My Home The Melrose II Plan · Perry, GA 31069

$269,900

4 bd · 2.5 ba · 1,865 sqft · SingleFamily · 366 Days on market

Good condition

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Why this score? — see what drove the D- 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 +8.3/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The My Home - The Melrose II by My Home Communities is a Single Family plan that features 4 bedrooms and 2.5 bathrooms.

Key facts

• 2 garage spots
• Listed 365 days

🏗️ New construction. The $269,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $286,435.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $270k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-262 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (19.4% below list).
• Recommended offer: $217k (19.4% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Langston Road Elementary School (math 58% / reading 53%, grade C, #173 of 1,228 statewide, top 14%, 867 students, 49% FRL); Mossy Creek Middle School (math 57% / reading 61%, grade B, #45 of 470 statewide, top 10%, 741 students, 36% FRL); Perry High School (math 31% / reading 39%, grade F, #84 of 424 statewide, top 20%, 1,478 students, 48% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: 692 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 140d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,545 units permitted in Houston County in 2024 (336 in 5+ unit buildings).
• This rent runs 35% of the median local income ($75k/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 $2k of loan paydown is wiped out by about $9k 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 366 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.

Recommended offer $217,452 (19.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 366 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.76% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.91%
• DSCR: 0.83
• GRM: 11.0

CMA / ARV

• ARV (median comp): $286,435
• List price: $269,900
• Delta: -5.77%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Bramblewood Ln	0.23mi	4/2.5	1,865 (0%)	2mo	$289,339	$155	87
127 Bramblewood Ln	0.35mi	4/2.5	1,865 (0%)	5mo	$286,550	$154	80
248 Overton Dr	0.18mi	3/2.0 (-1)	1,625 (-13%)	2mo	$269,990	$166	62
111 Breakwater Way	0.17mi	3/2.0 (-1)	1,593 (-15%)	0mo	$259,900	$163	60
204 Sutton Dr. Dr	0.51mi	3/2.5 (-1)	1,778 (-5%)	4mo	$269,900	$152	60
103 Breakwater Way	0.15mi	3/2.0 (-1)	1,643 (-12%)	8mo	$272,400	$166	59
206 Sutton Dr. Dr	0.52mi	3/2.5 (-1)	1,778 (-5%)	4mo	$269,900	$152	59
119 Magnum Way	0.25mi	4/3.0	2,130 (+14%)	5mo	$298,500	$140	58
104 Overton Dr	0.51mi	4/2.0	1,683 (-10%)	2mo	$294,400	$175	57
107 Water Run Way	0.34mi	3/2.0 (-1)	1,593 (-15%)	3mo	$285,250	$179	50
207 Sutton Dr. Dr	0.52mi	4/2.0	1,620 (-13%)	3mo	$269,900	$167	49
113 Lake Lillian Dr	0.66mi	3/2.0 (-1)	1,673 (-10%)	3mo	$255,900	$153	42

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: -22.9%
• Equity multiple: 0.21×
• Total profit: $-63,044
• Equity at exit: $42,708

10-year hold

• IRR: -17.3%
• Equity multiple: 0.05×
• Total profit: $-76,220
• Equity at exit: $24,766

Cash invested: $80,202 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 29 active · 30 under contract
• Months of supply: 7.0 mo (14%/mo absorbed)
• Median asking: $289,400 ($176/sqft)
• Median days on market: 63 d
• This list price: 3% of active listings are priced below it
• ARV vs active asking: -12.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 31069

• Active inventory: 692
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,175 high
• Mortgage (P&I): −$1,502
• Tax est. 1.5%: −$358 /mo · $4,297/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $-262

Break-even live

Break-even rent $2,506

Max offer price $248,579

Occupancy floor —

Sensitivity live

Price	-10% $-64	-5% $-163	+0% $-262	+5% $-361	+10% $-460
Rent	-10% $-433	-5% $-348	+0% $-262	+5% $-176	+10% $-90
Rate	-1.0pp $-117	-0.5pp $-189	base $-262	+0.5pp $-336	+1.0pp $-411

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: $71,609
• Closing costs: $8,593
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
241 Overton Dr Perry, GA	4.0	2.0	1763	$2,400	$1.36	139d	1	0.26mi
423 Haddenham Ct Perry, GA	3.0	2.0	1554	$2,000	$1.29	139d	1	0.28mi
423 Haddenham Ct Perry, GA	3.0	2.0	1554	$1,950	$1.25	109d	1	0.28mi
111 Judy Kay Way Perry, GA	3.0	2.0	1759	$2,000	$1.14	117d	1	1.11mi
112 Gwendolyn Ave Perry, GA	3.0	2.0	1817	$2,425	$1.33	6d	1	1.11mi
103 Hattie Ct Perry, GA	3.0	2.0	1762	$1,900	$1.08	4d	1	1.17mi
114 Shasta Dr Perry, GA	3.0	2.0	1441	$1,750	$1.21	139d	1	1.38mi
119 Washington Place Dr Perry, GA	3.0	2.0	1354	$1,600	$1.18	139d	1	1.43mi

Listing history 50 events

1. 2026-07-27
   days on market $269,900 Active 366 DOM
2. 2026-07-25
   days on market $269,900 Active 364 DOM
3. 2026-07-24
   days on market $269,900 Active 363 DOM
4. 2026-07-23
   days on market $269,900 Active 362 DOM
5. 2026-07-22
   days on market $269,900 Active 361 DOM
6. 2026-07-21
   days on market $269,900 Active 360 DOM
7. 2026-07-18
   days on market $269,900 Active 357 DOM
8. 2026-07-16
   days on market $269,900 Active 355 DOM
9. 2026-07-16
   days on market $269,900 Active 354 DOM
10. 2026-07-14
    days on market $269,900 Active 353 DOM
11. 2026-07-13
    days on market $269,900 Active 352 DOM
12. 2026-07-12
    days on market $269,900 Active 351 DOM
13. 2026-07-11
    days on market $269,900 Active 350 DOM
14. 2026-07-10
    days on market $269,900 Active 349 DOM
15. 2026-07-09
    days on market $269,900 Active 348 DOM
16. 2026-07-08
    days on market $269,900 Active 347 DOM
17. 2026-07-07
    days on market $269,900 Active 346 DOM
18. 2026-07-06
    days on market $269,900 Active 345 DOM
19. 2026-07-05
    days on market $269,900 Active 344 DOM
20. 2026-07-04
    days on market $269,900 Active 343 DOM
21. 2026-07-03
    days on market $269,900 Active 342 DOM
22. 2026-07-02
    days on market $269,900 Active 341 DOM
23. 2026-07-01
    days on market $269,900 Active 340 DOM
24. 2026-06-30
    days on market $269,900 Active 339 DOM
25. 2026-06-29
    days on market $269,900 Active 338 DOM
26. 2026-06-28
    days on market $269,900 Active 337 DOM
27. 2026-06-28
    days on market $269,900 Active 336 DOM
28. 2026-06-27
    days on market $269,900 Active 335 DOM
29. 2026-06-25
    days on market $269,900 Active 333 DOM
30. 2026-06-23
    days on market $269,900 Active 331 DOM
31. 2026-06-21
    days on market $269,900 Active 330 DOM
32. 2026-06-19
    days on market $269,900 Active 328 DOM
33. 2026-06-18
    days on market $269,900 Active 327 DOM
34. 2026-06-17
    days on market $269,900 Active 326 DOM
35. 2026-06-16
    days on market $269,900 Active 325 DOM
36. 2026-06-15
    days on market $269,900 Active 324 DOM
37. 2026-06-14
    days on market $269,900 Active 322 DOM
38. 2026-06-13
    days on market $269,900 Active 321 DOM
39. 2026-06-10
    days on market $269,900 Active 319 DOM
40. 2026-06-09
    days on market $269,900 Active 318 DOM
41. 2026-06-08
    days on market $269,900 Active 317 DOM
42. 2026-06-07
    days on market $269,900 Active 316 DOM
43. 2026-06-05
    days on market $269,900 Active 313 DOM
44. 2026-06-03
    days on market $269,900 Active 312 DOM
45. 2026-06-02
    days on market $269,900 Active 311 DOM
46. 2026-06-01
    days on market $269,900 Active 310 DOM
47. 2026-05-31
    days on market $269,900 Active 309 DOM
48. 2026-05-30
    days on market $269,900 Active 308 DOM
49. 2025-09-16
    price $269,900 119-char remark

    Show marketing remark (119 chars)

    The My Home - The Melrose II by My Home Communities is a Single Family plan that features 4 bedrooms and 2.5 bathrooms.

50. 2025-08-09
    price $274,900 119-char remark

    Show marketing remark (119 chars)

    The My Home - The Melrose II by My Home Communities is a Single Family plan that features 4 bedrooms and 2.5 bathrooms.

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

Taxation est. · year 1

• Rental income: $26,094
• − Mortgage interest: −$16,045
• − Property taxes: −$4,297
• − Insurance: −$1,432
• − Repairs & maintenance: −$2,088
• − Management: −$2,088
• − Depreciation: −$8,333
• Taxable loss: −$8,187
• Est. tax savings @ 24.0%: +$1,965
• After-tax cash flow: $-1,175/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.

Condition & rehab AI · 3 photos

Good 75/100 Cosmetic rehab Est. rehab $9,325–$27,975 screening

The home appears to be in good condition with a well-maintained exterior and landscaping. A fresh coat of paint and some landscaping maintenance would further enhance its value.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding can improve the home's curb appeal and increase its value. ↑
• Both Trim the landscaping — Well-maintained landscaping can enhance the home's curb appeal and attract potential buyers or renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 50/100

Zoned Schools

Elementary Langston Road Elementary School C GA #173/1,228 Nat'l #9,513/41,679 Middle Mossy Creek Middle School B GA #45/470 Nat'l #1,951/14,009 High Perry High School F GA #84/424 Nat'l #9,567/17,239

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

C Composite livability gradescore 68/100

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

• Census place: Perry, GA
• County: Houston County · 169,502 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: 19% of renters

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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%

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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%

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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

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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

+0.0% since first listed

3 events — show timeline

• 2025-09-16 Price Changed $269,900 Zillow
• 2025-08-09 Price Changed $274,900 Zillow
• 2025-07-26 Listed $269,900 Zillow