6242 Green Acres Dr SW · Covington, GA 30014

$155,000

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 28 Days on market

Built 1972 10,018 sqft lot Est $120k · 29% over

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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 +22.8/30.0
• DSCR +7.3/10.0
• 1% rule +6.1/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and move-in ready home in Covington! This home offers a functional layout, spacious yard, and an affordable opportunity for first-time buyers, downsizers, or investors. Conveniently located near shopping, dining, and major roadways with easy access to everyday essentials. A great opportunity to own at an attractive price point with plenty of potential to make it your own. Schedule your showing today!

Key facts

• Spacious yard
• Easy access
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS YARD
• CONVENIENTLY LOCATED
• EASY ACCESS

Property features AI

Exterior

• Parking: 3 total parking spaces; 1 carport space; Carport
• Utilities: Public water; Septic tank sewer; Cable available; Electricity available
• Home design: One-level home; Resale property; Fee simple ownership
• Construction: Vinyl siding exterior; Composition roof; Brick/mortar foundation; Built above grade (finished area listed)
• Exterior features: Front porch; Concrete road frontage on a private road

Interior

• Kitchen: Breakfast bar; Electric cooktop; Electric oven; Microwave
• Bedrooms: 3 bedrooms with the primary suite on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom on the main level; Master bath has no special features
• Heating & cooling: Central heating; Central air conditioning
• Interior features: High speed internet; No shared/common walls
• Laundry & utility: Mud room laundry area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.8% in Covington — 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 59/100 on livability (#396 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime 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.
• Zoned schools: East Newton Elementary School (math 32% / reading 36%, grade F, #554 of 1,228 statewide, top 46%, 565 students, 53% FRL); Eastside High School (math 7% / reading 17%, grade F, #342 of 424 statewide, top 81%, 1,621 students, 46% FRL).
• Market conditions: Rents flat; 479 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($153k) 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.
• Current owner paid $115k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $152,675 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.11% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.49%
• DSCR: 1.33
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $120,384
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6286 Green Acres Dr SW	0.09mi	3/1.0	1,056 (0%)	0mo	$90,000	$85	96
6109 Oakwood Cir SW	0.11mi	3/1.0	1,056 (0%)	8mo	$82,000	$78	89
6186 Green Acres Dr SW	0.10mi	3/1.0	1,080 (+2%)	4mo	$75,000	$69	88
6250 Green Acres Dr	0.02mi	4/2.0 (+1)	1,056 (0%)	6mo	$106,000	$100	85
6154 Green Acres Dr SW	0.16mi	3/1.0	1,040 (-2%)	6mo	$75,000	$72	85
7127 Greenway Cv SW	0.29mi	3/2.0	1,065 (+1%)	6mo	$165,000	$155	76
7120 Chaney Dr SW	0.35mi	3/2.0	1,000 (-5%)	4mo	$130,000	$130	68
9160 Puckett St SW	0.65mi	3/1.0	1,053 (-0%)	6mo	$93,900	$89	64
6175 Petty St SW	0.30mi	2/1.0 (-1)	966 (-8%)	3mo	$130,000	$135	64
3148 Rebecca St SW	0.43mi	2/1.0 (-1)	960 (-9%)	2mo	$215,500	$224	58
5152 Petty St SW	0.28mi	2/1.0 (-1)	1,214 (+15%)	3mo	$205,000	$169	55
9186 Puckett St	0.70mi	2/2.0 (-1)	1,101 (+4%)	5mo	$125,000	$114	47

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 · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.72×
• Total profit: $-12,015
• Equity at exit: $23,111

10-year hold

• IRR: -1.7%
• Equity multiple: 0.90×
• Total profit: $-4,447
• 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 30014

• Home prices YoY: -19.2%
• Rents YoY: 0.5%
• Active inventory: 479
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,719 high
• Mortgage (P&I): −$813
• Tax from tax record: −$210 /mo · $2,518/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $271

Break-even live

Break-even rent $1,376

Max offer price $155,000

Occupancy floor 79%

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: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6100 Greenleaf Ct SW Covington, GA	3.0	1.0	1000	$1,400	$1.40	16d	1	0.08mi
6103 Oakwood Cir SW Covington, GA	3.0	2.0	1372	$900	$0.66	17d	1	0.12mi
6154 Green Acres Dr SW Covington, GA	3.0	1.0	1040	$1,900	$1.83	24d	1	0.16mi
8246 Collier St SW Covington, GA	3.0	1.0	1225	$1,300	$1.06	43d	1	0.45mi
9123 Jefferson Village Dr SW Covington, GA	3.0	2.0	1220	$1,750	$1.43	22d	1	0.66mi
9135 Jefferson Village Dr SW Covington, GA	3.0	2.5	1126	$1,736	$1.54	5d	1	0.68mi
9161 Thrash St SW Covington, GA	4.0	2.0	1272	$1,481	$1.16	43d	1	0.78mi
3233 West St Covington, GA	2.0	1.0	833	$1,195	$1.43	43d	1	0.81mi
8000 Revolution WAY Covington, GA	2.0	2.0	1170	$1,692	$1.45	1d	15	0.95mi
10154 Allen Dr SW Covington, GA	3.0	2.0	1056	$1,800	$1.70	5d	1	0.98mi
10154 Allen Dr SW Covington, GA	3.0	2.0	1056	$1,800	$1.70	20d	1	0.98mi
5132 Avery St SW Unit A (APT 101) Covington, GA	2.0	2.0	900	$1,600	$1.78	5d	1	0.99mi
8189 Spillers Dr SW Covington, GA	2.0	2.5	1080	$1,395	$1.29	5d	1	1.27mi
100 Fleeta Dr Covington, GA	3.0	2.0	1379	$1,550	$1.12	5d	1	1.49mi

Listing history 18 events

1. 2026-06-18
   days on market $155,000 Active 28 DOM
2. 2026-06-17
   days on market $155,000 Active 27 DOM
3. 2026-06-16
   days on market $155,000 Active 26 DOM
4. 2026-06-15
   days on market $155,000 Active 25 DOM
5. 2026-06-13
   days on market $155,000 Active 23 DOM
6. 2026-06-13
   days on market $155,000 Active 22 DOM
7. 2026-06-09
   days on market $155,000 Active 19 DOM
8. 2026-06-08
   days on market $155,000 Active 18 DOM
9. 2026-06-07
   days on market $155,000 Active 17 DOM
10. 2026-06-04
    days on market $155,000 Active 14 DOM
11. 2026-06-03
    days on market $155,000 Active 13 DOM
12. 2026-06-02
    days on market $155,000 Active 12 DOM
13. 2026-06-01
    days on market $155,000 Active 11 DOM
14. 2026-05-31
    days on market $155,000 Active 10 DOM
15. 2026-05-18
    listed $155,000 New 412-char remark

    Show marketing remark (412 chars)

    Charming and move-in ready home in Covington! This home offers a functional layout, spacious yard, and an affordable opportunity for first-time buyers, downsizers, or investors. Conveniently located near shopping, dining, and major roadways with easy access to everyday essentials. A great opportunity to own at an attractive price point with plenty of potential to make it your own. Schedule your showing today!

16. 2026-05-18
    listed $155,000 Active

    Show marketing remark (412 chars)

    Charming and move-in ready home in Covington! This home offers a functional layout, spacious yard, and an affordable opportunity for first-time buyers, downsizers, or investors. Conveniently located near shopping, dining, and major roadways with easy access to everyday essentials. A great opportunity to own at an attractive price point with plenty of potential to make it your own. Schedule your showing today!

17. 2020-01-28
    soldstatus $115,000
18. 1977-06-25
    soldstatus $21,000

ⓘ 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: $2,518 · $210/mo
• Projected year-2 tax: $2,518 · $210/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 · 18 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,630
• − Mortgage interest: −$8,682
• − Property taxes: −$2,518
• − Insurance: −$775
• − Repairs & maintenance: −$1,650
• − Management: −$1,650
• − Depreciation: −$4,509
• Taxable income: $845
• Est. tax owed @ 24.0%: −$203
• After-tax cash flow: $3,048/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 — Covington

• Score: 59/100
• State rank: #396
• US rank: #19602

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Covington, GA
• County: Newton County · 104,393 people
• City population: 104,393
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 41,425
• Household income: $72,254
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1934.0

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 0.59)
• Race & ethnicity: White 53% Black 35% Hispanic / Latino 7% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 7% · Canada
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 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: ▼ -64.50%
• Current HPI: 270.9868
• Rent YoY: ▲ 0.52%
• 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

+638.1% since first listed

4 events — show timeline

• 2026-05-18 Listed $155,000 FMLS
• 2026-05-18 Listed $155,000 GAMLS
• 2020-01-28 Sold (Public Records) $115,000 Public Records
• 1977-06-25 Sold (Public Records) $21,000 Public Records

Property tax history

+16.2%/yr

Latest (2025): $2,518 · +4.5% YoY. Source: county tax records.