17 Second St · McRae-Helena, GA 31037

$159,000

4 bd · 1.0 ba · 1,950 sqft · SingleFamily public records · 17 Days on market

Built 1965 0.92 ac lot $82/sqft · 12% below area Est $180k · 12% under

---

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 +17.7/30.0
• ARV discount +12.8/15.0
• Appreciation +5.9/10.0
• DSCR +5.5/10.0
• 1% rule +4.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Enjoy the space and versatility of this well-situated home on a large corner lot-perfect for gardening, outdoor living, or entertaining guest! The property features a 24x24 plumbed workshop with one roll up door, and 2 additional covered parking spaces to the left, and a 2 car carport to the right. This area is ideal for projects, storage, or a home-based business. A generous 13x76 covered shelter on the rear of the workshop area provides even more functionality, including additional side storage-perfect for equipment, hobbies, additional parking, UTVs etc. Inside this charming home, you'll find a flexible floor plan with 4 comfortable bedrooms (one at the front, three at the rear). The lay

Key facts

• Covered shelter
• 2 car carport
• Plumbed workshop

Tags

• LARGE CORNER LOT
• PLUMBED WORKSHOP
• COVERED PARKING SPACES
• 2 CAR CARPORT
• COVERED SHELTER
• FLEXIBLE FLOOR PLAN

Property features AI

Finance

• HOA & community: No HOA; Community features include airport/runway, fitness center, and park

Exterior

• Parking: Detached garage; Carport; Total parking for 4 vehicles
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; High-speed internet available; Cable available; Phone service available; Sewer connected
• Home design: Single-family residence; House; One level; Resale property
• Construction: Built in 1965; Vinyl siding; Pillar/post/pier foundation
• Exterior features: Composition roof; Corner lot; Open lot

Interior

• Kitchen: Electric water heater
• Bedrooms: 4 bedrooms (all on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom plan; Den, family room, sun room
• Laundry & utility: Mud room laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (10.5% below list).
• Recommended offer: $142k (10.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Telfair County (rural): math 24% / reading 30% proficiency, ranked #122 of 174 in GA (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 9 active listings in the ZIP; 1 units permitted in Telfair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.7% local appreciation)).
• At projected returns (1.7% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k 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 ($157k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $60k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate 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 $142,346 (10.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.90% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.47%
• DSCR: 1.15
• GRM: 9.3

CMA / ARV

• ARV (median comp): $180,260
• List price: $159,000
• Delta: -6.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Ben Ave	0.33mi	3/2.5 (-1)	2,008 (+3%)	5mo	$225,000	$112	64
175 W Graham St	0.48mi	3/2.0 (-1)	1,996 (+2%)	18mo	$286,000	$143	50
87 W Liberty St	0.75mi	3/2.0 (-1)	1,908 (-2%)	10mo	$176,000	$92	44
45 E Seventh	0.45mi	3/2.5 (-1)	2,100 (+8%)	20mo	$205,000	$98	38

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

Projected returns pro-forma

1.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.37×
• Total profit: $16,652
• Equity at exit: $60,159

10-year hold

• IRR: 10.6%
• Equity multiple: 2.39×
• Total profit: $61,749
• Equity at exit: $84,708

Cash invested: $44,520 (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 31037

• Home prices YoY: 0.8%
• Active inventory: 9
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,423 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$96 /mo · $1,150/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $129

Break-even live

Break-even rent $1,261

Max offer price $159,000

Occupancy floor 86%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $159,000 Active 17 DOM
2. 2026-06-17
   days on market $159,000 Active 16 DOM
3. 2026-06-16
   days on market $159,000 Active 15 DOM
4. 2026-06-15
   statusdays on market $159,000 Active 14 DOM
5. 2026-06-13
   days on market $159,000 New 12 DOM
6. 2026-06-12
   days on market $159,000 New 11 DOM
7. 2026-06-09
   days on market $159,000 New 8 DOM
8. 2026-06-08
   days on market $159,000 New 7 DOM
9. 2026-06-07
   days on market $159,000 New 6 DOM
10. 2026-06-05
    days on market $159,000 New 4 DOM
11. 2026-06-04
    days on market $159,000 New 2 DOM
12. 2026-06-02
    pricestatusdays on marketlisting id $159,000 New 1 DOM
13. 2026-05-31
    days on market $168,000 Active 35 DOM
14. 2026-05-31
    days on market $168,000 Active 34 DOM
15. 2026-05-15
    price $168,000 1190-char remark
16. 2026-04-25
    historical
17. 2026-03-05
    price $174,500
18. 2025-12-30
    price $186,000
19. 2025-11-05
    historical
20. 2025-10-08
    listed $169,000 New 1190-char remark
21. 2025-10-08
    listed $197,000 New
22. 2025-10-08
    listed $219,000 New

ⓘ 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: $1,150 · $96/mo
• Projected year-2 tax: $1,463 · $122/mo
• Expected delta: +$313/yr (+$26/mo · 27.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,082
• − Mortgage interest: −$8,906
• − Property taxes: −$1,150
• − Insurance: −$795
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$4,625
• Taxable loss: −$1,128
• Est. tax savings @ 24.0%: +$271
• After-tax cash flow: $1,815/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: Telfair County
• NCES district ID: 1304830
• Math proficiency: 24% ▼ -14.00%
• Reading proficiency: 30% ▬ 0.00%
• Median HH income: $27,001
• Composite: 21.5/100
• National rank: #8324
• State rank: #122 of 174 in GA

Livability — McRae-Helena

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

Census & demographics

• Census place: McRae-Helena, GA
• Population (ZIP): 3,327

Population outlook (Telfair County) Hauer SSP2

• Today (2025): 16,886 people
• By 2030: 16,997 · +0.7%
• By 2040: 16,869 · -0.1%
• By 2050: 16,591 · -1.7%
• By 2075: 15,414 · -8.7%
• By 2100: 12,081 · -28.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 47% White 47% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Hispanic 1%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Telfair

• 2024 margin: Solid R (+39.3) · D 30.2% · R 69.5%
• 2008→2024 swing: -25.0pp toward R · 2008: -14.3pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+30.9 2016: R+29.9 2012: R+15.6 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.70%
• Current HPI: 204.9892
• 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

+5.7% since first listed

10 events — show timeline

• 2026-05-31 Listing Removed — GAMLS
• 2026-05-15 Price Changed $168,000 GAMLS
• 2026-04-25 Listing Removed — GAMLS
• 2026-03-05 Price Changed $174,500 GAMLS
• 2025-12-30 Price Changed $186,000 GAMLS
• 2025-11-05 Listing Removed — GAMLS
• 2025-10-08 Listed $219,000 GAMLS
• 2025-10-08 Listed $197,000 GAMLS
• 2025-10-08 Listed $169,000 GAMLS
• 2025-10-08 Listed $159,000 GAMLS

Property tax history

+5.1%/yr

Latest (2025): $1,150 · +0.0% YoY. Source: county tax records.