24 E Martin Luther King Jr Ave · Lakeland, GA 31635

$28,000

3 bd · 2.0 ba · 1,150 sqft · SingleFamily · 5 Days on market

Built 1960 Poor condition 0.34 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +1.5/5.0

Listing remarks

Charming 3-bedroom, 2-bath brick home located in the heart of Lakeland. This home offers approximately 1,150 square feet of living space and features a welcoming front porch, comfortable living area, and a spacious yard perfect for outdoor enjoyment. Conveniently located near downtown Lakeland with easy access to local shops, schools, and dining.

Key facts

• Spacious yard
• Front porch
• Living area

Tags

• FRONT PORCH
• LIVING AREA
• SPACIOUS YARD
• DOWNTOWN LAKELAND

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $28k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $627 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Cap rate 33.1% vs local median 4.7% in Lakeland — 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 60/100 on livability (#379 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: health & safety D, schools D-, amenities F.
• Lanier County (rural): math 33% / reading 38% proficiency, ranked #67 of 174 in GA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 67 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 35 units permitted in Lanier County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($194 loan paydown + $1k appreciation (4.4% local appreciation)).
• At projected returns (4.4% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $28,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1960 — 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 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?
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: 3.71% ✓
• Cap rate: 33.15%
• Cash-on-cash: 95.92%
• DSCR: 5.27
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $94,300
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 E Darsey Ave	0.32mi	4/2.0 (+1)	1,224 (+6%)	5mo	$100,785	$82	66
73 E Mlk Jr Ave	0.26mi	4/2.0 (+1)	1,317 (+14%)	1mo	$90,000	$68	58
49 E Bostick St	0.53mi	3/2.0	1,200 (+4%)	19mo	$67,000	$56	52
23 E Bostick Ave	0.52mi	3/1.0	1,053 (-8%)	12mo	$163,000	$155	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.80×
• Total profit: $45,467
• Equity at exit: $14,894

10-year hold

• IRR: 99.8%
• Equity multiple: 14.19×
• Total profit: $103,437
• Equity at exit: $24,934

Cash invested: $7,840 (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 31635

• Home prices YoY: 2.2%
• Active inventory: 67
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,038 medium
• Mortgage (P&I): −$147
• Tax est. 1.5%: −$35 /mo · $420/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $627

Break-even live

Break-even rent $245

Max offer price $28,000

Occupancy floor 35%

Sensitivity live

Price	-10% $646	-5% $636	+0% $627	+5% $617	+10% $607
Rent	-10% $545	-5% $586	+0% $627	+5% $668	+10% $709
Rate	-1.0pp $641	-0.5pp $634	base $627	+0.5pp $619	+1.0pp $612

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: $7,000
• Closing costs: $840
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 E Howell Dr Lakeland, GA	3.0	2.0	1320	$1,100	$0.83	21d	1	1.04mi
149 W Main St Unit 149-E MAIN-1 Lakeland, GA	2.0	2.5	1156	$980	$0.85	21d	1	1.12mi

Listing history 2 events

1. 2026-03-18
   status Pending
2. 2026-03-13
   listed $28,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 7/10 Severe 16 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,458
• − Mortgage interest: −$1,568
• − Property taxes: −$420
• − Insurance: −$140
• − Repairs & maintenance: −$997
• − Management: −$997
• − Depreciation: −$815
• Taxable income: $7,522
• Est. tax owed @ 24.0%: −$1,805
• After-tax cash flow: $5,715/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.

Condition & rehab AI · 13 photos

Poor 30/100 Extensive rehab

This home requires extensive repairs and maintenance, including a new roof, exterior painting, and landscaping. Upgrades in these areas will significantly increase its resale and rental value.

Repairs flagged

• Major Roof — Shingles are visibly damaged and missing, requiring replacement.
• Major Exterior Siding — Brick siding is worn and discolored, indicating extensive repair or replacement is needed.
• Major Flooring — Hardwood floors are worn and scratched, requiring refinishing or replacement.
• Major Interior Walls — Paint is peeling and walls show signs of water damage, requiring repainting and possibly repairs.
• Major Bathrooms — Tiles are stained and grout is discolored, indicating a thorough cleaning and potential tile replacement.
• Major Landscaping — Landscaping is overgrown and unkempt, requiring trimming and replanting.

Value-add opportunities

• Resale New roof — A new roof will significantly improve the home's curb appeal and perceived value.
• Resale Exterior painting — Fresh paint will enhance the home's appearance and make it more attractive to potential buyers.
• Both Landscaping — A well-maintained yard will improve curb appeal and attract more renters.
• Rental HVAC system upgrade — A new HVAC system will improve comfort and energy efficiency, making the home more attractive to renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Roof · Shingles are visibly damaged and missing, requiring replacement.	Major	$15,000–50,000
Exterior Siding · Brick siding is worn and discolored, indicating extensive repair or replacement is needed.	Major	$15,000–50,000
Flooring · Hardwood floors are worn and scratched, requiring refinishing or replacement.	Major	$15,000–50,000
Interior Walls · Paint is peeling and walls show signs of water damage, requiring repainting and possibly repairs.	Major	$15,000–50,000
Bathrooms · Tiles are stained and grout is discolored, indicating a thorough cleaning and potential tile replacement.	Major	$15,000–50,000
Landscaping · Landscaping is overgrown and unkempt, requiring trimming and replanting.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale New roof — A new roof will significantly improve the home's curb appeal and perceived value. ↑
• Resale Exterior painting — Fresh paint will enhance the home's appearance and make it more attractive to potential buyers. ↑
• Both Landscaping — A well-maintained yard will improve curb appeal and attract more renters. ↑
• Rental HVAC system upgrade — A new HVAC system will improve comfort and energy efficiency, making the home more attractive to renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lanier County
• NCES district ID: 1303240
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $38,019
• Composite: 29.6/100
• National rank: #6476
• State rank: #67 of 174 in GA

Livability — Lakeland

• Score: 60/100
• State rank: #379
• US rank: #19151

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeland, GA
• Population (ZIP): 6,978

Population outlook (Lanier County) Hauer SSP2

• Today (2025): 10,743 people
• By 2030: 10,892 · +1.4%
• By 2040: 10,975 · +2.2%
• By 2050: 10,764 · +0.2%
• By 2075: 9,418 · -12.3%
• By 2100: 7,419 · -30.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 29% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Iranian 2% Italian 1% Romanian 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1% Korean 1%

Political lean MEDSL · Lanier

• 2024 margin: Solid R (+46.3) · D 26.6% · R 73.0%
• 2008→2024 swing: -21.1pp toward R · 2008: -25.2pp · 2024: -46.3pp
• All cycles: 2024: R+46.3 2020: R+41.7 2016: R+41.2 2012: R+23.8 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.42%
• Current HPI: 201.1664
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-03-18 Pending — SGMLS
• 2026-03-13 Listed $28,000 SGMLS