203 Old Mill Rd · Adairsville, GA 30171

$249,900

3 bd · 2.0 ba · 1,600 sqft · SingleFamily public records · 17 Days on market

Built 2005 1.78 ac lot $156/sqft · 18% below area Est $303k · 18% under ↓ 15% since listing

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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 +26.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.9/10.0
• 1% rule +6.4/10.0
• Livability +3.6/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Sitting on 1.78+- acres, this inviting 3-bedroom, 2-bath home offers a perfect blend of comfort and functionality with beautiful hardwood floors and a spacious open floor plan ideal for everyday living and entertaining. The large kitchen features durable tile flooring and flows seamlessly into a cozy breakfast nook, creating a warm and welcoming space. The primary suite provides a relaxing retreat with a private bath that includes dual sinks and a walk-in closet. Additional bedrooms are generously sized, offering plenty of space for family, guests, or a home office. A dedicated laundry room with tile flooring adds convenience, while the covered back deck is perfect for enjoying the outdoors year-round. The home also includes a fully studded basement ready for your personal touch, along with the added durability and peace of mind of a metal roof. Furniture in photos will not remain with home.

Key facts

• Breakfast nook
• Dual sinks
• Open floor plan

Tags

• HARDWOOD FLOORS
• OPEN FLOOR PLAN
• LARGE KITCHEN
• BREAKFAST NOOK
• PRIVATE BATH
• DUAL SINKS

Property features AI

Exterior

• Parking: Attached garage (2 car) facing the front; Kitchen-level garage access
• Utilities: Public water; Septic sewer; Electric service (110 volts); Electricity available; Phone available; Water available
• Home design: One-level home; Resale property
• Construction: Brick on all four sides; Metal roof; Block foundation; Below-grade unfinished area present
• Exterior features: Front porch; Basement with exterior entry, full and unfinished, walk-out access

Interior

• Kitchen: Stained cabinets with laminate countertops; Electric range; Refrigerator
• Bedrooms: Three bedrooms on the main level; Primary bedroom located on the main level
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms; Primary bathroom with tub/shower combo
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: No shared/common walls; Other interior features
• Laundry & utility: Main level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $246k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.1% in Adairsville — 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 72/100 on livability (#70 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F.
• Bartow County (rural): math 33% / reading 34% proficiency, ranked #70 of 174 in GA (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pine Log Elementary (math 47% / reading 42%, grade F, #336 of 1,228 statewide, top 29%, 405 students, 52% FRL); Adairsville Middle School (math 36% / reading 40%, grade F, #159 of 470 statewide, top 34%, 843 students, 49% FRL); Adairsville High School (math 24% / reading 18%, grade F, #225 of 424 statewide, top 54%, 1,170 students, 44% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 82 active listings in the ZIP; 1,618 units permitted in Bartow County in 2024 (265 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,151 (1.5% 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: 1.14% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.96%
• DSCR: 1.49
• GRM: 7.3

CMA / ARV

• ARV (median comp): $303,336
• List price: $249,900
• Delta: -17.62%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Old Mill Rd	0.00mi	3/2.0	1,600 (0%)	1mo	$230,000	$144	99

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

Projected returns pro-forma

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

5-year hold

• IRR: 32.3%
• Equity multiple: 3.53×
• Total profit: $176,781
• Equity at exit: $225,130

10-year hold

• IRR: 27.9%
• Equity multiple: 7.98×
• Total profit: $488,540
• Equity at exit: $485,501

Cash invested: $69,972 (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 30171

• Home prices YoY: 6.7%
• Active inventory: 82
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,860 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$206 /mo · $2,472/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$601
• Net cashflow: $639

Break-even live

Break-even rent $2,051

Max offer price $249,900

Occupancy floor 73%

Sensitivity live

Price	-10% $781	-5% $710	+0% $639	+5% $568	+10% $498
Rent	-10% $413	-5% $526	+0% $639	+5% $752	+10% $865
Rate	-1.0pp $765	-0.5pp $703	base $639	+0.5pp $574	+1.0pp $508

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-14
   status Pending 904-char remark
2. 2026-05-10
   status Under Contract 904-char remark

   Show marketing remark (904 chars)

   Sitting on 1.78+- acres, this inviting 3-bedroom, 2-bath home offers a perfect blend of comfort and functionality with beautiful hardwood floors and a spacious open floor plan ideal for everyday living and entertaining. The large kitchen features durable tile flooring and flows seamlessly into a cozy breakfast nook, creating a warm and welcoming space. The primary suite provides a relaxing retreat with a private bath that includes dual sinks and a walk-in closet. Additional bedrooms are generously sized, offering plenty of space for family, guests, or a home office. A dedicated laundry room with tile flooring adds convenience, while the covered back deck is perfect for enjoying the outdoors year-round. The home also includes a fully studded basement ready for your personal touch, along with the added durability and peace of mind of a metal roof. Furniture in photos will not remain with home.

3. 2026-05-10
   historical Active Under Contract 904-char remark

   Show marketing remark (904 chars)

   Sitting on 1.78+- acres, this inviting 3-bedroom, 2-bath home offers a perfect blend of comfort and functionality with beautiful hardwood floors and a spacious open floor plan ideal for everyday living and entertaining. The large kitchen features durable tile flooring and flows seamlessly into a cozy breakfast nook, creating a warm and welcoming space. The primary suite provides a relaxing retreat with a private bath that includes dual sinks and a walk-in closet. Additional bedrooms are generously sized, offering plenty of space for family, guests, or a home office. A dedicated laundry room with tile flooring adds convenience, while the covered back deck is perfect for enjoying the outdoors year-round. The home also includes a fully studded basement ready for your personal touch, along with the added durability and peace of mind of a metal roof. Furniture in photos will not remain with home.

4. 2026-05-10
   status Active 904-char remark

   Show marketing remark (904 chars)

   Sitting on 1.78+- acres, this inviting 3-bedroom, 2-bath home offers a perfect blend of comfort and functionality with beautiful hardwood floors and a spacious open floor plan ideal for everyday living and entertaining. The large kitchen features durable tile flooring and flows seamlessly into a cozy breakfast nook, creating a warm and welcoming space. The primary suite provides a relaxing retreat with a private bath that includes dual sinks and a walk-in closet. Additional bedrooms are generously sized, offering plenty of space for family, guests, or a home office. A dedicated laundry room with tile flooring adds convenience, while the covered back deck is perfect for enjoying the outdoors year-round. The home also includes a fully studded basement ready for your personal touch, along with the added durability and peace of mind of a metal roof. Furniture in photos will not remain with home.

5. 2026-05-08
   status Pending Offer Approval 904-char remark

   Show marketing remark (904 chars)

   Sitting on 1.78+- acres, this inviting 3-bedroom, 2-bath home offers a perfect blend of comfort and functionality with beautiful hardwood floors and a spacious open floor plan ideal for everyday living and entertaining. The large kitchen features durable tile flooring and flows seamlessly into a cozy breakfast nook, creating a warm and welcoming space. The primary suite provides a relaxing retreat with a private bath that includes dual sinks and a walk-in closet. Additional bedrooms are generously sized, offering plenty of space for family, guests, or a home office. A dedicated laundry room with tile flooring adds convenience, while the covered back deck is perfect for enjoying the outdoors year-round. The home also includes a fully studded basement ready for your personal touch, along with the added durability and peace of mind of a metal roof. Furniture in photos will not remain with home.

6. 2026-05-04
   price $249,900 904-char remark

   Show marketing remark (904 chars)

   Sitting on 1.78+- acres, this inviting 3-bedroom, 2-bath home offers a perfect blend of comfort and functionality with beautiful hardwood floors and a spacious open floor plan ideal for everyday living and entertaining. The large kitchen features durable tile flooring and flows seamlessly into a cozy breakfast nook, creating a warm and welcoming space. The primary suite provides a relaxing retreat with a private bath that includes dual sinks and a walk-in closet. Additional bedrooms are generously sized, offering plenty of space for family, guests, or a home office. A dedicated laundry room with tile flooring adds convenience, while the covered back deck is perfect for enjoying the outdoors year-round. The home also includes a fully studded basement ready for your personal touch, along with the added durability and peace of mind of a metal roof. Furniture in photos will not remain with home.

7. 2026-05-04
   price $249,900 904-char remark

   Show marketing remark (904 chars)

   Sitting on 1.78+- acres, this inviting 3-bedroom, 2-bath home offers a perfect blend of comfort and functionality with beautiful hardwood floors and a spacious open floor plan ideal for everyday living and entertaining. The large kitchen features durable tile flooring and flows seamlessly into a cozy breakfast nook, creating a warm and welcoming space. The primary suite provides a relaxing retreat with a private bath that includes dual sinks and a walk-in closet. Additional bedrooms are generously sized, offering plenty of space for family, guests, or a home office. A dedicated laundry room with tile flooring adds convenience, while the covered back deck is perfect for enjoying the outdoors year-round. The home also includes a fully studded basement ready for your personal touch, along with the added durability and peace of mind of a metal roof. Furniture in photos will not remain with home.

8. 2026-04-23
   listed $269,900 Active 904-char remark

   Show marketing remark (904 chars)

   Sitting on 1.78+- acres, this inviting 3-bedroom, 2-bath home offers a perfect blend of comfort and functionality with beautiful hardwood floors and a spacious open floor plan ideal for everyday living and entertaining. The large kitchen features durable tile flooring and flows seamlessly into a cozy breakfast nook, creating a warm and welcoming space. The primary suite provides a relaxing retreat with a private bath that includes dual sinks and a walk-in closet. Additional bedrooms are generously sized, offering plenty of space for family, guests, or a home office. A dedicated laundry room with tile flooring adds convenience, while the covered back deck is perfect for enjoying the outdoors year-round. The home also includes a fully studded basement ready for your personal touch, along with the added durability and peace of mind of a metal roof. Furniture in photos will not remain with home.

9. 2026-04-23
   listed $269,900 New 904-char remark

   Show marketing remark (904 chars)

   Sitting on 1.78+- acres, this inviting 3-bedroom, 2-bath home offers a perfect blend of comfort and functionality with beautiful hardwood floors and a spacious open floor plan ideal for everyday living and entertaining. The large kitchen features durable tile flooring and flows seamlessly into a cozy breakfast nook, creating a warm and welcoming space. The primary suite provides a relaxing retreat with a private bath that includes dual sinks and a walk-in closet. Additional bedrooms are generously sized, offering plenty of space for family, guests, or a home office. A dedicated laundry room with tile flooring adds convenience, while the covered back deck is perfect for enjoying the outdoors year-round. The home also includes a fully studded basement ready for your personal touch, along with the added durability and peace of mind of a metal roof. Furniture in photos will not remain with home.

ⓘ 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: $2,472 · $206/mo
• Projected year-2 tax: $2,472 · $206/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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $34,324
• − Mortgage interest: −$13,998
• − Property taxes: −$2,472
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,746
• − Management: −$2,746
• − Depreciation: −$7,270
• Taxable income: $3,843
• Est. tax owed @ 24.0%: −$922
• After-tax cash flow: $6,746/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: Bartow County
• NCES district ID: 1300330
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $50,596
• Composite: 29.16/100
• National rank: #6577
• State rank: #70 of 174 in GA

Livability — Adairsville

• Score: 72/100
• State rank: #70
• US rank: #6291

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,937

Population outlook (Bartow County) Hauer SSP2

• Today (2025): 107,887 people
• By 2030: 109,594 · +1.6%
• By 2040: 111,038 · +2.9%
• By 2050: 109,046 · +1.1%
• By 2075: 99,484 · -7.8%
• By 2100: 83,431 · -22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 3% Two or more races 2%
• Common ancestry: Romanian 4% Serbian 2% Lithuanian 1%
• Languages at home: 98% English-only · Spanish 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Bartow

• 2024 margin: Solid R (+51.0) · D 24.2% · R 75.2%
• 2008→2024 swing: -5.8pp toward R · 2008: -45.2pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.7 2016: R+55.2 2012: R+51.7 2008: R+45.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.54%
• Current HPI: 406.79
• 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

-14.8% since first listed

11 events — show timeline

• 2026-05-29 Sold (MLS) $230,000 FMLS
• 2026-05-29 Sold (MLS) $230,000 GAMLS
• 2026-05-14 Pending — FMLS
• 2026-05-10 Pending — GAMLS
• 2026-05-10 Contingent — FMLS
• 2026-05-10 Relisted — FMLS
• 2026-05-08 Pending — GAMLS
• 2026-05-04 Price Changed $249,900 GAMLS
• 2026-05-04 Price Changed $249,900 FMLS
• 2026-04-23 Listed $269,900 FMLS
• 2026-04-23 Listed $269,900 GAMLS

Property tax history

+4.7%/yr

Latest (2025): $2,472 · -8.7% YoY. Source: county tax records.