5385 Booker T Dr · Lake City, GA 30260

$159,900

4 bd · 2.0 ba · 1,150 sqft · SingleFamily public records · 75 Days on market

Built 1950 0.26 ac lot $139/sqft · 8% below area Est $250k · 36% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +7.1/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

REO FORECLOSURE OPPURTUNITY - INVESTOR SPECIAL! About 85-90% complete and practically a new build with Commercial Mixed-Use Zoning, this versatile property offers incredible potential for investors, business owners, or buyers looking to finish and customize. This 4-bedroom/office suite, 2.5-bath property can be utilized for residential, business, or mixed-use purposes. Plenty of space in the front and rear to add additional parking if needed. The heavy lifting has already been done. New electrical, HVAC, plumbing, water heater, and a brand-new roof are already in place. The septic system is new, with only the tank installation remaining (tank is onsite). To bring this home to completion, flooring, vanities, toilets, and appliances still need to be installed, but with everything else already in place, the finish line is within reach! Whether you're looking for a high-return investment or a versatile space in a prime location, this property is a rare find. Bring your Vision and make it yours!

Key facts

• New plumbing
• New hvac
• New water heater

Tags

• COMMERCIAL MIXED-USE ZONING
• NEW ELECTRICAL
• NEW HVAC
• NEW PLUMBING
• NEW WATER HEATER
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 4.3% in Lake City — 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.

Location & tenants

• Location reads 70/100 on livability (#98 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, crime F, amenities F.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.0%/yr); 173 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• This rent runs 44% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 7y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.21% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.20%
• DSCR: 1.59
• GRM: 6.9

CMA / ARV

• ARV (median comp): $250,235
• List price: $159,900
• Delta: -36.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5136 2nd St	0.55mi	3/2.0 (-1)	1,170 (+2%)	17mo	$220,000	$188	53
5325 Victory Blvd	0.38mi	3/1.0 (-1)	1,080 (-6%)	16mo	$60,000	$56	50
5659 Denson Blvd	0.51mi	3/1.0 (-1)	1,072 (-7%)	13mo	$135,000	$126	45
2339 Maple Ave	0.46mi	3/2.5 (-1)	1,273 (+11%)	22mo	$262,500	$206	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-243
• Equity at exit: $23,842

10-year hold

• IRR: 6.3%
• Equity multiple: 1.41×
• Total profit: $18,174
• Equity at exit: $13,825

Cash invested: $44,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 30260

• Home prices YoY: -33.8%
• Rents YoY: -1.0%
• Active inventory: 173
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,938 high
• Mortgage (P&I): −$839
• Tax from tax record: −$133 /mo · $1,599/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $492

Break-even live

Break-even rent $1,314

Max offer price $159,900

Occupancy floor 70%

Sensitivity live

Price	-10% $583	-5% $538	+0% $492	+5% $447	+10% $402
Rent	-10% $339	-5% $416	+0% $492	+5% $569	+10% $645
Rate	-1.0pp $573	-0.5pp $533	base $492	+0.5pp $451	+1.0pp $409

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2260 Hammond Ct Ellenwood, GA	3.0	2.0	1248	$1,850	$1.48	44d	1	0.62mi
5720 Buck Ct Ellenwood, GA	3.0	2.0	1232	$1,850	$1.50	25d	1	0.69mi
5731 Buck Ct Ellenwood, GA	3.0	2.0	1242	$1,525	$1.23	13d	1	0.70mi
5704 Wesson Dr Ellenwood, GA	3.0	2.0	1480	$1,710	$1.16	44d	1	0.89mi
2445 Rex Rd Ellenwood, GA	1.0–3.0	1.0–2.0	1149	$1,569	$1.37	0d	10	1.13mi
6010 Fairfield Dr Morrow, GA	3.0	1.5	1246	$1,841	$1.48	3d	1	1.23mi
6043 Deerfield Ct Morrow, GA	3.0	2.0	1370	$1,741	$1.27	0d	1	1.35mi
2655 Old Toney Rd Ellenwood, GA	3.0	1.5	1300	$1,450	$1.12	44d	1	1.41mi
6068 Monica Dr Morrow, GA	3.0	2.0	1210	$1,700	$1.40	23d	1	1.44mi

Listing history 50 events

1. 2026-06-21
   days on market $159,900 Active 75 DOM
2. 2026-06-18
   days on market $159,900 Active 72 DOM
3. 2026-06-17
   days on market $159,900 Active 71 DOM
4. 2026-06-16
   days on market $159,900 Active 70 DOM
5. 2026-06-15
   days on market $159,900 Active 69 DOM
6. 2026-06-13
   days on market $159,900 Active 67 DOM
7. 2026-06-10
   price $159,900 Active 63 DOM
8. 2026-06-09
   days on market $164,900 Active 63 DOM
9. 2026-06-08
   days on market $164,900 Active 62 DOM
10. 2026-06-07
    days on market $164,900 Active 61 DOM
11. 2026-06-04
    days on market $164,900 Active 58 DOM
12. 2026-06-03
    days on market $164,900 Active 57 DOM
13. 2026-06-02
    days on market $164,900 Active 56 DOM
14. 2026-06-01
    days on market $164,900 Active 55 DOM
15. 2026-05-31
    days on market $164,900 Active 54 DOM
16. 2026-05-13
    price $164,900 1006-char remark

    Show marketing remark (1006 chars)

    REO FORECLOSURE OPPURTUNITY - INVESTOR SPECIAL! About 85-90% complete and practically a new build with Commercial Mixed-Use Zoning, this versatile property offers incredible potential for investors, business owners, or buyers looking to finish and customize. This 4-bedroom/office suite, 2.5-bath property can be utilized for residential, business, or mixed-use purposes. Plenty of space in the front and rear to add additional parking if needed. The heavy lifting has already been done. New electrical, HVAC, plumbing, water heater, and a brand-new roof are already in place. The septic system is new, with only the tank installation remaining (tank is onsite). To bring this home to completion, flooring, vanities, toilets, and appliances still need to be installed, but with everything else already in place, the finish line is within reach! Whether you're looking for a high-return investment or a versatile space in a prime location, this property is a rare find. Bring your Vision and make it yours!

17. 2026-05-13
    price $164,900 1006-char remark

    Show marketing remark (1006 chars)

    REO FORECLOSURE OPPURTUNITY - INVESTOR SPECIAL! About 85-90% complete and practically a new build with Commercial Mixed-Use Zoning, this versatile property offers incredible potential for investors, business owners, or buyers looking to finish and customize. This 4-bedroom/office suite, 2.5-bath property can be utilized for residential, business, or mixed-use purposes. Plenty of space in the front and rear to add additional parking if needed. The heavy lifting has already been done. New electrical, HVAC, plumbing, water heater, and a brand-new roof are already in place. The septic system is new, with only the tank installation remaining (tank is onsite). To bring this home to completion, flooring, vanities, toilets, and appliances still need to be installed, but with everything else already in place, the finish line is within reach! Whether you're looking for a high-return investment or a versatile space in a prime location, this property is a rare find. Bring your Vision and make it yours!

18. 2026-04-07
    listed $169,900 New 1006-char remark

    Show marketing remark (1006 chars)

    REO FORECLOSURE OPPURTUNITY - INVESTOR SPECIAL! About 85-90% complete and practically a new build with Commercial Mixed-Use Zoning, this versatile property offers incredible potential for investors, business owners, or buyers looking to finish and customize. This 4-bedroom/office suite, 2.5-bath property can be utilized for residential, business, or mixed-use purposes. Plenty of space in the front and rear to add additional parking if needed. The heavy lifting has already been done. New electrical, HVAC, plumbing, water heater, and a brand-new roof are already in place. The septic system is new, with only the tank installation remaining (tank is onsite). To bring this home to completion, flooring, vanities, toilets, and appliances still need to be installed, but with everything else already in place, the finish line is within reach! Whether you're looking for a high-return investment or a versatile space in a prime location, this property is a rare find. Bring your Vision and make it yours!

19. 2026-04-07
    listed $169,900 Active 1006-char remark

    Show marketing remark (1006 chars)

    REO FORECLOSURE OPPURTUNITY - INVESTOR SPECIAL! About 85-90% complete and practically a new build with Commercial Mixed-Use Zoning, this versatile property offers incredible potential for investors, business owners, or buyers looking to finish and customize. This 4-bedroom/office suite, 2.5-bath property can be utilized for residential, business, or mixed-use purposes. Plenty of space in the front and rear to add additional parking if needed. The heavy lifting has already been done. New electrical, HVAC, plumbing, water heater, and a brand-new roof are already in place. The septic system is new, with only the tank installation remaining (tank is onsite). To bring this home to completion, flooring, vanities, toilets, and appliances still need to be installed, but with everything else already in place, the finish line is within reach! Whether you're looking for a high-return investment or a versatile space in a prime location, this property is a rare find. Bring your Vision and make it yours!

20. 2025-12-31
    historical
21. 2025-12-31
    historical
22. 2025-10-03
    price $170,000
23. 2025-10-03
    price $170,000
24. 2025-07-28
    status Active
25. 2025-07-28
    status Back On Market
26. 2025-07-17
    status Under Contract
27. 2025-07-17
    status Pending
28. 2025-07-02
    status Price Change
29. 2025-07-02
    price $190,000
30. 2025-07-02
    status Active
31. 2025-06-05
    status Under Contract
32. 2025-06-05
    historical Active Under Contract
33. 2025-05-14
    price $190,000
34. 2025-02-26
    listed $215,000 Active
35. 2025-02-26
    listed $215,000 New
36. 2024-12-13
    soldstatus $115,000 Sold
37. 2024-12-10
    status Under Contract
38. 2024-11-26
    soldstatus $115,000 Closed
39. 2024-11-14
    historical Active Under Contract
40. 2024-11-14
    historical Active Under Contract
41. 2024-11-04
    price $139,000
42. 2024-11-04
    price $139,000
43. 2024-10-16
    listed $149,000 New
44. 2024-10-14
    listed $149,000 Active
45. 2024-06-10
    soldstatus $107,500
46. 2020-11-05
    status Under Contract
47. 2020-11-04
    soldstatus $26,000 Sold
48. 2020-09-30
    price $26,900
49. 2020-08-29
    price $35,900
50. 2020-05-07
    listed $44,900 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $1,599 · $133/mo
• Projected year-2 tax: $1,599 · $133/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,252
• − Mortgage interest: −$8,957
• − Property taxes: −$1,599
• − Insurance: −$800
• − Repairs & maintenance: −$1,860
• − Management: −$1,860
• − Depreciation: −$4,652
• Taxable income: $3,525
• Est. tax owed @ 24.0%: −$846
• After-tax cash flow: $5,062/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Clayton County
• NCES district ID: 1301230
• Math proficiency: 11% ▼ -13.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $42,266
• Composite: 13.41/100
• National rank: #9527
• State rank: #155 of 174 in GA

Livability — Lake City

• Score: 70/100
• State rank: #98
• US rank: #7863

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment C Housing A+ Health & safety B- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clayton County · 230,153 people
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 28,693
• Household income: $52,666
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 1956.0

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 310,777 people
• By 2030: 329,762 · +6.1%
• By 2040: 368,052 · +18.4%
• By 2050: 401,196 · +29.1%
• By 2075: 472,488 · +52.0%
• By 2100: 500,446 · +61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Black 50% Asian 20% Hispanic / Latino 19% Two or more races 7% White 7%
• Hispanic origin (detail): Mexican 11% Dominican 1%
• Foreign-born: 24% · Vietnam, Canada, South Korea
• Languages at home: 63% English-only · Spanish 17% Vietnamese 16% Other Asian/Pacific 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid D (+69.2) · D 84.3% · R 15.1%
• 2008→2024 swing: +2.8pp toward D · 2008: 66.4pp · 2024: 69.2pp
• All cycles: 2024: D+69.2 2020: D+70.9 2016: D+71.9 2012: D+70.1 2008: D+66.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.24%
• Current HPI: 192.3741
• Rent YoY: ▼ -1.00%
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

+1274.2% since first listed

46 events — show timeline

• 2026-05-13 Price Changed $164,900 GAMLS
• 2026-05-13 Price Changed $164,900 FMLS
• 2026-04-07 Listed $169,900 FMLS
• 2026-04-07 Listed $169,900 GAMLS
• 2025-12-31 Listing Removed — GAMLS
• 2025-12-31 Listing Removed — FMLS
• 2025-10-03 Price Changed $170,000 GAMLS
• 2025-10-03 Price Changed $170,000 FMLS
• 2025-07-28 Relisted — FMLS
• 2025-07-28 Relisted — GAMLS
• 2025-07-17 Pending — GAMLS
• 2025-07-17 Pending — FMLS
• 2025-07-02 Relisted — GAMLS
• 2025-07-02 Price Changed $190,000 GAMLS
• 2025-07-02 Relisted — FMLS
• 2025-06-05 Pending — GAMLS
• 2025-06-05 Contingent — FMLS
• 2025-05-14 Price Changed $190,000 FMLS
• 2025-02-26 Listed $215,000 GAMLS
• 2025-02-26 Listed $215,000 FMLS
• 2024-12-13 Sold (MLS) $115,000 GAMLS
• 2024-12-10 Pending — GAMLS
• 2024-11-26 Sold (MLS) $115,000 FMLS
• 2024-11-14 Contingent — GAMLS
• 2024-11-14 Contingent — FMLS
• 2024-11-04 Price Changed $139,000 GAMLS
• 2024-11-04 Price Changed $139,000 FMLS
• 2024-10-16 Listed $149,000 GAMLS
• 2024-10-14 Listed $149,000 FMLS
• 2024-06-10 Sold (Public Records) $107,500 Public Records
• 2020-11-05 Pending — GAMLS
• 2020-11-04 Sold (MLS) $26,000 GAMLS
• 2020-09-30 Price Changed $26,900 GAMLS
• 2020-08-29 Price Changed $35,900 GAMLS
• 2020-05-07 Listed $44,900 GAMLS
• 2020-04-10 Sold (Public Records) $20,000 Public Records
• 2020-03-24 Sold (MLS) $20,000 GAMLS
• 2020-03-07 Pending — GAMLS
• 2020-03-06 Price Changed $24,900 GAMLS
• 2020-02-14 Price Changed $25,900 GAMLS
• 2020-01-30 Price Changed $27,900 GAMLS
• 2020-01-15 Price Changed $29,900 GAMLS
• 2019-12-20 Listed $34,900 GAMLS
• 2015-07-27 Sold (Public Records) $5,000 Public Records
• 2009-02-09 Sold (Public Records) $16,156 Public Records
• 1977-10-01 Sold (Public Records) $12,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $1,599 · +98.4% YoY. Source: county tax records.