4904 Highway 81 E · McDonough, GA 30252

$199,900

2 bd · 1.0 ba · 950 sqft · SingleFamily public records · 170 Days on market

Built 1969 2.00 ac lot Est $224k · 11% under

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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 +12.7/30.0
• ARV discount +12.4/15.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cute all-brick cottage is nestled in on TWO ACRES is waiting for its next owner!! No Home Owners Association and is not in a subdivision. Rock Spring Elementary and Ola Schools. New roof, new windows, paint and granite counter tops in the kitchen. Real hardwoods throughout except for the kitchen and dining room. Cash and Conventional only. Move In Ready and cheaper than rent.

Key facts

• 2 acre shaded lot
• 2 acre lot
• Built 1969

Tags

• 2 ACRE SHADED LOT
• ORIGINAL HARDWOOD FLOORS
• FINISHED LIVING SPACE
• TWO CAR METAL CARPORT
• PRIME MCDONOUGH LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-22 ($-265/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (14.4% below list).
• Recommended offer: $171k (14.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.9% in McDonough — 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 63/100 on livability (#279 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime D, amenities F, commute F.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Rock Spring Elementary (math 30% / reading 35%, grade F, #575 of 1,228 statewide, top 47%, 692 students, 40% FRL); Ola Middle School (math 35% / reading 46%, grade F, #140 of 470 statewide, top 30%, 1,163 students, 32% FRL); Ola High School (math 22% / reading 34%, grade F, #151 of 424 statewide, top 36%, 1,764 students, 26% FRL).
• Market conditions: Rents rising (+1.5%/yr); 581 active listings in the ZIP; solid renter incomes; 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Henry County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $39k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,208 (14.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.86% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.47%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $224,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4601 Highway 81 E	0.48mi	3/1.0 (+1)	1,014 (+7%)	14mo	$239,000	$236	49

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 · 1.52% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.35×
• Total profit: $-36,288
• Equity at exit: $29,806

10-year hold

• IRR: -14.4%
• Equity multiple: 0.23×
• Total profit: $-43,327
• Equity at exit: $17,284

Cash invested: $55,972 (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 30252

• Home prices YoY: -31.4%
• Rents YoY: 1.5%
• Active inventory: 581
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,712 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$243 /mo · $2,916/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $-22

Break-even live

Break-even rent $1,740

Max offer price $196,005

Occupancy floor 96%

Sensitivity live

Price	-10% $91	-5% $35	+0% $-22	+5% $-79	+10% $-135
Rent	-10% $-157	-5% $-90	+0% $-22	+5% $46	+10% $113
Rate	-1.0pp $79	-0.5pp $29	base $-22	+0.5pp $-74	+1.0pp $-127

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-07
   statusdays on market $199,900 Under Contract 170 DOM
2. 2026-06-04
   days on market $199,900 Active 169 DOM
3. 2026-06-03
   days on market $199,900 Active 168 DOM
4. 2026-06-02
   days on market $199,900 Active 167 DOM
5. 2026-06-01
   days on market $199,900 Active 166 DOM
6. 2026-05-31
   statusdays on market $199,900 Active 165 DOM
7. 2026-03-05
   status Under Contract
8. 2026-02-20
   price $199,900
9. 2025-10-28
   price $225,000
10. 2025-09-23
    listed $239,000 New
11. 2023-09-05
    soldstatus $230,000
12. 2023-09-01
    soldstatus $230,000 Closed 384-char remark

    Show marketing remark (366 chars)

    This cute all-brick cottage is nestled in on TWO ACRES is waiting for its next owner to give it some love! No Home Owners Association and is not in a subdivision. Rock Spring Elementary and Ola Schools. New roof, new windows, paint and granite counter tops in the kitchen. Real hardwoods throughout except for the kitchen and dining room. Cash and Conventional only.

13. 2023-09-01
    soldstatus $230,000 Sold 366-char remark

    Show marketing remark (366 chars)

    This cute all-brick cottage is nestled in on TWO ACRES is waiting for its next owner to give it some love! No Home Owners Association and is not in a subdivision. Rock Spring Elementary and Ola Schools. New roof, new windows, paint and granite counter tops in the kitchen. Real hardwoods throughout except for the kitchen and dining room. Cash and Conventional only.

14. 2023-08-21
    status Under Contract 366-char remark

    Show marketing remark (384 chars)

    This cute all-brick cottage is nestled in on TWO ACRES is waiting for its next owner!! No Home Owners Association and is not in a subdivision. Rock Spring Elementary and Ola Schools. New roof, new windows, paint and granite counter tops in the kitchen. Real hardwoods throughout except for the kitchen and dining room. Cash and Conventional only. Move In Ready and cheaper than rent.

15. 2023-08-21
    status Pending 384-char remark

    Show marketing remark (384 chars)

    This cute all-brick cottage is nestled in on TWO ACRES is waiting for its next owner!! No Home Owners Association and is not in a subdivision. Rock Spring Elementary and Ola Schools. New roof, new windows, paint and granite counter tops in the kitchen. Real hardwoods throughout except for the kitchen and dining room. Cash and Conventional only. Move In Ready and cheaper than rent.

16. 2023-08-17
    listed $230,000 Active 384-char remark

    Show marketing remark (384 chars)

    This cute all-brick cottage is nestled in on TWO ACRES is waiting for its next owner!! No Home Owners Association and is not in a subdivision. Rock Spring Elementary and Ola Schools. New roof, new windows, paint and granite counter tops in the kitchen. Real hardwoods throughout except for the kitchen and dining room. Cash and Conventional only. Move In Ready and cheaper than rent.

17. 2023-07-12
    listed $230,000 New 366-char remark

    Show marketing remark (366 chars)

    This cute all-brick cottage is nestled in on TWO ACRES is waiting for its next owner to give it some love! No Home Owners Association and is not in a subdivision. Rock Spring Elementary and Ola Schools. New roof, new windows, paint and granite counter tops in the kitchen. Real hardwoods throughout except for the kitchen and dining room. Cash and Conventional only.

18. 2013-01-24
    price $30,000
19. 2012-10-30
    soldstatus $30,000 Sold
20. 2012-08-10
    historical
21. 2012-08-10
    price $31,000
22. 2012-07-20
    historical Pending Approval
23. 2012-07-09
    listed $31,000 New
24. 2003-12-23
    soldstatus $91,000

ⓘ 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: $2,916 · $243/mo
• Projected year-2 tax: $2,916 · $243/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 6/10 Major 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,545
• − Mortgage interest: −$11,198
• − Property taxes: −$2,916
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,644
• − Management: −$1,644
• − Depreciation: −$5,815
• Taxable loss: −$3,671
• Est. tax savings @ 24.0%: +$881
• After-tax cash flow: $616/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: 1302820
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $62,594
• Composite: 26.13/100
• National rank: #7279
• State rank: #89 of 174 in GA

Livability — McDonough

• Score: 63/100
• State rank: #279
• US rank: #14962

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henry County · 316,359 people
• City population: 114,333
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 49,554
• Household income: $100,770
• Rent vs Own: 10.5% rent · 89.5% own
• Severe rent burden: 343.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 249,041 people
• By 2030: 264,369 · +6.2%
• By 2040: 294,459 · +18.2%
• By 2050: 322,249 · +29.4%
• By 2075: 392,310 · +57.5%
• By 2100: 437,836 · +75.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 48% Black 36% Two or more races 11% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 2% Slovak 1% Italian 1%
• Foreign-born: 7% · Canada, Vietnam, South Korea
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 2% Vietnamese 1%

Political lean MEDSL · Henry

• 2024 margin: Strong D (+29.7) · D 64.5% · R 34.9%
• 2008→2024 swing: +37.1pp toward D · 2008: -7.5pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+20.5 2016: D+4.3 2012: R+3.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.97%
• Current HPI: 207.2801
• Rent YoY: ▲ 1.52%
• Metro: Atlanta-Sandy Springs-Alpharetta, 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

+119.7% since first listed

18 events — show timeline

• 2026-03-05 Pending — GAMLS
• 2026-02-20 Price Changed $199,900 GAMLS
• 2025-10-28 Price Changed $225,000 GAMLS
• 2025-09-23 Listed $239,000 GAMLS
• 2023-09-05 Sold (Public Records) $230,000 Public Records
• 2023-09-01 Sold (MLS) $230,000 GAMLS
• 2023-09-01 Sold (MLS) $230,000 FMLS
• 2023-08-21 Pending — GAMLS
• 2023-08-21 Pending — FMLS
• 2023-08-17 Listed $230,000 FMLS
• 2023-07-12 Listed $230,000 GAMLS
• 2013-01-24 Price Changed $30,000 GAMLS
• 2012-10-30 Sold (MLS) $30,000 GAMLS
• 2012-08-10 Price Changed $31,000 GAMLS
• 2012-08-10 Listing Removed — GAMLS
• 2012-07-20 Contingent — GAMLS
• 2012-07-09 Listed $31,000 GAMLS
• 2003-12-23 Sold (Public Records) $91,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $2,916 · -7.9% YoY. Source: county tax records.