298 Cypress Point Cir · Leesburg, GA 31763

$95,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 28 Days on market

Built 1995 0.61 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Income-producing waterfront property with upside potential! This tenant-occupied 3BR/2BA home sits on approximately 0.61 acres along Kinchafoonee Creek and currently rents for $850/month to a long-term tenant of approximately 10 years. The current owner has intentionally kept rent below market value in consideration of the tenant's long occupancy, creating an opportunity for future income growth. Seller records reflect approximately $10,200 in annual gross rental income and nearly $9,000 in net operating income over the past year. The spacious floor plan features a large living room with vaulted ceilings and fireplace, an oversized kitchen addition with abundant cabinetry and counter space, a large mudroom/laundry room with separate exterior entrance, and a split-bedroom layout. The primary suite offers dual walk-in closets, double vanities, a garden tub, and separate shower. Additional features include a huge screened rear porch, covered front porch, concrete skirting, metal roof, and scenic frontage along Kinchafoonee Creek. While the home could benefit from cosmetic updates and some TLC, it presents a compelling value-add opportunity for investors seeking immediate cash flow with future upside. Similar properties in the area may support higher rental rates, particularly after improvements, allowing a new owner to potentially increase cash flow while building long-term equity. Affordable income-producing properties with waterfront features and proven rental history are increasingly difficult to find. Don't miss this opportunity.

Key facts

• Kinchafoonee creek
• Oversized kitchen
• Large living room

Tags

• WATERFRONT PROPERTY
• KINCHAFOONEE CREEK
• LARGE LIVING ROOM
• OVERSIZED KITCHEN
• MUDROOM LAUNDRY ROOM
• SPLIT BEDROOM LAYOUT

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer; Water available
• Home design: Manufactured home / single-family residence; One story; Built in 1995; Property listed as fixer
• Construction: Metal roof; Other construction materials; Manufactured house foundation
• Exterior features: Waterfront on Kinchafoonee Creek; Lot includes other unspecified features

Interior

• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (on the main level)
• Heating & cooling: Central heating; Central air; Ceiling fan(s); Wood-burning fireplace (1)
• Interior features: Split bedroom plan; Vaulted ceilings; Den
• Laundry & utility: Mud room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#135 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Lee County (rural): math 44% / reading 45% proficiency, ranked #21 of 174 in GA (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 203 active listings in the ZIP; solid renter incomes; 133 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lee County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($94k) 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: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 95% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.82% ✓
• Cap rate: 16.18%
• Cash-on-cash: 35.31%
• DSCR: 2.57
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.22% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.23×
• Total profit: $6,184
• Equity at exit: $14,165

10-year hold

• IRR: 14.6%
• Equity multiple: 2.13×
• Total profit: $30,139
• Equity at exit: $8,214

Cash invested: $26,600 (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 31763

• Home prices YoY: -15.9%
• Rents YoY: 2.2%
• Active inventory: 203
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,729 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$45 /mo · $542/yr
• Insurance: −$40
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $356

Break-even live

Break-even rent $1,278

Max offer price $95,000

Occupancy floor 74%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $95,000 Active 28 DOM
2. 2026-06-18
   days on market $95,000 Active 27 DOM
3. 2026-06-17
   days on market $95,000 Active 26 DOM
4. 2026-06-16
   days on market $95,000 Active 25 DOM
5. 2026-06-15
   days on market $95,000 Active 24 DOM
6. 2026-06-14
   days on market $95,000 Active 22 DOM
7. 2026-06-13
   days on market $95,000 Active 21 DOM
8. 2026-06-10
   days on market $95,000 Active 19 DOM
9. 2026-06-09
   days on market $95,000 Active 18 DOM
10. 2026-06-08
    days on market $95,000 Active 17 DOM
11. 2026-06-07
    statusdays on market $95,000 Active 16 DOM
12. 2026-06-05
    days on market $95,000 New 13 DOM
13. 2026-06-03
    days on market $95,000 New 12 DOM
14. 2026-06-02
    days on market $95,000 New 11 DOM
15. 2026-06-01
    days on market $95,000 New 10 DOM
16. 2026-05-31
    days on market $95,000 New 9 DOM
17. 2026-05-30
    days on market $95,000 New 8 DOM
18. 2026-05-22
    listed $95,000 Active 1556-char remark

    Show marketing remark (1556 chars)

    Income-producing waterfront property with upside potential! This tenant-occupied 3BR/2BA home sits on approximately 0.61 acres along Kinchafoonee Creek and currently rents for $850/month to a long-term tenant of approximately 10 years. The current owner has intentionally kept rent below market value in consideration of the tenant's long occupancy, creating an opportunity for future income growth. Seller records reflect approximately $10,200 in annual gross rental income and nearly $9,000 in net operating income over the past year. The spacious floor plan features a large living room with vaulted ceilings and fireplace, an oversized kitchen addition with abundant cabinetry and counter space, a large mudroom/laundry room with separate exterior entrance, and a split-bedroom layout. The primary suite offers dual walk-in closets, double vanities, a garden tub, and separate shower. Additional features include a huge screened rear porch, covered front porch, concrete skirting, metal roof, and scenic frontage along Kinchafoonee Creek. While the home could benefit from cosmetic updates and some TLC, it presents a compelling value-add opportunity for investors seeking immediate cash flow with future upside. Similar properties in the area may support higher rental rates, particularly after improvements, allowing a new owner to potentially increase cash flow while building long-term equity. Affordable income-producing properties with waterfront features and proven rental history are increasingly difficult to find. Don't miss this opportunity.

19. 2026-05-22
    listed $95,000 New

    Show marketing remark (1556 chars)

    Income-producing waterfront property with upside potential! This tenant-occupied 3BR/2BA home sits on approximately 0.61 acres along Kinchafoonee Creek and currently rents for $850/month to a long-term tenant of approximately 10 years. The current owner has intentionally kept rent below market value in consideration of the tenant's long occupancy, creating an opportunity for future income growth. Seller records reflect approximately $10,200 in annual gross rental income and nearly $9,000 in net operating income over the past year. The spacious floor plan features a large living room with vaulted ceilings and fireplace, an oversized kitchen addition with abundant cabinetry and counter space, a large mudroom/laundry room with separate exterior entrance, and a split-bedroom layout. The primary suite offers dual walk-in closets, double vanities, a garden tub, and separate shower. Additional features include a huge screened rear porch, covered front porch, concrete skirting, metal roof, and scenic frontage along Kinchafoonee Creek. While the home could benefit from cosmetic updates and some TLC, it presents a compelling value-add opportunity for investors seeking immediate cash flow with future upside. Similar properties in the area may support higher rental rates, particularly after improvements, allowing a new owner to potentially increase cash flow while building long-term equity. Affordable income-producing properties with waterfront features and proven rental history are increasingly difficult to find. Don't miss this opportunity.

20. 2008-09-26
    soldstatus $85,000

ⓘ 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: $542 · $45/mo
• Projected year-2 tax: $874 · $73/mo
• Expected delta: +$332/yr (+$28/mo · 61.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 72% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 95% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,743
• − Mortgage interest: −$5,321
• − Property taxes: −$542
• − Insurance: −$5,594
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − Depreciation: −$2,764
• Taxable income: $3,204
• Est. tax owed @ 24.0%: −$769
• After-tax cash flow: $3,504/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: Lee County
• NCES district ID: 1303270
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $60,449
• Composite: 39.23/100
• National rank: #4009
• State rank: #21 of 174 in GA

Livability — Leesburg

• Score: 68/100
• State rank: #135
• US rank: #9283

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 29,271 people
• City population: 29,271
• Metro: Albany, GA
• Population (ZIP): 29,271
• Household income: $88,312
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 700.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 31,140 people
• By 2030: 31,753 · +2.0%
• By 2040: 32,710 · +5.0%
• By 2050: 33,476 · +7.5%
• By 2075: 35,113 · +12.8%
• By 2100: 34,821 · +11.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 24% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Korean 1% Other Indo-European 1%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+43.5) · D 28.0% · R 71.6%
• 2008→2024 swing: +8.6pp toward D · 2008: -52.1pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+44.6 2016: R+53.0 2012: R+52.4 2008: R+52.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.33%
• Current HPI: 187.3672
• Rent YoY: ▲ 2.22%
• Metro: Albany, 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

+11.8% since first listed

3 events — show timeline

• 2026-05-22 Listed $95,000 GAMLS
• 2026-05-22 Listed $95,000 SWGABOR
• 2008-09-26 Sold (Public Records) $85,000 Public Records

Property tax history

-1.7%/yr

Latest (2025): $542 · -5.2% YoY. Source: county tax records.