106 Fernbanks Dr Ct · Athens-Clarke County unified government (balance), GA 30605

$239,900

3 bd · 3.0 ba · 2,098 sqft · Townhouse · 188 Days on market

Built 1973 Good condition $114/sqft · 11% below area Est $269k · 11% under $364/mo HOA · 17% of rent

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Why this score? — see what drove the D- 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).

• ARV discount +12.3/15.0
• Cash flow +7.1/30.0
• Condition / age +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Schools +2.1/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled on the beautiful Riverbend Parkway between the UGA Golf Course and the Oconee River, this roomy 2098 square foot three level condominium with two decks and a patio looks out over a wooded hill anchored by a small creek. With three bedrooms, two full bathrooms, two half-baths, a dining area, living room, lower living area with a spare room (currently used as an additional bedroom), there is ample room for living and gathering with friends. (More like ample +) The unit has two numbered parking spaces placed conveniently at the front door. The decks and patio provide private outdoor spaces to relax and enjoy the wonder of nature. Feel like being more social, sit out on the front porch and say "hi" to your neighbors as they walk by on the sidewalk to the pool or catching some exercise. The architectural design of this community is meant to blend in with the natural surroundings and not to steal the show. The University of Georgia's main campus is only a few miles away, and the UGA Veterinary School is three miles away, across College Station Rd from the new super Kroger and other shopping and dining on the Eastside. Three miles west and you will be right in the middle of the 5Points neighborhood where some of the most renowned restaurants in Georgia call home. Need to dash fast or far, just hop on the Loop and quickly spin around the perimeter of Athens and pop out in other parts of town, or hit the highway towards your weekend adventure. Professional, student or family, it's time to settle into Fernbanks, before you settle into something less. (Oh, and a home warranty is provided by the sellers). BONUS - The association is renovating the exteriors now. Come look!

Key facts

• Wooded hill
• Front porch
• Two decks

Tags

• TWO DECKS
• PATIO
• WOODED HILL
• SMALL CREEK
• PRIVATE OUTDOOR SPACES
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $240k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-344 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (11.5% below list).
• Recommended offer: $190k (20.7% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 3.4% in Athens-Clarke County unified government (balance) — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Clarke County (urban): math 17% / reading 21% proficiency, ranked #146 of 174 in GA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Barnett Shoals Elementary School (math 27% / reading 22%, grade F, #753 of 1,228 statewide, top 64%, 487 students, 83% FRL); Hilsman Middle School (math 12% / reading 22%, grade F, #381 of 470 statewide, top 82%, 628 students, 83% FRL); Cedar Shoals High School (1,443 students, 83% FRL).
• Market conditions: Rents rising fast (+4.8%/yr); 453 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,172 units permitted in Clarke County in 2024 (876 in 5+ unit buildings).
• At $2,124/mo this rent would consume 51% of the median local household income ($50k/yr) — 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.
• Clarke County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; list at $240k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $190,165 (20.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 4.57%
• Cash-on-cash: -6.14%
• DSCR: 0.73
• GRM: 9.4

CMA / ARV

• ARV (median comp): $268,641
• List price: $239,900
• Delta: -10.70%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
159 Woodstone Dr	0.17mi	3/3.0	1,862 (-11%)	17mo	$275,000	$148	59
365 Whitehall Road Rd	0.95mi	3/2.5	2,020 (-4%)	4mo	$305,000	$151	53
151 Woodstone Dr	0.18mi	4/3.0 (+1)	2,340 (+12%)	23mo	$293,500	$125	48
276 Oconee River Cir	1.00mi	3/2.5	2,020 (-4%)	12mo	$305,000	$151	47
585 White Cir #406	0.87mi	2/2.0 (-1)	1,950 (-7%)	9mo	$535,000	$274	36
585 White Cir #33	0.89mi	2/2.0 (-1)	1,944 (-7%)	13mo	$560,000	$288	33

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 · 4.83% rent growth · sell at horizon

5-year hold

• IRR: -24.2%
• Equity multiple: 0.16×
• Total profit: $-56,527
• Equity at exit: $35,770

10-year hold

• IRR: -13.9%
• Equity multiple: 0.12×
• Total profit: $-59,406
• Equity at exit: $20,742

Cash invested: $67,172 (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: 4 active
• Months of supply: 24.0 mo (4%/mo absorbed)
• Median asking: $306,950 ($167/sqft)
• Median days on market: 150 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: -23.3% vs current asking $/sqft

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

ZIP-level market 30605

• Rents YoY: 4.8%
• Active inventory: 453
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,124 high
• Mortgage (P&I): −$1,258
• Tax est. 1.5%: −$300 /mo · $3,598/yr
• Insurance: −$100
• HOA: −$364
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $-344

Break-even live

Break-even rent $2,559

Max offer price $190,165

Occupancy floor —

Sensitivity live

Price	-10% $-178	-5% $-261	+0% $-344	+5% $-427	+10% $-509
Rent	-10% $-512	-5% $-428	+0% $-344	+5% $-260	+10% $-176
Rate	-1.0pp $-223	-0.5pp $-283	base $-344	+0.5pp $-406	+1.0pp $-469

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: $59,975
• Closing costs: $7,197
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Fernbanks Ct Athens, GA	4.0	3.5	2098	$1,795	$0.86	6d	1	0.00mi
174 Woodstone Dr Athens, GA	3.0	2.5	1677	$1,450	$0.86	116d	1	0.18mi
2140 Lakeside Dr Athens, GA	4.0	5.0	1753	$730	$0.42	139d	1	0.42mi
2060 Lakeside Dr Athens, GA	4.0	4.0	1746	$2,650	$1.52	6d	1	0.45mi
2010 Lakeside Dr Athens, GA	4.0	4.0	1586	$2,800	$1.77	139d	1	0.48mi
2165 S Milledge Ave Athens, GA	2.0–4.0	2.0	1543	$1,725	$1.12	109d	2	0.58mi
2165 S Milledge Ave Athens, GA	4.0	2.0	1536	$1,825	$1.19	6d	2	0.58mi
375 Segrest Cir Athens, GA	3.0	2.0	1466	$2,400	$1.64	139d	1	0.68mi
375 Segrest Cir Athens, GA	3.0	2.0	1466	$2,200	$1.50	109d	1	0.68mi
147 White Cir Athens, GA	2.0	2.0	1600	$1,850	$1.16	6d	1	0.85mi
255 Pineview Dr Athens, GA	4.0–5.0	3.0–4.0	1862	$1,900	$1.02	139d	2	0.90mi
1055 College Station Rd Athens, GA	3.0	3.5	2264	$800	$0.35	6d	1	0.93mi
409 Whitehall Rd Athens, GA	2.0	2.0	2020	$1,850	$0.92	116d	1	0.93mi
210 Whitehall Rd Athens, GA	3.0	2.5	1425	$1,475	$1.04	0d	1	0.93mi
1005 College Station Rd Athens, GA	4.0	2.0	1536	$2,100	$1.37	6d	1	0.97mi
1905 S Milledge Ave #16 Athens, GA	2.0	2.5	1400	$1,200	$0.86	6d	1	1.02mi
109 Hunters Run Rd Athens, GA	3.0	2.0	1492	$1,740	$1.17	139d	1	1.02mi
2012 S Milledge Ave Athens, GA	3.0	2.5	2517	$2,500	$0.99	6d	1	1.02mi
2010 S Milledge Ave Athens, GA	3.0	2.0	1742	$2,100	$1.21	109d	1	1.03mi
259 Oconee River Cir Athens, GA	4.0	3.5	1518	$1,900	$1.25	139d	1	1.05mi
233 Whitehall Rd Athens, GA	3.0	3.5	2217	$1,775	$0.80	0d	1	1.05mi
255 Oconee River Cir Athens, GA	3.0	3.5	1518	$1,850	$1.22	6d	1	1.05mi
400 Ansley Dr Athens, GA	3.0	2.0	1932	$3,600	$1.86	6d	1	1.13mi
175 Habersham Way Athens, GA	4.0	2.0	1708	$1,925	$1.13	116d	1	1.14mi
230 Habersham Way Athens, GA	4.0	2.0	1608	$2,200	$1.37	6d	1	1.17mi
175 International Dr Athens, GA	4.0	4.0	1400	$1,274	$0.91	6d	5	1.18mi
595 Macon Hwy Athens, GA	4.0–5.0	3.0	2580	$1,900	$0.74	109d	2	1.18mi
595 Macon Hwy Athens, GA	4.0–5.0	3.0	2580	$2,000	$0.78	139d	2	1.18mi
2415 S Lumpkin St Unit 1200-A Athens, GA	4.0	4.5	1775	$3,200	$1.80	116d	1	1.19mi
2415 S Lumpkin St Unit 1100-A Athens, GA	3.0	3.5	1500	$3,200	$2.13	109d	1	1.19mi
380 Ansley Dr Athens, GA	3.0	2.0	1884	$3,600	$1.91	6d	1	1.19mi
2415 S Lumpkin St Unit 1300-B Athens, GA	3.0	3.5	1500	$2,775	$1.85	139d	1	1.20mi
2415 S Lumpkin St Unit 1300-B Athens, GA	4.0	4.5	1775	$2,400	$1.35	109d	1	1.20mi
360 Ansley Dr Athens, GA	3.0	2.0	1884	$3,600	$1.91	6d	1	1.22mi
188 Will Hunter Rd Athens, GA	4.0	4.0	1935	$2,200	$1.14	6d	1	1.25mi
315 Ansley Dr Athens, GA	4.0	2.0	1850	$2,450	$1.32	139d	1	1.27mi
110 International Dr Athens, GA	2.0–4.0	2.0–4.0	1110	$1,751	$1.58	6d	61	1.30mi
130 Betsy Ln Athens, GA	3.0	2.5	1589	$1,875	$1.18	6d	1	1.33mi
127 Jolly Ln Athens, GA	4.0	3.0	1473	$1,400	$0.95	6d	1	1.38mi
160 Gran Ellen Dr Athens, GA	4.0	3.0	2206	$4,600	$2.09	6d	1	1.38mi

HOA detail $364/mo · $4,368/yr

• Likely covers: pool

Listing history 50 events

1. 2026-09-24
   days on market $239,900 Active 188 DOM
2. 2026-09-22
   days on market $239,900 Active 187 DOM
3. 2026-09-21
   days on market $239,900 Active 186 DOM
4. 2026-09-20
   days on market $239,900 Active 185 DOM
5. 2026-09-18
   days on market $239,900 Active 183 DOM
6. 2026-09-17
   days on market $239,900 Active 182 DOM
7. 2026-09-16
   days on market $239,900 Active 181 DOM
8. 2026-09-15
   days on market $239,900 Active 180 DOM
9. 2026-09-14
   days on market $239,900 Active 179 DOM
10. 2026-09-13
    days on market $239,900 Active 178 DOM
11. 2026-09-12
    days on market $239,900 Active 177 DOM
12. 2026-09-11
    days on market $239,900 Active 176 DOM
13. 2026-09-05
    days on market $239,900 Active 170 DOM
14. 2026-09-04
    days on market $239,900 Active 169 DOM
15. 2026-09-03
    pricedays on market $239,900 Active 168 DOM
16. 2026-08-31
    days on market $245,900 Active 165 DOM
17. 2026-08-30
    days on market $245,900 Active 164 DOM
18. 2026-08-29
    days on market $245,900 Active 163 DOM
19. 2026-08-28
    days on market $245,900 Active 162 DOM
20. 2026-08-27
    days on market $245,900 Active 161 DOM
21. 2026-08-25
    days on market $245,900 Active 159 DOM
22. 2026-08-24
    days on market $245,900 Active 158 DOM
23. 2026-08-23
    days on market $245,900 Active 157 DOM
24. 2026-08-22
    days on market $245,900 Active 156 DOM
25. 2026-08-21
    days on market $245,900 Active 155 DOM
26. 2026-08-20
    days on market $245,900 Active 154 DOM
27. 2026-08-19
    days on market $245,900 Active 153 DOM
28. 2026-08-18
    days on market $245,900 Active 152 DOM
29. 2026-08-17
    days on market $245,900 Active 151 DOM
30. 2026-08-16
    days on market $245,900 Active 150 DOM
31. 2026-08-15
    days on market $245,900 Active 149 DOM
32. 2026-08-14
    days on market $245,900 Active 148 DOM
33. 2026-08-13
    days on market $245,900 Active 147 DOM
34. 2026-08-12
    days on market $245,900 Active 146 DOM
35. 2026-08-11
    days on market $245,900 Active 145 DOM
36. 2026-08-10
    days on market $245,900 Active 144 DOM
37. 2026-08-09
    days on market $245,900 Active 143 DOM
38. 2026-08-08
    days on market $245,900 Active 142 DOM
39. 2026-08-07
    days on market $245,900 Active 141 DOM
40. 2026-08-06
    days on market $245,900 Active 140 DOM
41. 2026-08-05
    days on market $245,900 Active 139 DOM
42. 2026-08-04
    days on market $245,900 Active 138 DOM
43. 2026-08-03
    days on market $245,900 Active 137 DOM
44. 2026-07-31
    days on market $245,900 Active 134 DOM
45. 2026-07-30
    days on market $245,900 Active 133 DOM
46. 2026-07-29
    days on market $245,900 Active 132 DOM
47. 2026-07-27
    days on market $245,900 Active 130 DOM
48. 2026-07-25
    days on market $245,900 Active 128 DOM
49. 2026-07-24
    days on market $245,900 Active 127 DOM
50. 2026-07-23
    days on market $245,900 Active 126 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,491
• − Mortgage interest: −$13,438
• − Property taxes: −$3,598
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − HOA: −$4,368
• − Depreciation: −$6,979
• Taxable loss: −$8,170
• Est. tax savings @ 24.0%: +$1,961
• After-tax cash flow: $-2,164/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $10,490–$31,470 screening

This well-maintained three-bedroom condo is move-in ready with a good condition score and potential for modest updates to enhance its resale and rental value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace sliding glass doors — Improves natural light and ventilation ↑
• Both Update flooring in bedrooms — Modernizes the space and improves rental appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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 21/100

Zoned Schools

Elementary Barnett Shoals Elementary School F GA #753/1,228 Nat'l #30,133/41,679 Middle Hilsman Middle School F GA #381/470 Nat'l #12,279/14,009 High Cedar Shoals High School

Schools (NCES district)

• District: Clarke County
• NCES district ID: 1301170
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $33,649
• Composite: 15.51/100
• National rank: #9302
• State rank: #146 of 174 in GA

Livability — Athens-Clarke County unified government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Athens-Clarke County unified government (balance), GA
• County: Clarke County · 141,365 people
• City population: 119,110
• Metro: Athens-Clarke County, GA
• Population (ZIP): 41,544
• Household income: $50,062
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 10% of renters

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Population outlook (Clarke County) Hauer SSP2

• Today (2025): 141,365 people
• By 2030: 151,724 · +7.3%
• By 2040: 168,541 · +19.2%
• By 2050: 184,855 · +30.8%
• By 2075: 221,736 · +56.9%
• By 2100: 253,853 · +79.6%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Black 24% Hispanic / Latino 9% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Italian 3% Slovak 3% Romanian 3%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 85% English-only · Spanish 7% Other Asian/Pacific 2% Chinese 1%

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Political lean MEDSL · Clarke

• 2024 margin: Solid D (+38.3) · D 68.6% · R 30.4% · Other 1.0%
• 2008→2024 swing: +7.0pp toward D · 2008: 31.3pp · 2024: 38.3pp
• All cycles: 2024: D+38.3 2020: D+42.1 2016: D+38.0 2012: D+28.9 2008: D+31.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -294.87%
• Current HPI: 252.2581
• Rent YoY: ▲ 4.83%
• Metro: Athens-Clarke County, GA
• 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

Price history

+149.6% since first listed

18 events — show timeline

• 2026-04-29 Price Changed $245,900 Hive MLS
• 2026-04-29 Price Changed $245,900 GAMLS
• 2026-03-10 Listed $259,900 Hive MLS
• 2026-03-09 Listed $259,900 GAMLS
• 2020-09-30 Sold (MLS) $140,000 Hive MLS
• 2020-08-23 Listed $140,000 Hive MLS
• 2018-07-31 Sold (MLS) $104,900 GAMLS
• 2018-07-31 Sold (MLS) $104,900 Hive MLS
• 2018-03-26 Listed $104,900 GAMLS
• 2018-03-26 Listed $104,900 Hive MLS
• 2018-02-27 Listing Removed — Hive MLS
• 2018-01-24 Listed $114,900 Hive MLS
• 2017-12-27 Listing Removed — Hive MLS
• 2017-05-15 Listed $74,900 Hive MLS
• 2013-01-18 Listing Removed — Hive MLS
• 2011-05-25 Listed $109,000 Hive MLS
• 2007-08-03 Sold (MLS) $92,000 Hive MLS
• 2006-07-03 Listed $98,500 Hive MLS