68 Ellenore Dr

Auburn, GA 30620

$349,990F

4 bd · 3.0 ba · 2,074 sqft · Built 2026 · Other · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,422/mo
• Mortgage (P&I): −$2,032
• Tax + insurance: −$646
• HOA: −$71
• Vac / Maint / Mgmt: −$509
• Net cashflow: $-836/mo
• Annual: $-10,028/yr
• Cap rate: 3.70%
• Cash-on-cash: -9.24%
• DSCR: 0.59
• 1% rule: 0.62%
• Cash to close: $108,502

Investor read

• This is a 4-bed/3.0-bath other listed at $350k.
• At list price, monthly cash flow is $-836 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $314k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (30.8% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $242k (30.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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: Yargo Elementary School (math 34% / reading 34%, grade F, #554 of 1,228 statewide, top 46%, 896 students, 55% FRL); Haymon-Morris Middle School (math 30% / reading 34%, grade F, #229 of 470 statewide, top 49%, 809 students, 54% FRL); Apalachee High School (math 13% / reading 35%, grade F, #203 of 424 statewide, top 48%, 1,894 students, 49% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents rising fast (+5.7%/yr); 218 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 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.
• This rent runs 35% of the median local income ($84k/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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.