401 Forsyth St · Barnesville, GA 30204

$209,900

4 bd · 2.0 ba · 3,077 sqft · SingleFamily public records · 67 Days on market

Built 1910 0.67 ac lot $68/sqft · 24% below area Est $275k · 24% under

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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 +13.2/30.0
• DSCR +4.0/10.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step back in time with this spacious 1910 home full of historic charm and endless potential. Offering over 3,000 square feet, this partially two-story residence features 6 bedrooms and 2 bathrooms, along with a traditional layout that includes a living room, den, dining room, kitchen, and dedicated laundry area. Classic Southern character is showcased with a covered front porch stretching across the front of the home, perfect for relaxing, while the covered back porch spans the full width--ideal for enjoying the peaceful surroundings. The back yard has an inviting fire pit area for relaxing conversations around an open fire. Situated on a generous 0.44-acre lot on the outskirts of Barnesville, this property offers a quiet, small-town setting with room to grow. Constructed with a sturdy frame and complemented by a large outbuilding/workshop, this property is a prime opportunity for investors or buyers looking to restore a historic home to its original beauty. With the right vision, this could be transformed into a true showplace. Sold with all current conditions.

Key facts

• Covered front porch
• Generous lot
• Historic charm

Tags

• HISTORIC CHARM
• COVERED FRONT PORCH
• COVERED BACK PORCH
• FIRE PIT AREA
• GENEROUS LOT
• LARGE OUTBUILDING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-3 ($-41/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (16.1% below list).
• Recommended offer: $176k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.2% in Barnesville — 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 73/100 on livability (#59 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Lamar County (town): math 21% / reading 27% proficiency, ranked #132 of 174 in GA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lamar County Primary School (802 students, 75% FRL); Lamar County Middle School (math 20% / reading 33%, grade F, #282 of 470 statewide, top 61%, 657 students, 58% FRL); Lamar County High School (math 17% / reading 22%, grade F, #243 of 424 statewide, top 59%, 808 students, 48% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 101 active listings in the ZIP; 129 units permitted in Lamar County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lamar County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 52% 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 $176,126 (16.1% 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 67 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.84% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 9.9

CMA / ARV

• ARV (median comp): $275,296
• List price: $209,900
• Delta: -23.75%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
500 Holmes St	0.23mi	3/3.0 (-1)	2,666 (-13%)	11mo	$250,000	$94	49
209 Founders Dr	0.71mi	5/3.0 (+1)	3,514 (+14%)	1mo	$250,000	$71	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: -16.4%
• Equity multiple: 0.42×
• Total profit: $-34,240
• Equity at exit: $31,297

10-year hold

• IRR: -8.2%
• Equity multiple: 0.49×
• Total profit: $-30,129
• Equity at exit: $18,148

Cash invested: $58,772 (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 30204

• Home prices YoY: -9.7%
• Active inventory: 101
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,761 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$207 /mo · $2,480/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $-3

Break-even live

Break-even rent $1,766

Max offer price $209,292

Occupancy floor 95%

Sensitivity live

Price	-10% $115	-5% $56	+0% $-3	+5% $-63	+10% $-122
Rent	-10% $-143	-5% $-73	+0% $-3	+5% $66	+10% $136
Rate	-1.0pp $102	-0.5pp $50	base $-3	+0.5pp $-58	+1.0pp $-113

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $209,900 Active 67 DOM
2. 2026-06-18
   days on market $209,900 Active 64 DOM
3. 2026-06-17
   days on market $209,900 Active 63 DOM
4. 2026-06-16
   days on market $209,900 Active 62 DOM
5. 2026-06-15
   days on market $209,900 Active 61 DOM
6. 2026-06-13
   days on market $209,900 Active 59 DOM
7. 2026-06-13
   days on market $209,900 Active 58 DOM
8. 2026-06-09
   days on market $209,900 Active 55 DOM
9. 2026-06-08
   days on market $209,900 Active 54 DOM
10. 2026-06-07
    days on market $209,900 Active 53 DOM
11. 2026-06-04
    days on market $209,900 Active 50 DOM
12. 2026-06-03
    days on market $209,900 Active 49 DOM
13. 2026-06-02
    days on market $209,900 Active 48 DOM
14. 2026-06-01
    days on market $209,900 Active 47 DOM
15. 2026-05-31
    days on market $209,900 Active 46 DOM
16. 2026-04-18
    price $225,000 1079-char remark

    Show marketing remark (1079 chars)

    Step back in time with this spacious 1910 home full of historic charm and endless potential. Offering over 3,000 square feet, this partially two-story residence features 6 bedrooms and 2 bathrooms, along with a traditional layout that includes a living room, den, dining room, kitchen, and dedicated laundry area. Classic Southern character is showcased with a covered front porch stretching across the front of the home, perfect for relaxing, while the covered back porch spans the full width--ideal for enjoying the peaceful surroundings. The back yard has an inviting fire pit area for relaxing conversations around an open fire. Situated on a generous 0.44-acre lot on the outskirts of Barnesville, this property offers a quiet, small-town setting with room to grow. Constructed with a sturdy frame and complemented by a large outbuilding/workshop, this property is a prime opportunity for investors or buyers looking to restore a historic home to its original beauty. With the right vision, this could be transformed into a true showplace. Sold with all current conditions.

17. 2026-04-16
    listed $225,000 Active 1085-char remark

    Show marketing remark (1079 chars)

    Step back in time with this spacious 1910 home full of historic charm and endless potential. Offering over 3,000 square feet, this partially two-story residence features 6 bedrooms and 2 bathrooms, along with a traditional layout that includes a living room, den, dining room, kitchen, and dedicated laundry area. Classic Southern character is showcased with a covered front porch stretching across the front of the home, perfect for relaxing, while the covered back porch spans the full width--ideal for enjoying the peaceful surroundings. The back yard has an inviting fire pit area for relaxing conversations around an open fire. Situated on a generous 0.44-acre lot on the outskirts of Barnesville, this property offers a quiet, small-town setting with room to grow. Constructed with a sturdy frame and complemented by a large outbuilding/workshop, this property is a prime opportunity for investors or buyers looking to restore a historic home to its original beauty. With the right vision, this could be transformed into a true showplace. Sold with all current conditions.

18. 2026-04-16
    listed $2,250,000 Active 1079-char remark

    Show marketing remark (1079 chars)

    Step back in time with this spacious 1910 home full of historic charm and endless potential. Offering over 3,000 square feet, this partially two-story residence features 6 bedrooms and 2 bathrooms, along with a traditional layout that includes a living room, den, dining room, kitchen, and dedicated laundry area. Classic Southern character is showcased with a covered front porch stretching across the front of the home, perfect for relaxing, while the covered back porch spans the full width--ideal for enjoying the peaceful surroundings. The back yard has an inviting fire pit area for relaxing conversations around an open fire. Situated on a generous 0.44-acre lot on the outskirts of Barnesville, this property offers a quiet, small-town setting with room to grow. Constructed with a sturdy frame and complemented by a large outbuilding/workshop, this property is a prime opportunity for investors or buyers looking to restore a historic home to its original beauty. With the right vision, this could be transformed into a true showplace. Sold with all current conditions.

19. 2026-04-15
    listed $225,000 New

ⓘ 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: $2,480 · $207/mo
• Projected year-2 tax: $2,480 · $207/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 7/10 Severe 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,135
• − Mortgage interest: −$11,758
• − Property taxes: −$2,480
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,691
• − Management: −$1,691
• − Depreciation: −$6,106
• Taxable loss: −$3,640
• Est. tax savings @ 24.0%: +$873
• After-tax cash flow: $832/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: Lamar County
• NCES district ID: 1303210
• Math proficiency: 21% ▼ -10.00%
• Reading proficiency: 27% ▼ -5.00%
• Median HH income: $39,643
• Composite: 20.22/100
• National rank: #8628
• State rank: #132 of 174 in GA

Livability — Barnesville

• Score: 73/100
• State rank: #59
• US rank: #5584

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Barnesville, GA
• City population: 13,425
• Population (ZIP): 13,425

Population outlook (Lamar County) Hauer SSP2

• Today (2025): 18,679 people
• By 2030: 18,508 · -0.9%
• By 2040: 18,110 · -3.0%
• By 2050: 17,518 · -6.2%
• By 2075: 16,318 · -12.6%
• By 2100: 14,176 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (58%)
• Race & ethnicity: White 58% Black 37% Two or more races 3%
• Common ancestry: Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Lamar

• 2024 margin: Solid R (+45.9) · D 26.8% · R 72.8%
• 2008→2024 swing: -18.3pp toward R · 2008: -27.6pp · 2024: -45.9pp
• All cycles: 2024: R+45.9 2020: R+41.0 2016: R+38.5 2012: R+30.2 2008: R+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.00%
• Current HPI: 279.3141
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

4 events — show timeline

• 2026-04-18 Price Changed $225,000 MGMLS
• 2026-04-16 Listed $225,000 CGMLS
• 2026-04-16 Listed $2,250,000 MGMLS
• 2026-04-15 Listed $225,000 GAMLS

Property tax history

+3.6%/yr

Latest (2025): $2,480 · +19.8% YoY. Source: county tax records.