121 Kenwood Dr · Athens-Clarke County unified government (balance), GA 30601

$185,000

5 bd · 2.0 ba · 1,984 sqft · SingleFamily public records · 13 Days on market

Built 1976 0.44 ac lot Est $351k · 47% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this incredible opportunity in the heart of Athens! This spacious 3-bedroom, 2-bath ranch sits on a large, private lot in the established Greenmont community--perfect for homeowners or savvy investors looking to add value. Featuring over 2,400 sq ft of potential, this home offers a functional layout, generous living spaces, and abundant natural light throughout. Enjoy a peaceful, wooded backyard ideal for relaxing or entertaining, all while being just minutes from downtown Athens, UGA, shopping, dining, and more. Whether you're looking to create your dream home or your next investment success, this property is full of possibilities. Sold As-Is--bring your vision and unlock its full potential!

Key facts

• Wooded backyard
• Greenmont community
• 0.44 acre lot

Tags

• GREENMONT COMMUNITY
• WOODED BACKYARD
• MINUTES FROM DOWNTOWN ATHENS

Property features AI

Finance

• Other: Located in Greenmont subdivision

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Single family residence; Two levels / 2 stories
• Construction: Brick and vinyl siding exterior; Asphalt roof; Slab foundation; Built — year not provided
• Exterior features: Deck; Has view

Interior

• Kitchen: Dishwasher
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 3 full bathrooms (2 on the main level)
• Heating & cooling: Central heating; Electric heating; Heat pump; Central electric air conditioning
• Interior features: Dishwasher; Electric water heater; Accessible full bathroom; Has view
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Cap rate 13.6% vs local median 3.4% in Athens-Clarke County unified government (balance) — 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 B — affects rentability + tenant quality, not the cash-flow math above.
• Clarke County (urban): math 17% / reading 21% proficiency, ranked #146 of 174 in GA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fowler Drive Elementary School (math 12% / reading 12%, grade F, #1,041 of 1,228 statewide, top 87%, 388 students, 83% FRL); Coile Middle School (math 6% / reading 11%, grade F, #439 of 470 statewide, top 94%, 635 students, 83% FRL); Cedar Shoals High School (1,443 students, 83% FRL).
• Market conditions: Rents rising (+3.9%/yr); 116 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,172 units permitted in Clarke County in 2024 (876 in 5+ unit buildings).
• At $3,022/mo this rent would consume 92% of the median local household income ($39k/yr) (locally 3108% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Clarke County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $52k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts 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 $94k; list at $185k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,000

Questions for the listing agent

1. Built in 1976 — 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. 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.
4. 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.
5. 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: 1.63% ✓
• Cap rate: 13.61%
• Cash-on-cash: 26.12%
• DSCR: 2.16
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $351,168
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
265 Freeman Dr	0.09mi	4/3.0 (-1)	1,756 (-12%)	8mo	$309,990	$177	60
265 Freeman Dr	0.12mi	4/3.0 (-1)	1,756 (-12%)	8mo	$309,990	$177	59

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 · 3.86% rent growth · sell at horizon

5-year hold

• IRR: 20.8%
• Equity multiple: 1.86×
• Total profit: $44,504
• Equity at exit: $27,584

10-year hold

• IRR: 29.6%
• Equity multiple: 3.75×
• Total profit: $142,371
• Equity at exit: $15,995

Cash invested: $51,800 (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 30601

• Rents YoY: 3.9%
• Active inventory: 116
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,022 high
• Mortgage (P&I): −$970
• Tax from tax record: −$212 /mo · $2,549/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $1,127

Break-even live

Break-even rent $1,594

Max offer price $185,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,232	-5% $1,180	+0% $1,127	+5% $1,075	+10% $1,023
Rent	-10% $889	-5% $1,008	+0% $1,127	+5% $1,247	+10% $1,366
Rate	-1.0pp $1,221	-0.5pp $1,175	base $1,127	+0.5pp $1,080	+1.0pp $1,031

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
136 Bridgewater Cir Athens, GA	5.0	3.0	1800	$2,900	$1.61	45d	1	0.91mi
354 Bridgewater Cir Athens, GA	5.0	3.0	1800	$3,200	$1.78	45d	1	0.98mi
124 Fern Ridge Ct Athens, GA	5.0	3.0	1800	$3,000	$1.67	45d	1	1.06mi
110 Conrad Dr Athens, GA	4.0	3.0	1760	$2,400	$1.36	45d	1	1.21mi
125 Hobson Ave Unit 2 Athens, GA	4.0	4.5	1709	$2,800	$1.64	45d	1	1.33mi
157 Strickland Ave Athens, GA	5.0	5.0	2028	$3,000	$1.48	45d	1	1.40mi
184 Strickland Ave Athens, GA	4.0	4.5	1728	$2,800	$1.62	23d	1	1.42mi

Listing history 18 events

1. 2026-06-10
   status $185,000 Pending 13 DOM
2. 2026-06-09
   days on market $185,000 Active 13 DOM
3. 2026-06-08
   days on market $185,000 Active 12 DOM
4. 2026-06-07
   days on market $185,000 Active 11 DOM
5. 2026-06-02
   days on market $185,000 Active 6 DOM
6. 2026-06-01
   days on market $185,000 Active 5 DOM
7. 2026-05-31
   days on market $185,000 Active 4 DOM
8. 2026-05-30
   days on market $185,000 Active 3 DOM
9. 2026-05-27
   listed $185,000 Active 712-char remark

   Show marketing remark (710 chars)

   Don't miss this incredible opportunity in the heart of Athens! This spacious 3-bedroom, 2-bath ranch sits on a large, private lot in the established Greenmont community-perfect for homeowners or savvy investors looking to add value. Featuring over 2,400 sq ft of potential, this home offers a functional layout, generous living spaces, and abundant natural light throughout. Enjoy a peaceful, wooded backyard ideal for relaxing or entertaining, all while being just minutes from downtown Athens, UGA, shopping, dining, and more. Whether you're looking to create your dream home or your next investment success, this property is full of possibilities. Sold As-Is-bring your vision and unlock its full potential!

10. 2026-05-27
    listed $185,000 Active

    Show marketing remark (710 chars)

    Don't miss this incredible opportunity in the heart of Athens! This spacious 3-bedroom, 2-bath ranch sits on a large, private lot in the established Greenmont community-perfect for homeowners or savvy investors looking to add value. Featuring over 2,400 sq ft of potential, this home offers a functional layout, generous living spaces, and abundant natural light throughout. Enjoy a peaceful, wooded backyard ideal for relaxing or entertaining, all while being just minutes from downtown Athens, UGA, shopping, dining, and more. Whether you're looking to create your dream home or your next investment success, this property is full of possibilities. Sold As-Is-bring your vision and unlock its full potential!

11. 2026-05-27
    listed $185,000 New 710-char remark

    Show marketing remark (710 chars)

    Don't miss this incredible opportunity in the heart of Athens! This spacious 3-bedroom, 2-bath ranch sits on a large, private lot in the established Greenmont community-perfect for homeowners or savvy investors looking to add value. Featuring over 2,400 sq ft of potential, this home offers a functional layout, generous living spaces, and abundant natural light throughout. Enjoy a peaceful, wooded backyard ideal for relaxing or entertaining, all while being just minutes from downtown Athens, UGA, shopping, dining, and more. Whether you're looking to create your dream home or your next investment success, this property is full of possibilities. Sold As-Is-bring your vision and unlock its full potential!

12. 2026-03-26
    historical
13. 2026-03-26
    historical
14. 2026-03-03
    price $189,900
15. 2026-03-03
    price $189,900
16. 2026-01-07
    listed $199,000 New
17. 2026-01-07
    listed $199,000 Active
18. 2001-05-11
    soldstatus $94,000

ⓘ 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: $2,549 · $212/mo
• Projected year-2 tax: $2,549 · $212/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,260
• − Mortgage interest: −$10,363
• − Property taxes: −$2,549
• − Insurance: −$925
• − Repairs & maintenance: −$2,901
• − Management: −$2,901
• − Depreciation: −$5,382
• Taxable income: $11,240
• Est. tax owed @ 24.0%: −$2,698
• After-tax cash flow: $10,832/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: Clarke County
• NCES district ID: 1301170
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $33,649
• Composite: 15.51/100
• National rank: #9302
• State rank: #146 of 174 in GA

Livability — Athens-Clarke County unified government (balance)

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

Census & demographics

• Census place: Athens-Clarke County unified government (balance), GA
• County: Clarke County · 126,008 people
• City population: 119,110
• Metro: Athens-Clarke County, GA
• Population (ZIP): 25,899
• Household income: $39,219
• Rent vs Own: 67.9% rent · 32.1% own
• Severe rent burden: 3108.0

Population outlook (Clarke County) Hauer SSP2

• Today (2025): 141,365 people
• By 2030: 151,724 · +7.3%
• By 2040: 168,541 · +19.2%
• By 2050: 184,855 · +30.8%
• By 2075: 221,736 · +56.9%
• By 2100: 253,853 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 44% Black 35% Hispanic / Latino 17% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 10% Dominican 1%
• Common ancestry: Slovak 3% Italian 2% Romanian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 12% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Clarke

• 2024 margin: Solid D (+38.3) · D 68.6% · R 30.4% · Other 1.0%
• 2008→2024 swing: +7.0pp toward D · 2008: 31.3pp · 2024: 38.3pp
• All cycles: 2024: D+38.3 2020: D+42.1 2016: D+38.0 2012: D+28.9 2008: D+31.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -274.32%
• Current HPI: 280.2956
• Rent YoY: ▲ 3.86%
• Metro: Athens-Clarke County, 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

+96.8% since first listed

10 events — show timeline

• 2026-05-27 Listed $185,000 MGMLS
• 2026-05-27 Listed $185,000 Hive MLS
• 2026-05-27 Listed $185,000 GAMLS
• 2026-03-26 Listing Removed — FMLS
• 2026-03-26 Listing Removed — GAMLS
• 2026-03-03 Price Changed $189,900 FMLS
• 2026-03-03 Price Changed $189,900 GAMLS
• 2026-01-07 Listed $199,000 FMLS
• 2026-01-07 Listed $199,000 GAMLS
• 2001-05-11 Sold (Public Records) $94,000 Public Records

Property tax history

+13.0%/yr

Latest (2025): $2,549 · +7.5% YoY. Source: county tax records.