802 Colerain St · LaFayette, GA 30728

$129,500

3 bd · 2.0 ba · 992 sqft · SingleFamily public records · 34 Days on market

Built 1942 0.28 ac lot $131/sqft · 24% below area Est $171k · 24% under

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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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.9/10.0
• 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

Don't miss this cute 3 bedroom 1 bathroom right inside of lafayette city limits. This home has been newly updated with new appliances, flooring, paint and much much more. This home features two separate driveways perfect for parking, rv storage, etc. Call me for your private showing

Key facts

• 0.28 acre lot
• Built 1942
• Listed 34 days

Property features AI

Finance

• Other: Property sits on approximately 0.28 acre; Public maintained road frontage on a city street

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electricity available; Cable available; Phone available; Sewer connected; Water connected
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Block foundation; Shingle roof; Built as a residential single-family home
• Exterior features: Covered porch; No additional exterior features listed

Interior

• Kitchen: Free-standing electric range
• Bedrooms: Total of 6 rooms (bedrooms included in room count)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Free-standing electric range; Electric water heater; Crawl space basement
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: Gilbert Elementary School (math 22% / reading 22%, grade F, #810 of 1,228 statewide, top 69%, 508 students, 80% 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).
• This rent runs 30% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $895 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago 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 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,615 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 7.7

CMA / ARV

• ARV (median comp): $171,438
• List price: $129,500
• Delta: -24.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 Mclemore St	0.18mi	3/1.0	1,006 (+1%)	4mo	$20,000	$20	81
607 Thornton St	0.44mi	3/2.0	1,008 (+2%)	1mo	$170,000	$169	76
1103 Sisemore St	0.46mi	3/1.5	984 (-1%)	7mo	$155,000	$158	70
306 Cedar St	0.24mi	3/1.0	1,074 (+8%)	3mo	$174,368	$162	69
205 Cavender St	0.27mi	2/2.0 (-1)	1,050 (+6%)	5mo	$199,900	$190	69
1009 W Main St	0.26mi	3/1.5	1,102 (+11%)	1mo	$200,000	$181	66
703 Bomar St	0.51mi	3/1.0	960 (-3%)	3mo	$180,000	$188	64
1102 Chestnut St	0.45mi	3/2.0	925 (-7%)	10mo	$163,000	$176	59
239 Thurman St	0.52mi	3/1.0	1,064 (+7%)	1mo	$206,000	$194	59
318 Cedar St	0.19mi	2/1.5 (-1)	1,128 (+14%)	9mo	$65,000	$58	54
13 N Steele St	0.62mi	2/1.0 (-1)	1,054 (+6%)	5mo	$50,000	$47	48
912 Bomar St	0.38mi	3/1.0	1,140 (+15%)	9mo	$192,500	$169	46

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-3,510
• Equity at exit: $19,309

10-year hold

• IRR: 7.1%
• Equity multiple: 1.54×
• Total profit: $19,406
• Equity at exit: $11,197

Cash invested: $36,260 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,408 medium
• Mortgage (P&I): −$679
• Tax from tax record: −$105 /mo · $1,254/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $275

Break-even live

Break-even rent $1,060

Max offer price $129,500

Occupancy floor 76%

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: $32,375
• Closing costs: $3,885
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $129,500 Active 34 DOM
2. 2026-06-17
   days on market $129,500 Active 33 DOM
3. 2026-06-16
   days on market $129,500 Active 32 DOM
4. 2026-06-15
   days on market $129,500 Active 31 DOM
5. 2026-06-14
   days on market $129,500 Active 29 DOM
6. 2026-06-13
   days on market $129,500 Active 28 DOM
7. 2026-06-10
   days on market $129,500 Active 26 DOM
8. 2026-06-09
   days on market $129,500 Active 25 DOM
9. 2026-06-08
   days on market $129,500 Active 24 DOM
10. 2026-06-07
    days on market $129,500 Active 23 DOM
11. 2026-06-05
    days on market $129,500 Active 20 DOM
12. 2026-06-03
    pricedays on market $129,500 Active 19 DOM
13. 2026-06-02
    days on market $136,000 Active 18 DOM
14. 2026-06-01
    days on market $136,000 Active 17 DOM
15. 2026-05-31
    days on market $136,000 Active 16 DOM
16. 2026-05-30
    days on market $136,000 Active 15 DOM
17. 2026-05-14
    listed $136,000 Active 371-char remark
18. 2023-04-24
    soldstatus $146,000
19. 2023-04-07
    soldstatus $146,000 Closed 283-char remark

    Show marketing remark (283 chars)

    Don't miss this cute 3 bedroom 1 bathroom right inside of lafayette city limits. This home has been newly updated with new appliances, flooring, paint and much much more. This home features two separate driveways perfect for parking, rv storage, etc. Call me for your private showing

20. 2023-03-20
    historical Contingent 283-char remark

    Show marketing remark (283 chars)

    Don't miss this cute 3 bedroom 1 bathroom right inside of lafayette city limits. This home has been newly updated with new appliances, flooring, paint and much much more. This home features two separate driveways perfect for parking, rv storage, etc. Call me for your private showing

21. 2023-02-08
    price $139,999 283-char remark

    Show marketing remark (283 chars)

    Don't miss this cute 3 bedroom 1 bathroom right inside of lafayette city limits. This home has been newly updated with new appliances, flooring, paint and much much more. This home features two separate driveways perfect for parking, rv storage, etc. Call me for your private showing

22. 2023-02-01
    listed $149,999 Active 283-char remark

    Show marketing remark (283 chars)

    Don't miss this cute 3 bedroom 1 bathroom right inside of lafayette city limits. This home has been newly updated with new appliances, flooring, paint and much much more. This home features two separate driveways perfect for parking, rv storage, etc. Call me for your private showing

23. 2019-09-20
    soldstatus $20,000 Closed

    Show marketing remark (237 chars)

    Investors special. Fixer upper. 'Due to the condition, the property may have health/safety risk(s). Prior to entry all parties must sign a Hold Harmless Agreement and the property may only be shown by appointment. Home being sold AS-IS.

24. 2019-09-19
    soldstatus $20,000
25. 2019-09-03
    historical

    Show marketing remark (237 chars)

    Investors special. Fixer upper. 'Due to the condition, the property may have health/safety risk(s). Prior to entry all parties must sign a Hold Harmless Agreement and the property may only be shown by appointment. Home being sold AS-IS.

26. 2019-08-30
    listed $25,000 Active

    Show marketing remark (237 chars)

    Investors special. Fixer upper. 'Due to the condition, the property may have health/safety risk(s). Prior to entry all parties must sign a Hold Harmless Agreement and the property may only be shown by appointment. Home 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: $1,254 · $105/mo
• Projected year-2 tax: $1,254 · $105/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 5/10 Major 7 d/yr ≥104°F today · 19 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: $16,894
• − Mortgage interest: −$7,254
• − Property taxes: −$1,254
• − Insurance: −$648
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$3,767
• Taxable income: $1,268
• Est. tax owed @ 24.0%: −$304
• After-tax cash flow: $2,991/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

+418.0% since first listed

11 events — show timeline

• 2026-06-03 Price Changed $129,500 GCAR
• 2026-05-14 Listed $136,000 GCAR
• 2023-04-24 Sold (Public Records) $146,000 Public Records
• 2023-04-07 Sold (MLS) $146,000 GCAR
• 2023-03-20 Contingent — GCAR
• 2023-02-08 Price Changed $139,999 GCAR
• 2023-02-01 Listed $149,999 GCAR
• 2019-09-20 Sold (MLS) $20,000 GCAR
• 2019-09-19 Sold (Public Records) $20,000 Public Records
• 2019-09-03 Delisted — GCAR
• 2019-08-30 Listed $25,000 GCAR

Property tax history

+11.4%/yr

Latest (2025): $1,254 · -0.1% YoY. Source: county tax records.