50 College St · Royston, GA 30662

$190,000

3 bd · 1.5 ba · 1,344 sqft · Manufactured public records · 57 Days on market

Built 1983 0.74 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 +16.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• 1% rule +4.4/10.0
• Livability +2.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming and affordable home located in the heart of Royston! This 3-bedroom, 2-bath residence offers approximately 1,344 square feet of living space and sits on a spacious 0.74-acre lot, providing plenty of room to enjoy outdoor living. Built in 1983, with recent updates, the home features a functional layout with comfortable living areas, making it ideal for both owner-occupants and investors alike. Enjoy the convenience of in-town living with easy access to local shops, dining, and schools, while still benefiting from a large lot that offers privacy and flexibility. Whether you're looking for a primary residence, rental opportunity, or a property with room to expand, this home presents e

Key facts

• Excellent potential
• 0.74 acre lot
• Built 1983

Tags

• SPACIOUS 0.74-ACRE LOT
• EASY ACCESS TO LOCAL SHOPS
• PRIVACY AND FLEXIBILITY
• EXCELLENT POTENTIAL

Property features AI

Finance

• Other: Lot size approximately 0.74 acres
• Financial info: Listing offered As-Is; Estate owned; Accepts Cash, Conventional, FHA
• HOA & community: No homeowners association

Exterior

• Parking: Off-street parking; Parking pad; Open parking
• Utilities: Public water; Public sewer; 220-volt electric service; Electricity available; Phone available; Sewer connected; Water available
• Home design: Manufactured house; Manufactured / mixed-use property; One story
• Construction: Built in 1983; Vinyl siding; Metal roof; Block foundation
• Exterior features: Deck; Porch; City lot; Level lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating (electric, heat pump); Central air (heat pump, electric); Ceiling fan(s)
• Interior features: Beamed ceilings; Separate shower; Soaking tub; Split bedroom floor plan; Tray ceilings; Walk-in closet(s); Dining room / Living room combo; Family room
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/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 $179k (6.0% below list).
• Recommended offer: $179k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.0% in Royston — 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 58/100 on livability (#421 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A, crime B+; Watch: amenities F, commute F, employment F.
• Hart County (town): math 32% / reading 33% proficiency, ranked #82 of 174 in GA (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Hart Elementary School (math 38% / reading 35%, grade F, #509 of 1,228 statewide, top 42%, 656 students, 57% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: 96 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 170 units permitted in Hart County in 2024 (8 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Hart County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $190k implies a 764% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,548 (6.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 6% 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. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.20%
• DSCR: 1.10
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.9%
• Equity multiple: 3.06×
• Total profit: $109,715
• Equity at exit: $171,167

10-year hold

• IRR: 22.7%
• Equity multiple: 6.98×
• Total profit: $318,263
• Equity at exit: $369,128

Cash invested: $53,200 (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 →

ZIP-level market 30662

• Home prices YoY: 17.9%
• Active inventory: 96
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,785 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $97

Break-even live

Break-even rent $1,662

Max offer price $190,000

Occupancy floor 90%

Sensitivity live

Price	-10% $229	-5% $163	+0% $97	+5% $32	+10% $-34
Rent	-10% $-44	-5% $27	+0% $97	+5% $168	+10% $239
Rate	-1.0pp $193	-0.5pp $146	base $97	+0.5pp $48	+1.0pp $-2

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 Carlton St Unit 145 Royston, GA	2.0	1.5	1000	$1,200	$1.20	14d	1	0.33mi
20 Breanna Way Royston, GA	3.0	2.5	1380	$2,500	$1.81	14d	1	0.41mi
22 Freedom Point Rd Royston, GA	3.0	2.0	1800	$1,500	$0.83	14d	1	1.43mi

Listing history 27 events

1. 2026-06-19
   days on market $190,000 Active 57 DOM
2. 2026-06-18
   days on market $190,000 Active 56 DOM
3. 2026-06-17
   days on market $190,000 Active 55 DOM
4. 2026-06-16
   days on market $190,000 Active 54 DOM
5. 2026-06-15
   statusdays on market $190,000 Active 53 DOM
6. 2026-06-14
   days on market $190,000 Price Change 51 DOM
7. 2026-06-13
   pricestatusdays on market $190,000 Price Change 50 DOM
8. 2026-06-10
   days on market $200,000 Active 48 DOM
9. 2026-06-09
   days on market $200,000 Active 47 DOM
10. 2026-06-08
    days on market $200,000 Active 46 DOM
11. 2026-06-07
    days on market $200,000 Active 45 DOM
12. 2026-06-02
    days on market $200,000 Active 40 DOM
13. 2026-06-01
    days on market $200,000 Active 39 DOM
14. 2026-05-31
    days on market $200,000 Active 38 DOM
15. 2026-05-30
    days on market $200,000 Active 37 DOM
16. 2026-04-14
    listed $200,000 New 744-char remark
17. 2025-08-21
    historical
18. 2025-08-12
    price $199,900
19. 2025-06-16
    listed $219,000 New
20. 2025-06-15
    historical
21. 2025-06-09
    price $219,000
22. 2025-04-30
    historical
23. 2025-04-29
    listed $229,000 New
24. 2025-04-08
    price $229,000
25. 2025-02-20
    listed $239,000 New
26. 2019-09-18
    soldstatus $22,000
27. 2014-03-19
    soldstatus $25,000

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,426
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$1,714
• − Management: −$1,714
• − Depreciation: −$5,527
• Taxable loss: −$1,973
• Est. tax savings @ 24.0%: +$473
• After-tax cash flow: $1,643/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: Hart County
• NCES district ID: 1302730
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $37,494
• Composite: 27.08/100
• National rank: #7047
• State rank: #82 of 174 in GA

Livability — Royston

• Score: 58/100
• State rank: #421
• US rank: #20753

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Royston, GA
• County: Franklin County · 7,950 people
• City population: 7,950
• Metro: Athens-Clarke County, GA
• Population (ZIP): 7,950
• Household income: $53,487
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 72.0

Population outlook (Hart County) Hauer SSP2

• Today (2025): 25,855 people
• By 2030: 25,887 · +0.1%
• By 2040: 25,627 · -0.9%
• By 2050: 24,939 · -3.5%
• By 2075: 23,150 · -10.5%
• By 2100: 19,492 · -24.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 11% Two or more races 5% Hispanic / Latino 4% Asian 4%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Vietnam, Canada
• Languages at home: 91% English-only · Vietnamese 4% Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Hart

• 2024 margin: Solid R (+54.8) · D 22.4% · R 77.2%
• 2008→2024 swing: -23.1pp toward R · 2008: -31.7pp · 2024: -54.8pp
• All cycles: 2024: R+54.8 2020: R+49.6 2016: R+46.7 2012: R+38.4 2008: R+31.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 62.43%
• Current HPI: 410.693
• Rent YoY: —
• Metro: Athens-Clarke County, 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

+660.0% since first listed

13 events — show timeline

• 2026-06-12 Price Changed $190,000 GAMLS
• 2026-04-14 Listed $200,000 GAMLS
• 2025-08-21 Listing Removed — GAMLS
• 2025-08-12 Price Changed $199,900 GAMLS
• 2025-06-16 Listed $219,000 GAMLS
• 2025-06-15 Listing Removed — GAMLS
• 2025-06-09 Price Changed $219,000 GAMLS
• 2025-04-30 Listing Removed — GAMLS
• 2025-04-29 Listed $229,000 GAMLS
• 2025-04-08 Price Changed $229,000 GAMLS
• 2025-02-20 Listed $239,000 GAMLS
• 2019-09-18 Sold (Public Records) $22,000 Public Records
• 2014-03-19 Sold (Public Records) $25,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $192 · -2.3% YoY. Source: county tax records.