117 West Jones Ave · Statesboro, GA 30458

$219,900

2 bd · 2.0 ba · 1,232 sqft · MultiFamily public records · 102 Days on market

Built 1945 0.47 ac lot $178/sqft · 40% above area Est $157k · 40% over

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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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investors, take note: this is a rare chance to secure a strategic foothold in Statesboro's high-demand rental corridor. Perfectly positioned between the high-energy Georgia Southern University campus and the city's evolving downtown district, this three-unit portfolio offers a sophisticated "barbell" investment strategy—combining immediate, worry-free cash flow with a clear, high-margin value-add play. The package consists of two distinct parcels. The first features a modern, turnkey duplex at 115A/B Inman Lane, which underwent a comprehensive professional renovation in 2022. Paired with the occupied 1,232 sq ft residence at 117 W Jones Ave, this parcel acts as the portfolio's stabilized anchor, delivering consistent monthly revenue from day one. However, the true "alpha" of this deal lies just one minute away at 206 W Jones Ave. Situated on its own deeded lot, this 1,211 sq ft home is a blank canvas ready for a high-end renovation. By modernizing this third asset, an owner can force significant appreciation and capture the top-tier rental rates currently driving the Statesboro market. This is not just a collection of properties; it is a diversified income engine designed for the savvy operator who understands the value of proximity to a major university and a growing urban core. Whether you are looking to scale your student housing portfolio or execute a high-yield renovation and hold, this multi-asset offering provides the flexibility and location necessary for long-term outperformance. Don't miss your chance to capitalize on one of the most robust rental markets in the region.

Key facts

• Deeded lot
• High end renovation
• 0.47 acre lot

Tags

• MODERN TURNKEY DUPLEX
• DEEDED LOT
• HIGH END RENOVATION
• PROXIMITY TO MAJOR UNIVERSITY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $200k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 3.6% in Statesboro — 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 68/100 on livability (#151 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities C-, crime D+, schools D-.
• Bulloch County (rural): math 32% / reading 33% proficiency, ranked #85 of 174 in GA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 335 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 668 units permitted in Bulloch County in 2024 (6 in 5+ unit buildings).
• At $3,363/mo this rent would consume 78% of the median local household income ($52k/yr) (locally 3020% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Bulloch County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $62k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $79k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $220k implies a 266% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $200,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.53% ✓
• Cap rate: 13.62%
• Cash-on-cash: 26.18%
• DSCR: 2.16
• GRM: 5.4

CMA / ARV

• ARV (median comp): $156,931
• List price: $219,900
• Delta: 40.13%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.62% rent growth · sell at horizon

5-year hold

• IRR: 18.4%
• Equity multiple: 1.73×
• Total profit: $45,245
• Equity at exit: $32,788

10-year hold

• IRR: 25.9%
• Equity multiple: 3.13×
• Total profit: $130,878
• Equity at exit: $19,013

Cash invested: $61,572 (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 30458

• Home prices YoY: -32.1%
• Rents YoY: 1.6%
• Active inventory: 335
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $3,363 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$69 /mo · $823/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$706
• Net cashflow: $1,343

Break-even live

Break-even rent $1,663

Max offer price $219,900

Occupancy floor 55%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	2	$3,363
Total (3 units)			$3,363

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 S Mulberry St Statesboro, GA	2.0	1.5	940	$1,262	$1.34	44d	2	0.42mi
217 Broad St Statesboro, GA	2.0	1.0	792	$1,350	$1.70	44d	1	0.43mi
15 N Zetterower Ave Apt 1 Statesboro, GA	1.0	1.0	800	$950	$1.19	44d	1	0.77mi
316 Florence Ave Statesboro, GA	2.0	1.0	886	$1,200	$1.35	44d	1	1.07mi
324 N Main St Unit 4 Statesboro, GA	2.0	1.0	900	$1,195	$1.33	44d	1	1.24mi
7020 White Pine Ave Statesboro, GA	3.0	2.0	1369	$1,950	$1.42	44d	1	1.40mi

Listing history 37 events

1. 2026-06-19
   days on market $219,900 Active 102 DOM
2. 2026-06-18
   days on market $219,900 Active 101 DOM
3. 2026-06-17
   days on market $219,900 Active 100 DOM
4. 2026-06-16
   days on market $219,900 Active 99 DOM
5. 2026-06-15
   days on market $219,900 Active 98 DOM
6. 2026-06-14
   days on market $219,900 Active 96 DOM
7. 2026-06-13
   days on market $219,900 Active 95 DOM
8. 2026-06-10
   days on market $219,900 Active 93 DOM
9. 2026-06-09
   days on market $219,900 Active 92 DOM
10. 2026-06-08
    days on market $219,900 Active 91 DOM
11. 2026-06-07
    days on market $219,900 Active 90 DOM
12. 2026-06-05
    days on market $219,900 Active 87 DOM
13. 2026-06-03
    days on market $219,900 Active 86 DOM
14. 2026-06-03
    days on market $219,900 Active 85 DOM
15. 2026-06-01
    days on market $219,900 Active 84 DOM
16. 2026-05-31
    days on market $219,900 Active 83 DOM
17. 2026-05-30
    days on market $219,900 Active 82 DOM
18. 2026-05-14
    price $229,900 1632-char remark

    Show marketing remark (1632 chars)

    Investors, take note: this is a rare chance to secure a strategic foothold in Statesboro's high-demand rental corridor. Perfectly positioned between the high-energy Georgia Southern University campus and the city's evolving downtown district, this three-unit portfolio offers a sophisticated "barbell" investment strategy—combining immediate, worry-free cash flow with a clear, high-margin value-add play. The package consists of two distinct parcels. The first features a modern, turnkey duplex at 115A/B Inman Lane, which underwent a comprehensive professional renovation in 2022. Paired with the occupied 1,232 sq ft residence at 117 W Jones Ave, this parcel acts as the portfolio's stabilized anchor, delivering consistent monthly revenue from day one. However, the true "alpha" of this deal lies just one minute away at 206 W Jones Ave. Situated on its own deeded lot, this 1,211 sq ft home is a blank canvas ready for a high-end renovation. By modernizing this third asset, an owner can force significant appreciation and capture the top-tier rental rates currently driving the Statesboro market. This is not just a collection of properties; it is a diversified income engine designed for the savvy operator who understands the value of proximity to a major university and a growing urban core. Whether you are looking to scale your student housing portfolio or execute a high-yield renovation and hold, this multi-asset offering provides the flexibility and location necessary for long-term outperformance. Don't miss your chance to capitalize on one of the most robust rental markets in the region.

19. 2026-04-20
    price $249,000 1632-char remark

    Show marketing remark (1632 chars)

    Investors, take note: this is a rare chance to secure a strategic foothold in Statesboro's high-demand rental corridor. Perfectly positioned between the high-energy Georgia Southern University campus and the city's evolving downtown district, this three-unit portfolio offers a sophisticated "barbell" investment strategy—combining immediate, worry-free cash flow with a clear, high-margin value-add play. The package consists of two distinct parcels. The first features a modern, turnkey duplex at 115A/B Inman Lane, which underwent a comprehensive professional renovation in 2022. Paired with the occupied 1,232 sq ft residence at 117 W Jones Ave, this parcel acts as the portfolio's stabilized anchor, delivering consistent monthly revenue from day one. However, the true "alpha" of this deal lies just one minute away at 206 W Jones Ave. Situated on its own deeded lot, this 1,211 sq ft home is a blank canvas ready for a high-end renovation. By modernizing this third asset, an owner can force significant appreciation and capture the top-tier rental rates currently driving the Statesboro market. This is not just a collection of properties; it is a diversified income engine designed for the savvy operator who understands the value of proximity to a major university and a growing urban core. Whether you are looking to scale your student housing portfolio or execute a high-yield renovation and hold, this multi-asset offering provides the flexibility and location necessary for long-term outperformance. Don't miss your chance to capitalize on one of the most robust rental markets in the region.

20. 2026-04-04
    price $259,000 1632-char remark

    Show marketing remark (1632 chars)

    Investors, take note: this is a rare chance to secure a strategic foothold in Statesboro's high-demand rental corridor. Perfectly positioned between the high-energy Georgia Southern University campus and the city's evolving downtown district, this three-unit portfolio offers a sophisticated "barbell" investment strategy—combining immediate, worry-free cash flow with a clear, high-margin value-add play. The package consists of two distinct parcels. The first features a modern, turnkey duplex at 115A/B Inman Lane, which underwent a comprehensive professional renovation in 2022. Paired with the occupied 1,232 sq ft residence at 117 W Jones Ave, this parcel acts as the portfolio's stabilized anchor, delivering consistent monthly revenue from day one. However, the true "alpha" of this deal lies just one minute away at 206 W Jones Ave. Situated on its own deeded lot, this 1,211 sq ft home is a blank canvas ready for a high-end renovation. By modernizing this third asset, an owner can force significant appreciation and capture the top-tier rental rates currently driving the Statesboro market. This is not just a collection of properties; it is a diversified income engine designed for the savvy operator who understands the value of proximity to a major university and a growing urban core. Whether you are looking to scale your student housing portfolio or execute a high-yield renovation and hold, this multi-asset offering provides the flexibility and location necessary for long-term outperformance. Don't miss your chance to capitalize on one of the most robust rental markets in the region.

21. 2026-03-25
    price $279,000 1632-char remark

    Show marketing remark (1632 chars)

    Investors, take note: this is a rare chance to secure a strategic foothold in Statesboro's high-demand rental corridor. Perfectly positioned between the high-energy Georgia Southern University campus and the city's evolving downtown district, this three-unit portfolio offers a sophisticated "barbell" investment strategy—combining immediate, worry-free cash flow with a clear, high-margin value-add play. The package consists of two distinct parcels. The first features a modern, turnkey duplex at 115A/B Inman Lane, which underwent a comprehensive professional renovation in 2022. Paired with the occupied 1,232 sq ft residence at 117 W Jones Ave, this parcel acts as the portfolio's stabilized anchor, delivering consistent monthly revenue from day one. However, the true "alpha" of this deal lies just one minute away at 206 W Jones Ave. Situated on its own deeded lot, this 1,211 sq ft home is a blank canvas ready for a high-end renovation. By modernizing this third asset, an owner can force significant appreciation and capture the top-tier rental rates currently driving the Statesboro market. This is not just a collection of properties; it is a diversified income engine designed for the savvy operator who understands the value of proximity to a major university and a growing urban core. Whether you are looking to scale your student housing portfolio or execute a high-yield renovation and hold, this multi-asset offering provides the flexibility and location necessary for long-term outperformance. Don't miss your chance to capitalize on one of the most robust rental markets in the region.

22. 2026-03-10
    listed $299,000 Active 1632-char remark

    Show marketing remark (1632 chars)

    Investors, take note: this is a rare chance to secure a strategic foothold in Statesboro's high-demand rental corridor. Perfectly positioned between the high-energy Georgia Southern University campus and the city's evolving downtown district, this three-unit portfolio offers a sophisticated "barbell" investment strategy—combining immediate, worry-free cash flow with a clear, high-margin value-add play. The package consists of two distinct parcels. The first features a modern, turnkey duplex at 115A/B Inman Lane, which underwent a comprehensive professional renovation in 2022. Paired with the occupied 1,232 sq ft residence at 117 W Jones Ave, this parcel acts as the portfolio's stabilized anchor, delivering consistent monthly revenue from day one. However, the true "alpha" of this deal lies just one minute away at 206 W Jones Ave. Situated on its own deeded lot, this 1,211 sq ft home is a blank canvas ready for a high-end renovation. By modernizing this third asset, an owner can force significant appreciation and capture the top-tier rental rates currently driving the Statesboro market. This is not just a collection of properties; it is a diversified income engine designed for the savvy operator who understands the value of proximity to a major university and a growing urban core. Whether you are looking to scale your student housing portfolio or execute a high-yield renovation and hold, this multi-asset offering provides the flexibility and location necessary for long-term outperformance. Don't miss your chance to capitalize on one of the most robust rental markets in the region.

23. 2025-09-09
    price $275,000
24. 2024-11-12
    price $220,000
25. 2024-10-14
    price $300,000
26. 2024-10-14
    price $300,000
27. 2024-09-27
    price $325,000
28. 2024-09-27
    price $325,000
29. 2024-09-13
    listed $349,999 Active
30. 2021-03-23
    soldstatus $60,000
31. 2021-03-23
    soldstatus $60,000
32. 2021-03-19
    soldstatus $45,000 Sold
33. 2021-02-02
    historical
34. 2020-12-04
    listed $50,000
35. 2019-10-01
    historical
36. 2019-04-02
    soldstatus $55,000
37. 2019-04-01
    listed $85,000

ⓘ 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: $823 · $69/mo
• Projected year-2 tax: $2,023 · $169/mo
• Expected delta: +$1,200/yr (+$100/mo · 145.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,356
• − Mortgage interest: −$12,318
• − Property taxes: −$823
• − Insurance: −$1,100
• − Repairs & maintenance: −$3,228
• − Management: −$3,228
• − Depreciation: −$6,397
• Taxable income: $13,262
• Est. tax owed @ 24.0%: −$3,183
• After-tax cash flow: $12,938/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: Bulloch County
• NCES district ID: 1300630
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 33% ▼ -8.00%
• Median HH income: $36,335
• Composite: 26.97/100
• National rank: #7074
• State rank: #85 of 174 in GA

Livability — Statesboro

• Score: 68/100
• State rank: #151
• US rank: #9809

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Statesboro, GA
• County: Bulloch County · 73,507 people
• City population: 67,164
• Metro: Statesboro, GA
• Population (ZIP): 49,717
• Household income: $52,038
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3020.0

Population outlook (Bulloch County) Hauer SSP2

• Today (2025): 79,935 people
• By 2030: 83,796 · +4.8%
• By 2040: 89,717 · +12.2%
• By 2050: 94,558 · +18.3%
• By 2075: 104,376 · +30.6%
• By 2100: 112,857 · +41.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 53% Black 36% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 1% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3%

Political lean MEDSL · Bulloch

• 2024 margin: Strong R (+29.0) · D 35.3% · R 64.3%
• 2008→2024 swing: -9.8pp toward R · 2008: -19.2pp · 2024: -29.0pp
• All cycles: 2024: R+29.0 2020: R+23.7 2016: R+23.4 2012: R+19.1 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.47%
• Current HPI: 201.6684
• Rent YoY: ▲ 1.62%
• Metro: Statesboro, 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

+170.5% since first listed

20 events — show timeline

• 2026-05-14 Price Changed $229,900 HABR
• 2026-04-20 Price Changed $249,000 HABR
• 2026-04-04 Price Changed $259,000 HABR
• 2026-03-25 Price Changed $279,000 HABR
• 2026-03-10 Listed $299,000 HABR
• 2025-09-09 Price Changed $275,000 HABR
• 2024-11-12 Price Changed $220,000 HABR
• 2024-10-14 Price Changed $300,000 HABR
• 2024-10-14 Price Changed $300,000 HABR
• 2024-09-27 Price Changed $325,000 HABR
• 2024-09-27 Price Changed $325,000 HABR
• 2024-09-13 Listed $349,999 HABR
• 2021-03-23 Sold (Public Records) $60,000 Public Records
• 2021-03-23 Sold (Public Records) $60,000 Public Records
• 2021-03-19 Sold (MLS) $45,000 GAMLS
• 2021-02-02 Listing Removed — GAMLS
• 2020-12-04 Listed $50,000 GAMLS
• 2019-10-01 Listing Removed — GAMLS
• 2019-04-02 Sold (Public Records) $55,000 Public Records
• 2019-04-01 Listed $85,000 GAMLS

Property tax history

+6.4%/yr

Latest (2025): $823 · +34.4% YoY. Source: county tax records.