510 Alexander St · Thomasville, GA 31792

$139,000

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 31 Days on market

Built 1925 6,969 sqft lot Est $154k · 10% under

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Why this score? — see what drove the C+ 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 +25.8/30.0
• ARV discount +12.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• 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

Listing remarks

Looking for a perfect starter home or investment? Look no further!! This 2 br 1 bath home has been fully remodeled and is move in ready. Homes in thisprice point don't come on the market often - do NOT delay!!!

Key facts

• 6,969 sq ft lot
• Built 1925
• Listed 30 days

Property features AI

Exterior

• Home design: Single-family residence; One story
• Construction: Wood siding
• Exterior features: Lot of about 0.16 acres

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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).
• This rent runs 39% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1925 — 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 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?
5. 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?
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: 1.18% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.45%
• DSCR: 1.46
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $154,400
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
145 Barnes St	0.39mi	2/1.0	750 (-6%)	0mo	$144,900	$193	71
303 Felix St	0.15mi	2/1.0	710 (-11%)	7mo	$62,500	$88	68
611 N Martin Luther King Dr	0.70mi	2/1.0	750 (-6%)	12mo	$144,900	$193	47

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-921
• Equity at exit: $20,725

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $27,084
• Equity at exit: $12,018

Cash invested: $38,920 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,645 medium
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $339

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 74%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
813 N Spair St Thomasville, GA	2.0	1.0	865	$1,500	$1.73	43d	1	1.37mi
403 Remington Ave Thomasville, GA	2.0	1.0	891	$1,575	$1.77	43d	1	1.48mi

Listing history 21 events

1. 2026-06-19
   days on market $139,000 Active 31 DOM
2. 2026-06-18
   days on market $139,000 Active 30 DOM
3. 2026-06-17
   days on market $139,000 Active 29 DOM
4. 2026-06-16
   days on market $139,000 Active 28 DOM
5. 2026-06-15
   days on market $139,000 Active 27 DOM
6. 2026-06-14
   days on market $139,000 Active 25 DOM
7. 2026-06-12
   days on market $139,000 Active 24 DOM
8. 2026-06-09
   days on market $139,000 Active 21 DOM
9. 2026-06-08
   days on market $139,000 Active 20 DOM
10. 2026-06-07
    days on market $139,000 Active 19 DOM
11. 2026-06-07
    days on market $139,000 Active 18 DOM
12. 2026-06-03
    days on market $139,000 Active 15 DOM
13. 2026-06-02
    days on market $139,000 Active 14 DOM
14. 2026-06-01
    days on market $139,000 Active 13 DOM
15. 2026-05-31
    days on market $139,000 Active 12 DOM
16. 2026-05-31
    days on market $139,000 Active 11 DOM
17. 2026-05-19
    listed $139,000 Active
18. 2025-06-24
    soldstatus $166,750
19. 2022-11-30
    soldstatus $786,428
20. 2021-10-15
    soldstatus $465,000
21. 2020-01-02
    soldstatus $30,000

ⓘ 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 ≥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: $19,738
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,579
• − Management: −$1,579
• − Depreciation: −$4,044
• Taxable income: $1,970
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $3,593/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

+363.3% since first listed

5 events — show timeline

• 2026-05-19 Listed $139,000 TABRMLS
• 2025-06-24 Sold (Public Records) $166,750 Public Records
• 2022-11-30 Sold (Public Records) $786,428 Public Records
• 2021-10-15 Sold (Public Records) $465,000 Public Records
• 2020-01-02 Sold (Public Records) $30,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $85 · -0.2% YoY. Source: county tax records.