309 Fletcher Dr · Statesboro, GA 30458

$225,000

3 bd · 2.0 ba · 2,105 sqft · SingleFamily public records · 11 Days on market

Built 1962 1.37 ac lot Est $269k · 16% under

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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 +14.9/15.0
• Cash flow +14.5/30.0
• DSCR +4.4/10.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• Rent growth +2.9/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a 3 bedroom, 2 bathroom home for sale in the Fletcher neighborhood. It features a fireplace, carpet and vinyl flooring, and hardwood floors. The property also boasts a beautiful lot of 1.37 acres.

Key facts

• Vapor barrier
• Storage building
• Brick home

Tags

• BRICK HOME
• STORAGE BUILDING
• VAPOR BARRIER

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence; House structure; Resale property
• Construction: Brick construction; Composition roof; Built in 1962; Crawl space foundation
• Exterior features: Level lot

Interior

• Kitchen: Cooktop
• Bedrooms: 3 bedrooms on the main level
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One-level living; Family room
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $47 ($569/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (17.4% below list).
• Recommended offer: $186k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.6% in Statesboro — 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 68/100 on livability (#151 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities C-, crime D+, commute F.
• Bulloch County (rural): math 32% / reading 33% proficiency, ranked #85 of 174 in GA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: William James Middle School (math 27% / reading 39%, grade F, #213 of 470 statewide, top 47%, 577 students, 66% FRL); Statesboro High School (math 15% / reading 12%, grade F, #325 of 424 statewide, top 78%, 1,760 students, 63% FRL).
• Market conditions: Rents rising (+1.6%/yr); 339 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 668 units permitted in Bulloch County in 2024 (6 in 5+ unit buildings).
• This rent runs 43% of the median local income ($52k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Bulloch County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $160k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,852 (17.4% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.83% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.90%
• DSCR: 1.04
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $269,440
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Fletcher Dr	0.00mi	3/2.0	2,105 (0%)	0mo	$200,000	$95	100
113 Ladd Cir	0.27mi	3/2.0	2,083 (-1%)	4mo	$265,000	$127	82
203 Fletcher Dr	0.11mi	3/2.0	2,099 (-0%)	16mo	$268,000	$128	81
109 Debbie Dr	0.60mi	3/2.0	2,090 (-1%)	17mo	$283,500	$136	57
108 Norwood Dr	0.51mi	4/2.0 (+1)	1,851 (-12%)	5mo	$255,000	$138	47
31 Jef Rd	0.73mi	3/2.0	1,815 (-14%)	23mo	$230,000	$127	24

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 · 1.62% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.43×
• Total profit: $-36,037
• Equity at exit: $33,548

10-year hold

• IRR: -10.5%
• Equity multiple: 0.40×
• Total profit: $-37,870
• Equity at exit: $19,454

Cash invested: $63,000 (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 30458

• Home prices YoY: -32.1%
• Rents YoY: 1.6%
• Active inventory: 339
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,859 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$147 /mo · $1,765/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $47

Break-even live

Break-even rent $1,798

Max offer price $225,000

Occupancy floor 92%

Sensitivity live

Price	-10% $175	-5% $111	+0% $47	+5% $-16	+10% $-80
Rent	-10% $-99	-5% $-26	+0% $47	+5% $121	+10% $194
Rate	-1.0pp $161	-0.5pp $105	base $47	+0.5pp $-11	+1.0pp $-70

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
199 Zetterower Rd Statesboro, GA	4.0	2.0	1600	$2,000	$1.25	44d	1	0.78mi
429 Allman Ave Statesboro, GA	3.0	2.0	1565	$1,850	$1.18	44d	1	1.02mi
607 Jodi Pl Statesboro, GA	3.0	2.0	1565	$1,800	$1.15	44d	1	1.03mi
620 Jodi Pl Statesboro, GA	3.0	2.0	1565	$1,900	$1.21	44d	1	1.04mi
133 Braxton Blvd Statesboro, GA	3.0	2.0	1565	$1,900	$1.21	44d	1	1.06mi
103 Pearson Ln Statesboro, GA	3.0	2.5	1520	$1,650	$1.09	44d	1	1.06mi
197 Braxton Blvd Statesboro, GA	3.0	2.0–2.5	1517	$1,825	$1.20	44d	13	1.07mi
190 Braxton Blvd Statesboro, GA	3.0	2.0	1565	$1,900	$1.21	44d	1	1.08mi
193 Braxton Blvd Statesboro, GA	3.0	2.0	1565	$1,850	$1.18	44d	1	1.08mi
177 Braxton Blvd Statesboro, GA	3.0	2.0	1565	$1,850	$1.18	44d	1	1.10mi
205 Willis Way Statesboro, GA	3.0	2.0	1565	$1,900	$1.21	44d	1	1.11mi
213 Willis Way Statesboro, GA	3.0	2.0	1565	$1,900	$1.21	44d	1	1.11mi
153 Braxton Blvd Statesboro, GA	3.0	2.0	1565	$1,850	$1.18	44d	1	1.13mi
169 Braxton Blvd Statesboro, GA	3.0	2.0	1565	$1,850	$1.18	44d	1	1.13mi
532 Cade Ave Statesboro, GA	3.0	2.0	1470	$1,800	$1.22	44d	1	1.13mi
233 Willis Way Statesboro, GA	3.0	2.0	1565	$1,900	$1.21	44d	1	1.13mi
241 Willis Way Statesboro, GA	3.0	2.0	1565	$1,900	$1.21	44d	1	1.14mi
253 Willis Way Statesboro, GA	3.0	2.0	1470	$1,950	$1.33	44d	1	1.15mi
265 Willis Way Statesboro, GA	3.0	2.0	1470	$1,850	$1.26	44d	1	1.16mi
522 Miller Street Ext Statesboro, GA	1.0–3.0	1.5–2.5	1165	$3,201	$2.75	44d	9	1.46mi

Listing history 5 events

1. 2026-04-13
   listed $225,000 New
2. 2023-04-20
   soldstatus $160,000 Sold 204-char remark

   Show marketing remark (204 chars)

   This is a 3 bedroom, 2 bathroom home for sale in the Fletcher neighborhood. It features a fireplace, carpet and vinyl flooring, and hardwood floors. The property also boasts a beautiful lot of 1.37 acres.

3. 2023-04-20
   soldstatus $160,000

   Show marketing remark (204 chars)

   This is a 3 bedroom, 2 bathroom home for sale in the Fletcher neighborhood. It features a fireplace, carpet and vinyl flooring, and hardwood floors. The property also boasts a beautiful lot of 1.37 acres.

4. 2023-01-25
   status Under Contract 204-char remark

   Show marketing remark (204 chars)

   This is a 3 bedroom, 2 bathroom home for sale in the Fletcher neighborhood. It features a fireplace, carpet and vinyl flooring, and hardwood floors. The property also boasts a beautiful lot of 1.37 acres.

5. 2023-01-09
   listed $149,500 New 204-char remark

   Show marketing remark (204 chars)

   This is a 3 bedroom, 2 bathroom home for sale in the Fletcher neighborhood. It features a fireplace, carpet and vinyl flooring, and hardwood floors. The property also boasts a beautiful lot of 1.37 acres.

ⓘ 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: $1,765 · $147/mo
• Projected year-2 tax: $2,070 · $172/mo
• Expected delta: +$305/yr (+$25/mo · 17.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,302
• − Mortgage interest: −$12,603
• − Property taxes: −$1,765
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,784
• − Management: −$1,784
• − Depreciation: −$6,545
• Taxable loss: −$3,305
• Est. tax savings @ 24.0%: +$793
• After-tax cash flow: $1,363/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: Bulloch County
• NCES district ID: 1300630
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 33% ▼ -8.00%
• Median HH income: $36,335
• Composite: 26.97/100
• National rank: #7074
• State rank: #85 of 174 in GA

Livability — Statesboro

• Score: 68/100
• State rank: #151
• US rank: #9809

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Statesboro, GA
• County: Bulloch County · 73,507 people
• City population: 67,164
• Metro: Statesboro, GA
• Population (ZIP): 49,717
• Household income: $52,038
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3020.0

Population outlook (Bulloch County) Hauer SSP2

• Today (2025): 79,935 people
• By 2030: 83,796 · +4.8%
• By 2040: 89,717 · +12.2%
• By 2050: 94,558 · +18.3%
• By 2075: 104,376 · +30.6%
• By 2100: 112,857 · +41.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 53% Black 36% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 1% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3%

Political lean MEDSL · Bulloch

• 2024 margin: Strong R (+29.0) · D 35.3% · R 64.3%
• 2008→2024 swing: -9.8pp toward R · 2008: -19.2pp · 2024: -29.0pp
• All cycles: 2024: R+29.0 2020: R+23.7 2016: R+23.4 2012: R+19.1 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.47%
• Current HPI: 201.6684
• Rent YoY: ▲ 1.62%
• Metro: Statesboro, 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

+50.5% since first listed

5 events — show timeline

• 2026-04-13 Listed $225,000 GAMLS
• 2023-04-20 Sold (Public Records) $160,000 Public Records
• 2023-04-20 Sold (MLS) $160,000 GAMLS
• 2023-01-25 Pending — GAMLS
• 2023-01-09 Listed $149,500 GAMLS

Property tax history

+9.5%/yr

Latest (2025): $1,765 · +43.0% YoY. Source: county tax records.