860 Indian Springs Dr · Forsyth, GA 31029

$175,000

0 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 42 Days on market

Built 1996 1.16 ac lot ↓ 3% since listing

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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 +15.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.4/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Versatile Commercial Property Near Downtown Forsyth!!! This unique property offers an excellent opportunity for investors, entrepreneurs, or organizations seeking a flexible space for a church, daycare, nonprofit, or other business venture. The property features three separate block structures, providing versatility and functionality. The main building is 1,512 sq ft. Currently home to an operating business, this building offers a spacious open layout and includes two bathrooms, making it ideal for gatherings, offices, or commercial use. The second building is being used as part of the operating business, this open-concept structure includes two bathrooms, offering additional flexibility for on-site use or support space. The third building is dedicated storage structure, perfect for equipment, supplies, or inventory. The property boasts ample parking and is conveniently located near downtown Forsyth, providing easy access and visibility. Contact Samuel Burney today to schedule a showing and explore the potential of this versatile property.

Key facts

• Flexible space
• Full bathroom
• Ample parking

Tags

• FLEXIBLE SPACE
• SPACIOUS OPEN LAYOUT
• FULL BATHROOM
• DEDICATED STORAGE STRUCTURE
• AMPLE PARKING

What this means for you Summary

Snapshot

• This is a ?-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/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 $164k (6.5% below list).
• Recommended offer: $164k (6.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.1% in Forsyth — 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 76/100 on livability (#24 in GA, #3,557 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Monroe County (rural): math 43% / reading 48% proficiency, ranked #22 of 174 in GA (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Samuel E. Hubbard Elementary School (math 48% / reading 41%, grade F, #336 of 1,228 statewide, top 29%, 732 students, 57% FRL); Monroe County Middle School- Banks Stephens Campus (math 45% / reading 50%, grade C-, #84 of 470 statewide, top 19%, 994 students, 47% FRL); Mary Persons High School (math 21% / reading 57%, grade F, #59 of 424 statewide, top 14%, 1,287 students, 41% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 280 active listings in the ZIP; 281 units permitted in Monroe County in 2024 (0 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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 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

• Climate carrying-cost: major wind risk, 55% 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 $163,712 (6.5% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.06%
• DSCR: 1.09
• GRM: 8.9

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: -13.0%
• Equity multiple: 0.53×
• Total profit: $-22,987
• Equity at exit: $26,093

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-13,032
• Equity at exit: $15,131

Cash invested: $49,000 (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 31029

• Home prices YoY: -10.0%
• Active inventory: 280
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,637 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $84

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 90%

Sensitivity live

Price	-10% $205	-5% $144	+0% $84	+5% $23	+10% $-37
Rent	-10% $-45	-5% $19	+0% $84	+5% $149	+10% $213
Rate	-1.0pp $172	-0.5pp $128	base $84	+0.5pp $39	+1.0pp $-8

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-03-23
   soldstatus $170,000 Sold 1072-char remark

   Show marketing remark (1072 chars)

   Versatile Commercial Property Near Downtown Forsyth!!! This unique property offers an excellent opportunity for investors, entrepreneurs, or organizations seeking a flexible space for a church, daycare, nonprofit, or other business venture. The property features three separate block structures, providing versatility and functionality. The main building is 1,512 sq ft. Currently home to an operating business, this building offers a spacious open layout and includes two bathrooms, making it ideal for gatherings, offices, or commercial use. The second building is being used as part of the operating business, this open-concept structure includes two bathrooms, offering additional flexibility for on-site use or support space. The third building is dedicated storage structure, perfect for equipment, supplies, or inventory. The property boasts ample parking and is conveniently located near downtown Forsyth, providing easy access and visibility. Contact Samuel Burney today to schedule a showing and explore the potential of this versatile property.

2. 2026-02-08
   status Pending

   Show marketing remark (1072 chars)

   Versatile Commercial Property Near Downtown Forsyth!!! This unique property offers an excellent opportunity for investors, entrepreneurs, or organizations seeking a flexible space for a church, daycare, nonprofit, or other business venture. The property features three separate block structures, providing versatility and functionality. The main building is 1,512 sq ft. Currently home to an operating business, this building offers a spacious open layout and includes two bathrooms, making it ideal for gatherings, offices, or commercial use. The second building is being used as part of the operating business, this open-concept structure includes two bathrooms, offering additional flexibility for on-site use or support space. The third building is dedicated storage structure, perfect for equipment, supplies, or inventory. The property boasts ample parking and is conveniently located near downtown Forsyth, providing easy access and visibility. Contact Samuel Burney today to schedule a showing and explore the potential of this versatile property.

3. 2026-02-08
   status Under Contract 1072-char remark

   Show marketing remark (1072 chars)

   Versatile Commercial Property Near Downtown Forsyth!!! This unique property offers an excellent opportunity for investors, entrepreneurs, or organizations seeking a flexible space for a church, daycare, nonprofit, or other business venture. The property features three separate block structures, providing versatility and functionality. The main building is 1,512 sq ft. Currently home to an operating business, this building offers a spacious open layout and includes two bathrooms, making it ideal for gatherings, offices, or commercial use. The second building is being used as part of the operating business, this open-concept structure includes two bathrooms, offering additional flexibility for on-site use or support space. The third building is dedicated storage structure, perfect for equipment, supplies, or inventory. The property boasts ample parking and is conveniently located near downtown Forsyth, providing easy access and visibility. Contact Samuel Burney today to schedule a showing and explore the potential of this versatile property.

4. 2025-12-27
   listed $175,000 Active
5. 2025-12-24
   listed $175,000 New 1072-char remark

   Show marketing remark (1072 chars)

   Versatile Commercial Property Near Downtown Forsyth!!! This unique property offers an excellent opportunity for investors, entrepreneurs, or organizations seeking a flexible space for a church, daycare, nonprofit, or other business venture. The property features three separate block structures, providing versatility and functionality. The main building is 1,512 sq ft. Currently home to an operating business, this building offers a spacious open layout and includes two bathrooms, making it ideal for gatherings, offices, or commercial use. The second building is being used as part of the operating business, this open-concept structure includes two bathrooms, offering additional flexibility for on-site use or support space. The third building is dedicated storage structure, perfect for equipment, supplies, or inventory. The property boasts ample parking and is conveniently located near downtown Forsyth, providing easy access and visibility. Contact Samuel Burney today to schedule a showing and explore the potential of this versatile property.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,645
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,572
• − Management: −$1,572
• − Depreciation: −$5,091
• Taxable loss: −$1,891
• Est. tax savings @ 24.0%: +$454
• After-tax cash flow: $1,461/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: Monroe County
• NCES district ID: 1303720
• Math proficiency: 43% ▼ -14.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $48,955
• Composite: 38.94/100
• National rank: #4084
• State rank: #22 of 174 in GA

Livability — Forsyth

• Score: 76/100
• State rank: #24
• US rank: #3557

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 18,311
• Population (ZIP): 18,311

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 28,503 people
• By 2030: 28,940 · +1.5%
• By 2040: 29,157 · +2.3%
• By 2050: 28,646 · +0.5%
• By 2075: 27,261 · -4.4%
• By 2100: 23,757 · -16.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 22% Hispanic / Latino 3% Asian 2% Two or more races 2%
• Common ancestry: Serbian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Monroe

• 2024 margin: Solid R (+46.7) · D 26.5% · R 73.2%
• 2008→2024 swing: -15.1pp toward R · 2008: -31.5pp · 2024: -46.7pp
• All cycles: 2024: R+46.7 2020: R+42.8 2016: R+41.4 2012: R+37.3 2008: R+31.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -27.57%
• Current HPI: 247.3119
• 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

-2.9% since first listed

5 events — show timeline

• 2026-03-23 Sold (MLS) $170,000 GAMLS
• 2026-02-08 Pending — CGMLS
• 2026-02-08 Pending — GAMLS
• 2025-12-27 Listed $175,000 CGMLS
• 2025-12-24 Listed $175,000 GAMLS