717 Glenmore Ave · Waycross, GA 31503

$49,900

2 bd · 1.0 ba · 1,012 sqft · SingleFamily public records · 71 Days on market

Built 1920 4,791 sqft lot $49/sqft · 23% below area Est $65k · 23% under ↓ 17% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity in Waycross! This property offers a solid footprint and plenty of potential for the right buyer. Ideal for investors or those looking to renovate and add value. Features a spacious layout and is ready for updates to make it your own. Sold as-is.

Key facts

• 4,791 sq ft lot
• 2 parking spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($938 rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 5.1% in Waycross — 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 55/100 on livability (#519 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D-, crime F.
• Ware County (town): math 27% / reading 35% proficiency, ranked #95 of 174 in GA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 143 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 45 units permitted in Ware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Ware County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.88% ✓
• Cap rate: 16.54%
• Cash-on-cash: 36.59%
• DSCR: 2.63
• GRM: 4.4

CMA / ARV

• ARV (median comp): $65,185
• List price: $49,900
• Delta: -23.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1208 Margaret	0.35mi	2/2.0	944 (-7%)	4mo	$90,000	$95	66
1214 Jane St	0.50mi	2/1.0	896 (-12%)	9mo	$114,500	$128	50
1107 Elizabeth St	0.50mi	3/1.0 (+1)	1,079 (+7%)	18mo	$65,000	$60	46
1113 Carswell Ave	0.73mi	2/2.0	1,120 (+11%)	13mo	$63,000	$56	33
1601 Montgomery St	0.69mi	3/2.0 (+1)	1,152 (+14%)	12mo	$19,500	$17	26
502 Garlington Ave	0.72mi	2/1.0	1,144 (+13%)	23mo	$59,000	$52	25

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.4%
• Equity multiple: 2.36×
• Total profit: $19,045
• Equity at exit: $7,440

10-year hold

• IRR: 39.4%
• Equity multiple: 4.69×
• Total profit: $51,509
• Equity at exit: $4,314

Cash invested: $13,972 (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 31503

• Home prices YoY: -24.9%
• Active inventory: 143
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $938 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$32 /mo · $389/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $426

Break-even live

Break-even rent $399

Max offer price $49,900

Occupancy floor 50%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 Brunel St Waycross, GA	1.0	1.0	648	$1,095	$1.69	43d	1	0.69mi
801 Naomi St Waycross, GA	2.0–4.0	1.0–2.0	1109	$750	$0.68	43d	1	1.18mi

Listing history 16 events

1. 2026-06-18
   days on market $49,900 Active 71 DOM
2. 2026-06-17
   days on market $49,900 Active 70 DOM
3. 2026-06-16
   days on market $49,900 Active 69 DOM
4. 2026-06-15
   days on market $49,900 Active 68 DOM
5. 2026-06-13
   days on market $49,900 Active 66 DOM
6. 2026-06-12
   days on market $49,900 Active 65 DOM
7. 2026-06-09
   days on market $49,900 Active 62 DOM
8. 2026-06-08
   days on market $49,900 Active 61 DOM
9. 2026-06-07
   days on market $49,900 Active 60 DOM
10. 2026-06-04
    days on market $49,900 Active 56 DOM
11. 2026-06-02
    days on market $49,900 Active 55 DOM
12. 2026-06-01
    days on market $49,900 Active 54 DOM
13. 2026-05-31
    days on market $49,900 Active 53 DOM
14. 2026-05-31
    days on market $49,900 Active 52 DOM
15. 2026-04-29
    price $49,900 263-char remark

    Show marketing remark (263 chars)

    Great opportunity in Waycross! This property offers a solid footprint and plenty of potential for the right buyer. Ideal for investors or those looking to renovate and add value. Features a spacious layout and is ready for updates to make it your own. Sold as-is.

16. 2026-03-27
    listed $59,900 New 263-char remark

    Show marketing remark (263 chars)

    Great opportunity in Waycross! This property offers a solid footprint and plenty of potential for the right buyer. Ideal for investors or those looking to renovate and add value. Features a spacious layout and is ready for updates to make it your own. 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: $389 · $32/mo
• Projected year-2 tax: $459 · $38/mo
• Expected delta: +$70/yr (+$6/mo · 18.0%)

ⓘ 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 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,255
• − Mortgage interest: −$2,795
• − Property taxes: −$389
• − Insurance: −$250
• − Repairs & maintenance: −$900
• − Management: −$900
• − Depreciation: −$1,452
• Taxable income: $4,569
• Est. tax owed @ 24.0%: −$1,097
• After-tax cash flow: $4,016/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: Ware County
• NCES district ID: 1305430
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -12.00%
• Median HH income: $35,231
• Composite: 25.6/100
• National rank: #7415
• State rank: #95 of 174 in GA

Livability — Waycross

• Score: 55/100
• State rank: #519
• US rank: #23458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waycross, GA
• City population: 36,207
• Population (ZIP): 23,173

Population outlook (Ware County) Hauer SSP2

• Today (2025): 33,313 people
• By 2030: 32,071 · -3.7%
• By 2040: 29,587 · -11.2%
• By 2050: 27,197 · -18.4%
• By 2075: 22,323 · -33.0%
• By 2100: 18,197 · -45.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 21% Hispanic / Latino 7% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 1% Serbian 1% Slovak 1%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Ware

• 2024 margin: Solid R (+43.1) · D 28.3% · R 71.4%
• 2008→2024 swing: -8.7pp toward R · 2008: -34.5pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+40.4 2016: R+41.7 2012: R+33.9 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.44%
• Current HPI: 230.6527
• 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

-16.7% since first listed

2 events — show timeline

• 2026-04-29 Price Changed $49,900 GAMLS
• 2026-03-27 Listed $59,900 GAMLS

Property tax history

+0.8%/yr

Latest (2025): $389 · -2.0% YoY. Source: county tax records.