100 Horton Dr · Eatonton, GA 31024

$235,000

2 bd · 2.0 ba · 1,775 sqft · MultiFamily public records · 22 Days on market

Built 1997 2.10 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Duplex Investment Opportunity on 2.1 Acres – Near Lake Oconee: Income-producing duplex property situated on 2.1 private acres, offering both immediate cash flow and strong future development potential. Property Highlights: Duplex with 2 units (separately metered electric for each unit); Private well water and septic system; No carpet throughout units; Roof replaced less than 5 years ago with 30-year shingles; Freshly stained covered deck with high-quality 15-year stain; Two-unit storage shed located at the rear of the property. Future Potential: 2.1-acre lot supports potential up to 6-unit development (buyer to verify zoning and approvals). Location & Setting: Conveniently located near Lake Oconee; Backs up to the Stillwater stream from the Lake Oconee spillway, providing a peaceful natural setting and relaxing water sounds.

Key facts

• Covered deck
• 2.1 acres
• Two unit shed

Tags

• 2.1 ACRES
• SEPTIC SYSTEM
• WELL WATER PUMPING SYSTEM
• SEPARATE METERED
• COVERED DECK
• TWO UNIT SHED

Property features AI

Exterior

• Parking: Driveway; Open parking available
• Utilities: Well water; Septic tank; Electric service with 110V and 220V; Electricity available; Underground utilities; Water available
• Home design: One-level home; Vinyl siding; Shingle roof; Resale condition; Concrete perimeter foundation
• Construction: Vinyl siding construction; Shingle roof; Concrete perimeter foundation
• Exterior features: Private entrance; Rear stairs; Storage; Deck; Waterfront

Interior

• Kitchen: Country-style kitchen with view to family room; Electric oven; Electric range; Refrigerator
• Bedrooms: Master on main; Two main-level bedrooms
• Flooring: Laminate; Luxury vinyl
• Bathrooms: Two full bathrooms; Master bath with tub/shower combo
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Insulated windows; 1 common wall; Other interior features; Crawl space basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $235k).
• Recommended offer: $231k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 3.7% in Eatonton — 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 71/100 on livability (#76 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Putnam County (rural): math 33% / reading 30% proficiency, ranked #86 of 174 in GA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Putnam County Primary School (756 students, 81% FRL); Putnam County Middle School (math 31% / reading 33%, grade F, #229 of 470 statewide, top 49%, 681 students, 81% FRL); Putnam County High School (math 8% / reading 32%, grade F, #238 of 424 statewide, top 57%, 919 students, 81% FRL).
• Market conditions: 524 active listings in the ZIP; 129 units permitted in Putnam County in 2024 (50 in 5+ unit buildings).
• At $3,511/mo this rent would consume 64% of the median local household income ($66k/yr) (locally 696% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Putnam County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $66k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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.
• Current owner paid $136k; list at $235k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 41% 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 $231,475 (1.5% below list)

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. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.49% ✓
• Cap rate: 13.02%
• Cash-on-cash: 24.04%
• DSCR: 2.07
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 17.3%
• Equity multiple: 1.70×
• Total profit: $45,830
• Equity at exit: $35,039

10-year hold

• IRR: 25.7%
• Equity multiple: 3.25×
• Total profit: $147,815
• Equity at exit: $20,319

Cash invested: $65,800 (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 31024

• Active inventory: 524
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $3,511 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$125 /mo · $1,502/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$737
• Net cashflow: $1,318

Break-even live

Break-even rent $1,842

Max offer price $235,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,451	-5% $1,385	+0% $1,318	+5% $1,252	+10% $1,185
Rent	-10% $1,041	-5% $1,180	+0% $1,318	+5% $1,457	+10% $1,596
Rate	-1.0pp $1,437	-0.5pp $1,378	base $1,318	+0.5pp $1,257	+1.0pp $1,195

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,510
Total (2 units)			$3,511

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $235,000 Active 22 DOM
2. 2026-06-19
   days on market $235,000 Active 20 DOM
3. 2026-06-18
   days on market $235,000 Active 19 DOM
4. 2026-06-17
   days on market $235,000 Active 18 DOM
5. 2026-06-16
   days on market $235,000 Active 17 DOM
6. 2026-06-15
   days on market $235,000 Active 16 DOM
7. 2026-06-14
   days on market $235,000 Active 14 DOM
8. 2026-06-12
   days on market $235,000 Active 13 DOM
9. 2026-06-09
   days on market $235,000 Active 10 DOM
10. 2026-06-08
    days on market $235,000 Active 9 DOM
11. 2026-06-07
    days on market $235,000 Active 8 DOM
12. 2026-06-05
    days on market $235,000 Active 5 DOM
13. 2026-06-03
    days on market $235,000 Active 4 DOM
14. 2026-06-03
    remarks 699-char remark
15. 2026-06-03
    statusdays on marketlisting id $235,000 Active 3 DOM
16. 2026-06-02
    days on market $235,000 Active Under Contract 36 DOM
17. 2026-06-01
    days on market $235,000 Active Under Contract 35 DOM

    Show marketing remark (861 chars)

    Duplex Investment Opportunity on 2.1 Acres – Near Lake Oconee: Income-producing duplex property situated on 2.1 private acres, offering both immediate cash flow and strong future development potential. Property Highlights: Duplex with 2 units (separately metered electric for each unit); Private well water and septic system; No carpet throughout units; Roof replaced less than 5 years ago with 30-year shingles; Freshly stained covered deck with high-quality 15-year stain; Two-unit storage shed located at the rear of the property. Future Potential: 2.1-acre lot supports potential up to 6-unit development (buyer to verify zoning and approvals). Location & Setting: Conveniently located near Lake Oconee; Backs up to the Stillwater stream from the Lake Oconee spillway, providing a peaceful natural setting and relaxing water sounds.

18. 2026-06-01
    status $235,000 Active Under Contract 34 DOM

    Show marketing remark (861 chars)

    Duplex Investment Opportunity on 2.1 Acres – Near Lake Oconee: Income-producing duplex property situated on 2.1 private acres, offering both immediate cash flow and strong future development potential. Property Highlights: Duplex with 2 units (separately metered electric for each unit); Private well water and septic system; No carpet throughout units; Roof replaced less than 5 years ago with 30-year shingles; Freshly stained covered deck with high-quality 15-year stain; Two-unit storage shed located at the rear of the property. Future Potential: 2.1-acre lot supports potential up to 6-unit development (buyer to verify zoning and approvals). Location & Setting: Conveniently located near Lake Oconee; Backs up to the Stillwater stream from the Lake Oconee spillway, providing a peaceful natural setting and relaxing water sounds.

19. 2026-05-31
    days on market $235,000 Active 34 DOM
20. 2026-05-30
    days on market $235,000 Active 33 DOM
21. 2026-04-23
    listed $235,000 Active

    Show marketing remark (861 chars)

    Duplex Investment Opportunity on 2.1 Acres – Near Lake Oconee: Income-producing duplex property situated on 2.1 private acres, offering both immediate cash flow and strong future development potential. Property Highlights: Duplex with 2 units (separately metered electric for each unit); Private well water and septic system; No carpet throughout units; Roof replaced less than 5 years ago with 30-year shingles; Freshly stained covered deck with high-quality 15-year stain; Two-unit storage shed located at the rear of the property. Future Potential: 2.1-acre lot supports potential up to 6-unit development (buyer to verify zoning and approvals). Location & Setting: Conveniently located near Lake Oconee; Backs up to the Stillwater stream from the Lake Oconee spillway, providing a peaceful natural setting and relaxing water sounds.

22. 2026-04-23
    listed $235,000 Active 861-char remark

    Show marketing remark (861 chars)

    Duplex Investment Opportunity on 2.1 Acres – Near Lake Oconee: Income-producing duplex property situated on 2.1 private acres, offering both immediate cash flow and strong future development potential. Property Highlights: Duplex with 2 units (separately metered electric for each unit); Private well water and septic system; No carpet throughout units; Roof replaced less than 5 years ago with 30-year shingles; Freshly stained covered deck with high-quality 15-year stain; Two-unit storage shed located at the rear of the property. Future Potential: 2.1-acre lot supports potential up to 6-unit development (buyer to verify zoning and approvals). Location & Setting: Conveniently located near Lake Oconee; Backs up to the Stillwater stream from the Lake Oconee spillway, providing a peaceful natural setting and relaxing water sounds.

23. 2021-11-01
    soldstatus $136,000
24. 2021-10-28
    soldstatus $136,000 Sold

    Show marketing remark (455 chars)

    Well maintained duplex unit on 2 acres located on the Little River! New roof, newly built covered decks, one of the unit was just remodeled. Both units features 2 nicely sized bedrooms, a spacious bathroom, a large living room, eat-in kitchen, a covered front stoop, a good sized covered deck and a shared storage building. The peaceful babbling sounds of the river can be heard in the back yard. Both units are leased month to month to longtime tenants.

25. 2021-09-25
    status Under Contract

    Show marketing remark (455 chars)

    Well maintained duplex unit on 2 acres located on the Little River! New roof, newly built covered decks, one of the unit was just remodeled. Both units features 2 nicely sized bedrooms, a spacious bathroom, a large living room, eat-in kitchen, a covered front stoop, a good sized covered deck and a shared storage building. The peaceful babbling sounds of the river can be heard in the back yard. Both units are leased month to month to longtime tenants.

26. 2021-09-17
    listed $129,900 New

    Show marketing remark (455 chars)

    Well maintained duplex unit on 2 acres located on the Little River! New roof, newly built covered decks, one of the unit was just remodeled. Both units features 2 nicely sized bedrooms, a spacious bathroom, a large living room, eat-in kitchen, a covered front stoop, a good sized covered deck and a shared storage building. The peaceful babbling sounds of the river can be heard in the back yard. Both units are leased month to month to longtime tenants.

ⓘ 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: $1,502 · $125/mo
• Projected year-2 tax: $2,162 · $180/mo
• Expected delta: +$660/yr (+$55/mo · 44.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 41% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,132
• − Mortgage interest: −$13,164
• − Property taxes: −$1,502
• − Insurance: −$1,175
• − Repairs & maintenance: −$3,371
• − Management: −$3,371
• − Depreciation: −$6,836
• Taxable income: $12,714
• Est. tax owed @ 24.0%: −$3,051
• After-tax cash flow: $12,768/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: Putnam County
• NCES district ID: 1304260
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $44,038
• Composite: 26.9/100
• National rank: #7088
• State rank: #86 of 174 in GA

Livability — Eatonton

• Score: 71/100
• State rank: #76
• US rank: #6665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Putnam County · 21,601 people
• City population: 21,601
• Metro: nan
• Population (ZIP): 21,601
• Household income: $65,971
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 696.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 20,747 people
• By 2030: 20,163 · -2.8%
• By 2040: 18,680 · -10.0%
• By 2050: 17,117 · -17.5%
• By 2075: 13,269 · -36.0%
• By 2100: 9,234 · -55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+42.2) · D 28.7% · R 71.0%
• 2008→2024 swing: -10.9pp toward R · 2008: -31.4pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.9 2016: R+40.0 2012: R+35.8 2008: R+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.84%
• Current HPI: 269.8265
• Rent YoY: —
• Metro: nan
• 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

+80.9% since first listed

8 events — show timeline

• 2026-06-02 Relisted — FMLS
• 2026-06-01 Contingent — FMLS
• 2026-04-23 Listed $235,000 FMLS
• 2026-04-23 Listed $235,000 FMLS
• 2021-11-01 Sold (Public Records) $136,000 Public Records
• 2021-10-28 Sold (MLS) $136,000 GAMLS
• 2021-09-25 Pending — GAMLS
• 2021-09-17 Listed $129,900 GAMLS

Property tax history

+5.4%/yr

Latest (2025): $1,502 · +16.4% YoY. Source: county tax records.