8165 Laurel Dr · Covington, GA 30014

$214,900

3 bd · 2.0 ba · 1,492 sqft · SingleFamily public records · 84 Days on market

Built 1965 0.41 ac lot $144/sqft · 11% below area Est $240k · 11% 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 +12.5/30.0
• ARV discount +12.3/15.0
• DSCR +3.7/10.0
• 1% rule +3.0/10.0
• 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

Just minutes from the Covington Square, this property offers a rare combination of workshop space and a nearly 1/2-acre lot! This charming 4-sided brick ranch offers nearly 1,500 square feet with 3 bedrooms, hardwood floors throughout, fresh interior paint, and an updated kitchen that gives the home a clean, move-in ready feel. Major improvements have already been taken care of, including a recently installed HVAC system, updated electrical panel, and a roof approximately 7 years old, providing added peace of mind for buyers. Step outside and enjoy a spacious backyard with plenty of room to create your own outdoor retreat. The property also includes an attached workshop/man cave offering excellent space for hobbies, projects, storage, or a private retreat, along with a large detached storage building in the backyard. An above-ground pool with deck is also present and offers potential for future use if desired. Homes with this much space, flexibility, and proximity to downtown Covington don't come along often - schedule your showing today.

Key facts

• 0.41 acre lot
• Pool
• Built 1965

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-31 ($-369/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (19.7% below list).
• Recommended offer: $173k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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; 479 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $6k 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 84 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $215k implies a 616% 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 $172,643 (19.7% 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. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.80% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• GRM: 10.4

CMA / ARV

• ARV (median comp): $240,331
• List price: $214,900
• Delta: -10.58%
• 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
6387 Avery St SW	0.45mi	3/2.0	1,479 (-1%)	1mo	$205,000	$139	76
9105 Sterling Lakes Cir	0.36mi	4/3.0 (+1)	1,500 (+0%)	12mo	$223,000	$149	64
6358 Avery St SW	0.43mi	3/2.0	1,520 (+2%)	18mo	$210,000	$138	62
9105 Highland Dr SW	0.19mi	3/1.0	1,375 (-8%)	15mo	$219,500	$160	62
6184 Avery St	0.31mi	3/2.0	1,390 (-7%)	15mo	$230,000	$165	61
10121 Morris Dr SW	0.73mi	3/1.0	1,449 (-3%)	2mo	$110,000	$76	56
9106 Griffin Ln SW	0.66mi	3/2.0	1,350 (-10%)	4mo	$89,000	$66	50
9135 Ford St SW	0.52mi	3/1.0	1,344 (-10%)	13mo	$75,000	$56	44
8302 N Sterling Lakes Dr	0.36mi	4/2.5 (+1)	1,694 (+14%)	12mo	$210,000	$124	44
10164 Sunny Dr SW	0.57mi	4/1.0 (+1)	1,378 (-8%)	10mo	$200,000	$145	44
9124 Comstock Ct	0.45mi	4/2.0 (+1)	1,708 (+14%)	10mo	$260,000	$152	41
6255 Green Acres Dr SW	0.74mi	3/1.0	1,296 (-13%)	13mo	$190,000	$147	29

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: -20.0%
• Equity multiple: 0.32×
• Total profit: $-41,017
• Equity at exit: $32,042

10-year hold

• IRR: -19.0%
• Equity multiple: 0.09×
• Total profit: $-54,777
• Equity at exit: $18,581

Cash invested: $60,172 (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 30014

• Home prices YoY: -19.2%
• Rents YoY: 0.5%
• Active inventory: 479
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,726 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$178 /mo · $2,138/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $-31

Break-even live

Break-even rent $1,765

Max offer price $209,462

Occupancy floor 97%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6126 Avery St SW Covington, GA	3.0	2.5	1600	$1,881	$1.18	24d	1	0.49mi
9161 Thrash St SW Covington, GA	4.0	2.0	1272	$1,481	$1.16	43d	1	0.54mi
8247 Spillers Dr SW Covington, GA	3.0	1.5	1530	$1,500	$0.98	12d	1	0.55mi
8189 Spillers Dr SW Covington, GA	2.0	2.5	1080	$1,395	$1.29	5d	1	0.62mi
10154 Allen Dr SW Covington, GA	3.0	2.0	1056	$1,800	$1.70	5d	1	0.65mi
10154 Allen Dr SW Covington, GA	3.0	2.0	1056	$1,800	$1.70	20d	1	0.65mi
8246 Collier St SW Covington, GA	3.0	1.0	1225	$1,300	$1.06	43d	1	0.68mi
5132 Avery St SW Unit A (APT 101) Covington, GA	2.0	2.0	900	$1,600	$1.78	5d	1	0.78mi
6100 Greenleaf Ct SW Covington, GA	3.0	1.0	1000	$1,400	$1.40	16d	1	0.79mi
65 Kenzi Way SW Covington, GA	3.0	2.0	1217	$1,000	$0.82	5d	1	0.82mi
9220 Spillers Dr SW Covington, GA	3.0	2.0	1192	$1,455	$1.22	5d	1	0.84mi
6103 Oakwood Cir SW Covington, GA	3.0	2.0	1372	$900	$0.66	17d	1	0.87mi
9135 Jefferson Village Dr SW Covington, GA	3.0	2.5	1126	$1,736	$1.54	5d	1	0.91mi
9123 Jefferson Village Dr SW Covington, GA	3.0	2.0	1220	$1,750	$1.43	22d	1	0.91mi
6154 Green Acres Dr SW Covington, GA	3.0	1.0	1040	$1,900	$1.83	24d	1	0.92mi
9136 Tara Dr SW Covington, GA	3.0	2.5	1530	$2,040	$1.33	5d	1	1.23mi
9166 Tara Dr SW Covington, GA	3.0	2.0	1381	$1,650	$1.19	43d	1	1.27mi
100 Fleeta Dr Covington, GA	3.0	2.0	1379	$1,550	$1.12	5d	1	1.30mi
8000 Revolution WAY Covington, GA	2.0	2.0	1170	$1,692	$1.45	1d	15	1.32mi
4112 Dorchester Dr SE Covington, GA	3.0–5.0	2.5–4.0	2299	$2,621	$1.14	1d	1	1.41mi
9270 Scarlett Dr SW Covington, GA	3.0	2.0	1438	$1,795	$1.25	24d	1	1.42mi

Listing history 25 events

1. 2026-06-18
   days on market $214,900 Active 84 DOM
2. 2026-06-17
   days on market $214,900 Active 83 DOM
3. 2026-06-16
   days on market $214,900 Active 82 DOM
4. 2026-06-15
   days on market $214,900 Active 81 DOM
5. 2026-06-13
   days on market $214,900 Active 79 DOM
6. 2026-06-13
   days on market $214,900 Active 78 DOM
7. 2026-06-09
   days on market $214,900 Active 75 DOM
8. 2026-06-08
   days on market $214,900 Active 74 DOM
9. 2026-06-07
   days on market $214,900 Active 73 DOM
10. 2026-06-04
    days on market $214,900 Active 70 DOM
11. 2026-06-03
    days on market $214,900 Active 69 DOM
12. 2026-06-02
    days on market $214,900 Active 68 DOM
13. 2026-06-01
    days on market $214,900 Active 67 DOM
14. 2026-05-31
    days on market $214,900 Active 66 DOM
15. 2026-04-23
    price $214,900 1063-char remark

    Show marketing remark (1063 chars)

    Just minutes from the Covington Square, this property offers a rare combination of workshop space and a nearly 1/2-acre lot! This charming 4-sided brick ranch offers nearly 1,500 square feet with 3 bedrooms, hardwood floors throughout, fresh interior paint, and an updated kitchen that gives the home a clean, move-in ready feel. Major improvements have already been taken care of, including a recently installed HVAC system, updated electrical panel, and a roof approximately 7 years old, providing added peace of mind for buyers. Step outside and enjoy a spacious backyard with plenty of room to create your own outdoor retreat. The property also includes an attached workshop/man cave offering excellent space for hobbies, projects, storage, or a private retreat, along with a large detached storage building in the backyard. An above-ground pool with deck is also present and offers potential for future use if desired. Homes with this much space, flexibility, and proximity to downtown Covington don't come along often - schedule your showing today.

16. 2026-04-23
    price $214,900 1063-char remark

    Show marketing remark (1063 chars)

    Just minutes from the Covington Square, this property offers a rare combination of workshop space and a nearly 1/2-acre lot! This charming 4-sided brick ranch offers nearly 1,500 square feet with 3 bedrooms, hardwood floors throughout, fresh interior paint, and an updated kitchen that gives the home a clean, move-in ready feel. Major improvements have already been taken care of, including a recently installed HVAC system, updated electrical panel, and a roof approximately 7 years old, providing added peace of mind for buyers. Step outside and enjoy a spacious backyard with plenty of room to create your own outdoor retreat. The property also includes an attached workshop/man cave offering excellent space for hobbies, projects, storage, or a private retreat, along with a large detached storage building in the backyard. An above-ground pool with deck is also present and offers potential for future use if desired. Homes with this much space, flexibility, and proximity to downtown Covington don't come along often - schedule your showing today.

17. 2026-03-26
    listed $239,900 New 1063-char remark

    Show marketing remark (1063 chars)

    Just minutes from the Covington Square, this property offers a rare combination of workshop space and a nearly 1/2-acre lot! This charming 4-sided brick ranch offers nearly 1,500 square feet with 3 bedrooms, hardwood floors throughout, fresh interior paint, and an updated kitchen that gives the home a clean, move-in ready feel. Major improvements have already been taken care of, including a recently installed HVAC system, updated electrical panel, and a roof approximately 7 years old, providing added peace of mind for buyers. Step outside and enjoy a spacious backyard with plenty of room to create your own outdoor retreat. The property also includes an attached workshop/man cave offering excellent space for hobbies, projects, storage, or a private retreat, along with a large detached storage building in the backyard. An above-ground pool with deck is also present and offers potential for future use if desired. Homes with this much space, flexibility, and proximity to downtown Covington don't come along often - schedule your showing today.

18. 2026-03-26
    listed $239,900 Active 1063-char remark

    Show marketing remark (1063 chars)

    Just minutes from the Covington Square, this property offers a rare combination of workshop space and a nearly 1/2-acre lot! This charming 4-sided brick ranch offers nearly 1,500 square feet with 3 bedrooms, hardwood floors throughout, fresh interior paint, and an updated kitchen that gives the home a clean, move-in ready feel. Major improvements have already been taken care of, including a recently installed HVAC system, updated electrical panel, and a roof approximately 7 years old, providing added peace of mind for buyers. Step outside and enjoy a spacious backyard with plenty of room to create your own outdoor retreat. The property also includes an attached workshop/man cave offering excellent space for hobbies, projects, storage, or a private retreat, along with a large detached storage building in the backyard. An above-ground pool with deck is also present and offers potential for future use if desired. Homes with this much space, flexibility, and proximity to downtown Covington don't come along often - schedule your showing today.

19. 2026-03-23
    historical $239,900 1063-char remark

    Show marketing remark (1063 chars)

    Just minutes from the Covington Square, this property offers a rare combination of workshop space and a nearly 1/2-acre lot! This charming 4-sided brick ranch offers nearly 1,500 square feet with 3 bedrooms, hardwood floors throughout, fresh interior paint, and an updated kitchen that gives the home a clean, move-in ready feel. Major improvements have already been taken care of, including a recently installed HVAC system, updated electrical panel, and a roof approximately 7 years old, providing added peace of mind for buyers. Step outside and enjoy a spacious backyard with plenty of room to create your own outdoor retreat. The property also includes an attached workshop/man cave offering excellent space for hobbies, projects, storage, or a private retreat, along with a large detached storage building in the backyard. An above-ground pool with deck is also present and offers potential for future use if desired. Homes with this much space, flexibility, and proximity to downtown Covington don't come along often - schedule your showing today.

20. 2026-03-23
    historical $239,900 1063-char remark

    Show marketing remark (1063 chars)

    Just minutes from the Covington Square, this property offers a rare combination of workshop space and a nearly 1/2-acre lot! This charming 4-sided brick ranch offers nearly 1,500 square feet with 3 bedrooms, hardwood floors throughout, fresh interior paint, and an updated kitchen that gives the home a clean, move-in ready feel. Major improvements have already been taken care of, including a recently installed HVAC system, updated electrical panel, and a roof approximately 7 years old, providing added peace of mind for buyers. Step outside and enjoy a spacious backyard with plenty of room to create your own outdoor retreat. The property also includes an attached workshop/man cave offering excellent space for hobbies, projects, storage, or a private retreat, along with a large detached storage building in the backyard. An above-ground pool with deck is also present and offers potential for future use if desired. Homes with this much space, flexibility, and proximity to downtown Covington don't come along often - schedule your showing today.

21. 2022-06-27
    soldstatus $30,000 Closed
22. 2022-03-01
    status Active Under Contract
23. 2022-01-14
    historical Active Under Contract
24. 2022-01-14
    historical
25. 2021-10-26
    listed $49,500 Active

ⓘ 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: $2,138 · $178/mo
• Projected year-2 tax: $2,138 · $178/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 · 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: $20,717
• − Mortgage interest: −$12,038
• − Property taxes: −$2,138
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,657
• − Management: −$1,657
• − Depreciation: −$6,252
• Taxable loss: −$4,099
• Est. tax savings @ 24.0%: +$984
• After-tax cash flow: $614/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

+334.1% since first listed

11 events — show timeline

• 2026-04-23 Price Changed $214,900 FMLS
• 2026-04-23 Price Changed $214,900 GAMLS
• 2026-03-26 Listed $239,900 GAMLS
• 2026-03-26 Listed $239,900 FMLS
• 2026-03-23 Coming Soon $239,900 FMLS
• 2026-03-23 Coming Soon $239,900 GAMLS
• 2022-06-27 Sold (MLS) $30,000 FMLS
• 2022-03-01 Relisted — FMLS
• 2022-01-14 Contingent — FMLS
• 2022-01-14 Listing Removed — FMLS
• 2021-10-26 Listed $49,500 FMLS

Property tax history

+2.5%/yr

Latest (2025): $2,138 · +10.8% YoY. Source: county tax records.