362 Hemlock Ln · Locust Grove, GA 30248

$82,500

3 bd · 2.0 ba · 1,288 sqft · Manufactured public records · 51 Days on market

Built 1989 $64/sqft · 58% below area

---

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
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special! Situated on approx. 0.44acre lot with existing utilities in place, this property offers exceptional potential for the right buyer. The current mobile home requires renovation but presents an opportunity for restoration or replacement. Additional features include a detached garage with a loft in need of repair -offering even more value-add potential. Conveniently located near Locust Grove Lake. Ideal for investors, flippers, or buyers looking to build or bring in a new home. Property is being SOLD AS-IS.

Key facts

• Loft apartment
• Detached garage
• 0.44acre lot

Tags

• DETACHED GARAGE
• LOFT APARTMENT
• 0.44ACRE LOT

Property features AI

Finance

• Other: Public records list living area as 1,288 square feet
• Financial info: Listed As-Is; Accepted financing: Cash, Conventional
• HOA & community: No homeowners association

Exterior

• Parking: Detached, off-street garage
• Utilities: Public water; Public sewer; Electricity available; High-speed internet available
• Home design: Manufactured single-family residence; Built in 1989
• Construction: Composition roof; Other construction materials; Manufactured house structure
• Exterior features: Level lot

Interior

• Kitchen: Cooktop; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One-level living; Other interior features
• Laundry & utility: Mud room; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $82k.

Deal economics

• At list price, monthly cash flow is $891 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $80k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.2% vs local median 4.1% in Locust Grove — 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 62/100 on livability (#315 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Unity Grove Elementary School (math 33% / reading 30%, grade F, #612 of 1,228 statewide, top 50%, 838 students, 53% FRL); Locust Grove Middle (math 30% / reading 35%, grade F, #221 of 470 statewide, top 48%, 1,103 students, 51% FRL); Locust Grove High (math 7% / reading 33%, grade F, #232 of 424 statewide, top 56%, 1,637 students, 41% FRL).
• Market conditions: Rents rising (+2.2%/yr); 499 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $570 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Henry County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $16k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.
• Climate carrying-cost: major wind risk, 27% 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 $80,025 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.37% ✓
• Cap rate: 19.25%
• Cash-on-cash: 46.26%
• DSCR: 3.06
• GRM: 3.5

CMA / ARV

• ARV (median comp): $197,878
• List price: $82,500
• Delta: -58.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.16% rent growth · sell at horizon

5-year hold

• IRR: 42.5%
• Equity multiple: 2.81×
• Total profit: $41,792
• Equity at exit: $12,301

10-year hold

• IRR: 48.2%
• Equity multiple: 5.47×
• Total profit: $103,142
• Equity at exit: $7,133

Cash invested: $23,100 (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 30248

• Home prices YoY: -21.0%
• Rents YoY: 2.2%
• Active inventory: 499
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,956 high
• Mortgage (P&I): −$433
• Tax from tax record: −$188 /mo · $2,255/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $891

Break-even live

Break-even rent $829

Max offer price $82,500

Occupancy floor 49%

Sensitivity live

Price	-10% $937	-5% $914	+0% $891	+5% $867	+10% $844
Rent	-10% $736	-5% $813	+0% $891	+5% $968	+10% $1,045
Rate	-1.0pp $932	-0.5pp $912	base $891	+0.5pp $869	+1.0pp $847

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
329 Kellys Walk Locust Grove, GA	3.0	2.0	1550	$1,769	$1.14	4d	1	0.24mi
2237 Ross Ln Locust Grove, GA	3.0	2.0	1530	$1,800	$1.18	14d	1	0.29mi
308 Kellys Walk Locust Grove, GA	3.0	2.0	1319	$1,810	$1.37	0d	1	0.29mi
125 Waters Edge Dr Locust Grove, GA	3.0	2.0	1320	$1,825	$1.38	25d	1	0.32mi
163 Brentwood Ln Locust Grove, GA	4.0	3.0	1602	$1,650	$1.03	45d	1	0.55mi
1221 Browns Country Ln Locust Grove, GA	3.0	2.0	1379	$1,759	$1.28	45d	1	0.65mi
239 Kings Cv Locust Grove, GA	3.0	2.0	1479	$1,570	$1.06	14d	1	0.67mi
384 Jasmine Dr Locust Grove, GA	3.0	2.5	1719	$1,880	$1.09	45d	1	0.68mi
206 Nadia Ct Locust Grove, GA	3.0	2.0	1557	$1,785	$1.15	25d	1	1.01mi
1320 Elmstead Pl Locust Grove, GA	3.0–5.0	2.0–3.0	2245	$2,104	$0.94	0d	1	1.34mi

Listing history 27 events

1. 2026-06-21
   days on market $82,500 Active 51 DOM
2. 2026-06-18
   days on market $82,500 Active 48 DOM
3. 2026-06-17
   days on market $82,500 Active 47 DOM
4. 2026-06-16
   days on market $82,500 Active 46 DOM
5. 2026-06-15
   days on market $82,500 Active 45 DOM
6. 2026-06-13
   days on market $82,500 Active 43 DOM
7. 2026-06-09
   days on market $82,500 Active 39 DOM
8. 2026-06-08
   statusdays on market $82,500 Active 38 DOM
9. 2026-06-07
   pricestatusdays on market $82,500 Price Change 37 DOM
10. 2026-06-04
    days on market $98,500 Active 34 DOM
11. 2026-06-03
    days on market $98,500 Active 33 DOM
12. 2026-06-02
    days on market $98,500 Active 32 DOM
13. 2026-06-01
    days on market $98,500 Active 31 DOM
14. 2026-05-31
    days on market $98,500 Active 30 DOM
15. 2026-04-23
    listed $98,500 New 527-char remark
16. 2025-11-30
    historical
17. 2025-10-30
    historical
18. 2025-10-29
    historical
19. 2025-10-26
    listed $125,000 New
20. 2025-10-09
    listed $145,000 Active
21. 2025-10-09
    listed $145,000 New
22. 2025-08-08
    listed $135,000
23. 2025-08-08
    historical
24. 1995-07-17
    soldstatus $64,020
25. 1992-11-06
    soldstatus $56,228
26. 1990-12-18
    soldstatus $57,100
27. 1989-09-14
    soldstatus $57,000

ⓘ 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: $2,255 · $188/mo
• Projected year-2 tax: $2,255 · $188/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $23,476
• − Mortgage interest: −$4,621
• − Property taxes: −$2,255
• − Insurance: −$412
• − Repairs & maintenance: −$1,878
• − Management: −$1,878
• − Depreciation: −$2,400
• Taxable income: $10,031
• Est. tax owed @ 24.0%: −$2,407
• After-tax cash flow: $8,279/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: Henry County
• NCES district ID: 1302820
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $62,594
• Composite: 26.13/100
• National rank: #7279
• State rank: #89 of 174 in GA

Livability — Locust Grove

• Score: 62/100
• State rank: #315
• US rank: #17034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Locust Grove, GA
• County: Henry County · 316,359 people
• City population: 36,038
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 36,038
• Household income: $83,823
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 485.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 249,041 people
• By 2030: 264,369 · +6.2%
• By 2040: 294,459 · +18.2%
• By 2050: 322,249 · +29.4%
• By 2075: 392,310 · +57.5%
• By 2100: 437,836 · +75.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 51% Black 37% Hispanic / Latino 9% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Slovak 2% Italian 2% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · Henry

• 2024 margin: Strong D (+29.7) · D 64.5% · R 34.9%
• 2008→2024 swing: +37.1pp toward D · 2008: -7.5pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+20.5 2016: D+4.3 2012: R+3.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.09%
• Current HPI: 203.5358
• Rent YoY: ▲ 2.16%
• Metro: Atlanta-Sandy Springs-Alpharetta, 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

+44.7% since first listed

14 events — show timeline

• 2026-06-05 Price Changed $82,500 GAMLS
• 2026-04-23 Listed $98,500 GAMLS
• 2025-11-30 Listing Removed — GAMLS
• 2025-10-30 Listing Removed — FMLS
• 2025-10-29 Listing Removed — GAMLS
• 2025-10-26 Listed $125,000 GAMLS
• 2025-10-09 Listed $145,000 GAMLS
• 2025-10-09 Listed $145,000 FMLS
• 2025-08-08 Listing Removed — FMLS
• 2025-08-08 Listed $135,000 FMLS
• 1995-07-17 Sold (Public Records) $64,020 Public Records
• 1992-11-06 Sold (Public Records) $56,228 Public Records
• 1990-12-18 Sold (Public Records) $57,100 Public Records
• 1989-09-14 Sold (Public Records) $57,000 Public Records

Property tax history

+16.0%/yr

Latest (2025): $2,255 · +920.2% YoY. Source: county tax records.