91 Walt Sanders Rd

Newnan, GA 30265

$239,900D-

2 bd · 2.0 ba · 1,044 sqft · Built 1960 · SingleFamily · Under Contract · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,741/mo
• Mortgage (P&I): −$1,258
• Tax + insurance: −$211
• HOA: −$0
• Vac / Maint / Mgmt: −$366
• Net cashflow: $-93/mo
• Annual: $-1,121/yr
• Cap rate: 5.83%
• Cash-on-cash: -1.67%
• DSCR: 0.93
• 1% rule: 0.73%
• Cash to close: $67,172

Investor read

• This is a 2-bed/2.0-bath single-family listed at $240k.
• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (27.4% below list).
• It's been on market 45 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $174k (27.4% 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 66/100 on livability (#184 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, employment B; Watch: crime F, amenities F, commute F.
• Coweta County (rural): math 37% / reading 43% proficiency, ranked #36 of 174 in GA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Arbor Springs Elementary (math 52% / reading 52%, grade C-, #227 of 1,228 statewide, top 19%, 414 students, 24% FRL); Madras Middle School (math 43% / reading 57%, grade C, #68 of 470 statewide, top 15%, 753 students, 33% FRL); Northgate High School (math 43% / reading 48%, grade D-, #45 of 424 statewide, top 10%, 1,970 students, 22% FRL).
• Market conditions: Rents soft (-2.4%/yr); 320 active listings in the ZIP; solid renter incomes; 963 units permitted in Coweta County in 2024 (8 in 5+ unit buildings).
• Coweta County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 5y 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.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 3.8% in Newnan — 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?
• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?
• 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.