408 Chestnut St · LaFayette, GA 30728

$135,000

3 bd · 2.0 ba · 1,372 sqft · SingleFamily public records · 37 Days on market

Built 1940 0.34 ac lot $98/sqft · 24% below area Est $178k · 24% under ↓ 12% since listing

---

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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors, flippers, and buyers looking for their next project. This fixer-upper offers strong potential with several major system updates already completed, making it an excellent opportunity for a rental, flip, or long-term investment property. Situated on a spacious lot with mature trees and fenced areas, the home features a large kitchen with ample cabinet space, spacious living areas, an oversized bathroom with garden tub, and flexible spaces ready for your vision and updates. Major improvements include newer sewer and water lines, approximately 90% new PEX plumbing, updated electrical wiring completed around five years ago, and an HVAC system that is also approximately fiv

Key facts

• New pex plumbing
• Storage buildings
• Hvac system

Tags

• NEWER SEWER AND WATER LINES
• NEW PEX PLUMBING
• UPDATED ELECTRICAL WIRING
• HVAC SYSTEM
• COVERED PORCH SPACE
• STORAGE BUILDINGS

Property features AI

Finance

• Other: Lot is level with asphalt city street frontage (approx. 90 x 150, 0.34 acres); Road is publicly maintained
• HOA & community: No community features listed

Exterior

• Parking: Gravel off-street parking
• Utilities: Public water; Public sewer; Electricity available; Cable connected; Phone available; Water and sewer connected
• Home design: Single-family house; One level
• Construction: Vinyl siding and wood siding; Block foundation; Shingle roof; Built as a residential single-family residence
• Exterior features: Front porch; Storage outbuilding; No additional exterior features listed

Interior

• Kitchen: Electric oven; Electric cooktop
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fan(s)
• Interior features: Ceiling fans; Eat-in kitchen; Crawl space basement
• Laundry & utility: Laundry closet on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.1% in LaFayette — 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 61/100 on livability (#345 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, amenities F, commute F.
• Walker County (rural): math 25% / reading 29% proficiency, ranked #114 of 174 in GA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Gilbert Elementary School (math 22% / reading 22%, grade F, #810 of 1,228 statewide, top 69%, 508 students, 80% FRL); Lafayette Middle School (math 23% / reading 27%, grade F, #291 of 470 statewide, top 64%, 575 students, 77% FRL); Lafayette High School (math 5% / reading 15%, grade F, #353 of 424 statewide, top 86%, 1,164 students, 62% FRL).
• Market conditions: 220 active listings in the ZIP; 347 units permitted in Walker County in 2024 (24 in 5+ unit buildings).
• This rent runs 32% of the median local income ($55k/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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Walker County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.10% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.28%
• DSCR: 1.46
• GRM: 7.6

CMA / ARV

• ARV (median comp): $177,625
• List price: $135,000
• Delta: -21.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 Cavender St	0.13mi	3/2.0	1,311 (-4%)	6mo	$243,900	$186	81
506 Daugherty St	0.22mi	3/1.5	1,340 (-2%)	3mo	$109,871	$82	81
402 Mcarthur St	0.10mi	3/2.0	1,244 (-9%)	0mo	$50,000	$40	80
505 Mclemore St	0.29mi	3/2.0	1,334 (-3%)	6mo	$253,900	$190	77
712 Mclemore St	0.22mi	3/2.0	1,294 (-6%)	5mo	$230,000	$178	76
802 Mclemore St	0.23mi	3/2.0	1,294 (-6%)	6mo	$212,000	$164	75
211 Thurman St	0.51mi	3/2.0	1,358 (-1%)	4mo	$45,000	$33	71
702.5 Henderson St	0.33mi	3/2.0	1,284 (-6%)	5mo	$240,000	$187	70
1125 S Chattanooga St	0.73mi	3/1.5	1,368 (-0%)	5mo	$170,000	$124	60
805 Daugherty Street St	0.41mi	3/2.0	1,200 (-12%)	2mo	$195,000	$163	59
307 S Duke St	0.68mi	4/2.0 (+1)	1,534 (+12%)	4mo	$213,000	$139	41
911 N Chattanooga St	0.74mi	3/2.0	1,536 (+12%)	7mo	$210,000	$137	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-1,273
• Equity at exit: $20,129

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $25,344
• Equity at exit: $11,672

Cash invested: $37,800 (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 30728

• Home prices YoY: -14.2%
• Active inventory: 220
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,487 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$86 /mo · $1,038/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $324

Break-even live

Break-even rent $1,077

Max offer price $135,000

Occupancy floor 73%

Sensitivity live

Price	-10% $400	-5% $362	+0% $324	+5% $286	+10% $248
Rent	-10% $206	-5% $265	+0% $324	+5% $383	+10% $441
Rate	-1.0pp $392	-0.5pp $358	base $324	+0.5pp $289	+1.0pp $253

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   pricedays on market $135,000 Active 37 DOM
2. 2026-06-18
   days on market $139,900 Active 34 DOM
3. 2026-06-17
   days on market $139,900 Active 33 DOM
4. 2026-06-16
   days on market $139,900 Active 32 DOM
5. 2026-06-15
   days on market $139,900 Active 31 DOM
6. 2026-06-14
   days on market $139,900 Active 29 DOM
7. 2026-06-13
   days on market $139,900 Active 28 DOM
8. 2026-06-10
   days on market $139,900 Active 26 DOM
9. 2026-06-09
   days on market $139,900 Active 25 DOM
10. 2026-06-09
    price $139,900 Active 24 DOM
11. 2026-06-08
    days on market $149,900 Active 24 DOM
12. 2026-06-07
    days on market $149,900 Active 23 DOM
13. 2026-06-05
    days on market $149,900 Active 20 DOM
14. 2026-06-03
    days on market $149,900 Active 19 DOM
15. 2026-06-02
    days on market $149,900 Active 18 DOM
16. 2026-06-01
    days on market $149,900 Active 17 DOM
17. 2026-05-31
    days on market $149,900 Active 16 DOM
18. 2026-05-30
    days on market $149,900 Active 15 DOM
19. 2026-05-15
    listed $159,900 Active 1063-char remark
20. 2026-03-12
    price $144,000
21. 2025-11-29
    price $145,000
22. 2024-12-09
    price $159,000

ⓘ 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: $1,038 · $86/mo
• Projected year-2 tax: $1,242 · $104/mo
• Expected delta: +$204/yr (+$17/mo · 19.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,843
• − Mortgage interest: −$7,562
• − Property taxes: −$1,038
• − Insurance: −$675
• − Repairs & maintenance: −$1,427
• − Management: −$1,427
• − Depreciation: −$3,927
• Taxable income: $1,785
• Est. tax owed @ 24.0%: −$428
• After-tax cash flow: $3,459/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: Walker County
• NCES district ID: 1305370
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $39,889
• Composite: 22.74/100
• National rank: #8035
• State rank: #114 of 174 in GA

Livability — LaFayette

• Score: 61/100
• State rank: #345
• US rank: #17893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: LaFayette, GA
• County: Walker County · 48,831 people
• City population: 18,790
• Metro: Chattanooga, TN-GA
• Population (ZIP): 18,790
• Household income: $55,455
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 233.0

Population outlook (Walker County) Hauer SSP2

• Today (2025): 66,050 people
• By 2030: 64,305 · -2.6%
• By 2040: 60,127 · -9.0%
• By 2050: 55,551 · -15.9%
• By 2075: 44,886 · -32.0%
• By 2100: 34,015 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 2%
• Foreign-born: 2% · South Korea
• Languages at home: 97% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Walker

• 2024 margin: Solid R (+59.3) · D 20.1% · R 79.4%
• 2008→2024 swing: -12.5pp toward R · 2008: -46.8pp · 2024: -59.3pp
• All cycles: 2024: R+59.3 2020: R+59.3 2016: R+61.5 2012: R+50.2 2008: R+46.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.02%
• Current HPI: 271.2944
• Rent YoY: —
• Metro: Chattanooga, TN-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

-12.0% since first listed

6 events — show timeline

• 2026-06-08 Price Changed $139,900 GCAR
• 2026-05-23 Price Changed $149,900 GCAR
• 2026-05-15 Listed $159,900 GCAR
• 2026-03-12 Price Changed $144,000 GCAR
• 2025-11-29 Price Changed $145,000 GCAR
• 2024-12-09 Price Changed $159,000 GCAR

Property tax history

+8.9%/yr

Latest (2025): $1,038 · -6.1% YoY. Source: county tax records.