6130 Geiger St NW · Covington, GA 30014

$219,900

4 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 102 Days on market

Built 1998 0.29 ac lot $176/sqft · 6% below area Est $233k · 6% under

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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 +14.4/30.0
• ARV discount +10.0/15.0
• DSCR +4.4/10.0
• 1% rule +3.5/10.0
• 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

Covington traditional Home well renovated, new lighting, plumbing fixtures, fresh paint and Vinyl plank flooring, stainless steel appliances, granite and kitchen island, yard elaborate for creative ideas. 4/2 for a moderate family - Go Show. Close to everything in Covington.

Key facts

• New lighting
• Fresh paint
• Plumbing fixtures

Tags

• NEW LIGHTING
• PLUMBING FIXTURES
• FRESH PAINT
• VINYL PLANK FLOORING
• STAINLESS STEEL APPLIANCES
• GRANITE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $46 ($551/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 $186k (15.3% below list).
• Recommended offer: $186k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: crime F, amenities F, commute 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.
• Zoned schools: Newton County Theme School At Ficquett (math 49% / reading 65%, grade C+, #151 of 1,228 statewide, top 13%, 977 students, 29% FRL); Cousins Middle School (math 12% / reading 23%, grade F, #377 of 470 statewide, top 81%, 654 students, 85% FRL); Newton High School (math 8% / reading 12%, grade F, #365 of 424 statewide, top 88%, 2,472 students, 85% FRL).
• Market conditions: Rents flat; 486 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).
• This rent runs 31% of the median local income ($72k/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.
• 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 102 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $220k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $186,287 (15.3% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 15% 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. 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?
6. 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?
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: 0.85% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.89%
• DSCR: 1.04
• GRM: 9.8

CMA / ARV

• ARV (median comp): $232,976
• List price: $219,900
• Delta: -5.61%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6188 Geiger St NW	0.10mi	3/2.0 (-1)	1,238 (-1%)	1mo	$245,000	$198	88
5122 Hillcrest Dr NW	0.31mi	3/2.0 (-1)	1,306 (+5%)	13mo	$290,000	$222	62
5157 West St	0.17mi	3/2.0 (-1)	1,118 (-10%)	16mo	$165,000	$148	56
116 E Wade St	0.25mi	3/1.0 (-1)	1,128 (-10%)	12mo	$219,000	$194	53
9206 Carlton Trl NW	0.59mi	3/2.0 (-1)	1,286 (+3%)	14mo	$224,200	$174	51
4128 Gold St NW	0.52mi	3/2.0 (-1)	1,384 (+11%)	2mo	$230,000	$166	51
4194 West St	0.32mi	3/1.0 (-1)	1,175 (-6%)	22mo	$177,000	$151	48
319 Stone St	0.53mi	3/1.0 (-1)	1,143 (-8%)	8mo	$333,500	$292	45
405 Emory St	0.38mi	3/2.0 (-1)	1,432 (+15%)	13mo	$207,000	$145	42
10134 Carlton Trl NW	0.68mi	4/4.0	1,352 (+8%)	7mo	$331,400	$245	41

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: -17.5%
• Equity multiple: 0.39×
• Total profit: $-37,277
• Equity at exit: $32,788

10-year hold

• IRR: -14.8%
• Equity multiple: 0.24×
• Total profit: $-46,529
• Equity at exit: $19,013

Cash invested: $61,572 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,863 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$181 /mo · $2,172/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $46

Break-even live

Break-even rent $1,805

Max offer price $219,900

Occupancy floor 93%

Sensitivity live

Price	-10% $170	-5% $108	+0% $46	+5% $-16	+10% $-79
Rent	-10% $-101	-5% $-28	+0% $46	+5% $119	+10% $193
Rate	-1.0pp $157	-0.5pp $102	base $46	+0.5pp $-11	+1.0pp $-69

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6184 Geiger St NW Covington, GA	3.0	2.0	1310	$1,725	$1.32	45d	1	0.12mi
107 W Bonnell St Oxford, GA	3.0	1.0	1356	$1,650	$1.22	6d	1	0.33mi
8170 Geiger St NW Covington, GA	3.0	1.0	875	$1,150	$1.31	45d	1	0.54mi
7900 Kaplan LN Covington, GA	1.0–3.0	1.0–2.0	1048	$2,459	$2.35	0d	68	0.82mi
9235 Colony Dr NW Unit B Covington, GA	3.0	2.0	1294	$1,550	$1.20	0d	1	0.83mi
9235 Colony Dr NW Unit A Covington, GA	3.0	2.0	1294	$1,599	$1.24	45d	1	0.83mi
10266 Stone St NW Unit B Covington, GA	3.0	2.5	1384	$1,250	$0.90	3d	1	0.88mi
9285 Cedar Ridge Dr NW Covington, GA	3.0	2.0	1420	$1,495	$1.05	45d	1	0.89mi
9270 Scarlett Dr SW Covington, GA	3.0	2.0	1438	$1,795	$1.25	26d	1	1.35mi
9166 Tara Dr SW Covington, GA	3.0	2.0	1381	$1,650	$1.19	45d	1	1.39mi
10500 Callaway Dr Covington, GA	1.0–3.0	1.0–2.0	981	$2,627	$2.68	0d	66	1.44mi

Listing history 33 events

1. 2026-06-21
   days on market $219,900 Active 102 DOM
2. 2026-06-18
   days on market $219,900 Active 99 DOM
3. 2026-06-17
   days on market $219,900 Active 98 DOM
4. 2026-06-16
   days on market $219,900 Active 97 DOM
5. 2026-06-15
   days on market $219,900 Active 96 DOM
6. 2026-06-13
   days on market $219,900 Active 94 DOM
7. 2026-06-13
   days on market $219,900 Active 93 DOM
8. 2026-06-09
   days on market $219,900 Active 90 DOM
9. 2026-06-08
   days on market $219,900 Active 89 DOM
10. 2026-06-07
    days on market $219,900 Active 88 DOM
11. 2026-06-04
    days on market $219,900 Active 85 DOM
12. 2026-06-03
    days on market $219,900 Active 84 DOM
13. 2026-06-02
    days on market $219,900 Active 83 DOM
14. 2026-06-01
    days on market $219,900 Active 82 DOM
15. 2026-05-31
    days on market $219,900 Active 81 DOM
16. 2026-05-08
    status Under Contract 275-char remark

    Show marketing remark (275 chars)

    Covington traditional Home well renovated, new lighting, plumbing fixtures, fresh paint and Vinyl plank flooring, stainless steel appliances, granite and kitchen island, yard elaborate for creative ideas. 4/2 for a moderate family - Go Show. Close to everything in Covington.

17. 2026-03-24
    price $219,900 275-char remark

    Show marketing remark (275 chars)

    Covington traditional Home well renovated, new lighting, plumbing fixtures, fresh paint and Vinyl plank flooring, stainless steel appliances, granite and kitchen island, yard elaborate for creative ideas. 4/2 for a moderate family - Go Show. Close to everything in Covington.

18. 2026-03-24
    price $219,900 275-char remark

    Show marketing remark (275 chars)

    Covington traditional Home well renovated, new lighting, plumbing fixtures, fresh paint and Vinyl plank flooring, stainless steel appliances, granite and kitchen island, yard elaborate for creative ideas. 4/2 for a moderate family - Go Show. Close to everything in Covington.

19. 2026-03-16
    price $229,900 275-char remark

    Show marketing remark (275 chars)

    Covington traditional Home well renovated, new lighting, plumbing fixtures, fresh paint and Vinyl plank flooring, stainless steel appliances, granite and kitchen island, yard elaborate for creative ideas. 4/2 for a moderate family - Go Show. Close to everything in Covington.

20. 2026-03-16
    price $229,900 275-char remark

    Show marketing remark (275 chars)

    Covington traditional Home well renovated, new lighting, plumbing fixtures, fresh paint and Vinyl plank flooring, stainless steel appliances, granite and kitchen island, yard elaborate for creative ideas. 4/2 for a moderate family - Go Show. Close to everything in Covington.

21. 2026-03-11
    listed $239,900 New 275-char remark

    Show marketing remark (275 chars)

    Covington traditional Home well renovated, new lighting, plumbing fixtures, fresh paint and Vinyl plank flooring, stainless steel appliances, granite and kitchen island, yard elaborate for creative ideas. 4/2 for a moderate family - Go Show. Close to everything in Covington.

22. 2026-03-11
    listed $239,900 Active 275-char remark

    Show marketing remark (275 chars)

    Covington traditional Home well renovated, new lighting, plumbing fixtures, fresh paint and Vinyl plank flooring, stainless steel appliances, granite and kitchen island, yard elaborate for creative ideas. 4/2 for a moderate family - Go Show. Close to everything in Covington.

23. 2026-01-07
    historical
24. 2026-01-07
    historical
25. 2025-11-17
    price $239,900
26. 2025-11-17
    price $239,900
27. 2025-11-01
    price $249,900
28. 2025-11-01
    price $249,900
29. 2025-10-16
    price $259,900
30. 2025-10-16
    price $259,900
31. 2025-09-30
    listed $269,900 New
32. 2025-09-30
    listed $269,900 Active
33. 1998-08-07
    soldstatus $76,000

ⓘ 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: $2,172 · $181/mo
• Projected year-2 tax: $2,172 · $181/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 ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $22,354
• − Mortgage interest: −$12,318
• − Property taxes: −$2,172
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,788
• − Management: −$1,788
• − Depreciation: −$6,397
• Taxable loss: −$3,208
• Est. tax savings @ 24.0%: +$770
• After-tax cash flow: $1,321/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

+189.3% since first listed

18 events — show timeline

• 2026-05-08 Pending — GAMLS
• 2026-03-24 Price Changed $219,900 FMLS
• 2026-03-24 Price Changed $219,900 GAMLS
• 2026-03-16 Price Changed $229,900 GAMLS
• 2026-03-16 Price Changed $229,900 FMLS
• 2026-03-11 Listed $239,900 FMLS
• 2026-03-11 Listed $239,900 GAMLS
• 2026-01-07 Listing Removed — FMLS
• 2026-01-07 Listing Removed — GAMLS
• 2025-11-17 Price Changed $239,900 FMLS
• 2025-11-17 Price Changed $239,900 GAMLS
• 2025-11-01 Price Changed $249,900 GAMLS
• 2025-11-01 Price Changed $249,900 FMLS
• 2025-10-16 Price Changed $259,900 GAMLS
• 2025-10-16 Price Changed $259,900 FMLS
• 2025-09-30 Listed $269,900 FMLS
• 2025-09-30 Listed $269,900 GAMLS
• 1998-08-07 Sold (Public Records) $76,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,172 · +4.8% YoY. Source: county tax records.