5209 Ga Highway 32 · Patterson, GA 31557

$279,000

3 bd · 1.5 ba · 2,184 sqft · SingleFamily public records · 165 Days on market

Built 1969 2.00 ac lot $128/sqft · 14% below area Est $402k · 31% under ↓ 5% 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +4.4/30.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Escape to peaceful country living with this inviting 3 bedroom, 2 bath home set on 2 acres in Pierce County. Inside, the home features both a den and a formal living area, offering flexible spaces ideal for large gatherings or quiet evenings at home. The spacious primary bedroom includes an en-suite bath and generous closet space, while two additional bedrooms provide comfort and versatility for family or guests. Other interior features include a galley kitchen with two dining areas, laundry room, and a cozy sunroom. Outside, the attached two car garage leads to a 250 sq ft shop ideal for hobbies or a home office. A large workshop behind the home, complete with an attached porch, offers even more space for projects, hobbies, or entertaining. Just beyond, enjoy a generously sized garden plot with irrigation, ready for your green thumb. Recent updates include a new roof (2024), flooring (2023), and HVAC (2021). Experience the serenity of country living with the convenience of nearby amenities; space to spread out without feeling far from town.

Key facts

• Formal living area
• Two dining areas
• Galley kitchen

Tags

• FORMAL LIVING AREA
• GALLEY KITCHEN
• TWO DINING AREAS
• LAUNDRY ROOM
• COZY SUNROOM
• 250 SQ FT SHOP

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $279k.

Deal economics

• At list price, monthly cash flow is $-730 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (46.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (54.2% below list).
• Recommended offer: $128k (54.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#110 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: crime D+, amenities F, commute F.
• Pierce County (rural): math 52% / reading 51% proficiency, ranked #15 of 174 in GA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Patterson Elementary School (math 71% / reading 50%, grade B-, #123 of 1,228 statewide, top 10%, 476 students, 67% FRL); Pierce County Middle School (math 48% / reading 54%, grade C, #64 of 470 statewide, top 14%, 827 students, 67% FRL); Pierce County High School (math 44% / reading 60%, grade D+, #26 of 424 statewide, top 6%, 1,033 students, 44% FRL).
• Market conditions: 27 active listings in the ZIP; 88 units permitted in Pierce County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,754 (54.2% 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 165 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is D 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: 0.46% ✗
• Cap rate: 3.15%
• Cash-on-cash: -11.21%
• DSCR: 0.50
• GRM: 18.2

CMA / ARV

• ARV (median comp): $402,028
• List price: $279,000
• Delta: -30.60%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 2.35×
• Total profit: $105,355
• Equity at exit: $251,345

10-year hold

• IRR: 15.7%
• Equity multiple: 5.44×
• Total profit: $346,627
• Equity at exit: $542,036

Cash invested: $78,120 (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 31557

• Home prices YoY: 12.8%
• Active inventory: 27
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $1,278 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$160 /mo · $1,920/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-730

Break-even live

Break-even rent $2,202

Max offer price $150,028

Occupancy floor —

Sensitivity live

Price	-10% $-572	-5% $-651	+0% $-730	+5% $-809	+10% $-888
Rent	-10% $-831	-5% $-781	+0% $-730	+5% $-680	+10% $-629
Rate	-1.0pp $-590	-0.5pp $-659	base $-730	+0.5pp $-802	+1.0pp $-876

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-22
   days on market $279,000 Active 165 DOM
2. 2026-06-21
   days on market $279,000 Active 164 DOM
3. 2026-06-21
   days on market $279,000 Active 163 DOM
4. 2026-06-18
   days on market $279,000 Active 161 DOM
5. 2026-06-17
   days on market $279,000 Active 160 DOM
6. 2026-06-16
   days on market $279,000 Active 159 DOM
7. 2026-06-15
   days on market $279,000 Active 158 DOM
8. 2026-06-13
   days on market $279,000 Active 156 DOM
9. 2026-06-12
   days on market $279,000 Active 155 DOM
10. 2026-06-09
    days on market $279,000 Active 152 DOM
11. 2026-06-08
    days on market $279,000 Active 151 DOM
12. 2026-06-07
    days on market $279,000 Active 150 DOM
13. 2026-06-07
    days on market $279,000 Active 149 DOM
14. 2026-06-04
    days on market $279,000 Active 146 DOM
15. 2026-06-02
    days on market $279,000 Active 145 DOM
16. 2026-06-01
    days on market $279,000 Active 144 DOM
17. 2026-05-31
    days on market $279,000 Active 143 DOM
18. 2026-05-31
    days on market $279,000 Active 142 DOM
19. 2026-05-01
    price $279,000 1057-char remark

    Show marketing remark (1058 chars)

    Escape to peaceful country living with this inviting 3 bedroom, 2 bath home set on 2 acres in Pierce County. Inside, the home features both a den and a formal living area, offering flexible spaces ideal for large gatherings or quiet evenings at home. The spacious primary bedroom includes an en-suite bath and generous closet space, while two additional bedrooms provide comfort and versatility for family or guests. Other interior features include a galley kitchen with two dining areas, laundry room, and a cozy sunroom. Outside, the attached two car garage leads to a 250 sq ft shop ideal for hobbies or a home office. A large workshop behind the home, complete with an attached porch, offers even more space for projects, hobbies, or entertaining. Just beyond, enjoy a generously sized garden plot with irrigation, ready for your green thumb. Recent updates include a new roof (2024), flooring (2023), and HVAC (2021). Experience the serenity of country living with the convenience of nearby amenities; space to spread out without feeling far from town.

20. 2026-05-01
    price $279,000 1058-char remark

    Show marketing remark (1058 chars)

    Escape to peaceful country living with this inviting 3 bedroom, 2 bath home set on 2 acres in Pierce County. Inside, the home features both a den and a formal living area, offering flexible spaces ideal for large gatherings or quiet evenings at home. The spacious primary bedroom includes an en-suite bath and generous closet space, while two additional bedrooms provide comfort and versatility for family or guests. Other interior features include a galley kitchen with two dining areas, laundry room, and a cozy sunroom. Outside, the attached two car garage leads to a 250 sq ft shop ideal for hobbies or a home office. A large workshop behind the home, complete with an attached porch, offers even more space for projects, hobbies, or entertaining. Just beyond, enjoy a generously sized garden plot with irrigation, ready for your green thumb. Recent updates include a new roof (2024), flooring (2023), and HVAC (2021). Experience the serenity of country living with the convenience of nearby amenities; space to spread out without feeling far from town.

21. 2026-03-12
    price $289,000 1057-char remark

    Show marketing remark (1058 chars)

    Escape to peaceful country living with this inviting 3 bedroom, 2 bath home set on 2 acres in Pierce County. Inside, the home features both a den and a formal living area, offering flexible spaces ideal for large gatherings or quiet evenings at home. The spacious primary bedroom includes an en-suite bath and generous closet space, while two additional bedrooms provide comfort and versatility for family or guests. Other interior features include a galley kitchen with two dining areas, laundry room, and a cozy sunroom. Outside, the attached two car garage leads to a 250 sq ft shop ideal for hobbies or a home office. A large workshop behind the home, complete with an attached porch, offers even more space for projects, hobbies, or entertaining. Just beyond, enjoy a generously sized garden plot with irrigation, ready for your green thumb. Recent updates include a new roof (2024), flooring (2023), and HVAC (2021). Experience the serenity of country living with the convenience of nearby amenities; space to spread out without feeling far from town.

22. 2026-03-12
    price $289,000 1058-char remark

    Show marketing remark (1058 chars)

    Escape to peaceful country living with this inviting 3 bedroom, 2 bath home set on 2 acres in Pierce County. Inside, the home features both a den and a formal living area, offering flexible spaces ideal for large gatherings or quiet evenings at home. The spacious primary bedroom includes an en-suite bath and generous closet space, while two additional bedrooms provide comfort and versatility for family or guests. Other interior features include a galley kitchen with two dining areas, laundry room, and a cozy sunroom. Outside, the attached two car garage leads to a 250 sq ft shop ideal for hobbies or a home office. A large workshop behind the home, complete with an attached porch, offers even more space for projects, hobbies, or entertaining. Just beyond, enjoy a generously sized garden plot with irrigation, ready for your green thumb. Recent updates include a new roof (2024), flooring (2023), and HVAC (2021). Experience the serenity of country living with the convenience of nearby amenities; space to spread out without feeling far from town.

23. 2026-01-08
    listed $295,000 Active 1057-char remark

    Show marketing remark (1057 chars)

    Escape to peaceful country living with this inviting 3 bedroom, 2 bath home set on 2 acres in Pierce County. Inside, the home features both a den and a formal living area, offering flexible spaces ideal for large gatherings or quiet evenings at home. The spacious primary bedroom includes an en-suite bath and generous closet space, while two additional bedrooms provide comfort and versatility for family or guests. Other interior features include a galley kitchen with two dining areas, laundry room, and a cozy sunroom. Outside, the attached two car garage leads to a 250 sq ft shop ideal for hobbies or a home office. A large workshop behind the home, complete with an attached porch, offers even more space for projects, hobbies, or entertaining. Just beyond, enjoy a generously sized garden plot with irrigation, ready for your green thumb. Recent updates include a new roof (2024), flooring (2023), and HVAC (2021). Experience the serenity of country living with the convenience of nearby amenities; space to spread out without feeling far from town.

24. 2026-01-02
    listed $295,000 New 1058-char remark

    Show marketing remark (1058 chars)

    Escape to peaceful country living with this inviting 3 bedroom, 2 bath home set on 2 acres in Pierce County. Inside, the home features both a den and a formal living area, offering flexible spaces ideal for large gatherings or quiet evenings at home. The spacious primary bedroom includes an en-suite bath and generous closet space, while two additional bedrooms provide comfort and versatility for family or guests. Other interior features include a galley kitchen with two dining areas, laundry room, and a cozy sunroom. Outside, the attached two car garage leads to a 250 sq ft shop ideal for hobbies or a home office. A large workshop behind the home, complete with an attached porch, offers even more space for projects, hobbies, or entertaining. Just beyond, enjoy a generously sized garden plot with irrigation, ready for your green thumb. Recent updates include a new roof (2024), flooring (2023), and HVAC (2021). Experience the serenity of country living with the convenience of nearby amenities; space to spread out without feeling far from town.

ⓘ 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: $1,920 · $160/mo
• Projected year-2 tax: $2,567 · $214/mo
• Expected delta: +$647/yr (+$54/mo · 33.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,330
• − Mortgage interest: −$15,628
• − Property taxes: −$1,920
• − Insurance: −$1,395
• − Repairs & maintenance: −$1,226
• − Management: −$1,226
• − Depreciation: −$8,116
• Taxable loss: −$14,182
• Est. tax savings @ 24.0%: +$3,404
• After-tax cash flow: $-5,357/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: Pierce County
• NCES district ID: 1304140
• Math proficiency: 52% ▼ -12.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $39,523
• Composite: 43.04/100
• National rank: #3097
• State rank: #15 of 174 in GA

Livability — Patterson

• Score: 69/100
• State rank: #110
• US rank: #8413

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,717

Population outlook (Pierce County) Hauer SSP2

• Today (2025): 19,690 people
• By 2030: 19,886 · +1.0%
• By 2040: 20,140 · +2.3%
• By 2050: 20,113 · +2.1%
• By 2075: 19,166 · -2.7%
• By 2100: 16,296 · -17.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 20% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1% Slovak 1% Hungarian 1%
• Foreign-born: 1% · Canada, Dominican Republic
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Pierce

• 2024 margin: Solid R (+77.5) · D 11.2% · R 88.7%
• 2008→2024 swing: -15.0pp toward R · 2008: -62.5pp · 2024: -77.5pp
• All cycles: 2024: R+77.5 2020: R+75.1 2016: R+74.0 2012: R+66.4 2008: R+62.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 32.95%
• Current HPI: 289.3963
• 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

-5.4% since first listed

6 events — show timeline

• 2026-05-01 Price Changed $279,000 GIAR
• 2026-05-01 Price Changed $279,000 GAMLS
• 2026-03-12 Price Changed $289,000 GIAR
• 2026-03-12 Price Changed $289,000 GAMLS
• 2026-01-08 Listed $295,000 GIAR
• 2026-01-02 Listed $295,000 GAMLS

Property tax history

+8.2%/yr

Latest (2025): $1,920 · +7.1% YoY. Source: county tax records.