138 Simpson Proctor Ln NW · Milledgeville, GA 31061

$155,000

4 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 30 Days on market

Built 1990

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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 +22.5/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.0/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice 4 bedroom 2 bath total electric ranch home in private country setting. This home is clean as a pin! Very little traffic on this private road with only four homes on it. HVAC and water heater only two years old. Roof is only five years old! Water softener, ceiling fans, and plenty of extra cabinetry. Two out buildings, two car carport, and a rocking chair front porch. This home is in move-in condition inside and out. Great yard for the kids and a cozy little back porch for grilling out. Owners are motivated to sell! Great area for USDA financing.

Key facts

• Built 1990
• Listed 29 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/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 $155k (0.3% below list).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 2.9% in Milledgeville — 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 68/100 on livability (#134 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities D+, schools F, crime F.
• Baldwin County (town): math 13% / reading 20% proficiency, ranked #152 of 174 in GA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.0%/yr); 375 active listings in the ZIP; 202 units permitted in Baldwin County in 2024 (12 in 5+ unit buildings).
• This rent runs 34% of the median local income ($54k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Baldwin County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $75k; list at $155k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,675 (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 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.00% ✗
• Cap rate: 8.32%
• Cash-on-cash: 7.25%
• DSCR: 1.32
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.05% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.84×
• Total profit: $-6,806
• Equity at exit: $23,111

10-year hold

• IRR: 6.6%
• Equity multiple: 1.51×
• Total profit: $22,318
• Equity at exit: $13,402

Cash invested: $43,400 (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 31061

• Home prices YoY: -29.9%
• Rents YoY: 4.0%
• Active inventory: 375
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,546 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$82 /mo · $980/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $262

Break-even live

Break-even rent $1,214

Max offer price $155,000

Occupancy floor 78%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $155,000 Active 30 DOM
2. 2026-06-18
   days on market $155,000 Active 29 DOM
3. 2026-06-17
   days on market $155,000 Active 28 DOM
4. 2026-06-16
   days on market $155,000 Active 27 DOM
5. 2026-06-15
   days on market $155,000 Active 26 DOM
6. 2026-06-14
   days on market $155,000 Active 24 DOM
7. 2026-06-12
   days on market $155,000 Active 23 DOM
8. 2026-06-09
   days on market $155,000 Active 20 DOM
9. 2026-06-08
   days on market $155,000 Active 19 DOM
10. 2026-06-07
    days on market $155,000 Active 18 DOM
11. 2026-06-05
    days on market $155,000 Active 15 DOM
12. 2026-06-03
    days on market $155,000 Active 14 DOM
13. 2026-06-02
    days on market $155,000 Active 13 DOM
14. 2026-06-01
    days on market $155,000 Active 12 DOM
15. 2026-05-31
    days on market $155,000 Active 11 DOM
16. 2026-05-30
    days on market $155,000 Active 10 DOM
17. 2026-05-21
    listed $155,000 Active
18. 2015-12-29
    soldstatus $75,000 561-char remark

    Show marketing remark (561 chars)

    Very nice 4 bedroom 2 bath total electric ranch home in private country setting. This home is clean as a pin! Very little traffic on this private road with only four homes on it. HVAC and water heater only two years old. Roof is only five years old! Water softener, ceiling fans, and plenty of extra cabinetry. Two out buildings, two car carport, and a rocking chair front porch. This home is in move-in condition inside and out. Great yard for the kids and a cozy little back porch for grilling out. Owners are motivated to sell! Great area for USDA financing.

19. 2015-12-29
    soldstatus $75,000

    Show marketing remark (561 chars)

    Very nice 4 bedroom 2 bath total electric ranch home in private country setting. This home is clean as a pin! Very little traffic on this private road with only four homes on it. HVAC and water heater only two years old. Roof is only five years old! Water softener, ceiling fans, and plenty of extra cabinetry. Two out buildings, two car carport, and a rocking chair front porch. This home is in move-in condition inside and out. Great yard for the kids and a cozy little back porch for grilling out. Owners are motivated to sell! Great area for USDA financing.

20. 2015-08-18
    listed $84,900 561-char remark

    Show marketing remark (561 chars)

    Very nice 4 bedroom 2 bath total electric ranch home in private country setting. This home is clean as a pin! Very little traffic on this private road with only four homes on it. HVAC and water heater only two years old. Roof is only five years old! Water softener, ceiling fans, and plenty of extra cabinetry. Two out buildings, two car carport, and a rocking chair front porch. This home is in move-in condition inside and out. Great yard for the kids and a cozy little back porch for grilling out. Owners are motivated to sell! Great area for USDA financing.

21. 2015-07-30
    historical
22. 2015-07-28
    listed $99,000

ⓘ 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: $980 · $82/mo
• Projected year-2 tax: $1,426 · $119/mo
• Expected delta: +$446/yr (+$37/mo · 45.5%)

ⓘ 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 ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,552
• − Mortgage interest: −$8,682
• − Property taxes: −$980
• − Insurance: −$775
• − Repairs & maintenance: −$1,484
• − Management: −$1,484
• − Depreciation: −$4,509
• Taxable income: $638
• Est. tax owed @ 24.0%: −$153
• After-tax cash flow: $2,994/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: Baldwin County
• NCES district ID: 1300210
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 20% ▼ -5.00%
• Median HH income: $35,615
• Composite: 13.61/100
• National rank: #9508
• State rank: #152 of 174 in GA

Livability — Milledgeville

• Score: 68/100
• State rank: #134
• US rank: #9206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Baldwin County · 41,764 people
• City population: 41,764
• Metro: Milledgeville, GA
• Population (ZIP): 41,764
• Household income: $54,263
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1630.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 45,602 people
• By 2030: 45,481 · -0.3%
• By 2040: 44,310 · -2.8%
• By 2050: 42,129 · -7.6%
• By 2075: 36,819 · -19.3%
• By 2100: 29,320 · -35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 51% Black 43% Hispanic / Latino 3% Two or more races 3% Asian 2%
• Common ancestry: Slovak 1% Serbian 1% Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Baldwin

• 2024 margin: Toss-up / Even · D 48.6% · R 50.9%
• 2008→2024 swing: -6.8pp toward R · 2008: 4.6pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+1.3 2016: D+1.7 2012: D+5.5 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.16%
• Current HPI: 241.3758
• Rent YoY: ▲ 4.05%
• Metro: Milledgeville, 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

+56.6% since first listed

6 events — show timeline

• 2026-05-21 Listed $155,000 FSBO.com
• 2015-12-29 Sold (Public Records) $75,000 Public Records
• 2015-12-29 Sold (MLS) $75,000 GAMLS
• 2015-08-18 Listed $84,900 GAMLS
• 2015-07-30 Listing Removed — GAMLS
• 2015-07-28 Listed $99,000 GAMLS

Property tax history

+20.7%/yr

Latest (2025): $980 · -2.6% YoY. Source: county tax records.