122 Alexander Rd · McDonough, GA 30253

$189,900

2 bd · 2.0 ba · 1,400 sqft · SingleFamily public records · 94 Days on market

Built 1961 1.00 ac lot $136/sqft · 37% below area Est $299k · 37% under

---

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 +15.5/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +4.8/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable 2BR/2BA home featuring an open living and dining room combo and an additional flex space ideal for an office or great room. Major updates completed in 2018 include electrical, plumbing, roof, and spray foam insulation. Spacious primary suite offers a double vanity and tile shower. Home is in need of some repairs and is priced to move-perfect opportunity for investors or first-time homebuyers looking to add value.

Key facts

• Double vanity
• Flex space
• Major updates

Tags

• OPEN LIVING AND DINING ROOM
• FLEX SPACE
• MAJOR UPDATES
• DOUBLE VANITY
• TILE SHOWER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $77 ($920/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 $189k (0.5% below list).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 3.9% in McDonough — 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 63/100 on livability (#279 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools D, crime D, amenities F.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-0.3%/yr); 663 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,989 units permitted in Henry County in 2024 (92 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.
• Henry County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 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 1961 — 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 D-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. Crime grade is D 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?
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: 1.00% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.73%
• DSCR: 1.08
• GRM: 8.4

CMA / ARV

• ARV (median comp): $299,123
• List price: $189,900
• Delta: -36.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
276 Oakland Rd	0.67mi	3/2.0 (+1)	1,232 (-12%)	6mo	$185,000	$150	39

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.41×
• Total profit: $-31,334
• Equity at exit: $28,315

10-year hold

• IRR: -16.7%
• Equity multiple: 0.21×
• Total profit: $-42,028
• Equity at exit: $16,419

Cash invested: $53,172 (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 30253

• Home prices YoY: -29.4%
• Rents YoY: -0.3%
• Active inventory: 663
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,890 high
• Mortgage (P&I): −$996
• Tax from tax record: −$342 /mo · $4,099/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $77

Break-even live

Break-even rent $1,793

Max offer price $189,900

Occupancy floor 91%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Birch Creek Cir McDonough, GA	3.0	2.0	1562	$1,905	$1.22	43d	1	0.34mi
325 Southpoint Blvd McDonough, GA	3.0	2.0	1334	$2,516	$1.89	24d	1	0.90mi
325 Southpoint Blvd McDonough, GA	2.0	2.0	1106	$1,997	$1.81	44d	1	0.90mi
601 Nail Rd McDonough, GA	1.0–3.0	1.0–2.0	1099	$1,685	$1.53	2d	21	0.95mi
1690 Georgia 20 McDonough, GA	1.0	1.0	1004	$1,465	$1.46	24d	1	0.95mi
300 Highway 81 W McDonough, GA	3.0	1.0–2.0	926	$2,088	$2.25	1d	37	1.05mi
1690 Georgia Crown Dr McDonough, GA	1.0–3.0	1.0–2.0	1170	$1,774	$1.52	1d	14	1.18mi
300 Ashton Pl McDonough, GA	3.0	3.0	1504	$2,000	$1.33	43d	1	1.50mi

Listing history 23 events

1. 2026-06-18
   days on market $189,900 Active 94 DOM
2. 2026-06-17
   days on market $189,900 Active 93 DOM
3. 2026-06-16
   days on market $189,900 Active 92 DOM
4. 2026-06-15
   days on market $189,900 Active 91 DOM
5. 2026-06-13
   days on market $189,900 Active 89 DOM
6. 2026-06-09
   days on market $189,900 Active 85 DOM
7. 2026-06-08
   days on market $189,900 Active 84 DOM
8. 2026-06-07
   days on market $189,900 Active 83 DOM
9. 2026-06-04
   days on market $189,900 Active 80 DOM
10. 2026-06-03
    days on market $189,900 Active 79 DOM
11. 2026-06-02
    days on market $189,900 Active 78 DOM
12. 2026-06-01
    days on market $189,900 Active 77 DOM
13. 2026-05-31
    days on market $189,900 Active 76 DOM
14. 2026-05-11
    status Back On Market 425-char remark

    Show marketing remark (425 chars)

    Adorable 2BR/2BA home featuring an open living and dining room combo and an additional flex space ideal for an office or great room. Major updates completed in 2018 include electrical, plumbing, roof, and spray foam insulation. Spacious primary suite offers a double vanity and tile shower. Home is in need of some repairs and is priced to move-perfect opportunity for investors or first-time homebuyers looking to add value.

15. 2026-04-14
    status Under Contract 425-char remark

    Show marketing remark (425 chars)

    Adorable 2BR/2BA home featuring an open living and dining room combo and an additional flex space ideal for an office or great room. Major updates completed in 2018 include electrical, plumbing, roof, and spray foam insulation. Spacious primary suite offers a double vanity and tile shower. Home is in need of some repairs and is priced to move-perfect opportunity for investors or first-time homebuyers looking to add value.

16. 2026-03-31
    status Back On Market 425-char remark

    Show marketing remark (425 chars)

    Adorable 2BR/2BA home featuring an open living and dining room combo and an additional flex space ideal for an office or great room. Major updates completed in 2018 include electrical, plumbing, roof, and spray foam insulation. Spacious primary suite offers a double vanity and tile shower. Home is in need of some repairs and is priced to move-perfect opportunity for investors or first-time homebuyers looking to add value.

17. 2026-03-24
    historical 425-char remark

    Show marketing remark (425 chars)

    Adorable 2BR/2BA home featuring an open living and dining room combo and an additional flex space ideal for an office or great room. Major updates completed in 2018 include electrical, plumbing, roof, and spray foam insulation. Spacious primary suite offers a double vanity and tile shower. Home is in need of some repairs and is priced to move-perfect opportunity for investors or first-time homebuyers looking to add value.

18. 2026-02-10
    listed $189,900 New 425-char remark

    Show marketing remark (425 chars)

    Adorable 2BR/2BA home featuring an open living and dining room combo and an additional flex space ideal for an office or great room. Major updates completed in 2018 include electrical, plumbing, roof, and spray foam insulation. Spacious primary suite offers a double vanity and tile shower. Home is in need of some repairs and is priced to move-perfect opportunity for investors or first-time homebuyers looking to add value.

19. 2022-02-16
    soldstatus $220,000
20. 2022-02-14
    soldstatus $220,000 Sold 738-char remark

    Show marketing remark (738 chars)

    Check out this recently renovated farm house! Seller thought of every detail on this one. 2 bed/ 2 bath over 1500 sq ft. Upgrades started in 2018 with All new electrical, plumbing, and Spray foam insulation on all sides. LVP flooring throughout the house. Granite countertops in the kitchen with stainless steel appliances, includes gas stove, and a huge farm house sink! Laundry room located in the mud room and includes plenty of space for storage. All bathrooms include front lighted LED vanity mirrors. Master bath with double vanity & huge walk in tiled shower. Includes an additional room for a home office. Front screened porch offers plenty of privacy. Property sits on a quiet lot with 1 acre of land. Hurry before its gone!

21. 2022-01-31
    status Under Contract 738-char remark

    Show marketing remark (738 chars)

    Check out this recently renovated farm house! Seller thought of every detail on this one. 2 bed/ 2 bath over 1500 sq ft. Upgrades started in 2018 with All new electrical, plumbing, and Spray foam insulation on all sides. LVP flooring throughout the house. Granite countertops in the kitchen with stainless steel appliances, includes gas stove, and a huge farm house sink! Laundry room located in the mud room and includes plenty of space for storage. All bathrooms include front lighted LED vanity mirrors. Master bath with double vanity & huge walk in tiled shower. Includes an additional room for a home office. Front screened porch offers plenty of privacy. Property sits on a quiet lot with 1 acre of land. Hurry before its gone!

22. 2022-01-14
    listed $199,900 New 738-char remark

    Show marketing remark (738 chars)

    Check out this recently renovated farm house! Seller thought of every detail on this one. 2 bed/ 2 bath over 1500 sq ft. Upgrades started in 2018 with All new electrical, plumbing, and Spray foam insulation on all sides. LVP flooring throughout the house. Granite countertops in the kitchen with stainless steel appliances, includes gas stove, and a huge farm house sink! Laundry room located in the mud room and includes plenty of space for storage. All bathrooms include front lighted LED vanity mirrors. Master bath with double vanity & huge walk in tiled shower. Includes an additional room for a home office. Front screened porch offers plenty of privacy. Property sits on a quiet lot with 1 acre of land. Hurry before its gone!

23. 1994-03-11
    soldstatus $25,000

ⓘ 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: $4,099 · $342/mo
• Projected year-2 tax: $4,099 · $342/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,683
• − Mortgage interest: −$10,637
• − Property taxes: −$4,099
• − Insurance: −$950
• − Repairs & maintenance: −$1,815
• − Management: −$1,815
• − Depreciation: −$5,524
• Taxable loss: −$2,157
• Est. tax savings @ 24.0%: +$518
• After-tax cash flow: $1,438/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: Henry County
• NCES district ID: 1302820
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $62,594
• Composite: 26.13/100
• National rank: #7279
• State rank: #89 of 174 in GA

Livability — McDonough

• Score: 63/100
• State rank: #279
• US rank: #14962

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment B 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: 114,333
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 64,779
• Household income: $81,892
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 2591.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 249,041 people
• By 2030: 264,369 · +6.2%
• By 2040: 294,459 · +18.2%
• By 2050: 322,249 · +29.4%
• By 2075: 392,310 · +57.5%
• By 2100: 437,836 · +75.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 61% White 22% Two or more races 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Hispanic 1% Lithuanian 1% Slovak 1%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 5% French/Haitian/Cajun 1% Vietnamese 1%

Political lean MEDSL · Henry

• 2024 margin: Strong D (+29.7) · D 64.5% · R 34.9%
• 2008→2024 swing: +37.1pp toward D · 2008: -7.5pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+20.5 2016: D+4.3 2012: R+3.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.51%
• Current HPI: 210.679
• Rent YoY: ▼ -0.35%
• 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

+659.6% since first listed

10 events — show timeline

• 2026-05-11 Relisted — GAMLS
• 2026-04-14 Pending — GAMLS
• 2026-03-31 Relisted — GAMLS
• 2026-03-24 Listing Removed — GAMLS
• 2026-02-10 Listed $189,900 GAMLS
• 2022-02-16 Sold (Public Records) $220,000 Public Records
• 2022-02-14 Sold (MLS) $220,000 GAMLS
• 2022-01-31 Pending — GAMLS
• 2022-01-14 Listed $199,900 GAMLS
• 1994-03-11 Sold (Public Records) $25,000 Public Records

Property tax history

+18.9%/yr

Latest (2025): $4,099 · -3.1% YoY. Source: county tax records.