12 Depot St · Georgetown-Quitman County, GA 39854

$129,900

3 bd · 2.0 ba · 1,200 sqft · Manufactured · 37 Days on market

Built 1991 6,534 sqft lot Est $164k · 21% under · waterfront

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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 +15.0/15.0
• Cash flow +11.0/30.0
• Appreciation +7.0/10.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

PRICE REDUCED!! This 3 bed/2 bath home is the perfect home, retirement home, or weekend get-a-way! THIS PROPERTY COULD ALSO OFFER A SHORT TERM RENTAL OPTION WITH THE EXTRA LOTS! Home has an open, eat-in kitchen with new refrigerator, spacious family room, and lots of storage. .. .Both bedrooms have their own bath. Home is handicap accessible. Home sits on a huge corner (3 lots) and has a stunning water view! Property has 2 car covered carport, 2 covered porches, storage building, pear trees, and is beautifully landscaped. Watch the sunset from your front porch or from inside your Florida room! Home is located in desired gated community. HOA is $125 per lot ($375) and includes water, sewage, garbage, and lawn maintenance. Whispering Pines community has a common boat dock, clubhouse, pool, picnic area, and playground.

Key facts

• Clubhouse
• Swimming pool
• Community boat dock

Tags

• GATED LAKEFRONT COMMUNITY
• ELECTRIC FIREPLACE
• LARGE COVERED FRONT PORCH
• COMMUNITY BOAT DOCK
• CLUBHOUSE
• SWIMMING POOL

Property features AI

Finance

• Other: Zoned RES

Exterior

• Parking: Paved, attached parking
• Utilities: Private and public water available; Cable available
• Home design: Single-story; Mobile home (residential); Facing direction not specified
• Construction: Vinyl siding; Composition roof
• Exterior features: Patio; Porch; Shed(s) and additional storage; Property has a view; Accessible entrance

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Entrance foyer; Walk-in closets; Crawl space basement
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $-54 ($-644/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (17.8% below list).
• Recommended offer: $107k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.8% in Georgetown-Quitman County — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Quitman County (town): math 10% / reading 15% proficiency, ranked #184 of 187 in GA (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 94% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 80 active listings in the ZIP; 12 units permitted in Quitman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($898 loan paydown + $5k appreciation (4.1% local appreciation)).
• Quitman County population projected at -42% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 8y ago 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 $90k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,836 (17.8% 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 37 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.77%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $163,620
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Sunset Dr	1.46mi	2/1.5 (-1)	1,280 (+7%)	8mo	$129,000	$101	41

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

Projected returns pro-forma

4.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.54×
• Total profit: $19,767
• Equity at exit: $66,412

10-year hold

• IRR: 10.9%
• Equity multiple: 2.82×
• Total profit: $66,330
• Equity at exit: $109,063

Cash invested: $36,372 (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 39854

• Home prices YoY: 2.4%
• Active inventory: 80
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,068 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $-54

Break-even live

Break-even rent $1,136

Max offer price $122,130

Occupancy floor —

Sensitivity live

Price	-10% $36	-5% $-9	+0% $-54	+5% $-99	+10% $-143
Rent	-10% $-138	-5% $-96	+0% $-54	+5% $-11	+10% $31
Rate	-1.0pp $12	-0.5pp $-21	base $-54	+0.5pp $-87	+1.0pp $-122

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $129,900 Active 37 DOM
2. 2026-06-21
   days on market $129,900 Active 36 DOM
3. 2026-06-18
   days on market $129,900 Active 34 DOM
4. 2026-06-17
   days on market $129,900 Active 33 DOM
5. 2026-06-16
   days on market $129,900 Active 32 DOM
6. 2026-06-15
   days on market $129,900 Active 31 DOM
7. 2026-06-13
   days on market $129,900 Active 29 DOM
8. 2026-06-12
   days on market $129,900 Active 28 DOM
9. 2026-06-09
   days on market $129,900 Active 25 DOM
10. 2026-06-08
    days on market $129,900 Active 24 DOM
11. 2026-06-07
    days on market $129,900 Active 23 DOM
12. 2026-06-05
    remarks 699-char remark
13. 2026-06-05
    listed $129,900 Active 21 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,820
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$1,026
• − Management: −$1,026
• − Depreciation: −$3,779
• Taxable loss: −$2,884
• Est. tax savings @ 24.0%: +$692
• After-tax cash flow: $48/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: Quitman County
• NCES district ID: 1304290
• Math proficiency: 10% ▬ 0.00%
• Reading proficiency: 15% ▲ 5.00%
• Median HH income: $32,082
• Composite: 13.53/100
• National rank: #14489
• State rank: #184 of 187 in GA

Livability — Georgetown-Quitman County

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Georgetown-Quitman County, GA
• City population: 2,407
• Population (ZIP): 2,295

Population outlook (Quitman County) Hauer SSP2

• Today (2025): 1,977 people
• By 2030: 1,789 · -9.5%
• By 2040: 1,445 · -26.9%
• By 2050: 1,148 · -41.9%
• By 2075: 590 · -70.2%
• By 2100: 328 · -83.4%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: White 49% Black 48% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Serbian 1% Iranian 1%
• Foreign-born: 0% · Canada, Jamaica

Political lean MEDSL · Quitman

• 2024 margin: R (+15.4) · D 42.1% · R 57.5%
• 2008→2024 swing: -23.3pp toward R · 2008: 7.9pp · 2024: -15.4pp
• All cycles: 2024: R+15.4 2020: R+9.7 2016: R+10.9 2012: D+9.1 2008: D+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.07%
• Current HPI: 172.7909
• 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

+78.2% since first listed

23 events — show timeline

• 2026-06-04 Relisted — EBOR
• 2026-01-24 Listed $129,900 EBOR
• 2025-03-28 Sold (MLS) — EBOR
• 2025-01-20 Price Changed $115,000 EBOR
• 2024-07-11 Price Changed $120,000 EBOR
• 2024-06-28 Relisted — EBOR
• 2024-03-14 Sold (MLS) — EBOR
• 2024-02-21 Price Changed $124,900 EBOR
• 2024-02-05 Listed $139,500 EBOR
• 2024-02-03 Listed $123,500 EBOR
• 2023-09-05 Listed $145,000 EBOR
• 2022-10-06 Sold (MLS) $89,500 GAMLS
• 2022-10-06 Sold (MLS) — EBOR
• 2022-09-12 Pending — GAMLS
• 2022-09-12 Contingent — SAMLS
• 2022-04-12 Listed $95,000 SAMLS
• 2021-07-21 Price Changed $95,000 GAMLS
• 2020-12-31 Listed $40,000 TBOR
• 2020-10-02 Listed $95,000 EBOR
• 2020-10-01 Listed $104,500 GAMLS
• 2020-06-05 Sold (MLS) $40,000 TBOR
• 2018-12-03 Sold (MLS) — EBOR
• 2018-06-28 Listed $72,900 EBOR