119 E Merrill St · Thomasville, GA 31792

$139,900

2 bd · 1.0 ba · 754 sqft · SingleFamily public records · 154 Days on market

Built 1942 5,227 sqft lot $186/sqft · 36% above area Est $103k · 36% over

---

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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +6.7/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

You have to see this CUTE, NEWLY REMODELED HOME near Downtown Thomasville! Beautiful flooring throughout! Wonderful BRAND NEW appliances and fixtures! Big windows for lots of natural light and open living space. Check out the great backyard as well. Owner will consider lease purchase. Call your favorite agent TODAY for a closer look!

Key facts

• Big windows
• Brand new appliances
• Great backyard

Tags

• BRAND NEW APPLIANCES
• BIG WINDOWS
• GREAT BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.7% in Thomasville — 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 (#77 in GA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: schools D, crime F, commute F.
• Thomasville City (town): math 29% / reading 37% proficiency, ranked #87 of 174 in GA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 203 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 213 units permitted in Thomas County in 2024 (72 in 5+ unit buildings).
• This rent runs 39% of the median local income ($50k/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 $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Thomas County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $12k; list at $140k implies a 1019% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — 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 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?
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: 1.17% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.66%
• DSCR: 1.65
• GRM: 7.1

CMA / ARV

• ARV (median comp): $102,696
• List price: $139,900
• Delta: 36.23%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
145 Barnes St	0.49mi	2/1.0	750 (-0%)	0mo	$144,900	$193	76
335 E Washington St	0.69mi	2/1.0	748 (-1%)	4mo	$120,000	$160	63
104 Dixon St	0.40mi	2/1.0	848 (+12%)	5mo	$134,000	$158	56

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: 5.1%
• Equity multiple: 1.20×
• Total profit: $7,747
• Equity at exit: $20,860

10-year hold

• IRR: 14.5%
• Equity multiple: 2.17×
• Total profit: $45,725
• Equity at exit: $12,096

Cash invested: $39,172 (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 31792

• Home prices YoY: -29.0%
• Active inventory: 203
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,639 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$24 /mo · $292/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $479

Break-even live

Break-even rent $1,033

Max offer price $139,900

Occupancy floor 66%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
813 N Spair St Thomasville, GA	2.0	1.0	865	$1,500	$1.73	43d	1	0.52mi
403 Remington Ave Thomasville, GA	2.0	1.0	891	$1,575	$1.77	43d	1	1.06mi

Listing history 25 events

1. 2026-06-19
   days on market $139,900 Active 154 DOM
2. 2026-06-18
   days on market $139,900 Active 153 DOM
3. 2026-06-17
   days on market $139,900 Active 152 DOM
4. 2026-06-16
   days on market $139,900 Active 151 DOM
5. 2026-06-15
   days on market $139,900 Active 150 DOM
6. 2026-06-14
   days on market $139,900 Active 148 DOM
7. 2026-06-12
   days on market $139,900 Active 147 DOM
8. 2026-06-09
   days on market $139,900 Active 144 DOM
9. 2026-06-08
   days on market $139,900 Active 143 DOM
10. 2026-06-07
    days on market $139,900 Active 142 DOM
11. 2026-06-07
    days on market $139,900 Active 141 DOM
12. 2026-06-03
    days on market $139,900 Active 138 DOM
13. 2026-06-02
    days on market $139,900 Active 137 DOM
14. 2026-06-01
    days on market $139,900 Active 136 DOM
15. 2026-05-31
    days on market $139,900 Active 135 DOM
16. 2026-05-31
    days on market $139,900 Active 134 DOM
17. 2026-04-13
    price $139,900 335-char remark

    Show marketing remark (335 chars)

    You have to see this CUTE, NEWLY REMODELED HOME near Downtown Thomasville! Beautiful flooring throughout! Wonderful BRAND NEW appliances and fixtures! Big windows for lots of natural light and open living space. Check out the great backyard as well. Owner will consider lease purchase. Call your favorite agent TODAY for a closer look!

18. 2026-01-16
    listed $145,000 Active 335-char remark

    Show marketing remark (335 chars)

    You have to see this CUTE, NEWLY REMODELED HOME near Downtown Thomasville! Beautiful flooring throughout! Wonderful BRAND NEW appliances and fixtures! Big windows for lots of natural light and open living space. Check out the great backyard as well. Owner will consider lease purchase. Call your favorite agent TODAY for a closer look!

19. 2025-03-11
    price $145,000
20. 2024-01-24
    soldstatus $12,500 Closed
21. 2024-01-23
    status Pending
22. 2024-01-10
    status Active
23. 2024-01-06
    status Pending
24. 2023-12-18
    listed $25,000 Active
25. 2005-06-01
    soldstatus $30,000

ⓘ 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: $292 · $24/mo
• Projected year-2 tax: $1,287 · $107/mo
• Expected delta: +$995/yr (+$83/mo · 340.4%)

ⓘ 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 8/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,670
• − Mortgage interest: −$7,837
• − Property taxes: −$292
• − Insurance: −$700
• − Repairs & maintenance: −$1,574
• − Management: −$1,574
• − Depreciation: −$4,070
• Taxable income: $3,625
• Est. tax owed @ 24.0%: −$870
• After-tax cash flow: $4,874/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: Thomasville City
• NCES district ID: 1304950
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 37% ▼ -8.00%
• Median HH income: $31,040
• Composite: 26.85/100
• National rank: #7106
• State rank: #87 of 174 in GA

Livability — Thomasville

• Score: 71/100
• State rank: #77
• US rank: #6678

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomasville, GA
• County: Thomas County · 22,962 people
• City population: 22,962
• Metro: Thomasville, GA
• Population (ZIP): 22,962
• Household income: $50,460
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 1059.0

Population outlook (Thomas County) Hauer SSP2

• Today (2025): 45,303 people
• By 2030: 45,052 · -0.6%
• By 2040: 44,034 · -2.8%
• By 2050: 42,310 · -6.6%
• By 2075: 37,569 · -17.1%
• By 2100: 30,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: Black 49% White 47% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Thomas

• 2024 margin: Strong R (+24.1) · D 37.8% · R 61.9%
• 2008→2024 swing: -8.3pp toward R · 2008: -15.8pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+19.5 2016: R+21.8 2012: R+18.5 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.17%
• Current HPI: 228.0107
• Rent YoY: —
• Metro: Thomasville, 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

+366.3% since first listed

9 events — show timeline

• 2026-04-13 Price Changed $139,900 TABRMLS
• 2026-01-16 Listed $145,000 TABRMLS
• 2025-03-11 Price Changed $145,000 SGMLS
• 2024-01-24 Sold (MLS) $12,500 TABRMLS
• 2024-01-23 Pending — TABRMLS
• 2024-01-10 Relisted — TABRMLS
• 2024-01-06 Pending — TABRMLS
• 2023-12-18 Listed $25,000 TABRMLS
• 2005-06-01 Sold (Public Records) $30,000 Public Records

Property tax history

+13.6%/yr

Latest (2025): $292 · +552.1% YoY. Source: county tax records.