125 Steele Dr · Lovejoy, GA 30228

$60,000

3 bd · 2.0 ba · 1,560 sqft · Manufactured public records · 7 Days on market

Built 2004

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits on this spacious corner lot located just steps from the lake! This property features a 3-bedroom, 2-bath home that has sustained severe fire damage and will require significant renovation or rebuilding. The generous lot offers plenty of outdoor space and includes a beautiful blueberry bush, adding charm and seasonal enjoyment. Two storage sheds provide excellent space for tools, equipment, or outdoor belongings. With its desirable lakeside setting, corner-lot location, and ample yard space, this property presents a unique opportunity for investors, builders, or buyers looking to create their dream retreat. Bring your vision and explore the possibilities this special property has to offer.

Key facts

• Lakeside setting
• Blueberry bush
• Outdoor space

Tags

• CORNER LOT
• BLUEBERRY BUSH
• STORAGE SHEDS
• LAKESIDE SETTING
• OUTDOOR SPACE

Property features AI

Exterior

• Parking: Space for 6 vehicles; Driveway with level access; Open parking available
• Security: No security features listed
• Utilities: Public water; Septic tank sewer
• Home design: One-level home
• Construction: Construction materials: Other; Roof: Other; Property listed as fixer
• Exterior features: Lakefront property; Shed(s) and storage structures

Interior

• Kitchen: No kitchen features listed
• Bedrooms: Three main-level bedrooms; Master bedroom on main level
• Flooring: No flooring information listed
• Bathrooms: Two full bathrooms (both on the main level); No master bathroom features listed
• Heating & cooling: No heating or cooling information listed
• Interior features: No shared/common walls; Other interior features
• Laundry & utility: No laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $760 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 22.8% vs local median 4.4% in Lovejoy — 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 62/100 on livability (#317 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hampton Middle School (math 18% / reading 33%, grade F, #288 of 470 statewide, top 62%, 850 students, 62% FRL); Hampton High School (math 22% / reading 34%, grade F, #151 of 424 statewide, top 36%, 1,265 students, 50% FRL).
• Market conditions: Rents rising (+2.2%/yr); 547 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Henry County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $60,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 2.95% ✓
• Cap rate: 22.82%
• Cash-on-cash: 59.04%
• DSCR: 3.63
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $148,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
270 E James Cir	0.45mi	2/2.0 (-1)	1,736 (+11%)	10mo	$165,000	$95	47

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 · 2.2% rent growth · sell at horizon

5-year hold

• IRR: 51.5%
• Equity multiple: 3.23×
• Total profit: $37,442
• Equity at exit: $8,946

10-year hold

• IRR: 56.5%
• Equity multiple: 6.35×
• Total profit: $89,905
• Equity at exit: $5,188

Cash invested: $16,800 (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 30228

• Home prices YoY: -24.3%
• Rents YoY: 2.2%
• Active inventory: 547
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,768 high
• Mortgage (P&I): −$315
• Tax from tax record: −$230 /mo · $2,763/yr
• Insurance: −$25
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $760

Break-even live

Break-even rent $805

Max offer price $60,000

Occupancy floor 52%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 E James Cir Hampton, GA	2.0	2.0	1100	$1,100	$1.00	44d	1	0.14mi
816 Marcus Ln Hampton, GA	3.0	2.5	2084	$1,889	$0.91	44d	1	0.94mi
1330 N Hampton Dr Hampton, GA	3.0	2.0	1228	$1,685	$1.37	13d	1	1.07mi
1323 N Hampton Dr Hampton, GA	3.0	2.0	1208	$1,794	$1.49	44d	1	1.10mi
1514 N Hampton Ct Hampton, GA	3.0	2.0	1208	$1,700	$1.41	13d	1	1.12mi
1299 N Hampton Dr Hampton, GA	3.0	2.0	1232	$1,790	$1.45	5d	1	1.16mi
2074 Boatswain Dr Hampton, GA	3.0	2.5	1490	$1,965	$1.32	21d	1	1.16mi
637 Lynchburg St Hampton, GA	4.0	2.5	1867	$2,100	$1.12	24d	1	1.50mi

Listing history 6 events

1. 2026-06-18
   days on market $60,000 Active 7 DOM
2. 2026-06-17
   days on market $60,000 Active 6 DOM
3. 2026-06-16
   days on market $60,000 Active 5 DOM
4. 2026-06-15
   days on market $60,000 Active 4 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $60,000 Active 2 DOM

ⓘ 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: $2,763 · $230/mo
• Projected year-2 tax: $2,763 · $230/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 7/10 Severe FEMA zone X (unshaded) · 95% 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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,212
• − Mortgage interest: −$3,361
• − Property taxes: −$2,763
• − Insurance: −$1,098
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$1,745
• Taxable income: $8,851
• Est. tax owed @ 24.0%: −$2,124
• After-tax cash flow: $6,997/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: Henry County
• NCES district ID: 1302820
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $62,594
• Composite: 26.13/100
• National rank: #7279
• State rank: #89 of 174 in GA

Livability — Lovejoy

• Score: 62/100
• State rank: #317
• US rank: #17071

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henry County · 316,359 people
• City population: 606
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 52,402
• Household income: $82,619
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 1285.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 249,041 people
• By 2030: 264,369 · +6.2%
• By 2040: 294,459 · +18.2%
• By 2050: 322,249 · +29.4%
• By 2075: 392,310 · +57.5%
• By 2100: 437,836 · +75.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (63%)
• Race & ethnicity: Black 63% White 23% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Hispanic 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 89% English-only · Spanish 6% French/Haitian/Cajun 2% Vietnamese 1%

Political lean MEDSL · Henry

• 2024 margin: Strong D (+29.7) · D 64.5% · R 34.9%
• 2008→2024 swing: +37.1pp toward D · 2008: -7.5pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+20.5 2016: D+4.3 2012: R+3.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.11%
• Current HPI: 222.0357
• Rent YoY: ▲ 2.20%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-11 Listed $60,000 GAMLS
• 2026-06-11 Listed $60,000 FMLS

Property tax history

+5.7%/yr

Latest (2025): $2,763 · -8.3% YoY. Source: county tax records.