631 Jim Grizzle Rd · Franklin Springs, GA 30662

$143,000

3 bd · 2.0 ba · 1,809 sqft · Manufactured public records · 20 Days on market

Built 1998 6.53 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 +24.6/30.0
• Appreciation +10.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

OPEN HOUSE SATURDAY APRIL 11 FROM 12 - 2. Discover the perfect blend of privacy, space, and natural beauty with this 3-bedroom, 2-bath mobile home situated on 6.53 acres, offering endless potential for homeowners, investors, or anyone seeking a peaceful retreat. The property is equipped with a well and septic system for added convenience and self-sufficiency, and features a beautiful river that enhances the serene, scenic setting. Located just minutes from downtown Royston, you'll enjoy easy access to local shops, dining, and amenities while still embracing the quiet charm of country living-making this a unique opportunity you don't want to miss. There are waterfalls and a gorgeous swimming

Key facts

• Swimming area
• 6.53 acres
• Waterfalls

Tags

• 6.53 ACRES
• WELL
• SEPTIC SYSTEM
• RIVER
• WATERFALLS
• SWIMMING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $143k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $143k).
• Recommended offer: $141k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.2% in Franklin Springs — 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 73/100 on livability (#48 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Franklin County (rural): math 38% / reading 35% proficiency, ranked #61 of 174 in GA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Royston Elementary School (math 54% / reading 38%, grade D-, #316 of 1,228 statewide, top 26%, 493 students, 73% FRL); Franklin County Middle School (math 32% / reading 35%, grade F, #206 of 470 statewide, top 45%, 826 students, 60% FRL).
• Market conditions: 95 active listings in the ZIP; 163 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $15k of equity ($989 loan paydown + $14k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $52k; list at $143k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,855 (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: 1.04% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.90%
• DSCR: 1.40
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 30.8%
• Equity multiple: 3.42×
• Total profit: $96,750
• Equity at exit: $128,826

10-year hold

• IRR: 26.6%
• Equity multiple: 7.74×
• Total profit: $269,957
• Equity at exit: $277,818

Cash invested: $40,040 (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 30662

• Home prices YoY: 17.9%
• Active inventory: 95
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,492 medium
• Mortgage (P&I): −$750
• Tax from tax record: −$72 /mo · $870/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $297

Break-even live

Break-even rent $1,116

Max offer price $143,000

Occupancy floor 75%

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: $35,750
• Closing costs: $4,290
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-17
   status Under Contract
2. 2026-04-08
   price $143,000
3. 2026-03-27
   listed $145,000 New
4. 2006-04-10
   soldstatus $52,000
5. 2000-09-12
   soldstatus $58,300

ⓘ 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: $870 · $72/mo
• Projected year-2 tax: $1,316 · $110/mo
• Expected delta: +$446/yr (+$37/mo · 51.3%)

ⓘ 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 5/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $17,907
• − Mortgage interest: −$8,010
• − Property taxes: −$870
• − Insurance: −$715
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$4,160
• Taxable income: $1,287
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $3,254/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: Franklin County
• NCES district ID: 1302250
• Math proficiency: 38% ▼ -1.00%
• Reading proficiency: 35% ▼ -3.00%
• Median HH income: $35,985
• Composite: 30.28/100
• National rank: #6281
• State rank: #61 of 174 in GA

Livability — Franklin Springs

• Score: 73/100
• State rank: #48
• US rank: #5159

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Franklin County · 7,950 people
• City population: 42
• Metro: Athens-Clarke County, GA
• Population (ZIP): 7,950
• Household income: $53,487
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 72.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 22,625 people
• By 2030: 22,725 · +0.4%
• By 2040: 22,806 · +0.8%
• By 2050: 22,713 · +0.4%
• By 2075: 22,514 · -0.5%
• By 2100: 20,768 · -8.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 11% Two or more races 5% Hispanic / Latino 4% Asian 4%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Vietnam, Canada
• Languages at home: 91% English-only · Vietnamese 4% Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+72.6) · D 13.6% · R 86.2%
• 2008→2024 swing: -21.1pp toward R · 2008: -51.5pp · 2024: -72.6pp
• All cycles: 2024: R+72.6 2020: R+69.5 2016: R+68.6 2012: R+59.5 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 62.43%
• Current HPI: 410.693
• Rent YoY: —
• Metro: Athens-Clarke County, 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

+145.3% since first listed

5 events — show timeline

• 2026-04-17 Pending — GAMLS
• 2026-04-08 Price Changed $143,000 GAMLS
• 2026-03-27 Listed $145,000 GAMLS
• 2006-04-10 Sold (Public Records) $52,000 Public Records
• 2000-09-12 Sold (Public Records) $58,300 Public Records

Property tax history

+6.8%/yr

Latest (2025): $870 · +30.3% YoY. Source: county tax records.