1050 Waddell St

Bremen, GA 30110

$205,200D

3 bd · 3.0 ba · 1,975 sqft · Built 1964 · SingleFamily · Pending · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,577/mo
• Mortgage (P&I): −$1,076
• Tax + insurance: −$245
• HOA: −$0
• Vac / Maint / Mgmt: −$331
• Net cashflow: $-75/mo
• Annual: $-902/yr
• Cap rate: 5.85%
• Cash-on-cash: -1.57%
• DSCR: 0.93
• 1% rule: 0.77%
• Cash to close: $57,456

Investor read

• This is a 3-bed/3.0-bath single-family listed at $205k.
• At list price, monthly cash flow is $-75 ($-902/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (23.2% below list).
• It's been on market 108 days — a 9% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (23.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#97 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Haralson County (rural): math 36% / reading 30% proficiency, ranked #76 of 174 in GA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tallapoosa Primary School (483 students, 85% FRL); Haralson County Middle School (math 43% / reading 33%, grade F, #159 of 470 statewide, top 34%, 772 students, 85% FRL); Haralson County High School (math 30% / reading 42%, grade F, #74 of 424 statewide, top 18%, 945 students, 85% FRL) — zoned schools average 85% FRL vs 54% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 148 active listings in the ZIP; 225 units permitted in Haralson County in 2024 (0 in 5+ unit buildings).
• Haralson County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts; this cycle's ask has dropped $88k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 3.2% in Bremen — 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 108 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1964 — 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 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.