1114 Neal Rd · Homer, GA 30530

$180,000

3 bd · 2.0 ba · 1,632 sqft · Manufactured public records · 2 Days on market

Built 2002 5.06 ac lot

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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 +21.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.3/10.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Located at 1114 Neal Rd, this 3-bedroom, 2-bath double wide sits on 5.06 acres and offers 1,632 sqft with plenty of room to make it your own. The home needs work but has great potential for someone looking for a fixer-upper, investment property, or a place with land and privacy. The property offers peaceful surroundings, open space, and is conveniently located near shopping, dining, downtown Commerce, Tanger Outlets, and local attractions. It's also a short drive to Athens and Northeast Georgia outdoor destinations. Cash only. Property is being sold as-is.

Key facts

• Open space
• 5.06 acres
• 5.06 acre lot

Tags

• 5.06 ACRES
• OPEN SPACE
• SHORT DRIVE TO ATHENS

Property features AI

Finance

• Other: Approximately 5.06-acre lot; Located at 1114 Neal Rd, Commerce, GA
• Financial info: Listing offered as-is; Pre-foreclosure condition; Cash offers only
• HOA & community: No association

Exterior

• Parking: Parking pad (open parking)
• Utilities: Public water; Septic tank; Electricity available; Cable available; Phone available
• Home design: Manufactured single-family residence; Manufactured house; Built in 2002; One story
• Construction: Vinyl siding; Composition roof; No basement
• Exterior features: Level lot

Interior

• Kitchen: Convection oven; Cooktop
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Split bedroom floor plan; One-level living
• Laundry & utility: Mud room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/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 $168k (6.8% below list).
• Recommended offer: $168k (6.8% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 2.3% in Homer — 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 67/100 on livability (#178 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Franklin County (rural): math 38% / reading 35% proficiency, ranked #61 of 174 in GA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklin County Middle School (math 32% / reading 35%, grade F, #206 of 470 statewide, top 45%, 826 students, 60% FRL).
• Market conditions: 72 active listings in the ZIP; 163 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $91k; list at $180k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,707 (6.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.93% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 28.7%
• Equity multiple: 3.26×
• Total profit: $114,150
• Equity at exit: $162,158

10-year hold

• IRR: 24.9%
• Equity multiple: 7.41×
• Total profit: $323,254
• Equity at exit: $349,700

Cash invested: $50,400 (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 30530

• Home prices YoY: 12.5%
• Active inventory: 72
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,677 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$52 /mo · $619/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $254

Break-even live

Break-even rent $1,355

Max offer price $180,000

Occupancy floor 80%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-15
   status Under Contract
2. 2026-05-04
   listed $180,000 New
3. 2019-04-01
   soldstatus $90,700
4. 2015-05-11
   soldstatus $89,000
5. 2006-11-09
   soldstatus $65,000
6. 2003-07-19
   soldstatus $59,000
7. 2003-06-18
   soldstatus $38,500
8. 2003-06-16
   soldstatus $20,000
9. 2002-09-03
   soldstatus $40,836
10. 1991-01-26
    soldstatus $11,400

ⓘ 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: $619 · $52/mo
• Projected year-2 tax: $1,656 · $138/mo
• Expected delta: +$1,037/yr (+$86/mo · 167.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,125
• − Mortgage interest: −$10,083
• − Property taxes: −$619
• − Insurance: −$900
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − Depreciation: −$5,236
• Taxable income: $66
• Est. tax owed @ 24.0%: −$16
• After-tax cash flow: $3,036/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: Franklin County
• NCES district ID: 1302250
• Math proficiency: 38% ▼ -1.00%
• Reading proficiency: 35% ▼ -3.00%
• Median HH income: $35,985
• Composite: 30.28/100
• National rank: #6281
• State rank: #61 of 174 in GA

Livability — Homer

• Score: 67/100
• State rank: #178
• US rank: #11191

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,360

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 22,625 people
• By 2030: 22,725 · +0.4%
• By 2040: 22,806 · +0.8%
• By 2050: 22,713 · +0.4%
• By 2075: 22,514 · -0.5%
• By 2100: 20,768 · -8.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 7% Hispanic / Latino 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Slovak 3% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam, South Korea
• Languages at home: 91% English-only · Spanish 4% German/W. Germanic 3% Vietnamese 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+72.6) · D 13.6% · R 86.2%
• 2008→2024 swing: -21.1pp toward R · 2008: -51.5pp · 2024: -72.6pp
• All cycles: 2024: R+72.6 2020: R+69.5 2016: R+68.6 2012: R+59.5 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 40.98%
• Current HPI: 367.9851
• 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

+1478.9% since first listed

10 events — show timeline

• 2026-05-15 Pending — GAMLS
• 2026-05-04 Listed $180,000 GAMLS
• 2019-04-01 Sold (Public Records) $90,700 Public Records
• 2015-05-11 Sold (Public Records) $89,000 Public Records
• 2006-11-09 Sold (Public Records) $65,000 Public Records
• 2003-07-19 Sold (Public Records) $59,000 Public Records
• 2003-06-18 Sold (Public Records) $38,500 Public Records
• 2003-06-16 Sold (Public Records) $20,000 Public Records
• 2002-09-03 Sold (Public Records) $40,836 Public Records
• 1991-01-26 Sold (Public Records) $11,400 Public Records

Property tax history

+4.9%/yr

Latest (2025): $619 · +21.7% YoY. Source: county tax records.