707 Mclemore St · LaFayette, GA 30728

$69,900

2 bd · 1.0 ba · 928 sqft · SingleFamily public records · 10 Days on market

Built 1922 0.95 ac lot ↓ 36% since listing

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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 +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 +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Large multifamily investment opportunity positioned near Savannah's growing arts and redevelopment corridor. Conveniently located near SCAD and just minutes from the popular Starland District, an area known for its restaurants, nightlife, galleries, and ongoing revitalization. This vacant property offers nearly 3,000 sqft with significant value-add potential for investors seeking a rental portfolio addition, student housing opportunity, or redevelopment project. Strong upside potential in one of Savannah's rapidly evolving markets.

Key facts

• 0.95 acre lot
• Built 1922
• Listed 10 days

Property features AI

Finance

• Other: Parcel number available
• Financial info: Listing terms include cash and other
• HOA & community: No HOA; No association fee

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Other utilities
• Home design: Single family residence; Residential property; Resale; Structure listed as other; Built in 1922; One story
• Construction: Built in 1922; Other construction materials; Other roof
• Exterior features: Other roof; Other construction materials; Lot nearly 1 acre (approximately 0.95 acre)

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms on the main level
• Flooring: Other flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Has heating (type: Other); Has cooling (type: Other)
• Interior features: One-level living; Other interior features
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $519 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 15.2% 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: Gilbert Elementary School (math 22% / reading 22%, grade F, #810 of 1,228 statewide, top 69%, 508 students, 80% 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: 220 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 $483 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1922 — 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 $69,900

Questions for the listing agent

1. Built in 1922 — 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: 1.78% ✓
• Cap rate: 15.21%
• Cash-on-cash: 31.83%
• DSCR: 2.42
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $169,824
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
607 Colerain St	0.14mi	2/1.0	924 (-0%)	13mo	$169,000	$183	82
705 Mclemore St	0.01mi	3/1.0 (+1)	1,006 (+8%)	5mo	$20,000	$20	77
703 Bomar St	0.35mi	3/1.0 (+1)	960 (+3%)	3mo	$180,000	$188	70
1102 Chestnut St	0.35mi	3/2.0 (+1)	925 (-0%)	10mo	$163,000	$176	66
607 Thornton St	0.28mi	3/2.0 (+1)	1,008 (+9%)	1mo	$170,000	$169	63
705 Bomar St	0.34mi	3/2.0 (+1)	945 (+2%)	12mo	$182,500	$193	62
409 Daugherty St	0.32mi	2/1.0	1,012 (+9%)	13mo	$30,000	$30	59
1103 Sisemore St	0.39mi	3/1.5 (+1)	984 (+6%)	7mo	$155,000	$158	59
239 Thurman St	0.34mi	3/1.0 (+1)	1,064 (+15%)	1mo	$206,000	$194	54
205 Cavender St	0.42mi	2/2.0	1,050 (+13%)	5mo	$199,900	$190	51
13 N Steele St	0.72mi	2/1.0	1,054 (+14%)	5mo	$50,000	$47	40
122 Pledger St	0.74mi	3/1.0 (+1)	1,000 (+8%)	11mo	$190,000	$190	38

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: 26.8%
• Equity multiple: 2.11×
• Total profit: $21,746
• Equity at exit: $10,422

10-year hold

• IRR: 34.4%
• Equity multiple: 4.14×
• Total profit: $61,540
• Equity at exit: $6,044

Cash invested: $19,572 (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: 220
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,242 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$66 /mo · $797/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $519

Break-even live

Break-even rent $585

Max offer price $69,900

Occupancy floor 53%

Sensitivity live

Price	-10% $559	-5% $539	+0% $519	+5% $499	+10% $480
Rent	-10% $421	-5% $470	+0% $519	+5% $568	+10% $617
Rate	-1.0pp $554	-0.5pp $537	base $519	+0.5pp $501	+1.0pp $483

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-02
   remarks 537-char remark
2. 2026-05-31
   status $69,900 Under Contract 10 DOM
3. 2026-05-30
   days on market $69,900 New 10 DOM
4. 2026-05-20
   listed $69,900 New
5. 2025-07-16
   historical
6. 2025-06-29
   price $89,900
7. 2025-06-22
   price $104,900
8. 2025-06-10
   listed $109,900 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: $797 · $66/mo
• Projected year-2 tax: $797 · $66/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 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $14,906
• − Mortgage interest: −$3,915
• − Property taxes: −$797
• − Insurance: −$350
• − Repairs & maintenance: −$1,193
• − Management: −$1,193
• − Depreciation: −$2,033
• Taxable income: $5,425
• Est. tax owed @ 24.0%: −$1,302
• After-tax cash flow: $4,928/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

-36.4% since first listed

5 events — show timeline

• 2026-05-20 Listed $69,900 GAMLS
• 2025-07-16 Listing Removed — GAMLS
• 2025-06-29 Price Changed $89,900 GAMLS
• 2025-06-22 Price Changed $104,900 GAMLS
• 2025-06-10 Listed $109,900 GAMLS

Property tax history

+6.0%/yr

Latest (2025): $797 · -4.4% YoY. Source: county tax records.