515 Pine St · Thomasville, GA 31792

$60,000

2 bd · 1.0 ba · 881 sqft · SingleFamily public records · 239 Days on market

Built 1896 4,791 sqft lot $68/sqft · 27% below area Est $82k · 27% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL! Cozy 2BR/1Bath home near Downtown Thomasville. Many major renovations have been completed including new sub-flooring, roof and some utilities. Home will need further renovations. Priced to sell! Great opportunity to put YOUR finishing touches on a great home. Call your favorite agent TODAY for a closer look!

Key facts

• Major renovations
• New sub-flooring
• New roof

Tags

• NEW SUB-FLOORING
• NEW ROOF
• MAJOR RENOVATIONS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.2% vs local median 3.7% in Thomasville — 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 71/100 on livability (#77 in GA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: schools D, crime F, commute F.
• Thomasville City (town): math 29% / reading 37% proficiency, ranked #87 of 174 in GA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 203 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 213 units permitted in Thomas County in 2024 (72 in 5+ unit buildings).
• This rent runs 39% of the median local income ($50k/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 $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Thomas County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $15k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1896 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% 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 $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 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 1896 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F 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?
8. 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.
9. 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.
10. 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: 2.74% ✓
• Cap rate: 25.25%
• Cash-on-cash: 67.69%
• DSCR: 4.01
• GRM: 3.0

CMA / ARV

• ARV (median comp): $82,405
• List price: $60,000
• Delta: -27.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
145 Barnes St	0.34mi	2/1.0	750 (-15%)	0mo	$144,900	$193	59
500 Wolfe St	0.51mi	2/2.0	944 (+7%)	6mo	$177,000	$188	55
614 Wolfe St	0.65mi	3/1.5 (+1)	936 (+6%)	2mo	$57,000	$61	51
335 E Washington St	0.75mi	2/1.0	748 (-15%)	4mo	$120,000	$160	37
611 N Martin Luther King Dr	0.67mi	2/1.0	750 (-15%)	12mo	$144,900	$193	34

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

Projected returns pro-forma

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

5-year hold

• IRR: 33.4%
• Equity multiple: 2.41×
• Total profit: $23,714
• Equity at exit: $8,946

10-year hold

• IRR: 40.4%
• Equity multiple: 4.83×
• Total profit: $64,395
• Equity at exit: $5,188

Cash invested: $16,800 (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 31792

• Home prices YoY: -29.0%
• Active inventory: 203
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,645 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$13 /mo · $151/yr
• Insurance: −$25
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $521

Break-even live

Break-even rent $986

Max offer price $60,000

Occupancy floor 63%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
813 N Spair St Thomasville, GA	2.0	1.0	865	$1,500	$1.73	43d	1	0.90mi
403 Remington Ave Thomasville, GA	2.0	1.0	891	$1,575	$1.77	43d	1	0.95mi

Listing history 25 events

1. 2026-06-19
   days on market $60,000 Active 239 DOM
2. 2026-06-18
   days on market $60,000 Active 238 DOM
3. 2026-06-17
   days on market $60,000 Active 237 DOM
4. 2026-06-16
   days on market $60,000 Active 236 DOM
5. 2026-06-15
   days on market $60,000 Active 235 DOM
6. 2026-06-14
   days on market $60,000 Active 233 DOM
7. 2026-06-12
   days on market $60,000 Active 232 DOM
8. 2026-06-09
   days on market $60,000 Active 229 DOM
9. 2026-06-08
   days on market $60,000 Active 228 DOM
10. 2026-06-07
    days on market $60,000 Active 227 DOM
11. 2026-06-07
    days on market $60,000 Active 226 DOM
12. 2026-06-03
    days on market $60,000 Active 223 DOM
13. 2026-06-02
    days on market $60,000 Active 222 DOM
14. 2026-06-01
    days on market $60,000 Active 221 DOM
15. 2026-05-31
    days on market $60,000 Active 220 DOM
16. 2026-05-31
    days on market $60,000 Active 219 DOM
17. 2026-05-19
    price $60,000 327-char remark

    Show marketing remark (327 chars)

    INVESTOR SPECIAL! Cozy 2BR/1Bath home near Downtown Thomasville. Many major renovations have been completed including new sub-flooring, roof and some utilities. Home will need further renovations. Priced to sell! Great opportunity to put YOUR finishing touches on a great home. Call your favorite agent TODAY for a closer look!

18. 2026-01-13
    price $70,000 327-char remark

    Show marketing remark (327 chars)

    INVESTOR SPECIAL! Cozy 2BR/1Bath home near Downtown Thomasville. Many major renovations have been completed including new sub-flooring, roof and some utilities. Home will need further renovations. Priced to sell! Great opportunity to put YOUR finishing touches on a great home. Call your favorite agent TODAY for a closer look!

19. 2025-10-24
    listed $75,000 Active 327-char remark

    Show marketing remark (327 chars)

    INVESTOR SPECIAL! Cozy 2BR/1Bath home near Downtown Thomasville. Many major renovations have been completed including new sub-flooring, roof and some utilities. Home will need further renovations. Priced to sell! Great opportunity to put YOUR finishing touches on a great home. Call your favorite agent TODAY for a closer look!

20. 2025-05-09
    soldstatus $42,000 Closed 249-char remark

    Show marketing remark (249 chars)

    INVESTORS TAKE NOTE!!! GREAT DEAL ON THIS 2 BR 1 BA, Has the potential to rent for $800/month! Home need some TLC, also has central heat and air. . Don't miss this opportunity to get a great investment opportunity!!! Hurry before this one is gone!!!

21. 2025-04-30
    status Pending 249-char remark

    Show marketing remark (249 chars)

    INVESTORS TAKE NOTE!!! GREAT DEAL ON THIS 2 BR 1 BA, Has the potential to rent for $800/month! Home need some TLC, also has central heat and air. . Don't miss this opportunity to get a great investment opportunity!!! Hurry before this one is gone!!!

22. 2025-04-14
    listed $50,000 Active 249-char remark

    Show marketing remark (249 chars)

    INVESTORS TAKE NOTE!!! GREAT DEAL ON THIS 2 BR 1 BA, Has the potential to rent for $800/month! Home need some TLC, also has central heat and air. . Don't miss this opportunity to get a great investment opportunity!!! Hurry before this one is gone!!!

23. 2024-08-27
    price $59,000
24. 2024-07-17
    listed $69,900 Active
25. 1995-11-01
    soldstatus $163,000

ⓘ 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: $151 · $13/mo
• Projected year-2 tax: $552 · $46/mo
• Expected delta: +$401/yr (+$33/mo · 266.0%)

ⓘ 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 · 75% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,744
• − Mortgage interest: −$3,361
• − Property taxes: −$151
• − Insurance: −$5,418
• − Repairs & maintenance: −$1,580
• − Management: −$1,580
• − Depreciation: −$1,745
• Taxable income: $5,910
• Est. tax owed @ 24.0%: −$1,418
• After-tax cash flow: $4,835/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: Thomasville City
• NCES district ID: 1304950
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 37% ▼ -8.00%
• Median HH income: $31,040
• Composite: 26.85/100
• National rank: #7106
• State rank: #87 of 174 in GA

Livability — Thomasville

• Score: 71/100
• State rank: #77
• US rank: #6678

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomasville, GA
• County: Thomas County · 22,962 people
• City population: 22,962
• Metro: Thomasville, GA
• Population (ZIP): 22,962
• Household income: $50,460
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 1059.0

Population outlook (Thomas County) Hauer SSP2

• Today (2025): 45,303 people
• By 2030: 45,052 · -0.6%
• By 2040: 44,034 · -2.8%
• By 2050: 42,310 · -6.6%
• By 2075: 37,569 · -17.1%
• By 2100: 30,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: Black 49% White 47% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Thomas

• 2024 margin: Strong R (+24.1) · D 37.8% · R 61.9%
• 2008→2024 swing: -8.3pp toward R · 2008: -15.8pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+19.5 2016: R+21.8 2012: R+18.5 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.17%
• Current HPI: 228.0107
• Rent YoY: —
• Metro: Thomasville, 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

-63.2% since first listed

9 events — show timeline

• 2026-05-19 Price Changed $60,000 TABRMLS
• 2026-01-13 Price Changed $70,000 TABRMLS
• 2025-10-24 Listed $75,000 TABRMLS
• 2025-05-09 Sold (MLS) $42,000 TABRMLS
• 2025-04-30 Pending — TABRMLS
• 2025-04-14 Listed $50,000 TABRMLS
• 2024-08-27 Price Changed $59,000 TABRMLS
• 2024-07-17 Listed $69,900 TABRMLS
• 1995-11-01 Sold (Public Records) $163,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $151 · -0.7% YoY. Source: county tax records.