496 Blalock Rd SE

Adairsville, GA 30103

$199,900B-

3 bd · 1.5 ba · 3,615 sqft · Built 1986 · SingleFamily · Pending · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,935/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$212
• HOA: −$0
• Vac / Maint / Mgmt: −$406
• Net cashflow: $269/mo
• Annual: $3,230/yr
• Cap rate: 7.91%
• Cash-on-cash: 5.77%
• DSCR: 1.26
• 1% rule: 0.97%
• Cash to close: $55,972

Investor read

• This is a 3-bed/1.5-bath single-family listed at $200k.
• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (3.2% below list).
• It's been on market 32 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $194k (3.2% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($1k loan paydown + $19k appreciation (9.7% local appreciation)).
• Location reads 72/100 on livability (#70 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F.
• Gordon County (rural): math 34% / reading 36% proficiency, ranked #65 of 174 in GA (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sonoraville High School (math 24% / reading 44%, grade F, #93 of 424 statewide, top 23%, 1,142 students, 49% FRL).
• Market conditions: 181 active listings in the ZIP; solid renter incomes; 414 units permitted in Gordon County in 2024 (0 in 5+ unit buildings).
• 4 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 $167k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (9.7% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.9% vs local median 4.1% in Adairsville — 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

• It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.