2935 Meadow Gate Way

Grayson, GA 30052

$359,900D

3 bd · 2.0 ba · 1,890 sqft · Built 1999 · SingleFamily · Active · 157 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,661/mo
• Mortgage (P&I): −$1,887
• Tax + insurance: −$276
• HOA: −$135
• Vac / Maint / Mgmt: −$559
• Net cashflow: $-196/mo
• Annual: $-2,349/yr
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• 1% rule: 0.74%
• Cash to close: $100,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $360k.
• At list price, monthly cash flow is $-196 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $325k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (26.1% below list).
• It's been on market 157 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $266k (26.1% 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 $11k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#42 in GA, #4,721 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, 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: Trip Elementary School (math 54% / reading 53%, grade C, #212 of 1,228 statewide, top 17%, 1,315 students, 55% FRL); Bay Creek Middle School (math 30% / reading 43%, grade F, #167 of 470 statewide, top 38%, 1,330 students, 52% FRL); Grayson High School (math 8% / reading 22%, grade F, #297 of 424 statewide, top 74%, 3,284 students, 42% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising (+3.1%/yr); 858 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 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.
• 7 sale attempts since 16y ago; this cycle's ask has dropped $40k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $252k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: moderate wind risk, 22% 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 5.6% vs local median 3.6% in Grayson — 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.
• This rent runs 34% of the median local income ($94k/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?
• It's been on market 157 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.