226 Zellner Rd · Yatesville, GA 31016

$239,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 1 Days on market

Built 2001 2.00 ac lot $158/sqft · 37% below area Est $377k · 37% under

---

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
• Appreciation +7.3/10.0
• Cash flow +6.2/30.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• DSCR +0.5/10.0
• 1% rule +0.1/10.0

Listing remarks

Welcome to 226 Zellner Rd! Home to peaceful country living with charming modern touches you've been looking for! Situated on 2 beautiful acres, this 3 bedroom, 2 bathroom manufactured home offers the perfect blend of comfort, functionality, and rural charm while still being conveniently located just minutes from town. Inside, you'll find durable LVP flooring throughout and a spacious layout featuring two separate living room options, giving you flexibility for entertaining, a home office, playroom, or additional family space. The recently updated kitchen is full of character with welcoming buttery yellow cabinetry, butcher block countertops, and a generously sized pantry complete with custo

Key facts

• 2 acre lot
• Built 2001

Property features AI

Finance

• Other: Lot size: 2 acres
• HOA & community: No HOA

Exterior

• Parking: Open parking with parking pad
• Utilities: Well water; Septic tank; Electricity available; High-speed internet available; Water available
• Home design: Manufactured single-family residence; One level; Resale property
• Construction: Built in 2001; Vinyl siding; Composition roof; Block foundation; Outbuilding on the property
• Exterior features: Porch; Level lot; Partially wooded

Interior

• Kitchen: Breakfast bar; Country-style kitchen; Kitchen island; Pantry; Dishwasher
• Bedrooms: Three bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Central heating; Central air conditioning; Fireplace in the family room (one)
• Interior features: Separate shower and soaking tub; Mud room; Den and family room; Crawl space basement
• Laundry & utility: Laundry area in mud room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $239k.

Deal economics

• At list price, monthly cash flow is $-437 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (32.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (48.7% below list).
• Recommended offer: $123k (48.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#353 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D, amenities 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: 13 active listings in the ZIP; 129 units permitted in Lamar County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($2k loan paydown + $11k appreciation (4.5% local appreciation)).
• Lamar County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $239k implies a 378% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,718 (48.7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.51% ✗
• Cap rate: 4.10%
• Cash-on-cash: -7.84%
• DSCR: 0.65
• GRM: 16.2

CMA / ARV

• ARV (median comp): $376,571
• List price: $239,000
• Delta: -36.53%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

4.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.8%
• Equity multiple: 1.30×
• Total profit: $20,352
• Equity at exit: $128,246

10-year hold

• IRR: 7.5%
• Equity multiple: 2.33×
• Total profit: $88,774
• Equity at exit: $215,605

Cash invested: $66,920 (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 31016

• Home prices YoY: 2.2%
• Active inventory: 13
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $1,227 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-437

Break-even live

Break-even rent $1,781

Max offer price $161,778

Occupancy floor —

Sensitivity live

Price	-10% $-302	-5% $-369	+0% $-437	+5% $-505	+10% $-572
Rent	-10% $-534	-5% $-486	+0% $-437	+5% $-389	+10% $-340
Rate	-1.0pp $-317	-0.5pp $-376	base $-437	+0.5pp $-499	+1.0pp $-562

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-13
   historical $239,000 1507-char remark
2. 2024-05-21
   soldstatus $50,000
3. 2021-10-26
   historical
4. 2021-10-10
   status Active
5. 2021-10-07
   historical
6. 2021-10-05
   status Under Contract
7. 2021-09-21
   status Under Contract
8. 2021-09-01
   price $144,900
9. 2021-08-28
   status Back on Market
10. 2021-08-28
    historical
11. 2021-08-27
    status Back on Market
12. 2021-08-06
    status Under Contract
13. 2021-07-28
    listed $149,900 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: $644 · $54/mo
• Projected year-2 tax: $2,199 · $183/mo
• Expected delta: +$1,555/yr (+$130/mo · 241.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,726
• − Mortgage interest: −$13,388
• − Property taxes: −$644
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$6,953
• Taxable loss: −$9,810
• Est. tax savings @ 24.0%: +$2,354
• After-tax cash flow: $-2,891/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 — Yatesville

• Score: 61/100
• State rank: #353
• US rank: #18162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,664

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 Black (59%)
• Race & ethnicity: Black 59% White 39% Hispanic / Latino 2% Two or more races 1%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 2%

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: ▲ 4.50%
• Current HPI: 207.427
• 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

+59.4% since first listed

15 events — show timeline

• 2026-05-22 Pending — GAMLS
• 2026-05-22 Listed $239,000 GAMLS
• 2026-05-13 Coming Soon $239,000 GAMLS
• 2024-05-21 Sold (Public Records) $50,000 Public Records
• 2021-10-26 Listing Removed — GAMLS
• 2021-10-10 Relisted — GAMLS
• 2021-10-07 Listing Removed — GAMLS
• 2021-10-05 Pending — GAMLS
• 2021-09-21 Pending — GAMLS
• 2021-09-01 Price Changed $144,900 GAMLS
• 2021-08-28 Relisted — GAMLS
• 2021-08-28 Listing Removed — GAMLS
• 2021-08-27 Relisted — GAMLS
• 2021-08-06 Pending — GAMLS
• 2021-07-28 Listed $149,900 GAMLS

Property tax history

+2.4%/yr

Latest (2025): $644 · -5.2% YoY. Source: county tax records.