17 Herring St

Cartersville, GA 30120

$245,500D+

2 bd · 1.0 ba · 1,044 sqft · Built 1956 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,828/mo
• Mortgage (P&I): −$1,287
• Tax + insurance: −$212
• HOA: −$0
• Vac / Maint / Mgmt: −$384
• Net cashflow: $-56/mo
• Annual: $-670/yr
• Cap rate: 6.02%
• Cash-on-cash: -0.97%
• DSCR: 0.96
• 1% rule: 0.74%
• Cash to close: $68,740

Investor read

• This is a 2-bed/1.0-bath single-family listed at $246k.
• At list price, monthly cash flow is $-56 ($-670/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (25.5% below list).
• It's been on market 38 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $183k (25.5% 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 74/100 on livability (#43 in GA, #4,800 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A; Watch: commute F.
• Cartersville City (suburban): math 38% / reading 42% proficiency, ranked #46 of 174 in GA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cartersville Primary School (1,109 students, 55% FRL); Cartersville Middle School (math 47% / reading 50%, grade C-, #75 of 470 statewide, top 17%, 1,036 students, 49% FRL); Cartersville High School (math 14% / reading 29%, grade F, #218 of 424 statewide, top 53%, 1,398 students, 45% FRL) — zoned schools at 50% FRL track the district average.
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-0.2%/yr); 521 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,618 units permitted in Bartow County in 2024 (265 in 5+ unit buildings).
• 7 sale attempts since 8y 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.
• Current owner paid $36k; list at $246k implies a 582% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 3.7% in Cartersville — 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 38 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1956 — 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?
• 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.