408 Truman St · LaFayette, GA 30728

$104,900

2 bd · 1.0 ba · 984 sqft · SingleFamily public records · 3 Days on market

Built 1952 0.37 ac lot Est $191k · 45% under

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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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remodeled and ready to move right in!! This cozy home has all the boxes checked for a first home or a home to downsize in! New roof, new HVAC unit, newly remodeled bathroom, fresh paint and original hardwood floors round out the amazing features this home offers to it's new owners. A house is not a home without YOU! The extra large lot provides room for the kids or the animals to play. Plant a garden and share with the neighbors. Conveniently located to town, schools and Roper. This is not a flip. .it was lovingly cared for. Eligible for USDA 100% financing. Don't wait. .call to see it in person.

Key facts

• Covered front porch
• Hardwood flooring
• Large backyard

Tags

• LARGE LEVEL LOT
• COVERED FRONT PORCH
• SPACIOUS LAUNDRY ROOM
• HARDWOOD FLOORING
• LARGE BACKYARD
• MATURE TREES

Property features AI

Exterior

• Parking: Has a 1-space carport; Gravel parking at kitchen level
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected; Sewer connected
• Home design: Single-family residence; One story
• Construction: Block, brick, and stucco construction; Block foundation; Shingle roof; Built above grade (984 finished area)
• Exterior features: Front covered porch; Porch

Interior

• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Flooring: Hardwood flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central electric air conditioning
• Interior features: Aluminum window frames; Crawl space basement
• Laundry & utility: Laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 10.0% vs local median 4.1% in LaFayette — 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 61/100 on livability (#345 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, amenities F, commute F.
• Walker County (rural): math 25% / reading 29% proficiency, ranked #114 of 174 in GA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: North Lafayette Elementary School (math 22% / reading 17%, grade F, #878 of 1,228 statewide, top 75%, 432 students, 68% FRL); Lafayette Middle School (math 23% / reading 27%, grade F, #291 of 470 statewide, top 64%, 575 students, 77% FRL); Lafayette High School (math 5% / reading 15%, grade F, #353 of 424 statewide, top 86%, 1,164 students, 62% FRL).
• Market conditions: 218 active listings in the ZIP; 347 units permitted in Walker County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Walker County population projected at -16% 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 $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $74k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,900

Questions for the listing agent

1. Built in 1952 — 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 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?
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. 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: 1.19% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.38%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $190,896
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 Hall St	0.28mi	2/1.0	868 (-12%)	10mo	$170,000	$196	59
603 Daugherty St	0.70mi	2/1.0	1,006 (+2%)	14mo	$143,000	$142	52
409 Daugherty St	0.74mi	2/1.0	1,012 (+3%)	13mo	$30,000	$30	50
404 Hall St	0.32mi	2/1.0	840 (-15%)	16mo	$152,000	$181	48
239 Thurman St	0.73mi	3/1.0 (+1)	1,064 (+8%)	1mo	$206,000	$194	47
909 Thurman St	0.74mi	3/2.0 (+1)	1,100 (+12%)	20mo	$229,900	$209	20

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: 3.4%
• Equity multiple: 1.13×
• Total profit: $3,845
• Equity at exit: $15,641

10-year hold

• IRR: 12.9%
• Equity multiple: 2.03×
• Total profit: $30,125
• Equity at exit: $9,070

Cash invested: $29,372 (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 30728

• Home prices YoY: -14.2%
• Active inventory: 218
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,247 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$64 /mo · $765/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $328

Break-even live

Break-even rent $832

Max offer price $104,900

Occupancy floor 69%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   days on market $104,900 Active 3 DOM
2. 2026-06-17
   days on market $104,900 Active 2 DOM
3. 2026-06-15
   remarks 699-char remark
4. 2026-06-15
   listed $104,900 Active 1 DOM

ⓘ 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: $765 · $64/mo
• Projected year-2 tax: $965 · $80/mo
• Expected delta: +$200/yr (+$17/mo · 26.1%)

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,965
• − Mortgage interest: −$5,876
• − Property taxes: −$765
• − Insurance: −$524
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$3,052
• Taxable income: $2,353
• Est. tax owed @ 24.0%: −$565
• After-tax cash flow: $3,367/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: Walker County
• NCES district ID: 1305370
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $39,889
• Composite: 22.74/100
• National rank: #8035
• State rank: #114 of 174 in GA

Livability — LaFayette

• Score: 61/100
• State rank: #345
• US rank: #17893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: LaFayette, GA
• County: Walker County · 48,831 people
• City population: 18,790
• Metro: Chattanooga, TN-GA
• Population (ZIP): 18,790
• Household income: $55,455
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 233.0

Population outlook (Walker County) Hauer SSP2

• Today (2025): 66,050 people
• By 2030: 64,305 · -2.6%
• By 2040: 60,127 · -9.0%
• By 2050: 55,551 · -15.9%
• By 2075: 44,886 · -32.0%
• By 2100: 34,015 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 2%
• Foreign-born: 2% · South Korea
• Languages at home: 97% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Walker

• 2024 margin: Solid R (+59.3) · D 20.1% · R 79.4%
• 2008→2024 swing: -12.5pp toward R · 2008: -46.8pp · 2024: -59.3pp
• All cycles: 2024: R+59.3 2020: R+59.3 2016: R+61.5 2012: R+50.2 2008: R+46.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.02%
• Current HPI: 271.2944
• Rent YoY: —
• Metro: Chattanooga, TN-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

+70.6% since first listed

5 events — show timeline

• 2026-06-15 Listed $104,900 GCAR
• 2018-11-19 Sold (Public Records) $73,500 Public Records
• 2018-11-09 Sold (MLS) $73,500 REALTRACS as Distributed by MLS Grid
• 2018-11-09 Sold (MLS) $73,500 GCAR
• 2017-03-17 Sold (Public Records) $61,500 Public Records

Property tax history

+5.4%/yr

Latest (2025): $765 · +0.0% YoY. Source: county tax records.