5474 Glen Haven Dr

College Park, GA 30349

$345,000C-

3 bd · 1.0 ba · 1,092 sqft · Built 1984 · MultiFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,852/mo
• Mortgage (P&I): −$1,809
• Tax + insurance: −$294
• HOA: −$0
• Vac / Maint / Mgmt: −$599
• Net cashflow: $150/mo
• Annual: $1,798/yr
• Cap rate: 6.81%
• Cash-on-cash: 1.86%
• DSCR: 1.08
• 1% rule: 0.83%
• Cash to close: $96,600

Investor read

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $345k.
• At list price, monthly cash flow is $150 ($2k/yr) — positive. Per door: $75/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $285k (17.3% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $285k (17.3% below list) — sets the bar for 1% rule.
• In year one you build about $37k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#408 in GA) — a working-class tenant base; expect higher turnover. Strengths: commute A+, cost of living A+, housing A-; Watch: crime F, amenities F, employment D-.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: West Clayton Elementary School (math 10% / reading 10%, grade F, #1,076 of 1,228 statewide, top 89%, 488 students, 90% FRL); North Clayton Middle School (math 12% / reading 27%, grade F, #356 of 470 statewide, top 78%, 767 students, 90% FRL); North Clayton High School (math 2% / reading 22%, grade F, #336 of 424 statewide, top 80%, 1,206 students, 90% FRL).
• Market conditions: Rents flat; 651 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 2y 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 $140k; list at $345k implies a 146% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 0.9% rent growth), your $97k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 3.8% in College Park — 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

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.