119 Short St · Griffin, GA 30223

$94,999

3 bd · 1.0 ba · 987 sqft · SingleFamily public records · 17 Days on market

Built 1956 9,583 sqft lot Est $119k · 20% under

---

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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +7.0/10.0
• Rent growth +3.3/5.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property presents a strong investment opportunity located in an established area of Griffin. The home features a traditional layout with multiple living spaces and offers significant potential for renovation and value improvement. This home will be suited for investors, flippers, or buyers looking to customize a property to their specifications. This property will likely not qualify for traditional financing. Conveniently situated near downtown Griffin, shopping, dining, schools, and major roadways.

Key facts

• 9,583 sq ft lot
• Built 1956
• Listed 16 days

Tags

• MULTIPLE LIVING SPACES
• POTENTIAL FOR RENOVATION

Property features AI

Exterior

• Parking: Driveway parking; Open parking available
• Utilities: Water: other; Electric: other; Sewer: other; Other utilities
• Home design: One-story property; Resale property
• Construction: Aluminum siding; Composition roof; Slab foundation; Built on 0.22 acre (per legal description)
• Exterior features: Located on a county road; Directions available

Interior

• Kitchen: Cabinet stain; Other surface counters; Kitchen open to or views the family room; Electric range; Refrigerator
• Bedrooms: Three main-level bedrooms; Bedrooms with unspecified/other features
• Flooring: Other flooring
• Bathrooms: One full bathroom on the main level; Master bathroom: none
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floor plan with family room; No shared/common walls; Other interior features
• Laundry & utility: Laundry features: other

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 4.3% in Griffin — 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 54/100 on livability (#529 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Griffin-Spalding County (suburban): math 13% / reading 19% proficiency, ranked #151 of 174 in GA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cowan Road Middle School (math 8% / reading 14%, grade F, #426 of 470 statewide, top 91%, 543 students, 98% FRL); Spalding High School (math 11% / reading 25%, grade F, #258 of 424 statewide, top 62%, 1,252 students, 67% FRL).
• Market conditions: Rents rising (+3.3%/yr); 427 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 342 units permitted in Spalding County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Spalding County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 35% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,574 (1.5% below list)

Questions for the listing agent

1. Built in 1956 — 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: 1.20% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.85%
• DSCR: 1.57
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $119,427
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1524 N Hill St	0.11mi	3/1.0	1,026 (+4%)	0mo	$39,000	$38	88
1309 Ridgeview Dr	0.51mi	3/1.0	840 (-15%)	15mo	$67,000	$80	38
1318 N 9th St	0.72mi	3/2.0	903 (-8%)	16mo	$180,000	$199	35
402 Springview Dr	0.50mi	3/1.0	840 (-15%)	21mo	$102,000	$121	34

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 · 3.34% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.12×
• Total profit: $3,130
• Equity at exit: $14,165

10-year hold

• IRR: 12.9%
• Equity multiple: 2.04×
• Total profit: $27,674
• Equity at exit: $8,214

Cash invested: $26,600 (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 30223

• Rents YoY: 3.3%
• Active inventory: 427
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,142 high
• Mortgage (P&I): −$498
• Tax from tax record: −$80 /mo · $960/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $285

Break-even live

Break-even rent $782

Max offer price $94,999

Occupancy floor 70%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1313 Ridgeview Dr Griffin, GA	3.0	1.0	840	$1,050	$1.25	24d	1	0.51mi
214 Kentucky Ave Unit D Griffin, GA	2.0	1.0	700	$1,050	$1.50	5d	1	0.83mi
117 Blanton Ave Unit A Griffin, GA	2.0	1.0	718	$975	$1.36	24d	1	0.92mi
816 Lane St Griffin, GA	3.0	2.0	1120	$1,300	$1.16	44d	1	0.93mi
804 N 8th St Griffin, GA	2.0	1.0	600	$750	$1.25	1d	30	0.96mi
212 Alabama St Griffin, GA	2.0	1.0	728	$995	$1.37	44d	1	1.10mi
205 W Cherry St Griffin, GA	2.0	1.0	972	$950	$0.98	3d	1	1.28mi
503 Wheeler St Griffin, GA	2.0	1.0	1028	$1,250	$1.22	44d	1	1.38mi
413 N Hill St Unit B Griffin, GA	2.0	1.0	792	$875	$1.10	4d	1	1.38mi
708 Ellis St Griffin, GA	2.0	1.0	768	$1,000	$1.30	3d	1	1.46mi
317 N 4th St Griffin, GA	2.0	1.0	760	$1,000	$1.32	24d	1	1.47mi
620 Dobbins Mill Rd Unit 620 Griffin, GA	2.0	1.0	885	$975	$1.10	44d	1	1.47mi

Listing history 13 events

1. 2026-06-18
   days on market $94,999 Active 17 DOM
2. 2026-06-17
   price $94,999 Active 16 DOM
3. 2026-06-17
   days on market $99,999 Active 16 DOM
4. 2026-06-16
   days on market $99,999 Active 15 DOM
5. 2026-06-15
   days on market $99,999 Active 14 DOM
6. 2026-06-13
   days on market $99,999 Active 12 DOM
7. 2026-06-09
   days on market $99,999 Active 8 DOM
8. 2026-06-08
   days on market $99,999 Active 7 DOM
9. 2026-06-07
   days on market $99,999 Active 6 DOM
10. 2026-06-04
    days on market $99,999 Active 3 DOM
11. 2026-06-03
    days on market $99,999 Active 2 DOM
12. 2026-06-02
    remarks 509-char remark
13. 2026-06-02
    listed $99,999 Active 1 DOM

ⓘ 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: $960 · $80/mo
• Projected year-2 tax: $960 · $80/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 35% 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: $13,710
• − Mortgage interest: −$5,321
• − Property taxes: −$960
• − Insurance: −$475
• − Repairs & maintenance: −$1,097
• − Management: −$1,097
• − Depreciation: −$2,764
• Taxable income: $1,996
• Est. tax owed @ 24.0%: −$479
• After-tax cash flow: $2,938/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: Griffin-Spalding County
• NCES district ID: 1302520
• Math proficiency: 13% ▼ -13.00%
• Reading proficiency: 19% ▼ -12.00%
• Median HH income: $40,895
• Composite: 13.71/100
• National rank: #9496
• State rank: #151 of 174 in GA

Livability — Griffin

• Score: 54/100
• State rank: #529
• US rank: #23746

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Griffin, GA
• County: Spalding County · 66,676 people
• City population: 28,414
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 38,262
• Household income: $59,054
• Rent vs Own: 39.5% rent · 60.5% own
• Severe rent burden: 1297.0

Population outlook (Spalding County) Hauer SSP2

• Today (2025): 63,015 people
• By 2030: 61,689 · -2.1%
• By 2040: 57,932 · -8.1%
• By 2050: 53,474 · -15.1%
• By 2075: 43,228 · -31.4%
• By 2100: 32,290 · -48.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 6% Korean 1%

Political lean MEDSL · Spalding

• 2024 margin: R (+16.7) · D 41.4% · R 58.1%
• 2008→2024 swing: +2.1pp toward D · 2008: -18.8pp · 2024: -16.7pp
• All cycles: 2024: R+16.7 2020: R+20.8 2016: R+24.2 2012: R+20.0 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.92%
• Current HPI: 225.7933
• Rent YoY: ▲ 3.34%
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• 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

+1049.4% since first listed

4 events — show timeline

• 2026-05-29 Listed $99,999 GAMLS
• 2026-05-29 Listed $99,999 FMLS
• 2021-09-29 Sold (Public Records) $152,251 Public Records
• 2007-05-18 Sold (Public Records) $8,700 Public Records

Property tax history

+3.2%/yr

Latest (2025): $960 · +15.1% YoY. Source: county tax records.