124 W Hogan Rd · Eatonton, GA 31024

$229,000

3 bd · 1.5 ba · 1,088 sqft · SingleFamily public records · 120 Days on market

Built 2005 0.27 ac lot $210/sqft · 102% above area

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Why this score? — see what drove the D+ 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 +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +4.6/10.0
• 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

This charming 3-bedroom, 1.5-bath home offers a comfortable living space with a functional layout. Whether you are a first-time buyer looking for an affordable place to call home - or an investor seeking strong rental potential, this property will check your boxes! Manageable size means lower maintenance and utility costs, making homeownership more affordable! Stop renting and start building equity today - and don't miss your chance to own at an attractive price point!

Key facts

• 0.27 acre lot
• Garage
• Built 2005

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/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 $221k (3.6% below list).
• Recommended offer: $208k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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 $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.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $175k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $208,390 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 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. 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?
6. 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.
7. 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.
8. 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: 0.96% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.25%
• DSCR: 1.23
• GRM: 8.6

CMA / ARV

• ARV (median comp): $113,537
• List price: $229,000
• Delta: 101.70%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.2%
• Equity multiple: 0.70×
• Total profit: $-19,288
• Equity at exit: $34,145

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $6,037
• Equity at exit: $19,800

Cash invested: $64,120 (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: 8.6×

Monthly cashflow live

• Estimated rent: $2,206 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$166 /mo · $1,996/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $280

Break-even live

Break-even rent $1,852

Max offer price $229,000

Occupancy floor 82%

Sensitivity live

Price	-10% $410	-5% $345	+0% $280	+5% $216	+10% $151
Rent	-10% $106	-5% $193	+0% $280	+5% $368	+10% $455
Rate	-1.0pp $396	-0.5pp $339	base $280	+0.5pp $221	+1.0pp $161

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $229,000 Active 120 DOM
2. 2026-06-19
   days on market $229,000 Active 118 DOM
3. 2026-06-18
   days on market $229,000 Active 117 DOM
4. 2026-06-17
   days on market $229,000 Active 116 DOM
5. 2026-06-16
   days on market $229,000 Active 115 DOM
6. 2026-06-15
   days on market $229,000 Active 114 DOM
7. 2026-06-14
   days on market $229,000 Active 112 DOM
8. 2026-06-12
   days on market $229,000 Active 111 DOM
9. 2026-06-09
   days on market $229,000 Active 108 DOM
10. 2026-06-08
    days on market $229,000 Active 107 DOM
11. 2026-06-07
    days on market $229,000 Active 106 DOM
12. 2026-06-05
    days on market $229,000 Active 103 DOM
13. 2026-06-03
    days on market $229,000 Active 102 DOM
14. 2026-06-02
    days on market $229,000 Active 101 DOM
15. 2026-06-01
    days on market $229,000 Active 100 DOM
16. 2026-05-31
    days on market $229,000 Active 99 DOM
17. 2026-05-30
    days on market $229,000 Active 98 DOM
18. 2026-04-07
    price $229,000 476-char remark

    Show marketing remark (476 chars)

    This charming 3-bedroom, 1.5-bath home offers a comfortable living space with a functional layout. Whether you are a first-time buyer looking for an affordable place to call home - or an investor seeking strong rental potential, this property will check your boxes! Manageable size means lower maintenance and utility costs, making homeownership more affordable! Stop renting and start building equity today - and don't miss your chance to own at an attractive price point!

19. 2026-03-26
    status Back On Market 476-char remark

    Show marketing remark (476 chars)

    This charming 3-bedroom, 1.5-bath home offers a comfortable living space with a functional layout. Whether you are a first-time buyer looking for an affordable place to call home - or an investor seeking strong rental potential, this property will check your boxes! Manageable size means lower maintenance and utility costs, making homeownership more affordable! Stop renting and start building equity today - and don't miss your chance to own at an attractive price point!

20. 2026-03-24
    status Under Contract 476-char remark

    Show marketing remark (476 chars)

    This charming 3-bedroom, 1.5-bath home offers a comfortable living space with a functional layout. Whether you are a first-time buyer looking for an affordable place to call home - or an investor seeking strong rental potential, this property will check your boxes! Manageable size means lower maintenance and utility costs, making homeownership more affordable! Stop renting and start building equity today - and don't miss your chance to own at an attractive price point!

21. 2026-02-19
    listed $239,000 New 476-char remark

    Show marketing remark (476 chars)

    This charming 3-bedroom, 1.5-bath home offers a comfortable living space with a functional layout. Whether you are a first-time buyer looking for an affordable place to call home - or an investor seeking strong rental potential, this property will check your boxes! Manageable size means lower maintenance and utility costs, making homeownership more affordable! Stop renting and start building equity today - and don't miss your chance to own at an attractive price point!

22. 2024-08-23
    soldstatus $175,000
23. 2024-08-22
    soldstatus $175,000 Sold 411-char remark

    Show marketing remark (411 chars)

    Great investment property! This home features an open floor plan with 3 bedrooms, a full bath, and 1 half bath. Large open concept kitchen that opens up to the living room, high ceilings, attached car garage, front porch. A fenced backyard and adjacent lot with total acreage of 0.44 overall! Great for entertaining and or a play area. The bones of this house would make a great starter home or investment home.

24. 2024-08-22
    soldstatus $175,000 Closed

    Show marketing remark (411 chars)

    Great investment property! This home features an open floor plan with 3 bedrooms, a full bath, and 1 half bath. Large open concept kitchen that opens up to the living room, high ceilings, attached car garage, front porch. A fenced backyard and adjacent lot with total acreage of 0.44 overall! Great for entertaining and or a play area. The bones of this house would make a great starter home or investment home.

25. 2024-08-13
    status Under Contract 411-char remark

    Show marketing remark (411 chars)

    Great investment property! This home features an open floor plan with 3 bedrooms, a full bath, and 1 half bath. Large open concept kitchen that opens up to the living room, high ceilings, attached car garage, front porch. A fenced backyard and adjacent lot with total acreage of 0.44 overall! Great for entertaining and or a play area. The bones of this house would make a great starter home or investment home.

26. 2024-08-13
    status Pending

    Show marketing remark (411 chars)

    Great investment property! This home features an open floor plan with 3 bedrooms, a full bath, and 1 half bath. Large open concept kitchen that opens up to the living room, high ceilings, attached car garage, front porch. A fenced backyard and adjacent lot with total acreage of 0.44 overall! Great for entertaining and or a play area. The bones of this house would make a great starter home or investment home.

27. 2024-08-08
    historical Active Under Contract 411-char remark

    Show marketing remark (411 chars)

    Great investment property! This home features an open floor plan with 3 bedrooms, a full bath, and 1 half bath. Large open concept kitchen that opens up to the living room, high ceilings, attached car garage, front porch. A fenced backyard and adjacent lot with total acreage of 0.44 overall! Great for entertaining and or a play area. The bones of this house would make a great starter home or investment home.

28. 2024-08-02
    listed $175,000 Active

    Show marketing remark (411 chars)

    Great investment property! This home features an open floor plan with 3 bedrooms, a full bath, and 1 half bath. Large open concept kitchen that opens up to the living room, high ceilings, attached car garage, front porch. A fenced backyard and adjacent lot with total acreage of 0.44 overall! Great for entertaining and or a play area. The bones of this house would make a great starter home or investment home.

29. 2024-08-02
    price $175,000 411-char remark

    Show marketing remark (411 chars)

    Great investment property! This home features an open floor plan with 3 bedrooms, a full bath, and 1 half bath. Large open concept kitchen that opens up to the living room, high ceilings, attached car garage, front porch. A fenced backyard and adjacent lot with total acreage of 0.44 overall! Great for entertaining and or a play area. The bones of this house would make a great starter home or investment home.

30. 2024-08-02
    status Back On Market 411-char remark

    Show marketing remark (411 chars)

    Great investment property! This home features an open floor plan with 3 bedrooms, a full bath, and 1 half bath. Large open concept kitchen that opens up to the living room, high ceilings, attached car garage, front porch. A fenced backyard and adjacent lot with total acreage of 0.44 overall! Great for entertaining and or a play area. The bones of this house would make a great starter home or investment home.

31. 2024-07-17
    historical Active Under Contract 411-char remark

    Show marketing remark (411 chars)

    Great investment property! This home features an open floor plan with 3 bedrooms, a full bath, and 1 half bath. Large open concept kitchen that opens up to the living room, high ceilings, attached car garage, front porch. A fenced backyard and adjacent lot with total acreage of 0.44 overall! Great for entertaining and or a play area. The bones of this house would make a great starter home or investment home.

32. 2024-07-13
    status Under Contract 411-char remark

    Show marketing remark (411 chars)

    Great investment property! This home features an open floor plan with 3 bedrooms, a full bath, and 1 half bath. Large open concept kitchen that opens up to the living room, high ceilings, attached car garage, front porch. A fenced backyard and adjacent lot with total acreage of 0.44 overall! Great for entertaining and or a play area. The bones of this house would make a great starter home or investment home.

33. 2024-07-08
    listed $170,000 New 411-char remark

    Show marketing remark (411 chars)

    Great investment property! This home features an open floor plan with 3 bedrooms, a full bath, and 1 half bath. Large open concept kitchen that opens up to the living room, high ceilings, attached car garage, front porch. A fenced backyard and adjacent lot with total acreage of 0.44 overall! Great for entertaining and or a play area. The bones of this house would make a great starter home or investment home.

ⓘ 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: $1,996 · $166/mo
• Projected year-2 tax: $2,107 · $176/mo
• Expected delta: +$110/yr (+$9/mo · 5.5%)

ⓘ 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 7/10 Severe 7 d/yr ≥107°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: $26,478
• − Mortgage interest: −$12,828
• − Property taxes: −$1,996
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,118
• − Management: −$2,118
• − Depreciation: −$6,662
• Taxable loss: −$390
• Est. tax savings @ 24.0%: +$94
• After-tax cash flow: $3,459/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

+34.7% since first listed

16 events — show timeline

• 2026-04-07 Price Changed $229,000 GAMLS
• 2026-03-26 Relisted — GAMLS
• 2026-03-24 Pending — GAMLS
• 2026-02-19 Listed $239,000 GAMLS
• 2024-08-23 Sold (Public Records) $175,000 Public Records
• 2024-08-22 Sold (MLS) $175,000 LCBR
• 2024-08-22 Sold (MLS) $175,000 GAMLS
• 2024-08-13 Pending — GAMLS
• 2024-08-13 Pending — LCBR
• 2024-08-08 Contingent — GAMLS
• 2024-08-02 Listed $175,000 LCBR
• 2024-08-02 Price Changed $175,000 GAMLS
• 2024-08-02 Relisted — GAMLS
• 2024-07-17 Contingent — GAMLS
• 2024-07-13 Pending — GAMLS
• 2024-07-08 Listed $170,000 GAMLS

Property tax history

+7.2%/yr

Latest (2025): $1,996 · +44.3% YoY. Source: county tax records.