223 Alton Cir

Villa Rica, GA 30180

$225,000D

3 bd · 2.0 ba · 1,586 sqft · Built 2007 · Townhouse · Active · 107 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,791/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$342
• HOA: −$43
• Vac / Maint / Mgmt: −$376
• Net cashflow: $-150/mo
• Annual: $-1,803/yr
• Cap rate: 5.49%
• Cash-on-cash: -2.86%
• DSCR: 0.87
• 1% rule: 0.80%
• Cash to close: $63,000

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $225k.
• At list price, monthly cash flow is $-150 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (20.4% below list).
• It's been on market 107 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $179k (20.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#224 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F, health & safety F.
• Carroll County (rural): math 42% / reading 41% proficiency, ranked #38 of 174 in GA (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Glanton-Hindsman Elementary (math 40% / reading 42%, grade F, #411 of 1,228 statewide, top 34%, 706 students, 65% FRL); Villa Rica Middle (math 25% / reading 32%, grade F, #260 of 470 statewide, top 56%, 464 students, 70% FRL); Villa Rica High School (math 16% / reading 34%, grade F, #181 of 424 statewide, top 43%, 1,807 students, 56% FRL).
• Market conditions: Rents rising (+2.4%/yr); 669 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 876 units permitted in Carroll County in 2024 (150 in 5+ unit buildings).
• Carroll County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 6y 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.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% vs local median 4.0% in Villa Rica — 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 107 days. Have you received any prior offers? Is the seller open to a 20% 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.
• 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.