3428 Ray Owens Rd · Appling, GA 30802

$459,900

3 bd · 3.0 ba · 1,755 sqft · Other public records · 36 Days on market

Built 1974 4.12 ac lot $262/sqft · at area comps Est $548k · 16% 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).

• ARV discount +14.7/15.0
• Appreciation +10.0/10.0
• Schools +4.5/10.0
• Cash flow +3.5/30.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

Completely Remodeled Brick Home on 4 Private Acres with Metal Roof & Unfinished Basement Flex Space. Welcome to this beautifully renovated brick home offering 2,050 heated and finished square feet of stylish living space, perfectly situated on 4 private acres. Enjoy peaceful mornings on the 24x10 covered front porch featuring a stunning tongue-and-groove pine ceiling, and unwind in the evenings on the 12x16 covered rear deck overlooking a large, private backyard with freshly cleared land and new grass planted. Inside, this home has been completely remodeled with knotty pine wood flooring throughout, complemented by tile bathrooms and a modern, cohesive design. The kitchen and baths fe

Key facts

• Private acres
• Covered front porch
• Private backyard

Tags

• REMODELED BRICK HOME
• PRIVATE ACRES
• COVERED FRONT PORCH
• TONGUE-AND-GROOVE PINE CEILING
• COVERED REAR DECK
• PRIVATE BACKYARD

Property features AI

Finance

• Other: Property listed by REALTORS® of Greater Augusta

Exterior

• Parking: Garage with 2 parking spaces
• Utilities: Well water; Septic tank
• Home design: Single-family residence; Residential property
• Construction: Fiber cement exterior; Other foundation
• Exterior features: Composition roof; Approximately 4.12-acre lot

Interior

• Kitchen: Range, Dishwasher, Microwave
• Bedrooms: 7 total rooms (bedroom count not specified)
• Flooring: Concrete; Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Electric heating; Fireplace(s)
• Interior features: Range, Dishwasher, Microwave; Concrete, Ceramic tile, Hardwood flooring; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $460k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (53.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (59.6% below list).
• Recommended offer: $186k (59.6% below list) — sets the bar for 1% rule.
• Cap rate 2.7% vs local median 1.1% in Appling — 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 57/100 on livability (#457 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A; Watch: housing D+, amenities F, commute F.
• Columbia County (suburban): math 49% / reading 52% proficiency, ranked #13 of 174 in GA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Columbia Elementary School (math 67% / reading 67%, grade B+, #79 of 1,228 statewide, top 7%, 459 students, 22% FRL); Harlem Middle School (math 36% / reading 42%, grade F, #155 of 470 statewide, top 33%, 981 students, 39% FRL); Harlem High School (math 8% / reading 22%, grade F, #297 of 424 statewide, top 74%, 1,223 students, 33% FRL).
• Market conditions: 154 active listings in the ZIP; 1,213 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $49k of equity ($3k loan paydown + $46k appreciation (10.0% local appreciation)).
• Columbia County population projected at +62% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$79k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($446k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $30k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $460k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 57% 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 $185,966 (59.6% 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 36 days. Have you received any prior offers? Is the seller open to a 60% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.40% ✗
• Cap rate: 2.67%
• Cash-on-cash: -12.95%
• DSCR: 0.42
• GRM: 20.6

CMA / ARV

• ARV (median comp): $547,958
• List price: $459,900
• Delta: -16.07%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 2.26×
• Total profit: $161,797
• Equity at exit: $414,314

10-year hold

• IRR: 14.9%
• Equity multiple: 5.24×
• Total profit: $545,733
• Equity at exit: $893,485

Cash invested: $128,772 (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 30802

• Home prices YoY: 4.8%
• Active inventory: 154
• Price-to-rent: 20.6×

Monthly cashflow live

• Estimated rent: $1,860 medium
• Mortgage (P&I): −$2,412
• Tax from tax record: −$255 /mo · $3,065/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $-1,390

Break-even live

Break-even rent $3,619

Max offer price $214,409

Occupancy floor —

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: $114,975
• Closing costs: $13,797
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $459,900 Active 36 DOM
2. 2026-06-17
   days on market $459,900 Active 35 DOM
3. 2026-06-16
   days on market $459,900 Active 34 DOM
4. 2026-06-15
   days on market $459,900 Active 33 DOM
5. 2026-06-14
   days on market $459,900 Active 31 DOM
6. 2026-06-13
   days on market $459,900 Active 30 DOM
7. 2026-06-10
   days on market $459,900 Active 28 DOM
8. 2026-06-09
   days on market $459,900 Active 27 DOM
9. 2026-06-08
   days on market $459,900 Active 26 DOM
10. 2026-06-07
    days on market $459,900 Active 25 DOM
11. 2026-06-03
    days on market $459,900 Active 21 DOM
12. 2026-06-02
    days on market $459,900 Active 20 DOM
13. 2026-06-01
    days on market $459,900 Active 19 DOM
14. 2026-05-31
    days on market $459,900 Active 18 DOM
15. 2026-05-11
    historical
16. 2026-04-12
    price $459,900
17. 2026-01-13
    price $469,900
18. 2025-12-24
    listed $489,900 Active
19. 2025-12-24
    listed $459,900 Active 1149-char remark
20. 2025-04-21
    soldstatus $150,000

ⓘ 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: $3,065 · $255/mo
• Projected year-2 tax: $4,231 · $353/mo
• Expected delta: +$1,166/yr (+$97/mo · 38.0%)

ⓘ 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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% 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: $22,316
• − Mortgage interest: −$25,762
• − Property taxes: −$3,065
• − Insurance: −$2,300
• − Repairs & maintenance: −$1,785
• − Management: −$1,785
• − Depreciation: −$13,379
• Taxable loss: −$25,759
• Est. tax savings @ 24.0%: +$6,182
• After-tax cash flow: $-10,494/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: Columbia County
• NCES district ID: 1301410
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 52% ▼ -4.00%
• Median HH income: $69,358
• Composite: 45.04/100
• National rank: #2695
• State rank: #13 of 174 in GA

Livability — Appling

• Score: 57/100
• State rank: #457
• US rank: #21719

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,375

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 189,073 people
• By 2030: 212,277 · +12.3%
• By 2040: 259,480 · +37.2%
• By 2050: 306,991 · +62.4%
• By 2075: 421,213 · +122.8%
• By 2100: 496,722 · +162.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 17% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Serbian 3% Slovak 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Columbia

• 2024 margin: Strong R (+25.6) · D 36.8% · R 62.5%
• 2008→2024 swing: +17.0pp toward D · 2008: -42.7pp · 2024: -25.6pp
• All cycles: 2024: R+25.6 2020: R+25.8 2016: R+37.7 2012: R+43.0 2008: R+42.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.67%
• Current HPI: 339.0061
• 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

+206.6% since first listed

8 events — show timeline

• 2026-05-30 Relisted — Hive MLS
• 2026-05-28 Listing Removed — Hive MLS
• 2026-05-11 Listing Removed — Hive MLS
• 2026-04-12 Price Changed $459,900 Hive MLS
• 2026-01-13 Price Changed $469,900 Hive MLS
• 2025-12-24 Listed $489,900 Hive MLS
• 2025-12-24 Listed $459,900 Hive MLS
• 2025-04-21 Sold (Public Records) $150,000 Public Records

Property tax history

+14.2%/yr

Latest (2025): $3,065 · +30.4% YoY. Source: county tax records.