4664 Georgia Highway 37 W · Funston, GA 31768

$68,000

3 bd · 1.0 ba · 1,632 sqft · SingleFamily public records · 39 Days on market

Built 1960 1,580 ac lot $42/sqft · 63% below area ↓ 15% since listing

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Why this score? — see what drove the B- 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Attention Investors, builders, and visionaries! This property presents a prime opportunity for a full renovation or potential tear-down and new construction. Situated on a generously sized, tree-lined lot, the value here is in the land and location! The existing structure is in poor condition and will require significant repairs or removal. Interior show extensive deferred maintenance, debris, and likely system deficiencies. Property is being sold as-is, where-is, with no disclosures, Cash or renovation financing only - will not qualify for conventional financing.

Key facts

• New construction
• Value in the land
• Full renovation

Tags

• FULL RENOVATION
• NEW CONSTRUCTION
• TREE-LINED LOT
• VALUE IN THE LAND

Property features AI

Finance

• Other: Large lot: 1,580 acres (lot size source: appraiser)
• Financial info: Listing terms include cash and other
• HOA & community: No association

Exterior

• Parking: No designated parking
• Utilities: Well water; Septic tank; Electricity available on property
• Home design: Single-family house; Residential property; One story; Fixer / resale condition
• Construction: Vinyl siding; Built in 1960; Other roof
• Exterior features: Level, open lot

Interior

• Kitchen: Country kitchen; Appliances: Other
• Bedrooms: 3 bedrooms on the main level
• Flooring: Tile flooring; Laminate flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric heating; Electric cooling
• Interior features: One-level living; Living area reported by appraiser; Dining room and living room combined; Country-style kitchen; No basement; Other interior features
• Laundry & utility: Laundry in hall; Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $799 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Recommended offer: $66k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 53/100 on livability (#557 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B+; Watch: amenities F, commute F, employment F.
• Colquitt County (town): math 29% / reading 25% proficiency, ranked #117 of 174 in GA (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Funston Elementary School (math 42% / reading 27%, grade F, #531 of 1,228 statewide, top 45%, 386 students, 97% FRL); Willie J. Williams Middle School (math 25% / reading 24%, grade F, #301 of 470 statewide, top 66%, 1,369 students, 85% FRL); Colquitt County High School (math 50% / reading 18%, grade F, #98 of 424 statewide, top 23%, 1,787 students, 64% FRL) — zoned schools average 82% FRL vs 67% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 139 active listings in the ZIP; 94 units permitted in Colquitt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Colquitt County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $58k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,960 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 2.31% ✓
• Cap rate: 20.40%
• Cash-on-cash: 50.36%
• DSCR: 3.24
• GRM: 3.6

CMA / ARV

• ARV (median comp): $185,390
• List price: $68,000
• Delta: -63.32%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 48.1%
• Equity multiple: 3.09×
• Total profit: $39,883
• Equity at exit: $10,139

10-year hold

• IRR: 53.7%
• Equity multiple: 6.27×
• Total profit: $100,288
• Equity at exit: $5,879

Cash invested: $19,040 (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 31768

• Home prices YoY: -33.0%
• Active inventory: 139
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,569 medium
• Mortgage (P&I): −$357
• Tax from tax record: −$55 /mo · $663/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $799

Break-even live

Break-even rent $557

Max offer price $68,000

Occupancy floor 44%

Sensitivity live

Price	-10% $838	-5% $818	+0% $799	+5% $780	+10% $761
Rent	-10% $675	-5% $737	+0% $799	+5% $861	+10% $923
Rate	-1.0pp $833	-0.5pp $816	base $799	+0.5pp $781	+1.0pp $764

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-01
   status $68,000 Under Contract 39 DOM
2. 2026-06-01
   days on market $68,000 Active 39 DOM
3. 2026-05-31
   days on market $68,000 Active 38 DOM
4. 2026-05-31
   days on market $68,000 Active 37 DOM
5. 2026-04-23
   listed $68,000 New 572-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: $663 · $55/mo
• Projected year-2 tax: $663 · $55/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,824
• − Mortgage interest: −$3,809
• − Property taxes: −$663
• − Insurance: −$340
• − Repairs & maintenance: −$1,506
• − Management: −$1,506
• − Depreciation: −$1,978
• Taxable income: $9,023
• Est. tax owed @ 24.0%: −$2,165
• After-tax cash flow: $7,424/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: Colquitt County
• NCES district ID: 1301380
• Math proficiency: 29% ▼ -7.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $32,950
• Composite: 22.11/100
• National rank: #8176
• State rank: #117 of 174 in GA

Livability — Funston

• Score: 53/100
• State rank: #557
• US rank: #24535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 55
• Population (ZIP): 21,281

Population outlook (Colquitt County) Hauer SSP2

• Today (2025): 46,043 people
• By 2030: 45,757 · -0.6%
• By 2040: 44,929 · -2.4%
• By 2050: 43,901 · -4.7%
• By 2075: 40,831 · -11.3%
• By 2100: 37,986 · -17.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 51% Black 33% Hispanic / Latino 14% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1% Cuban 2%
• Common ancestry: Serbian 1% Italian 1% Lithuanian 1%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Spanish 13% German/W. Germanic 1%

Political lean MEDSL · Colquitt

• 2024 margin: Solid R (+50.2) · D 24.8% · R 75.0%
• 2008→2024 swing: -12.6pp toward R · 2008: -37.6pp · 2024: -50.2pp
• All cycles: 2024: R+50.2 2020: R+47.2 2016: R+47.3 2012: R+39.6 2008: R+37.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.21%
• Current HPI: 188.988
• 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

-14.7% since first listed

3 events — show timeline

• 2026-06-01 Pending — GAMLS
• 2026-05-21 Sold (MLS) $58,000 GAMLS
• 2026-04-23 Listed $68,000 GAMLS

Property tax history

+2.1%/yr

Latest (2025): $663 · +0.7% YoY. Source: county tax records.