Chalybeate Rd · Manchester, GA 31816

$115,000

2 bd · None ba · 3,212 sqft · Other

Built 2015

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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 +23.9/30.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Ready, Set, HUNT!!!! All the items needed to start hunting are included. Older Camper, older model 4 wheel drive gator, 3 deer Feeders, 2- 2 man stands, 1 tripod stand, a wood shack ground blind, and 7 solar powered cell phone camera through-out the property. 62.82 Acres In Meriwether County/ 6.81 Acres in Talbot County. Deeded Easement to access property. Land is Currently under Conservation. 1.435 Acre CSX Rail Road Easement on property. Property is a Hunters Dream, Mountain top acreage, 69.63 Acres of Hardwoods with a well maintained internal road Owner Eric Robinson will be the point of contact for showing. Please feel free to reach out to agent to set up showing.

Key facts

• Built 2015

What this means for you Summary

Snapshot

• This is a 2-bed/?-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 8.6% vs local median 5.1% in Manchester — 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 55/100 on livability (#525 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime D-, amenities F.
• Meriwether County (rural): math 18% / reading 22% proficiency, ranked #144 of 174 in GA (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 45 active listings in the ZIP; 180 units permitted in Meriwether County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Meriwether County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 14y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 73% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,000

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 D 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: 1.12% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.35%
• DSCR: 1.37
• GRM: 7.4

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: 30.4%
• Equity multiple: 3.39×
• Total profit: $76,916
• Equity at exit: $103,601

10-year hold

• IRR: 26.3%
• Equity multiple: 7.69×
• Total profit: $215,326
• Equity at exit: $223,420

Cash invested: $32,200 (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 31816

• Home prices YoY: 8.7%
• Active inventory: 45
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,290 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $224

Break-even live

Break-even rent $1,006

Max offer price $115,000

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-05-26
   listed $115,000
2. 2022-03-17
   historical
3. 2021-12-15
   price $1,230,000
4. 2021-11-15
   price $892,000
5. 2021-11-12
   listed $1,281,000 New
6. 2021-04-02
   soldstatus $210,000 Closed 676-char remark

   Show marketing remark (676 chars)

   Ready, Set, HUNT!!!! All the items needed to start hunting are included. Older Camper, older model 4 wheel drive gator, 3 deer Feeders, 2- 2 man stands, 1 tripod stand, a wood shack ground blind, and 7 solar powered cell phone camera through-out the property. 62.82 Acres In Meriwether County/ 6.81 Acres in Talbot County. Deeded Easement to access property. Land is Currently under Conservation. 1.435 Acre CSX Rail Road Easement on property. Property is a Hunters Dream, Mountain top acreage, 69.63 Acres of Hardwoods with a well maintained internal road Owner Eric Robinson will be the point of contact for showing. Please feel free to reach out to agent to set up showing.

7. 2021-04-02
   soldstatus $210,000 Sold

   Show marketing remark (676 chars)

   Ready, Set, HUNT!!!! All the items needed to start hunting are included. Older Camper, older model 4 wheel drive gator, 3 deer Feeders, 2- 2 man stands, 1 tripod stand, a wood shack ground blind, and 7 solar powered cell phone camera through-out the property. 62.82 Acres In Meriwether County/ 6.81 Acres in Talbot County. Deeded Easement to access property. Land is Currently under Conservation. 1.435 Acre CSX Rail Road Easement on property. Property is a Hunters Dream, Mountain top acreage, 69.63 Acres of Hardwoods with a well maintained internal road Owner Eric Robinson will be the point of contact for showing. Please feel free to reach out to agent to set up showing.

8. 2021-03-09
   status Under Contract

   Show marketing remark (676 chars)

   Ready, Set, HUNT!!!! All the items needed to start hunting are included. Older Camper, older model 4 wheel drive gator, 3 deer Feeders, 2- 2 man stands, 1 tripod stand, a wood shack ground blind, and 7 solar powered cell phone camera through-out the property. 62.82 Acres In Meriwether County/ 6.81 Acres in Talbot County. Deeded Easement to access property. Land is Currently under Conservation. 1.435 Acre CSX Rail Road Easement on property. Property is a Hunters Dream, Mountain top acreage, 69.63 Acres of Hardwoods with a well maintained internal road Owner Eric Robinson will be the point of contact for showing. Please feel free to reach out to agent to set up showing.

9. 2021-03-09
   status Pending 676-char remark

   Show marketing remark (676 chars)

   Ready, Set, HUNT!!!! All the items needed to start hunting are included. Older Camper, older model 4 wheel drive gator, 3 deer Feeders, 2- 2 man stands, 1 tripod stand, a wood shack ground blind, and 7 solar powered cell phone camera through-out the property. 62.82 Acres In Meriwether County/ 6.81 Acres in Talbot County. Deeded Easement to access property. Land is Currently under Conservation. 1.435 Acre CSX Rail Road Easement on property. Property is a Hunters Dream, Mountain top acreage, 69.63 Acres of Hardwoods with a well maintained internal road Owner Eric Robinson will be the point of contact for showing. Please feel free to reach out to agent to set up showing.

10. 2021-02-17
    listed $210,000 Active 676-char remark

    Show marketing remark (676 chars)

    Ready, Set, HUNT!!!! All the items needed to start hunting are included. Older Camper, older model 4 wheel drive gator, 3 deer Feeders, 2- 2 man stands, 1 tripod stand, a wood shack ground blind, and 7 solar powered cell phone camera through-out the property. 62.82 Acres In Meriwether County/ 6.81 Acres in Talbot County. Deeded Easement to access property. Land is Currently under Conservation. 1.435 Acre CSX Rail Road Easement on property. Property is a Hunters Dream, Mountain top acreage, 69.63 Acres of Hardwoods with a well maintained internal road Owner Eric Robinson will be the point of contact for showing. Please feel free to reach out to agent to set up showing.

11. 2021-02-16
    listed $210,000 New
12. 2020-11-17
    soldstatus $99,000 Sold
13. 2020-10-07
    status Under Contract
14. 2020-09-08
    price $115,000
15. 2020-07-21
    listed $119,000 New
16. 2019-07-29
    soldstatus $85,357 Sold
17. 2019-07-09
    status Under Contract
18. 2019-04-01
    listed $94,000 New
19. 2014-07-25
    historical
20. 2013-01-24
    price $105,000 Reduced
21. 2013-01-24
    status Back On Market
22. 2013-01-24
    historical
23. 2012-08-29
    price $115,000 Reduced
24. 2012-01-23
    listed $125,000 New
25. 1988-05-01
    soldstatus $6,000

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

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 ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,474
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$3,345
• Taxable income: $911
• Est. tax owed @ 24.0%: −$219
• After-tax cash flow: $2,469/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: Meriwether County
• NCES district ID: 1303630
• Math proficiency: 18% ▼ -11.00%
• Reading proficiency: 22% ▼ -6.00%
• Median HH income: $36,287
• Composite: 16.59/100
• National rank: #9175
• State rank: #144 of 174 in GA

Livability — Manchester

• Score: 55/100
• State rank: #525
• US rank: #23555

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,872

Population outlook (Meriwether County) Hauer SSP2

• Today (2025): 19,554 people
• By 2030: 18,482 · -5.5%
• By 2040: 16,204 · -17.1%
• By 2050: 14,030 · -28.2%
• By 2075: 9,539 · -51.2%
• By 2100: 6,136 · -68.6%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: Black 49% White 48% Two or more races 2%
• Common ancestry: Portuguese 1% Italian 1% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Meriwether

• 2024 margin: Strong R (+25.5) · D 37.1% · R 62.6%
• 2008→2024 swing: -20.0pp toward R · 2008: -5.4pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+20.6 2016: R+15.4 2012: R+5.7 2008: R+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.75%
• Current HPI: 298.3716
• 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

+1816.7% since first listed

25 events — show timeline

• 2026-05-26 Listed $115,000 FSBO.com
• 2022-03-17 Listing Removed — GAMLS
• 2021-12-15 Price Changed $1,230,000 GAMLS
• 2021-11-15 Price Changed $892,000 GAMLS
• 2021-11-12 Listed $1,281,000 GAMLS
• 2021-04-02 Sold (MLS) $210,000 GAMLS
• 2021-04-02 Sold (MLS) $210,000 FMLS
• 2021-03-09 Pending — GAMLS
• 2021-03-09 Pending — FMLS
• 2021-02-17 Listed $210,000 FMLS
• 2021-02-16 Listed $210,000 GAMLS
• 2020-11-17 Sold (MLS) $99,000 GAMLS
• 2020-10-07 Pending — GAMLS
• 2020-09-08 Price Changed $115,000 GAMLS
• 2020-07-21 Listed $119,000 GAMLS
• 2019-07-29 Sold (MLS) $85,357 GAMLS
• 2019-07-09 Pending — GAMLS
• 2019-04-01 Listed $94,000 GAMLS
• 2014-07-25 Listing Removed — GAMLS
• 2013-01-24 Price Changed $105,000 GAMLS
• 2013-01-24 Relisted — GAMLS
• 2013-01-24 Listing Removed — GAMLS
• 2012-08-29 Price Changed $115,000 GAMLS
• 2012-01-23 Listed $125,000 GAMLS
• 1988-05-01 Sold (Public Records) $6,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $76 · -0.7% YoY. Source: county tax records.