1567 Locust Grove Rd · Locust Grove, GA 30248

$219,900

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 125 Days on market

Built 1960 2.33 ac lot $204/sqft · at area comps Est $230k · at est.

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Why this score? — see what drove the D 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 +14.6/30.0
• ARV discount +9.5/15.0
• DSCR +4.5/10.0
• Livability +3.1/5.0
• 1% rule +3.0/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a ROCK BOTTOM price for all this Country Charmer has to offer! Centrally located between Griffin and Locust Grove in the Ringgold Community on 2.3 ac picturesque lot. Wonderful setting ideal for anyone wanting animals or recreation as there are fenced pastures, gates, and full perimeter fencing already in place. The multiple outbuildings are perfect for equipment, shelter, hobby space, toys, workshop, storage, etc. One of the outbuildings offers a studio apartment, adding living space for family or guests, plus another outbuilding is wired for office space. The main house has been well maintained but needs some minor cosmetic TLC. A screened in porch lets you enjoy the plentiful fresh air as well as a scenic view of the Henry County "Long Branch" water reservoir. This is an incredibly affordable choice for buyers wanting to live in a rural retreat, have a weekend getaway, or serve as an opportunity for savvy investors. This property is approved in the USDA eligibility map.

Key facts

• Fenced pastures
• Permanent foundation
• Studio apartment

Tags

• FENCED PASTURES
• MULTIPLE OUTBUILDINGS
• STUDIO APARTMENT
• WIRED FOR OFFICE SPACE
• PERMANENT FOUNDATION
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $53 ($632/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 $177k (19.6% below list).
• Recommended offer: $177k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.1% in Locust Grove — 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 62/100 on livability (#315 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Griffin-Spalding County (suburban): math 13% / reading 19% proficiency, ranked #151 of 174 in GA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Jordan Hill Road Elementary School (math 17% / reading 22%, grade F, #878 of 1,228 statewide, top 75%, 356 students, 98% FRL); Kennedy Road Middle School (math 11% / reading 20%, grade F, #392 of 470 statewide, top 84%, 477 students, 98% FRL); Spalding High School (math 11% / reading 25%, grade F, #258 of 424 statewide, top 62%, 1,252 students, 67% FRL) — zoned schools average 88% FRL vs 68% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 499 active listings in the ZIP; solid renter incomes; 342 units permitted in Spalding County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Spalding County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask has dropped $39k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 32% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,753 (19.6% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.03%
• DSCR: 1.05
• GRM: 10.4

CMA / ARV

• ARV (median comp): $230,395
• List price: $219,900
• Delta: -4.56%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.16% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.45×
• Total profit: $-33,842
• Equity at exit: $32,788

10-year hold

• IRR: -8.5%
• Equity multiple: 0.49×
• Total profit: $-31,459
• Equity at exit: $19,013

Cash invested: $61,572 (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 30248

• Home prices YoY: -21.0%
• Rents YoY: 2.2%
• Active inventory: 499
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,768 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$99 /mo · $1,187/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $53

Break-even live

Break-even rent $1,701

Max offer price $219,900

Occupancy floor 92%

Sensitivity live

Price	-10% $177	-5% $115	+0% $53	+5% $-10	+10% $-72
Rent	-10% $-87	-5% $-17	+0% $53	+5% $122	+10% $192
Rate	-1.0pp $163	-0.5pp $109	base $53	+0.5pp $-4	+1.0pp $-62

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-05-12
   status Under Contract 1005-char remark

   Show marketing remark (1005 chars)

   This is a ROCK BOTTOM price for all this Country Charmer has to offer! Centrally located between Griffin and Locust Grove in the Ringgold Community on 2.3 ac picturesque lot. Wonderful setting ideal for anyone wanting animals or recreation as there are fenced pastures, gates, and full perimeter fencing already in place. The multiple outbuildings are perfect for equipment, shelter, hobby space, toys, workshop, storage, etc. One of the outbuildings offers a studio apartment, adding living space for family or guests, plus another outbuilding is wired for office space. The main house has been well maintained but needs some minor cosmetic TLC. A screened in porch lets you enjoy the plentiful fresh air as well as a scenic view of the Henry County "Long Branch" water reservoir. This is an incredibly affordable choice for buyers wanting to live in a rural retreat, have a weekend getaway, or serve as an opportunity for savvy investors. This property is approved in the USDA eligibility map.

2. 2026-05-09
   price $219,900 1005-char remark

   Show marketing remark (1005 chars)

   This is a ROCK BOTTOM price for all this Country Charmer has to offer! Centrally located between Griffin and Locust Grove in the Ringgold Community on 2.3 ac picturesque lot. Wonderful setting ideal for anyone wanting animals or recreation as there are fenced pastures, gates, and full perimeter fencing already in place. The multiple outbuildings are perfect for equipment, shelter, hobby space, toys, workshop, storage, etc. One of the outbuildings offers a studio apartment, adding living space for family or guests, plus another outbuilding is wired for office space. The main house has been well maintained but needs some minor cosmetic TLC. A screened in porch lets you enjoy the plentiful fresh air as well as a scenic view of the Henry County "Long Branch" water reservoir. This is an incredibly affordable choice for buyers wanting to live in a rural retreat, have a weekend getaway, or serve as an opportunity for savvy investors. This property is approved in the USDA eligibility map.

3. 2026-03-22
   price $239,000 1005-char remark

   Show marketing remark (1005 chars)

   This is a ROCK BOTTOM price for all this Country Charmer has to offer! Centrally located between Griffin and Locust Grove in the Ringgold Community on 2.3 ac picturesque lot. Wonderful setting ideal for anyone wanting animals or recreation as there are fenced pastures, gates, and full perimeter fencing already in place. The multiple outbuildings are perfect for equipment, shelter, hobby space, toys, workshop, storage, etc. One of the outbuildings offers a studio apartment, adding living space for family or guests, plus another outbuilding is wired for office space. The main house has been well maintained but needs some minor cosmetic TLC. A screened in porch lets you enjoy the plentiful fresh air as well as a scenic view of the Henry County "Long Branch" water reservoir. This is an incredibly affordable choice for buyers wanting to live in a rural retreat, have a weekend getaway, or serve as an opportunity for savvy investors. This property is approved in the USDA eligibility map.

4. 2026-02-26
   price $249,000 1005-char remark

   Show marketing remark (1005 chars)

   This is a ROCK BOTTOM price for all this Country Charmer has to offer! Centrally located between Griffin and Locust Grove in the Ringgold Community on 2.3 ac picturesque lot. Wonderful setting ideal for anyone wanting animals or recreation as there are fenced pastures, gates, and full perimeter fencing already in place. The multiple outbuildings are perfect for equipment, shelter, hobby space, toys, workshop, storage, etc. One of the outbuildings offers a studio apartment, adding living space for family or guests, plus another outbuilding is wired for office space. The main house has been well maintained but needs some minor cosmetic TLC. A screened in porch lets you enjoy the plentiful fresh air as well as a scenic view of the Henry County "Long Branch" water reservoir. This is an incredibly affordable choice for buyers wanting to live in a rural retreat, have a weekend getaway, or serve as an opportunity for savvy investors. This property is approved in the USDA eligibility map.

5. 2025-12-30
   listed $259,000 New 1005-char remark

   Show marketing remark (1005 chars)

   This is a ROCK BOTTOM price for all this Country Charmer has to offer! Centrally located between Griffin and Locust Grove in the Ringgold Community on 2.3 ac picturesque lot. Wonderful setting ideal for anyone wanting animals or recreation as there are fenced pastures, gates, and full perimeter fencing already in place. The multiple outbuildings are perfect for equipment, shelter, hobby space, toys, workshop, storage, etc. One of the outbuildings offers a studio apartment, adding living space for family or guests, plus another outbuilding is wired for office space. The main house has been well maintained but needs some minor cosmetic TLC. A screened in porch lets you enjoy the plentiful fresh air as well as a scenic view of the Henry County "Long Branch" water reservoir. This is an incredibly affordable choice for buyers wanting to live in a rural retreat, have a weekend getaway, or serve as an opportunity for savvy investors. This property is approved in the USDA eligibility map.

6. 2025-03-31
   historical
7. 2024-11-11
   status Back On Market
8. 2024-11-07
   historical
9. 2024-10-01
   listed $289,000 New
10. 2024-02-08
    historical
11. 2024-02-08
    historical
12. 2024-01-19
    status Back On Market
13. 2024-01-19
    status Active
14. 2023-12-20
    historical On Hold
15. 2023-11-20
    listed $289,000 New
16. 2023-11-17
    historical
17. 2023-10-13
    price $289,000
18. 2023-08-18
    listed $299,000 New
19. 2019-10-15
    soldstatus $200,000
20. 2004-03-19
    soldstatus $114,000
21. 2000-04-17
    soldstatus $80,000

ⓘ 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: $1,187 · $99/mo
• Projected year-2 tax: $2,023 · $169/mo
• Expected delta: +$836/yr (+$70/mo · 70.5%)

ⓘ 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 ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 32% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,210
• − Mortgage interest: −$12,318
• − Property taxes: −$1,187
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$6,397
• Taxable loss: −$3,184
• Est. tax savings @ 24.0%: +$764
• After-tax cash flow: $1,396/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: Griffin-Spalding County
• NCES district ID: 1302520
• Math proficiency: 13% ▼ -13.00%
• Reading proficiency: 19% ▼ -12.00%
• Median HH income: $40,895
• Composite: 13.71/100
• National rank: #9496
• State rank: #151 of 174 in GA

Livability — Locust Grove

• Score: 62/100
• State rank: #315
• US rank: #17034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henry County · 316,359 people
• City population: 36,038
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 36,038
• Household income: $83,823
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 485.0

Population outlook (Spalding County) Hauer SSP2

• Today (2025): 63,015 people
• By 2030: 61,689 · -2.1%
• By 2040: 57,932 · -8.1%
• By 2050: 53,474 · -15.1%
• By 2075: 43,228 · -31.4%
• By 2100: 32,290 · -48.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 51% Black 37% Hispanic / Latino 9% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Slovak 2% Italian 2% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · Spalding

• 2024 margin: R (+16.7) · D 41.4% · R 58.1%
• 2008→2024 swing: +2.1pp toward D · 2008: -18.8pp · 2024: -16.7pp
• All cycles: 2024: R+16.7 2020: R+20.8 2016: R+24.2 2012: R+20.0 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.09%
• Current HPI: 203.5358
• Rent YoY: ▲ 2.16%
• 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

+174.9% since first listed

21 events — show timeline

• 2026-05-12 Pending — GAMLS
• 2026-05-09 Price Changed $219,900 GAMLS
• 2026-03-22 Price Changed $239,000 GAMLS
• 2026-02-26 Price Changed $249,000 GAMLS
• 2025-12-30 Listed $259,000 GAMLS
• 2025-03-31 Listing Removed — GAMLS
• 2024-11-11 Relisted — GAMLS
• 2024-11-07 Listing Removed — GAMLS
• 2024-10-01 Listed $289,000 GAMLS
• 2024-02-08 Listing Removed — FMLS
• 2024-02-08 Listing Removed — GAMLS
• 2024-01-19 Relisted — GAMLS
• 2024-01-19 Relisted — FMLS
• 2023-12-20 Delisted — GAMLS
• 2023-11-20 Listed $289,000 GAMLS
• 2023-11-17 Listing Removed — GAMLS
• 2023-10-13 Price Changed $289,000 GAMLS
• 2023-08-18 Listed $299,000 GAMLS
• 2019-10-15 Sold (Public Records) $200,000 Public Records
• 2004-03-19 Sold (Public Records) $114,000 Public Records
• 2000-04-17 Sold (Public Records) $80,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,187 · +75.2% YoY. Source: county tax records.