120 Blair Ridge Rd · Dahlonega, GA 30533

$785,000

16 bd · 4.0 ba · 2,880 sqft · MultiFamily public records · 196 Days on market

Built 1989 7.26 ac lot

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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 +14.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Incredible investment opportunity in a highly sought-after area of North Georgia! This unique, cash-flowing portfolio features a mix of single wide trailers and a quadplex, all situated on a scenic mountain ridge with breathtaking views of a wooded valley and seasonal mountain landscapes. The quadplex includes two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, catering to a variety of tenants, including both University of North Georgia students and local residents. The single wide trailers are conveniently located next to each other on a sprawling 6-acre lot, providing ample space and privacy. All units are served by a single well and use a shared community dumpster for added convenience. With strong rental demand in this rapidly growing area, this portfolio is a rare find for investors seeking steady income and long-term appreciation. Don’t miss your chance to own a piece of North Georgia’s booming rental market! Close to UNG, Downtown and Lumpkin County Schools.

Key facts

• Breathtaking views
• Strong rental demand
• Wooded valley

Tags

• HIGHLY SOUGHT-AFTER AREA
• SCENIC MOUNTAIN RIDGE
• BREATHTAKING VIEWS
• WOODED VALLEY
• SPRAWLING LOT
• STRONG RENTAL DEMAND

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $785k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive. Per door: $36/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $608k (22.6% below list).
• Recommended offer: $608k (22.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.1% in Dahlonega — 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 65/100 on livability (#241 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+; Watch: schools D+, employment D, housing D.
• Lumpkin County (rural): math 38% / reading 45% proficiency, ranked #41 of 174 in GA (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 378 active listings in the ZIP; 277 units permitted in Lumpkin County in 2024 (0 in 5+ unit buildings).
• At $6,076/mo this rent would consume 98% of the median local household income ($74k/yr) (locally 710% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Lumpkin County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($691k) is reasonable based on typical stale-listing flexibility.
• 25 sale attempts since 4y ago 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 $530k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $607,600 (22.6% below list)

Questions for the listing agent

1. It's been on market 196 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 10.8

CMA / ARV

• ARV (median comp): $320,510
• List price: $785,000
• Delta: 144.92%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.1%
• Equity multiple: 0.46×
• Total profit: $-118,390
• Equity at exit: $117,046

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-92,800
• Equity at exit: $67,872

Cash invested: $219,800 (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 30533

• Home prices YoY: -3.3%
• Active inventory: 378
• Price-to-rent: 41.2×

Monthly cashflow live

• Estimated rent: $6,076 medium
• Mortgage (P&I): −$4,117
• Tax from tax record: −$212 /mo · $2,544/yr
• Insurance: −$327
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,276
• Net cashflow: $144

Break-even live

Break-even rent $5,893

Max offer price $785,000

Occupancy floor 93%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,180
▸ 2× units	1	1	$2,896
Total (4 units)			$6,076

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: $196,250
• Closing costs: $23,550
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $785,000 Active 196 DOM
2. 2026-06-17
   days on market $785,000 Active 195 DOM
3. 2026-06-16
   days on market $785,000 Active 194 DOM
4. 2026-06-15
   days on market $785,000 Active 193 DOM
5. 2026-06-14
   days on market $785,000 Active 191 DOM
6. 2026-06-10
   days on market $785,000 Active 188 DOM
7. 2026-06-09
   days on market $785,000 Active 187 DOM
8. 2026-06-08
   days on market $785,000 Active 186 DOM
9. 2026-06-07
   days on market $785,000 Active 185 DOM
10. 2026-06-05
    days on market $785,000 Active 182 DOM
11. 2026-06-03
    days on market $785,000 Active 181 DOM
12. 2026-06-02
    days on market $785,000 Active 180 DOM
13. 2026-05-31
    days on market $785,000 Active 179 DOM
14. 2026-05-31
    days on market $785,000 Active 178 DOM
15. 2026-03-01
    status Active 999-char remark

    Show marketing remark (999 chars)

    Incredible investment opportunity in a highly sought-after area of North Georgia! This unique, cash-flowing portfolio features a mix of single wide trailers and a quadplex, all situated on a scenic mountain ridge with breathtaking views of a wooded valley and seasonal mountain landscapes. The quadplex includes two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, catering to a variety of tenants, including both University of North Georgia students and local residents. The single wide trailers are conveniently located next to each other on a sprawling 6-acre lot, providing ample space and privacy. All units are served by a single well and use a shared community dumpster for added convenience. With strong rental demand in this rapidly growing area, this portfolio is a rare find for investors seeking steady income and long-term appreciation. Don’t miss your chance to own a piece of North Georgia’s booming rental market! Close to UNG, Downtown and Lumpkin County Schools.

16. 2026-02-28
    historical 999-char remark

    Show marketing remark (999 chars)

    Incredible investment opportunity in a highly sought-after area of North Georgia! This unique, cash-flowing portfolio features a mix of single wide trailers and a quadplex, all situated on a scenic mountain ridge with breathtaking views of a wooded valley and seasonal mountain landscapes. The quadplex includes two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, catering to a variety of tenants, including both University of North Georgia students and local residents. The single wide trailers are conveniently located next to each other on a sprawling 6-acre lot, providing ample space and privacy. All units are served by a single well and use a shared community dumpster for added convenience. With strong rental demand in this rapidly growing area, this portfolio is a rare find for investors seeking steady income and long-term appreciation. Don’t miss your chance to own a piece of North Georgia’s booming rental market! Close to UNG, Downtown and Lumpkin County Schools.

17. 2026-02-03
    status Back On Market 987-char remark

    Show marketing remark (987 chars)

    Incredible investment opportunity in a highly sought-after area of North Georgia! This unique, cash-flowing portfolio features a mix of single wide trailers and a quadplex, all situated on a scenic mountain ridge with breathtaking views of a wooded valley and seasonal mountain landscapes. The quadplex includes two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, catering to a variety of tenants, including both University of North Georgia students and local residents. The single wide trailers are conveniently located next to each other on a sprawling 6-acre lot, providing ample space and privacy. All units are served by a single well and use a shared community dumpster for added convenience. With strong rental demand in this rapidly growing area, this portfolio is a rare find for investors seeking steady income and long-term appreciation. Don't miss your chance to own a piece of North Georgia's booming rental market! Close to UNG, Downtown and Lumpkin County Schools.

18. 2026-02-01
    status Active 999-char remark

    Show marketing remark (999 chars)

    Incredible investment opportunity in a highly sought-after area of North Georgia! This unique, cash-flowing portfolio features a mix of single wide trailers and a quadplex, all situated on a scenic mountain ridge with breathtaking views of a wooded valley and seasonal mountain landscapes. The quadplex includes two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, catering to a variety of tenants, including both University of North Georgia students and local residents. The single wide trailers are conveniently located next to each other on a sprawling 6-acre lot, providing ample space and privacy. All units are served by a single well and use a shared community dumpster for added convenience. With strong rental demand in this rapidly growing area, this portfolio is a rare find for investors seeking steady income and long-term appreciation. Don’t miss your chance to own a piece of North Georgia’s booming rental market! Close to UNG, Downtown and Lumpkin County Schools.

19. 2026-01-31
    historical 999-char remark

    Show marketing remark (987 chars)

    Incredible investment opportunity in a highly sought-after area of North Georgia! This unique, cash-flowing portfolio features a mix of single wide trailers and a quadplex, all situated on a scenic mountain ridge with breathtaking views of a wooded valley and seasonal mountain landscapes. The quadplex includes two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, catering to a variety of tenants, including both University of North Georgia students and local residents. The single wide trailers are conveniently located next to each other on a sprawling 6-acre lot, providing ample space and privacy. All units are served by a single well and use a shared community dumpster for added convenience. With strong rental demand in this rapidly growing area, this portfolio is a rare find for investors seeking steady income and long-term appreciation. Don't miss your chance to own a piece of North Georgia's booming rental market! Close to UNG, Downtown and Lumpkin County Schools.

20. 2026-01-31
    historical 987-char remark

    Show marketing remark (987 chars)

    Incredible investment opportunity in a highly sought-after area of North Georgia! This unique, cash-flowing portfolio features a mix of single wide trailers and a quadplex, all situated on a scenic mountain ridge with breathtaking views of a wooded valley and seasonal mountain landscapes. The quadplex includes two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, catering to a variety of tenants, including both University of North Georgia students and local residents. The single wide trailers are conveniently located next to each other on a sprawling 6-acre lot, providing ample space and privacy. All units are served by a single well and use a shared community dumpster for added convenience. With strong rental demand in this rapidly growing area, this portfolio is a rare find for investors seeking steady income and long-term appreciation. Don't miss your chance to own a piece of North Georgia's booming rental market! Close to UNG, Downtown and Lumpkin County Schools.

21. 2025-12-01
    listed $785,000 Active 999-char remark

    Show marketing remark (987 chars)

    Incredible investment opportunity in a highly sought-after area of North Georgia! This unique, cash-flowing portfolio features a mix of single wide trailers and a quadplex, all situated on a scenic mountain ridge with breathtaking views of a wooded valley and seasonal mountain landscapes. The quadplex includes two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, catering to a variety of tenants, including both University of North Georgia students and local residents. The single wide trailers are conveniently located next to each other on a sprawling 6-acre lot, providing ample space and privacy. All units are served by a single well and use a shared community dumpster for added convenience. With strong rental demand in this rapidly growing area, this portfolio is a rare find for investors seeking steady income and long-term appreciation. Don't miss your chance to own a piece of North Georgia's booming rental market! Close to UNG, Downtown and Lumpkin County Schools.

22. 2025-12-01
    listed $785,000 New 987-char remark

    Show marketing remark (987 chars)

    Incredible investment opportunity in a highly sought-after area of North Georgia! This unique, cash-flowing portfolio features a mix of single wide trailers and a quadplex, all situated on a scenic mountain ridge with breathtaking views of a wooded valley and seasonal mountain landscapes. The quadplex includes two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, catering to a variety of tenants, including both University of North Georgia students and local residents. The single wide trailers are conveniently located next to each other on a sprawling 6-acre lot, providing ample space and privacy. All units are served by a single well and use a shared community dumpster for added convenience. With strong rental demand in this rapidly growing area, this portfolio is a rare find for investors seeking steady income and long-term appreciation. Don't miss your chance to own a piece of North Georgia's booming rental market! Close to UNG, Downtown and Lumpkin County Schools.

23. 2025-12-01
    historical

    Show marketing remark (987 chars)

    Incredible investment opportunity in a highly sought-after area of North Georgia! This unique, cash-flowing portfolio features a mix of single wide trailers and a quadplex, all situated on a scenic mountain ridge with breathtaking views of a wooded valley and seasonal mountain landscapes. The quadplex includes two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, catering to a variety of tenants, including both University of North Georgia students and local residents. The single wide trailers are conveniently located next to each other on a sprawling 6-acre lot, providing ample space and privacy. All units are served by a single well and use a shared community dumpster for added convenience. With strong rental demand in this rapidly growing area, this portfolio is a rare find for investors seeking steady income and long-term appreciation. Don't miss your chance to own a piece of North Georgia's booming rental market! Close to UNG, Downtown and Lumpkin County Schools.

24. 2025-11-06
    listed $295,000 New
25. 2025-10-29
    status Active
26. 2025-10-20
    listed $295,000 Active
27. 2025-08-31
    historical
28. 2025-07-31
    historical
29. 2025-07-08
    listed $1,200,000 New
30. 2025-06-24
    price $1,200,000
31. 2025-06-15
    status Active
32. 2025-05-31
    historical
33. 2025-05-31
    historical
34. 2025-05-11
    historical $1,100
35. 2025-05-03
    listed $1,100
36. 2025-04-15
    price $1,150,000
37. 2025-04-15
    price $1,150,000
38. 2025-04-03
    historical $850
39. 2025-04-02
    listed $1,200,000 New
40. 2025-04-01
    status Active
41. 2025-04-01
    listed $850
42. 2025-04-01
    historical $850
43. 2025-03-31
    historical
44. 2025-03-28
    listed $850
45. 2025-03-28
    historical $850
46. 2025-03-20
    listed $850
47. 2025-03-06
    status Active
48. 2025-02-28
    historical
49. 2025-02-03
    status Active
50. 2025-01-31
    historical

ⓘ 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: $2,544 · $212/mo
• Projected year-2 tax: $7,222 · $602/mo
• Expected delta: +$4,678/yr (+$390/mo · 183.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,912
• − Mortgage interest: −$43,972
• − Property taxes: −$2,544
• − Insurance: −$3,925
• − Repairs & maintenance: −$5,833
• − Management: −$5,833
• − Depreciation: −$22,836
• Taxable loss: −$12,031
• Est. tax savings @ 24.0%: +$2,887
• After-tax cash flow: $4,620/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: Lumpkin County
• NCES district ID: 1303420
• Math proficiency: 38% ▼ -10.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $43,380
• Composite: 35.08/100
• National rank: #5023
• State rank: #41 of 174 in GA

Livability — Dahlonega

• Score: 65/100
• State rank: #241
• US rank: #13603

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lumpkin County · 28,049 people
• City population: 28,049
• Metro: nan
• Population (ZIP): 28,049
• Household income: $74,035
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 710.0

Population outlook (Lumpkin County) Hauer SSP2

• Today (2025): 33,244 people
• By 2030: 34,108 · +2.6%
• By 2040: 35,346 · +6.3%
• By 2050: 36,017 · +8.3%
• By 2075: 38,305 · +15.2%
• By 2100: 38,739 · +16.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Italian 3% Serbian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Lumpkin

• 2024 margin: Solid R (+61.7) · D 18.9% · R 80.5%
• 2008→2024 swing: -9.8pp toward R · 2008: -51.8pp · 2024: -61.7pp
• All cycles: 2024: R+61.7 2020: R+58.2 2016: R+60.0 2012: R+60.5 2008: R+51.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.95%
• Current HPI: 316.4948
• Rent YoY: —
• Metro: nan
• 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

+161.8% since first listed

51 events — show timeline

• 2026-03-01 Relisted — FMLS
• 2026-02-28 Listing Removed — FMLS
• 2026-02-03 Relisted — GAMLS
• 2026-02-01 Relisted — FMLS
• 2026-01-31 Listing Removed — GAMLS
• 2026-01-31 Listing Removed — FMLS
• 2025-12-01 Listing Removed — GAMLS
• 2025-12-01 Listed $785,000 GAMLS
• 2025-12-01 Listed $785,000 FMLS
• 2025-11-06 Listed $295,000 GAMLS
• 2025-10-29 Relisted — FMLS
• 2025-10-20 Listed $295,000 FMLS
• 2025-08-31 Listing Removed — GAMLS
• 2025-07-31 Listing Removed — FMLS
• 2025-07-08 Listed $1,200,000 GAMLS
• 2025-06-24 Price Changed $1,200,000 FMLS
• 2025-06-15 Relisted — FMLS
• 2025-05-31 Listing Removed — GAMLS
• 2025-05-31 Listing Removed — FMLS
• 2025-05-11 Rental Removed $1,100 FMLS
• 2025-05-03 Listed for Rent $1,100 FMLS
• 2025-04-15 Price Changed $1,150,000 GAMLS
• 2025-04-15 Price Changed $1,150,000 FMLS
• 2025-04-03 Rental Removed $850 GAMLS
• 2025-04-02 Listed $1,200,000 GAMLS
• 2025-04-01 Relisted — FMLS
• 2025-04-01 Listed for Rent $850 GAMLS
• 2025-04-01 Rental Removed $850 GAMLS
• 2025-03-31 Listing Removed — FMLS
• 2025-03-28 Listed for Rent $850 GAMLS
• 2025-03-28 Rental Removed $850 FMLS
• 2025-03-20 Listed for Rent $850 FMLS
• 2025-03-06 Relisted — FMLS
• 2025-02-28 Listing Removed — FMLS
• 2025-02-03 Relisted — FMLS
• 2025-01-31 Listing Removed — FMLS
• 2025-01-02 Relisted — FMLS
• 2024-12-31 Listing Removed — FMLS
• 2024-12-02 Relisted — FMLS
• 2024-11-30 Listing Removed — FMLS
• 2024-10-24 Rental Removed $1,000 FMLS
• 2024-10-15 Listed $1,200,000 FMLS
• 2024-10-02 Listed for Rent $1,000 FMLS
• 2024-10-01 Rental Removed $1,000 FMLS
• 2024-08-08 Listed for Rent $1,000 FMLS
• 2023-11-11 Rental Removed $1,000 FMLS
• 2023-10-23 Listed for Rent $1,000 FMLS
• 2022-04-15 Sold (Public Records) $530,000 Public Records
• 2022-04-15 Sold (MLS) $530,000 FMLS
• 2022-04-01 Pending — FMLS
• 2022-03-15 Listed $299,900 FMLS

Property tax history

+6.9%/yr

Latest (2025): $2,544 · +0.6% YoY. Source: county tax records.