1115 Indian Creek Rd · Locust Grove, GA 30248

$115,000

3 bd · 2.0 ba · 1,216 sqft · SingleFamily public records · 15 Days on market

Built 1985 2.01 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity is waiting for you at 1115 Indian Creek Road in Locust Grove, GA! Situated on 2.1 acres in unincorporated Henry County, this property offers the freedom of no HOA and is zoned RA (Residential/Agricultural), creating endless possibilities for homeowners and those seeking affordable housing. Conveniently located just minutes from I-75 North and South, Tanger Outlets, grocery stores, restaurants, and everyday conveniences, the location combines accessibility with the privacy of acreage living. How about a garden and a few small animals? You can have that too. This property is being sold as-is with no repairs. It will require improvements. It is an excellent opportunity for investor

Key facts

• 2.1 acres
• Zoned ra
• No hoa

Tags

• NO HOA
• ZONED RA
• 2.1 ACRES
• PRIVACY OF ACREAGE LIVING
• GARDEN AND SMALL ANIMALS

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Off-street parking
• Utilities: Public water available; Septic tank sewer; Electricity available (220 volts); Propane available
• Home design: Manufactured house / single-family manufactured home; Built in 1985; Composition roof; Slab foundation
• Construction: Vinyl siding construction
• Exterior features: Level lot; Wooded vegetation; Public-record lot size 2.01 acres

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Propane heating; Central electric air conditioning
• Interior features: One-level layout; Den; No basement; Public-record living area ~1216; Property marked as fixer
• Laundry & utility: Laundry located in hall

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $808 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 4.1% in Locust Grove — 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 62/100 on livability (#315 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Locust Grove Elementary School (math 12% / reading 17%, grade F, #996 of 1,228 statewide, top 83%, 568 students, 62% FRL); Luella Middle School (math 12% / reading 29%, grade F, #345 of 470 statewide, top 74%, 870 students, 53% FRL); Luella High School (math 12% / reading 22%, grade F, #277 of 424 statewide, top 67%, 1,373 students, 44% FRL).
• Market conditions: Rents rising (+2.2%/yr); 496 active listings in the ZIP; solid renter incomes; 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Henry County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $113,275 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.82% ✓
• Cap rate: 14.72%
• Cash-on-cash: 30.10%
• DSCR: 2.34
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.16% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 1.97×
• Total profit: $31,119
• Equity at exit: $17,147

10-year hold

• IRR: 31.1%
• Equity multiple: 3.69×
• Total profit: $86,524
• Equity at exit: $9,943

Cash invested: $32,200 (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 30248

• Home prices YoY: -21.0%
• Rents YoY: 2.2%
• Active inventory: 496
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,088 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$191 /mo · $2,293/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $808

Break-even live

Break-even rent $1,066

Max offer price $115,000

Occupancy floor 56%

Sensitivity live

Price	-10% $873	-5% $840	+0% $808	+5% $775	+10% $743
Rent	-10% $643	-5% $725	+0% $808	+5% $890	+10% $973
Rate	-1.0pp $866	-0.5pp $837	base $808	+0.5pp $778	+1.0pp $748

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-10
   status $115,000 Under Contract 15 DOM
2. 2026-06-09
   days on market $115,000 Active 15 DOM
3. 2026-06-08
   days on market $115,000 Active 14 DOM
4. 2026-06-07
   days on market $115,000 Active 13 DOM
5. 2026-06-04
   days on market $115,000 Active 10 DOM
6. 2026-06-03
   days on market $115,000 Active 9 DOM
7. 2026-06-02
   days on market $115,000 Active 8 DOM
8. 2026-06-01
   statusdays on market $115,000 Active 7 DOM
9. 2026-05-31
   days on market $115,000 Price Change 6 DOM
10. 2026-05-25
    listed $127,000,000 New

ⓘ 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: $2,293 · $191/mo
• Projected year-2 tax: $2,293 · $191/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 ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $25,060
• − Mortgage interest: −$6,442
• − Property taxes: −$2,293
• − Insurance: −$575
• − Repairs & maintenance: −$2,005
• − Management: −$2,005
• − Depreciation: −$3,345
• Taxable income: $8,395
• Est. tax owed @ 24.0%: −$2,015
• After-tax cash flow: $7,678/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: Henry County
• NCES district ID: 1302820
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $62,594
• Composite: 26.13/100
• National rank: #7279
• State rank: #89 of 174 in GA

Livability — Locust Grove

• Score: 62/100
• State rank: #315
• US rank: #17034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henry County · 316,359 people
• City population: 36,038
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 36,038
• Household income: $83,823
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 485.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 249,041 people
• By 2030: 264,369 · +6.2%
• By 2040: 294,459 · +18.2%
• By 2050: 322,249 · +29.4%
• By 2075: 392,310 · +57.5%
• By 2100: 437,836 · +75.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 51% Black 37% Hispanic / Latino 9% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Slovak 2% Italian 2% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · Henry

• 2024 margin: Strong D (+29.7) · D 64.5% · R 34.9%
• 2008→2024 swing: +37.1pp toward D · 2008: -7.5pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+20.5 2016: D+4.3 2012: R+3.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.09%
• Current HPI: 203.5358
• Rent YoY: ▲ 2.16%
• 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

1 event — show timeline

• 2026-05-25 Listed $127,000,000 GAMLS

Property tax history

+5.1%/yr

Latest (2025): $2,293 · +28.5% YoY. Source: county tax records.