5143 Pinecrest Dr · Covington, GA 30014

$149,000

2 bd · 1.0 ba · 1,015 sqft · SingleFamily public records · 72 Days on market

Built 1959 10,454 sqft lot $147/sqft · 16% below area Est $177k · 16% under

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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 +21.8/30.0
• ARV discount +14.6/15.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this inviting 2 bedroom, 1 bathroom ranch home nestled on a wooded lot in Eastside High School District. This home offers a welcoming curb appeal with a long driveway, covered parking, and mature trees providing shade and privacy. Inside, you’ll find neutral paint tones and a functional layout designed for comfortable everyday living. The spacious living room features abundant natural light and flows into a dedicated dining area, perfect for gatherings. The kitchen is equipped with granite countertops, ample cabinetry, and updated appliances, offering both style and functionality. A separate laundry room adds convenience and additional storage space. The primary bedroom includes easy access to a full bathroom, while the additional bedrooms are generously sized and versatile for guests, home office, or flex space. Step outside to enjoy a large backyard with patio space, ideal for entertaining, relaxing, or creating your own outdoor retreat. The wooded surroundings provide a peaceful setting while still being conveniently located. Located just minutes from shopping and dining in Downtown Covington, outdoor recreation at Charlie Elliott Wildlife Center, and easy access to I-20 for commuting to Atlanta.

Key facts

• 0.24 acre lot
• Built 1959
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $140k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.8% in Covington — 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 59/100 on livability (#396 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety B+; Watch: schools F, crime F, amenities F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 486 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,480 units permitted in Newton County in 2024 (702 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 $4k of value loss. Plan a longer hold.
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $11k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $149k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — 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 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?
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: 1.08% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.70%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

• ARV (median comp): $176,692
• List price: $149,000
• Delta: -15.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3148 Rebecca St SW	0.27mi	2/1.0	960 (-5%)	2mo	$215,500	$224	77
6154 Green Acres Dr SW	0.19mi	3/1.0 (+1)	1,040 (+2%)	6mo	$75,000	$72	77
6286 Green Acres Dr SW	0.28mi	3/1.0 (+1)	1,056 (+4%)	0mo	$90,000	$85	75
6175 Petty St SW	0.33mi	2/1.0	966 (-5%)	3mo	$130,000	$135	74
6186 Green Acres Dr SW	0.17mi	3/1.0 (+1)	1,080 (+6%)	4mo	$75,000	$69	73
6109 Oakwood Cir SW	0.22mi	3/1.0 (+1)	1,056 (+4%)	8mo	$82,000	$78	72
7120 Chaney Dr SW	0.49mi	3/2.0 (+1)	1,000 (-2%)	4mo	$130,000	$130	62
6263 Green Acres Dr SW	0.27mi	3/1.0 (+1)	1,083 (+7%)	13mo	$195,000	$180	60
7127 Greenway Cv SW	0.45mi	3/2.0 (+1)	1,065 (+5%)	6mo	$165,000	$155	57
7112 Greenway Cv SW	0.42mi	3/2.0 (+1)	1,065 (+5%)	8mo	$182,500	$171	57
8118 SW Collier St SW	0.60mi	3/1.0 (+1)	960 (-5%)	12mo	$147,000	$153	48
8205 Kirk St SW	0.71mi	3/1.0 (+1)	1,134 (+12%)	13mo	$224,900	$198	31

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 · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.68×
• Total profit: $-13,191
• Equity at exit: $22,216

10-year hold

• IRR: -3.0%
• Equity multiple: 0.82×
• Total profit: $-7,520
• Equity at exit: $12,883

Cash invested: $41,720 (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 30014

• Home prices YoY: -19.2%
• Rents YoY: 0.5%
• Active inventory: 486
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,602 high
• Mortgage (P&I): −$781
• Tax from tax record: −$190 /mo · $2,274/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $233

Break-even live

Break-even rent $1,308

Max offer price $149,000

Occupancy floor 80%

Sensitivity live

Price	-10% $317	-5% $275	+0% $233	+5% $191	+10% $148
Rent	-10% $106	-5% $170	+0% $233	+5% $296	+10% $359
Rate	-1.0pp $308	-0.5pp $271	base $233	+0.5pp $194	+1.0pp $155

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4152 Monticello St SW Covington, GA	1.0	1.0	1000	$635	$0.64	0d	1	0.12mi
6154 Green Acres Dr SW Covington, GA	3.0	1.0	1040	$1,900	$1.83	25d	1	0.17mi
6103 Oakwood Cir SW Covington, GA	3.0	2.0	1372	$900	$0.66	18d	1	0.17mi
6100 Greenleaf Ct SW Covington, GA	3.0	1.0	1000	$1,400	$1.40	18d	1	0.21mi
7189 Puckett St SW Covington, GA	1.0	1.0	950	$875	$0.92	25d	1	0.49mi
8246 Collier St SW Covington, GA	3.0	1.0	1225	$1,300	$1.06	45d	1	0.60mi
3233 West St Covington, GA	2.0	1.0	833	$1,195	$1.43	45d	1	0.73mi
9123 Jefferson Village Dr SW Covington, GA	3.0	2.0	1220	$1,750	$1.43	23d	1	0.80mi
8000 Revolution WAY Covington, GA	2.0	2.0	1170	$1,692	$1.45	0d	15	0.81mi
9135 Jefferson Village Dr SW Covington, GA	3.0	2.5	1126	$1,736	$1.54	6d	1	0.82mi
5132 Avery St SW Unit A (APT 101) Covington, GA	2.0	2.0	900	$1,600	$1.78	6d	1	0.95mi
10154 Allen Dr SW Covington, GA	3.0	2.0	1056	$1,800	$1.70	22d	1	1.12mi
10154 Allen Dr SW Covington, GA	3.0	2.0	1056	$1,800	$1.70	6d	1	1.12mi
8189 Spillers Dr SW Covington, GA	2.0	2.5	1080	$1,395	$1.29	6d	1	1.31mi

Listing history 23 events

1. 2026-06-21
   days on market $149,000 Active 72 DOM
2. 2026-06-18
   days on market $149,000 Active 69 DOM
3. 2026-06-17
   days on market $149,000 Active 68 DOM
4. 2026-06-16
   days on market $149,000 Active 67 DOM
5. 2026-06-15
   days on market $149,000 Active 66 DOM
6. 2026-06-13
   days on market $149,000 Active 64 DOM
7. 2026-06-13
   days on market $149,000 Active 63 DOM
8. 2026-06-09
   days on market $149,000 Active 60 DOM
9. 2026-06-08
   days on market $149,000 Active 59 DOM
10. 2026-06-07
    days on market $149,000 Active 58 DOM
11. 2026-06-04
    days on market $149,000 Active 55 DOM
12. 2026-06-03
    days on market $149,000 Active 54 DOM
13. 2026-06-02
    days on market $149,000 Active 53 DOM
14. 2026-06-01
    days on market $149,000 Active 52 DOM
15. 2026-05-31
    days on market $149,000 Active 51 DOM
16. 2026-05-07
    status Active 1240-char remark

    Show marketing remark (1240 chars)

    Welcome to this inviting 2 bedroom, 1 bathroom ranch home nestled on a wooded lot in Eastside High School District. This home offers a welcoming curb appeal with a long driveway, covered parking, and mature trees providing shade and privacy. Inside, you’ll find neutral paint tones and a functional layout designed for comfortable everyday living. The spacious living room features abundant natural light and flows into a dedicated dining area, perfect for gatherings. The kitchen is equipped with granite countertops, ample cabinetry, and updated appliances, offering both style and functionality. A separate laundry room adds convenience and additional storage space. The primary bedroom includes easy access to a full bathroom, while the additional bedrooms are generously sized and versatile for guests, home office, or flex space. Step outside to enjoy a large backyard with patio space, ideal for entertaining, relaxing, or creating your own outdoor retreat. The wooded surroundings provide a peaceful setting while still being conveniently located. Located just minutes from shopping and dining in Downtown Covington, outdoor recreation at Charlie Elliott Wildlife Center, and easy access to I-20 for commuting to Atlanta.

17. 2026-05-07
    price $149,000 1240-char remark

    Show marketing remark (1240 chars)

    Welcome to this inviting 2 bedroom, 1 bathroom ranch home nestled on a wooded lot in Eastside High School District. This home offers a welcoming curb appeal with a long driveway, covered parking, and mature trees providing shade and privacy. Inside, you’ll find neutral paint tones and a functional layout designed for comfortable everyday living. The spacious living room features abundant natural light and flows into a dedicated dining area, perfect for gatherings. The kitchen is equipped with granite countertops, ample cabinetry, and updated appliances, offering both style and functionality. A separate laundry room adds convenience and additional storage space. The primary bedroom includes easy access to a full bathroom, while the additional bedrooms are generously sized and versatile for guests, home office, or flex space. Step outside to enjoy a large backyard with patio space, ideal for entertaining, relaxing, or creating your own outdoor retreat. The wooded surroundings provide a peaceful setting while still being conveniently located. Located just minutes from shopping and dining in Downtown Covington, outdoor recreation at Charlie Elliott Wildlife Center, and easy access to I-20 for commuting to Atlanta.

18. 2026-05-04
    historical 1240-char remark

    Show marketing remark (1240 chars)

    Welcome to this inviting 2 bedroom, 1 bathroom ranch home nestled on a wooded lot in Eastside High School District. This home offers a welcoming curb appeal with a long driveway, covered parking, and mature trees providing shade and privacy. Inside, you’ll find neutral paint tones and a functional layout designed for comfortable everyday living. The spacious living room features abundant natural light and flows into a dedicated dining area, perfect for gatherings. The kitchen is equipped with granite countertops, ample cabinetry, and updated appliances, offering both style and functionality. A separate laundry room adds convenience and additional storage space. The primary bedroom includes easy access to a full bathroom, while the additional bedrooms are generously sized and versatile for guests, home office, or flex space. Step outside to enjoy a large backyard with patio space, ideal for entertaining, relaxing, or creating your own outdoor retreat. The wooded surroundings provide a peaceful setting while still being conveniently located. Located just minutes from shopping and dining in Downtown Covington, outdoor recreation at Charlie Elliott Wildlife Center, and easy access to I-20 for commuting to Atlanta.

19. 2026-04-07
    listed $160,000 Active 1240-char remark

    Show marketing remark (1240 chars)

    Welcome to this inviting 2 bedroom, 1 bathroom ranch home nestled on a wooded lot in Eastside High School District. This home offers a welcoming curb appeal with a long driveway, covered parking, and mature trees providing shade and privacy. Inside, you’ll find neutral paint tones and a functional layout designed for comfortable everyday living. The spacious living room features abundant natural light and flows into a dedicated dining area, perfect for gatherings. The kitchen is equipped with granite countertops, ample cabinetry, and updated appliances, offering both style and functionality. A separate laundry room adds convenience and additional storage space. The primary bedroom includes easy access to a full bathroom, while the additional bedrooms are generously sized and versatile for guests, home office, or flex space. Step outside to enjoy a large backyard with patio space, ideal for entertaining, relaxing, or creating your own outdoor retreat. The wooded surroundings provide a peaceful setting while still being conveniently located. Located just minutes from shopping and dining in Downtown Covington, outdoor recreation at Charlie Elliott Wildlife Center, and easy access to I-20 for commuting to Atlanta.

20. 2026-04-07
    historical $160,000 1240-char remark

    Show marketing remark (1240 chars)

    Welcome to this inviting 2 bedroom, 1 bathroom ranch home nestled on a wooded lot in Eastside High School District. This home offers a welcoming curb appeal with a long driveway, covered parking, and mature trees providing shade and privacy. Inside, you’ll find neutral paint tones and a functional layout designed for comfortable everyday living. The spacious living room features abundant natural light and flows into a dedicated dining area, perfect for gatherings. The kitchen is equipped with granite countertops, ample cabinetry, and updated appliances, offering both style and functionality. A separate laundry room adds convenience and additional storage space. The primary bedroom includes easy access to a full bathroom, while the additional bedrooms are generously sized and versatile for guests, home office, or flex space. Step outside to enjoy a large backyard with patio space, ideal for entertaining, relaxing, or creating your own outdoor retreat. The wooded surroundings provide a peaceful setting while still being conveniently located. Located just minutes from shopping and dining in Downtown Covington, outdoor recreation at Charlie Elliott Wildlife Center, and easy access to I-20 for commuting to Atlanta.

21. 2025-10-03
    historical $1,195
22. 2025-09-26
    listed $1,195
23. 2002-04-25
    soldstatus $65,000

ⓘ 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: $2,274 · $190/mo
• Projected year-2 tax: $2,274 · $190/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,228
• − Mortgage interest: −$8,346
• − Property taxes: −$2,274
• − Insurance: −$745
• − Repairs & maintenance: −$1,538
• − Management: −$1,538
• − Depreciation: −$4,335
• Taxable income: $451
• Est. tax owed @ 24.0%: −$108
• After-tax cash flow: $2,686/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: Newton County
• NCES district ID: 1303930
• Math proficiency: 17% ▼ -13.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $50,768
• Composite: 19.2/100
• National rank: #8816
• State rank: #137 of 174 in GA

Livability — Covington

• Score: 59/100
• State rank: #396
• US rank: #19602

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Covington, GA
• County: Newton County · 104,393 people
• City population: 104,393
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 41,425
• Household income: $72,254
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1934.0

Population outlook (Newton County) Hauer SSP2

• Today (2025): 118,372 people
• By 2030: 124,234 · +5.0%
• By 2040: 135,550 · +14.5%
• By 2050: 145,309 · +22.8%
• By 2075: 166,843 · +40.9%
• By 2100: 175,800 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 53% Black 35% Hispanic / Latino 7% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 7% · Canada
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Newton

• 2024 margin: D (+15.1) · D 57.3% · R 42.2%
• 2008→2024 swing: +14.0pp toward D · 2008: 1.2pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+10.9 2016: D+2.4 2012: D+2.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.50%
• Current HPI: 270.9868
• Rent YoY: ▲ 0.52%
• 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

+129.2% since first listed

8 events — show timeline

• 2026-05-07 Relisted — FMLS
• 2026-05-07 Price Changed $149,000 FMLS
• 2026-05-04 Listing Removed — FMLS
• 2026-04-07 Listed $160,000 FMLS
• 2026-04-07 Coming Soon $160,000 FMLS
• 2025-10-03 Rental Removed $1,195 GAMLS
• 2025-09-26 Listed for Rent $1,195 GAMLS
• 2002-04-25 Sold (Public Records) $65,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,274 · +42.0% YoY. Source: county tax records.