3 Fortune St · LaFayette, GA 30728

$60,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 182 Days on market

Built 1932 9,147 sqft lot ↓ 22% since listing

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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 +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the city of Lafayette. Convenient to schools, churches, shopping. recreation , restaurants and more. Bring your ideas and tool box to restore this home. Featuring two bedrooms, one bath, large kitchen and a laundry room. Nice back yard. Property is being sold ''as is''.

Key facts

• Back yard
• Laundry room
• Large kitchen

Tags

• LARGE KITCHEN
• LAUNDRY ROOM
• BACK YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $568 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.7% vs local median 4.1% in LaFayette — 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 61/100 on livability (#345 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, amenities F, commute F.
• Walker County (rural): math 25% / reading 29% proficiency, ranked #114 of 174 in GA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: North Lafayette Elementary School (math 22% / reading 17%, grade F, #878 of 1,228 statewide, top 75%, 432 students, 68% FRL); Lafayette Middle School (math 23% / reading 27%, grade F, #291 of 470 statewide, top 64%, 575 students, 77% FRL); Lafayette High School (math 5% / reading 15%, grade F, #353 of 424 statewide, top 86%, 1,164 students, 62% FRL).
• Market conditions: 218 active listings in the ZIP; 347 units permitted in Walker County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Walker County population projected at -16% 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $17k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — 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 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?
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 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: 2.07% ✓
• Cap rate: 17.65%
• Cash-on-cash: 40.57%
• DSCR: 2.81
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $173,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 N Steele St	0.12mi	2/1.0	1,054 (+10%)	5mo	$50,000	$47	74
18 Probasco St	0.23mi	1/1.0 (-1)	924 (-4%)	9mo	$50,000	$54	71
608 Bradley Ave	0.47mi	3/1.0 (+1)	945 (-2%)	7mo	$172,000	$182	64
510 Bradley Ave	0.52mi	2/1.0	966 (+1%)	14mo	$174,000	$180	64
707 N Chattanooga St	0.16mi	2/2.0	1,050 (+9%)	12mo	$182,500	$174	63
205 Cavender St	0.43mi	2/2.0	1,050 (+9%)	5mo	$199,900	$190	56
201 Warthen St	0.75mi	2/1.0	975 (+2%)	8mo	$180,000	$185	56
102 S Flora St	0.54mi	2/2.0	944 (-2%)	20mo	$198,500	$210	52
409 Daugherty St	0.62mi	2/1.0	1,012 (+5%)	13mo	$30,000	$30	51
306 Cedar St	0.47mi	3/1.0 (+1)	1,074 (+12%)	3mo	$174,368	$162	51
607 Colerain St	0.69mi	2/1.0	924 (-4%)	13mo	$169,000	$183	50
1009 W Main St	0.69mi	3/1.5 (+1)	1,102 (+15%)	2mo	$200,000	$181	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.0%
• Equity multiple: 2.58×
• Total profit: $26,471
• Equity at exit: $8,946

10-year hold

• IRR: 43.6%
• Equity multiple: 5.15×
• Total profit: $69,708
• Equity at exit: $5,188

Cash invested: $16,800 (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 30728

• Home prices YoY: -14.2%
• Active inventory: 218
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,244 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$75 /mo · $899/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $568

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 49%

Sensitivity live

Price	-10% $602	-5% $585	+0% $568	+5% $551	+10% $534
Rent	-10% $470	-5% $519	+0% $568	+5% $617	+10% $666
Rate	-1.0pp $598	-0.5pp $583	base $568	+0.5pp $552	+1.0pp $537

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-14
   status Pending

   Show marketing remark (281 chars)

   Located in the city of Lafayette. Convenient to schools, churches, shopping. recreation , restaurants and more. Bring your ideas and tool box to restore this home. Featuring two bedrooms, one bath, large kitchen and a laundry room. Nice back yard. Property is being sold ''as is''.

2. 2026-04-14
   status Pending 281-char remark

   Show marketing remark (281 chars)

   Located in the city of Lafayette. Convenient to schools, churches, shopping. recreation , restaurants and more. Bring your ideas and tool box to restore this home. Featuring two bedrooms, one bath, large kitchen and a laundry room. Nice back yard. Property is being sold ''as is''.

3. 2026-03-19
   price $60,000

   Show marketing remark (281 chars)

   Located in the city of Lafayette. Convenient to schools, churches, shopping. recreation , restaurants and more. Bring your ideas and tool box to restore this home. Featuring two bedrooms, one bath, large kitchen and a laundry room. Nice back yard. Property is being sold ''as is''.

4. 2026-03-19
   price $60,000 281-char remark

   Show marketing remark (281 chars)

   Located in the city of Lafayette. Convenient to schools, churches, shopping. recreation , restaurants and more. Bring your ideas and tool box to restore this home. Featuring two bedrooms, one bath, large kitchen and a laundry room. Nice back yard. Property is being sold ''as is''.

5. 2025-11-12
   price $67,000 281-char remark

   Show marketing remark (281 chars)

   Located in the city of Lafayette. Convenient to schools, churches, shopping. recreation , restaurants and more. Bring your ideas and tool box to restore this home. Featuring two bedrooms, one bath, large kitchen and a laundry room. Nice back yard. Property is being sold ''as is''.

6. 2025-11-12
   price $67,000

   Show marketing remark (281 chars)

   Located in the city of Lafayette. Convenient to schools, churches, shopping. recreation , restaurants and more. Bring your ideas and tool box to restore this home. Featuring two bedrooms, one bath, large kitchen and a laundry room. Nice back yard. Property is being sold ''as is''.

7. 2025-10-14
   listed $77,000 Active

   Show marketing remark (281 chars)

   Located in the city of Lafayette. Convenient to schools, churches, shopping. recreation , restaurants and more. Bring your ideas and tool box to restore this home. Featuring two bedrooms, one bath, large kitchen and a laundry room. Nice back yard. Property is being sold ''as is''.

8. 2025-10-14
   listed $77,000 Active 281-char remark

   Show marketing remark (281 chars)

   Located in the city of Lafayette. Convenient to schools, churches, shopping. recreation , restaurants and more. Bring your ideas and tool box to restore this home. Featuring two bedrooms, one bath, large kitchen and a laundry room. Nice back yard. Property is being sold ''as is''.

ⓘ 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: $899 · $75/mo
• Projected year-2 tax: $899 · $75/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,925
• − Mortgage interest: −$3,361
• − Property taxes: −$899
• − Insurance: −$300
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$1,745
• Taxable income: $6,231
• Est. tax owed @ 24.0%: −$1,496
• After-tax cash flow: $5,320/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: Walker County
• NCES district ID: 1305370
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $39,889
• Composite: 22.74/100
• National rank: #8035
• State rank: #114 of 174 in GA

Livability — LaFayette

• Score: 61/100
• State rank: #345
• US rank: #17893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: LaFayette, GA
• County: Walker County · 48,831 people
• City population: 18,790
• Metro: Chattanooga, TN-GA
• Population (ZIP): 18,790
• Household income: $55,455
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 233.0

Population outlook (Walker County) Hauer SSP2

• Today (2025): 66,050 people
• By 2030: 64,305 · -2.6%
• By 2040: 60,127 · -9.0%
• By 2050: 55,551 · -15.9%
• By 2075: 44,886 · -32.0%
• By 2100: 34,015 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 2%
• Foreign-born: 2% · South Korea
• Languages at home: 97% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Walker

• 2024 margin: Solid R (+59.3) · D 20.1% · R 79.4%
• 2008→2024 swing: -12.5pp toward R · 2008: -46.8pp · 2024: -59.3pp
• All cycles: 2024: R+59.3 2020: R+59.3 2016: R+61.5 2012: R+50.2 2008: R+46.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.02%
• Current HPI: 271.2944
• Rent YoY: —
• Metro: Chattanooga, TN-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

-22.1% since first listed

8 events — show timeline

• 2026-04-14 Pending — GCAR
• 2026-04-14 Pending — CCARMLS
• 2026-03-19 Price Changed $60,000 GCAR
• 2026-03-19 Price Changed $60,000 CCARMLS
• 2025-11-12 Price Changed $67,000 CCARMLS
• 2025-11-12 Price Changed $67,000 GCAR
• 2025-10-14 Listed $77,000 CCARMLS
• 2025-10-14 Listed $77,000 GCAR

Property tax history

+26.0%/yr

Latest (2025): $899 · +2.7% YoY. Source: county tax records.