608 Grady St · Thomasville, GA 31792

$144,500

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 375 Days on market

Built 1987 0.25 ac lot $158/sqft · 41% above area Est $102k · 41% over ↓ 3% since listing

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Why this score? — see what drove the D+ 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 +24.4/30.0
• DSCR +7.9/10.0
• 1% rule +6.3/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful home on Grady St. in Thomasville! Attractive flooring throughout. Great cabinetry in kitchen. Nice living room/dining combo. 3BR/1Bath on . 25 acre lot. Call your favorite Realtor TODAY for a closer look at this wonderful home.

Key facts

• 0.25 acre lot
• Built 1987
• Listed 374 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $144k).
• Recommended offer: $127k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.7% in Thomasville — 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 71/100 on livability (#77 in GA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: schools D, crime F, commute F.
• Thomasville City (town): math 29% / reading 37% proficiency, ranked #87 of 174 in GA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 203 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 213 units permitted in Thomas County in 2024 (72 in 5+ unit buildings).
• This rent runs 39% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $999 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Thomas County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 375 days — a 12% lower offer ($127k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $127,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 375 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 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.13% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.69%
• DSCR: 1.39
• GRM: 7.4

CMA / ARV

• ARV (median comp): $102,441
• List price: $144,500
• Delta: 41.06%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 Park Ave	0.16mi	2/1.0 (-1)	928 (+2%)	6mo	$126,000	$136	80
212 Lucy St	0.13mi	2/1.0 (-1)	1,028 (+13%)	4mo	$43,000	$42	65
511 Grady St	0.09mi	2/1.0 (-1)	830 (-9%)	23mo	$36,500	$44	57
212 Reid St	0.60mi	2/1.0 (-1)	852 (-7%)	11mo	$32,500	$38	47
408 Metcalf Ave	0.35mi	2/1.0 (-1)	778 (-15%)	17mo	$105,000	$135	40

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-4,735
• Equity at exit: $21,545

10-year hold

• IRR: 6.6%
• Equity multiple: 1.49×
• Total profit: $19,999
• Equity at exit: $12,494

Cash invested: $40,460 (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 31792

• Home prices YoY: -29.0%
• Active inventory: 203
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,635 medium
• Mortgage (P&I): −$758
• Tax est. 1.5%: −$181 /mo · $2,168/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $293

Break-even live

Break-even rent $1,264

Max offer price $144,500

Occupancy floor 77%

Sensitivity live

Price	-10% $393	-5% $343	+0% $293	+5% $243	+10% $193
Rent	-10% $164	-5% $228	+0% $293	+5% $357	+10% $422
Rate	-1.0pp $366	-0.5pp $330	base $293	+0.5pp $255	+1.0pp $217

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: $36,125
• Closing costs: $4,335
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
403 Remington Ave Thomasville, GA	2.0	1.0	891	$1,575	$1.77	44d	1	0.84mi
220 Covington Ave Thomasville, GA	1.0–3.0	1.0–2.0	1014	$1,350	$1.33	44d	10	0.92mi
124 Ginny Ln Thomasville, GA	2.0–3.0	2.0	854	$1,300	$1.52	44d	2	1.24mi
1720 S Pinetree Blvd Thomasville, GA	3.0	2.0	924	$1,150	$1.24	22d	1	1.40mi

Listing history 19 events

1. 2026-06-19
   days on market $144,500 Active 375 DOM
2. 2026-06-18
   days on market $144,500 Active 374 DOM
3. 2026-06-17
   days on market $144,500 Active 373 DOM
4. 2026-06-16
   days on market $144,500 Active 372 DOM
5. 2026-06-15
   days on market $144,500 Active 371 DOM
6. 2026-06-14
   days on market $144,500 Active 369 DOM
7. 2026-06-12
   days on market $144,500 Active 368 DOM
8. 2026-06-09
   days on market $144,500 Active 365 DOM
9. 2026-06-08
   days on market $144,500 Active 364 DOM
10. 2026-06-07
    days on market $144,500 Active 363 DOM
11. 2026-06-07
    days on market $144,500 Active 362 DOM
12. 2026-06-03
    days on market $144,500 Active 359 DOM
13. 2026-06-03
    price $144,500 Active 358 DOM
14. 2026-06-02
    days on market $164,900 Active 358 DOM
15. 2026-06-01
    days on market $164,900 Active 357 DOM
16. 2026-05-31
    days on market $164,900 Active 356 DOM
17. 2026-05-31
    days on market $164,900 Active 355 DOM
18. 2025-08-05
    price $164,900 237-char remark

    Show marketing remark (237 chars)

    Wonderful home on Grady St. in Thomasville! Attractive flooring throughout. Great cabinetry in kitchen. Nice living room/dining combo. 3BR/1Bath on . 25 acre lot. Call your favorite Realtor TODAY for a closer look at this wonderful home.

19. 2025-06-09
    listed $169,900 Active 237-char remark

    Show marketing remark (237 chars)

    Wonderful home on Grady St. in Thomasville! Attractive flooring throughout. Great cabinetry in kitchen. Nice living room/dining combo. 3BR/1Bath on . 25 acre lot. Call your favorite Realtor TODAY for a closer look at this wonderful home.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,618
• − Mortgage interest: −$8,094
• − Property taxes: −$2,168
• − Insurance: −$722
• − Repairs & maintenance: −$1,569
• − Management: −$1,569
• − Depreciation: −$4,204
• Taxable income: $1,291
• Est. tax owed @ 24.0%: −$310
• After-tax cash flow: $3,205/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: Thomasville City
• NCES district ID: 1304950
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 37% ▼ -8.00%
• Median HH income: $31,040
• Composite: 26.85/100
• National rank: #7106
• State rank: #87 of 174 in GA

Livability — Thomasville

• Score: 71/100
• State rank: #77
• US rank: #6678

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomasville, GA
• County: Thomas County · 22,962 people
• City population: 22,962
• Metro: Thomasville, GA
• Population (ZIP): 22,962
• Household income: $50,460
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 1059.0

Population outlook (Thomas County) Hauer SSP2

• Today (2025): 45,303 people
• By 2030: 45,052 · -0.6%
• By 2040: 44,034 · -2.8%
• By 2050: 42,310 · -6.6%
• By 2075: 37,569 · -17.1%
• By 2100: 30,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: Black 49% White 47% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Thomas

• 2024 margin: Strong R (+24.1) · D 37.8% · R 61.9%
• 2008→2024 swing: -8.3pp toward R · 2008: -15.8pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+19.5 2016: R+21.8 2012: R+18.5 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.17%
• Current HPI: 228.0107
• Rent YoY: —
• Metro: Thomasville, 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

-2.9% since first listed

2 events — show timeline

• 2025-08-05 Price Changed $164,900 TABRMLS
• 2025-06-09 Listed $169,900 TABRMLS

Property tax history

+2.8%/yr

Latest (2025): $284 · +3.3% YoY. Source: county tax records.