197 Turkey Court Trl · Gay, GA 30222

$135,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 96 Days on market

Built 1998 3.08 ac lot $108/sqft · 45% below area Est $245k · 45% under ↓ 8% since listing

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Why this score? — see what drove the C- 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
• Cash flow +11.8/30.0
• Appreciation +10.0/10.0
• DSCR +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +1.7/10.0

Listing remarks MLS

Opportunity awaits on this 3.08-acre cul-de-sac property in Greenville, GA! This property features a 1,248 sq ft manufactured home situated at the end of a quiet cul-de-sac, offering privacy and a peaceful setting surrounded by nature. This home offers great potential for a buyer looking to add their personal touch. If you're looking for room to spread out, investment potential, or land for a future home, this property is full of opportunity.

Key facts

• 3.08 acre lot
• Built 1998
• Listed 95 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $-38 ($-451/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (27.3% below list).
• Recommended offer: $98k (27.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#201 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, employment A, housing A-; Watch: schools F, amenities F, commute F.
• Meriwether County (rural): math 18% / reading 22% proficiency, ranked #144 of 174 in GA (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 43 active listings in the ZIP; 180 units permitted in Meriwether County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Meriwether County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $57k; list at $135k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 47% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,165 (27.3% 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 96 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
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 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?
6. 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.
7. 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.
8. 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: 0.73% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.19%
• DSCR: 0.95
• GRM: 11.5

CMA / ARV

• ARV (median comp): $245,002
• List price: $135,000
• Delta: -44.90%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 23.4%
• Equity multiple: 2.88×
• Total profit: $71,070
• Equity at exit: $121,619

10-year hold

• IRR: 20.8%
• Equity multiple: 6.58×
• Total profit: $211,056
• Equity at exit: $262,275

Cash invested: $37,800 (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 30222

• Home prices YoY: 35.0%
• Active inventory: 43
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $982 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$49 /mo · $587/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $-38

Break-even live

Break-even rent $1,029

Max offer price $128,354

Occupancy floor 99%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $135,000 Active 96 DOM
2. 2026-06-18
   days on market $135,000 Active 95 DOM
3. 2026-06-17
   days on market $135,000 Active 94 DOM
4. 2026-06-16
   days on market $135,000 Active 93 DOM
5. 2026-06-15
   days on market $135,000 Active 92 DOM
6. 2026-06-14
   days on market $135,000 Active 90 DOM
7. 2026-06-12
   days on market $135,000 Active 89 DOM
8. 2026-06-09
   days on market $135,000 Active 86 DOM
9. 2026-06-08
   days on market $135,000 Active 85 DOM
10. 2026-06-07
    days on market $135,000 Active 84 DOM
11. 2026-06-05
    days on market $135,000 Active 81 DOM
12. 2026-06-03
    days on market $135,000 Active 80 DOM
13. 2026-06-02
    days on market $135,000 Active 79 DOM
14. 2026-06-01
    days on market $135,000 Active 78 DOM
15. 2026-05-31
    days on market $135,000 Active 77 DOM
16. 2026-05-30
    days on market $135,000 Active 76 DOM
17. 2026-05-05
    price $135,000 447-char remark

    Show marketing remark (447 chars)

    Opportunity awaits on this 3.08-acre cul-de-sac property in Greenville, GA! This property features a 1,248 sq ft manufactured home situated at the end of a quiet cul-de-sac, offering privacy and a peaceful setting surrounded by nature. This home offers great potential for a buyer looking to add their personal touch. If you're looking for room to spread out, investment potential, or land for a future home, this property is full of opportunity.

18. 2026-04-09
    price $160,000 447-char remark

    Show marketing remark (447 chars)

    Opportunity awaits on this 3.08-acre cul-de-sac property in Greenville, GA! This property features a 1,248 sq ft manufactured home situated at the end of a quiet cul-de-sac, offering privacy and a peaceful setting surrounded by nature. This home offers great potential for a buyer looking to add their personal touch. If you're looking for room to spread out, investment potential, or land for a future home, this property is full of opportunity.

19. 2026-03-15
    listed $165,000 New 447-char remark

    Show marketing remark (447 chars)

    Opportunity awaits on this 3.08-acre cul-de-sac property in Greenville, GA! This property features a 1,248 sq ft manufactured home situated at the end of a quiet cul-de-sac, offering privacy and a peaceful setting surrounded by nature. This home offers great potential for a buyer looking to add their personal touch. If you're looking for room to spread out, investment potential, or land for a future home, this property is full of opportunity.

20. 2026-03-14
    historical $165,000 447-char remark

    Show marketing remark (447 chars)

    Opportunity awaits on this 3.08-acre cul-de-sac property in Greenville, GA! This property features a 1,248 sq ft manufactured home situated at the end of a quiet cul-de-sac, offering privacy and a peaceful setting surrounded by nature. This home offers great potential for a buyer looking to add their personal touch. If you're looking for room to spread out, investment potential, or land for a future home, this property is full of opportunity.

21. 2017-07-23
    historical
22. 2017-07-21
    listed $23,800 New
23. 2007-01-11
    soldstatus $57,000
24. 2006-01-30
    soldstatus $32,500
25. 1996-03-08
    soldstatus $146,040

ⓘ 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: $587 · $49/mo
• Projected year-2 tax: $1,242 · $104/mo
• Expected delta: +$655/yr (+$55/mo · 111.6%)

ⓘ 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 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 47% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,780
• − Mortgage interest: −$7,562
• − Property taxes: −$587
• − Insurance: −$675
• − Repairs & maintenance: −$942
• − Management: −$942
• − Depreciation: −$3,927
• Taxable loss: −$2,856
• Est. tax savings @ 24.0%: +$686
• After-tax cash flow: $234/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: Meriwether County
• NCES district ID: 1303630
• Math proficiency: 18% ▼ -11.00%
• Reading proficiency: 22% ▼ -6.00%
• Median HH income: $36,287
• Composite: 16.59/100
• National rank: #9175
• State rank: #144 of 174 in GA

Livability — Gay

• Score: 66/100
• State rank: #201
• US rank: #12302

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,219

Population outlook (Meriwether County) Hauer SSP2

• Today (2025): 19,554 people
• By 2030: 18,482 · -5.5%
• By 2040: 16,204 · -17.1%
• By 2050: 14,030 · -28.2%
• By 2075: 9,539 · -51.2%
• By 2100: 6,136 · -68.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (52%)
• Race & ethnicity: White 52% Black 44% Two or more races 2%
• Common ancestry: Italian 13% Russian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Meriwether

• 2024 margin: Strong R (+25.5) · D 37.1% · R 62.6%
• 2008→2024 swing: -20.0pp toward R · 2008: -5.4pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+20.6 2016: R+15.4 2012: R+5.7 2008: R+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 110.39%
• Current HPI: 426.1094
• 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

-7.6% since first listed

9 events — show timeline

• 2026-05-05 Price Changed $135,000 GAMLS
• 2026-04-09 Price Changed $160,000 GAMLS
• 2026-03-15 Listed $165,000 GAMLS
• 2026-03-14 Coming Soon $165,000 GAMLS
• 2017-07-23 Listing Removed — GAMLS
• 2017-07-21 Listed $23,800 GAMLS
• 2007-01-11 Sold (Public Records) $57,000 Public Records
• 2006-01-30 Sold (Public Records) $32,500 Public Records
• 1996-03-08 Sold (Public Records) $146,040 Public Records

Property tax history

+0.9%/yr

Latest (2025): $587 · +1.5% YoY. Source: county tax records.