240 Cleveland Rd #440 · Athens-Clarke County unified government (balance), GA 30606

$199,000

2 bd · 2.5 ba · 1,152 sqft · Condo · 47 Days on market

Built 2003 Good condition $173/sqft · 7% below area Est $215k · 7% under $175/mo HOA · 11% of rent ↓ 7% since listing

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Why this score? — see what drove the F 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 +10.8/15.0
• Cash flow +6.7/30.0
• Condition / age +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• 1% rule +2.8/10.0
• Livability +2.5/5.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 2BR/2.5BA all brick end unit with an open floor plan, spacious bedrooms, and convenient location just minutes from the bypass, shopping, grocery, restaurants, and more. The main level features a living room/dining room combo that is open to the kitchen via breakfast bar, laundry room, pantry, and a powder room for guests. The kitchen features upgraded cabinetry, track lighting, and stainless steel appliances as well as having an exit out to the rear deck which is perfect for grilling. Upstairs your will find the Primary Suite with vaulted ceilings, dual closets, and private bathroom. The second bedroom upstairs also has its own private bath as well as a walk in closet.

Key facts

• $175 HOA
• Built 2003
• Listed 47 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $199k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-321 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (23.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (21.8% below list).
• Recommended offer: $153k (23.3% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 3.4% in Athens-Clarke County unified government (balance) — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Clarke County (urban): math 17% / reading 21% proficiency, ranked #146 of 174 in GA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cleveland Road Elementary School (math 12% / reading 27%, grade F, #878 of 1,228 statewide, top 75%, 284 students, 83% FRL); Burney-Harris-Lyons Middle School (math 19% / reading 23%, grade F, #342 of 470 statewide, top 73%, 728 students, 83% FRL); Clarke Central High School (math 15% / reading 24%, grade F, #238 of 424 statewide, top 57%, 1,836 students, 83% FRL).
• Market conditions: Rents rising (+1.6%/yr); 528 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 51d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,172 units permitted in Clarke County in 2024 (876 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Clarke County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 7 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.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,618 (23.3% 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 47 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.78% ✗
• Cap rate: 4.36%
• Cash-on-cash: -6.90%
• DSCR: 0.69
• GRM: 10.7

CMA / ARV

• ARV (median comp): $214,722
• List price: $199,000
• Delta: -7.32%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 Cleveland Rd #228	0.09mi	2/2.0	1,215 (+6%)	4mo	$190,000	$156	82
637 Huntington Rd Unit B1	0.56mi	2/2.5	1,168 (+1%)	1mo	$125,000	$107	71
211 Littleton Way	0.07mi	2/2.5	1,332 (+16%)	6mo	$260,000	$195	67
460 Huntington Rd	0.66mi	2/2.0	1,140 (-1%)	5mo	$175,000	$154	61
470 Huntington Rd #5	0.67mi	2/2.0	1,140 (-1%)	5mo	$180,000	$158	61
219 Tall Tree Rd	1.49mi	3/2.0 (+1)	1,200 (+4%)	6mo	$292,900	$244	46
280 Huntington Rd	0.53mi	3/2.0 (+1)	1,332 (+16%)	2mo	$160,000	$120	42
135 Cavalier Ct	0.60mi	3/2.0 (+1)	1,376 (+19%)	4mo	$249,900	$182	37
170 Huntington Ct	0.52mi	3/1.5 (+1)	1,350 (+17%)	6mo	$190,000	$141	37
137 Huntington Shoals Dr	0.75mi	3/2.0 (+1)	1,315 (+14%)	2mo	$320,000	$243	33
396 Park West Blvd	0.78mi	3/2.0 (+1)	1,420 (+23%)	5mo	$345,000	$243	29
255 Marlborough Downs Rd	1.41mi	3/1.0 (+1)	1,000 (-13%)	5mo	$244,000	$244	28

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -30.0%
• Equity multiple: 0.02×
• Total profit: $-54,724
• Equity at exit: $29,672

10-year hold

• IRR: -39.9%
• Equity multiple: -0.47×
• Total profit: $-82,154
• Equity at exit: $17,206

Cash invested: $55,720 (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 →

Active competition Active MLS

• For sale now: 0 active · 2 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 30606

• Rents YoY: 1.6%
• Active inventory: 528
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,557 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$175
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $-321

Break-even live

Break-even rent $1,962

Max offer price $152,618

Occupancy floor —

Sensitivity live

Price	-10% $-183	-5% $-252	+0% $-321	+5% $-389	+10% $-458
Rent	-10% $-444	-5% $-382	+0% $-321	+5% $-259	+10% $-198
Rate	-1.0pp $-220	-0.5pp $-270	base $-321	+0.5pp $-372	+1.0pp $-425

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: $49,750
• Closing costs: $5,970
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 Cleveland Rd Bogart, GA	2.0	2.0–2.5	1342	$1,400	$1.04	162d	2	0.01mi
240 Cleveland Rd #440 Bogart, GA	2.0	2.5	1152	$1,500	$1.30	51d	1	0.04mi
135 Logmont Trce Athens, GA	2.0	2.5	1332	$1,500	$1.13	10d	1	0.05mi
135 Logmont Trce Athens, GA	2.0	2.5	1332	$1,500	$1.13	51d	1	0.05mi
637 Huntington Rd Athens, GA	2.0	2.0–2.5	1168	$1,400	$1.20	5d	2	0.54mi
482 Huntington Rd Athens, GA	2.0	2.5	1475	$1,550	$1.05	51d	1	0.69mi
332 Park West Blvd Unit NA Bogart, GA	3.0	2.0	1500	$2,100	$1.40	162d	1	0.70mi
332 Park West Blvd General, GA	3.0	2.0	1500	$2,200	$1.47	184d	1	0.70mi
150 Westpark Dr Athens, GA	1.0–2.0	1.0–2.0	952	$1,775	$1.86	0d	20	0.90mi
225 Jennings Mill Pkwy Athens, GA	1.0–3.0	1.0–2.0	1191	$1,766	$1.48	0d	34	0.93mi
125 Jennings Mill Pkwy Athens, GA	1.0–3.0	1.0–2.0	1128	$1,549	$1.37	0d	17	1.15mi
2035 Timothy Rd Athens, GA	1.0–3.0	1.0–2.0	1031	$1,672	$1.62	0d	14	1.30mi

Property features AI

Finance

• Other: Located in the Logans Walk subdivision
• HOA & community: Homeowners association with a $175 monthly fee

Exterior

• Parking: Parking lot
• Utilities: Public waterPublic sewerUnderground utilities
• Home design: CondominiumAttached property with one common wall2-story building
• Construction: Brick construction
• Exterior features: Deck

Interior

• Kitchen: DishwasherMicrowaveOvenRangeRefrigeratorDisposalElectric water heaterBreakfast bar (kitchen feature)
• Bathrooms: 2 full bathrooms1 half bathroom1 main-level bathroom
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Breakfast barHigh ceilingsVaulted ceilings
• Laundry & utility: WasherDryerLaundry room

HOA detail $175/mo · $2,100/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-10-31
   days on market $199,000 Active 47 DOM
2. 2026-10-30
   days on market $199,000 Active 46 DOM
3. 2026-10-29
   days on market $199,000 Active 45 DOM
4. 2026-10-28
   days on market $199,000 Active 44 DOM
5. 2026-10-27
   days on market $199,000 Active 43 DOM
6. 2026-10-26
   days on market $199,000 Active 42 DOM
7. 2026-10-25
   days on market $199,000 Active 41 DOM
8. 2026-10-24
   days on market $199,000 Active 40 DOM
9. 2026-10-23
   days on market $199,000 Active 39 DOM
10. 2026-10-22
    days on market $199,000 Active 38 DOM
11. 2026-10-21
    days on market $199,000 Active 37 DOM
12. 2026-10-20
    days on market $199,000 Active 36 DOM
13. 2026-10-19
    days on market $199,000 Active 35 DOM
14. 2026-10-18
    days on market $199,000 Active 34 DOM
15. 2026-10-17
    days on market $199,000 Active 33 DOM
16. 2026-10-16
    days on market $199,000 Active 32 DOM
17. 2026-10-15
    days on market $199,000 Active 31 DOM
18. 2026-10-14
    days on market $199,000 Active 30 DOM
19. 2026-10-13
    days on market $199,000 Active 29 DOM
20. 2026-10-12
    days on market $199,000 Active 28 DOM
21. 2026-10-11
    days on market $199,000 Active 27 DOM
22. 2026-10-10
    days on market $199,000 Active 26 DOM
23. 2026-10-09
    days on market $199,000 Active 25 DOM
24. 2026-10-08
    days on market $199,000 Active 24 DOM
25. 2026-10-07
    days on market $199,000 Active 23 DOM
26. 2026-10-06
    days on market $199,000 Active 22 DOM
27. 2026-10-05
    days on market $199,000 Active 21 DOM
28. 2026-10-04
    days on market $199,000 Active 20 DOM
29. 2026-10-04
    days on market $199,000 Active 19 DOM
30. 2026-10-02
    days on market $199,000 Active 18 DOM
31. 2026-10-01
    days on market $199,000 Active 17 DOM
32. 2026-09-30
    days on market $199,000 Active 16 DOM
33. 2026-09-29
    days on market $199,000 Active 15 DOM
34. 2026-09-28
    days on market $199,000 Active 14 DOM
35. 2026-09-27
    days on market $199,000 Active 13 DOM
36. 2026-09-26
    days on market $199,000 Active 12 DOM
37. 2026-09-25
    days on market $199,000 Active 11 DOM
38. 2026-09-24
    days on market $199,000 Active 10 DOM
39. 2026-09-24
    days on market $199,000 Active 9 DOM
40. 2026-09-22
    days on market $199,000 Active 8 DOM
41. 2026-09-21
    days on market $199,000 Active 7 DOM
42. 2026-09-20
    days on market $199,000 Active 6 DOM
43. 2026-09-18
    days on market $199,000 Active 4 DOM
44. 2026-09-17
    days on market $199,000 Active 3 DOM
45. 2026-09-16
    days on market $199,000 Active 2 DOM
46. 2026-09-15
    days on marketlisting id $199,000 Active 1 DOM
47. 2026-08-31
    days on market $199,000 Active 81 DOM
48. 2026-08-30
    days on market $199,000 Active 80 DOM
49. 2026-08-29
    days on market $199,000 Active 79 DOM
50. 2026-08-28
    days on market $199,000 Active 78 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,679
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$1,494
• − Management: −$1,494
• − HOA: −$2,100
• − Depreciation: −$5,789
• Taxable loss: −$7,326
• Est. tax savings @ 24.0%: +$1,758
• After-tax cash flow: $-2,088/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.

Condition & rehab AI · 14 photos

Good 75/100 Cosmetic rehab Est. rehab $5,760–$17,280 screening

This 2BR/2.5BA townhouse is in good condition with a good condition score of 75. It has a good roof, exterior, and interior walls/paint. The kitchen and bathrooms are in good condition with upgraded cabinetry and track lighting. The flooring is hardwood and the systems are in good condition. The property has a good rehab level of cosmetic and requires minor maintenance. The highest-ROI updates that would raise its resale or rental value are painting the exterior and landscaping the front yard.

Value-add opportunities

• Resale Painting the exterior — Enhances curb appeal and property value ↑
• Resale Landscaping the front yard — Improves curb appeal and enhances property value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Chase Street Elementary School F GA #336/1,228 Nat'l #16,061/41,679 Middle Clarke Middle School F GA #271/470 Nat'l #9,793/14,009 High Clarke Central High School F GA #238/424 Nat'l #14,291/17,239

Schools (NCES district)

• District: Clarke County
• NCES district ID: 1301170
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $33,649
• Composite: 15.51/100
• National rank: #9302
• State rank: #146 of 174 in GA

Livability — Athens-Clarke County unified government (balance)

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

Census & demographics

• Census place: Athens-Clarke County unified government (balance), GA
• County: Clarke County · 141,365 people
• City population: 119,110
• Metro: Athens-Clarke County, GA
• Population (ZIP): 47,865
• Household income: $63,328
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 14% of renters

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Population outlook (Clarke County) Hauer SSP2

• Today (2025): 141,365 people
• By 2030: 151,724 · +7.3%
• By 2040: 168,541 · +19.2%
• By 2050: 184,855 · +30.8%
• By 2075: 221,736 · +56.9%
• By 2100: 253,853 · +79.6%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Black 20% Hispanic / Latino 11% Two or more races 7% Asian 5%
• Hispanic origin (detail): Mexican 7%
• Languages at home: 87% English-only · Spanish 7% Other Asian/Pacific 2% Chinese 1%

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Political lean MEDSL · Clarke

• 2024 margin: Solid D (+38.3) · D 68.6% · R 30.4% · Other 1.0%
• 2008→2024 swing: +7.0pp toward D · 2008: 31.3pp · 2024: 38.3pp
• All cycles: 2024: D+38.3 2020: D+42.1 2016: D+38.0 2012: D+28.9 2008: D+31.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -454.63%
• Current HPI: 258.4817
• Rent YoY: ▲ 1.58%
• Metro: Athens-Clarke County, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

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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

Property features AI

Finance

• Other: Located in the Logans Walk subdivision
• HOA & community: Homeowners association with a $175 monthly fee

Exterior

• Parking: Parking lot
• Utilities: Public waterPublic sewerUnderground utilities
• Home design: CondominiumAttached property with one common wall2-story building
• Construction: Brick construction
• Exterior features: Deck

Interior

• Kitchen: DishwasherMicrowaveOvenRangeRefrigeratorDisposalElectric water heaterBreakfast bar (kitchen feature)
• Bathrooms: 2 full bathrooms1 half bathroom1 main-level bathroom
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Breakfast barHigh ceilingsVaulted ceilings
• Laundry & utility: WasherDryerLaundry room

Price history

-7.4% since first listed

15 events — show timeline

• 2026-09-14 Listed $199,000 Hive MLS
• 2026-09-14 Listed $199,000 GAMLS
• 2026-08-31 Listing Removed — Hive MLS
• 2026-07-31 Listing Removed — GAMLS
• 2026-07-31 Listing Removed — Hive MLS
• 2026-07-01 Listing Removed — GAMLS
• 2026-06-30 Price Changed $199,000 GAMLS
• 2026-06-30 Price Changed $199,000 Hive MLS
• 2026-06-30 Listed $208,000 GAMLS
• 2026-06-24 Listed $208,000 GAMLS
• 2026-06-01 Listed $208,000 Hive MLS
• 2026-05-26 Listing Removed — GAMLS
• 2026-05-22 Listing Removed — Hive MLS
• 2026-03-17 Listed $215,000 Hive MLS
• 2026-03-17 Listed $215,000 GAMLS