194 Mitchell St · Pelham, GA 31779

$65,000

3 bd · 1.0 ba · 1,428 sqft · SingleFamily public records · 17 Days on market

Built 1950 0.28 ac lot

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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
• Appreciation +6.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Attention investors! This 3-bedroom, 1-bath property presents an excellent opportunity to expand your rental portfolio or begin building one. Currently tenant-occupied, this property offers immediate income with potential for future rent increases based on market conditions. Conveniently located in Pelham, and just approximately 30 minutes from Thomasville and one hour from Tallahassee, FL, this property benefits from easy access to employment, shopping, and regional amenities. Recent improvements make this a low-maintenance addition to an investment portfolio. For investors seeking to expand their portfolio, two additional income-producing properties are also available and may be purchased as a package deal; See Property Listings for 525 Love St. , & 216/222 Bowen St. , Pelham GA for additional opportunities. Whether you're a seasoned investor seeking to grow your portfolio or a new investor looking for a solid income-producing property, this is an opportunity worth considering, this home could also serve as an affordable option for an owner-occupant.

Key facts

• Tenant occupied
• Recent improvements
• 0.28 acre lot

Tags

• TENANT OCCUPIED
• EASY ACCESS TO EMPLOYMENT
• EASY ACCESS TO SHOPPING
• RECENT IMPROVEMENTS
• LOW MAINTENANCE ADDITION

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Single-story; Slab foundation; Block and concrete construction
• Construction: Block and concrete construction; Slab foundation
• Exterior features: Publicly maintained paved road

Interior

• Kitchen: Icemaker; Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (11 x 12); Bedroom 3 (11 x 12)
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window cooling units
• Interior features: Fireplace

🏷️ Possibly a rental listed for sale. The $65,000 price doesn't fit this home's estimated sale value (~$157,080) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 4.8% in Pelham — 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 56/100 on livability (#483 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Pelham City (rural): math 13% / reading 20% proficiency, ranked #159 of 174 in GA (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 36 active listings in the ZIP; 25 units permitted in Mitchell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (2.4% local appreciation)).
• Mitchell County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($64k) 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.
• Current owner paid $11k; list at $65k implies a 491% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.85% ✓
• Cap rate: 15.81%
• Cash-on-cash: 33.99%
• DSCR: 2.51
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $157,080
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
260 Tennyson St	0.74mi	2/1.0 (-1)	1,376 (-4%)	14mo	$152,000	$110	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.6%
• Equity multiple: 3.11×
• Total profit: $38,471
• Equity at exit: $26,879

10-year hold

• IRR: 39.3%
• Equity multiple: 6.15×
• Total profit: $93,775
• Equity at exit: $39,684

Cash invested: $18,200 (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 31779

• Home prices YoY: 1.0%
• Active inventory: 36
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,203 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$67 /mo · $806/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $516

Break-even live

Break-even rent $551

Max offer price $65,000

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $65,000 Active 17 DOM
2. 2026-06-17
   days on market $65,000 Active 16 DOM
3. 2026-06-16
   days on market $65,000 Active 15 DOM
4. 2026-06-15
   days on market $65,000 Active 14 DOM
5. 2026-06-13
   days on market $65,000 Active 12 DOM
6. 2026-06-12
   days on market $65,000 Active 11 DOM
7. 2026-06-09
   days on market $65,000 Active 8 DOM
8. 2026-06-08
   days on market $65,000 Active 7 DOM
9. 2026-06-07
   days on market $65,000 Active 6 DOM
10. 2026-06-07
    days on market $65,000 Active 5 DOM
11. 2026-06-04
    days on market $65,000 Active 2 DOM
12. 2026-06-01
    remarks 699-char remark

    Show marketing remark (1074 chars)

    Attention investors! This 3-bedroom, 1-bath property presents an excellent opportunity to expand your rental portfolio or begin building one. Currently tenant-occupied, this property offers immediate income with potential for future rent increases based on market conditions. Conveniently located in Pelham, and just approximately 30 minutes from Thomasville and one hour from Tallahassee, FL, this property benefits from easy access to employment, shopping, and regional amenities. Recent improvements make this a low-maintenance addition to an investment portfolio. For investors seeking to expand their portfolio, two additional income-producing properties are also available and may be purchased as a package deal; See Property Listings for 525 Love St. , & 216/222 Bowen St. , Pelham GA for additional opportunities. Whether you're a seasoned investor seeking to grow your portfolio or a new investor looking for a solid income-producing property, this is an opportunity worth considering, this home could also serve as an affordable option for an owner-occupant.

13. 2026-06-01
    listed $65,000 Active 1 DOM

    Show marketing remark (1074 chars)

    Attention investors! This 3-bedroom, 1-bath property presents an excellent opportunity to expand your rental portfolio or begin building one. Currently tenant-occupied, this property offers immediate income with potential for future rent increases based on market conditions. Conveniently located in Pelham, and just approximately 30 minutes from Thomasville and one hour from Tallahassee, FL, this property benefits from easy access to employment, shopping, and regional amenities. Recent improvements make this a low-maintenance addition to an investment portfolio. For investors seeking to expand their portfolio, two additional income-producing properties are also available and may be purchased as a package deal; See Property Listings for 525 Love St. , & 216/222 Bowen St. , Pelham GA for additional opportunities. Whether you're a seasoned investor seeking to grow your portfolio or a new investor looking for a solid income-producing property, this is an opportunity worth considering, this home could also serve as an affordable option for an owner-occupant.

ⓘ 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: $806 · $67/mo
• Projected year-2 tax: $806 · $67/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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,441
• − Mortgage interest: −$3,641
• − Property taxes: −$806
• − Insurance: −$325
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$1,891
• Taxable income: $5,468
• Est. tax owed @ 24.0%: −$1,312
• After-tax cash flow: $4,875/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: Pelham City
• NCES district ID: 1304080
• Math proficiency: 13% ▼ -20.00%
• Reading proficiency: 20% ▼ -6.00%
• Median HH income: $27,961
• Composite: 12.88/100
• National rank: #9589
• State rank: #159 of 174 in GA

Livability — Pelham

• Score: 56/100
• State rank: #483
• US rank: #22451

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pelham, GA
• Population (ZIP): 8,877

Population outlook (Mitchell County) Hauer SSP2

• Today (2025): 20,489 people
• By 2030: 19,310 · -5.8%
• By 2040: 16,971 · -17.2%
• By 2050: 14,616 · -28.7%
• By 2075: 9,435 · -54.0%
• By 2100: 5,424 · -73.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Black 40% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Mitchell

• 2024 margin: R (+16.3) · D 41.7% · R 58.0%
• 2008→2024 swing: -12.3pp toward R · 2008: -4.1pp · 2024: -16.3pp
• All cycles: 2024: R+16.3 2020: R+10.5 2016: R+9.9 2012: R+0.9 2008: R+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.35%
• Current HPI: 242.0914
• 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

+490.9% since first listed

3 events — show timeline

• 2026-06-01 Listed $65,000 TABRMLS
• 2026-06-01 Listed $65,000 CATRS
• 1994-03-07 Sold (Public Records) $11,000 Public Records

Property tax history

+16.2%/yr

Latest (2025): $806 · -0.1% YoY. Source: county tax records.