342 N Lake Dr · Perry, GA 31069

$160,000

3 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 41 Days on market

Built 1991 2.01 ac lot $133/sqft · 18% below area Est $195k · 18% 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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +6.4/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fixer-upper with over 2 acres of land on Lake Joy! How often can you find both waterfrontage and multiple acres in Houston County? Now is your chance to renovate your private lake getaway or your next unique flip opportunity. The lush landscape gives the property an excess of privacy and serenity, which is further accented by the peaceful water nearby. Schedule your viewing today. This sale includes the neighboring lot at 344 N Lake Dr. Sold As-is

Key facts

• Private lake getaway
• Over 2 acres of land
• Waterfrontage

Tags

• OVER 2 ACRES OF LAND
• WATERFRONTAGE
• PRIVATE LAKE GETAWAY
• LUSH LANDSCAPE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.5% in Perry — 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 68/100 on livability (#149 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Houston County (urban): math 43% / reading 46% proficiency, ranked #23 of 174 in GA (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 466 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,545 units permitted in Houston County in 2024 (336 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Houston County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $100k; list at $160k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); major wind risk, 78% 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 $155,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
7. 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.
8. 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.
9. 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: 1.14% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.97%
• DSCR: 1.53
• GRM: 7.3

CMA / ARV

• ARV (median comp): $194,950
• List price: $160,000
• Delta: -17.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
342 N Lake Dr	0.00mi	2/2.0 (-1)	1,200 (0%)	0mo	$135,000	$113	95
400 N Lake Dr	0.06mi	3/2.0	1,316 (+10%)	12mo	$225,000	$171	71
305 N Lake Dr	0.38mi	3/2.0	1,320 (+10%)	0mo	$236,000	$179	65
202 Woods Trl	0.29mi	3/1.0	1,325 (+10%)	1mo	$199,900	$151	64
144 Branch View Trail Trl	0.64mi	3/2.0	1,224 (+2%)	9mo	$199,900	$163	59
207 Annas Way	0.44mi	3/2.0	1,121 (-7%)	14mo	$178,000	$159	57
436 Courtney Ln	0.26mi	3/1.0	1,025 (-15%)	4mo	$190,000	$185	56
315 Woods Trl	0.33mi	3/2.0	1,380 (+15%)	11mo	$215,000	$156	50
221 Addison Ln	0.47mi	3/2.0	1,342 (+12%)	13mo	$231,000	$172	48
223 Addison Ln	0.49mi	3/2.0	1,342 (+12%)	18mo	$220,000	$164	42
225 Addison Ln	0.50mi	3/2.0	1,350 (+12%)	20mo	$225,500	$167	39
607 Amherst St	0.64mi	3/2.0	1,367 (+14%)	19mo	$235,000	$172	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.88×
• Total profit: $-5,402
• Equity at exit: $23,857

10-year hold

• IRR: 6.5%
• Equity multiple: 1.49×
• Total profit: $21,830
• Equity at exit: $13,834

Cash invested: $44,800 (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 31069

• Active inventory: 466
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,828 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$92 /mo · $1,101/yr
• Insurance: −$67
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $322

Break-even live

Break-even rent $1,421

Max offer price $160,000

Occupancy floor 77%

Sensitivity live

Price	-10% $412	-5% $367	+0% $322	+5% $276	+10% $231
Rent	-10% $177	-5% $249	+0% $322	+5% $394	+10% $466
Rate	-1.0pp $402	-0.5pp $362	base $322	+0.5pp $280	+1.0pp $238

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
481 Lake Joy Rd Kathleen, GA	3.0	1.0	1380	$1,400	$1.01	14d	1	1.03mi
112 Mallards Landing Dr Kathleen, GA	3.0	2.0	1489	$2,000	$1.34	44d	1	1.15mi

Listing history 3 events

1. 2026-05-18
   price $160,000 451-char remark

   Show marketing remark (451 chars)

   Fixer-upper with over 2 acres of land on Lake Joy! How often can you find both waterfrontage and multiple acres in Houston County? Now is your chance to renovate your private lake getaway or your next unique flip opportunity. The lush landscape gives the property an excess of privacy and serenity, which is further accented by the peaceful water nearby. Schedule your viewing today. This sale includes the neighboring lot at 344 N Lake Dr. Sold As-is

2. 2026-04-17
   listed $179,900 New 451-char remark

   Show marketing remark (451 chars)

   Fixer-upper with over 2 acres of land on Lake Joy! How often can you find both waterfrontage and multiple acres in Houston County? Now is your chance to renovate your private lake getaway or your next unique flip opportunity. The lush landscape gives the property an excess of privacy and serenity, which is further accented by the peaceful water nearby. Schedule your viewing today. This sale includes the neighboring lot at 344 N Lake Dr. Sold As-is

3. 2026-04-14
   soldstatus $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: $1,101 · $92/mo
• Projected year-2 tax: $1,472 · $123/mo
• Expected delta: +$371/yr (+$31/mo · 33.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone A · 57% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,939
• − Mortgage interest: −$8,962
• − Property taxes: −$1,101
• − Insurance: −$2,302
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − Depreciation: −$4,655
• Taxable income: $1,409
• Est. tax owed @ 24.0%: −$338
• After-tax cash flow: $3,522/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: Houston County
• NCES district ID: 1302880
• Math proficiency: 43% ▼ -7.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $54,823
• Composite: 38.68/100
• National rank: #4144
• State rank: #23 of 174 in GA

Livability — Perry

• Score: 68/100
• State rank: #149
• US rank: #9757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Houston County · 157,321 people
• City population: 22,953
• Metro: Warner Robins, GA
• Population (ZIP): 22,953
• Household income: $74,501
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 666.0

Population outlook (Houston County) Hauer SSP2

• Today (2025): 169,502 people
• By 2030: 178,486 · +5.3%
• By 2040: 194,642 · +14.8%
• By 2050: 207,119 · +22.2%
• By 2075: 231,480 · +36.6%
• By 2100: 235,034 · +38.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 24% Hispanic / Latino 4% Asian 3% Two or more races 3%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Houston

• 2024 margin: R (+11.3) · D 44.0% · R 55.3%
• 2008→2024 swing: +8.9pp toward D · 2008: -20.2pp · 2024: -11.3pp
• All cycles: 2024: R+11.3 2020: R+12.4 2016: R+21.6 2012: R+20.7 2008: R+20.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.01%
• Current HPI: 240.9327
• Rent YoY: —
• Metro: Warner Robins, 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

+60.0% since first listed

3 events — show timeline

• 2026-05-18 Price Changed $160,000 GAMLS
• 2026-04-17 Listed $179,900 GAMLS
• 2026-04-14 Sold (Public Records) $100,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,101 · +9.8% YoY. Source: county tax records.