765 Smith Store Rd · Porterdale, GA 30016

$50,000

3 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 26 Days on market

Built 1986 1.01 ac lot $35/sqft · 81% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.0/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all Investors searching for your next project in a great location. This 3/2 Mobile HOme in Sought after Covington, just needing a little love and TLC could be your next money maker. Call me about this great opportunity and let's see what you can make on this over 1 acre property.

Key facts

• 1.01 acre lot
• Built 1986
• Listed 25 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 33.3% vs local median 5.1% in Porterdale — 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 58/100 on livability (#447 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+, housing B; Watch: schools F, amenities F, commute F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.8%/yr); 419 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: major wind risk, 27% 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 $49,250 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 3.87% ✓
• Cap rate: 33.29%
• Cash-on-cash: 96.42%
• DSCR: 5.29
• GRM: 2.2

CMA / ARV

• ARV (median comp): $268,392
• List price: $50,000
• Delta: -81.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Falcon Crest Dr	0.32mi	3/2.0	1,462 (+2%)	7mo	$245,900	$168	76
145 Whispering Pine Dr	0.22mi	3/2.0	1,572 (+9%)	6mo	$247,000	$157	70
110 Oak Wood Ln	0.25mi	3/2.0	1,361 (-6%)	15mo	$245,000	$180	67
60 Whispering Pine Ct	0.20mi	3/2.0	1,574 (+9%)	11mo	$296,000	$188	66
10 Oak Wood Ln Unit X	0.46mi	3/2.0	1,454 (+1%)	13mo	$207,000	$142	66
10 Oak Wood Ln	0.46mi	3/2.0	1,454 (+1%)	13mo	$207,000	$142	66
290 Sable Cir	0.46mi	3/2.0	1,484 (+3%)	15mo	$228,000	$154	60
70 Oaklake Dr	0.70mi	3/2.0	1,445 (+0%)	12mo	$295,000	$204	56
25 Dove Pt	0.66mi	3/2.0	1,470 (+2%)	13mo	$245,000	$167	55
145 Mills Lndg	0.63mi	3/2.0	1,307 (-9%)	1mo	$252,900	$193	55
375 Branchwood Dr	0.71mi	3/2.0	1,274 (-12%)	1mo	$227,500	$179	47
115 Branchwood Dr	0.60mi	3/2.0	1,235 (-14%)	3mo	$235,000	$190	46

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 · 1.84% rent growth · sell at horizon

5-year hold

• IRR: 96.0%
• Equity multiple: 5.38×
• Total profit: $61,375
• Equity at exit: $7,455

10-year hold

• IRR: 98.5%
• Equity multiple: 10.79×
• Total profit: $137,009
• Equity at exit: $4,323

Cash invested: $14,000 (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 30016

• Home prices YoY: -8.6%
• Rents YoY: 1.8%
• Active inventory: 419
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,937 high
• Mortgage (P&I): −$262
• Tax from tax record: −$122 /mo · $1,464/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $1,125

Break-even live

Break-even rent $513

Max offer price $50,000

Occupancy floor 37%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
65 White Oak Dr Covington, GA	4.0	2.0	1269	$1,810	$1.43	24d	1	0.36mi
115 Falcon Ridge Dr Covington, GA	3.0	2.0	1648	$1,650	$1.00	24d	1	0.36mi
195 Falcon Ridge Dr Covington, GA	3.0	2.0	1319	$1,819	$1.38	3d	1	0.40mi
75 Dove Lndg Covington, GA	3.0	2.0	1528	$1,750	$1.15	43d	1	0.58mi
75 Dove Lndg Covington, GA	3.0	2.0	1528	$1,750	$1.15	24d	1	0.58mi
35 Pommel Ct Covington, GA	4.0	2.5	1800	$1,981	$1.10	43d	1	0.72mi
30 Pommel Ct Covington, GA	4.0	2.5	1804	$2,001	$1.11	12d	1	0.77mi
20 Glynn Isle Dr Covington, GA	3.0	2.0	1401	$1,877	$1.34	17d	1	0.79mi
705 Mills Dr Covington, GA	3.0	2.0	1196	$1,641	$1.37	43d	1	0.97mi
90 Lazy Hollow Ln Covington, GA	3.0	2.0	1294	$1,761	$1.36	12d	1	1.18mi
150 Lazy Hollow Ln Covington, GA	3.0	2.0	1348	$1,805	$1.34	24d	1	1.18mi
30 Berkshire Dr Covington, GA	3.0	2.0	1853	$2,150	$1.16	5d	1	1.35mi
170 Oak Hill Dr Covington, GA	3.0	2.0	1677	$1,749	$1.04	2d	1	1.37mi
205 Oak Hill Dr Covington, GA	3.0	2.0	1683	$1,960	$1.16	5d	1	1.40mi
40 Oak Hill Dr Covington, GA	3.0	2.5	1644	$1,900	$1.16	24d	1	1.44mi

Listing history 7 events

1. 2026-06-03
   days on market $50,000 Active 26 DOM
2. 2026-06-02
   days on market $50,000 Active 25 DOM
3. 2026-06-01
   days on market $50,000 Active 24 DOM
4. 2026-05-31
   days on market $50,000 Active 23 DOM
5. 2026-05-12
   status Back On Market 290-char remark

   Show marketing remark (290 chars)

   Calling all Investors searching for your next project in a great location. This 3/2 Mobile HOme in Sought after Covington, just needing a little love and TLC could be your next money maker. Call me about this great opportunity and let's see what you can make on this over 1 acre property.

6. 2026-04-14
   status Under Contract 290-char remark

   Show marketing remark (290 chars)

   Calling all Investors searching for your next project in a great location. This 3/2 Mobile HOme in Sought after Covington, just needing a little love and TLC could be your next money maker. Call me about this great opportunity and let's see what you can make on this over 1 acre property.

7. 2026-04-10
   listed $50,000 New 290-char remark

   Show marketing remark (290 chars)

   Calling all Investors searching for your next project in a great location. This 3/2 Mobile HOme in Sought after Covington, just needing a little love and TLC could be your next money maker. Call me about this great opportunity and let's see what you can make on this over 1 acre property.

ⓘ 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: $1,464 · $122/mo
• Projected year-2 tax: $1,464 · $122/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,239
• − Mortgage interest: −$2,801
• − Property taxes: −$1,464
• − Insurance: −$250
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − Depreciation: −$1,455
• Taxable income: $13,552
• Est. tax owed @ 24.0%: −$3,252
• After-tax cash flow: $10,246/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: Newton County
• NCES district ID: 1303930
• Math proficiency: 17% ▼ -13.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $50,768
• Composite: 19.2/100
• National rank: #8816
• State rank: #137 of 174 in GA

Livability — Porterdale

• Score: 58/100
• State rank: #447
• US rank: #21362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Newton County · 104,393 people
• City population: 76
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,968
• Household income: $79,527
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 1172.0

Population outlook (Newton County) Hauer SSP2

• Today (2025): 118,372 people
• By 2030: 124,234 · +5.0%
• By 2040: 135,550 · +14.5%
• By 2050: 145,309 · +22.8%
• By 2075: 166,843 · +40.9%
• By 2100: 175,800 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Newton

• 2024 margin: D (+15.1) · D 57.3% · R 42.2%
• 2008→2024 swing: +14.0pp toward D · 2008: 1.2pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+10.9 2016: D+2.4 2012: D+2.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.68%
• Current HPI: 317.5605
• Rent YoY: ▲ 1.84%
• Metro: Atlanta-Sandy Springs-Alpharetta, 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

3 events — show timeline

• 2026-05-12 Relisted — GAMLS
• 2026-04-14 Pending — GAMLS
• 2026-04-10 Listed $50,000 GAMLS

Property tax history

+4.0%/yr

Latest (2025): $1,464 · +10.1% YoY. Source: county tax records.