246 Bridgewater Ln · Newnan, GA 30265

$299,000

3 bd · 2.5 ba · 2,140 sqft · SingleFamily public records · 126 Days on market

Built 1995 0.77 ac lot $140/sqft · 17% below area Est $453k · 34% under $18/mo HOA · 1% of rent

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.0/30.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this 2 story ranch in the beautiful Shenandoah community in Newnan! This home features 3 spacious bedrooms plus a large bonus room upstairs. Master bedroom has additional sitting area, with expansive walk in closet, separate shower and whirlpool tub. On the main level there is a sunroom off the back of the kitchen and dining area. Located minutes from shopping, dining, hospital and interstate 85. Home is need of some repairs but is loaded with space and potential. Bring your hammer and take this opportunity to add your personal touches and build equity in a great neighborhood.

Key facts

• 0.77 acre lot
• Garage
• Built 1995

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-234 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (26.8% below list).
• Recommended offer: $219k (26.8% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.8% in Newnan — 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 66/100 on livability (#184 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, employment B; Watch: crime F, amenities F, commute F.
• Coweta County (rural): math 37% / reading 43% proficiency, ranked #36 of 174 in GA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Newnan Crossing Elementary School (math 40% / reading 40%, grade F, #427 of 1,228 statewide, top 35%, 897 students, 39% FRL); Arnall Middle School (math 31% / reading 40%, grade F, #185 of 470 statewide, top 40%, 713 students, 52% FRL); East Coweta High School (math 22% / reading 38%, grade F, #135 of 424 statewide, top 32%, 3,212 students, 30% FRL) — zoned schools at 41% FRL track the district average.
• Market conditions: Rents soft (-2.4%/yr); 320 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 963 units permitted in Coweta County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Coweta County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $180k; list at $299k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,004 (26.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.73% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.36%
• DSCR: 0.85
• GRM: 11.4

CMA / ARV

• ARV (median comp): $452,526
• List price: $299,000
• Delta: -33.93%
• 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
135 Valley Brook Dr	0.33mi	4/2.5 (+1)	2,082 (-3%)	1mo	$375,000	$180	74
24 Stonebridge Pass	0.18mi	3/2.5	2,416 (+13%)	6mo	$420,000	$174	65
131 Bridgewater Ln	0.20mi	4/2.5 (+1)	1,862 (-13%)	2mo	$305,999	$164	62
18 Stone Ct	0.44mi	4/4.0 (+1)	2,214 (+4%)	4mo	$420,000	$190	60
10 Georgian Oaks Ct	0.29mi	4/3.5 (+1)	2,344 (+10%)	11mo	$415,000	$177	52
152 Stonebridge Xing	0.58mi	3/2.0	1,905 (-11%)	6mo	$365,000	$192	48
10 Buckthorne Dr	0.62mi	3/3.0	1,876 (-12%)	5mo	$281,000	$150	44
69 Majestic Dr	0.55mi	3/2.0	1,864 (-13%)	10mo	$370,000	$198	42
3 Camphor Dr	0.45mi	4/3.0 (+1)	1,836 (-14%)	11mo	$315,000	$172	39
5 Buttonbush Ct	0.72mi	4/2.0 (+1)	1,946 (-9%)	10mo	$325,000	$167	36
40 Burwick Ct #10	0.68mi	4/3.0 (+1)	2,441 (+14%)	9mo	$520,750	$213	30
44 Burwick Ct	0.68mi	4/3.0 (+1)	2,441 (+14%)	10mo	$527,450	$216	29

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: -25.2%
• Equity multiple: 0.17×
• Total profit: $-69,826
• Equity at exit: $44,582

10-year hold

• IRR: -33.1%
• Equity multiple: -0.25×
• Total profit: $-104,948
• Equity at exit: $25,852

Cash invested: $83,720 (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 30265

• Home prices YoY: -27.6%
• Rents YoY: -2.4%
• Active inventory: 320
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,190 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$254 /mo · $3,047/yr
• Insurance: −$125
• HOA: −$18
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $-234

Break-even live

Break-even rent $2,487

Max offer price $257,598

Occupancy floor —

Sensitivity live

Price	-10% $-65	-5% $-150	+0% $-234	+5% $-319	+10% $-404
Rent	-10% $-407	-5% $-321	+0% $-234	+5% $-148	+10% $-61
Rate	-1.0pp $-84	-0.5pp $-158	base $-234	+0.5pp $-312	+1.0pp $-391

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Lakeside Way Newnan, GA	1.0–4.0	1.0–2.5	1354	$1,897	$1.40	0d	33	0.49mi
92 Majestic Dr Newnan, GA	3.0	2.0	1600	$2,000	$1.25	12d	1	0.51mi
207 Granite Way Newnan, GA	3.0	2.5	1926	$1,895	$0.98	3d	1	0.61mi
99 Stonebridge Xing Newnan, GA	4.0	2.5	2537	$2,329	$0.92	45d	1	0.65mi
7 Carrington Way Newnan, GA	4.0	3.0	2010	$2,499	$1.24	45d	1	0.81mi
151 Parkway N Newnan, GA	1.0–4.0	1.0–3.0	1135	$1,647	$1.45	0d	12	0.93mi
148 White Oak Dr Newnan, GA	3.0	2.5	2648	$2,590	$0.98	20d	1	1.10mi
22 Nickel Dr Newnan, GA	3.0	3.5	1919	$2,280	$1.19	5d	1	1.12mi
1 Overlook Dr Newnan, GA	4.0	3.0	2996	$2,910	$0.97	12d	1	1.15mi
17 Westhill Dr Newnan, GA	3.0	2.0	1928	$2,305	$1.20	18d	1	1.16mi
33 Cobalt Ln Newnan, GA	3.0	3.5	1919	$2,195	$1.14	45d	1	1.19mi
33 Cobalt Ln Newnan, GA	3.0	3.5	1919	$2,195	$1.14	25d	1	1.19mi
6 Iron DR #91 Newnan, GA	3.0	3.5	1920	$2,100	$1.09	25d	1	1.19mi
341 Hunterian Pl Newnan, GA	3.0	2.0	1605	$2,150	$1.34	6d	1	1.21mi
357 Hunterian Pl Newnan, GA	3.0	2.0	1714	$2,060	$1.20	3d	1	1.23mi
153 Southwind Cir Newnan, GA	4.0	2.5	2040	$1,996	$0.98	0d	1	1.25mi
201 Southwind Cir Newnan, GA	4.0	2.5	2044	$2,041	$1.00	6d	1	1.26mi
260 Stillwood Dr Newnan, GA	3.0	2.5	1751	$1,950	$1.11	45d	1	1.29mi
276 Stillwood Dr Newnan, GA	4.0	2.5	2109	$2,150	$1.02	45d	1	1.30mi
121 Southwind Cir Newnan, GA	3.0	3.0	2064	$2,119	$1.03	18d	1	1.32mi
22 Tillbrook Trl Newnan, GA	3.0	2.0	1657	$2,110	$1.27	5d	1	1.32mi
166 Seabreeze Ct Newnan, GA	4.0	2.5	2432	$2,175	$0.89	45d	1	1.39mi
175 Stillwood Dr Newnan, GA	4.0	2.5	2095	$2,200	$1.05	45d	1	1.40mi
158 Stillwood Dr Newnan, GA	4.0	2.5	2076	$2,055	$0.99	45d	1	1.41mi
227 Village Park Dr Newnan, GA	3.0	2.0	1574	$2,400	$1.52	45d	1	1.42mi
215 Village Park Dr Newnan, GA	3.0	2.0	1430	$2,030	$1.42	3d	1	1.43mi

HOA detail

• Monthly dues: $18 · $216/yr
• Likely covers: pool

Listing history 28 events

1. 2026-06-21
   days on market $299,000 Active 126 DOM
2. 2026-06-18
   days on market $299,000 Active 123 DOM
3. 2026-06-17
   days on market $299,000 Active 122 DOM
4. 2026-06-16
   days on market $299,000 Active 121 DOM
5. 2026-06-15
   days on market $299,000 Active 120 DOM
6. 2026-06-13
   days on market $299,000 Active 118 DOM
7. 2026-06-09
   days on market $299,000 Active 114 DOM
8. 2026-06-08
   days on market $299,000 Active 113 DOM
9. 2026-06-07
   days on market $299,000 Active 112 DOM
10. 2026-06-04
    days on market $299,000 Active 109 DOM
11. 2026-06-03
    days on market $299,000 Active 108 DOM
12. 2026-06-02
    days on market $299,000 Active 107 DOM
13. 2026-06-01
    days on market $299,000 Active 106 DOM
14. 2026-05-31
    days on market $299,000 Active 105 DOM
15. 2026-03-21
    price $299,000 599-char remark

    Show marketing remark (599 chars)

    Welcome home to this 2 story ranch in the beautiful Shenandoah community in Newnan! This home features 3 spacious bedrooms plus a large bonus room upstairs. Master bedroom has additional sitting area, with expansive walk in closet, separate shower and whirlpool tub. On the main level there is a sunroom off the back of the kitchen and dining area. Located minutes from shopping, dining, hospital and interstate 85. Home is need of some repairs but is loaded with space and potential. Bring your hammer and take this opportunity to add your personal touches and build equity in a great neighborhood.

16. 2026-02-16
    listed $309,000 New 599-char remark

    Show marketing remark (599 chars)

    Welcome home to this 2 story ranch in the beautiful Shenandoah community in Newnan! This home features 3 spacious bedrooms plus a large bonus room upstairs. Master bedroom has additional sitting area, with expansive walk in closet, separate shower and whirlpool tub. On the main level there is a sunroom off the back of the kitchen and dining area. Located minutes from shopping, dining, hospital and interstate 85. Home is need of some repairs but is loaded with space and potential. Bring your hammer and take this opportunity to add your personal touches and build equity in a great neighborhood.

17. 2026-02-16
    historical $309,000 599-char remark

    Show marketing remark (599 chars)

    Welcome home to this 2 story ranch in the beautiful Shenandoah community in Newnan! This home features 3 spacious bedrooms plus a large bonus room upstairs. Master bedroom has additional sitting area, with expansive walk in closet, separate shower and whirlpool tub. On the main level there is a sunroom off the back of the kitchen and dining area. Located minutes from shopping, dining, hospital and interstate 85. Home is need of some repairs but is loaded with space and potential. Bring your hammer and take this opportunity to add your personal touches and build equity in a great neighborhood.

18. 2017-05-22
    soldstatus $180,000
19. 2017-05-15
    soldstatus $180,000 Sold 602-char remark

    Show marketing remark (602 chars)

    Entire house has just been renovated! Brand new flooring, new paint, new granite countertops and ceramic backsplash, new appliances and new fixtures. Master Bedroom features trey ceilings and comes with a walk in closet. The master bathroom features his / hers sinks and a jacuzzi tub. The house also features a multi functional bonus room. The backyard is perfect for pets. Secondary bedrooms are very spacious whether for adults or kids. Located right on a cul-de-sac. The front porch is ideal for coffee in the morning or hanging out with friends and family in the cool of lovely Autumn evenings.

20. 2017-03-30
    status Under Contract 602-char remark

    Show marketing remark (602 chars)

    Entire house has just been renovated! Brand new flooring, new paint, new granite countertops and ceramic backsplash, new appliances and new fixtures. Master Bedroom features trey ceilings and comes with a walk in closet. The master bathroom features his / hers sinks and a jacuzzi tub. The house also features a multi functional bonus room. The backyard is perfect for pets. Secondary bedrooms are very spacious whether for adults or kids. Located right on a cul-de-sac. The front porch is ideal for coffee in the morning or hanging out with friends and family in the cool of lovely Autumn evenings.

21. 2017-03-30
    listed $179,900 New 602-char remark

    Show marketing remark (602 chars)

    Entire house has just been renovated! Brand new flooring, new paint, new granite countertops and ceramic backsplash, new appliances and new fixtures. Master Bedroom features trey ceilings and comes with a walk in closet. The master bathroom features his / hers sinks and a jacuzzi tub. The house also features a multi functional bonus room. The backyard is perfect for pets. Secondary bedrooms are very spacious whether for adults or kids. Located right on a cul-de-sac. The front porch is ideal for coffee in the morning or hanging out with friends and family in the cool of lovely Autumn evenings.

22. 2017-03-30
    price $180,000 602-char remark

    Show marketing remark (602 chars)

    Entire house has just been renovated! Brand new flooring, new paint, new granite countertops and ceramic backsplash, new appliances and new fixtures. Master Bedroom features trey ceilings and comes with a walk in closet. The master bathroom features his / hers sinks and a jacuzzi tub. The house also features a multi functional bonus room. The backyard is perfect for pets. Secondary bedrooms are very spacious whether for adults or kids. Located right on a cul-de-sac. The front porch is ideal for coffee in the morning or hanging out with friends and family in the cool of lovely Autumn evenings.

23. 2017-03-30
    historical

    Show marketing remark (602 chars)

    Entire house has just been renovated! Brand new flooring, new paint, new granite countertops and ceramic backsplash, new appliances and new fixtures. Master Bedroom features trey ceilings and comes with a walk in closet. The master bathroom features his / hers sinks and a jacuzzi tub. The house also features a multi functional bonus room. The backyard is perfect for pets. Secondary bedrooms are very spacious whether for adults or kids. Located right on a cul-de-sac. The front porch is ideal for coffee in the morning or hanging out with friends and family in the cool of lovely Autumn evenings.

24. 2017-02-28
    price $179,900
25. 2016-12-29
    listed $185,000 New
26. 2016-08-19
    soldstatus $130,200 Sold
27. 2016-07-21
    status Under Contract
28. 2016-07-02
    listed $165,000 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: $3,047 · $254/mo
• Projected year-2 tax: $3,047 · $254/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,280
• − Mortgage interest: −$16,749
• − Property taxes: −$3,047
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,102
• − Management: −$2,102
• − HOA: −$216
• − Depreciation: −$8,698
• Taxable loss: −$8,129
• Est. tax savings @ 24.0%: +$1,951
• After-tax cash flow: $-861/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: Coweta County
• NCES district ID: 1301500
• Math proficiency: 37% ▼ -16.00%
• Reading proficiency: 43% ▼ -11.00%
• Median HH income: $62,978
• Composite: 35.72/100
• National rank: #4860
• State rank: #36 of 174 in GA

Livability — Newnan

• Score: 66/100
• State rank: #184
• US rank: #11578

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Coweta County · 148,589 people
• City population: 101,637
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 39,942
• Household income: $108,144
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 610.0

Population outlook (Coweta County) Hauer SSP2

• Today (2025): 162,063 people
• By 2030: 173,373 · +7.0%
• By 2040: 194,658 · +20.1%
• By 2050: 212,246 · +31.0%
• By 2075: 246,544 · +52.1%
• By 2100: 257,059 · +58.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 18% Hispanic / Latino 8% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 3% Lithuanian 3% Italian 3%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Coweta

• 2024 margin: Solid R (+33.9) · D 32.7% · R 66.6%
• 2008→2024 swing: +7.3pp toward D · 2008: -41.2pp · 2024: -33.9pp
• All cycles: 2024: R+33.9 2020: R+35.5 2016: R+42.3 2012: R+44.1 2008: R+41.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.80%
• Current HPI: 222.3661
• Rent YoY: ▼ -2.35%
• 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

+81.2% since first listed

14 events — show timeline

• 2026-03-21 Price Changed $299,000 GAMLS
• 2026-02-16 Listed $309,000 GAMLS
• 2026-02-16 Coming Soon $309,000 GAMLS
• 2017-05-22 Sold (Public Records) $180,000 Public Records
• 2017-05-15 Sold (MLS) $180,000 GAMLS
• 2017-03-30 Pending — GAMLS
• 2017-03-30 Listed $179,900 GAMLS
• 2017-03-30 Listing Removed — GAMLS
• 2017-03-30 Price Changed $180,000 GAMLS
• 2017-02-28 Price Changed $179,900 GAMLS
• 2016-12-29 Listed $185,000 GAMLS
• 2016-08-19 Sold (MLS) $130,200 GAMLS
• 2016-07-21 Pending — GAMLS
• 2016-07-02 Listed $165,000 GAMLS

Property tax history

+2.4%/yr

Latest (2025): $3,047 · +10.2% YoY. Source: county tax records.