135 Mahaffey Dr #5309 · Eatonton, GA 31024

$95,000

1 bd · 1.0 ba · 659 sqft · Condo · 29 Days on market

Built 2002

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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 +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Owner Financing is Available!! Welcome to effortless lake living in the heart of beautiful Lake Oconee! This charming condo offers the perfect blend of low-maintenance living and relaxed luxury. Step inside to find an open and inviting floor plan designed for comfort and functionality. The spacious living area flows seamlessly into the kitchen and dining space. The primary suite offers a private retreat with ample closet space and an en-suite bath. Enjoy peaceful mornings and relaxing evenings on your private patio/balcony. Located in a desirable community, this condo provides convenient access to shopping, dining, golf, and lake activities. Whether you're looking for a full-time residence, weekend getaway, or investment opportunity, this updated and freshly painted property delivers both comfort and convenience.

Key facts

• Convenient access
• Private patio
• Community pool

Tags

• PRIVATE PATIO
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $545 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 4.2% in Eatonton — 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 71/100 on livability (#76 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Putnam County (rural): math 33% / reading 30% proficiency, ranked #86 of 174 in GA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 522 active listings in the ZIP; 129 units permitted in Putnam County in 2024 (50 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.
• Putnam County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 37% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.62% ✓
• Cap rate: 13.18%
• Cash-on-cash: 24.58%
• DSCR: 2.09
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 18.0%
• Equity multiple: 1.73×
• Total profit: $19,348
• Equity at exit: $14,165

10-year hold

• IRR: 26.4%
• Equity multiple: 3.32×
• Total profit: $61,675
• 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 31024

• Active inventory: 522
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,541 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA est. from 1 same-building comp: −$16
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $545

Break-even live

Break-even rent $851

Max offer price $95,000

Occupancy floor 60%

Sensitivity live

Price	-10% $611	-5% $578	+0% $545	+5% $512	+10% $479
Rent	-10% $423	-5% $484	+0% $545	+5% $606	+10% $667
Rate	-1.0pp $593	-0.5pp $569	base $545	+0.5pp $520	+1.0pp $495

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: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-03-19
   status Under Contract

   Show marketing remark (824 chars)

   Owner Financing is Available!! Welcome to effortless lake living in the heart of beautiful Lake Oconee! This charming condo offers the perfect blend of low-maintenance living and relaxed luxury. Step inside to find an open and inviting floor plan designed for comfort and functionality. The spacious living area flows seamlessly into the kitchen and dining space. The primary suite offers a private retreat with ample closet space and an en-suite bath. Enjoy peaceful mornings and relaxing evenings on your private patio/balcony. Located in a desirable community, this condo provides convenient access to shopping, dining, golf, and lake activities. Whether you're looking for a full-time residence, weekend getaway, or investment opportunity, this updated and freshly painted property delivers both comfort and convenience.

2. 2026-03-19
   historical Active Under Contract 824-char remark

   Show marketing remark (824 chars)

   Owner Financing is Available!! Welcome to effortless lake living in the heart of beautiful Lake Oconee! This charming condo offers the perfect blend of low-maintenance living and relaxed luxury. Step inside to find an open and inviting floor plan designed for comfort and functionality. The spacious living area flows seamlessly into the kitchen and dining space. The primary suite offers a private retreat with ample closet space and an en-suite bath. Enjoy peaceful mornings and relaxing evenings on your private patio/balcony. Located in a desirable community, this condo provides convenient access to shopping, dining, golf, and lake activities. Whether you're looking for a full-time residence, weekend getaway, or investment opportunity, this updated and freshly painted property delivers both comfort and convenience.

3. 2026-02-18
   listed $95,000 Active 824-char remark

   Show marketing remark (824 chars)

   Owner Financing is Available!! Welcome to effortless lake living in the heart of beautiful Lake Oconee! This charming condo offers the perfect blend of low-maintenance living and relaxed luxury. Step inside to find an open and inviting floor plan designed for comfort and functionality. The spacious living area flows seamlessly into the kitchen and dining space. The primary suite offers a private retreat with ample closet space and an en-suite bath. Enjoy peaceful mornings and relaxing evenings on your private patio/balcony. Located in a desirable community, this condo provides convenient access to shopping, dining, golf, and lake activities. Whether you're looking for a full-time residence, weekend getaway, or investment opportunity, this updated and freshly painted property delivers both comfort and convenience.

4. 2026-02-16
   listed $95,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 37% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,493
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − HOA: −$192
• − Depreciation: −$2,764
• Taxable income: $5,357
• Est. tax owed @ 24.0%: −$1,286
• After-tax cash flow: $5,254/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: Putnam County
• NCES district ID: 1304260
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $44,038
• Composite: 26.9/100
• National rank: #7088
• State rank: #86 of 174 in GA

Livability — Eatonton

• Score: 71/100
• State rank: #76
• US rank: #6665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Putnam County · 21,601 people
• City population: 21,601
• Metro: nan
• Population (ZIP): 21,601
• Household income: $65,971
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 696.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 20,747 people
• By 2030: 20,163 · -2.8%
• By 2040: 18,680 · -10.0%
• By 2050: 17,117 · -17.5%
• By 2075: 13,269 · -36.0%
• By 2100: 9,234 · -55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+42.2) · D 28.7% · R 71.0%
• 2008→2024 swing: -10.9pp toward R · 2008: -31.4pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.9 2016: R+40.0 2012: R+35.8 2008: R+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.84%
• Current HPI: 269.8265
• Rent YoY: —
• Metro: nan
• 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

+0.0% since first listed

4 events — show timeline

• 2026-03-19 Pending — GAMLS
• 2026-03-19 Contingent — LCBR
• 2026-02-18 Listed $95,000 LCBR
• 2026-02-16 Listed $95,000 GAMLS