418 Metcalf Ave · Thomasville, GA 31792

$129,900

4 bd · 2.0 ba · 840 sqft · MultiFamily public records · 79 Days on market

Built 1914 9,583 sqft lot

---

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 +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

A recently renovated duplex, conveniently located in the heart of town, offers two separate one-bedroom, one-bathroom units. Both units feature LVP flooring and freshly painted interiors. This investment opportunity is highly sought after. Alternatively, you can purchase one side of the duplex for personal use and the other side for your rental, providing a multitude of possibilities. Appliances are included in the purchase price. Contact today to learn more about this exceptional investment opportunity.

Key facts

• 9,583 sq ft lot
• 2 garage spots
• Built 1914

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $932 ($11k/yr) — positive. Per door: $466/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 3.7% in Thomasville — 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 71/100 on livability (#77 in GA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: schools D, crime F, commute F.
• Thomasville City (town): math 29% / reading 37% proficiency, ranked #87 of 174 in GA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 203 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 213 units permitted in Thomas County in 2024 (72 in 5+ unit buildings).
• At $2,142/mo this rent would consume 51% of the median local household income ($50k/yr) (locally 1059% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Thomas County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% 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 $122,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.65% ✓
• Cap rate: 14.90%
• Cash-on-cash: 30.74%
• DSCR: 2.37
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 25.4%
• Equity multiple: 2.05×
• Total profit: $38,246
• Equity at exit: $19,369

10-year hold

• IRR: 33.1%
• Equity multiple: 4.01×
• Total profit: $109,512
• Equity at exit: $11,231

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 31792

• Home prices YoY: -29.0%
• Active inventory: 203
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,142 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$25 /mo · $300/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $932

Break-even live

Break-even rent $962

Max offer price $129,900

Occupancy floor 52%

Sensitivity live

Price	-10% $1,005	-5% $969	+0% $932	+5% $895	+10% $858
Rent	-10% $763	-5% $847	+0% $932	+5% $1,016	+10% $1,101
Rate	-1.0pp $997	-0.5pp $965	base $932	+0.5pp $898	+1.0pp $864

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,142
Total (2 units)			$2,142

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: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 Covington Ave Thomasville, GA	1.0–3.0	1.0–2.0	1014	$1,350	$1.33	44d	10	0.66mi
124 Ginny Ln Thomasville, GA	2.0–3.0	2.0	854	$1,300	$1.52	44d	2	1.42mi

Listing history 26 events

1. 2026-06-19
   days on market $129,900 Active 79 DOM
2. 2026-06-18
   days on market $129,900 Active 78 DOM
3. 2026-06-17
   days on market $129,900 Active 77 DOM
4. 2026-06-16
   days on market $129,900 Active 76 DOM
5. 2026-06-15
   days on market $129,900 Active 75 DOM
6. 2026-06-14
   days on market $129,900 Active 73 DOM
7. 2026-06-12
   days on market $129,900 Active 72 DOM
8. 2026-06-09
   days on market $129,900 Active 69 DOM
9. 2026-06-08
   days on market $129,900 Active 68 DOM
10. 2026-06-07
    days on market $129,900 Active 67 DOM
11. 2026-06-07
    pricedays on market $129,900 Active 66 DOM
12. 2026-06-03
    days on market $139,900 Active 63 DOM
13. 2026-06-02
    days on market $139,900 Active 62 DOM
14. 2026-06-01
    days on market $139,900 Active 61 DOM
15. 2026-05-31
    days on market $139,900 Active 60 DOM
16. 2026-05-31
    days on market $139,900 Active 59 DOM
17. 2026-04-01
    listed $139,900 Active 509-char remark

    Show marketing remark (509 chars)

    A recently renovated duplex, conveniently located in the heart of town, offers two separate one-bedroom, one-bathroom units. Both units feature LVP flooring and freshly painted interiors. This investment opportunity is highly sought after. Alternatively, you can purchase one side of the duplex for personal use and the other side for your rental, providing a multitude of possibilities. Appliances are included in the purchase price. Contact today to learn more about this exceptional investment opportunity.

18. 2024-06-20
    soldstatus $128,500 Closed 229-char remark

    Show marketing remark (229 chars)

    Attention Investors!This remodeled income-producing duplex close to downtown has 1/1 on each side with tenants paying $700/$725. Lot is deep. Less than 1 mile from Paradise Park and Cherokee Lake. Call to see this property today!

19. 2024-06-11
    status Pending 229-char remark

    Show marketing remark (229 chars)

    Attention Investors!This remodeled income-producing duplex close to downtown has 1/1 on each side with tenants paying $700/$725. Lot is deep. Less than 1 mile from Paradise Park and Cherokee Lake. Call to see this property today!

20. 2024-04-15
    listed $144,900 Active 229-char remark

    Show marketing remark (229 chars)

    Attention Investors!This remodeled income-producing duplex close to downtown has 1/1 on each side with tenants paying $700/$725. Lot is deep. Less than 1 mile from Paradise Park and Cherokee Lake. Call to see this property today!

21. 2022-08-19
    soldstatus $125,000
22. 2019-12-18
    soldstatus $60,000
23. 2017-08-04
    soldstatus $59,500
24. 2017-08-04
    soldstatus $59,500
25. 2005-07-01
    soldstatus $78,000
26. 1994-04-01
    soldstatus $6,400

ⓘ 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: $300 · $25/mo
• Projected year-2 tax: $1,195 · $100/mo
• Expected delta: +$895/yr (+$75/mo · 297.9%)

ⓘ 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 8/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,704
• − Mortgage interest: −$7,276
• − Property taxes: −$300
• − Insurance: −$650
• − Repairs & maintenance: −$2,056
• − Management: −$2,056
• − Depreciation: −$3,779
• Taxable income: $9,586
• Est. tax owed @ 24.0%: −$2,301
• After-tax cash flow: $8,881/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: Thomasville City
• NCES district ID: 1304950
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 37% ▼ -8.00%
• Median HH income: $31,040
• Composite: 26.85/100
• National rank: #7106
• State rank: #87 of 174 in GA

Livability — Thomasville

• Score: 71/100
• State rank: #77
• US rank: #6678

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomasville, GA
• County: Thomas County · 22,962 people
• City population: 22,962
• Metro: Thomasville, GA
• Population (ZIP): 22,962
• Household income: $50,460
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 1059.0

Population outlook (Thomas County) Hauer SSP2

• Today (2025): 45,303 people
• By 2030: 45,052 · -0.6%
• By 2040: 44,034 · -2.8%
• By 2050: 42,310 · -6.6%
• By 2075: 37,569 · -17.1%
• By 2100: 30,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: Black 49% White 47% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Thomas

• 2024 margin: Strong R (+24.1) · D 37.8% · R 61.9%
• 2008→2024 swing: -8.3pp toward R · 2008: -15.8pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+19.5 2016: R+21.8 2012: R+18.5 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.17%
• Current HPI: 228.0107
• Rent YoY: —
• Metro: Thomasville, 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

+2085.9% since first listed

10 events — show timeline

• 2026-04-01 Listed $139,900 TABRMLS
• 2024-06-20 Sold (MLS) $128,500 TABRMLS
• 2024-06-11 Pending — TABRMLS
• 2024-04-15 Listed $144,900 TABRMLS
• 2022-08-19 Sold (Public Records) $125,000 Public Records
• 2019-12-18 Sold (Public Records) $60,000 Public Records
• 2017-08-04 Sold (Public Records) $59,500 Public Records
• 2017-08-04 Sold (MLS) $59,500 TABRMLS
• 2005-07-01 Sold (Public Records) $78,000 Public Records
• 1994-04-01 Sold (Public Records) $6,400 Public Records

Property tax history

+5.2%/yr

Latest (2025): $300 · +15.7% YoY. Source: county tax records.