1532 High Falls Rd

East Griffin, GA 30223

$133,750C-

2 bd · 1.0 ba · 1,068 sqft · Built 1953 · SingleFamily · Active · 104 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,171/mo
• Mortgage (P&I): −$701
• Tax + insurance: −$103
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $121/mo
• Annual: $1,446/yr
• Cap rate: 7.37%
• Cash-on-cash: 3.86%
• DSCR: 1.17
• 1% rule: 0.88%
• Cash to close: $37,450

Investor read

• This is a 2-bed/1.0-bath single-family listed at $134k.
• At list price, monthly cash flow is $121 ($1k/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 $117k (12.4% below list).
• It's been on market 104 days — a 9% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (12.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $924 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#511 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B; Watch: schools F, amenities F, commute F.
• Griffin-Spalding County (suburban): math 13% / reading 19% proficiency, ranked #151 of 174 in GA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.3%/yr); 427 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 342 units permitted in Spalding County in 2024 (0 in 5+ unit buildings).
• Spalding County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $9k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wind risk, 42% 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.

Questions for listing agent

• It's been on market 104 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.