292 Thomas Dr · Eatonton, GA 31024

$265,000

3 bd · 2.0 ba · 1,680 sqft · SingleFamily · 129 Days on market

Built 2026 Good condition 0.77 ac lot ↓ 5% 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
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Cash flow +1.3/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

LAKE SINCLAIR VIEWS & stunning porch to relax! Live the lake life from your brand new home. Modern on-trend designs, thoughtful layouts, upgraded finishes/elegant touches. Plenty of yard space for your water toys. Come in from a day on the lake through your spacious mudroom. Open concept/upgraded baths, fireplace. All appliances in the virtual photo renderings are INCUDED! Pictures are renderings of home being built. Projected completion date is May 15th. Qualifies for FHA, VA and USDA financing. Comes with a 1 year warranty! $2,000 towards closing plus a smart flat screen TV if under contract before completion. Virtual Tour: https://my. matterport.com/show/ ?

Key facts

• Plenty of yard space
• Upgraded baths
• Open concept

Tags

• LAKE SINCLAIR VIEWS
• PLENTY OF YARD SPACE
• SPACIOUS MUDROOM
• OPEN CONCEPT
• UPGRADED BATHS
• FIREPLACE

🏗️ New construction. The $265,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $575,025.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-28k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (20.5% below list).
• Recommended offer: $211k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 1.5% vs local median 2.8% in Eatonton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 626 active listings in the ZIP; 129 units permitted in Putnam County in 2024 (50 in 5+ unit buildings).
• This rent runs 38% 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 $4k of loan paydown is wiped out by about $17k 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 129 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $14k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.
• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,801 (20.5% 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 129 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.37% ✗
• Cap rate: 1.48%
• Cash-on-cash: -17.21%
• DSCR: 0.23
• GRM: 22.7

CMA / ARV

• ARV (median comp): $575,025
• List price: $265,000
• Delta: -53.92%
• 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
196 Old Plantation Trl NW	0.49mi	3/2.0	1,682 (+0%)	1mo	$520,000	$309	76
344 Thomas Dr	0.30mi	3/2.0	1,728 (+3%)	8mo	$199,000	$115	75
202 Thomas Dr	0.23mi	3/2.0	1,620 (-4%)	11mo	$239,900	$148	74
350 Thomas Dr SW	0.29mi	3/2.0	1,512 (-10%)	4mo	$174,000	$115	66
170 Montego Bay Rd NW	0.57mi	3/2.0	1,620 (-4%)	12mo	$480,000	$296	58
294 Thomas Dr	0.07mi	3/2.0	1,440 (-14%)	19mo	$349,900	$243	57
115 Harbour Pt NW	0.37mi	2/2.5 (-1)	1,505 (-10%)	3mo	$435,000	$289	56
130 Thomas Dr	0.49mi	3/2.0	1,530 (-9%)	9mo	$269,000	$176	55
110 Thomas Dr	0.55mi	4/2.5 (+1)	1,568 (-7%)	6mo	$249,000	$159	51
143 Old Plantation Trl NW	0.65mi	4/3.0 (+1)	1,713 (+2%)	20mo	$285,000	$166	41
123 Discovery Bay Rd	0.69mi	3/2.5	1,500 (-11%)	10mo	$649,900	$433	39
287 Napier Dr	0.74mi	3/3.0	1,860 (+11%)	12mo	$374,800	$202	34

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: -50.4%
• Equity multiple: -0.49×
• Total profit: $-240,179
• Equity at exit: $85,738

10-year hold

• IRR: —
• Equity multiple: -1.47×
• Total profit: $-398,341
• Equity at exit: $49,718

Cash invested: $161,007 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 10 active · 9 under contract
• Months of supply: 6.7 mo (15%/mo absorbed)
• Median asking: $607,200 ($343/sqft)
• Median days on market: 41 d
• This list price: 20% of active listings are priced below it
• ARV vs active asking: -0.2% vs current asking $/sqft

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

ZIP-level market 31024

• Active inventory: 626
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,108 medium
• Mortgage (P&I): −$3,015
• Tax est. 1.5%: −$719 /mo · $8,625/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $-2,309

Break-even live

Break-even rent $5,030

Max offer price $240,976

Occupancy floor —

Sensitivity live

Price	-10% $-1,911	-5% $-2,110	+0% $-2,309	+5% $-2,507	+10% $-2,706
Rent	-10% $-2,475	-5% $-2,392	+0% $-2,309	+5% $-2,225	+10% $-2,142
Rate	-1.0pp $-2,019	-0.5pp $-2,162	base $-2,309	+0.5pp $-2,458	+1.0pp $-2,609

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: $143,756
• Closing costs: $17,251
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Home warranty included
• HOA & community: No HOACommunity features include lake access

Exterior

• Parking: No dedicated parking listed
• Utilities: Public waterPublic sewerElectricity availableSewer connectedWater available
• Home design: Single-family residenceOne storyNew construction
• Construction: Built in 2026Vinyl sidingComposition roofBlock foundation
• Exterior features: DeckPorchLake view (Lake Sinclair)

Interior

• Kitchen: DishwasherRefrigeratorStainless steel appliancesElectric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: CarpetLaminate
• Bathrooms: 2 full bathrooms, both on the main levelDouble vanity
• Heating & cooling: Central heatingCentral airCeiling fans
• Interior features: Beamed ceilingsBookcasesDouble vanityHigh ceilingsSeparate showerSoaking tubSplit bedroom planVaulted ceilingsWalk-in closetsFireplace in the living roomGreat room and sun room
• Laundry & utility: Mud room

Listing history 50 events

1. 2026-08-08
   days on market $265,000 Active 129 DOM
2. 2026-08-07
   days on market $265,000 Active 128 DOM
3. 2026-08-06
   days on market $265,000 Active 127 DOM
4. 2026-08-05
   days on market $265,000 Active 126 DOM
5. 2026-08-04
   days on market $265,000 Active 125 DOM
6. 2026-08-03
   days on market $265,000 Active 124 DOM
7. 2026-07-31
   days on market $265,000 Active 121 DOM
8. 2026-07-30
   days on market $265,000 Active 120 DOM
9. 2026-07-29
   days on market $265,000 Active 119 DOM
10. 2026-07-27
    days on market $265,000 Active 117 DOM
11. 2026-07-25
    days on market $265,000 Active 115 DOM
12. 2026-07-24
    days on market $265,000 Active 114 DOM
13. 2026-07-23
    days on market $265,000 Active 113 DOM
14. 2026-07-22
    days on market $265,000 Active 112 DOM
15. 2026-07-21
    days on market $265,000 Active 111 DOM
16. 2026-07-18
    days on market $265,000 Active 108 DOM
17. 2026-07-16
    days on market $265,000 Active 106 DOM
18. 2026-07-16
    days on market $265,000 Active 105 DOM
19. 2026-07-14
    days on market $265,000 Active 104 DOM
20. 2026-07-13
    days on market $265,000 Active 103 DOM
21. 2026-07-12
    days on market $265,000 Active 102 DOM
22. 2026-07-11
    days on market $265,000 Active 101 DOM
23. 2026-07-10
    days on market $265,000 Active 100 DOM
24. 2026-07-09
    days on market $265,000 Active 99 DOM
25. 2026-07-08
    days on market $265,000 Active 98 DOM
26. 2026-07-07
    days on market $265,000 Active 97 DOM
27. 2026-07-06
    days on market $265,000 Active 96 DOM
28. 2026-07-05
    days on market $265,000 Active 95 DOM
29. 2026-07-04
    days on market $265,000 Active 94 DOM
30. 2026-07-03
    days on market $265,000 Active 93 DOM
31. 2026-07-02
    days on market $265,000 Active 92 DOM
32. 2026-07-01
    days on market $265,000 Active 91 DOM
33. 2026-06-30
    days on market $265,000 Active 90 DOM
34. 2026-06-29
    days on market $265,000 Active 89 DOM
35. 2026-06-28
    days on market $265,000 Active 88 DOM
36. 2026-06-27
    days on market $265,000 Active 87 DOM
37. 2026-06-26
    days on market $265,000 Active 85 DOM
38. 2026-06-22
    days on market $265,000 Active 82 DOM
39. 2026-06-21
    days on market $265,000 Active 81 DOM
40. 2026-06-19
    days on market $265,000 Active 79 DOM
41. 2026-06-18
    days on market $265,000 Active 78 DOM
42. 2026-06-17
    days on market $265,000 Active 77 DOM
43. 2026-06-16
    days on market $265,000 Active 76 DOM
44. 2026-06-15
    days on market $265,000 Active 75 DOM
45. 2026-06-14
    days on market $265,000 Active 73 DOM
46. 2026-06-12
    days on market $265,000 Active 72 DOM
47. 2026-06-09
    days on market $265,000 Active 69 DOM
48. 2026-06-08
    days on market $265,000 Active 68 DOM
49. 2026-06-07
    days on market $265,000 Active 67 DOM
50. 2026-06-05
    days on market $265,000 Active 64 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 7/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,296
• − Mortgage interest: −$32,210
• − Property taxes: −$8,625
• − Insurance: −$2,875
• − Repairs & maintenance: −$2,024
• − Management: −$2,024
• − Depreciation: −$16,728
• Taxable loss: −$39,190
• Est. tax savings @ 24.0%: +$9,406
• After-tax cash flow: $-18,297/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 · 6 photos

Good 80/100 None rehab

This home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would be a great investment for both resale and rental markets.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Smart home integration — Improves convenience and adds modern amenities for both buyers and renters. ↑

F Composite school gradezoned avg 26/100

Zoned Schools

Elementary Putnam County Primary School Middle Putnam County Middle School F GA #229/470 Nat'l #8,317/14,009 High Putnam County High School F GA #238/424 Nat'l #14,291/17,239

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

B Composite livability gradescore 71/100

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 · 20,747 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: 3% of renters

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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%

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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%

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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

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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: Home warranty included
• HOA & community: No HOACommunity features include lake access

Exterior

• Parking: No dedicated parking listed
• Utilities: Public waterPublic sewerElectricity availableSewer connectedWater available
• Home design: Single-family residenceOne storyNew construction
• Construction: Built in 2026Vinyl sidingComposition roofBlock foundation
• Exterior features: DeckPorchLake view (Lake Sinclair)

Interior

• Kitchen: DishwasherRefrigeratorStainless steel appliancesElectric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: CarpetLaminate
• Bathrooms: 2 full bathrooms, both on the main levelDouble vanity
• Heating & cooling: Central heatingCentral airCeiling fans
• Interior features: Beamed ceilingsBookcasesDouble vanityHigh ceilingsSeparate showerSoaking tubSplit bedroom planVaulted ceilingsWalk-in closetsFireplace in the living roomGreat room and sun room
• Laundry & utility: Mud room

Price history

-5.0% since first listed

5 events — show timeline

• 2026-05-14 Relisted — GAMLS
• 2026-05-11 Contingent — GAMLS
• 2026-05-07 Price Changed $265,000 GAMLS
• 2026-04-30 Price Changed $274,900 GAMLS
• 2026-04-01 Listed $279,000 GAMLS