312 2nd Ave · Manchester, GA 31816

$69,000

3 bd · 1.0 ba · 1,791 sqft · SingleFamily public records · 186 Days on market

Built 1912 $39/sqft · 54% below area

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Step back in time with this charming 1912 historic home featuring 3 bedrooms, 1 bath, and 1,791 sq ft of living space. Bursting with character and timeless craftsmanship, this property offers original details you won't find in newer homes—high ceilings, classic woodwork, and a welcoming front porch. With so much room for potential, it's the perfect canvas to restore and modernize while preserving its vintage charm. Whether you're a history lover or an investor seeking a unique opportunity, this one-of-a-kind home is ready to shine again! Property is being sold "AS-IS".

Key facts

• Vintage charm
• Classic woodwork
• Original details

Tags

• HISTORIC HOME
• ORIGINAL DETAILS
• HIGH CEILINGS
• CLASSIC WOODWORK
• WELCOMING FRONT PORCH
• VINTAGE CHARM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 5.1% in Manchester — 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 55/100 on livability (#525 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime D-, amenities F.
• Meriwether County (rural): math 18% / reading 22% proficiency, ranked #144 of 174 in GA (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 45 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 180 units permitted in Meriwether County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($477 loan paydown + $7k appreciation (10.0% local appreciation)).
• Meriwether County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 186 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $69k implies a 360% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 59% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 186 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — 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. Crime grade is D 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?
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: 2.10% ✓
• Cap rate: 18.56%
• Cash-on-cash: 43.79%
• DSCR: 2.95
• GRM: 4.0

CMA / ARV

• ARV (median comp): $150,852
• List price: $69,000
• Delta: -54.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 2nd Ave	0.00mi	3/1.0	1,791 (0%)	1mo	$25,000	$14	99
310 5th St	0.19mi	3/2.0	1,766 (-1%)	10mo	$125,000	$71	77
311 5th St	0.21mi	3/2.0	1,942 (+8%)	4mo	$186,900	$96	69
2 Lane St	0.40mi	4/1.0 (+1)	1,700 (-5%)	9mo	$77,000	$45	60
105 E East Main St E	0.38mi	2/1.0 (-1)	1,722 (-4%)	14mo	$140,000	$81	60
511 Chafin Dr	0.43mi	3/2.0	1,726 (-4%)	16mo	$92,000	$53	56
219 5th St	0.14mi	3/3.0	1,922 (+7%)	21mo	$190,000	$99	56
2 Spell St	0.41mi	3/2.0	1,574 (-12%)	10mo	$148,500	$94	48
603 Jackson Ln	0.50mi	3/2.0	1,877 (+5%)	21mo	$232,500	$124	47
623 Mayes Way	0.72mi	3/2.0	1,817 (+2%)	18mo	$150,000	$83	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 58.4%
• Equity multiple: 5.27×
• Total profit: $82,485
• Equity at exit: $62,161

10-year hold

• IRR: 51.9%
• Equity multiple: 11.74×
• Total profit: $207,590
• Equity at exit: $134,052

Cash invested: $19,320 (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 31816

• Home prices YoY: 8.7%
• Active inventory: 45
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $705

Break-even live

Break-even rent $558

Max offer price $69,000

Occupancy floor 46%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 Walker Ave Manchester, GA	4.0	2.5	1600	$1,450	$0.91	20d	1	0.64mi

Listing history 6 events

1. 2026-05-13
   status Pending 591-char remark

   Show marketing remark (591 chars)

   Step back in time with this charming 1912 historic home featuring 3 bedrooms, 1 bath, and 1,791 sq ft of living space. Bursting with character and timeless craftsmanship, this property offers original details you won't find in newer homes—high ceilings, classic woodwork, and a welcoming front porch. With so much room for potential, it's the perfect canvas to restore and modernize while preserving its vintage charm. Whether you're a history lover or an investor seeking a unique opportunity, this one-of-a-kind home is ready to shine again! Property is being sold "AS-IS".

2. 2026-04-01
   price $69,000 591-char remark

   Show marketing remark (591 chars)

   Step back in time with this charming 1912 historic home featuring 3 bedrooms, 1 bath, and 1,791 sq ft of living space. Bursting with character and timeless craftsmanship, this property offers original details you won't find in newer homes—high ceilings, classic woodwork, and a welcoming front porch. With so much room for potential, it's the perfect canvas to restore and modernize while preserving its vintage charm. Whether you're a history lover or an investor seeking a unique opportunity, this one-of-a-kind home is ready to shine again! Property is being sold "AS-IS".

3. 2026-03-06
   price $88,900 591-char remark

   Show marketing remark (591 chars)

   Step back in time with this charming 1912 historic home featuring 3 bedrooms, 1 bath, and 1,791 sq ft of living space. Bursting with character and timeless craftsmanship, this property offers original details you won't find in newer homes—high ceilings, classic woodwork, and a welcoming front porch. With so much room for potential, it's the perfect canvas to restore and modernize while preserving its vintage charm. Whether you're a history lover or an investor seeking a unique opportunity, this one-of-a-kind home is ready to shine again! Property is being sold "AS-IS".

4. 2026-01-02
   price $89,900 591-char remark

   Show marketing remark (591 chars)

   Step back in time with this charming 1912 historic home featuring 3 bedrooms, 1 bath, and 1,791 sq ft of living space. Bursting with character and timeless craftsmanship, this property offers original details you won't find in newer homes—high ceilings, classic woodwork, and a welcoming front porch. With so much room for potential, it's the perfect canvas to restore and modernize while preserving its vintage charm. Whether you're a history lover or an investor seeking a unique opportunity, this one-of-a-kind home is ready to shine again! Property is being sold "AS-IS".

5. 2025-11-08
   listed $99,900 Active 591-char remark

   Show marketing remark (591 chars)

   Step back in time with this charming 1912 historic home featuring 3 bedrooms, 1 bath, and 1,791 sq ft of living space. Bursting with character and timeless craftsmanship, this property offers original details you won't find in newer homes—high ceilings, classic woodwork, and a welcoming front porch. With so much room for potential, it's the perfect canvas to restore and modernize while preserving its vintage charm. Whether you're a history lover or an investor seeking a unique opportunity, this one-of-a-kind home is ready to shine again! Property is being sold "AS-IS".

6. 2000-04-28
   soldstatus $15,000

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $635 · $53/mo
• Expected delta: +$37/yr (+$3/mo · 6.1%)

ⓘ 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 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $17,400
• − Mortgage interest: −$3,865
• − Property taxes: −$598
• − Insurance: −$345
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$2,007
• Taxable income: $7,801
• Est. tax owed @ 24.0%: −$1,872
• After-tax cash flow: $6,589/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: Meriwether County
• NCES district ID: 1303630
• Math proficiency: 18% ▼ -11.00%
• Reading proficiency: 22% ▼ -6.00%
• Median HH income: $36,287
• Composite: 16.59/100
• National rank: #9175
• State rank: #144 of 174 in GA

Livability — Manchester

• Score: 55/100
• State rank: #525
• US rank: #23555

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manchester, GA
• Population (ZIP): 4,872

Population outlook (Meriwether County) Hauer SSP2

• Today (2025): 19,554 people
• By 2030: 18,482 · -5.5%
• By 2040: 16,204 · -17.1%
• By 2050: 14,030 · -28.2%
• By 2075: 9,539 · -51.2%
• By 2100: 6,136 · -68.6%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: Black 49% White 48% Two or more races 2%
• Common ancestry: Portuguese 1% Italian 1% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Meriwether

• 2024 margin: Strong R (+25.5) · D 37.1% · R 62.6%
• 2008→2024 swing: -20.0pp toward R · 2008: -5.4pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+20.6 2016: R+15.4 2012: R+5.7 2008: R+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.75%
• Current HPI: 298.3716
• 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

+360.0% since first listed

6 events — show timeline

• 2026-05-13 Pending — CBOR
• 2026-04-01 Price Changed $69,000 CBOR
• 2026-03-06 Price Changed $88,900 CBOR
• 2026-01-02 Price Changed $89,900 CBOR
• 2025-11-08 Listed $99,900 CBOR
• 2000-04-28 Sold (Public Records) $15,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $598 · -0.4% YoY. Source: county tax records.