1080 Belmont Rd

Athens-Clarke County unified government (balance), GA 30605

$199,000D

2 bd · 1.0 ba · 1,164 sqft · Built 1950 · SingleFamily · Active · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,514/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$187
• HOA: −$0
• Vac / Maint / Mgmt: −$318
• Net cashflow: $-34/mo
• Annual: $-410/yr
• Cap rate: 6.09%
• Cash-on-cash: -0.74%
• DSCR: 0.97
• 1% rule: 0.76%
• Cash to close: $55,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $199k.
• At list price, monthly cash flow is $-34 ($-410/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (23.9% below list).
• It's been on market 87 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $151k (23.9% 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Clarke County (urban): math 17% / reading 21% proficiency, ranked #146 of 174 in GA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Whit Davis Road Elementary School (math 12% / reading 17%, grade F, #996 of 1,228 statewide, top 83%, 439 students, 83% FRL); Hilsman Middle School (math 12% / reading 22%, grade F, #381 of 470 statewide, top 82%, 628 students, 83% FRL); Cedar Shoals High School (1,443 students, 83% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.8%/yr); 303 active listings in the ZIP; 1,172 units permitted in Clarke County in 2024 (876 in 5+ unit buildings).
• Clarke County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts; this cycle's ask has dropped $26k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $199k implies a 563% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% 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 6.1% vs local median 3.4% in Athens-Clarke County unified government (balance) — 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.
• This rent runs 36% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 87 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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.
• 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.