247 Millbrook Farm Rd

Marietta, GA 30068

$550,000D

4 bd · 4.5 ba · 4,488 sqft · Built 1973 · SingleFamily · Active · 157 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,054/mo
• Mortgage (P&I): −$2,884
• Tax + insurance: −$983
• HOA: −$42
• Vac / Maint / Mgmt: −$851
• Net cashflow: $-706/mo
• Annual: $-8,475/yr
• Cap rate: 4.75%
• Cash-on-cash: -5.50%
• DSCR: 0.76
• 1% rule: 0.74%
• Cash to close: $154,000

Investor read

• This is a 4-bed/4.5-bath single-family listed at $550k.
• At list price, monthly cash flow is $-706 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $425k (22.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $405k (26.3% below list).
• It's been on market 157 days — a 12% lower offer ($484k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $405k (26.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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.
• Market conditions: Rents rising fast (+5.2%/yr); 194 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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.
• 17 sale attempts since 9y ago; this cycle's ask has dropped $50k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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 4.8% vs local median 3.1% 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.
• This rent runs 32% of the median local income ($150k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 157 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?