104 Red Bud Ct · Dock Junction, GA 31520

$119,000

3 bd · 2.0 ba · 1,235 sqft · Condo public records · 13 Days on market

Built 2002 $280/mo HOA · 17% of rent

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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 +25.8/30.0
• 1% rule +9.2/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This unit is mint! Has new carpet, and is freshly painted throughout. Vacant with immediate occupancy.

Key facts

• $280 HOA
• 2 parking spots
• Built 2002

Property features AI

Finance

• HOA & community: Homeowners association (Azalea Place Condominium Association); Monthly association fee of $280; Association provides management

Exterior

• Parking: Has carport with 2 spaces; Paved parking
• Utilities: Public water
• Home design: Condo zoning; Has property attached
• Construction: Brick construction; Shingle roof; Slab foundation
• Exterior features: Porch; Asphalt road surface; Property currently used as residential

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Has cooling
• Interior features: Unfurnished; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Cap rate 9.2% vs local median 3.6% in Dock Junction — 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 62/100 on livability (#298 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• 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.
• Market conditions: Rents rising fast (+5.1%/yr); 183 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 734 units permitted in Glynn County in 2024 (136 in 5+ unit buildings).
• At $1,692/mo this rent would consume 51% of the median local household income ($40k/yr) (locally 1406% 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 $823 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 24y 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.

Risks & watch-outs

• Climate carrying-cost: 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 $119,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.44%
• DSCR: 1.46
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.08% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $2,960
• Equity at exit: $17,743

10-year hold

• IRR: 14.2%
• Equity multiple: 2.28×
• Total profit: $42,496
• Equity at exit: $10,289

Cash invested: $33,320 (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 31520

• Rents YoY: 5.1%
• Active inventory: 183
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,692 high
• Mortgage (P&I): −$624
• Tax from tax record: −$93 /mo · $1,118/yr
• Insurance: −$50
• HOA: −$280
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $290

Break-even live

Break-even rent $1,325

Max offer price $119,000

Occupancy floor 78%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Coastal Club Cir Brunswick, GA	2.0	2.0	1153	$1,314	$1.14	43d	5	0.40mi
294 Windridge Dr Brunswick, GA	3.0	2.0	1430	$1,600	$1.12	43d	1	0.57mi
500 Beverly Villas Dr Brunswick, GA	2.0	2.0	1336	$1,712	$1.28	43d	4	0.57mi
5600 Altama Ave Brunswick, GA	2.0	1.0	750	$1,175	$1.57	43d	3	0.94mi
3200 Cypress Mill Rd Brunswick, GA	2.0–3.0	2.0	1168	$1,485	$1.27	7d	13	1.11mi
1105 Fountain Lake Dr Brunswick, GA	2.0–3.0	2.0–2.5	1157	$1,575	$1.36	2d	6	1.33mi
111 S Palm Dr Brunswick, GA	1.0–3.0	1.0–2.0	1077	$1,589	$1.48	43d	11	1.46mi
2640 Canary Dr Brunswick, GA	4.0	2.0	1450	$2,200	$1.52	43d	1	1.49mi
3742 Ogg Ave Brunswick, GA	2.0	1.0	797	$1,250	$1.57	43d	1	1.49mi

HOA detail condo

• Monthly dues: $280 · $3,360/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-05
   statusdays on market $119,000 Pending 13 DOM
2. 2026-06-03
   days on market $119,000 Active 12 DOM
3. 2026-06-02
   days on market $119,000 Active 11 DOM
4. 2026-06-01
   days on market $119,000 Active 10 DOM
5. 2026-05-31
   days on market $119,000 Active 9 DOM
6. 2026-05-30
   days on market $119,000 Active 8 DOM
7. 2026-05-21
   listed $119,000 Active
8. 2009-01-31
   historical
9. 2006-07-25
   soldstatus $105,000 102-char remark

   Show marketing remark (102 chars)

   This unit is mint! Has new carpet, and is freshly painted throughout. Vacant with immediate occupancy.

10. 2006-02-08
    listed $105,000 102-char remark

    Show marketing remark (102 chars)

    This unit is mint! Has new carpet, and is freshly painted throughout. Vacant with immediate occupancy.

11. 2004-10-12
    soldstatus $112,500
12. 2004-09-08
    listed $116,500
13. 2002-06-21
    listed $100,000

ⓘ 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: $1,118 · $93/mo
• Projected year-2 tax: $1,118 · $93/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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,304
• − Mortgage interest: −$6,666
• − Property taxes: −$1,118
• − Insurance: −$595
• − Repairs & maintenance: −$1,624
• − Management: −$1,624
• − HOA: −$3,360
• − Depreciation: −$3,462
• Taxable income: $1,855
• Est. tax owed @ 24.0%: −$445
• After-tax cash flow: $3,034/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 — Dock Junction

• Score: 62/100
• State rank: #298
• US rank: #16233

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dock Junction, GA
• County: Glynn County · 69,019 people
• Metro: Brunswick, GA
• Population (ZIP): 22,313
• Household income: $40,071
• Rent vs Own: 54.5% rent · 45.5% own
• Severe rent burden: 1406.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Black 50% White 33% Hispanic / Latino 11% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 10% French/Haitian/Cajun 1% Korean 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: ▼ -274.83%
• Current HPI: 180.4581
• Rent YoY: ▲ 5.08%
• 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

+19.0% since first listed

7 events — show timeline

• 2026-05-21 Listed $119,000 GIAR
• 2009-01-31 Listing Removed — GIAR
• 2006-07-25 Sold (MLS) $105,000 GIAR
• 2006-02-08 Listed $105,000 GIAR
• 2004-10-12 Sold (MLS) $112,500 GIAR
• 2004-09-08 Listed $116,500 GIAR
• 2002-06-21 Listed $100,000 GIAR

Property tax history

+7.4%/yr

Latest (2025): $1,118 · -0.0% YoY. Source: county tax records.