5228 Old Mike Padgett Hwy · Augusta-Richmond County consolidated government (balance), GA 30815

$190,000

5 bd · 3.0 ba · 2,432 sqft · Manufactured public records · 41 Days on market

Built 2024 Good condition 1.40 ac lot $78/sqft · 9427% 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 +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.6/10.0
• Condition / age +3.8/5.0
• Livability +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

This home is rented at this time. Pictures are of vacant unit before tenants. Beautiful home at an extremely great price on an acre of land. 3 bedrooms and 2 full baths. Open Living, Dining and Kitchen area. Separate laundry area that can open into the Owners Bath. You will be more than pleased with the home and its layout. Kitchen is large and opens to Dining Room. Living area is big enough for oversized furniture and plenty of space for children. This home is just far enough to enjoy peace and quiet but close enough to grocery stores, hospitals and shopping. This is exactly what you have been looking for - beautiful home at the right price! Please verify schools with Richmond County Boar

Key facts

• Acre of land
• Close to hospitals
• Owners bath

Tags

• ACRE OF LAND
• SEPARATE LAUNDRY AREA
• OWNERS BATH
• CLOSE TO GROCERY STORES
• CLOSE TO HOSPITALS
• CLOSE TO SHOPPING

Property features AI

Finance

• Financial info: Land is leased

Exterior

• Parking: Gravel parking
• Security: Smoke detector(s)
• Utilities: Public water; Septic tank sewer; Cable available
• Home design: Manufactured home; Single-story
• Construction: Vinyl siding; Composition roof; Crawl space foundation; Built as a manufactured home
• Exterior features: Lot includes 1.4 acres; Lot classified as 'Other'

Interior

• Kitchen: Refrigerator; Range; Dishwasher
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Refrigerator; Range; Dishwasher; Electric water heater; 7 total rooms; No basement (crawl space)
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath manufactured listed at $190k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $221 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 5.3% in Augusta-Richmond County consolidated government (balance) — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Richmond County (urban): math 12% / reading 20% proficiency, ranked #154 of 174 in GA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hephzibah Elementary School (math 12% / reading 17%, grade F, #996 of 1,228 statewide, top 83%, 375 students, 98% FRL); Hephzibah Middle School (math 12% / reading 21%, grade F, #388 of 470 statewide, top 83%, 517 students, 98% FRL); Hephzibah High School (math 2% / reading 12%, grade F, #385 of 424 statewide, top 92%, 1,072 students, 98% FRL) — zoned schools average 98% FRL vs 72% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.7%/yr); 370 active listings in the ZIP; 561 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($70k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($184k) 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 73% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.48%
• DSCR: 1.29
• GRM: 7.9

CMA / ARV

• ARV (median comp): $1,257
• List price: $190,000
• Delta: 15010.20%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.58×
• Total profit: $-22,559
• Equity at exit: $28,330

10-year hold

• IRR: -8.4%
• Equity multiple: 0.55×
• Total profit: $-24,041
• Equity at exit: $16,428

Cash invested: $53,200 (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 30815

• Home prices YoY: -24.2%
• Rents YoY: -0.7%
• Active inventory: 370
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,009 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$224 /mo · $2,689/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $221

Break-even live

Break-even rent $1,729

Max offer price $190,000

Occupancy floor 84%

Sensitivity live

Price	-10% $328	-5% $274	+0% $221	+5% $167	+10% $113
Rent	-10% $62	-5% $141	+0% $221	+5% $300	+10% $379
Rate	-1.0pp $316	-0.5pp $269	base $221	+0.5pp $171	+1.0pp $121

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $190,000 Active 41 DOM
2. 2026-06-18
   days on market $190,000 Active 38 DOM
3. 2026-06-17
   days on market $190,000 Active 37 DOM
4. 2026-06-16
   days on market $190,000 Active 36 DOM
5. 2026-06-15
   days on market $190,000 Active 35 DOM
6. 2026-06-14
   days on market $190,000 Active 33 DOM
7. 2026-06-10
   days on market $190,000 Active 30 DOM
8. 2026-06-09
   days on market $190,000 Active 29 DOM
9. 2026-06-08
   days on market $190,000 Active 28 DOM
10. 2026-06-07
    days on market $190,000 Active 27 DOM
11. 2026-06-03
    days on market $190,000 Active 23 DOM
12. 2026-06-02
    days on market $190,000 Active 22 DOM
13. 2026-06-01
    days on market $190,000 Active 21 DOM
14. 2026-05-31
    days on market $190,000 Active 20 DOM
15. 2026-05-30
    days on market $190,000 Active 19 DOM
16. 2026-05-11
    historical
17. 2026-03-02
    listed $190,000 Active
18. 2026-03-02
    listed $190,000 Active 754-char remark
19. 2025-06-30
    historical
20. 2025-06-30
    historical
21. 2025-06-04
    listed $169,900 Active
22. 2025-06-04
    listed $169,900
23. 2021-12-08
    soldstatus $170,000

ⓘ 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: $2,689 · $224/mo
• Projected year-2 tax: $2,689 · $224/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% 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: $24,102
• − Mortgage interest: −$10,643
• − Property taxes: −$2,689
• − Insurance: −$1,748
• − Repairs & maintenance: −$1,928
• − Management: −$1,928
• − Depreciation: −$5,527
• Taxable loss: −$361
• Est. tax savings @ 24.0%: +$87
• After-tax cash flow: $2,734/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 · 12 photos

Good 75/100 Cosmetic rehab

This home is in good condition with a good layout and ample space. It is move-in ready and has the potential for further value enhancement through minor cosmetic updates.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Improves curb appeal and enhances property value
• Both New flooring in bathrooms — Enhances aesthetics and functionality
• Both New kitchen backsplash — Enhances aesthetics and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Improves curb appeal and enhances property value ↑
• Both New flooring in bathrooms — Enhances aesthetics and functionality ↑
• Both New kitchen backsplash — Enhances aesthetics and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Richmond County
• NCES district ID: 1304380
• Math proficiency: 12% ▼ -9.00%
• Reading proficiency: 20% ▼ -6.00%
• Median HH income: $38,069
• Composite: 13.43/100
• National rank: #9524
• State rank: #154 of 174 in GA

Livability — Augusta-Richmond County consolidated government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Augusta-Richmond County consolidated government (balance), GA
• County: Richmond County · 190,917 people
• City population: 154,035
• Metro: Augusta-Richmond County, GA-SC
• Population (ZIP): 44,109
• Household income: $70,202
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 867.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 200,753 people
• By 2030: 200,232 · -0.3%
• By 2040: 196,813 · -2.0%
• By 2050: 190,347 · -5.2%
• By 2075: 172,496 · -14.1%
• By 2100: 146,284 · -27.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 27% Two or more races 5% Hispanic / Latino 4%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Korean 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+36.1) · D 67.8% · R 31.7%
• 2008→2024 swing: +4.3pp toward D · 2008: 31.8pp · 2024: 36.1pp
• All cycles: 2024: D+36.1 2020: D+37.2 2016: D+32.4 2012: D+33.8 2008: D+31.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.74%
• Current HPI: 162.4074
• Rent YoY: ▼ -0.71%
• Metro: Augusta-Richmond County, GA-SC
• 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

8 events — show timeline

• 2026-05-11 Listing Removed — Hive MLS
• 2026-03-02 Listed $190,000 Hive MLS
• 2026-03-02 Listed $190,000 Hive MLS
• 2025-06-30 Listing Removed — Hive MLS
• 2025-06-30 Listing Removed — Hive MLS
• 2025-06-04 Listed $169,900 Hive MLS
• 2025-06-04 Listed $169,900 Hive MLS
• 2021-12-08 Sold (Public Records) $170,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,689 · +2.3% YoY. Source: county tax records.