160 Norman Rd · Mansfield, GA 30014

$260,700

3 bd · 2.0 ba · 1,845 sqft · SingleFamily public records · 16 Days on market

Built 1986 2.82 ac lot $141/sqft · 27% below area Est $357k · 27% under ↓ 15% since listing

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Why this score? — see what drove the D 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 +15.0/15.0
• Cash flow +10.8/30.0
• DSCR +3.1/10.0
• Livability +2.8/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

REDUCED and Ready to Sell! Serious Investors will love this house! Come see this 2.82 acres with a 4-sided brick home which sits off the road in a quiet lake community in the country. If you are seeking privacy, space and is interested in fixing up this solid homesite, you have to see this home in Covington, GA. So many possibilities and an opportunity to build equity and make this home yours. 2-car garage just needs garage doors to close off the large area and park your vehicles. Partial basement area has an exterior entrance on the left side of the home and could easily be a workshop or man cave hide away. No HOA. No restrictions. "As Is." Fixer Upper. Won't last long!

Key facts

• Workshop or man cave
• Exterior entrance
• 4 sided brick home

Tags

• 4 SIDED BRICK HOME
• QUIET LAKE COMMUNITY
• 2 CAR GARAGE
• PARTIAL BASEMENT AREA
• EXTERIOR ENTRANCE
• WORKSHOP OR MAN CAVE

Property features AI

Finance

• HOA & community: Community includes lake

Exterior

• Parking: Two-car garage that faces the side; Garage at kitchen level; Level driveway; Additional open parking available
• Utilities: Public water; Septic tank sewer; 110-volt electric service; Cable, electricity, and water available
• Home design: One-level home; Resale property
• Construction: Brick construction; Shingle roof; Block foundation; Built with resale condition
• Exterior features: Front porch; Gravel road access; Lake in the community

Interior

• Kitchen: Double oven; Gas cooktop; Stained cabinets
• Bedrooms: Three main-level bedrooms; Primary suite on the main level
• Flooring: Hardwood; Carpet
• Bathrooms: Two full bathrooms; Master bath with tub/shower combo
• Heating & cooling: Propane heating; Other heating system; Central air conditioning; Ceiling fans
• Interior features: One fireplace with a wood-burning stove in the family room; No common walls; Partial unfinished basement with exterior entry
• Laundry & utility: Mud room laundry area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $261k.

Deal economics

• At list price, monthly cash flow is $-118 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (27.3% below list).
• Recommended offer: $189k (27.3% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.7% in Mansfield — 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 56/100 on livability (#478 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime D-, amenities F, commute 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.
• Zoned schools: Heard-Mixon Elementary School (math 17% / reading 22%, grade F, #878 of 1,228 statewide, top 75%, 427 students, 85% FRL); Indian Creek Middle School (math 18% / reading 30%, grade F, #311 of 470 statewide, top 68%, 814 students, 85% FRL); Alcovy High School (math 3% / reading 12%, grade F, #378 of 424 statewide, top 91%, 1,991 students, 55% FRL) — zoned schools average 75% FRL vs 59% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 479 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $39k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $189,412 (27.3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-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 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.73% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.94%
• DSCR: 0.91
• GRM: 11.5

CMA / ARV

• ARV (median comp): $357,241
• List price: $260,700
• Delta: -16.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
580 Yancey Rd	0.31mi	3/2.0	1,827 (-1%)	20mo	$520,000	$285	68
135 Yancey Rd	0.27mi	3/2.5	2,000 (+8%)	7mo	$369,000	$185	66
125 Yancey Rd	0.26mi	4/3.0 (+1)	2,008 (+9%)	3mo	$375,000	$187	61
229 Yancey Rd	0.32mi	4/3.0 (+1)	1,998 (+8%)	2mo	$384,900	$193	60
110 Ball Ground Rd	0.60mi	4/2.0 (+1)	1,808 (-2%)	19mo	$373,000	$206	48
440 Yancey Cir	0.62mi	3/2.0	1,688 (-8%)	16mo	$482,000	$286	44

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: -22.1%
• Equity multiple: 0.25×
• Total profit: $-54,462
• Equity at exit: $38,871

10-year hold

• IRR: -22.6%
• Equity multiple: -0.03×
• Total profit: $-75,466
• Equity at exit: $22,541

Cash invested: $72,996 (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: 11.5×

Monthly cashflow live

• Estimated rent: $1,894 medium
• Mortgage (P&I): −$1,367
• Tax from tax record: −$139 /mo · $1,664/yr
• Insurance: −$109
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-118

Break-even live

Break-even rent $2,044

Max offer price $239,846

Occupancy floor —

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: $65,175
• Closing costs: $7,821
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 Kendall Ln Covington, GA	3.0	2.0	1285	$1,656	$1.29	10d	1	0.66mi
30 Kendall Ln Covington, GA	4.0	2.5	1926	$1,929	$1.00	2d	1	0.79mi
15985 Highway 36 Covington, GA	3.0	1.0	1344	$1,530	$1.14	44d	1	1.01mi

Listing history 15 events

1. 2026-06-18
   days on market $260,700 Active 16 DOM
2. 2026-06-17
   days on market $260,700 Active 15 DOM
3. 2026-06-16
   days on market $260,700 Active 14 DOM
4. 2026-06-15
   days on market $260,700 Active 13 DOM
5. 2026-06-13
   days on market $260,700 Active 11 DOM
6. 2026-06-13
   pricedays on market $260,700 Active 10 DOM
7. 2026-06-09
   days on market $299,900 Active 7 DOM
8. 2026-06-08
   days on market $299,900 Active 6 DOM
9. 2026-06-07
   days on market $299,900 Active 5 DOM
10. 2026-06-04
    days on market $299,900 Active 2 DOM
11. 2026-06-03
    days on marketlisting id $299,900 Active 1 DOM
12. 2026-05-04
    price $299,900 689-char remark
13. 2026-05-04
    price $299,900 689-char remark
14. 2026-04-15
    listed $305,000 New 689-char remark
15. 2026-04-15
    listed $305,000 Active 689-char remark

ⓘ 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: $1,664 · $139/mo
• Projected year-2 tax: $2,398 · $200/mo
• Expected delta: +$735/yr (+$61/mo · 44.2%)

ⓘ 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 7/10 Severe 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,729
• − Mortgage interest: −$14,603
• − Property taxes: −$1,664
• − Insurance: −$1,304
• − Repairs & maintenance: −$1,818
• − Management: −$1,818
• − Depreciation: −$7,584
• Taxable loss: −$6,062
• Est. tax savings @ 24.0%: +$1,455
• After-tax cash flow: $38/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 — Mansfield

• Score: 56/100
• State rank: #478
• US rank: #22373

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Newton County · 104,393 people
• 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

-14.5% since first listed

10 events — show timeline

• 2026-06-11 Price Changed $260,700 FMLS
• 2026-06-11 Price Changed $260,700 GAMLS
• 2026-06-02 Listed $299,900 FMLS
• 2026-06-02 Listed $299,900 GAMLS
• 2026-05-28 Listing Removed — FMLS
• 2026-05-28 Listing Removed — GAMLS
• 2026-05-04 Price Changed $299,900 FMLS
• 2026-05-04 Price Changed $299,900 GAMLS
• 2026-04-15 Listed $305,000 FMLS
• 2026-04-15 Listed $305,000 GAMLS

Property tax history

+1.5%/yr

Latest (2025): $1,664 · +29.4% YoY. Source: county tax records.