8122 Puckett St · Covington, GA 30014

$109,900

4 bd · 2.0 ba · 1,299 sqft · SingleFamily public records · 15 Days on market

Built 1965 9,583 sqft lot Est $186k · 41% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This newly renovated hone has 4 bedrooms and 2 full bathroom. This home features a private backyard and laminate flooring. This home sits on 1299 sqft of land and is a perfect starter home for any family. Home is getting a new roof.

Key facts

• 9,583 sq ft lot
• Built 1965
• Listed 15 days

Property features AI

Exterior

• Parking: Driveway; Open parking available
• Utilities: Public water; Public sewer; Electricity (110 volts); Electricity, sewer and water available
• Home design: One-level property
• Construction: Vinyl siding exterior; Composition roof; Block foundation; Built on .22-acre lot
• Exterior features: City street frontage; Asphalt road access

Interior

• Kitchen: Kitchen features: Other; Separate dining room
• Bedrooms: Four main-level bedrooms; Bedroom features: Other
• Flooring: Hardwood flooring; Other flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No shared/common walls; Crawl space basement; Property in fixer condition
• Laundry & utility: Laundry features: Other

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 3.8% in Covington — 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 59/100 on livability (#396 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety B+; Watch: schools F, crime F, amenities F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 479 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).
• This rent runs 31% of the median local income ($72k/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 $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.5% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 10y 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 $58k; list at $110k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $108,251 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.71% ✓
• Cap rate: 13.48%
• Cash-on-cash: 25.67%
• DSCR: 2.14
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $185,757
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8151 Puckett St SW	0.07mi	3/1.0 (-1)	1,306 (+0%)	2mo	$100,000	$77	86
9176 Carr Cir SW	0.18mi	3/1.0 (-1)	1,236 (-5%)	6mo	$108,000	$87	69
9175 Carr Cir	0.20mi	3/1.5 (-1)	1,230 (-5%)	7mo	$99,900	$81	69
9188 Jefferson Village Dr SW	0.40mi	5/2.0 (+1)	1,300 (+0%)	10mo	$233,700	$180	68
9151 Jefferson Village Dr SW	0.33mi	3/2.5 (-1)	1,308 (+1%)	11mo	$230,000	$176	67
9118 Carr Cir SW	0.09mi	3/2.0 (-1)	1,450 (+12%)	9mo	$165,000	$114	64
6255 Green Acres Dr SW	0.37mi	3/1.0 (-1)	1,296 (-0%)	13mo	$190,000	$147	63
10149 Puckett St SW	0.45mi	3/1.5 (-1)	1,256 (-3%)	10mo	$180,000	$143	58
9106 Griffin Ln SW	0.62mi	3/2.0 (-1)	1,350 (+4%)	4mo	$89,000	$66	56
6138 Green Acres Dr SW	0.42mi	3/2.0 (-1)	1,438 (+11%)	2mo	$329,900	$229	56
10164 Sunny Dr SW	0.74mi	4/1.0	1,378 (+6%)	10mo	$200,000	$145	43
10121 Morris Dr SW	0.62mi	3/1.0 (-1)	1,449 (+12%)	2mo	$110,000	$76	41

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 · 0.52% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 1.64×
• Total profit: $19,604
• Equity at exit: $16,386

10-year hold

• IRR: 23.0%
• Equity multiple: 2.74×
• Total profit: $53,463
• Equity at exit: $9,502

Cash invested: $30,772 (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 30014

• Home prices YoY: -19.2%
• Rents YoY: 0.5%
• Active inventory: 479
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,879 high
• Mortgage (P&I): −$576
• Tax from tax record: −$204 /mo · $2,454/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $658

Break-even live

Break-even rent $1,046

Max offer price $109,900

Occupancy floor 60%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8246 Collier St SW Covington, GA	3.0	1.0	1225	$1,300	$1.06	43d	1	0.25mi
9123 Jefferson Village Dr SW Covington, GA	3.0	2.0	1220	$1,750	$1.43	22d	1	0.27mi
9135 Jefferson Village Dr SW Covington, GA	3.0	2.5	1126	$1,736	$1.54	5d	1	0.29mi
6100 Greenleaf Ct SW Covington, GA	3.0	1.0	1000	$1,400	$1.40	16d	1	0.35mi
6103 Oakwood Cir SW Covington, GA	3.0	2.0	1372	$900	$0.66	17d	1	0.39mi
6154 Green Acres Dr SW Covington, GA	3.0	1.0	1040	$1,900	$1.83	24d	1	0.42mi
9161 Thrash St SW Covington, GA	4.0	2.0	1272	$1,481	$1.16	43d	1	0.64mi
10154 Allen Dr SW Covington, GA	3.0	2.0	1056	$1,800	$1.70	20d	1	0.80mi
10154 Allen Dr SW Covington, GA	3.0	2.0	1056	$1,800	$1.70	5d	1	0.80mi
4112 Dorchester Dr SE Covington, GA	3.0–5.0	2.5–4.0	2299	$3,022	$1.31	1d	1	1.05mi
6126 Avery St SW Covington, GA	3.0	2.5	1600	$1,881	$1.18	24d	1	1.15mi
100 Fleeta Dr Covington, GA	3.0	2.0	1379	$1,550	$1.12	5d	1	1.17mi
7731 Fawn Cir Covington, GA	3.0	2.5	1737	$2,400	$1.38	43d	1	1.19mi
8247 Spillers Dr SW Covington, GA	3.0	1.5	1530	$1,500	$0.98	12d	1	1.45mi
375 Stone Ridge Way Covington, GA	3.0	2.0	1478	$1,870	$1.27	5d	1	1.48mi

Listing history 12 events

1. 2026-06-18
   status $109,900 Pending 15 DOM
2. 2026-06-18
   days on market $109,900 Active 15 DOM
3. 2026-06-17
   days on market $109,900 Active 14 DOM
4. 2026-06-16
   days on market $109,900 Active 13 DOM
5. 2026-06-15
   days on market $109,900 Active 12 DOM
6. 2026-06-13
   days on market $109,900 Active 10 DOM
7. 2026-06-13
   days on market $109,900 Active 9 DOM
8. 2026-06-09
   days on market $109,900 Active 6 DOM
9. 2026-06-08
   days on market $109,900 Active 5 DOM
10. 2026-06-07
    days on market $109,900 Active 4 DOM
11. 2026-06-04
    remarks 297-char remark
12. 2026-06-04
    listed $109,900 Active 1 DOM

ⓘ 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: $2,454 · $204/mo
• Projected year-2 tax: $2,454 · $204/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,554
• − Mortgage interest: −$6,156
• − Property taxes: −$2,454
• − Insurance: −$550
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − Depreciation: −$3,197
• Taxable income: $6,589
• Est. tax owed @ 24.0%: −$1,581
• After-tax cash flow: $6,317/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: Newton County
• NCES district ID: 1303930
• Math proficiency: 17% ▼ -13.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $50,768
• Composite: 19.2/100
• National rank: #8816
• State rank: #137 of 174 in GA

Livability — Covington

• Score: 59/100
• State rank: #396
• US rank: #19602

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Covington, GA
• County: Newton County · 104,393 people
• City population: 104,393
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 41,425
• Household income: $72,254
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1934.0

Population outlook (Newton County) Hauer SSP2

• Today (2025): 118,372 people
• By 2030: 124,234 · +5.0%
• By 2040: 135,550 · +14.5%
• By 2050: 145,309 · +22.8%
• By 2075: 166,843 · +40.9%
• By 2100: 175,800 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 53% Black 35% Hispanic / Latino 7% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 7% · Canada
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Newton

• 2024 margin: D (+15.1) · D 57.3% · R 42.2%
• 2008→2024 swing: +14.0pp toward D · 2008: 1.2pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+10.9 2016: D+2.4 2012: D+2.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.50%
• Current HPI: 270.9868
• Rent YoY: ▲ 0.52%
• Metro: Atlanta-Sandy Springs-Alpharetta, 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

+449.5% since first listed

25 events — show timeline

• 2026-06-03 Listed $109,900 FMLS
• 2026-03-27 Listing Removed — GAMLS
• 2026-03-23 Price Changed $139,000 GAMLS
• 2026-03-20 Relisted — GAMLS
• 2026-03-18 Listing Removed — GAMLS
• 2026-03-11 Listed $145,000 GAMLS
• 2017-04-26 Sold (MLS) $58,000 GAMLS
• 2017-03-29 Pending — GAMLS
• 2017-03-28 Relisted — GAMLS
• 2017-03-28 Pending — GAMLS
• 2017-03-28 Price Changed $58,000 GAMLS
• 2017-03-24 Relisted — GAMLS
• 2017-03-14 Pending — GAMLS
• 2017-03-06 Price Changed $55,900 GAMLS
• 2017-03-06 Relisted — GAMLS
• 2017-02-18 Pending — GAMLS
• 2017-02-08 Listed $59,900 GAMLS
• 2017-02-01 Listing Removed — GAMLS
• 2017-01-29 Relisted — GAMLS
• 2017-01-03 Pending — GAMLS
• 2016-12-20 Relisted — GAMLS
• 2016-11-04 Pending — GAMLS
• 2016-10-20 Listed $59,900 GAMLS
• 2006-05-09 Sold (Public Records) $62,000 Public Records
• 2002-10-25 Sold (Public Records) $20,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $2,454 · +18.0% YoY. Source: county tax records.