5406, 10 Worthington St Unit 06-10 · Lake Park, GA 31632

$499,000

12 bd · 10.0 ba · 2,184 sqft · MultiFamily · 94 Days on market

Built 1984 Average condition 0.46 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 +14.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• DSCR +4.3/10.0
• 1% rule +4.0/10.0
• Livability +3.5/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great Investment Opportunity in very popular Twin Lakes. 2 duplexes. 4 units. Each unit is 2184 square feet. 3 bedrooms and 2 . 5 baths. Tile in kitchen with refrigerator and stove. LVP throughout. Laundry room. Large backyard with patio. .46 acre lot. Great rental history. Extremely convenient location. 1 minute to Lake Park shopping, restaurants, and I-75. Boating, fishing, camping are all available in this slow pace lake community. Wild Adventures Theme Park is also easily accessible. One could live in a unit and rent the others. Great opportunity!!! One of the listing agents is related to the seller.

Key facts

• Lake community
• Tile in kitchen
• Laundry room

Tags

• TILE IN KITCHEN
• LARGE BACKYARD
• LAUNDRY ROOM
• CONVENIENT LOCATION
• LAKE COMMUNITY
• ACCESSIBLE TO THEME PARK

What this means for you Summary

Snapshot

• This is a 2 × 6-bed/?-bath units multifamily listed at $499k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $85 ($1k/yr) — positive. Per door: $43/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $447k (10.4% below list).
• Recommended offer: $447k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.9% in Lake Park — 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 69/100 on livability (#119 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools D+, amenities F, commute F.
• Lowndes County (rural): math 59% / reading 52% proficiency, ranked #8 of 174 in GA (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 189 active listings in the ZIP; solid renter incomes; 896 units permitted in Lowndes County in 2024 (0 in 5+ unit buildings).
• At $4,473/mo this rent would consume 64% of the median local household income ($84k/yr) (locally 73% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• Lowndes County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($454k) is reasonable based on typical stale-listing flexibility.

Recommended offer $447,300 (10.4% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 9.3

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: 24.8%
• Equity multiple: 2.98×
• Total profit: $277,262
• Equity at exit: $449,539

10-year hold

• IRR: 21.9%
• Equity multiple: 6.81×
• Total profit: $812,358
• Equity at exit: $969,447

Cash invested: $139,720 (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 31632

• Home prices YoY: 8.1%
• Active inventory: 189
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $4,473 medium
• Mortgage (P&I): −$2,617
• Tax est. 1.5%: −$624 /mo · $7,485/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$939
• Net cashflow: $85

Break-even live

Break-even rent $4,365

Max offer price $499,000

Occupancy floor 93%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	6	—	$4,472
Total (2 units)			$4,473

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $499,000 Active 94 DOM
2. 2026-06-18
   days on market $499,000 Active 93 DOM
3. 2026-06-17
   days on market $499,000 Active 92 DOM
4. 2026-06-16
   days on market $499,000 Active 91 DOM
5. 2026-06-15
   days on market $499,000 Active 90 DOM
6. 2026-06-14
   days on market $499,000 Active 88 DOM
7. 2026-06-13
   days on market $499,000 Active 87 DOM
8. 2026-06-10
   days on market $499,000 Active 85 DOM
9. 2026-06-09
   days on market $499,000 Active 84 DOM
10. 2026-06-08
    days on market $499,000 Active 83 DOM
11. 2026-06-07
    days on market $499,000 Active 82 DOM
12. 2026-06-05
    days on market $499,000 Active 79 DOM
13. 2026-06-03
    days on market $499,000 Active 78 DOM
14. 2026-06-02
    days on market $499,000 Active 77 DOM
15. 2026-06-01
    days on market $499,000 Active 76 DOM
16. 2026-05-31
    days on market $499,000 Active 75 DOM
17. 2026-05-30
    days on market $499,000 Active 74 DOM
18. 2026-03-18
    listed $499,000 Active 611-char remark

    Show marketing remark (611 chars)

    Great Investment Opportunity in very popular Twin Lakes. 2 duplexes. 4 units. Each unit is 2184 square feet. 3 bedrooms and 2 . 5 baths. Tile in kitchen with refrigerator and stove. LVP throughout. Laundry room. Large backyard with patio. .46 acre lot. Great rental history. Extremely convenient location. 1 minute to Lake Park shopping, restaurants, and I-75. Boating, fishing, camping are all available in this slow pace lake community. Wild Adventures Theme Park is also easily accessible. One could live in a unit and rent the others. Great opportunity!!! One of the listing agents is related to the seller.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $53,676
• − Mortgage interest: −$27,952
• − Property taxes: −$7,485
• − Insurance: −$2,495
• − Repairs & maintenance: −$4,294
• − Management: −$4,294
• − Depreciation: −$14,516
• Taxable loss: −$7,360
• Est. tax savings @ 24.0%: +$1,766
• After-tax cash flow: $2,789/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 · 10 photos

Average 55/100 Cosmetic rehab

This property offers a good investment opportunity with a cosmetic rehab level. It requires minor repairs and maintenance, and updating the paint and landscaping can significantly increase its value.

Repairs flagged

• Minor paint — some discoloration on walls
• Minor landscaping — overgrown areas

Value-add opportunities

• Both painting — Fresh paint can enhance curb appeal and interior aesthetics
• Both landscaping — Well-maintained landscaping can improve curb appeal and attract potential tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
paint · some discoloration on walls	Minor	$500–3,000
landscaping · overgrown areas	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both painting — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both landscaping — Well-maintained landscaping can improve curb appeal and attract potential tenants ↑

ⓘ 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: Lowndes County
• NCES district ID: 1303390
• Math proficiency: 59% ▼ -1.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $48,221
• Composite: 47.21/100
• National rank: #2317
• State rank: #8 of 174 in GA

Livability — Lake Park

• Score: 69/100
• State rank: #119
• US rank: #8632

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lowndes County · 107,801 people
• Metro: Valdosta, GA
• Population (ZIP): 15,942
• Household income: $83,946
• Rent vs Own: 16.9% rent · 83.1% own
• Severe rent burden: 73.0

Population outlook (Lowndes County) Hauer SSP2

• Today (2025): 120,348 people
• By 2030: 123,469 · +2.6%
• By 2040: 128,482 · +6.8%
• By 2050: 131,907 · +9.6%
• By 2075: 139,080 · +15.6%
• By 2100: 133,649 · +11.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 12% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Lowndes

• 2024 margin: R (+18.0) · D 40.8% · R 58.8%
• 2008→2024 swing: -8.6pp toward R · 2008: -9.4pp · 2024: -18.0pp
• All cycles: 2024: R+18.0 2020: R+12.0 2016: R+18.2 2012: R+10.5 2008: R+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.44%
• Current HPI: 259.01
• Rent YoY: —
• Metro: Valdosta, 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

1 event — show timeline

• 2026-03-18 Listed $499,000 SGMLS