215 E 2nd St NE · Rome, GA 30161

$135,000

2 bd · 1.0 ba · 784 sqft · SingleFamily · 5 Days on market

Built 1940 7,840 sqft lot Est $132k · at est.

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Why this score? — see what drove the C 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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +6.6/15.0
• 1% rule +6.2/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 2-bedroom, 1-bath home in Shannon Village! Fresh interior wall paint, hardwood floors, high ceilings, and a cozy layout give this home a warm & inviting feel from the moment you walk in. The kitchen and bathroom feature tile flooring, while the fully fenced yard offers plenty of space for pets, entertaining, or simply relaxing outdoors. Whether you're a first-time homebuyer, downsizing, or looking for an easy-to-maintain home, this move-in ready property is full of charm and ready for you to make it your own! All information deemed reliable but buyer to verify.

Key facts

• Interior wall paint
• Tile flooring
• High ceilings

Tags

• INTERIOR WALL PAINT
• HARDWOOD FLOORS
• HIGH CEILINGS
• TILE FLOORING
• FULLY FENCED YARD

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Off-street parking; Parking pad; Open parking
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Sewer available; Water available; Other utilities
• Home design: Single-family residence; House (resale)
• Construction: Built in 1940; Vinyl siding; Tin roof
• Exterior features: Level lot; Other lot features

Interior

• Kitchen: Dishwasher; Refrigerator; Gas water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Hardwood; Tile; Other
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating (natural gas); Central air conditioning; Ceiling fan(s); Electric cooling
• Interior features: One-level home; Family room; Crawl space foundation
• Laundry & utility: Washer and dryer included; Mud room; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 8.6% vs local median 3.3% in Rome — 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 64/100 on livability (#266 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Rome City (urban): math 27% / reading 29% proficiency, ranked #112 of 174 in GA (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.3%/yr); 411 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 355 units permitted in Floyd County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Floyd County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F 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. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.21%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $132,496
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Mary St SW	0.50mi	2/2.0	808 (+3%)	16mo	$85,000	$105	54
515 Harper Ave SW	0.72mi	2/1.0	888 (+13%)	1mo	$150,000	$169	43

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 · 6.28% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-235
• Equity at exit: $20,129

10-year hold

• IRR: 12.6%
• Equity multiple: 2.16×
• Total profit: $43,674
• Equity at exit: $11,672

Cash invested: $37,800 (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 30161

• Rents YoY: 6.3%
• Active inventory: 411
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,508 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $259

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 78%

Sensitivity live

Price	-10% $352	-5% $305	+0% $259	+5% $212	+10% $165
Rent	-10% $140	-5% $199	+0% $259	+5% $318	+10% $378
Rate	-1.0pp $327	-0.5pp $293	base $259	+0.5pp $224	+1.0pp $188

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
340 W 3rd St Rome, GA	2.0	1.0–2.0	804	$2,225	$2.77	44d	27	0.39mi
1 Fair St SW Unit A Rome, GA	1.0	1.0	722	$1,200	$1.66	44d	1	0.62mi
400 McDonald St NW Rome, GA	1.0	1.0	950	$1,400	$1.47	44d	1	1.02mi
525 W 13th St NE Rome, GA	2.0–3.0	2.0	1059	$1,349	$1.27	44d	12	1.14mi
331 S McLin St SW Rome, GA	3.0	1.0	1108	$1,250	$1.13	44d	1	1.19mi
1 Roseway Cir NE Rome, GA	2.0	1.0	875	$1,200	$1.37	44d	1	1.30mi

Listing history 6 events

1. 2026-06-03
   status $135,000 Under Contract 5 DOM
2. 2026-06-02
   days on market $135,000 New 5 DOM
3. 2026-06-01
   days on market $135,000 New 4 DOM
4. 2026-05-31
   days on market $135,000 New 3 DOM
5. 2026-05-30
   days on market $135,000 New 2 DOM
6. 2026-04-29
   listed $135,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,101
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − Depreciation: −$3,927
• Taxable income: $1,015
• Est. tax owed @ 24.0%: −$244
• After-tax cash flow: $2,861/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: Rome City
• NCES district ID: 1304440
• Math proficiency: 27% ▼ -14.00%
• Reading proficiency: 29% ▼ -4.00%
• Median HH income: $34,889
• Composite: 23.1/100
• National rank: #7963
• State rank: #112 of 174 in GA

Livability — Rome

• Score: 64/100
• State rank: #266
• US rank: #14459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rome, GA
• County: Floyd County · 77,706 people
• City population: 77,706
• Metro: Rome, GA
• Population (ZIP): 34,705
• Household income: $61,667
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 1104.0

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 96,321 people
• By 2030: 95,532 · -0.8%
• By 2040: 93,332 · -3.1%
• By 2050: 90,850 · -5.7%
• By 2075: 84,989 · -11.8%
• By 2100: 76,097 · -21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 20% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Floyd

• 2024 margin: Solid R (+42.0) · D 28.8% · R 70.7%
• 2008→2024 swing: -5.6pp toward R · 2008: -36.4pp · 2024: -42.0pp
• All cycles: 2024: R+42.0 2020: R+41.1 2016: R+43.5 2012: R+39.9 2008: R+36.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -186.06%
• Current HPI: 257.8168
• Rent YoY: ▲ 6.28%
• Metro: Rome, 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

1 event — show timeline

• 2026-04-29 Listed $135,000 GAMLS