26 Boone Dr · Newnan, GA 30263

$86,150

2 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 174 Days on market

Built 1965 0.55 ac lot $60/sqft · 47% below area Est $162k · 47% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just minutes from Downtown Newnan! 2 bedrooms, 2 baths, den or 3rd bedroom just waiting for the person who can give it the TLC it deserves.

Key facts

• 0.55 acre lot
• Built 1965
• Listed 174 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $743 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• Recommended offer: $76k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 3.8% in Newnan — 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 66/100 on livability (#184 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, employment B; Watch: schools D+, crime F, amenities F.
• Coweta County (rural): math 37% / reading 43% proficiency, ranked #36 of 174 in GA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 529 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 963 units permitted in Coweta County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $596 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Coweta County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $64k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $33k; list at $86k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $75,812 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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 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?
6. 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?
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: 1.93% ✓
• Cap rate: 16.65%
• Cash-on-cash: 36.98%
• DSCR: 2.65
• GRM: 4.3

CMA / ARV

• ARV (median comp): $161,948
• List price: $86,150
• Delta: -46.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Hamilton Bohannon Dr	0.21mi	3/1.0 (+1)	1,387 (-4%)	5mo	$173,400	$125	71
64 Wesley St	0.43mi	2/2.0	1,478 (+3%)	7mo	$130,500	$88	70
3 Center Ct	0.22mi	3/1.0 (+1)	1,508 (+5%)	8mo	$145,000	$96	66
106 Sunset Ln	0.31mi	3/2.0 (+1)	1,325 (-8%)	2mo	$240,000	$181	66
17 Waverly Cir	0.46mi	3/2.0 (+1)	1,384 (-4%)	7mo	$290,000	$210	62
10 6th St	0.65mi	3/2.0 (+1)	1,421 (-1%)	10mo	$370,000	$260	54
116 Boone Dr	0.40mi	3/2.0 (+1)	1,306 (-9%)	9mo	$235,000	$180	54
37 Powell Pl	0.62mi	3/2.5 (+1)	1,488 (+3%)	7mo	$420,000	$282	53
169 Washington St	0.31mi	3/2.0 (+1)	1,628 (+13%)	9mo	$250,000	$154	52
94 4th St	0.40mi	3/2.0 (+1)	1,264 (-12%)	10mo	$290,000	$229	48
49 Virginia Heights Dr	0.58mi	3/2.0 (+1)	1,275 (-12%)	9mo	$212,900	$167	41
10 Watson Dr	0.72mi	3/1.5 (+1)	1,595 (+11%)	0mo	$285,000	$179	41

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 · 2.87% rent growth · sell at horizon

5-year hold

• IRR: 32.7%
• Equity multiple: 2.38×
• Total profit: $33,176
• Equity at exit: $12,845

10-year hold

• IRR: 39.7%
• Equity multiple: 4.69×
• Total profit: $88,998
• Equity at exit: $7,449

Cash invested: $24,122 (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 30263

• Home prices YoY: -34.5%
• Rents YoY: 2.9%
• Active inventory: 529
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,659 high
• Mortgage (P&I): −$452
• Tax from tax record: −$80 /mo · $958/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $743

Break-even live

Break-even rent $718

Max offer price $86,150

Occupancy floor 50%

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: $21,538
• Closing costs: $2,584
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 W Washington St Newnan, GA	2.0	1.0	939	$1,300	$1.38	43d	1	0.17mi
7 N Annie St Newnan, GA	2.0	1.0	907	$1,550	$1.71	19d	1	0.30mi
45 Domineck St Newnan, GA	3.0	2.0	1218	$1,800	$1.48	5d	1	0.34mi
74 Spring St Unit C Newnan, GA	1.0	1.0	1000	$1,100	$1.10	16d	1	0.43mi
6 Georgian Dr Newnan, GA	3.0	2.0	1444	$1,875	$1.30	24d	1	0.56mi
54 Virginia Heights Dr Newnan, GA	3.0	2.0	1214	$1,945	$1.60	17d	1	0.60mi
42 Westgate Park Ln Newnan, GA	3.0	1.0	1075	$1,350	$1.26	43d	1	0.69mi
13 Greenville St S Unit B Newnan, GA	2.0	2.0	950	$2,400	$2.53	19d	1	0.70mi
59 Belk Rd Unit A Newnan, GA	2.0	1.0	1024	$1,450	$1.42	43d	1	0.78mi
22 Willow Dr Newnan, GA	3.0	1.0	950	$1,695	$1.78	24d	1	0.89mi
22 Willow Dr Newnan, GA	3.0	1.0	950	$1,695	$1.78	15d	1	0.89mi
15 Casey St Newnan, GA	2.0	2.0	1022	$1,850	$1.81	24d	1	0.91mi
39 Fairview Dr Newnan, GA	3.0	2.0	1460	$2,005	$1.37	43d	1	0.98mi
39 Willow Dr Newnan, GA	3.0	1.0	950	$2,500	$2.63	2d	1	0.98mi
9 Heery Rd Newnan, GA	3.0	1.5	1350	$1,750	$1.30	43d	1	1.20mi
33 Heery Rd Newnan, GA	3.0	1.0	1325	$1,774	$1.34	1d	1	1.21mi
77 Spence Ave Newnan, GA	3.0	1.0	1008	$1,400	$1.39	43d	1	1.25mi
31 Reynolds St Newnan, GA	3.0	1.0	1336	$1,395	$1.04	24d	1	1.33mi
31 Reynolds St Newnan, GA	3.0	1.0	1336	$1,495	$1.12	43d	1	1.33mi
43 Berry Ave Newnan, GA	3.0	1.0	1016	$1,475	$1.45	5d	1	1.37mi

Listing history 10 events

1. 2026-05-13
   price $86,150 139-char remark

   Show marketing remark (139 chars)

   Just minutes from Downtown Newnan! 2 bedrooms, 2 baths, den or 3rd bedroom just waiting for the person who can give it the TLC it deserves.

2. 2026-04-14
   status Back On Market 139-char remark

   Show marketing remark (139 chars)

   Just minutes from Downtown Newnan! 2 bedrooms, 2 baths, den or 3rd bedroom just waiting for the person who can give it the TLC it deserves.

3. 2026-04-13
   historical 139-char remark

   Show marketing remark (139 chars)

   Just minutes from Downtown Newnan! 2 bedrooms, 2 baths, den or 3rd bedroom just waiting for the person who can give it the TLC it deserves.

4. 2026-04-07
   status Back On Market 139-char remark

   Show marketing remark (139 chars)

   Just minutes from Downtown Newnan! 2 bedrooms, 2 baths, den or 3rd bedroom just waiting for the person who can give it the TLC it deserves.

5. 2026-04-06
   historical 139-char remark

   Show marketing remark (139 chars)

   Just minutes from Downtown Newnan! 2 bedrooms, 2 baths, den or 3rd bedroom just waiting for the person who can give it the TLC it deserves.

6. 2026-02-10
   price $93,600 139-char remark

   Show marketing remark (139 chars)

   Just minutes from Downtown Newnan! 2 bedrooms, 2 baths, den or 3rd bedroom just waiting for the person who can give it the TLC it deserves.

7. 2026-01-12
   price $104,000 139-char remark

   Show marketing remark (139 chars)

   Just minutes from Downtown Newnan! 2 bedrooms, 2 baths, den or 3rd bedroom just waiting for the person who can give it the TLC it deserves.

8. 2025-12-23
   price $135,000 139-char remark

   Show marketing remark (139 chars)

   Just minutes from Downtown Newnan! 2 bedrooms, 2 baths, den or 3rd bedroom just waiting for the person who can give it the TLC it deserves.

9. 2025-10-24
   listed $150,000 New 139-char remark

   Show marketing remark (139 chars)

   Just minutes from Downtown Newnan! 2 bedrooms, 2 baths, den or 3rd bedroom just waiting for the person who can give it the TLC it deserves.

10. 2005-07-26
    soldstatus $33,000

ⓘ 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: $958 · $80/mo
• Projected year-2 tax: $958 · $80/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,912
• − Mortgage interest: −$4,826
• − Property taxes: −$958
• − Insurance: −$431
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$2,506
• Taxable income: $8,005
• Est. tax owed @ 24.0%: −$1,921
• After-tax cash flow: $6,999/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: Coweta County
• NCES district ID: 1301500
• Math proficiency: 37% ▼ -16.00%
• Reading proficiency: 43% ▼ -11.00%
• Median HH income: $62,978
• Composite: 35.72/100
• National rank: #4860
• State rank: #36 of 174 in GA

Livability — Newnan

• Score: 66/100
• State rank: #184
• US rank: #11578

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newnan, GA
• County: Coweta County · 148,589 people
• City population: 101,637
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 61,695
• Household income: $78,992
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 1320.0

Population outlook (Coweta County) Hauer SSP2

• Today (2025): 162,063 people
• By 2030: 173,373 · +7.0%
• By 2040: 194,658 · +20.1%
• By 2050: 212,246 · +31.0%
• By 2075: 246,544 · +52.1%
• By 2100: 257,059 · +58.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 25% Hispanic / Latino 9% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 7% Chinese 1% Other Indo-European 1%

Political lean MEDSL · Coweta

• 2024 margin: Solid R (+33.9) · D 32.7% · R 66.6%
• 2008→2024 swing: +7.3pp toward D · 2008: -41.2pp · 2024: -33.9pp
• All cycles: 2024: R+33.9 2020: R+35.5 2016: R+42.3 2012: R+44.1 2008: R+41.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.23%
• Current HPI: 249.0207
• Rent YoY: ▲ 2.87%
• 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

+161.1% since first listed

10 events — show timeline

• 2026-05-13 Price Changed $86,150 GAMLS
• 2026-04-14 Relisted — GAMLS
• 2026-04-13 Listing Removed — GAMLS
• 2026-04-07 Relisted — GAMLS
• 2026-04-06 Listing Removed — GAMLS
• 2026-02-10 Price Changed $93,600 GAMLS
• 2026-01-12 Price Changed $104,000 GAMLS
• 2025-12-23 Price Changed $135,000 GAMLS
• 2025-10-24 Listed $150,000 GAMLS
• 2005-07-26 Sold (Public Records) $33,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $958 · +2.1% YoY. Source: county tax records.