181 Walnut St · Leesburg, GA 31763

$135,000

2 bd · 2.0 ba · 2,315 sqft · SingleFamily public records · 118 Days on market

Built 1930 0.48 ac lot $58/sqft · 32% below area Est $198k · 32% under

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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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.6/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Southern Charm with Endless Potential!! Step into this historic 1930 home full of character and opportunity! Featuring 3 bedrooms and 2.5 baths, this property showcases timeless details including hardwood floors, wide baseboards, large bedrooms, and oversized windows that fill the home with natural light. Recent improvements provide peace of mind, including a new roof and HVAC system installed in 2021, as well as the appliances that will remain with the home. Outside, you will find a fenced-in backyard and a wired storage space perfect for hobbies, storage, or future projects. With just a little tender love and care, this charming home can easily be transformed into the home of your dreams. Whether you're an investor or a buyer looking to add your personal touch this is the home for you! Call your realtor today to schedule a tour!

Key facts

• Fenced in backyard
• Wired storage space
• Hvac system

Tags

• HISTORIC HOME
• HARDWOOD FLOORS
• FENCED IN BACKYARD
• WIRED STORAGE SPACE
• NEW ROOF
• HVAC SYSTEM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#135 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Lee County (rural): math 44% / reading 45% proficiency, ranked #21 of 174 in GA (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 204 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 133 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lee County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $48k; list at $135k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 90% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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: 1.16% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.13%
• DSCR: 1.50
• GRM: 7.2

CMA / ARV

• ARV (median comp): $198,103
• List price: $135,000
• Delta: -31.85%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.22% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-771
• Equity at exit: $20,129

10-year hold

• IRR: 8.3%
• Equity multiple: 1.61×
• Total profit: $23,131
• Equity at exit: $11,672

Cash invested: $37,800 (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 31763

• Home prices YoY: -15.9%
• Rents YoY: 2.2%
• Active inventory: 204
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,572 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$127 /mo · $1,522/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $351

Break-even live

Break-even rent $1,128

Max offer price $135,000

Occupancy floor 73%

Sensitivity live

Price	-10% $427	-5% $389	+0% $351	+5% $312	+10% $274
Rent	-10% $226	-5% $289	+0% $351	+5% $413	+10% $475
Rate	-1.0pp $419	-0.5pp $385	base $351	+0.5pp $316	+1.0pp $280

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 Senah Dr Leesburg, GA	3.0	2.0	1733	$2,035	$1.17	22d	1	0.94mi

Listing history 22 events

1. 2026-06-21
   days on market $135,000 Active 118 DOM
2. 2026-06-19
   days on market $135,000 Active 116 DOM
3. 2026-06-18
   days on market $135,000 Active 115 DOM
4. 2026-06-17
   days on market $135,000 Active 114 DOM
5. 2026-06-16
   days on market $135,000 Active 113 DOM
6. 2026-06-15
   days on market $135,000 Active 112 DOM
7. 2026-06-14
   days on market $135,000 Active 110 DOM
8. 2026-06-13
   pricedays on market $135,000 Active 109 DOM
9. 2026-06-10
   days on market $152,000 Active 107 DOM
10. 2026-06-09
    days on market $152,000 Active 106 DOM
11. 2026-06-08
    days on market $152,000 Active 105 DOM
12. 2026-06-07
    days on market $152,000 Active 104 DOM
13. 2026-06-05
    days on market $152,000 Active 101 DOM
14. 2026-06-03
    days on market $152,000 Active 100 DOM
15. 2026-06-02
    days on market $152,000 Active 99 DOM
16. 2026-06-01
    days on market $152,000 Active 98 DOM
17. 2026-05-31
    days on market $152,000 Active 97 DOM
18. 2026-05-30
    days on market $152,000 Active 96 DOM
19. 2026-04-14
    price $152,000 842-char remark

    Show marketing remark (842 chars)

    Southern Charm with Endless Potential!! Step into this historic 1930 home full of character and opportunity! Featuring 3 bedrooms and 2.5 baths, this property showcases timeless details including hardwood floors, wide baseboards, large bedrooms, and oversized windows that fill the home with natural light. Recent improvements provide peace of mind, including a new roof and HVAC system installed in 2021, as well as the appliances that will remain with the home. Outside, you will find a fenced-in backyard and a wired storage space perfect for hobbies, storage, or future projects. With just a little tender love and care, this charming home can easily be transformed into the home of your dreams. Whether you're an investor or a buyer looking to add your personal touch this is the home for you! Call your realtor today to schedule a tour!

20. 2026-03-25
    price $160,000 842-char remark

    Show marketing remark (842 chars)

    Southern Charm with Endless Potential!! Step into this historic 1930 home full of character and opportunity! Featuring 3 bedrooms and 2.5 baths, this property showcases timeless details including hardwood floors, wide baseboards, large bedrooms, and oversized windows that fill the home with natural light. Recent improvements provide peace of mind, including a new roof and HVAC system installed in 2021, as well as the appliances that will remain with the home. Outside, you will find a fenced-in backyard and a wired storage space perfect for hobbies, storage, or future projects. With just a little tender love and care, this charming home can easily be transformed into the home of your dreams. Whether you're an investor or a buyer looking to add your personal touch this is the home for you! Call your realtor today to schedule a tour!

21. 2026-02-24
    listed $175,000 Active 842-char remark

    Show marketing remark (842 chars)

    Southern Charm with Endless Potential!! Step into this historic 1930 home full of character and opportunity! Featuring 3 bedrooms and 2.5 baths, this property showcases timeless details including hardwood floors, wide baseboards, large bedrooms, and oversized windows that fill the home with natural light. Recent improvements provide peace of mind, including a new roof and HVAC system installed in 2021, as well as the appliances that will remain with the home. Outside, you will find a fenced-in backyard and a wired storage space perfect for hobbies, storage, or future projects. With just a little tender love and care, this charming home can easily be transformed into the home of your dreams. Whether you're an investor or a buyer looking to add your personal touch this is the home for you! Call your realtor today to schedule a tour!

22. 2021-07-21
    soldstatus $48,000

ⓘ 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: $1,522 · $127/mo
• Projected year-2 tax: $1,522 · $127/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 8/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 90% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,861
• − Mortgage interest: −$7,562
• − Property taxes: −$1,522
• − Insurance: −$675
• − Repairs & maintenance: −$1,509
• − Management: −$1,509
• − Depreciation: −$3,927
• Taxable income: $2,157
• Est. tax owed @ 24.0%: −$518
• After-tax cash flow: $3,690/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: Lee County
• NCES district ID: 1303270
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $60,449
• Composite: 39.23/100
• National rank: #4009
• State rank: #21 of 174 in GA

Livability — Leesburg

• Score: 68/100
• State rank: #135
• US rank: #9283

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leesburg, GA
• County: Lee County · 29,271 people
• City population: 29,271
• Metro: Albany, GA
• Population (ZIP): 29,271
• Household income: $88,312
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 700.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 31,140 people
• By 2030: 31,753 · +2.0%
• By 2040: 32,710 · +5.0%
• By 2050: 33,476 · +7.5%
• By 2075: 35,113 · +12.8%
• By 2100: 34,821 · +11.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 24% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Korean 1% Other Indo-European 1%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+43.5) · D 28.0% · R 71.6%
• 2008→2024 swing: +8.6pp toward D · 2008: -52.1pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+44.6 2016: R+53.0 2012: R+52.4 2008: R+52.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.33%
• Current HPI: 187.3672
• Rent YoY: ▲ 2.22%
• Metro: Albany, 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

+216.7% since first listed

4 events — show timeline

• 2026-04-14 Price Changed $152,000 SWGABOR
• 2026-03-25 Price Changed $160,000 SWGABOR
• 2026-02-24 Listed $175,000 SWGABOR
• 2021-07-21 Sold (Public Records) $48,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,522 · +32.6% YoY. Source: county tax records.