22 C Ave · Gainesville, GA 30504

$199,900

3 bd · 1.0 ba · 1,279 sqft · SingleFamily public records · 33 Days on market

Built 1926 10,018 sqft lot $156/sqft · 38% below area Est $244k · 18% under

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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 +24.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +5.4/10.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to fix up a piece of history in the heart of Gainesville. Call today to schedule an appointment!

Key facts

• 0.23 acre lot
• 2 parking spots
• Built 1926

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 2.7% in Gainesville — 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 66/100 on livability (#181 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: amenities D+, schools F, crime F.
• Hall County (rural): math 28% / reading 33% proficiency, ranked #81 of 174 in GA (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents falling (-4.7%/yr); 252 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,274 units permitted in Hall County in 2024 (620 in 5+ unit buildings).
• This rent runs 33% of the median local income ($76k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Hall County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.04% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.63%
• DSCR: 1.38
• GRM: 8.0

CMA / ARV

• ARV (median comp): $244,243
• List price: $199,900
• Delta: -18.16%
• 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
25 Fourth St	0.03mi	3/1.0	1,279 (0%)	2mo	$280,000	$219	97
22 B Ave	0.07mi	2/2.0 (-1)	1,279 (0%)	14mo	$309,000	$242	76
14 J Ave	0.45mi	3/1.0	1,279 (0%)	10mo	$235,000	$184	71
4 B Ave	0.15mi	2/1.0 (-1)	1,196 (-6%)	13mo	$255,000	$213	66
105 First St	0.39mi	4/2.0 (+1)	1,344 (+5%)	6mo	$334,000	$249	59
6 N Ave	0.23mi	2/1.5 (-1)	1,320 (+3%)	22mo	$248,500	$188	59
4 I Ave	0.48mi	2/1.0 (-1)	1,201 (-6%)	10mo	$235,000	$196	54
41 Sixth St	0.49mi	2/1.0 (-1)	1,201 (-6%)	11mo	$269,000	$224	52
2428 Buena Vista Cir	0.70mi	3/2.0	1,314 (+3%)	9mo	$295,000	$225	51
3618 Titshaw Dr	0.74mi	3/1.5	1,318 (+3%)	9mo	$245,000	$186	51
19 Fourth St	0.44mi	2/2.0 (-1)	1,459 (+14%)	1mo	$328,000	$225	47
3611 Titshaw Dr	0.72mi	3/2.0	1,300 (+2%)	23mo	$307,000	$236	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.77×
• Total profit: $-12,885
• Equity at exit: $29,806

10-year hold

• IRR: -0.6%
• Equity multiple: 0.97×
• Total profit: $-1,933
• Equity at exit: $17,284

Cash invested: $55,972 (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 30504

• Home prices YoY: -32.5%
• Rents YoY: -4.7%
• Active inventory: 252
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,075 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$105 /mo · $1,261/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $403

Break-even live

Break-even rent $1,565

Max offer price $199,900

Occupancy floor 76%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2283 Birch Mountain Run Gainesville, GA	4.0	2.5	1700	$2,025	$1.19	12d	1	0.44mi
2223 Birch Mountain Run Gainesville, GA	4.0	2.5	1767	$2,025	$1.15	43d	1	0.45mi
2309 Deerhaven Xing Gainesville, GA	4.0	2.5	1700	$2,025	$1.19	12d	1	0.50mi
2313 Deerhaven Xing Gainesville, GA	4.0	2.5	1767	$2,025	$1.15	12d	1	0.51mi
2354 Deerhaven Xing Gainesville, GA	4.0	2.5	1700	$2,025	$1.19	43d	1	0.60mi
2765 Valley Green Dr Gainesville, GA	3.0	2.5	1558	$1,890	$1.21	21d	1	1.18mi
Valley Green Dr Gainesville, GA	3.0	2.5	1344	$1,750	$1.30	43d	4	1.19mi
5296 Magnolia Pl Gainesville, GA	3.0	2.5	1742	$2,150	$1.23	13d	1	1.20mi
2883 Creek Bottom Ct Gainesville, GA	3.0	2.5	1528	$1,699	$1.11	13d	1	1.23mi
2883 Creek Bottom Ct Gainesville, GA	3.0	2.5	1528	$1,749	$1.14	21d	1	1.23mi
4654 Cypress Landing Way Gainesville, GA	3.0	2.5	1850	$2,200	$1.19	13d	1	1.33mi
4741 Cypress Park Dr Gainesville, GA	3.0	3.0	1850	$2,100	$1.14	43d	1	1.35mi
3055 Tumbling Creek Rd Gainesville, GA	3.0	3.0	1413	$2,024	$1.43	1d	2	1.41mi
3019 Ivy Hill Cir Unit 3019-IHC , GA	3.0	3.0	1413	$2,050	$1.45	43d	1	1.42mi
3080 Ivy Hill Cir Unit 3080-IHC , GA	3.0	3.0	1413	$2,050	$1.45	24d	1	1.42mi
3100 Ivy Hill Cir Unit 3100-IHC , GA	3.0	3.0	1413	$2,000	$1.42	24d	1	1.42mi
3064 Ivy Hill Cir Unit 3064-IHC , GA	3.0	3.0	1413	$1,999	$1.41	24d	1	1.42mi

Listing history 3 events

1. 2026-04-17
   listed $199,900 New 115-char remark

   Show marketing remark (115 chars)

   Great opportunity to fix up a piece of history in the heart of Gainesville. Call today to schedule an appointment!

2. 2026-04-17
   listed $199,900 Active 115-char remark

   Show marketing remark (115 chars)

   Great opportunity to fix up a piece of history in the heart of Gainesville. Call today to schedule an appointment!

3. 2026-04-17
   soldstatus $267,000

   Show marketing remark (115 chars)

   Great opportunity to fix up a piece of history in the heart of Gainesville. Call today to schedule an appointment!

ⓘ 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: $1,261 · $105/mo
• Projected year-2 tax: $1,839 · $153/mo
• Expected delta: +$578/yr (+$48/mo · 45.9%)

ⓘ 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 4/10 Moderate 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,901
• − Mortgage interest: −$11,198
• − Property taxes: −$1,261
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,992
• − Management: −$1,992
• − Depreciation: −$5,815
• Taxable income: $1,644
• Est. tax owed @ 24.0%: −$395
• After-tax cash flow: $4,437/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: Hall County
• NCES district ID: 1302610
• Math proficiency: 28% ▼ -12.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $55,708
• Composite: 27.15/100
• National rank: #7029
• State rank: #81 of 174 in GA

Livability — Gainesville

• Score: 66/100
• State rank: #181
• US rank: #11362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hall County · 188,353 people
• City population: 140,301
• Metro: Gainesville, GA
• Population (ZIP): 29,422
• Household income: $75,885
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 787.0

Population outlook (Hall County) Hauer SSP2

• Today (2025): 225,275 people
• By 2030: 240,204 · +6.6%
• By 2040: 268,440 · +19.2%
• By 2050: 293,596 · +30.3%
• By 2075: 350,293 · +55.5%
• By 2100: 389,329 · +72.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 49% White 39% Two or more races 22% Black 6% Asian 4%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Lithuanian 1% Italian 1% Serbian 1%
• Foreign-born: 27% · Canada, Vietnam, Jamaica
• Languages at home: 52% English-only · Spanish 43% Vietnamese 3% French/Haitian/Cajun 1%

Political lean MEDSL · Hall

• 2024 margin: Solid R (+43.8) · D 27.8% · R 71.6%
• 2008→2024 swing: +7.1pp toward D · 2008: -50.9pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+43.2 2016: R+50.7 2012: R+56.4 2008: R+50.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.54%
• Current HPI: 239.8544
• Rent YoY: ▼ -4.73%
• Metro: Gainesville, 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

+33.6% since first listed

3 events — show timeline

• 2026-04-17 Sold (Public Records) $267,000 Public Records
• 2026-04-17 Listed $199,900 FMLS
• 2026-04-17 Listed $199,900 GAMLS

Property tax history

+13.2%/yr

Latest (2025): $1,261 · +1.2% YoY. Source: county tax records.