1406 Flanagan Mill Dr

Auburn, GA 30011

$2,400D

3 bd · 3.0 ba · 1,883 sqft · Built 2002 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,467/mo
• Mortgage (P&I): −$13
• Tax + insurance: −$4
• HOA: −$0
• Vac / Maint / Mgmt: −$518
• Net cashflow: $1,932/mo
• Annual: $23,187/yr
• Cap rate: 972.41%
• Cash-on-cash: 3450.40%
• DSCR: 154.52
• 1% rule: 102.79%
• Cash to close: $672

Investor read

• This is a 3-bed/3.0-bath single-family listed at $2k.
• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $17 of loan paydown is wiped out by about $72 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.
• Barrow County (rural): math 29% / reading 34% proficiency, ranked #77 of 174 in GA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bramlett Elementary School (math 49% / reading 43%, grade D-, #316 of 1,228 statewide, top 26%, 679 students, 39% FRL); Russell Middle School (math 30% / reading 38%, grade F, #201 of 470 statewide, top 44%, 931 students, 52% FRL); Winder-Barrow High School (math 14% / reading 24%, grade F, #250 of 424 statewide, top 60%, 1,787 students, 45% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: Rents rising (+2.5%/yr); 327 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,427 units permitted in Barrow County in 2024 (311 in 5+ unit buildings).
• Barrow County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $672 cash investment doubles in ~1 year — after that, you're playing with house money.
• 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 972.4% 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 34% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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.