1143 Creekdale Dr

Scottdale, GA 30021

$349,999D

3 bd · 1.5 ba · 1,851 sqft · Built 1969 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,254/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$639
• HOA: −$0
• Vac / Maint / Mgmt: −$473
• Net cashflow: $-694/mo
• Annual: $-8,327/yr
• Cap rate: 3.91%
• Cash-on-cash: -8.50%
• DSCR: 0.62
• 1% rule: 0.64%
• Cash to close: $98,000

Investor read

• This is a 3-bed/1.5-bath single-family listed at $350k.
• At list price, monthly cash flow is $-694 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (35.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (35.6% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $225k (35.6% below list) — sets the bar for 1% rule.
• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Location reads 79/100 on livability (#18 in GA, #2,327 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, crime A-; Watch: amenities F, health & safety F.
• Dekalb County (suburban): math 19% / reading 28% proficiency, ranked #125 of 174 in GA (top 72%) — 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.
• Zoned schools: Mclendon Elementary School (math 15% / reading 24%, grade F, #873 of 1,228 statewide, top 71%, 309 students, 100% FRL); Druid Hills Middle School (math 22% / reading 37%, grade F, #249 of 470 statewide, top 55%, 956 students, 46% FRL); Druid Hills High School (math 12% / reading 22%, grade F, #277 of 424 statewide, top 67%, 1,358 students, 37% FRL).
• Market conditions: Rents rising fast (+5.9%/yr); 37 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• DeKalb County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 11 sale attempts since 4y 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 $68k; list at $350k implies a 419% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wind risk, 23% 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 3.9% vs local median 3.2% in Scottdale — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• At $2,254/mo this rent would consume 52% of the median local household income ($52k/yr) (locally 1622% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.