1448 Ironwood Ct

Snellville, GA 30017

$330,000D

3 bd · 2.0 ba · 2,327 sqft · Built 1987 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,464/mo
• Mortgage (P&I): −$1,731
• Tax + insurance: −$435
• HOA: −$0
• Vac / Maint / Mgmt: −$517
• Net cashflow: $-220/mo
• Annual: $-2,636/yr
• Cap rate: 5.49%
• Cash-on-cash: -2.85%
• DSCR: 0.87
• 1% rule: 0.75%
• Cash to close: $92,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $330k.
• At list price, monthly cash flow is $-220 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $291k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (25.3% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $246k (25.3% 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 $10k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#169 in GA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A-; Watch: amenities F, commute F.
• 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: Pharr Elementary School (math 60% / reading 63%, grade B, #114 of 1,228 statewide, top 9%, 790 students, 52% FRL); Couch Middle School (math 33% / reading 50%, grade F, #132 of 470 statewide, top 28%, 1,087 students, 49% FRL); Grayson High School (math 8% / reading 22%, grade F, #297 of 424 statewide, top 74%, 3,284 students, 42% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents rising (+1.7%/yr); 225 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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.
• 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 $80k; list at $330k implies a 313% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk; moderate wind risk, 25% 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 5.5% vs local median 3.9% in Snellville — 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.
• 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.