9822 Jones St · Sparta, GA 31087

$56,000

2 bd · 1.0 ba · 1,111 sqft · SingleFamily public records · 35 Days on market

Built 1900 0.96 ac lot $50/sqft · 42% below area Est $97k · 42% under ↓ 29% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.0/10.0
• Schools +0.5/10.0

Listing remarks MLS

Step back in time with this adorable cottage/bungalow in Historic Sparta! Built in 1900, this charming and versatile home has good bones awaiting your personal touch. Nestled on almost an acre under beautiful pecan trees, and walkable distance to shopping, dining, and town square. Wonderful investment property or fixer upper. Two bedroom/one bath with welcoming front porch and hallway, dining room/parlor, spacious bedrooms, and back porch for rear entry. High ceilings and tall windows grace each room. Original trim work, plaster, and hardwood floors. Vintage charm with an open slate for new ideas. Dual-sided fireplaces adorn each room, and antique doorknobs whisper tales of days gone by. Make this a restoration project, an investment option, or utilize for full-time living. Don't miss your chance to own this special piece of history. Call today to schedule a tour!

Key facts

• Tall windows
• Historic sparta
• Front porch

Tags

• HISTORIC SPARTA
• PECAN TREES
• FRONT PORCH
• BACK PORCH
• HIGH CEILINGS
• TALL WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• Recommended offer: $54k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#383 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: schools F, amenities F, commute F.
• Hancock County (rural): math 3% / reading 12% proficiency, ranked #173 of 174 in GA (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 120 active listings in the ZIP; 28 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $387 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Hancock County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 $54,320 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1900 — 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. 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.
6. 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.
7. 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: 2.34% ✓
• Cap rate: 20.90%
• Cash-on-cash: 52.18%
• DSCR: 3.32
• GRM: 3.6

CMA / ARV

• ARV (median comp): $97,155
• List price: $56,000
• Delta: -18.69%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 Britt St	0.54mi	3/2.0 (+1)	960 (-14%)	6mo	$75,000	$78	38

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: 50.1%
• Equity multiple: 3.19×
• Total profit: $34,347
• Equity at exit: $8,350

10-year hold

• IRR: 55.6%
• Equity multiple: 6.47×
• Total profit: $85,822
• Equity at exit: $4,842

Cash invested: $15,680 (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 31087

• Home prices YoY: -3.8%
• Active inventory: 120
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,313 medium
• Mortgage (P&I): −$294
• Tax from tax record: −$38 /mo · $458/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $682

Break-even live

Break-even rent $450

Max offer price $56,000

Occupancy floor 43%

Sensitivity live

Price	-10% $713	-5% $698	+0% $682	+5% $666	+10% $650
Rent	-10% $578	-5% $630	+0% $682	+5% $734	+10% $785
Rate	-1.0pp $710	-0.5pp $696	base $682	+0.5pp $667	+1.0pp $652

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: $14,000
• Closing costs: $1,680
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $56,000 Active 35 DOM
2. 2026-06-19
   days on market $56,000 Active 33 DOM
3. 2026-06-18
   days on market $56,000 Active 32 DOM
4. 2026-06-17
   days on market $56,000 Active 31 DOM
5. 2026-06-16
   days on market $56,000 Active 30 DOM
6. 2026-06-15
   days on market $56,000 Active 29 DOM
7. 2026-06-14
   days on market $56,000 Active 27 DOM
8. 2026-06-12
   days on market $56,000 Active 26 DOM
9. 2026-06-09
   days on market $56,000 Active 23 DOM
10. 2026-06-08
    days on market $56,000 Active 22 DOM
11. 2026-06-07
    days on market $56,000 Active 21 DOM
12. 2026-06-05
    days on market $56,000 Active 18 DOM
13. 2026-06-03
    days on market $56,000 Active 17 DOM
14. 2026-06-02
    days on market $56,000 Active 16 DOM
15. 2026-06-01
    days on market $56,000 Active 15 DOM
16. 2026-05-31
    statusdays on market $56,000 Active 14 DOM
17. 2026-05-30
    days on market $56,000 New 13 DOM
18. 2026-05-16
    historical
19. 2026-05-13
    listed $56,000 New 876-char remark

    Show marketing remark (876 chars)

    Step back in time with this adorable cottage/bungalow in Historic Sparta! Built in 1900, this charming and versatile home has good bones awaiting your personal touch. Nestled on almost an acre under beautiful pecan trees, and walkable distance to shopping, dining, and town square. Wonderful investment property or fixer upper. Two bedroom/one bath with welcoming front porch and hallway, dining room/parlor, spacious bedrooms, and back porch for rear entry. High ceilings and tall windows grace each room. Original trim work, plaster, and hardwood floors. Vintage charm with an open slate for new ideas. Dual-sided fireplaces adorn each room, and antique doorknobs whisper tales of days gone by. Make this a restoration project, an investment option, or utilize for full-time living. Don't miss your chance to own this special piece of history. Call today to schedule a tour!

20. 2026-02-16
    listed $78,999 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: $458 · $38/mo
• Projected year-2 tax: $515 · $43/mo
• Expected delta: +$57/yr (+$5/mo · 12.5%)

ⓘ 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 7/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,751
• − Mortgage interest: −$3,137
• − Property taxes: −$458
• − Insurance: −$280
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − Depreciation: −$1,629
• Taxable income: $7,727
• Est. tax owed @ 24.0%: −$1,854
• After-tax cash flow: $6,327/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: Hancock County
• NCES district ID: 1302640
• Math proficiency: 3% ▼ -5.00%
• Reading proficiency: 12% ▼ -8.00%
• Median HH income: $26,519
• Composite: 5.27/100
• National rank: #10034
• State rank: #173 of 174 in GA

Livability — Sparta

• Score: 60/100
• State rank: #383
• US rank: #19278

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sparta, GA
• Population (ZIP): 8,679

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 7,443 people
• By 2030: 6,846 · -8.0%
• By 2040: 5,713 · -23.2%
• By 2050: 4,912 · -34.0%
• By 2075: 3,967 · -46.7%
• By 2100: 3,398 · -54.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 26% Two or more races 1%
• Common ancestry: Slovak 1% Iranian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid D (+35.4) · D 67.5% · R 32.2%
• 2008→2024 swing: -27.7pp toward R · 2008: 63.1pp · 2024: 35.4pp
• All cycles: 2024: D+35.4 2020: D+43.9 2016: D+51.9 2012: D+62.2 2008: D+63.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.00%
• Current HPI: 200.3531
• Rent YoY: —
• Metro: —
• 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

-29.1% since first listed

3 events — show timeline

• 2026-05-16 Listing Removed — GAMLS
• 2026-05-13 Listed $56,000 GAMLS
• 2026-02-16 Listed $78,999 GAMLS

Property tax history

+0.8%/yr

Latest (2025): $458 · +24.6% YoY. Source: county tax records.