The Lancaster Plan · Eatonton, GA 31024

$280,900

3 bd · 2.5 ba · 2,015 sqft · SingleFamily · 738 Days on market

↓ 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 +7.5/15.0
• Cash flow +6.8/30.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Lancaster is ranch home that has it all. Coming into the home, you'll find a flex room that can be a living room, formal dining room, study, or fourth bedroom, depending on your needs. In the central portion of the house, the family room, kitchen with a large center island, and breakfast nook flow nicely onto the covered back porch. You'll also find plenty of household storage space and a large functional mud room just off the garage. The owner's suite boasts a huge walk-in closet, and the secondary bedrooms are given privacy with a separate hallway entrance off the home's foyer. As a bonus, a bedroom can be added over the garage.

Key facts

• Huge walk-in closet
• Large center island
• Functional mud room

Tags

• FLEX ROOM
• LARGE CENTER ISLAND
• COVERED BACK PORCH
• FUNCTIONAL MUD ROOM
• HUGE WALK-IN CLOSET

🏗️ New construction. The $280,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $332,440.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $281k.

Deal economics

• At list price, monthly cash flow is $-515 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (19.7% below list).
• Recommended offer: $226k (19.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#76 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Putnam County (rural): math 33% / reading 30% proficiency, ranked #86 of 174 in GA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Putnam County Primary School (756 students, 81% FRL); Putnam County Middle School (math 31% / reading 33%, grade F, #229 of 470 statewide, top 49%, 681 students, 81% FRL); Putnam County High School (math 8% / reading 32%, grade F, #238 of 424 statewide, top 57%, 919 students, 81% FRL).
• Market conditions: 533 active listings in the ZIP; 129 units permitted in Putnam County in 2024 (50 in 5+ unit buildings).
• This rent runs 41% of the median local income ($66k/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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Putnam County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 738 days — a 12% lower offer ($247k) is reasonable based on typical stale-listing flexibility.

Recommended offer $225,581 (19.7% 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 738 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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. 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 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: 0.68% ✗
• Cap rate: 4.43%
• Cash-on-cash: -6.64%
• DSCR: 0.70
• GRM: 12.3

CMA / ARV

• ARV (median comp): $332,440
• List price: $280,900
• Delta: -15.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
132 Creekside Rd Unit (LOT 43)	0.21mi	3/2.5	2,015 (0%)	6mo	$330,875	$164	85
148 Creekside Rd Unit (LOT 35)	0.22mi	4/2.5 (+1)	2,053 (+2%)	2mo	$311,165	$152	80
151 Creekside Rd Unit (LOT 29)	0.37mi	3/2.5	2,015 (0%)	5mo	$330,390	$164	79
134 Creekside Rd Unit (LOT 42)	0.22mi	4/2.5 (+1)	2,053 (+2%)	3mo	$316,985	$154	79
126 Creekside Rd Unit (LOT 46)	0.19mi	4/2.5 (+1)	2,053 (+2%)	8mo	$315,700	$154	76
129 Creekside Rd Unit (LOT 19)	0.24mi	4/2.5 (+1)	2,053 (+2%)	7mo	$314,455	$153	75
145 Creekside Rd Unit (LOT 26)	0.22mi	3/2.0	1,826 (-9%)	1mo	$316,905	$174	71
122 Creekside Rd Unit (LOT 48)	0.19mi	3/2.0	1,826 (-9%)	7mo	$307,800	$169	68
127 Creekside Rd Unit (LOT 18)	0.24mi	3/2.0	1,826 (-9%)	9mo	$314,925	$172	64
179 Garrett Dr	0.39mi	3/2.0	1,758 (-13%)	8mo	$283,000	$161	52
118 Garrett Dr	0.60mi	3/2.0	1,828 (-9%)	3mo	$324,000	$177	52
103 Jack Ct	0.69mi	3/2.0	1,830 (-9%)	3mo	$320,000	$175	48

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: -27.8%
• Equity multiple: 0.07×
• Total profit: $-86,657
• Equity at exit: $49,568

10-year hold

• IRR: -26.3%
• Equity multiple: -0.26×
• Total profit: $-117,584
• Equity at exit: $28,743

Cash invested: $93,083 (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 31024

• Active inventory: 533
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,256 medium
• Mortgage (P&I): −$1,743
• Tax est. 1.5%: −$416 /mo · $4,987/yr
• Insurance: −$139
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $-515

Break-even live

Break-even rent $2,908

Max offer price $257,871

Occupancy floor —

Sensitivity live

Price	-10% $-286	-5% $-400	+0% $-515	+5% $-630	+10% $-745
Rent	-10% $-694	-5% $-604	+0% $-515	+5% $-426	+10% $-337
Rate	-1.0pp $-348	-0.5pp $-431	base $-515	+0.5pp $-601	+1.0pp $-689

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: $83,110
• Closing costs: $9,973
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-22
   days on market $280,900 Active 738 DOM
2. 2026-06-21
   days on market $280,900 Active 737 DOM
3. 2026-06-19
   days on market $280,900 Active 735 DOM
4. 2026-06-18
   days on market $280,900 Active 734 DOM
5. 2026-06-17
   days on market $280,900 Active 733 DOM
6. 2026-06-16
   days on market $280,900 Active 732 DOM
7. 2026-06-15
   days on market $280,900 Active 731 DOM
8. 2026-06-14
   days on market $280,900 Active 729 DOM
9. 2026-06-12
   days on market $280,900 Active 728 DOM
10. 2026-06-09
    days on market $280,900 Active 725 DOM
11. 2026-06-08
    days on market $280,900 Active 724 DOM
12. 2026-06-07
    days on market $280,900 Active 723 DOM
13. 2026-06-05
    days on market $280,900 Active 720 DOM
14. 2026-06-03
    days on market $280,900 Active 719 DOM
15. 2026-06-02
    days on market $280,900 Active 718 DOM
16. 2026-06-01
    days on market $280,900 Active 717 DOM
17. 2026-05-31
    days on market $280,900 Active 716 DOM
18. 2026-05-30
    days on market $280,900 Active 715 DOM
19. 2026-02-09
    price $280,900 642-char remark

    Show marketing remark (642 chars)

    The Lancaster is ranch home that has it all. Coming into the home, you'll find a flex room that can be a living room, formal dining room, study, or fourth bedroom, depending on your needs. In the central portion of the house, the family room, kitchen with a large center island, and breakfast nook flow nicely onto the covered back porch. You'll also find plenty of household storage space and a large functional mud room just off the garage. The owner's suite boasts a huge walk-in closet, and the secondary bedrooms are given privacy with a separate hallway entrance off the home's foyer. As a bonus, a bedroom can be added over the garage.

20. 2025-06-04
    price $290,900 642-char remark

    Show marketing remark (642 chars)

    The Lancaster is ranch home that has it all. Coming into the home, you'll find a flex room that can be a living room, formal dining room, study, or fourth bedroom, depending on your needs. In the central portion of the house, the family room, kitchen with a large center island, and breakfast nook flow nicely onto the covered back porch. You'll also find plenty of household storage space and a large functional mud room just off the garage. The owner's suite boasts a huge walk-in closet, and the secondary bedrooms are given privacy with a separate hallway entrance off the home's foyer. As a bonus, a bedroom can be added over the garage.

21. 2024-08-15
    price $305,900 642-char remark

    Show marketing remark (642 chars)

    The Lancaster is ranch home that has it all. Coming into the home, you'll find a flex room that can be a living room, formal dining room, study, or fourth bedroom, depending on your needs. In the central portion of the house, the family room, kitchen with a large center island, and breakfast nook flow nicely onto the covered back porch. You'll also find plenty of household storage space and a large functional mud room just off the garage. The owner's suite boasts a huge walk-in closet, and the secondary bedrooms are given privacy with a separate hallway entrance off the home's foyer. As a bonus, a bedroom can be added over the garage.

22. 2024-06-14
    listed $302,900 Active 642-char remark

    Show marketing remark (642 chars)

    The Lancaster is ranch home that has it all. Coming into the home, you'll find a flex room that can be a living room, formal dining room, study, or fourth bedroom, depending on your needs. In the central portion of the house, the family room, kitchen with a large center island, and breakfast nook flow nicely onto the covered back porch. You'll also find plenty of household storage space and a large functional mud room just off the garage. The owner's suite boasts a huge walk-in closet, and the secondary bedrooms are given privacy with a separate hallway entrance off the home's foyer. As a bonus, a bedroom can be added over the garage.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,070
• − Mortgage interest: −$18,622
• − Property taxes: −$4,987
• − Insurance: −$1,662
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − Depreciation: −$9,671
• Taxable loss: −$12,203
• Est. tax savings @ 24.0%: +$2,929
• After-tax cash flow: $-3,255/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: Putnam County
• NCES district ID: 1304260
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $44,038
• Composite: 26.9/100
• National rank: #7088
• State rank: #86 of 174 in GA

Livability — Eatonton

• Score: 71/100
• State rank: #76
• US rank: #6665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Putnam County · 21,601 people
• City population: 21,601
• Metro: nan
• Population (ZIP): 21,601
• Household income: $65,971
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 696.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 20,747 people
• By 2030: 20,163 · -2.8%
• By 2040: 18,680 · -10.0%
• By 2050: 17,117 · -17.5%
• By 2075: 13,269 · -36.0%
• By 2100: 9,234 · -55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+42.2) · D 28.7% · R 71.0%
• 2008→2024 swing: -10.9pp toward R · 2008: -31.4pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.9 2016: R+40.0 2012: R+35.8 2008: R+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.84%
• Current HPI: 269.8265
• Rent YoY: —
• Metro: nan
• 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

-7.3% since first listed

4 events — show timeline

• 2026-02-09 Price Changed $280,900 Zillow
• 2025-06-04 Price Changed $290,900 Zillow
• 2024-08-15 Price Changed $305,900 Zillow
• 2024-06-14 Listed $302,900 Zillow