1000 Mallery Street Ext Unit N47 · St. Simons, GA 31522

$409,900

2 bd · 2.5 ba · 1,112 sqft · Townhouse public records · 52 Days on market

Built 1984 $369/sqft · 49% above area Est $397k · at est. $390/mo HOA · 12% of rent

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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).

• Cash flow +10.2/30.0
• ARV discount +6.0/15.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• 1% rule +3.0/10.0
• DSCR +2.9/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy coastal living in this beautifully maintained 3-bedroom, 2.5-bath condo, perfectly situated in a prime yet peaceful location at the quiet end of Mallery Street in Mallery Villas. Tucked away from the hustle while still just a short stroll to the pier, ocean, parks, and local dining, this home offers the best of both convenience and tranquility. Ideal as a primary residence or a relaxing second home, the community's 30-day minimum rental policy helps preserve a more residential, low-turnover atmosphere. Inside, the thoughtfully designed floor plan features durable hardwood flooring throughout the spacious main living area, with tile in the kitchen, dining space, half bath, and sunroom—perfect for low-maintenance coastal living. The kitchen is well-appointed with granite countertops and stainless steel appliances, opening seamlessly into the dining area and sunroom for easy entertaining. Upstairs, you'll find all three bedrooms, including a bright and airy primary suite with cathedral ceilings that create an open, inviting retreat. Two full bathrooms and a convenient upstairs laundry room add to the home's functionality. Fresh paint throughout enhances the clean, move-in-ready feel, while abundant storage ensures everything has its place. Whether you're looking for a full-time residence or a coastal getaway, this condo combines comfort, location, and lifestyle in one exceptional offering.

Key facts

• Tile in the kitchen
• Granite countertops
• Prime location

Tags

• PRIME LOCATION
• QUIET END OF MALLERY STREET
• SHORT STROLL TO THE PIER
• DURABLE HARDWOOD FLOORING
• TILE IN THE KITCHEN
• GRANITE COUNTERTOPS

Property features AI

Finance

• Other: Located in Mallory Villas Condos; Unit N47; Listing accepts Cash, Conventional, FHA
• HOA & community: Association present; annual fee covers insurance, grounds maintenance, pest control, reserve fund, trash, and water

Exterior

• Parking: Assigned parking (2 total)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Attached townhouse (house structure); Resale property; Built in 1984; Composition roof; Stucco construction
• Construction: Stucco exterior; Composition roof; Built in 1984
• Exterior features: Patio; In-ground pool; Pool house; City lot; Level lot; Sidewalks; Street lights; Walk-to-schools; Near shopping

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom; 3 total bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Walk-in closet(s); Den; No basement; Two levels; 2+ common walls
• Laundry & utility: Washer included; Laundry in hall; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $410k.

Deal economics

• At list price, monthly cash flow is $-234 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $368k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $329k (19.7% below list).
• Recommended offer: $329k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 1.7% in St. Simons — 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: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Glynn County (other): math 37% / reading 42% proficiency, ranked #47 of 174 in GA (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Glynn Middle (math 42% / reading 58%, grade C, #68 of 470 statewide, top 15%, 815 students, 51% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: Rents rising (+2.3%/yr); 577 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 734 units permitted in Glynn County in 2024 (136 in 5+ unit buildings).
• This rent runs 36% of the median local income ($109k/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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Glynn County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($398k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $289k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $329,125 (19.7% 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. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.80% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.45%
• DSCR: 0.89
• GRM: 10.4

CMA / ARV

• ARV (median comp): $396,601
• List price: $409,900
• Delta: 3.35%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1000 Mallery Street Ext Unit J77	0.02mi	2/1.5	1,126 (+1%)	2mo	$395,000	$351	91
1000 Mallery Street Ext Unit G62	0.02mi	2/1.5	1,126 (+1%)	6mo	$350,000	$311	88
104 Courtyard Villas Unit C7	0.12mi	2/1.5	1,056 (-5%)	2mo	$360,000	$341	80
850 Mallery St Unit 4 building O	0.31mi	2/1.5	1,092 (-2%)	3mo	$375,000	$343	76
850 Mallery St Unit S 3	0.22mi	3/2.0 (+1)	1,144 (+3%)	6mo	$454,000	$397	73
104 Courtyard Villas Ln Unit A1	0.15mi	2/1.5	1,056 (-5%)	10mo	$343,000	$325	72
618 Harbour Oaks Dr #618	0.43mi	2/2.0	1,109 (-0%)	10mo	$560,000	$505	69
235 Island Dr	0.21mi	2/2.0	1,024 (-8%)	8mo	$369,000	$360	68
306 Harbour Oaks Dr	0.67mi	2/2.0	1,109 (-0%)	3mo	$525,000	$473	64
1500 Demere Rd Unit A7	0.59mi	2/1.5	1,088 (-2%)	2mo	$316,000	$290	63
425 Magnolia Ave Unit J	0.63mi	2/1.5	1,024 (-8%)	1mo	$430,000	$420	53
425 Magnolia Ave Unit C	0.63mi	2/1.5	1,024 (-8%)	4mo	$395,000	$386	50

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 · 2.26% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.27×
• Total profit: $-83,736
• Equity at exit: $61,117

10-year hold

• IRR: -16.4%
• Equity multiple: 0.11×
• Total profit: $-101,772
• Equity at exit: $35,441

Cash invested: $114,772 (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 31522

• Rents YoY: 2.3%
• Active inventory: 577
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $3,291 medium
• Mortgage (P&I): −$2,150
• Tax from tax record: −$124 /mo · $1,490/yr
• Insurance: −$171
• HOA: −$390
• Vacancy / Maint / Mgmt: −$691
• Net cashflow: $-234

Break-even live

Break-even rent $3,588

Max offer price $368,483

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: $102,475
• Closing costs: $12,297
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
372 Moss Oak Cir St Simons Island, GA	3.0	2.0	1355	$4,250	$3.14	43d	1	1.01mi
1704 Frederica Rd #426 Saint Simons Island, GA	2.0	2.0	1150	$2,150	$1.87	43d	1	1.19mi
122 Shady Brook Cir #100 Saint Simons Island, GA	3.0	2.0	1500	$4,950	$3.30	43d	1	1.30mi

HOA detail

• Monthly dues: $390 · $4,680/yr

Listing history 29 events

1. 2026-06-19
   days on market $409,900 Active 52 DOM
2. 2026-06-18
   days on market $409,900 Active 51 DOM
3. 2026-06-17
   days on market $409,900 Active 50 DOM
4. 2026-06-16
   days on market $409,900 Active 49 DOM
5. 2026-06-15
   days on market $409,900 Active 48 DOM
6. 2026-06-14
   days on market $409,900 Active 46 DOM
7. 2026-06-13
   days on market $409,900 Active 45 DOM
8. 2026-06-10
   days on market $409,900 Active 43 DOM
9. 2026-06-09
   days on market $409,900 Active 42 DOM
10. 2026-06-08
    days on market $409,900 Active 41 DOM
11. 2026-06-07
    days on market $409,900 Active 40 DOM
12. 2026-06-05
    days on market $409,900 Active 37 DOM
13. 2026-06-03
    days on market $409,900 Active 36 DOM
14. 2026-06-02
    days on market $409,900 Active 35 DOM
15. 2026-06-01
    days on market $409,900 Active 34 DOM
16. 2026-05-31
    statusdays on market $409,900 Active 33 DOM
17. 2026-05-30
    days on market $409,900 Price Change 32 DOM
18. 2026-04-23
    listed $419,900 New 1429-char remark

    Show marketing remark (1431 chars)

    Welcome to easy coastal living in this beautifully maintained 3-bedroom, 2.5-bath condo, perfectly situated in a prime yet peaceful location at the quiet end of Mallery Street in Mallery Villas. Tucked away from the hustle while still just a short stroll to the pier, ocean, parks, and local dining, this home offers the best of both convenience and tranquility. Ideal as a primary residence or a relaxing second home, the community's 30-day minimum rental policy helps preserve a more residential, low-turnover atmosphere. Inside, the thoughtfully designed floor plan features durable hardwood flooring throughout the spacious main living area, with tile in the kitchen, dining space, half bath, and sunroom—perfect for low-maintenance coastal living. The kitchen is well-appointed with granite countertops and stainless steel appliances, opening seamlessly into the dining area and sunroom for easy entertaining. Upstairs, you'll find all three bedrooms, including a bright and airy primary suite with cathedral ceilings that create an open, inviting retreat. Two full bathrooms and a convenient upstairs laundry room add to the home's functionality. Fresh paint throughout enhances the clean, move-in-ready feel, while abundant storage ensures everything has its place. Whether you're looking for a full-time residence or a coastal getaway, this condo combines comfort, location, and lifestyle in one exceptional offering.

19. 2026-04-23
    listed $419,900 Active 1453-char remark

    Show marketing remark (1431 chars)

    Welcome to easy coastal living in this beautifully maintained 3-bedroom, 2.5-bath condo, perfectly situated in a prime yet peaceful location at the quiet end of Mallery Street in Mallery Villas. Tucked away from the hustle while still just a short stroll to the pier, ocean, parks, and local dining, this home offers the best of both convenience and tranquility. Ideal as a primary residence or a relaxing second home, the community's 30-day minimum rental policy helps preserve a more residential, low-turnover atmosphere. Inside, the thoughtfully designed floor plan features durable hardwood flooring throughout the spacious main living area, with tile in the kitchen, dining space, half bath, and sunroom—perfect for low-maintenance coastal living. The kitchen is well-appointed with granite countertops and stainless steel appliances, opening seamlessly into the dining area and sunroom for easy entertaining. Upstairs, you'll find all three bedrooms, including a bright and airy primary suite with cathedral ceilings that create an open, inviting retreat. Two full bathrooms and a convenient upstairs laundry room add to the home's functionality. Fresh paint throughout enhances the clean, move-in-ready feel, while abundant storage ensures everything has its place. Whether you're looking for a full-time residence or a coastal getaway, this condo combines comfort, location, and lifestyle in one exceptional offering.

20. 2021-06-03
    soldstatus $289,000
21. 2021-06-01
    soldstatus $289,000

    Show marketing remark (938 chars)

    Located just a mile from the lively pier village on St. Simons Island, this 3 bedroom, 2.5 bathroom condo is just the right place to be if you are looking to call the Island your home! Downstairs features an updated living, dining and kitchen area, as well as a screened-in porch to enjoy the cozy and cute backyard. Upstairs offers 3 bedrooms and 2 full bathrooms. Storage abounds throughout the entire condo. Plenty of storage for bikes and other beach gear. Updates can be seen throughout: wood flooring, beautiful cabinetry and countertops in the kitchen, stainless appliances, updated bathroom fixtures, etc. This condo is being sold fully furnished, and has a strong rental history. There is a 30 day minimum rental period so many residence are full-timers. Beaches, parks, shops and restaurants close by. If you are looking to be apart of the "fun" that St. Simons Island has to offer, this location really is excellent!

22. 2021-03-18
    listed $299,900

    Show marketing remark (938 chars)

    Located just a mile from the lively pier village on St. Simons Island, this 3 bedroom, 2.5 bathroom condo is just the right place to be if you are looking to call the Island your home! Downstairs features an updated living, dining and kitchen area, as well as a screened-in porch to enjoy the cozy and cute backyard. Upstairs offers 3 bedrooms and 2 full bathrooms. Storage abounds throughout the entire condo. Plenty of storage for bikes and other beach gear. Updates can be seen throughout: wood flooring, beautiful cabinetry and countertops in the kitchen, stainless appliances, updated bathroom fixtures, etc. This condo is being sold fully furnished, and has a strong rental history. There is a 30 day minimum rental period so many residence are full-timers. Beaches, parks, shops and restaurants close by. If you are looking to be apart of the "fun" that St. Simons Island has to offer, this location really is excellent!

23. 2019-08-02
    soldstatus $268,000
24. 2019-07-31
    soldstatus $268,000
25. 2019-06-01
    listed $275,000
26. 2017-06-05
    soldstatus $240,000
27. 2017-05-26
    soldstatus $240,000
28. 2017-01-05
    listed $250,000
29. 2005-05-27
    soldstatus $213,000

ⓘ 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: $1,490 · $124/mo
• Projected year-2 tax: $3,771 · $314/mo
• Expected delta: +$2,281/yr (+$190/mo · 153.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 54% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,495
• − Mortgage interest: −$22,961
• − Property taxes: −$1,490
• − Insurance: −$2,050
• − Repairs & maintenance: −$3,160
• − Management: −$3,160
• − HOA: −$4,680
• − Depreciation: −$11,924
• Taxable loss: −$9,929
• Est. tax savings @ 24.0%: +$2,383
• After-tax cash flow: $-430/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: Glynn County
• NCES district ID: 1302400
• Math proficiency: 37% ▼ -9.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $47,554
• Composite: 33.83/100
• National rank: #5359
• State rank: #47 of 174 in GA

Livability — St. Simons

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Simons, GA
• County: Glynn County · 69,019 people
• Metro: Brunswick, GA
• Population (ZIP): 17,780
• Household income: $108,632
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 339.0

Population outlook (Glynn County) Hauer SSP2

• Today (2025): 91,404 people
• By 2030: 94,806 · +3.7%
• By 2040: 100,060 · +9.5%
• By 2050: 103,258 · +13.0%
• By 2075: 107,970 · +18.1%
• By 2100: 103,363 · +13.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Slovak 5% Italian 3% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Glynn

• 2024 margin: Strong R (+26.0) · D 36.8% · R 62.8%
• 2008→2024 swing: -2.6pp toward R · 2008: -23.4pp · 2024: -26.0pp
• All cycles: 2024: R+26.0 2020: R+23.2 2016: R+28.6 2012: R+27.0 2008: R+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -564.58%
• Current HPI: 191.6942
• Rent YoY: ▲ 2.26%
• Metro: Brunswick, 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

+92.4% since first listed

14 events — show timeline

• 2026-05-28 Price Changed $409,900 GAMLS
• 2026-05-27 Price Changed $409,900 GIAR
• 2026-04-23 Listed $419,900 GIAR
• 2026-04-23 Listed $419,900 GAMLS
• 2021-06-03 Sold (Public Records) $289,000 Public Records
• 2021-06-01 Sold (MLS) $289,000 GIAR
• 2021-03-18 Listed $299,900 GIAR
• 2019-08-02 Sold (Public Records) $268,000 Public Records
• 2019-07-31 Sold (MLS) $268,000 GIAR
• 2019-06-01 Listed $275,000 GIAR
• 2017-06-05 Sold (Public Records) $240,000 Public Records
• 2017-05-26 Sold (MLS) $240,000 GIAR
• 2017-01-05 Listed $250,000 GIAR
• 2005-05-27 Sold (Public Records) $213,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,490 · +0.0% YoY. Source: county tax records.