404 Arthurs Ct

Martinez, GA 30813

$229,000D-

2 bd · 2.0 ba · 1,311 sqft · Built 2000 · Other · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,687/mo
• Mortgage (P&I): −$1,201
• Tax + insurance: −$259
• HOA: −$0
• Vac / Maint / Mgmt: −$354
• Net cashflow: $-127/mo
• Annual: $-1,522/yr
• Cap rate: 5.63%
• Cash-on-cash: -2.37%
• DSCR: 0.89
• 1% rule: 0.74%
• Cash to close: $64,120

Investor read

• This is a 2-bed/2.0-bath other listed at $229k.
• At list price, monthly cash flow is $-127 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (26.3% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $169k (26.3% 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 $7k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#23 in GA, #3,514 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Columbia County (suburban): math 49% / reading 52% proficiency, ranked #13 of 174 in GA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.1%/yr); 725 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,213 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected at +62% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 10y ago 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 $155k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.6% vs local median 4.6% in Martinez — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• 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.