604 N Washington St · Dublin, GA 31021

$44,000

3 bd · 1.0 ba · 1,036 sqft · SingleFamily public records · 214 Days on market

Built 1959 0.30 ac lot $42/sqft · 25% above area Est $35k · 25% over ↓ 15% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL! This 3 Bedroom 1 Bath house is located in the city of Dublin. Sold AS-IS. Currently tenant occupied.

Key facts

• 0.3 acre lot
• Built 1959
• Listed 213 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $44k.

Deal economics

• At list price, monthly cash flow is $771 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $44k).
• Recommended offer: $39k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.3% vs local median 4.2% in Dublin — 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 62/100 on livability (#322 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, schools F, amenities F.
• Dublin City (town): math 10% / reading 16% proficiency, ranked #165 of 174 in GA (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.4%/yr); 218 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 55 units permitted in Laurens County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $304 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Laurens County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 214 days — a 12% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $38,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 214 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
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 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: 2.96% ✓
• Cap rate: 27.32%
• Cash-on-cash: 75.11%
• DSCR: 4.34
• GRM: 2.8

CMA / ARV

• ARV (median comp): $35,262
• List price: $44,000
• Delta: 24.78%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Hillcrest Dr	0.43mi	2/1.0 (-1)	1,036 (0%)	5mo	$38,000	$37	70
119 Hillcrest Dr	0.46mi	3/1.0	1,032 (-0%)	16mo	$31,000	$30	64

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 · 1.45% rent growth · sell at horizon

5-year hold

• IRR: 73.3%
• Equity multiple: 4.24×
• Total profit: $39,978
• Equity at exit: $6,561

10-year hold

• IRR: 76.7%
• Equity multiple: 8.31×
• Total profit: $90,069
• Equity at exit: $3,804

Cash invested: $12,320 (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 31021

• Home prices YoY: -18.7%
• Rents YoY: 1.4%
• Active inventory: 218
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,301 high
• Mortgage (P&I): −$231
• Tax from tax record: −$8 /mo · $90/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $771

Break-even live

Break-even rent $325

Max offer price $44,000

Occupancy floor 36%

Sensitivity live

Price	-10% $796	-5% $784	+0% $771	+5% $708	+10% $693
Rent	-10% $668	-5% $720	+0% $771	+5% $823	+10% $874
Rate	-1.0pp $793	-0.5pp $782	base $771	+0.5pp $760	+1.0pp $748

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: $11,000
• Closing costs: $1,320
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Woodlawn Dr Dublin, GA	1.0–2.0	1.0–2.0	800	$1,350	$1.69	44d	4	0.69mi
703 Hudson St Dublin, GA	3.0	1.0	1032	$1,250	$1.21	44d	1	0.98mi
113 Ramsey St Dublin, GA	3.0	2.0	1500	$1,500	$1.00	44d	1	1.00mi
608 Hillcrest Pkwy Dublin, GA	2.0	1.0	726	$1,325	$1.83	44d	1	1.08mi
810 Euclid St Apt 1 Dublin, GA	2.0	1.5	910	$800	$0.88	44d	1	1.10mi

Listing history 19 events

1. 2026-06-19
   days on market $44,000 Active 214 DOM
2. 2026-06-18
   days on market $44,000 Active 213 DOM
3. 2026-06-17
   days on market $44,000 Active 212 DOM
4. 2026-06-16
   days on market $44,000 Active 211 DOM
5. 2026-06-15
   days on market $44,000 Active 210 DOM
6. 2026-06-14
   days on market $44,000 Active 208 DOM
7. 2026-06-12
   days on market $44,000 Active 207 DOM
8. 2026-06-09
   days on market $44,000 Active 204 DOM
9. 2026-06-08
   days on market $44,000 Active 203 DOM
10. 2026-06-07
    days on market $44,000 Active 202 DOM
11. 2026-06-07
    days on market $44,000 Active 201 DOM
12. 2026-06-03
    days on market $44,000 Active 198 DOM
13. 2026-06-02
    days on market $44,000 Active 197 DOM
14. 2026-06-01
    days on market $44,000 Active 196 DOM
15. 2026-05-31
    days on market $44,000 Active 195 DOM
16. 2026-05-30
    days on market $44,000 Active 194 DOM
17. 2026-04-17
    price $44,000 118-char remark

    Show marketing remark (118 chars)

    INVESTOR SPECIAL! This 3 Bedroom 1 Bath house is located in the city of Dublin. Sold AS-IS. Currently tenant occupied.

18. 2026-02-12
    price $46,000 118-char remark

    Show marketing remark (118 chars)

    INVESTOR SPECIAL! This 3 Bedroom 1 Bath house is located in the city of Dublin. Sold AS-IS. Currently tenant occupied.

19. 2025-11-17
    listed $51,800 New 118-char remark

    Show marketing remark (118 chars)

    INVESTOR SPECIAL! This 3 Bedroom 1 Bath house is located in the city of Dublin. Sold AS-IS. Currently tenant occupied.

ⓘ 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: $90 · $8/mo
• Projected year-2 tax: $405 · $34/mo
• Expected delta: +$315/yr (+$26/mo · 348.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,611
• − Mortgage interest: −$2,465
• − Property taxes: −$90
• − Insurance: −$220
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$1,280
• Taxable income: $9,059
• Est. tax owed @ 24.0%: −$2,174
• After-tax cash flow: $7,080/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: Dublin City
• NCES district ID: 1301870
• Math proficiency: 10% ▼ -15.00%
• Reading proficiency: 16% ▼ -6.00%
• Median HH income: $29,841
• Composite: 10.16/100
• National rank: #9796
• State rank: #165 of 174 in GA

Livability — Dublin

• Score: 62/100
• State rank: #322
• US rank: #17202

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dublin, GA
• County: Laurens County · 28,190 people
• City population: 28,190
• Metro: Dublin, GA
• Population (ZIP): 28,190
• Household income: $55,697
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 1279.0

Population outlook (Laurens County) Hauer SSP2

• Today (2025): 45,685 people
• By 2030: 44,056 · -3.6%
• By 2040: 40,270 · -11.9%
• By 2050: 36,094 · -21.0%
• By 2075: 26,275 · -42.5%
• By 2100: 17,160 · -62.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (51%)
• Race & ethnicity: White 51% Black 45% Asian 1%
• Common ancestry: Italian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · Laurens

• 2024 margin: Solid R (+32.7) · D 33.5% · R 66.2%
• 2008→2024 swing: -11.2pp toward R · 2008: -21.5pp · 2024: -32.7pp
• All cycles: 2024: R+32.7 2020: R+28.2 2016: R+29.1 2012: R+22.7 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.86%
• Current HPI: 186.3422
• Rent YoY: ▲ 1.45%
• Metro: Dublin, 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

-15.1% since first listed

3 events — show timeline

• 2026-04-17 Price Changed $44,000 GAMLS
• 2026-02-12 Price Changed $46,000 GAMLS
• 2025-11-17 Listed $51,800 GAMLS

Property tax history

+3.3%/yr

Latest (2025): $90 · +72.6% YoY. Source: county tax records.