692 Eagles Nest Cir

Auburn, GA 30011

$429,900D-

3 bd · 3.0 ba · 2,484 sqft · Built 2024 · SingleFamily · Pending · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,853/mo
• Mortgage (P&I): −$2,254
• Tax + insurance: −$290
• HOA: −$54
• Vac / Maint / Mgmt: −$599
• Net cashflow: $-344/mo
• Annual: $-4,128/yr
• Cap rate: 5.33%
• Cash-on-cash: -3.43%
• DSCR: 0.85
• 1% rule: 0.66%
• Cash to close: $120,372

Investor read

• This is a 3-bed/3.0-bath single-family listed at $430k.
• At list price, monthly cash flow is $-344 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $369k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $285k (33.6% below list).
• It's been on market 43 days — a 3% lower offer ($417k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $285k (33.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#41 in GA, #4,693 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: 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: Mulberry Elementary School (math 55% / reading 55%, grade C, #178 of 1,228 statewide, top 15%, 710 students, 42% FRL); Dacula Middle School (math 31% / reading 44%, grade F, #162 of 470 statewide, top 35%, 1,839 students, 58% FRL); Dacula High School (math 12% / reading 15%, grade F, #325 of 424 statewide, top 78%, 2,498 students, 51% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising (+2.5%/yr); 336 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 2 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.
• Cap rate 5.3% vs local median 3.8% in Auburn — 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 40% of the median local income ($86k/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 43 days. Have you received any prior offers? Is the seller open to a 34% 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?
• 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?
• 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.
• 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.