• Gwinnett County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.2% vs local median 3.8% in Lawrenceville — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.