73 Lillian Cir

Stockbridge, GA 30281

$49,000B-

3 bd · 2.0 ba · 1,064 sqft · Built 2000 · SingleFamily · Active · 140 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,682/mo
• Mortgage (P&I): −$257
• Tax + insurance: −$82
• HOA: −$701
• Vac / Maint / Mgmt: −$353
• Net cashflow: $289/mo
• Annual: $3,467/yr
• Cap rate: 13.37%
• Cash-on-cash: 25.27%
• DSCR: 2.12
• 1% rule: 3.43%
• Cash to close: $13,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $49k. Condition is rated good.
• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $49k).
• It's been on market 140 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#389 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: crime D, schools D-, amenities F.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: HOA is 42% of rent.
• Market conditions: Rents flat; 586 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).
• Henry County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $21k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $14k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 13.4% vs local median 4.3% in Stockbridge — 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 140 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.