309 Eastlake Dr · Quitman, GA 31643

$175,000

3 bd · 1.0 ba · 1,275 sqft · SingleFamily public records · 78 Days on market

Built 1967 0.48 ac lot $137/sqft · 59% above area ↓ 8% since listing

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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 +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Appreciation +5.5/10.0
• 1% rule +4.1/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

LAKEFRONT LIVING! Welcome to this beautifully remodeled 3-bedroom, 1.5-bath home in the heart of Quitman, Georgia! Offering stunning lake views right from your kitchen sink, this move-in ready home combines charm, comfort, and convenience all in one. Step inside to find a spacious layout featuring a large dining area, perfect for gathering with family and friends. The updated interior makes this home truly turnkey, ideal for both first-time homebuyers and investors alike. Enjoy relaxing mornings and peaceful evenings overlooking the lake, or take advantage of the inviting back porch—perfect for entertaining guests or simply unwinding after a long day. The home also features a spacious backyard with plenty of room to enjoy the outdoors, along with a storage shed for added convenience. Located just a short drive to downtown Quitman, you'll love the easy access to local restaurants, shopping, and everyday essentials. Whether you're looking for your next home or a great investment opportunity, this property checks all the boxes with its location, updates, and beautiful views. Don't miss your chance to make it yours! SOLD AS-IS. Cash or conventional offers welcome! * * Stove shown in photos has been virtually staged for visualization purposes.

Key facts

• 0.48 acre lot
• Built 1967
• Listed 78 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $165 ($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 $159k (9.2% below list).
• Recommended offer: $159k (9.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#462 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools F, amenities F, commute F.
• Brooks County (rural): math 15% / reading 15% proficiency, ranked #160 of 174 in GA (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 58 active listings in the ZIP; 39 units permitted in Brooks County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (0.9% local appreciation)).
• Brooks County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,845 (9.2% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.91% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.03%
• DSCR: 1.18
• GRM: 9.2

CMA / ARV

• ARV (median comp): $110,246
• List price: $175,000
• Delta: 58.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Eastlake Dr	0.12mi	3/2.0	1,207 (-5%)	22mo	$150,000	$124	63
800 S Warren St	0.56mi	3/1.0	1,352 (+6%)	8mo	$27,000	$20	58
901 W Boundary St	0.67mi	3/2.0	1,152 (-10%)	4mo	$95,000	$82	46
203 W Lake Dr	0.23mi	3/2.0	1,457 (+14%)	20mo	$176,500	$121	45

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

Projected returns pro-forma

0.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.3%
• Equity multiple: 1.27×
• Total profit: $13,022
• Equity at exit: $59,015

10-year hold

• IRR: 9.6%
• Equity multiple: 2.16×
• Total profit: $56,661
• Equity at exit: $77,867

Cash invested: $49,000 (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 31643

• Home prices YoY: 0.5%
• Active inventory: 58
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,588 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$100 /mo · $1,196/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $165

Break-even live

Break-even rent $1,380

Max offer price $175,000

Occupancy floor 85%

Sensitivity live

Price	-10% $264	-5% $214	+0% $165	+5% $115	+10% $66
Rent	-10% $39	-5% $102	+0% $165	+5% $227	+10% $290
Rate	-1.0pp $253	-0.5pp $209	base $165	+0.5pp $119	+1.0pp $73

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   status $175,000 Pending 78 DOM
2. 2026-06-18
   days on market $175,000 Active 78 DOM
3. 2026-06-17
   days on market $175,000 Active 77 DOM
4. 2026-06-16
   days on market $175,000 Active 76 DOM
5. 2026-06-15
   days on market $175,000 Active 75 DOM
6. 2026-06-14
   days on market $175,000 Active 73 DOM
7. 2026-06-13
   days on market $175,000 Active 72 DOM
8. 2026-06-10
   days on market $175,000 Active 70 DOM
9. 2026-06-09
   days on market $175,000 Active 69 DOM
10. 2026-06-08
    days on market $175,000 Active 68 DOM
11. 2026-06-07
    days on market $175,000 Active 67 DOM
12. 2026-06-05
    days on market $175,000 Active 64 DOM
13. 2026-06-03
    days on market $175,000 Active 63 DOM
14. 2026-06-02
    days on market $175,000 Active 62 DOM
15. 2026-06-01
    days on market $175,000 Active 61 DOM
16. 2026-05-31
    days on market $175,000 Active 60 DOM
17. 2026-05-30
    days on market $175,000 Active 59 DOM
18. 2026-05-11
    status Active 1268-char remark

    Show marketing remark (1268 chars)

    LAKEFRONT LIVING! Welcome to this beautifully remodeled 3-bedroom, 1.5-bath home in the heart of Quitman, Georgia! Offering stunning lake views right from your kitchen sink, this move-in ready home combines charm, comfort, and convenience all in one. Step inside to find a spacious layout featuring a large dining area, perfect for gathering with family and friends. The updated interior makes this home truly turnkey, ideal for both first-time homebuyers and investors alike. Enjoy relaxing mornings and peaceful evenings overlooking the lake, or take advantage of the inviting back porch—perfect for entertaining guests or simply unwinding after a long day. The home also features a spacious backyard with plenty of room to enjoy the outdoors, along with a storage shed for added convenience. Located just a short drive to downtown Quitman, you'll love the easy access to local restaurants, shopping, and everyday essentials. Whether you're looking for your next home or a great investment opportunity, this property checks all the boxes with its location, updates, and beautiful views. Don't miss your chance to make it yours! SOLD AS-IS. Cash or conventional offers welcome! * * Stove shown in photos has been virtually staged for visualization purposes.

19. 2026-05-05
    status Pending 1268-char remark

    Show marketing remark (1268 chars)

    LAKEFRONT LIVING! Welcome to this beautifully remodeled 3-bedroom, 1.5-bath home in the heart of Quitman, Georgia! Offering stunning lake views right from your kitchen sink, this move-in ready home combines charm, comfort, and convenience all in one. Step inside to find a spacious layout featuring a large dining area, perfect for gathering with family and friends. The updated interior makes this home truly turnkey, ideal for both first-time homebuyers and investors alike. Enjoy relaxing mornings and peaceful evenings overlooking the lake, or take advantage of the inviting back porch—perfect for entertaining guests or simply unwinding after a long day. The home also features a spacious backyard with plenty of room to enjoy the outdoors, along with a storage shed for added convenience. Located just a short drive to downtown Quitman, you'll love the easy access to local restaurants, shopping, and everyday essentials. Whether you're looking for your next home or a great investment opportunity, this property checks all the boxes with its location, updates, and beautiful views. Don't miss your chance to make it yours! SOLD AS-IS. Cash or conventional offers welcome! * * Stove shown in photos has been virtually staged for visualization purposes.

20. 2026-04-23
    price $175,000 1268-char remark

    Show marketing remark (1268 chars)

    LAKEFRONT LIVING! Welcome to this beautifully remodeled 3-bedroom, 1.5-bath home in the heart of Quitman, Georgia! Offering stunning lake views right from your kitchen sink, this move-in ready home combines charm, comfort, and convenience all in one. Step inside to find a spacious layout featuring a large dining area, perfect for gathering with family and friends. The updated interior makes this home truly turnkey, ideal for both first-time homebuyers and investors alike. Enjoy relaxing mornings and peaceful evenings overlooking the lake, or take advantage of the inviting back porch—perfect for entertaining guests or simply unwinding after a long day. The home also features a spacious backyard with plenty of room to enjoy the outdoors, along with a storage shed for added convenience. Located just a short drive to downtown Quitman, you'll love the easy access to local restaurants, shopping, and everyday essentials. Whether you're looking for your next home or a great investment opportunity, this property checks all the boxes with its location, updates, and beautiful views. Don't miss your chance to make it yours! SOLD AS-IS. Cash or conventional offers welcome! * * Stove shown in photos has been virtually staged for visualization purposes.

21. 2026-03-26
    listed $189,900 Active 1268-char remark

    Show marketing remark (1268 chars)

    LAKEFRONT LIVING! Welcome to this beautifully remodeled 3-bedroom, 1.5-bath home in the heart of Quitman, Georgia! Offering stunning lake views right from your kitchen sink, this move-in ready home combines charm, comfort, and convenience all in one. Step inside to find a spacious layout featuring a large dining area, perfect for gathering with family and friends. The updated interior makes this home truly turnkey, ideal for both first-time homebuyers and investors alike. Enjoy relaxing mornings and peaceful evenings overlooking the lake, or take advantage of the inviting back porch—perfect for entertaining guests or simply unwinding after a long day. The home also features a spacious backyard with plenty of room to enjoy the outdoors, along with a storage shed for added convenience. Located just a short drive to downtown Quitman, you'll love the easy access to local restaurants, shopping, and everyday essentials. Whether you're looking for your next home or a great investment opportunity, this property checks all the boxes with its location, updates, and beautiful views. Don't miss your chance to make it yours! SOLD AS-IS. Cash or conventional offers welcome! * * Stove shown in photos has been virtually staged for visualization purposes.

ⓘ 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: $1,196 · $100/mo
• Projected year-2 tax: $1,610 · $134/mo
• Expected delta: +$414/yr (+$35/mo · 34.6%)

ⓘ 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 · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,061
• − Mortgage interest: −$9,803
• − Property taxes: −$1,196
• − Insurance: −$875
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$5,091
• Taxable loss: −$953
• Est. tax savings @ 24.0%: +$229
• After-tax cash flow: $2,204/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: Brooks County
• NCES district ID: 1300540
• Math proficiency: 15% ▼ -7.00%
• Reading proficiency: 15% ▼ -8.00%
• Median HH income: $35,963
• Composite: 12.43/100
• National rank: #9628
• State rank: #160 of 174 in GA

Livability — Quitman

• Score: 57/100
• State rank: #462
• US rank: #21941

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quitman, GA
• City population: 9,848
• Population (ZIP): 9,848

Population outlook (Brooks County) Hauer SSP2

• Today (2025): 14,339 people
• By 2030: 13,497 · -5.9%
• By 2040: 11,787 · -17.8%
• By 2050: 10,100 · -29.6%
• By 2075: 6,878 · -52.0%
• By 2100: 5,056 · -64.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 49% Black 42% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Brooks

• 2024 margin: Strong R (+26.8) · D 36.5% · R 63.2%
• 2008→2024 swing: -13.3pp toward R · 2008: -13.5pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+20.7 2016: R+18.7 2012: R+6.3 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.92%
• Current HPI: 206.3145
• 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

-7.8% since first listed

4 events — show timeline

• 2026-05-11 Relisted — SGMLS
• 2026-05-05 Pending — SGMLS
• 2026-04-23 Price Changed $175,000 SGMLS
• 2026-03-26 Listed $189,900 SGMLS

Property tax history

+5.0%/yr

Latest (2025): $1,196 · -1.8% YoY. Source: county tax records.