4247 W Mill Trl NW

Kennesaw, GA 30152

$325,000C

3 bd · 2.5 ba · 2,273 sqft · Built 1989 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,976/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$204
• HOA: −$37
• Vac / Maint / Mgmt: −$625
• Net cashflow: $406/mo
• Annual: $4,873/yr
• Cap rate: 7.79%
• Cash-on-cash: 5.36%
• DSCR: 1.24
• 1% rule: 0.92%
• Cash to close: $91,000

Investor read

• This is a 3-bed/2.5-bath single-family listed at $325k.
• At list price, monthly cash flow is $406 ($5k/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 $298k (8.4% below list).
• It's been on market 17 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $298k (8.4% 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 $10k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#19 in GA, #2,588 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, crime B+; Watch: commute F.
• 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.
• Zoned schools: Due West Elementary School (math 56% / reading 57%, grade C+, #159 of 1,228 statewide, top 13%, 636 students, 12% FRL); Mcclure Middle School (math 43% / reading 54%, grade C-, #75 of 470 statewide, top 17%, 991 students, 25% FRL); Harrison High School (math 37% / reading 59%, grade D, #36 of 424 statewide, top 8%, 2,121 students, 10% FRL) — zoned schools average 16% FRL vs 39% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.8%/yr); 293 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 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.
• Current owner paid $120k; list at $325k implies a 171% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.8% vs local median 3.6% in Kennesaw — 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 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.
• 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.