309 Martin Luther King Jr Dr · Eatonton, GA 31024

$89,900

3 bd · 1.0 ba · 1,475 sqft · SingleFamily public records · 104 Days on market

Built 1988 7,405 sqft lot $61/sqft · 49% below area Est $177k · 49% under ↓ 10% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks MLS

***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

Key facts

• 7,405 sq ft lot
• 2 parking spots
• Built 1988

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.4% 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).
• This rent runs 40% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 47% 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 $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 2.46% ✓
• Cap rate: 21.42%
• Cash-on-cash: 54.02%
• DSCR: 3.40
• GRM: 3.4

CMA / ARV

• ARV (median comp): $177,287
• List price: $89,900
• Delta: -49.29%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Martin Luther King Jr Dr	0.00mi	3/2.0	1,475 (0%)	1mo	$75,000	$51	95
289 Martin Luther King Jr. Dr	0.18mi	3/1.0	1,275 (-14%)	17mo	$160,500	$126	55
113 Martin Luther King Jr Dr	0.71mi	3/3.0	1,638 (+11%)	12mo	$247,000	$151	30
111 Larry Dr	0.69mi	3/2.0	1,632 (+11%)	24mo	$173,000	$106	26

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.2%
• Equity multiple: 3.29×
• Total profit: $57,633
• Equity at exit: $13,404

10-year hold

• IRR: 57.5%
• Equity multiple: 6.69×
• Total profit: $143,229
• Equity at exit: $7,773

Cash invested: $25,172 (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 31024

• Active inventory: 524
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,208 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$102 /mo · $1,223/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $1,133

Break-even live

Break-even rent $773

Max offer price $89,900

Occupancy floor 44%

Sensitivity live

Price	-10% $1,184	-5% $1,159	+0% $1,133	+5% $1,108	+10% $1,082
Rent	-10% $959	-5% $1,046	+0% $1,133	+5% $1,220	+10% $1,308
Rate	-1.0pp $1,178	-0.5pp $1,156	base $1,133	+0.5pp $1,110	+1.0pp $1,086

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-05-18
   status Pending 140-char remark

   Show marketing remark (140 chars)

   ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

2. 2026-05-18
   status Under Contract 140-char remark

   Show marketing remark (140 chars)

   ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

3. 2026-05-14
   historical Active Under Contract 140-char remark

   Show marketing remark (140 chars)

   ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

4. 2026-05-14
   historical Active Under Contract 140-char remark

   Show marketing remark (140 chars)

   ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

5. 2026-03-26
   price $89,900 140-char remark

   Show marketing remark (140 chars)

   ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

6. 2026-03-26
   price $89,900 140-char remark

   Show marketing remark (140 chars)

   ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

7. 2026-02-21
   status Back On Market 140-char remark

   Show marketing remark (140 chars)

   ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

8. 2026-02-09
   status Under Contract 140-char remark

   Show marketing remark (140 chars)

   ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

9. 2026-02-08
   status Back On Market 140-char remark

   Show marketing remark (140 chars)

   ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

10. 2026-02-06
    status Active 140-char remark

    Show marketing remark (140 chars)

    ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

11. 2025-12-18
    status Under Contract 140-char remark

    Show marketing remark (140 chars)

    ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

12. 2025-12-11
    status Pending 140-char remark

    Show marketing remark (140 chars)

    ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

13. 2025-12-11
    status Active 140-char remark

    Show marketing remark (140 chars)

    ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

14. 2025-12-05
    listed $99,900 Active 140-char remark

    Show marketing remark (140 chars)

    ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

15. 2025-12-05
    listed $99,900 New 140-char remark

    Show marketing remark (140 chars)

    ***Perfect Investment Property in Eatonton*** Sold as-is. Seller has never occupied the property (limited seller's disclosure available).

ⓘ 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: $1,223 · $102/mo
• Projected year-2 tax: $1,223 · $102/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 ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 47% 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: $26,492
• − Mortgage interest: −$5,036
• − Property taxes: −$1,223
• − Insurance: −$450
• − Repairs & maintenance: −$2,119
• − Management: −$2,119
• − Depreciation: −$2,615
• Taxable income: $12,929
• Est. tax owed @ 24.0%: −$3,103
• After-tax cash flow: $10,495/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

• Census place: Eatonton, GA
• 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

-10.0% since first listed

15 events — show timeline

• 2026-05-18 Pending — FMLS
• 2026-05-18 Pending — GAMLS
• 2026-05-14 Contingent — GAMLS
• 2026-05-14 Contingent — FMLS
• 2026-03-26 Price Changed $89,900 GAMLS
• 2026-03-26 Price Changed $89,900 FMLS
• 2026-02-21 Relisted — GAMLS
• 2026-02-09 Pending — GAMLS
• 2026-02-08 Relisted — GAMLS
• 2026-02-06 Relisted — FMLS
• 2025-12-18 Pending — GAMLS
• 2025-12-11 Pending — FMLS
• 2025-12-11 Relisted — FMLS
• 2025-12-05 Listed $99,900 GAMLS
• 2025-12-05 Listed $99,900 FMLS

Property tax history

+2.2%/yr

Latest (2025): $1,223 · +4.7% YoY. Source: county tax records.