2725 Saint Augustine Trl SE

Marietta, GA 30067

$185,000D-

2 bd · 2.0 ba · 1,166 sqft · Built 1981 · Condo · Active · 118 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,703/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$320
• HOA: −$390
• Vac / Maint / Mgmt: −$358
• Net cashflow: $-334/mo
• Annual: $-4,011/yr
• Cap rate: 4.12%
• Cash-on-cash: -7.74%
• DSCR: 0.66
• 1% rule: 0.92%
• Cash to close: $51,800

Investor read

• This is a 2-bed/2.0-bath condo listed at $185k.
• At list price, monthly cash flow is $-334 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (31.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (7.9% below list).
• It's been on market 118 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (31.9% below list) — sets the bar for cash-flow.
• 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 83/100 on livability (#7 in GA, #976 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Cobb County (suburban): math 39% / reading 45% proficiency, ranked #25 of 174 in GA (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 23% of rent.
• Market conditions: Rents rising (+3.9%/yr); 238 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,625 units permitted in Cobb County in 2024 (389 in 5+ unit buildings).
• Cobb County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 14 sale attempts since 2y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.1% vs local median 3.2% in Marietta — 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 118 days. Have you received any prior offers? Is the seller open to a 32% 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?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?