2139 Meadowview Ct SE Unit F

Conyers, GA 30013

$159,000D+

2 bd · 2.0 ba · 1,036 sqft · Built 1996 · Townhouse · Active · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,471/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$265
• HOA: −$0
• Vac / Maint / Mgmt: −$309
• Net cashflow: $63/mo
• Annual: $756/yr
• Cap rate: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• 1% rule: 0.92%
• Cash to close: $44,520

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $159k. Condition is rated good.
• At list price, monthly cash flow is $63 ($756/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 $147k (7.5% below list).
• It's been on market 91 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#167 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities D, commute F.
• Rockdale County (suburban): math 14% / reading 29% proficiency, ranked #136 of 174 in GA (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Peek'S Chapel Elementary (math 12% / reading 17%, grade F, #996 of 1,228 statewide, top 83%, 532 students, 77% FRL); Memorial Middle School (math 12% / reading 34%, grade F, #321 of 470 statewide, top 69%, 771 students, 79% FRL); Salem High School (math 2% / reading 15%, grade F, #375 of 424 statewide, top 88%, 1,120 students, 71% FRL) — zoned schools average 75% FRL vs 60% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.3%/yr); 511 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% of comp listings sitting > 30 days — soft ceiling on asking rent; 483 units permitted in Rockdale County in 2024 (0 in 5+ unit buildings).
• Rockdale County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts; this cycle's ask is 10820% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• 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 6.8% vs local median 4.3% in Conyers — 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

• It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.