6776 Blackstone Pl #10

Mableton, GA 30126

$240,000D

3 bd · 2.5 ba · 1,876 sqft · Built 2005 · Townhouse · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,269/mo
• Mortgage (P&I): −$1,259
• Tax + insurance: −$368
• HOA: −$265
• Vac / Maint / Mgmt: −$476
• Net cashflow: $-99/mo
• Annual: $-1,189/yr
• Cap rate: 5.80%
• Cash-on-cash: -1.77%
• DSCR: 0.92
• 1% rule: 0.95%
• Cash to close: $67,200

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $240k.
• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (5.5% below list).
• It's been on market 37 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $222k (7.3% below list) — sets the bar for cash-flow.
• 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 70/100 on livability (#94 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, crime B+; Watch: amenities F, commute D-.
• 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: Clay-Harmony Leland Elementary School (math 20% / reading 25%, grade F, #803 of 1,228 statewide, top 66%, 939 students, 67% FRL); Lindley Middle School (math 15% / reading 22%, grade F, #372 of 470 statewide, top 80%, 1,096 students, 82% FRL); Pebblebrook High School (math 23% / reading 30%, grade F, #171 of 424 statewide, top 41%, 2,511 students, 70% FRL) — zoned schools average 73% FRL vs 39% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 42% district-wide (-20 pts) — the specific schools serving this property underperform the Cobb County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.7%/yr); 405 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 12 sale attempts since 14y 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 $75k; list at $240k implies a 220% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 4.0% in Mableton — 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 37 days. Have you received any prior offers? Is the seller open to a 7% 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?
• 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.