2792 Brandon Lake Dr

Snellville, GA 30039

$339,900D-

3 bd · 2.5 ba · 2,356 sqft · Built 2001 · SingleFamily · Under Contract · 129 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,515/mo
• Mortgage (P&I): −$1,782
• Tax + insurance: −$476
• HOA: −$34
• Vac / Maint / Mgmt: −$528
• Net cashflow: $-305/mo
• Annual: $-3,662/yr
• Cap rate: 5.22%
• Cash-on-cash: -3.85%
• DSCR: 0.83
• 1% rule: 0.74%
• Cash to close: $95,172

Investor read

• This is a 3-bed/2.5-bath single-family listed at $340k.
• At list price, monthly cash flow is $-305 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $286k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (26.0% below list).
• It's been on market 129 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $252k (26.0% 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 67/100 on livability (#169 in GA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A-; Watch: amenities F, commute F.
• Gwinnett County (suburban): math 39% / reading 43% proficiency, ranked #32 of 174 in GA (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Norton Elementary School (math 21% / reading 28%, grade F, #753 of 1,228 statewide, top 64%, 952 students, 77% FRL); Snellville Middle School (math 19% / reading 29%, grade F, #311 of 470 statewide, top 68%, 882 students, 75% FRL); South Gwinnett High School (math 14% / reading 8%, grade F, #347 of 424 statewide, top 82%, 2,677 students, 58% FRL) — zoned schools average 70% FRL vs 47% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 41% district-wide (-21 pts) — the specific schools serving this property underperform the Gwinnett County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.3%/yr); 358 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,607 units permitted in Gwinnett County in 2024 (1,277 in 5+ unit buildings).
• Gwinnett County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 15y 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.
• Current owner paid $77k; list at $340k implies a 341% gain — meaningful room to come down on a strong offer.
• 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 5.2% vs local median 3.9% in Snellville — 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 ($94k/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 129 days. Have you received any prior offers? Is the seller open to a 26% 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.
• 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?
• 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.