511 Forsyth St · Montezuma, GA 31063

$99,000

3 bd · 1.0 ba · 880 sqft · SingleFamily public records · 79 Days on market

Built 1962 0.39 ac lot $112/sqft · 540% above area

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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 +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Appreciation +6.0/10.0
• 1% rule +4.1/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks MLS

Amazing investment opportunity in the heart of Montezuma with tenants in place, ensuring immediate income for the new owner. Situated on a spacious lot at the end of a quiet dead-end street, this home offers a large open concept living area with a renovated kitchen, stainless steel appliances, and a separate dining room. Hardwood floors run throughout the home, with new tile in the kitchen and bathroom. The lot offers plenty of space for kids and pets, as well as ample off-street parking. The current tenants would ideally like to stay in place, but are on a month-to-month lease, so can be given notice if the home is purchased by an owner-occupant.

Key facts

• Separate dining room
• Spacious lot
• Renovated kitchen

Tags

• SPACIOUS LOT
• OPEN CONCEPT LIVING AREA
• RENOVATED KITCHEN
• STAINLESS STEEL APPLIANCES
• SEPARATE DINING ROOM
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (8.7% below list).
• Recommended offer: $90k (8.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#188 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Macon County (town): math 5% / reading 14% proficiency, ranked #169 of 174 in GA (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 29 active listings in the ZIP; 13 units permitted in Macon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($684 loan paydown + $2k appreciation (1.9% local appreciation)).
• Macon County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 4 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 $20k; list at $99k implies a 395% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,371 (8.7% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.91% ✗
• Cap rate: 7.58%
• Cash-on-cash: 4.61%
• DSCR: 1.21
• GRM: 9.1

CMA / ARV

• ARV (median comp): $19,702
• List price: $99,000
• Delta: 402.49%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

1.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.48×
• Total profit: $13,263
• Equity at exit: $38,754

10-year hold

• IRR: 12.1%
• Equity multiple: 2.61×
• Total profit: $44,713
• Equity at exit: $55,580

Cash invested: $27,720 (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 31063

• Home prices YoY: 1.1%
• Active inventory: 29
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $904 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$47 /mo · $564/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $107

Break-even live

Break-even rent $769

Max offer price $99,000

Occupancy floor 83%

Sensitivity live

Price	-10% $163	-5% $135	+0% $107	+5% $79	+10% $51
Rent	-10% $35	-5% $71	+0% $107	+5% $142	+10% $178
Rate	-1.0pp $156	-0.5pp $132	base $107	+0.5pp $81	+1.0pp $55

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $99,000 Active 79 DOM
2. 2026-06-18
   days on market $99,000 Active 78 DOM
3. 2026-06-17
   days on market $99,000 Active 77 DOM
4. 2026-06-16
   days on market $99,000 Active 76 DOM
5. 2026-06-15
   days on market $99,000 Active 75 DOM
6. 2026-06-14
   days on market $99,000 Active 73 DOM
7. 2026-06-13
   days on market $99,000 Active 72 DOM
8. 2026-06-10
   days on market $99,000 Active 70 DOM
9. 2026-06-09
   days on market $99,000 Active 69 DOM
10. 2026-06-08
    days on market $99,000 Active 68 DOM
11. 2026-06-07
    days on market $99,000 Active 67 DOM
12. 2026-06-03
    days on market $99,000 Active 63 DOM
13. 2026-06-02
    days on market $99,000 Active 62 DOM
14. 2026-06-01
    days on market $99,000 Active 61 DOM
15. 2026-05-31
    days on market $99,000 Active 60 DOM
16. 2026-05-30
    days on market $99,000 Active 59 DOM
17. 2026-04-01
    listed $99,000 Active 655-char remark

    Show marketing remark (569 chars)

    Amazing investment opportunity in the heart of Montezuma with tenants in place, ensuring immediate income for the new owner! Situated on a spacious lot at the end of a dead-end street, this home offers a large, open concept living area with a renovated kitchen, stainless steel appliances, and a separate dining room. Hardwood floors run throughout the home, with new tile in the kitchen and bathroom. The lot offers plenty of space for kids or pets, as well as ample parking. Don't miss this opportunity for passive income in quiet Montezuma. Schedule your tour today!

18. 2026-04-01
    listed $99,000 Active 569-char remark

    Show marketing remark (569 chars)

    Amazing investment opportunity in the heart of Montezuma with tenants in place, ensuring immediate income for the new owner! Situated on a spacious lot at the end of a dead-end street, this home offers a large, open concept living area with a renovated kitchen, stainless steel appliances, and a separate dining room. Hardwood floors run throughout the home, with new tile in the kitchen and bathroom. The lot offers plenty of space for kids or pets, as well as ample parking. Don't miss this opportunity for passive income in quiet Montezuma. Schedule your tour today!

19. 2026-03-31
    historical
20. 2026-02-13
    price $99,000
21. 2026-02-13
    price $99,000
22. 2025-10-22
    price $115,000
23. 2025-10-22
    price $115,000
24. 2025-09-04
    listed $99,000 New
25. 2025-09-04
    listed $125,000 New
26. 1990-03-09
    soldstatus $20,000

ⓘ 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: $564 · $47/mo
• Projected year-2 tax: $911 · $76/mo
• Expected delta: +$347/yr (+$29/mo · 61.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $10,845
• − Mortgage interest: −$5,546
• − Property taxes: −$564
• − Insurance: −$495
• − Repairs & maintenance: −$868
• − Management: −$868
• − Depreciation: −$2,880
• Taxable loss: −$375
• Est. tax savings @ 24.0%: +$90
• After-tax cash flow: $1,369/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: Macon County
• NCES district ID: 1303450
• Math proficiency: 5% ▼ -7.00%
• Reading proficiency: 14% ▼ -4.00%
• Median HH income: $29,832
• Composite: 7.25/100
• National rank: #9957
• State rank: #169 of 174 in GA

Livability — Montezuma

• Score: 66/100
• State rank: #188
• US rank: #11737

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montezuma, GA
• Population (ZIP): 4,262

Population outlook (Macon County) Hauer SSP2

• Today (2025): 12,210 people
• By 2030: 11,442 · -6.3%
• By 2040: 9,901 · -18.9%
• By 2050: 8,575 · -29.8%
• By 2075: 6,047 · -50.5%
• By 2100: 4,043 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 58% White 29% Hispanic / Latino 6% Asian 4% Two or more races 3%
• Hispanic origin (detail): Mexican 2%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 5% German/W. Germanic 2% Tagalog/Filipino 1%

Political lean MEDSL · Macon

• 2024 margin: D (+17.9) · D 58.8% · R 40.9%
• 2008→2024 swing: -13.0pp toward R · 2008: 30.9pp · 2024: 17.9pp
• All cycles: 2024: D+17.9 2020: D+23.1 2016: D+27.2 2012: D+34.8 2008: D+30.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.94%
• Current HPI: 170.6678
• Rent YoY: —
• Metro: —
• 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

+395.0% since first listed

10 events — show timeline

• 2026-04-01 Listed $99,000 MGMLS
• 2026-04-01 Listed $99,000 CGMLS
• 2026-03-31 Listing Removed — GAMLS
• 2026-02-13 Price Changed $99,000 MGMLS
• 2026-02-13 Price Changed $99,000 GAMLS
• 2025-10-22 Price Changed $115,000 MGMLS
• 2025-10-22 Price Changed $115,000 GAMLS
• 2025-09-04 Listed $125,000 GAMLS
• 2025-09-04 Listed $99,000 GAMLS
• 1990-03-09 Sold (Public Records) $20,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $564 · +13.3% YoY. Source: county tax records.