404 Paige Street St

Dalton, GA 30721

$129,900C+

2 bd · 1.0 ba · 896 sqft · Built 1984 · Other · Pending · 219 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,501/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$216
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $288/mo
• Annual: $3,458/yr
• Cap rate: 8.95%
• Cash-on-cash: 9.51%
• DSCR: 1.42
• 1% rule: 1.16%
• Cash to close: $36,372

Investor read

• This is a 2-bed/1.0-bath other listed at $130k. Condition is rated fair.
• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• It's been on market 219 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#172 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Dalton Public Schools (urban): math 29% / reading 33% proficiency, ranked #93 of 174 in GA (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Blue Ridge Elementary School (math 19% / reading 22%, grade F, #860 of 1,228 statewide, top 70%, 642 students, 87% FRL); Hammond Creek Middle School (1,086 students, 72% FRL); Dalton High School (math 12% / reading 18%, grade F, #294 of 424 statewide, top 70%, 1,382 students, 55% FRL) — zoned schools at 71% FRL track the district average.
• Zoned-school proficiency averages 18% at this address vs 31% district-wide (-13 pts) — the specific schools serving this property underperform the Dalton Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 388 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 374 units permitted in Whitfield County in 2024 (35 in 5+ unit buildings).
• Whitfield County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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 9.0% vs local median 3.4% in Dalton — 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

• It's been on market 219 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exterior siding — Weathered and in need of repair.
• Major: Roof — Missing shingles or damage.
• Major: Hardwood flooring — Worn and in need of refinishing.
• Major: Kitchen cabinets — Dated and in need of updating.
• Major: Bathroom fixtures — Dated and in need of updating.
• Major: Interior walls — Peeling paint and need repainting.