3 Briarcliff Rd SE

Rome, GA 30161

$1F

3 bd · 3.5 ba · 2,267 sqft · Built 1956 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,993/mo
• Mortgage (P&I): −$1,866
• Tax + insurance: −$593
• HOA: −$0
• Vac / Maint / Mgmt: −$419
• Net cashflow: $-885/mo
• Annual: $-10,622/yr
• Cap rate: 3.31%
• Cash-on-cash: -10.66%
• DSCR: 0.53
• 1% rule: 0.56%
• Cash to close: $99,657

Investor read

• This is a 3-bed/3.5-bath single-family listed at $1. Condition is rated fair.
• At list price, monthly cash flow is $-885 ($-11k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#266 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Rome City (urban): math 27% / reading 29% proficiency, ranked #112 of 174 in GA (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: East Central Elementary School (math 42% / reading 41%, grade F, #402 of 1,228 statewide, top 33%, 546 students, 54% FRL); Rome Middle School (math 32% / reading 35%, grade F, #206 of 470 statewide, top 45%, 966 students, 55% FRL); Rome High School (math 12% / reading 15%, grade F, #325 of 424 statewide, top 78%, 2,095 students, 66% FRL).
• Watch-outs: property tax is 533878.5% of price; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.3%/yr); 411 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 355 units permitted in Floyd County in 2024 (0 in 5+ unit buildings).
• Floyd County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• This rent runs 39% of the median local income ($62k/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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Major: exterior paint — Peeling paint on the brick
• Minor: vegetation — Overgrown vegetation