2 Ruby Ct

Grantville, GA 30220

$216,000D-

3 bd · 2.0 ba · 1,114 sqft · Built 2002 · SingleFamily · Under Contract · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,677/mo
• Mortgage (P&I): −$1,133
• Tax + insurance: −$279
• HOA: −$0
• Vac / Maint / Mgmt: −$352
• Net cashflow: $-87/mo
• Annual: $-1,039/yr
• Cap rate: 5.81%
• Cash-on-cash: -1.72%
• DSCR: 0.92
• 1% rule: 0.78%
• Cash to close: $60,480

Investor read

• This is a 3-bed/2.0-bath single-family listed at $216k.
• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (7.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (22.3% below list).
• It's been on market 28 days — a 2% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (22.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#242 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety 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: Glanton Elementary (math 17% / reading 32%, grade F, #753 of 1,228 statewide, top 64%, 264 students, 66% FRL); Smokey Road Middle School (math 21% / reading 33%, grade F, #271 of 470 statewide, top 60%, 595 students, 60% FRL); Newnan High School (math 42% / reading 26%, grade F, #93 of 424 statewide, top 23%, 2,335 students, 41% FRL) — zoned schools average 56% FRL vs 37% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 69 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• Climate carrying-cost: major wind risk, 42% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 3.3% in Grantville — 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?
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.