205 Elm St · Washington, GA 30673

$35,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 117 Days on market

Built 1940 7,840 sqft lot $42/sqft · 64% below area ↓ 12% since listing

---

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
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.8/10.0

Listing remarks MLS

Investor Special in the Heart of Washington, GA! Calling all investors, renovators, and visionaries—this 2 bedroom, 1 bath home is packed with potential and ready for a complete transformation. Located in the heart of Washington, GA, this property offers a prime in-town location with convenient access to shopping, dining, and local amenities. The home is in need of extensive repairs and significant TLC, making it an ideal fix-and-flip, rental investment, or renovation project for experienced buyers. With the right improvements, this property could be brought back to life and repositioned as a charming residence or income-producing asset. ✔ Prime in-town location ✔ Strong value-add opportunity ✔ Ideal for investors or rehab specialists ✔ Endless potential for the right buyer Property is being sold AS-IS. Cash or renovation financing recommended. Bring your tools, your vision, and your plans—opportunities like this don't come along often in downtown Washington!

Key facts

• 7,840 sq ft lot
• Built 1940
• Listed 117 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($858 rent vs $35k).
• Recommended offer: $32k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.6% vs local median 2.6% in Washington — 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 62/100 on livability (#296 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+; Watch: schools F, amenities F, commute F.
• Wilkes County (rural): math 23% / reading 25% proficiency, ranked #135 of 174 in GA (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 69 active listings in the ZIP; 27 units permitted in Wilkes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Wilkes County population projected at -29% 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 $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $5k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $31,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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: 2.45% ✓
• Cap rate: 21.59%
• Cash-on-cash: 54.63%
• DSCR: 3.43
• GRM: 3.4

CMA / ARV

• ARV (median comp): $95,902
• List price: $35,000
• Delta: -63.50%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 52.8%
• Equity multiple: 3.32×
• Total profit: $22,752
• Equity at exit: $5,219

10-year hold

• IRR: 58.1%
• Equity multiple: 6.76×
• Total profit: $56,431
• Equity at exit: $3,026

Cash invested: $9,800 (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 30673

• Home prices YoY: -3.3%
• Active inventory: 69
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $858 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$34 /mo · $405/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $446

Break-even live

Break-even rent $293

Max offer price $35,000

Occupancy floor 43%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-16
   remarks 699-char remark
2. 2026-06-16
   statusdays on marketlisting id $35,000 Under Contract 117 DOM
3. 2026-05-12
   price $35,000 994-char remark

   Show marketing remark (994 chars)

   Investor Special in the Heart of Washington, GA! Calling all investors, renovators, and visionaries—this 2 bedroom, 1 bath home is packed with potential and ready for a complete transformation. Located in the heart of Washington, GA, this property offers a prime in-town location with convenient access to shopping, dining, and local amenities. The home is in need of extensive repairs and significant TLC, making it an ideal fix-and-flip, rental investment, or renovation project for experienced buyers. With the right improvements, this property could be brought back to life and repositioned as a charming residence or income-producing asset. ✔ Prime in-town location ✔ Strong value-add opportunity ✔ Ideal for investors or rehab specialists ✔ Endless potential for the right buyer Property is being sold AS-IS. Cash or renovation financing recommended. Bring your tools, your vision, and your plans—opportunities like this don't come along often in downtown Washington!

4. 2026-05-11
   historical
5. 2026-05-08
   price $35,000
6. 2026-04-14
   status Back On Market
7. 2026-04-11
   status Under Contract
8. 2026-01-20
   listed $39,900 Active

   Show marketing remark (994 chars)

   Investor Special in the Heart of Washington, GA! Calling all investors, renovators, and visionaries—this 2 bedroom, 1 bath home is packed with potential and ready for a complete transformation. Located in the heart of Washington, GA, this property offers a prime in-town location with convenient access to shopping, dining, and local amenities. The home is in need of extensive repairs and significant TLC, making it an ideal fix-and-flip, rental investment, or renovation project for experienced buyers. With the right improvements, this property could be brought back to life and repositioned as a charming residence or income-producing asset. ✔ Prime in-town location ✔ Strong value-add opportunity ✔ Ideal for investors or rehab specialists ✔ Endless potential for the right buyer Property is being sold AS-IS. Cash or renovation financing recommended. Bring your tools, your vision, and your plans—opportunities like this don't come along often in downtown Washington!

9. 2026-01-20
   listed $39,900 Active 994-char remark

   Show marketing remark (994 chars)

   Investor Special in the Heart of Washington, GA! Calling all investors, renovators, and visionaries—this 2 bedroom, 1 bath home is packed with potential and ready for a complete transformation. Located in the heart of Washington, GA, this property offers a prime in-town location with convenient access to shopping, dining, and local amenities. The home is in need of extensive repairs and significant TLC, making it an ideal fix-and-flip, rental investment, or renovation project for experienced buyers. With the right improvements, this property could be brought back to life and repositioned as a charming residence or income-producing asset. ✔ Prime in-town location ✔ Strong value-add opportunity ✔ Ideal for investors or rehab specialists ✔ Endless potential for the right buyer Property is being sold AS-IS. Cash or renovation financing recommended. Bring your tools, your vision, and your plans—opportunities like this don't come along often in downtown Washington!

10. 2026-01-20
    listed $39,900 New

    Show marketing remark (994 chars)

    Investor Special in the Heart of Washington, GA! Calling all investors, renovators, and visionaries—this 2 bedroom, 1 bath home is packed with potential and ready for a complete transformation. Located in the heart of Washington, GA, this property offers a prime in-town location with convenient access to shopping, dining, and local amenities. The home is in need of extensive repairs and significant TLC, making it an ideal fix-and-flip, rental investment, or renovation project for experienced buyers. With the right improvements, this property could be brought back to life and repositioned as a charming residence or income-producing asset. ✔ Prime in-town location ✔ Strong value-add opportunity ✔ Ideal for investors or rehab specialists ✔ Endless potential for the right buyer Property is being sold AS-IS. Cash or renovation financing recommended. Bring your tools, your vision, and your plans—opportunities like this don't come along often in downtown Washington!

11. 2025-10-02
    soldstatus $26,000 Sold
12. 2025-06-10
    status Under Contract
13. 2025-06-02
    price $25,000
14. 2025-06-02
    price $26,000
15. 2025-06-02
    listed $40,000 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: $405 · $34/mo
• Projected year-2 tax: $405 · $34/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,299
• − Mortgage interest: −$1,961
• − Property taxes: −$405
• − Insurance: −$175
• − Repairs & maintenance: −$824
• − Management: −$824
• − Depreciation: −$1,018
• Taxable income: $5,093
• Est. tax owed @ 24.0%: −$1,222
• After-tax cash flow: $4,132/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: Wilkes County
• NCES district ID: 1305760
• Math proficiency: 23% ▼ -15.00%
• Reading proficiency: 25% ▼ -14.00%
• Median HH income: $31,587
• Composite: 19.47/100
• National rank: #8773
• State rank: #135 of 174 in GA

Livability — Washington

• Score: 62/100
• State rank: #296
• US rank: #16176

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, GA
• City population: 6,185
• Population (ZIP): 6,185

Population outlook (Wilkes County) Hauer SSP2

• Today (2025): 8,732 people
• By 2030: 8,111 · -7.1%
• By 2040: 7,034 · -19.4%
• By 2050: 6,189 · -29.1%
• By 2075: 5,084 · -41.8%
• By 2100: 4,599 · -47.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 51% Black 40% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Wilkes

• 2024 margin: R (+16.9) · D 41.4% · R 58.3%
• 2008→2024 swing: -9.1pp toward R · 2008: -7.7pp · 2024: -16.9pp
• All cycles: 2024: R+16.9 2020: R+13.2 2016: R+16.2 2012: R+11.5 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.34%
• Current HPI: 246.1005
• 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

-12.5% since first listed

13 events — show timeline

• 2026-05-12 Price Changed $35,000 Hive MLS
• 2026-05-11 Listing Removed — Hive MLS
• 2026-05-08 Price Changed $35,000 GAMLS
• 2026-04-14 Relisted — GAMLS
• 2026-04-11 Pending — GAMLS
• 2026-01-20 Listed $39,900 Hive MLS
• 2026-01-20 Listed $39,900 GAMLS
• 2026-01-20 Listed $39,900 Hive MLS
• 2025-10-02 Sold (MLS) $26,000 GAMLS
• 2025-06-10 Pending — GAMLS
• 2025-06-02 Price Changed $25,000 GAMLS
• 2025-06-02 Price Changed $26,000 GAMLS
• 2025-06-02 Listed $40,000 GAMLS

Property tax history

+7.3%/yr

Latest (2025): $405 · +40.1% YoY. Source: county tax records.