6450 Pinin Pl

Cumming, GA 30041

$384,990F

4 bd · 3.5 ba · 2,038 sqft · Built 2025 · Other · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,534/mo
• Mortgage (P&I): −$2,391
• Tax + insurance: −$300
• HOA: −$175
• Vac / Maint / Mgmt: −$532
• Net cashflow: $-864/mo
• Annual: $-10,368/yr
• Cap rate: 4.02%
• Cash-on-cash: -8.12%
• DSCR: 0.64
• 1% rule: 0.56%
• Cash to close: $127,649

Investor read

• This is a 4-bed/3.5-bath other listed at $385k.
• At list price, monthly cash flow is $-864 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (21.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (34.2% below list).
• It's been on market 28 days — a 2% lower offer ($379k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $253k (34.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#29 in GA, #3,797 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime A, housing A; Watch: employment C-, amenities D-, commute F.
• Forsyth County (suburban): math 62% / reading 62% proficiency, ranked #5 of 174 in GA (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Chestatee Elementary (math 47% / reading 44%, grade D-, #323 of 1,228 statewide, top 26%, 1,228 students, 30% FRL); North Forsyth Middle School (math 47% / reading 49%, grade C-, #80 of 470 statewide, top 17%, 1,191 students, 20% FRL); East Forsyth High School (1,453 students, 24% FRL).
• Zoned-school proficiency averages 47% at this address vs 62% district-wide (-15 pts) — the specific schools serving this property underperform the Forsyth County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.3%/yr); 823 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 2,525 units permitted in Forsyth County in 2024 (810 in 5+ unit buildings).
• Forsyth County population projected at +71% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• Cap rate 4.0% vs local median 2.8% in Cumming — 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?
• 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 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.
• 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.