156 Shelton Rd · Norwood, GA 30821

$99,156

3 bd · 2.0 ba · 976 sqft · SingleFamily public records · 33 Days on market

Built 1982 0.85 ac lot

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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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• Appreciation +5.8/10.0
• 1% rule +4.8/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

This updated country home with 3 bedrooms and 2 bathrooms offers peaceful living on 0.85 acres. The solid pine floors are new, the drywall is new and freshly painted, the plumbing has been updated, and the 35 year architectural shingles and water heater were installed in 2024. New ceiling fans and light fixtures have also been installed in the dining area and all 3 bedrooms. In two of the bedrooms, the new window units offer air conditioning and heat and there is a wall furnace in the dining area to keep you warm during the cooler months. The primary bedroom features an en suite bathroom with a walk in shower and the hall bath has a tub/shower combo. The living room shares a semi open conce

Key facts

• New drywall
• New ceiling fans
• Solid pine floors

Tags

• SOLID PINE FLOORS
• NEW DRYWALL
• UPDATED PLUMBING
• 35 YEAR ARCHITECTURAL SHINGLES
• NEW CEILING FANS
• NEW LIGHT FIXTURES

Property features AI

Finance

• HOA & community: Association amenities: Other

Exterior

• Parking: Attached parking; Carport
• Utilities: Well water; Septic tank; No additional utilities listed
• Home design: Single-family residence; One story; Entry level: 1; Residential property
• Construction: Fiber cement exterior; Block foundation
• Exterior features: Front porch; Storm door(s); No exterior fencing; Composition roof; Secluded lot; Paved road access; City street and state road frontage; Has a view

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: 5 total rooms
• Flooring: Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Wall furnace (electric); Wall/window cooling units; Ceiling fan(s)
• Interior features: Eat-in kitchen; No basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (2.2% below list).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 52/100 on livability (#563 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D, amenities F, commute F.
• Warren County (rural): math 10% / reading 20% proficiency, ranked #162 of 174 in GA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Warren County Middle School (math 12% / reading 27%, grade F, #356 of 470 statewide, top 78%, 159 students, 100% FRL); Warren County High School (math 5% / reading 15%, grade F, #353 of 424 statewide, top 86%, 159 students, 100% FRL).
• Market conditions: 7 active listings in the ZIP; 1 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($686 loan paydown + $1k appreciation (1.5% local appreciation)).
• Warren County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.5% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($96k) 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, 50% 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 $96,181 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 0.98% ✗
• Cap rate: 8.26%
• Cash-on-cash: 7.01%
• DSCR: 1.31
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.0%
• Equity multiple: 1.53×
• Total profit: $14,617
• Equity at exit: $36,479

10-year hold

• IRR: 13.4%
• Equity multiple: 2.71×
• Total profit: $47,612
• Equity at exit: $50,579

Cash invested: $27,764 (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 30821

• Home prices YoY: 1.6%
• Active inventory: 7
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $970 medium
• Mortgage (P&I): −$520
• Tax from tax record: −$43 /mo · $512/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $162

Break-even live

Break-even rent $765

Max offer price $99,156

Occupancy floor 78%

Sensitivity live

Price	-10% $218	-5% $190	+0% $162	+5% $134	+10% $106
Rent	-10% $86	-5% $124	+0% $162	+5% $200	+10% $239
Rate	-1.0pp $212	-0.5pp $187	base $162	+0.5pp $136	+1.0pp $110

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: $24,789
• Closing costs: $2,975
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-14
   status $99,156 Pending 33 DOM
2. 2026-06-13
   days on market $99,156 Active 33 DOM
3. 2026-06-12
   days on market $99,156 Active 32 DOM
4. 2026-06-09
   days on market $99,156 Active 29 DOM
5. 2026-06-08
   days on market $99,156 Active 28 DOM
6. 2026-06-07
   days on market $99,156 Active 27 DOM
7. 2026-06-05
   days on market $99,156 Active 25 DOM
8. 2026-06-04
   days on market $99,156 Active 23 DOM
9. 2026-06-02
   days on market $99,156 Active 22 DOM
10. 2026-06-01
    days on market $99,156 Active 21 DOM
11. 2026-05-31
    days on market $99,156 Active 20 DOM
12. 2026-05-31
    days on market $99,156 Active 19 DOM
13. 2026-05-11
    historical
14. 2026-04-23
    listed $99,156 Active
15. 2026-04-23
    listed $99,156 Active 940-char remark

ⓘ 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: $512 · $43/mo
• Projected year-2 tax: $912 · $76/mo
• Expected delta: +$400/yr (+$33/mo · 78.1%)

ⓘ 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 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,638
• − Mortgage interest: −$5,554
• − Property taxes: −$512
• − Insurance: −$496
• − Repairs & maintenance: −$931
• − Management: −$931
• − Depreciation: −$2,885
• Taxable income: $329
• Est. tax owed @ 24.0%: −$79
• After-tax cash flow: $1,867/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: Warren County
• NCES district ID: 1305460
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 20% ▼ -2.00%
• Median HH income: $32,085
• Composite: 12.02/100
• National rank: #9663
• State rank: #162 of 174 in GA

Livability — Norwood

• Score: 52/100
• State rank: #563
• US rank: #24771

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,192

Population outlook (Warren County) Hauer SSP2

• Today (2025): 4,769 people
• By 2030: 4,364 · -8.5%
• By 2040: 3,582 · -24.9%
• By 2050: 2,883 · -39.5%
• By 2075: 1,787 · -62.5%
• By 2100: 1,134 · -76.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (66%)
• Race & ethnicity: Black 66% White 33%
• Common ancestry: Slovak 1% Italian 1% Scottish 1%

Political lean MEDSL · Warren

• 2024 margin: Toss-up / Even · D 52.2% · R 47.5%
• 2008→2024 swing: -12.8pp toward R · 2008: 17.6pp · 2024: 4.7pp
• All cycles: 2024: D+4.7 2020: D+11.4 2016: D+13.8 2012: D+21.2 2008: D+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.50%
• Current HPI: 92.5085
• Rent YoY: —
• Metro: —
• 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

• 2026-06-13 Pending — Hive MLS
• 2026-05-11 Listing Removed — Hive MLS
• 2026-04-23 Listed $99,156 Hive MLS
• 2026-04-23 Listed $99,156 Hive MLS

Property tax history

-0.0%/yr

Latest (2025): $512 · +6.3% YoY. Source: county tax records.