1251 Boones Bridge Rd · Madison, GA 30650

$295,000

3 bd · 1.5 ba · 2,052 sqft · Manufactured public records · 28 Days on market

Built 2001 2.78 ac lot

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Why this score? — see what drove the F 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 +7.8/30.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This may just be the best buy in Morgan County! Only 4 miles from downtown Madison this Newly Renovated Large Manufactured Home on a beautiful nearly 3 acres is a must see. This home features brand new porches front and back with beautiful views, A large eat in kitchen, Family Room and Den, A HUGE Master Suite with a private sitting area, 3 spacious secondary bedrooms, new carpet throughout, fresh paint throughout, new vanities, freshly serviced HVAC, HUGE master closet, and a spacious separate laundry room. This is the perfect country living home under 110k in the Morgan County school district. Don't miss out on you and your family calling this gem Home Sweet Home!

Key facts

• Private acres
• Updated flooring
• Usable land

Tags

• REMODELED HOME
• PRIVATE ACRES
• UPDATED FLOORING
• REFRESHED KITCHEN
• USABLE LAND
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $295k.

Deal economics

• At list price, monthly cash flow is $-326 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (19.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (39.2% below list).
• Recommended offer: $179k (39.2% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 1.8% in Madison — 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 (#88 in GA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: amenities F, commute F, health & safety F.
• Morgan County (town): math 49% / reading 45% proficiency, ranked #20 of 174 in GA (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Morgan County Primary School (872 students, 50% FRL); Morgan County Middle School (math 44% / reading 49%, grade D+, #94 of 470 statewide, top 20%, 806 students, 41% FRL); Morgan County High School (math 39% / reading 32%, grade F, #81 of 424 statewide, top 19%, 1,072 students, 36% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 155 active listings in the ZIP; 164 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Morgan County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $112k; list at $295k implies a 163% 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,457 (39.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.61% ✗
• Cap rate: 4.97%
• Cash-on-cash: -4.73%
• DSCR: 0.79
• GRM: 13.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -24.4%
• Equity multiple: 0.17×
• Total profit: $-68,704
• Equity at exit: $43,985

10-year hold

• IRR: -20.1%
• Equity multiple: -0.06×
• Total profit: $-87,168
• Equity at exit: $25,506

Cash invested: $82,600 (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 30650

• Active inventory: 155
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $1,795 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$74 /mo · $882/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $-326

Break-even live

Break-even rent $2,207

Max offer price $237,456

Occupancy floor —

Sensitivity live

Price	-10% $-159	-5% $-242	+0% $-326	+5% $-409	+10% $-493
Rent	-10% $-468	-5% $-397	+0% $-326	+5% $-255	+10% $-184
Rate	-1.0pp $-177	-0.5pp $-251	base $-326	+0.5pp $-402	+1.0pp $-480

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-03-19
   status Under Contract
2. 2026-02-26
   price $295,000
3. 2026-02-18
   listed $325,000 New
4. 2025-12-22
   soldstatus $112,230
5. 2018-12-31
   soldstatus $106,000
6. 2018-11-16
   soldstatus $106,000 674-char remark

   Show marketing remark (674 chars)

   This may just be the best buy in Morgan County! Only 4 miles from downtown Madison this Newly Renovated Large Manufactured Home on a beautiful nearly 3 acres is a must see. This home features brand new porches front and back with beautiful views, A large eat in kitchen, Family Room and Den, A HUGE Master Suite with a private sitting area, 3 spacious secondary bedrooms, new carpet throughout, fresh paint throughout, new vanities, freshly serviced HVAC, HUGE master closet, and a spacious separate laundry room. This is the perfect country living home under 110k in the Morgan County school district. Don't miss out on you and your family calling this gem Home Sweet Home!

7. 2018-08-31
   listed $109,000 674-char remark

   Show marketing remark (674 chars)

   This may just be the best buy in Morgan County! Only 4 miles from downtown Madison this Newly Renovated Large Manufactured Home on a beautiful nearly 3 acres is a must see. This home features brand new porches front and back with beautiful views, A large eat in kitchen, Family Room and Den, A HUGE Master Suite with a private sitting area, 3 spacious secondary bedrooms, new carpet throughout, fresh paint throughout, new vanities, freshly serviced HVAC, HUGE master closet, and a spacious separate laundry room. This is the perfect country living home under 110k in the Morgan County school district. Don't miss out on you and your family calling this gem Home Sweet Home!

8. 2018-03-20
   soldstatus $56,000 716-char remark

   Show marketing remark (716 chars)

   Looking for a place to call your home in the country on acreage, 2.78. Be sure to check this one out. This spacious 4 bedroom 2 bath double wide mobile home on a permanent foundation maybe the best buy in the county right now. With 2,000+ square feet, there is room for a large or extended family. The living room flows into the dining area and then the kitchen or into a den /playroom for the younger family members. Owner's suite features a separate sitting area, large bath and a huge closet. Laundry room accommodates much more than a washer and dryer. The slightly sloping lot is ideal for a playground, gardening or a storage building for pursuing hobbies or other interests. Property is being sold AS IS.

9. 2018-03-20
   soldstatus $56,000

   Show marketing remark (716 chars)

   Looking for a place to call your home in the country on acreage, 2.78. Be sure to check this one out. This spacious 4 bedroom 2 bath double wide mobile home on a permanent foundation maybe the best buy in the county right now. With 2,000+ square feet, there is room for a large or extended family. The living room flows into the dining area and then the kitchen or into a den /playroom for the younger family members. Owner's suite features a separate sitting area, large bath and a huge closet. Laundry room accommodates much more than a washer and dryer. The slightly sloping lot is ideal for a playground, gardening or a storage building for pursuing hobbies or other interests. Property is being sold AS IS.

10. 2018-02-08
    listed $52,500 716-char remark

    Show marketing remark (716 chars)

    Looking for a place to call your home in the country on acreage, 2.78. Be sure to check this one out. This spacious 4 bedroom 2 bath double wide mobile home on a permanent foundation maybe the best buy in the county right now. With 2,000+ square feet, there is room for a large or extended family. The living room flows into the dining area and then the kitchen or into a den /playroom for the younger family members. Owner's suite features a separate sitting area, large bath and a huge closet. Laundry room accommodates much more than a washer and dryer. The slightly sloping lot is ideal for a playground, gardening or a storage building for pursuing hobbies or other interests. Property is being sold AS IS.

11. 2018-02-08
    listed $52,500

    Show marketing remark (716 chars)

    Looking for a place to call your home in the country on acreage, 2.78. Be sure to check this one out. This spacious 4 bedroom 2 bath double wide mobile home on a permanent foundation maybe the best buy in the county right now. With 2,000+ square feet, there is room for a large or extended family. The living room flows into the dining area and then the kitchen or into a den /playroom for the younger family members. Owner's suite features a separate sitting area, large bath and a huge closet. Laundry room accommodates much more than a washer and dryer. The slightly sloping lot is ideal for a playground, gardening or a storage building for pursuing hobbies or other interests. Property is being sold AS IS.

ⓘ 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: $882 · $74/mo
• Projected year-2 tax: $2,714 · $226/mo
• Expected delta: +$1,832/yr (+$153/mo · 207.6%)

ⓘ 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 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,535
• − Mortgage interest: −$16,525
• − Property taxes: −$882
• − Insurance: −$1,475
• − Repairs & maintenance: −$1,723
• − Management: −$1,723
• − Depreciation: −$8,582
• Taxable loss: −$9,374
• Est. tax savings @ 24.0%: +$2,250
• After-tax cash flow: $-1,659/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: Morgan County
• NCES district ID: 1303780
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $50,713
• Composite: 40.39/100
• National rank: #3731
• State rank: #20 of 174 in GA

Livability — Madison

• Score: 71/100
• State rank: #88
• US rank: #7252

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 13,398
• Population (ZIP): 13,398

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 18,277 people
• By 2030: 18,213 · -0.4%
• By 2040: 17,709 · -3.1%
• By 2050: 16,761 · -8.3%
• By 2075: 14,143 · -22.6%
• By 2100: 10,523 · -42.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 26% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+46.0) · D 26.8% · R 72.8%
• 2008→2024 swing: -14.3pp toward R · 2008: -31.6pp · 2024: -46.0pp
• All cycles: 2024: R+46.0 2020: R+41.7 2016: R+41.4 2012: R+38.0 2008: R+31.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.25%
• Current HPI: 282.7041
• 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

+461.9% since first listed

11 events — show timeline

• 2026-03-19 Pending — GAMLS
• 2026-02-26 Price Changed $295,000 GAMLS
• 2026-02-18 Listed $325,000 GAMLS
• 2025-12-22 Sold (Public Records) $112,230 Public Records
• 2018-12-31 Sold (Public Records) $106,000 Public Records
• 2018-11-16 Sold (MLS) $106,000 GAMLS
• 2018-08-31 Listed $109,000 GAMLS
• 2018-03-20 Sold (MLS) $56,000 GAMLS
• 2018-03-20 Sold (MLS) $56,000 Hive MLS
• 2018-02-08 Listed $52,500 GAMLS
• 2018-02-08 Listed $52,500 Hive MLS

Property tax history

+10.1%/yr

Latest (2025): $882 · -1.6% YoY. Source: county tax records.