2987 Teamon Rd · Heron Bay, GA 30223

$199,900

3 bd · 1.0 ba · 1,395 sqft · SingleFamily public records · 43 Days on market

Built 1957 2.00 ac lot $143/sqft · 37% below area Est $317k · 37% under

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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
• Cash flow +11.8/30.0
• DSCR +3.5/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOODED AND OPEN LAND, 4 AC. OF ROAD FRONTAGE, THE SALE OF THIS PROPERTY IS CONTINGENT ON THE PURCHASE OF CONNECTING PARCEL #202 01014 A ( 2 AC AND HOME) CALL FOR APPT. OR PLAT

Key facts

• 2-car carport
• Real hardwood floors
• Spacious 2-acre lot

Tags

• SPACIOUS 2-ACRE LOT
• REAL HARDWOOD FLOORS
• 2-CAR CARPORT
• LARGE SHOP
• FENCED-IN BACKYARD

Property features AI

Finance

• Other: 2-acre lot (public records)
• HOA & community: No HOA

Exterior

• Parking: Carport
• Utilities: Public water available; Septic tank sewer; Electricity available
• Home design: Single-family residence (house); Resale property
• Construction: Built in 1957; Vinyl siding; Composition roof
• Exterior features: Porch; Level, open lot

Interior

• Kitchen: Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Hot water heating (natural gas); Ceiling fan cooling
• Interior features: One-level living; Public-record living area 1395; Crawl space basement; Family room
• Laundry & utility: Laundry closet; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-53 ($-641/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (28.2% below list).
• Recommended offer: $144k (28.2% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.2% in Heron Bay — 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 67/100 on livability (#159 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety 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: Jordan Hill Road Elementary School (math 17% / reading 22%, grade F, #878 of 1,228 statewide, top 75%, 356 students, 98% FRL); Kennedy Road Middle School (math 11% / reading 20%, grade F, #392 of 470 statewide, top 84%, 477 students, 98% FRL); Spalding High School (math 11% / reading 25%, grade F, #258 of 424 statewide, top 62%, 1,252 students, 67% FRL) — zoned schools average 88% FRL vs 68% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.3%/yr); 440 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y 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 $36k; list at $200k implies a 448% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 34% 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 $143,581 (28.2% 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 43 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.72% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.14%
• DSCR: 0.95
• GRM: 11.6

CMA / ARV

• ARV (median comp): $316,906
• List price: $199,900
• Delta: -36.92%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3026 Teamon Rd	0.09mi	4/2.0 (+1)	1,350 (-3%)	19mo	$220,000	$163	65
1123 Leconte Ct	0.74mi	3/2.0	1,590 (+14%)	0mo	$346,630	$218	38
60 Smoak Field Rd	0.58mi	3/2.0	1,564 (+12%)	14mo	$297,000	$190	37
1143 Leconte Ct	0.72mi	3/2.0	1,590 (+14%)	15mo	$333,900	$210	26

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: -17.9%
• Equity multiple: 0.37×
• Total profit: $-35,397
• Equity at exit: $29,806

10-year hold

• IRR: -9.7%
• Equity multiple: 0.40×
• Total profit: $-33,561
• Equity at exit: $17,284

Cash invested: $55,972 (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: 440
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,436 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$56 /mo · $673/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $-53

Break-even live

Break-even rent $1,503

Max offer price $190,469

Occupancy floor 99%

Sensitivity live

Price	-10% $60	-5% $3	+0% $-53	+5% $-110	+10% $-167
Rent	-10% $-167	-5% $-110	+0% $-53	+5% $3	+10% $60
Rate	-1.0pp $47	-0.5pp $-3	base $-53	+0.5pp $-105	+1.0pp $-158

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $199,900 Active 43 DOM
2. 2026-06-18
   days on market $199,900 Active 40 DOM
3. 2026-06-17
   days on market $199,900 Active 39 DOM
4. 2026-06-16
   days on market $199,900 Active 38 DOM
5. 2026-06-15
   days on market $199,900 Active 37 DOM
6. 2026-06-13
   statusdays on market $199,900 Active 35 DOM
7. 2026-06-10
   status $199,900 Back On Market 31 DOM
8. 2026-06-04
   status $199,900 Under Contract 31 DOM
9. 2026-06-03
   days on market $199,900 Active 31 DOM
10. 2026-06-02
    days on market $199,900 Active 30 DOM
11. 2026-06-01
    days on market $199,900 Active 29 DOM
12. 2026-05-31
    days on market $199,900 Active 28 DOM
13. 2026-05-02
    listed $205,000 New 880-char remark
14. 2014-11-12
    price $90,000 175-char remark

    Show marketing remark (175 chars)

    WOODED AND OPEN LAND, 4 AC. OF ROAD FRONTAGE, THE SALE OF THIS PROPERTY IS CONTINGENT ON THE PURCHASE OF CONNECTING PARCEL #202 01014 A ( 2 AC AND HOME) CALL FOR APPT. OR PLAT

15. 2014-04-12
    price $36,500

    Show marketing remark (59 chars)

    Located on 2 acres. Nice out Blding. has lots of potential.

16. 2014-03-31
    soldstatus $36,500
17. 2014-03-27
    soldstatus $36,500 Sold

    Show marketing remark (59 chars)

    Located on 2 acres. Nice out Blding. has lots of potential.

18. 2014-03-18
    status Under Contract

    Show marketing remark (59 chars)

    Located on 2 acres. Nice out Blding. has lots of potential.

19. 2014-03-18
    price $47,500

    Show marketing remark (59 chars)

    Located on 2 acres. Nice out Blding. has lots of potential.

20. 2013-07-28
    price $47,500 Reduced

    Show marketing remark (59 chars)

    Located on 2 acres. Nice out Blding. has lots of potential.

21. 2013-07-07
    listed $59,900 New

    Show marketing remark (59 chars)

    Located on 2 acres. Nice out Blding. has lots of potential.

22. 2013-04-24
    historical
23. 2012-06-15
    soldstatus $90,000 Sold 175-char remark

    Show marketing remark (175 chars)

    WOODED AND OPEN LAND, 4 AC. OF ROAD FRONTAGE, THE SALE OF THIS PROPERTY IS CONTINGENT ON THE PURCHASE OF CONNECTING PARCEL #202 01014 A ( 2 AC AND HOME) CALL FOR APPT. OR PLAT

24. 2012-05-17
    historical 175-char remark

    Show marketing remark (175 chars)

    WOODED AND OPEN LAND, 4 AC. OF ROAD FRONTAGE, THE SALE OF THIS PROPERTY IS CONTINGENT ON THE PURCHASE OF CONNECTING PARCEL #202 01014 A ( 2 AC AND HOME) CALL FOR APPT. OR PLAT

25. 2012-05-10
    price $131,300 175-char remark

    Show marketing remark (175 chars)

    WOODED AND OPEN LAND, 4 AC. OF ROAD FRONTAGE, THE SALE OF THIS PROPERTY IS CONTINGENT ON THE PURCHASE OF CONNECTING PARCEL #202 01014 A ( 2 AC AND HOME) CALL FOR APPT. OR PLAT

26. 2012-04-25
    listed $59,900 New
27. 2011-09-16
    listed $131,300 New 175-char remark

    Show marketing remark (175 chars)

    WOODED AND OPEN LAND, 4 AC. OF ROAD FRONTAGE, THE SALE OF THIS PROPERTY IS CONTINGENT ON THE PURCHASE OF CONNECTING PARCEL #202 01014 A ( 2 AC AND HOME) CALL FOR APPT. OR PLAT

ⓘ 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: $673 · $56/mo
• Projected year-2 tax: $1,839 · $153/mo
• Expected delta: +$1,166/yr (+$97/mo · 173.3%)

ⓘ 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 ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 34% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,230
• − Mortgage interest: −$11,198
• − Property taxes: −$673
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$5,815
• Taxable loss: −$4,212
• Est. tax savings @ 24.0%: +$1,011
• After-tax cash flow: $370/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 — Heron Bay

• Score: 67/100
• State rank: #159
• US rank: #10151

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Spalding County · 66,676 people
• 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

+52.2% since first listed

18 events — show timeline

• 2026-06-09 Relisted — GAMLS
• 2026-06-03 Pending — GAMLS
• 2026-05-22 Price Changed $199,900 GAMLS
• 2026-05-02 Listed $205,000 GAMLS
• 2014-11-12 Price Changed $90,000 GAMLS
• 2014-04-12 Price Changed $36,500 GAMLS
• 2014-03-31 Sold (Public Records) $36,500 Public Records
• 2014-03-27 Sold (MLS) $36,500 GAMLS
• 2014-03-18 Pending — GAMLS
• 2014-03-18 Price Changed $47,500 GAMLS
• 2013-07-28 Price Changed $47,500 GAMLS
• 2013-07-07 Listed $59,900 GAMLS
• 2013-04-24 Listing Removed — GAMLS
• 2012-06-15 Sold (MLS) $90,000 GAMLS
• 2012-05-17 Listing Removed — GAMLS
• 2012-05-10 Price Changed $131,300 GAMLS
• 2012-04-25 Listed $59,900 GAMLS
• 2011-09-16 Listed $131,300 GAMLS

Property tax history

+0.1%/yr

Latest (2025): $673 · +0.2% YoY. Source: county tax records.