404 Fisherman Cutoff · Fort Gaines, GA 36310

$74,500

3 bd · 1.0 ba · 1,600 sqft · SingleFamily public records · 214 Days on market

Built 1986 0.60 ac lot $47/sqft · 81% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +2.8/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great Investment Opportunity – 3 Bedroom, 2 Bathroom Home Near Thomas Mill Creek offers excellent potential for the right buyer. This home features a primary suite on the main level with two additional bedrooms and a bathroom upstairs, along with an open kitchen layout ready for you to design and personalize. While the home needs TLC, it provides a solid starting point for renovation or a custom rebuild. This property is also unrestricted, giving you the freedom to use the land as you choose. Call today and let your vision bring it back to life!

Key facts

• Primary suite
• Open kitchen layout
• 0.6 acre lot

Tags

• INVESTMENT OPPORTUNITY
• PRIMARY SUITE
• OPEN KITCHEN LAYOUT
• UNRESTRICTED PROPERTY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $720 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.9% vs local median 3.4% in Fort Gaines — 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 51/100 on livability (#573 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, schools F, crime F.
• Henry County (rural): math 21% / reading 45% proficiency, ranked #55 of 129 in AL (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 71 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($515 loan paydown + $7k appreciation (10.0% local appreciation)).
• Henry County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 214 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 96% 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 $65,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 214 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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?
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: 2.07% ✓
• Cap rate: 17.88%
• Cash-on-cash: 41.39%
• DSCR: 2.84
• GRM: 4.0

CMA / ARV

• ARV (median comp): $251,493
• List price: $74,500
• Delta: -70.38%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 56.4%
• Equity multiple: 5.14×
• Total profit: $86,414
• Equity at exit: $67,116

10-year hold

• IRR: 49.9%
• Equity multiple: 11.47×
• Total profit: $218,461
• Equity at exit: $144,737

Cash invested: $20,860 (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 36310

• Home prices YoY: 19.7%
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,540 medium
• Mortgage (P&I): −$391
• Tax from tax record: −$75 /mo · $901/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $720

Break-even live

Break-even rent $629

Max offer price $74,500

Occupancy floor 48%

Sensitivity live

Price	-10% $762	-5% $741	+0% $720	+5% $698	+10% $677
Rent	-10% $598	-5% $659	+0% $720	+5% $780	+10% $841
Rate	-1.0pp $757	-0.5pp $738	base $720	+0.5pp $700	+1.0pp $681

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: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $74,500 Active 214 DOM
2. 2026-06-19
   days on market $74,500 Active 212 DOM
3. 2026-06-18
   days on market $74,500 Active 211 DOM
4. 2026-06-17
   days on market $74,500 Active 210 DOM
5. 2026-06-16
   days on market $74,500 Active 209 DOM
6. 2026-06-15
   days on market $74,500 Active 208 DOM
7. 2026-06-14
   days on market $74,500 Active 206 DOM
8. 2026-06-12
   days on market $74,500 Active 205 DOM
9. 2026-06-09
   days on market $74,500 Active 202 DOM
10. 2026-06-08
    days on market $74,500 Active 201 DOM
11. 2026-06-07
    days on market $74,500 Active 200 DOM
12. 2026-06-03
    days on market $74,500 Active 196 DOM
13. 2026-06-02
    days on market $74,500 Active 195 DOM
14. 2026-06-01
    days on market $74,500 Active 194 DOM
15. 2026-05-31
    days on market $74,500 Active 193 DOM
16. 2026-05-30
    days on market $74,500 Active 192 DOM
17. 2025-11-19
    listed $74,500 Active 557-char remark

    Show marketing remark (557 chars)

    Great Investment Opportunity – 3 Bedroom, 2 Bathroom Home Near Thomas Mill Creek offers excellent potential for the right buyer. This home features a primary suite on the main level with two additional bedrooms and a bathroom upstairs, along with an open kitchen layout ready for you to design and personalize. While the home needs TLC, it provides a solid starting point for renovation or a custom rebuild. This property is also unrestricted, giving you the freedom to use the land as you choose. Call today and let your vision bring it back to life!

18. 2011-01-03
    listed $458,850
19. 2011-01-03
    listed $315,210

ⓘ 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: $901 · $75/mo
• Projected year-2 tax: $901 · $75/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 96% 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: $18,476
• − Mortgage interest: −$4,173
• − Property taxes: −$901
• − Insurance: −$372
• − Repairs & maintenance: −$1,478
• − Management: −$1,478
• − Depreciation: −$2,167
• Taxable income: $7,906
• Est. tax owed @ 24.0%: −$1,897
• After-tax cash flow: $6,737/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: Henry County
• NCES district ID: 0101740
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 45% ▲ 3.00%
• Median HH income: $41,502
• Composite: 27.78/100
• National rank: #6894
• State rank: #55 of 129 in AL

Livability — Fort Gaines

• Score: 51/100
• State rank: #573
• US rank: #25161

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,224

Population outlook (Henry County) Hauer SSP2

• Today (2025): 17,109 people
• By 2030: 16,928 · -1.1%
• By 2040: 16,376 · -4.3%
• By 2050: 15,778 · -7.8%
• By 2075: 14,491 · -15.3%
• By 2100: 12,673 · -25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 35% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Italian 3% Romanian 1% Slovak 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+50.8) · D 24.3% · R 75.1%
• 2008→2024 swing: -21.1pp toward R · 2008: -29.7pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+43.0 2016: R+41.6 2012: R+29.4 2008: R+29.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.85%
• Current HPI: 241.9035
• 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

-83.8% since first listed

3 events — show timeline

• 2025-11-19 Listed $74,500 EBOR
• 2011-01-03 Listed $315,210 MAAR
• 2011-01-03 Listed $458,850 MAAR

Property tax history

+4.4%/yr

Latest (2025): $901 · +1.4% YoY. Source: county tax records.