103 Pine Ave · Griffin, GA 30224

$210,000

2 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 30 Days on market

Built 1959 0.57 ac lot $158/sqft · at area comps Est $214k · at est.

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Why this score? — see what drove the F 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 +11.0/30.0
• ARV discount +8.4/15.0
• DSCR +3.2/10.0
• Rent growth +2.9/5.0
• Livability +2.7/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this wonderful three bedroom and one bath home. Has bonus room that could easily be converted to fourth bedroom. Beautiful hardwood floors and fresh paint! Great location and close to shopping schools and downtown Griffin. This is a must see. Back on the market due to no fault of Seller. Their loss is your gain!

Key facts

• Metal roof
• Floored attic
• Custom blinds

Tags

• METAL ROOF
• ORIGINAL HARDWOOD FLOORS
• UPDATED DOUBLE PANE WINDOWS
• TANKLESS WATER HEATER
• CUSTOM BLINDS
• FLOORED ATTIC

Property features AI

Finance

• Other: Assumable financing available; accepts cash, conventional, FHA and VA loans
• HOA & community: No homeowners association

Exterior

• Parking: Open parking; Guest parking; Parking pad
• Utilities: Public water; Septic tank; Electricity available; Natural gas available; High-speed internet available; Cable available; Phone service available
• Home design: Single family residence; House; Resale property
• Construction: Built in 1959; Brick and vinyl siding exterior; Metal roof; Crawl space foundation
• Exterior features: Level lot; Street lights nearby; Near shopping

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator; Ice maker
• Bedrooms: Three bedrooms on the main level
• Flooring: Hardwood floors; Vinyl flooring
• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: One-level living; Bonus room; Family room; Office; Mud room; Other flexible living space
• Laundry & utility: Washer; Dryer; Mud room laundry area; Tankless water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (24.5% below list).
• Recommended offer: $158k (24.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.3% in Griffin — 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 54/100 on livability (#529 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, 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.
• Market conditions: Rents rising (+1.4%/yr); 237 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $6k 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 30 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $169k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 43% 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 $158,497 (24.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.75% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.80%
• DSCR: 0.92
• GRM: 11.0

CMA / ARV

• ARV (median comp): $214,321
• List price: $210,000
• Delta: -2.02%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Pine Ave SW	0.05mi	2/2.0	1,358 (+2%)	0mo	$205,000	$151	89
125 Woodlawn Ave	0.22mi	3/1.0 (+1)	1,200 (-10%)	11mo	$195,000	$163	60
205 Laurel St	0.30mi	3/1.0 (+1)	1,496 (+13%)	1mo	$175,000	$117	59
210 Woodlawn Ave	0.19mi	3/2.0 (+1)	1,222 (-8%)	13mo	$165,000	$135	58
109 Maddox Rd	0.30mi	3/2.0 (+1)	1,468 (+11%)	6mo	$225,000	$153	54
129 Woodmont Dr	0.72mi	3/2.0 (+1)	1,352 (+2%)	11mo	$236,000	$175	45
216 Brashier St	0.41mi	3/2.0 (+1)	1,461 (+10%)	14mo	$230,000	$157	43
115 Woodmont Dr	0.73mi	3/2.0 (+1)	1,362 (+3%)	16mo	$259,000	$190	39
285 Wesley Ave	0.38mi	3/2.0 (+1)	1,162 (-12%)	17mo	$207,000	$178	38
206 Brown Acres Rd	0.46mi	3/2.0 (+1)	1,493 (+13%)	14mo	$200,000	$134	37
115 Mckinley Dr	0.65mi	3/2.0 (+1)	1,448 (+9%)	10mo	$230,250	$159	36
103 Azalea Dr	0.40mi	3/2.0 (+1)	1,150 (-13%)	21mo	$199,900	$174	32

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 · 1.42% rent growth · sell at horizon

5-year hold

• IRR: -20.9%
• Equity multiple: 0.28×
• Total profit: $-42,175
• Equity at exit: $31,312

10-year hold

• IRR: -18.1%
• Equity multiple: 0.08×
• Total profit: $-54,004
• Equity at exit: $18,157

Cash invested: $58,800 (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 30224

• Rents YoY: 1.4%
• Active inventory: 237
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,585 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$152 /mo · $1,819/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $-88

Break-even live

Break-even rent $1,697

Max offer price $194,410

Occupancy floor —

Sensitivity live

Price	-10% $31	-5% $-29	+0% $-88	+5% $-148	+10% $-207
Rent	-10% $-213	-5% $-151	+0% $-88	+5% $-26	+10% $37
Rate	-1.0pp $18	-0.5pp $-35	base $-88	+0.5pp $-143	+1.0pp $-198

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1022 Beck St Griffin, GA	3.0	1.0	900	$1,250	$1.39	44d	1	1.31mi
1348 Maple Dr Griffin, GA	3.0	2.0	1493	$1,795	$1.20	44d	1	1.47mi

Listing history 18 events

1. 2026-06-01
   days on market $210,000 Active 30 DOM
2. 2026-05-31
   days on market $210,000 Active 29 DOM
3. 2026-05-12
   price $210,000 1045-char remark
4. 2026-05-01
   listed $215,000 New 1045-char remark
5. 2021-09-20
   soldstatus $169,000
6. 2021-09-17
   soldstatus $169,000 Sold 329-char remark

   Show marketing remark (329 chars)

   Come see this wonderful three bedroom and one bath home. Has bonus room that could easily be converted to fourth bedroom. Beautiful hardwood floors and fresh paint! Great location and close to shopping schools and downtown Griffin. This is a must see. Back on the market due to no fault of Seller. Their loss is your gain!

7. 2021-07-21
   status Under Contract 329-char remark

   Show marketing remark (329 chars)

   Come see this wonderful three bedroom and one bath home. Has bonus room that could easily be converted to fourth bedroom. Beautiful hardwood floors and fresh paint! Great location and close to shopping schools and downtown Griffin. This is a must see. Back on the market due to no fault of Seller. Their loss is your gain!

8. 2021-07-01
   price $169,700 329-char remark

   Show marketing remark (329 chars)

   Come see this wonderful three bedroom and one bath home. Has bonus room that could easily be converted to fourth bedroom. Beautiful hardwood floors and fresh paint! Great location and close to shopping schools and downtown Griffin. This is a must see. Back on the market due to no fault of Seller. Their loss is your gain!

9. 2021-06-28
   status Back on Market 329-char remark

   Show marketing remark (329 chars)

   Come see this wonderful three bedroom and one bath home. Has bonus room that could easily be converted to fourth bedroom. Beautiful hardwood floors and fresh paint! Great location and close to shopping schools and downtown Griffin. This is a must see. Back on the market due to no fault of Seller. Their loss is your gain!

10. 2021-06-18
    status Under Contract 329-char remark

    Show marketing remark (329 chars)

    Come see this wonderful three bedroom and one bath home. Has bonus room that could easily be converted to fourth bedroom. Beautiful hardwood floors and fresh paint! Great location and close to shopping schools and downtown Griffin. This is a must see. Back on the market due to no fault of Seller. Their loss is your gain!

11. 2021-06-10
    listed $175,000 New 329-char remark

    Show marketing remark (329 chars)

    Come see this wonderful three bedroom and one bath home. Has bonus room that could easily be converted to fourth bedroom. Beautiful hardwood floors and fresh paint! Great location and close to shopping schools and downtown Griffin. This is a must see. Back on the market due to no fault of Seller. Their loss is your gain!

12. 2018-08-13
    soldstatus $84,500
13. 2018-08-10
    soldstatus $84,500 Sold

    Show marketing remark (614 chars)

    PERFECT HOUSE IN NICE QUIET AREA CONVENIENT TO AIRPORT WALKING TRACK, RESTAURANTS, AND STORES.THIS IS AN ESTATE SALE SO THERE IS NO DISCLOSURE. THE THINGS WE DO KNOW ARE THAT THE METAL ROOF WAS INSTALLED ABOUT 1 1/2 YEARS AGO. THERE IS A TANK-LESS HOT WATER HEATER. NEW CABINETS, FLOORS, AND APPLIANCES IN KITCHEN. BONUS ROOM NEW FLOORS AND HAS PTAC SELF CONTAINED HEAT & AIR UNIT. NEW PAINT IN ALL ROOMS, NEW FLOORING IN BATHROOM. WASHER & DRYER STAY. PULL DOWN ATTIC STAIRS & ATTIC IS COMPLETELY FLOORED FOR STORAGE. CALL AGENT FOR APPOINTMENT. TAX RECORDS DO NOT INDICATE THE CORRECT SQUARE FOOTAGE.

14. 2018-06-27
    status Under Contract

    Show marketing remark (614 chars)

    PERFECT HOUSE IN NICE QUIET AREA CONVENIENT TO AIRPORT WALKING TRACK, RESTAURANTS, AND STORES.THIS IS AN ESTATE SALE SO THERE IS NO DISCLOSURE. THE THINGS WE DO KNOW ARE THAT THE METAL ROOF WAS INSTALLED ABOUT 1 1/2 YEARS AGO. THERE IS A TANK-LESS HOT WATER HEATER. NEW CABINETS, FLOORS, AND APPLIANCES IN KITCHEN. BONUS ROOM NEW FLOORS AND HAS PTAC SELF CONTAINED HEAT & AIR UNIT. NEW PAINT IN ALL ROOMS, NEW FLOORING IN BATHROOM. WASHER & DRYER STAY. PULL DOWN ATTIC STAIRS & ATTIC IS COMPLETELY FLOORED FOR STORAGE. CALL AGENT FOR APPOINTMENT. TAX RECORDS DO NOT INDICATE THE CORRECT SQUARE FOOTAGE.

15. 2018-06-25
    listed $82,500 New

    Show marketing remark (614 chars)

    PERFECT HOUSE IN NICE QUIET AREA CONVENIENT TO AIRPORT WALKING TRACK, RESTAURANTS, AND STORES.THIS IS AN ESTATE SALE SO THERE IS NO DISCLOSURE. THE THINGS WE DO KNOW ARE THAT THE METAL ROOF WAS INSTALLED ABOUT 1 1/2 YEARS AGO. THERE IS A TANK-LESS HOT WATER HEATER. NEW CABINETS, FLOORS, AND APPLIANCES IN KITCHEN. BONUS ROOM NEW FLOORS AND HAS PTAC SELF CONTAINED HEAT & AIR UNIT. NEW PAINT IN ALL ROOMS, NEW FLOORING IN BATHROOM. WASHER & DRYER STAY. PULL DOWN ATTIC STAIRS & ATTIC IS COMPLETELY FLOORED FOR STORAGE. CALL AGENT FOR APPOINTMENT. TAX RECORDS DO NOT INDICATE THE CORRECT SQUARE FOOTAGE.

16. 2017-11-21
    status Under Contract
17. 2017-11-20
    historical
18. 2017-11-19
    listed $67,900 New

ⓘ 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: $1,819 · $152/mo
• Projected year-2 tax: $1,932 · $161/mo
• Expected delta: +$113/yr (+$9/mo · 6.2%)

ⓘ 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 ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 43% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,020
• − Mortgage interest: −$11,763
• − Property taxes: −$1,819
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$6,109
• Taxable loss: −$4,765
• Est. tax savings @ 24.0%: +$1,144
• After-tax cash flow: $85/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 — Griffin

• Score: 54/100
• State rank: #529
• US rank: #23746

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Spalding County · 66,676 people
• City population: 28,414
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 28,414
• Household income: $70,216
• Rent vs Own: 34.1% rent · 65.9% own
• Severe rent burden: 735.0

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: Majority White (60%)
• Race & ethnicity: White 60% Black 31% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Serbian 1% Slovak 1% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -181.83%
• Current HPI: 232.3039
• Rent YoY: ▲ 1.42%
• 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

+209.3% since first listed

17 events — show timeline

• 2026-06-01 Listing Removed — GAMLS
• 2026-05-12 Price Changed $210,000 GAMLS
• 2026-05-01 Listed $215,000 GAMLS
• 2021-09-20 Sold (Public Records) $169,000 Public Records
• 2021-09-17 Sold (MLS) $169,000 GAMLS
• 2021-07-21 Pending — GAMLS
• 2021-07-01 Price Changed $169,700 GAMLS
• 2021-06-28 Relisted — GAMLS
• 2021-06-18 Pending — GAMLS
• 2021-06-10 Listed $175,000 GAMLS
• 2018-08-13 Sold (Public Records) $84,500 Public Records
• 2018-08-10 Sold (MLS) $84,500 GAMLS
• 2018-06-27 Pending — GAMLS
• 2018-06-25 Listed $82,500 GAMLS
• 2017-11-21 Pending — GAMLS
• 2017-11-20 Listing Removed — GAMLS
• 2017-11-19 Listed $67,900 GAMLS

Property tax history

+4.8%/yr

Latest (2025): $1,819 · -1.1% YoY. Source: county tax records.