413 E 2nd Ave · Cordele, GA 31015

$130,000

2 bd · 1.0 ba · 1,740 sqft · SingleFamily public records · 563 Days on market

Built 1960 0.28 ac lot $75/sqft · 21% below area Est $165k · 21% under

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Why this score? — see what drove the C- 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 +19.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.6/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this beautiful 5-bedroom, 3-bathroom home, thoughtfully designed to offer both space and style for modern family living. This property includes a living room and dining room combo, a cozy family room, and laundry room. The kitchen is fully equipped with modern appliances, ample cabinetry, and countertop space, ideal for everyday cooking and family meals. Each of the five bedrooms has flexibility for a home office, guest rooms, or additional living spaces. Outside, you'll find a fully fenced backyard, perfect for play, pets, and relaxation. A storage building offers added convenience for tools and outdoor gear. The detached 2-car carport ensures covered parking . Located in a welcoming neighborhood with convenient access to shopping, schools, and parks, this property provides everything you need for family-friendly living with style and comfort.

Key facts

• Storage building
• 0.28 acre lot
• 2 parking spots

Tags

• FULLY FENCED BACKYARD
• STORAGE BUILDING
• DETACHED 2-CAR CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/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 $125k (3.8% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.1% in Cordele — 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 53/100 on livability (#556 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Crisp County (rural): math 20% / reading 21% proficiency, ranked #143 of 174 in GA (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 166 active listings in the ZIP; 21 units permitted in Crisp County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Crisp County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 563 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $29k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $130k implies a 485% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 563 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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 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?
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: 0.96% ✗
• Cap rate: 7.69%
• Cash-on-cash: 5.00%
• DSCR: 1.22
• GRM: 8.7

CMA / ARV

• ARV (median comp): $165,215
• List price: $130,000
• Delta: -21.31%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 E 7th Ave	0.41mi	3/1.0 (+1)	1,808 (+4%)	9mo	$93,000	$51	62
310 S 3rd St	0.49mi	2/2.0	1,868 (+7%)	19mo	$111,000	$59	45
312 E 5 Ave	0.57mi	3/2.0 (+1)	1,847 (+6%)	19mo	$42,500	$23	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: -8.5%
• Equity multiple: 0.69×
• Total profit: $-11,416
• Equity at exit: $19,383

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $2,430
• Equity at exit: $11,240

Cash invested: $36,400 (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 31015

• Home prices YoY: -24.1%
• Active inventory: 166
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$100 /mo · $1,198/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $152

Break-even live

Break-even rent $1,058

Max offer price $130,000

Occupancy floor 83%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $130,000 Active 563 DOM
2. 2026-06-17
   days on market $130,000 Active 562 DOM
3. 2026-06-16
   days on market $130,000 Active 561 DOM
4. 2026-06-15
   days on market $130,000 Active 560 DOM
5. 2026-06-13
   pricedays on market $130,000 Active 558 DOM
6. 2026-06-12
   days on market $147,500 Active 557 DOM
7. 2026-06-09
   days on market $147,500 Active 554 DOM
8. 2026-06-08
   days on market $147,500 Active 553 DOM
9. 2026-06-07
   days on market $147,500 Active 552 DOM
10. 2026-06-07
    days on market $147,500 Active 551 DOM
11. 2026-06-04
    days on market $147,500 Active 548 DOM
12. 2026-06-02
    days on market $147,500 Active 547 DOM
13. 2026-06-01
    days on market $147,500 Active 546 DOM
14. 2026-05-31
    days on market $147,500 Active 545 DOM
15. 2026-05-31
    days on market $147,500 Active 544 DOM
16. 2025-11-17
    price $147,500 865-char remark

    Show marketing remark (865 chars)

    Discover this beautiful 5-bedroom, 3-bathroom home, thoughtfully designed to offer both space and style for modern family living. This property includes a living room and dining room combo, a cozy family room, and laundry room. The kitchen is fully equipped with modern appliances, ample cabinetry, and countertop space, ideal for everyday cooking and family meals. Each of the five bedrooms has flexibility for a home office, guest rooms, or additional living spaces. Outside, you'll find a fully fenced backyard, perfect for play, pets, and relaxation. A storage building offers added convenience for tools and outdoor gear. The detached 2-car carport ensures covered parking . Located in a welcoming neighborhood with convenient access to shopping, schools, and parks, this property provides everything you need for family-friendly living with style and comfort.

17. 2025-05-27
    status Active 865-char remark

    Show marketing remark (865 chars)

    Discover this beautiful 5-bedroom, 3-bathroom home, thoughtfully designed to offer both space and style for modern family living. This property includes a living room and dining room combo, a cozy family room, and laundry room. The kitchen is fully equipped with modern appliances, ample cabinetry, and countertop space, ideal for everyday cooking and family meals. Each of the five bedrooms has flexibility for a home office, guest rooms, or additional living spaces. Outside, you'll find a fully fenced backyard, perfect for play, pets, and relaxation. A storage building offers added convenience for tools and outdoor gear. The detached 2-car carport ensures covered parking . Located in a welcoming neighborhood with convenient access to shopping, schools, and parks, this property provides everything you need for family-friendly living with style and comfort.

18. 2025-05-27
    price $149,000 865-char remark

    Show marketing remark (865 chars)

    Discover this beautiful 5-bedroom, 3-bathroom home, thoughtfully designed to offer both space and style for modern family living. This property includes a living room and dining room combo, a cozy family room, and laundry room. The kitchen is fully equipped with modern appliances, ample cabinetry, and countertop space, ideal for everyday cooking and family meals. Each of the five bedrooms has flexibility for a home office, guest rooms, or additional living spaces. Outside, you'll find a fully fenced backyard, perfect for play, pets, and relaxation. A storage building offers added convenience for tools and outdoor gear. The detached 2-car carport ensures covered parking . Located in a welcoming neighborhood with convenient access to shopping, schools, and parks, this property provides everything you need for family-friendly living with style and comfort.

19. 2024-11-14
    listed $159,000 Active 865-char remark

    Show marketing remark (865 chars)

    Discover this beautiful 5-bedroom, 3-bathroom home, thoughtfully designed to offer both space and style for modern family living. This property includes a living room and dining room combo, a cozy family room, and laundry room. The kitchen is fully equipped with modern appliances, ample cabinetry, and countertop space, ideal for everyday cooking and family meals. Each of the five bedrooms has flexibility for a home office, guest rooms, or additional living spaces. Outside, you'll find a fully fenced backyard, perfect for play, pets, and relaxation. A storage building offers added convenience for tools and outdoor gear. The detached 2-car carport ensures covered parking . Located in a welcoming neighborhood with convenient access to shopping, schools, and parks, this property provides everything you need for family-friendly living with style and comfort.

20. 2006-11-01
    soldstatus $22,210
21. 1995-11-01
    soldstatus $30,000

ⓘ 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: $1,198 · $100/mo
• Projected year-2 tax: $1,198 · $100/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 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,000
• − Mortgage interest: −$7,282
• − Property taxes: −$1,198
• − Insurance: −$650
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,782
• Taxable loss: −$311
• Est. tax savings @ 24.0%: +$75
• After-tax cash flow: $1,896/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: Crisp County
• NCES district ID: 1301560
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 21% ▼ -7.00%
• Median HH income: $32,681
• Composite: 16.68/100
• National rank: #9168
• State rank: #143 of 174 in GA

Livability — Cordele

• Score: 53/100
• State rank: #556
• US rank: #24483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cordele, GA
• Population (ZIP): 18,615

Population outlook (Crisp County) Hauer SSP2

• Today (2025): 21,484 people
• By 2030: 20,594 · -4.1%
• By 2040: 18,691 · -13.0%
• By 2050: 16,769 · -21.9%
• By 2075: 12,329 · -42.6%
• By 2100: 8,591 · -60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 48% White 47% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 1% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Crisp

• 2024 margin: Strong R (+25.9) · D 36.9% · R 62.8%
• 2008→2024 swing: -8.2pp toward R · 2008: -17.7pp · 2024: -25.9pp
• All cycles: 2024: R+25.9 2020: R+24.9 2016: R+22.7 2012: R+13.8 2008: R+17.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.99%
• Current HPI: 182.3676
• 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

+391.7% since first listed

6 events — show timeline

• 2025-11-17 Price Changed $147,500 CABOR
• 2025-05-27 Relisted — CABOR
• 2025-05-27 Price Changed $149,000 CABOR
• 2024-11-14 Listed $159,000 CABOR
• 2006-11-01 Sold (Public Records) $22,210 Public Records
• 1995-11-01 Sold (Public Records) $30,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $1,198 · +126.2% YoY. Source: county tax records.