385 Creekview Blvd

Porterdale, GA 30016

$235,000D+

3 bd · 2.5 ba · 2,117 sqft · Built 2003 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,078/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$342
• HOA: −$17
• Vac / Maint / Mgmt: −$436
• Net cashflow: $50/mo
• Annual: $601/yr
• Cap rate: 6.55%
• Cash-on-cash: 0.91%
• DSCR: 1.04
• 1% rule: 0.88%
• Cash to close: $65,800

Investor read

• This is a 3-bed/2.5-bath single-family listed at $235k.
• At list price, monthly cash flow is $50 ($601/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (11.6% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $208k (11.6% 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 58/100 on livability (#447 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+, housing B; Watch: amenities F, commute F, employment F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Newton County Theme School At Ficquett (math 49% / reading 65%, grade C+, #151 of 1,228 statewide, top 13%, 977 students, 29% FRL); Liberty Middle School (math 7% / reading 15%, grade F, #426 of 470 statewide, top 91%, 944 students, 85% FRL); Newton High School (math 8% / reading 12%, grade F, #365 of 424 statewide, top 88%, 2,472 students, 85% FRL).
• Market conditions: Rents rising (+1.8%/yr); 449 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 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.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 5.0% in Porterdale — 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 31% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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 F-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.