216/222 Bowen St · Pelham, GA 31779

$65,000

3 bd · 1.0 ba · 1,054 sqft · SingleFamily public records · 114 Days on market

Built 1950 Fair condition 0.27 ac lot $62/sqft · 38% below area Est $105k · 38% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0

Listing remarks MLS

Unlock the potential of this unique investment opportunity in the heart of Pelham! Situated on just over a half-acre within the city limits, this income-producing property includes a 3-bedroom, 1-bath home plus an additional buildable lot, offering investors multiple paths for future growth. The home is currently tenant-occupied, providing immediate rental income, with opportunity to increase returns through future rent adjustments. The adjoining lot adds significant value and flexibility, whether for future development, resale, additional rental housing, or long-term investment purposes. Conveniently located approximately 30 minutes from Thomasville and one hour from Tallahassee, FL, this property offers easy access to regional employment, shopping, and amenities while maintaining the appeal of small-town living. Looking to expand your portfolio even further? This property can be purchased individually or as part of a package with two additional investment properties available at 194 Mitchell Street and 525 Love Street, Pelham GA, for more details. Opportunities that combine current income with future development potential are hard to find—don't miss this versatile investment asset.

Key facts

• Tenant occupied
• Future development
• Buildable lot

Tags

• INVESTMENT OPPORTUNITY
• INCOME PRODUCING PROPERTY
• BUILDABLE LOT
• TENANT OCCUPIED
• IMMEDIATE RENTAL INCOME
• FUTURE DEVELOPMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 4.9% in Pelham — 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 56/100 on livability (#483 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Pelham City (rural): math 13% / reading 20% proficiency, ranked #159 of 174 in GA (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pelham Elementary School (math 21% / reading 16%, grade F, #922 of 1,228 statewide, top 75%, 620 students, 100% FRL); Pelham City Middle School (math 7% / reading 22%, grade F, #403 of 470 statewide, top 86%, 335 students, 100% FRL); Pelham High School (math 2% / reading 27%, grade F, #297 of 424 statewide, top 74%, 432 students, 100% FRL) — zoned schools average 100% FRL vs 73% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 58 active listings in the ZIP; 25 units permitted in Mitchell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (2.4% local appreciation)).
• Mitchell County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($59k) 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

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F 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?
8. 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.
9. 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.
10. 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: 1.64% ✓
• Cap rate: 13.86%
• Cash-on-cash: 27.02%
• DSCR: 2.20
• GRM: 5.1

CMA / ARV

• ARV (median comp): $104,594
• List price: $65,000
• Delta: -37.85%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 Palmer St	1.20mi	3/1.0	1,053 (-0%)	28mo	$140,000	$133	45
311 Tennyson St NE	0.61mi	2/1.0 (-1)	1,184 (+12%)	4mo	$124,898	$105	43
514 Oak St	0.97mi	2/1.0 (-1)	1,030 (-2%)	34mo	$50,000	$49	36
307 SW Palmer St	0.63mi	3/2.0	1,200 (+14%)	11mo	$122,234	$102	34
247 Green St	0.57mi	3/2.0	1,314 (+25%)	13mo	$65,000	$49	34
352 SW College St	0.92mi	3/2.0	1,277 (+21%)	3mo	$208,900	$164	34
503 Grady St	0.92mi	3/2.0	1,148 (+9%)	17mo	$118,000	$103	32
438 Dogwood Dr NE	0.81mi	3/2.0	1,266 (+20%)	5mo	$160,000	$126	32
550 Burum St	0.85mi	2/1.0 (-1)	1,000 (-5%)	28mo	$104,000	$104	32
129 Proctor St SE	0.90mi	3/1.0	1,310 (+24%)	21mo	$35,000	$27	22
281 Peachtree St NE	0.54mi	2/2.0 (-1)	1,224 (+16%)	27mo	$53,000	$43	21
618 Harmony Rd	1.30mi	2/2.0 (-1)	1,230 (+17%)	14mo	$160,000	$130	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.8%
• Equity multiple: 2.74×
• Total profit: $31,727
• Equity at exit: $26,879

10-year hold

• IRR: 32.8%
• Equity multiple: 5.35×
• Total profit: $79,203
• Equity at exit: $39,684

Cash invested: $18,200 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 5 under contract
• Months of supply: 12.0 mo (8%/mo absorbed)
• Median asking: $112,000 ($91/sqft)
• Median days on market: 147 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +9.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 31779

• Home prices YoY: 1.0%
• Active inventory: 58
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$63 /mo · $753/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $410

Break-even live

Break-even rent $545

Max offer price $65,000

Occupancy floor 56%

Sensitivity live

Price	-10% $447	-5% $428	+0% $410	+5% $391	+10% $373
Rent	-10% $326	-5% $368	+0% $410	+5% $452	+10% $494
Rate	-1.0pp $443	-0.5pp $426	base $410	+0.5pp $393	+1.0pp $376

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: $16,250
• Closing costs: $1,950
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Single-story home
• Construction: Vinyl sidingCrawlspace foundation
• Exterior features: Porch (screened)Publicly maintained paved road

Interior

• Kitchen: IcemakerOvenRangeRefrigerator
• Bedrooms: Bedroom 2 (10 x 11)Bedroom 3 (10 x 11)
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window cooling units
• Interior features: Screened porch

Listing history 50 events

1. 2026-09-23
   days on market $65,000 Active 114 DOM
2. 2026-09-21
   days on market $65,000 Active 112 DOM
3. 2026-09-20
   days on market $65,000 Active 111 DOM
4. 2026-09-19
   days on market $65,000 Active 110 DOM
5. 2026-09-18
   days on market $65,000 Active 109 DOM
6. 2026-09-17
   days on market $65,000 Active 108 DOM
7. 2026-09-17
   days on market $65,000 Active 107 DOM
8. 2026-09-15
   days on market $65,000 Active 106 DOM
9. 2026-09-14
   days on market $65,000 Active 105 DOM
10. 2026-09-13
    days on market $65,000 Active 104 DOM
11. 2026-09-12
    days on market $65,000 Active 103 DOM
12. 2026-09-11
    days on market $65,000 Active 102 DOM
13. 2026-09-05
    days on market $65,000 Active 96 DOM
14. 2026-09-04
    days on market $65,000 Active 95 DOM
15. 2026-09-03
    days on market $65,000 Active 94 DOM
16. 2026-09-02
    days on market $65,000 Active 93 DOM
17. 2026-08-30
    days on market $65,000 Active 90 DOM
18. 2026-08-29
    days on market $65,000 Active 89 DOM
19. 2026-08-28
    days on market $65,000 Active 88 DOM
20. 2026-08-27
    days on market $65,000 Active 87 DOM
21. 2026-08-26
    days on market $65,000 Active 86 DOM
22. 2026-08-25
    days on market $65,000 Active 85 DOM
23. 2026-08-24
    days on market $65,000 Active 84 DOM
24. 2026-08-23
    days on market $65,000 Active 83 DOM
25. 2026-08-22
    days on market $65,000 Active 82 DOM
26. 2026-08-21
    days on market $65,000 Active 81 DOM
27. 2026-08-20
    days on market $65,000 Active 80 DOM
28. 2026-08-19
    days on market $65,000 Active 79 DOM
29. 2026-08-18
    days on market $65,000 Active 78 DOM
30. 2026-08-17
    days on market $65,000 Active 77 DOM
31. 2026-08-16
    days on market $65,000 Active 76 DOM
32. 2026-08-15
    days on market $65,000 Active 75 DOM
33. 2026-08-14
    days on market $65,000 Active 74 DOM
34. 2026-08-13
    days on market $65,000 Active 73 DOM
35. 2026-08-12
    days on market $65,000 Active 72 DOM
36. 2026-08-11
    days on market $65,000 Active 71 DOM
37. 2026-08-10
    days on market $65,000 Active 70 DOM
38. 2026-08-09
    days on market $65,000 Active 69 DOM
39. 2026-08-08
    days on market $65,000 Active 68 DOM
40. 2026-08-07
    days on market $65,000 Active 67 DOM
41. 2026-08-06
    days on market $65,000 Active 66 DOM
42. 2026-08-05
    days on market $65,000 Active 65 DOM
43. 2026-08-04
    days on market $65,000 Active 64 DOM
44. 2026-08-03
    days on market $65,000 Active 63 DOM
45. 2026-07-31
    days on market $65,000 Active 60 DOM
46. 2026-07-30
    days on market $65,000 Active 59 DOM
47. 2026-07-29
    days on market $65,000 Active 58 DOM
48. 2026-07-27
    days on market $65,000 Active 56 DOM
49. 2026-07-25
    days on market $65,000 Active 54 DOM
50. 2026-07-24
    days on market $65,000 Active 53 DOM

ⓘ 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: $753 · $63/mo
• Projected year-2 tax: $753 · $63/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 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,767
• − Mortgage interest: −$3,641
• − Property taxes: −$753
• − Insurance: −$325
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$1,891
• Taxable income: $4,114
• Est. tax owed @ 24.0%: −$987
• After-tax cash flow: $3,930/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab Est. rehab $26,350–$47,430 screening

This property requires significant repairs, particularly to the roof and exterior siding, but has potential for substantial value increase through these improvements.

Repairs flagged

• Major roof — The independent aerial image shows significant wear and tear on the roof.
• Moderate exterior siding — The siding shows some discoloration and minor damage.

Value-add opportunities

• Both repair roof — Repairing the roof will improve the home's appearance and functionality, making it more attractive to potential buyers or renters. ↑
• Both paint exterior — Painting the exterior will enhance the home's curb appeal and make it more attractive to potential buyers or renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 16/100

Zoned Schools

Elementary Pelham Elementary School F GA #922/1,228 Nat'l #34,688/41,679 Middle Pelham City Middle School F GA #403/470 Nat'l #12,767/14,009 High Pelham High School F GA #297/424 Nat'l #15,355/17,239

Schools (NCES district)

• District: Pelham City
• NCES district ID: 1304080
• Math proficiency: 13% ▼ -20.00%
• Reading proficiency: 20% ▼ -6.00%
• Median HH income: $27,961
• Composite: 12.88/100
• National rank: #9589
• State rank: #159 of 174 in GA

D Composite livability gradescore 56/100

Livability — Pelham

• Score: 56/100
• State rank: #483
• US rank: #22451

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pelham, GA
• County: Mitchell · 20,489 people
• Population (ZIP): 8,877
• Household income: $50,450
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 7% of renters

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Population outlook (Mitchell County) Hauer SSP2

• Today (2025): 20,489 people
• By 2030: 19,310 · -5.8%
• By 2040: 16,971 · -17.2%
• By 2050: 14,616 · -28.7%
• By 2075: 9,435 · -54.0%
• By 2100: 5,424 · -73.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Black 40% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4%

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Political lean MEDSL · Mitchell

• 2024 margin: R (+16.3) · D 41.7% · R 58.0%
• 2008→2024 swing: -12.3pp toward R · 2008: -4.1pp · 2024: -16.3pp
• All cycles: 2024: R+16.3 2020: R+10.5 2016: R+9.9 2012: R+0.9 2008: R+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.35%
• Current HPI: 242.0914
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

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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

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Single-story home
• Construction: Vinyl sidingCrawlspace foundation
• Exterior features: Porch (screened)Publicly maintained paved road

Interior

• Kitchen: IcemakerOvenRangeRefrigerator
• Bedrooms: Bedroom 2 (10 x 11)Bedroom 3 (10 x 11)
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window cooling units
• Interior features: Screened porch

Price history

+0.0% since first listed

2 events — show timeline

• 2026-06-01 Listed $65,000 TABRMLS
• 2026-06-01 Listed $65,000 CATRS

Property tax history

+20.0%/yr

Latest (2025): $753 · -0.1% YoY. Source: county tax records.