94 W Thigpen Ave · Lakeland, GA 31635

$142,500

3 bd · 2.0 ba · 2,404 sqft · SingleFamily public records · 18 Days on market

Built 1951 2.34 ac lot Est $272k · 48% under ↓ 24% since listing

---

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 +17.9/30.0
• ARV discount +15.0/15.0
• Appreciation +7.2/10.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

INVESTORS this is a rare opportunity to own a magnificent home full of vintage character, offering original mid-century details that have stood the test of time. INSTANT EQUITY upon purchase! The spacious 2,400+ square foot layout provides generous room to live and entertain. A true retro gem, the bathroom showcases striking 1950s blue tile walls and mosaic tile flooring, lit beautifully by a glass block window, a hallmark of the time period. The home's layout offers two bedrooms and a full bath on one side, with a third bedroom and second bath tucked away on the other, perfect for privacy or guests. Start your day in the bright enclosed sunroom, just off the dining area. Step outside and y

Key facts

• Landscaped acres
• Enclosed sunroom
• Mosaic tile flooring

Tags

• ORIGINAL MID-CENTURY DETAILS
• 1950S BLUE TILE WALLS
• MOSAIC TILE FLOORING
• ENCLOSED SUNROOM
• LANDSCAPED ACRES
• MATURE TREES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/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 $140k (2.1% below list).
• Recommended offer: $140k (2.1% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 4.7% in Lakeland — 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 60/100 on livability (#379 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: health & safety D, schools D-, amenities F.
• Lanier County (rural): math 33% / reading 38% proficiency, ranked #67 of 174 in GA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 67 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 35 units permitted in Lanier County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($985 loan paydown + $6k appreciation (4.4% local appreciation)).
• At projected returns (4.4% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($140k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,500 (2.1% below list)

Questions for the listing agent

1. Built in 1951 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 0.98% ✗
• Cap rate: 7.30%
• Cash-on-cash: 3.60%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $271,652
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
161 W Main St	0.24mi	3/2.5	2,439 (+2%)	10mo	$278,000	$114	76
152 W Main St	0.19mi	4/2.0 (+1)	2,552 (+6%)	6mo	$288,000	$113	71
105 Peachtree St	0.28mi	3/2.0	2,053 (-15%)	17mo	$30,000	$15	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.90×
• Total profit: $35,823
• Equity at exit: $75,799

10-year hold

• IRR: 15.5%
• Equity multiple: 3.61×
• Total profit: $104,127
• Equity at exit: $126,896

Cash invested: $39,900 (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 31635

• Home prices YoY: 2.2%
• Active inventory: 67
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,395 medium
• Mortgage (P&I): −$747
• Tax from tax record: −$176 /mo · $2,110/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $120

Break-even live

Break-even rent $1,244

Max offer price $142,500

Occupancy floor 86%

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: $35,625
• Closing costs: $4,275
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 W Howell Dr Lakeland, GA	3.0	2.0	1605	$1,395	$0.87	21d	1	0.27mi

Listing history 21 events

1. 2026-06-09
   status $142,500 Under Contract 18 DOM
2. 2026-06-08
   days on market $142,500 Active 18 DOM
3. 2026-06-07
   days on market $142,500 Active 17 DOM
4. 2026-06-05
   statusdays on market $142,500 Active 14 DOM
5. 2026-06-03
   days on market $142,500 New 13 DOM
6. 2026-06-02
   days on market $142,500 New 12 DOM
7. 2026-06-01
   days on market $142,500 New 11 DOM
8. 2026-05-31
   days on market $142,500 New 10 DOM
9. 2026-05-30
   days on market $142,500 New 9 DOM
10. 2026-05-15
    price $169,900
11. 2026-03-17
    price $179,900
12. 2026-01-21
    price $185,000
13. 2025-11-09
    historical
14. 2025-10-13
    price $199,900
15. 2025-10-13
    price $199,900
16. 2025-08-28
    price $215,000
17. 2025-08-28
    price $215,000
18. 2025-06-26
    price $225,000
19. 2025-06-13
    price $249,000
20. 2025-05-30
    price $259,000
21. 2025-05-10
    listed $225,000 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: $2,110 · $176/mo
• Projected year-2 tax: $2,110 · $176/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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 7/10 Severe 16 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,740
• − Mortgage interest: −$7,982
• − Property taxes: −$2,110
• − Insurance: −$712
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − Depreciation: −$4,145
• Taxable loss: −$888
• Est. tax savings @ 24.0%: +$213
• After-tax cash flow: $1,648/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: Lanier County
• NCES district ID: 1303240
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $38,019
• Composite: 29.6/100
• National rank: #6476
• State rank: #67 of 174 in GA

Livability — Lakeland

• Score: 60/100
• State rank: #379
• US rank: #19151

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeland, GA
• Population (ZIP): 6,978

Population outlook (Lanier County) Hauer SSP2

• Today (2025): 10,743 people
• By 2030: 10,892 · +1.4%
• By 2040: 10,975 · +2.2%
• By 2050: 10,764 · +0.2%
• By 2075: 9,418 · -12.3%
• By 2100: 7,419 · -30.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 29% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Iranian 2% Italian 1% Romanian 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1% Korean 1%

Political lean MEDSL · Lanier

• 2024 margin: Solid R (+46.3) · D 26.6% · R 73.0%
• 2008→2024 swing: -21.1pp toward R · 2008: -25.2pp · 2024: -46.3pp
• All cycles: 2024: R+46.3 2020: R+41.7 2016: R+41.2 2012: R+23.8 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.42%
• Current HPI: 201.1664
• 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

-24.5% since first listed

12 events — show timeline

• 2026-05-15 Price Changed $169,900 SGMLS
• 2026-03-17 Price Changed $179,900 SGMLS
• 2026-01-21 Price Changed $185,000 SGMLS
• 2025-11-09 Listing Removed — GAMLS
• 2025-10-13 Price Changed $199,900 SGMLS
• 2025-10-13 Price Changed $199,900 GAMLS
• 2025-08-28 Price Changed $215,000 SGMLS
• 2025-08-28 Price Changed $215,000 GAMLS
• 2025-06-26 Price Changed $225,000 SGMLS
• 2025-06-13 Price Changed $249,000 SGMLS
• 2025-05-30 Price Changed $259,000 SGMLS
• 2025-05-10 Listed $225,000 GAMLS

Property tax history

+0.7%/yr

Latest (2025): $2,110 · -0.1% YoY. Source: county tax records.