109 E Main St · Manchester, GA 31816

$125,000

3 bd · 1.0 ba · 1,408 sqft · SingleFamily public records · 44 Days on market

Built 1920 0.30 ac lot $89/sqft · 9% above area Est $114k · 9% over

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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 +27.3/30.0
• Appreciation +10.0/10.0
• DSCR +9.5/10.0
• 1% rule +6.6/10.0
• ARV discount +3.3/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

GREAT investment for someone who wants a project. Over 1400 square feet with 3 bedrooms and 2 full baths. Located inside the city limits of Manchester. Walk to town, church and post office.

Key facts

• Downtown manchester
• 2 full baths
• 0.3 acre lot

Tags

• DOWNTOWN MANCHESTER
• WALKING DISTANCE TO DOWNTOWN
• 2 FULL BATHS
• RECENT HVAC INSTALLATION
• MAJOR REPAIRS COMPLETED

Property features AI

Finance

• Other: Located in Manchester, GA (Meriwether County); Subdivision: MANCHESTER GENERAL; Directions available
• HOA & community: No HOA

Exterior

• Parking: Off-street parking with parking pad; Open parking
• Utilities: Public water; Public sewer; Electricity available; Cable available; High-speed internet available
• Home design: Single-family residence (house); Resale property; Built in 1920
• Construction: Vinyl siding; Composition roof; Built in 1920
• Exterior features: City lot; Off-street parking with parking pad; Open parking

Interior

• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: One-level living; Public-record living area 1,408; Laundry closet; Vinyl flooring; Fireplace (1)
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#525 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Meriwether County (rural): math 18% / reading 22% proficiency, ranked #144 of 174 in GA (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mountain View Elementary School (math 28% / reading 22%, grade F, #745 of 1,228 statewide, top 61%, 756 students, 99% FRL); Manchester Middle School (math 20% / reading 26%, grade F, #321 of 470 statewide, top 69%, 313 students, 96% FRL); Manchester High School (math 24% / reading 37%, grade F, #128 of 424 statewide, top 30%, 403 students, 96% FRL) — zoned schools average 97% FRL vs 71% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 45 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 180 units permitted in Meriwether County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Meriwether County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $50k; list at $125k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 57% 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.16% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.42%
• DSCR: 1.55
• GRM: 7.2

CMA / ARV

• ARV (median comp): $114,238
• List price: $125,000
• Delta: 9.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Young St	0.24mi	3/2.0	1,393 (-1%)	12mo	$175,000	$126	73
2 Spell St	0.06mi	3/2.0	1,574 (+12%)	10mo	$148,500	$94	65
104 4th St	0.34mi	3/2.0	1,344 (-4%)	10mo	$138,000	$103	65
415 Broad St	0.39mi	3/1.5	1,438 (+2%)	15mo	$130,000	$90	64
407 2nd Ave	0.40mi	3/2.0	1,404 (-0%)	23mo	$188,000	$134	58
311 3rd Ave	0.48mi	3/1.0	1,454 (+3%)	18mo	$102,900	$71	57
10 Johnson Ave	0.35mi	3/2.0	1,490 (+6%)	19mo	$100,000	$67	54
322 Chalybeate St	0.74mi	4/2.0 (+1)	1,456 (+3%)	8mo	$170,000	$117	44
21 North St	0.67mi	3/2.0	1,224 (-13%)	7mo	$36,000	$29	37
504 W Main St	0.69mi	2/1.0 (-1)	1,238 (-12%)	12mo	$117,500	$95	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 33.4%
• Equity multiple: 3.60×
• Total profit: $91,118
• Equity at exit: $112,610

10-year hold

• IRR: 28.8%
• Equity multiple: 8.15×
• Total profit: $250,133
• Equity at exit: $242,848

Cash invested: $35,000 (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 31816

• Home prices YoY: 8.7%
• Active inventory: 45
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$76 /mo · $909/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $362

Break-even live

Break-even rent $992

Max offer price $125,000

Occupancy floor 70%

Sensitivity live

Price	-10% $433	-5% $398	+0% $362	+5% $327	+10% $291
Rent	-10% $248	-5% $305	+0% $362	+5% $419	+10% $477
Rate	-1.0pp $425	-0.5pp $394	base $362	+0.5pp $330	+1.0pp $297

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 Walker Ave Manchester, GA	4.0	2.5	1600	$1,450	$0.91	20d	1	0.93mi

Listing history 31 events

1. 2026-06-19
   days on market $125,000 Active 44 DOM
2. 2026-06-18
   days on market $125,000 Active 43 DOM
3. 2026-06-17
   days on market $125,000 Active 42 DOM
4. 2026-06-16
   days on market $125,000 Active 41 DOM
5. 2026-06-15
   days on market $125,000 Active 40 DOM
6. 2026-06-14
   days on market $125,000 Active 38 DOM
7. 2026-06-12
   days on market $125,000 Active 37 DOM
8. 2026-06-09
   days on market $125,000 Active 34 DOM
9. 2026-06-08
   days on market $125,000 Active 33 DOM
10. 2026-06-07
    days on market $125,000 Active 32 DOM
11. 2026-06-05
    days on market $125,000 Active 29 DOM
12. 2026-06-03
    days on market $125,000 Active 28 DOM
13. 2026-06-02
    days on market $125,000 Active 27 DOM
14. 2026-06-01
    days on market $125,000 Active 26 DOM
15. 2026-05-31
    days on market $125,000 Active 25 DOM
16. 2026-05-30
    days on market $125,000 Active 24 DOM
17. 2026-05-06
    listed $125,000 New 600-char remark
18. 2025-07-07
    soldstatus $50,000 Sold 192-char remark

    Show marketing remark (192 chars)

    GREAT investment for someone who wants a project. Over 1400 square feet with 3 bedrooms and 2 full baths. Located inside the city limits of Manchester. Walk to town, church and post office.

19. 2025-07-03
    soldstatus $50,000 Closed

    Show marketing remark (234 chars)

    Great investment opportunity or a fun project for a young couple. 3 nice size bedrooms and 2 full baths. French doors between the living room and dining room. Extra space with a lot of natural light would be perfect for a home office.

20. 2025-06-26
    status Under Contract 192-char remark

    Show marketing remark (234 chars)

    Great investment opportunity or a fun project for a young couple. 3 nice size bedrooms and 2 full baths. French doors between the living room and dining room. Extra space with a lot of natural light would be perfect for a home office.

21. 2025-06-26
    status Pending

    Show marketing remark (234 chars)

    Great investment opportunity or a fun project for a young couple. 3 nice size bedrooms and 2 full baths. French doors between the living room and dining room. Extra space with a lot of natural light would be perfect for a home office.

22. 2025-06-04
    price $65,000

    Show marketing remark (192 chars)

    GREAT investment for someone who wants a project. Over 1400 square feet with 3 bedrooms and 2 full baths. Located inside the city limits of Manchester. Walk to town, church and post office.

23. 2025-06-04
    price $65,000 192-char remark

    Show marketing remark (192 chars)

    GREAT investment for someone who wants a project. Over 1400 square feet with 3 bedrooms and 2 full baths. Located inside the city limits of Manchester. Walk to town, church and post office.

24. 2025-04-29
    price $75,000

    Show marketing remark (192 chars)

    GREAT investment for someone who wants a project. Over 1400 square feet with 3 bedrooms and 2 full baths. Located inside the city limits of Manchester. Walk to town, church and post office.

25. 2025-04-29
    price $75,000 192-char remark

    Show marketing remark (192 chars)

    GREAT investment for someone who wants a project. Over 1400 square feet with 3 bedrooms and 2 full baths. Located inside the city limits of Manchester. Walk to town, church and post office.

26. 2025-04-07
    price $80,000

    Show marketing remark (192 chars)

    GREAT investment for someone who wants a project. Over 1400 square feet with 3 bedrooms and 2 full baths. Located inside the city limits of Manchester. Walk to town, church and post office.

27. 2025-04-07
    price $80,000 192-char remark

    Show marketing remark (192 chars)

    GREAT investment for someone who wants a project. Over 1400 square feet with 3 bedrooms and 2 full baths. Located inside the city limits of Manchester. Walk to town, church and post office.

28. 2025-03-10
    listed $90,000 New 192-char remark

    Show marketing remark (234 chars)

    Great investment opportunity or a fun project for a young couple. 3 nice size bedrooms and 2 full baths. French doors between the living room and dining room. Extra space with a lot of natural light would be perfect for a home office.

29. 2025-03-10
    listed $90,000 Active

    Show marketing remark (234 chars)

    Great investment opportunity or a fun project for a young couple. 3 nice size bedrooms and 2 full baths. French doors between the living room and dining room. Extra space with a lot of natural light would be perfect for a home office.

30. 2010-09-09
    soldstatus $55,000
31. 1996-02-01
    soldstatus $32,550

ⓘ 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: $909 · $76/mo
• Projected year-2 tax: $1,150 · $96/mo
• Expected delta: +$241/yr (+$20/mo · 26.6%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,400
• − Mortgage interest: −$7,002
• − Property taxes: −$909
• − Insurance: −$625
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$3,636
• Taxable income: $2,444
• Est. tax owed @ 24.0%: −$587
• After-tax cash flow: $3,760/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: Meriwether County
• NCES district ID: 1303630
• Math proficiency: 18% ▼ -11.00%
• Reading proficiency: 22% ▼ -6.00%
• Median HH income: $36,287
• Composite: 16.59/100
• National rank: #9175
• State rank: #144 of 174 in GA

Livability — Manchester

• Score: 55/100
• State rank: #525
• US rank: #23555

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manchester, GA
• Population (ZIP): 4,872

Population outlook (Meriwether County) Hauer SSP2

• Today (2025): 19,554 people
• By 2030: 18,482 · -5.5%
• By 2040: 16,204 · -17.1%
• By 2050: 14,030 · -28.2%
• By 2075: 9,539 · -51.2%
• By 2100: 6,136 · -68.6%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: Black 49% White 48% Two or more races 2%
• Common ancestry: Portuguese 1% Italian 1% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Meriwether

• 2024 margin: Strong R (+25.5) · D 37.1% · R 62.6%
• 2008→2024 swing: -20.0pp toward R · 2008: -5.4pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+20.6 2016: R+15.4 2012: R+5.7 2008: R+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.75%
• Current HPI: 298.3716
• 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

+284.0% since first listed

15 events — show timeline

• 2026-05-06 Listed $125,000 GAMLS
• 2025-07-07 Sold (MLS) $50,000 GAMLS
• 2025-07-03 Sold (MLS) $50,000 CBOR
• 2025-06-26 Pending — GAMLS
• 2025-06-26 Pending — CBOR
• 2025-06-04 Price Changed $65,000 CBOR
• 2025-06-04 Price Changed $65,000 GAMLS
• 2025-04-29 Price Changed $75,000 CBOR
• 2025-04-29 Price Changed $75,000 GAMLS
• 2025-04-07 Price Changed $80,000 CBOR
• 2025-04-07 Price Changed $80,000 GAMLS
• 2025-03-10 Listed $90,000 CBOR
• 2025-03-10 Listed $90,000 GAMLS
• 2010-09-09 Sold (Public Records) $55,000 Public Records
• 1996-02-01 Sold (Public Records) $32,550 Public Records

Property tax history

+10.6%/yr

Latest (2025): $909 · +0.5% YoY. Source: county tax records.