30 Laurie Ln · Covington, GA 30016

$249,150

3 bd · 2.0 ba · 1,453 sqft · SingleFamily public records · 41 Days on market

Built 1983 0.65 ac lot $171/sqft · at area comps Est $254k · at est.

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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).

• Cash flow +14.2/30.0
• ARV discount +8.4/15.0
• DSCR +4.3/10.0
• 1% rule +3.1/10.0
• Rent growth +3.0/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming move-in ready very clean 3-bedroom & 2-bathroom ranch home located just minutes from the famous Covington Square! Tucked away on a quiet & secluded street this property features new LVP flooring throughout the main areas of the home, new carpet in the bedrooms, new paint inside & out, new light fixtures & hardware, solid surface kitchen countertops, custom built gas fireplace, new HVAC, new bathroom vanity in the ensuite, split bedroom plan, new water heater, new septic system and metal roof that has been tuned up and inspected. Property is completely fenced in and includes a new deck, private backyard, great storage shed and private driveway with attached carport. This property does qualify for 100% financing!! Great location close to shopping, dining, schools & I-20!

Key facts

• Private backyard
• New deck
• New lvp flooring

Tags

• NEW LVP FLOORING
• CUSTOM BUILT GAS FIREPLACE
• NEW KITCHEN APPLIANCES
• NEW BATHROOM VANITIES
• PRIVATE BACKYARD
• NEW DECK

Property features AI

Exterior

• Parking: Two total parking spaces; One carport space; Carport and covered parking; Driveway with level access; Open parking available
• Utilities: Public water; Septic tank sewer; Electricity available; Natural gas available; Water available; Electric service listed as other
• Home design: One-level home; Metal roof; HardiPlank-type exterior; Crawl space foundation; Updated/remodeled condition
• Construction: HardiPlank-type siding; Metal roof; Crawl space foundation; Built or updated with modern finishes (updated/remodeled)
• Exterior features: Private entrance; Private yard; Deck; Back and front yard fencing (chain link, fenced); Shed(s)

Interior

• Kitchen: Solid surface counters; View to family room; Electric oven; Gas cooktop; Dishwasher
• Bedrooms: Three main-level bedrooms; Master on main; Split bedroom plan
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; Master bathroom with separate tub and shower
• Heating & cooling: Central heating; Central air
• Interior features: High speed internet; Updated/remodeled; One fireplace in the living room; No common walls; Attic and other bonus spaces
• Laundry & utility: Washer and dryer included; Laundry located in kitchen/laundry room on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $41 ($497/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 $201k (19.1% below list).
• Recommended offer: $201k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.8% in Covington — 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 59/100 on livability (#396 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Heard-Mixon Elementary School (math 17% / reading 22%, grade F, #878 of 1,228 statewide, top 75%, 427 students, 85% FRL); Indian Creek Middle School (math 18% / reading 30%, grade F, #311 of 470 statewide, top 68%, 814 students, 85% FRL); Alcovy High School (math 3% / reading 12%, grade F, #378 of 424 statewide, top 91%, 1,991 students, 55% FRL) — zoned schools average 75% FRL vs 59% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 419 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).
• This rent runs 30% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $108k; list at $249k implies a 131% 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,465 (19.1% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 19% 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 F 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. 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?
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: 0.81% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.71%
• DSCR: 1.03
• GRM: 10.3

CMA / ARV

• ARV (median comp): $254,385
• List price: $249,150
• Delta: -2.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Laurie Ln	0.06mi	3/2.0	1,300 (-10%)	13mo	$270,000	$208	69
559 Anderson Creek Rd	0.45mi	3/2.0	1,400 (-4%)	22mo	$279,000	$199	55
550 Anderson Creek Rd	0.42mi	3/2.0	1,248 (-14%)	3mo	$177,000	$142	54
35 Mabry Place Ct	0.52mi	3/2.0	1,596 (+10%)	8mo	$243,900	$153	53
75 Windridge Dr	0.22mi	3/2.0	1,243 (-14%)	19mo	$239,900	$193	50
10 Mabry Place Ct	0.45mi	3/2.0	1,554 (+7%)	23mo	$280,000	$180	48

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 · 1.84% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-40,135
• Equity at exit: $37,149

10-year hold

• IRR: -10.2%
• Equity multiple: 0.41×
• Total profit: $-41,175
• Equity at exit: $21,542

Cash invested: $69,762 (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 30016

• Home prices YoY: -8.6%
• Rents YoY: 1.8%
• Active inventory: 419
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,015 medium
• Mortgage (P&I): −$1,307
• Tax from tax record: −$140 /mo · $1,677/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $41

Break-even live

Break-even rent $1,962

Max offer price $249,150

Occupancy floor 93%

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: $62,288
• Closing costs: $7,474
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Bachelor Rd Covington, GA	3.0	2.0	1461	$1,860	$1.27	43d	1	0.20mi
45 Deadwood Ln Covington, GA	3.0	2.0	1460	$1,835	$1.26	43d	1	0.92mi
20 Carver Dr Covington, GA	3.0	2.0	1400	$1,695	$1.21	43d	1	1.02mi

Listing history 27 events

1. 2026-06-18
   days on market $249,150 Active 41 DOM
2. 2026-06-17
   days on market $249,150 Active 40 DOM
3. 2026-06-16
   days on market $249,150 Active 39 DOM
4. 2026-06-15
   days on market $249,150 Active 38 DOM
5. 2026-06-13
   days on market $249,150 Active 36 DOM
6. 2026-06-13
   days on market $249,150 Active 35 DOM
7. 2026-06-09
   days on market $249,150 Active 32 DOM
8. 2026-06-08
   days on market $249,150 Active 31 DOM
9. 2026-06-07
   days on market $249,150 Active 30 DOM
10. 2026-06-04
    days on market $249,150 Active 27 DOM
11. 2026-06-03
    pricedays on market $249,150 Active 26 DOM

    Show marketing remark (808 chars)

    Charming move-in ready very clean 3-bedroom & 2-bathroom ranch home located just minutes from the famous Covington Square! Tucked away on a quiet & secluded street this property features new LVP flooring throughout the main areas of the home, new carpet in the bedrooms, new paint inside & out, new light fixtures & hardware, solid surface kitchen countertops, custom built gas fireplace, new HVAC, new bathroom vanity in the ensuite, split bedroom plan, new water heater, new septic system and metal roof that has been tuned up and inspected. Property is completely fenced in and includes a new deck, private backyard, great storage shed and private driveway with attached carport. This property does qualify for 100% financing!! Great location close to shopping, dining, schools & I-20!

12. 2026-06-02
    days on market $249,900 Active 25 DOM
13. 2026-06-01
    days on market $249,900 Active 24 DOM
14. 2026-05-31
    days on market $249,900 Active 23 DOM
15. 2026-05-08
    listed $249,900 Active 760-char remark
16. 2026-04-29
    listed $249,900 New 808-char remark

    Show marketing remark (808 chars)

    Charming move-in ready very clean 3-bedroom & 2-bathroom ranch home located just minutes from the famous Covington Square! Tucked away on a quiet & secluded street this property features new LVP flooring throughout the main areas of the home, new carpet in the bedrooms, new paint inside & out, new light fixtures & hardware, solid surface kitchen countertops, custom built gas fireplace, new HVAC, new bathroom vanity in the ensuite, split bedroom plan, new water heater, new septic system and metal roof that has been tuned up and inspected. Property is completely fenced in and includes a new deck, private backyard, great storage shed and private driveway with attached carport. This property does qualify for 100% financing!! Great location close to shopping, dining, schools & I-20!

17. 2026-03-03
    soldstatus $108,000
18. 2026-02-27
    soldstatus $108,000 Sold

    Show marketing remark (424 chars)

    Do It Yourself(rs) and Investors and .... take note! Conveniently located close to town yet tucked away on a quiet, secluded street with a fenced yard. This property offers strong potential for renovation and resale or rental. Visually, this home needs extensive cleanup, drywall repair, and paint. Durable metal roof believed to be 5 yrs old. Great opportunity to add value in a desirable setting. Price reflects condition.

19. 2026-02-27
    soldstatus $108,000 Closed

    Show marketing remark (424 chars)

    Do It Yourself(rs) and Investors and .... take note! Conveniently located close to town yet tucked away on a quiet, secluded street with a fenced yard. This property offers strong potential for renovation and resale or rental. Visually, this home needs extensive cleanup, drywall repair, and paint. Durable metal roof believed to be 5 yrs old. Great opportunity to add value in a desirable setting. Price reflects condition.

20. 2026-02-06
    status Under Contract

    Show marketing remark (424 chars)

    Do It Yourself(rs) and Investors and .... take note! Conveniently located close to town yet tucked away on a quiet, secluded street with a fenced yard. This property offers strong potential for renovation and resale or rental. Visually, this home needs extensive cleanup, drywall repair, and paint. Durable metal roof believed to be 5 yrs old. Great opportunity to add value in a desirable setting. Price reflects condition.

21. 2026-02-06
    status Pending

    Show marketing remark (424 chars)

    Do It Yourself(rs) and Investors and .... take note! Conveniently located close to town yet tucked away on a quiet, secluded street with a fenced yard. This property offers strong potential for renovation and resale or rental. Visually, this home needs extensive cleanup, drywall repair, and paint. Durable metal roof believed to be 5 yrs old. Great opportunity to add value in a desirable setting. Price reflects condition.

22. 2026-02-02
    price $140,000

    Show marketing remark (424 chars)

    Do It Yourself(rs) and Investors and .... take note! Conveniently located close to town yet tucked away on a quiet, secluded street with a fenced yard. This property offers strong potential for renovation and resale or rental. Visually, this home needs extensive cleanup, drywall repair, and paint. Durable metal roof believed to be 5 yrs old. Great opportunity to add value in a desirable setting. Price reflects condition.

23. 2026-02-02
    price $140,000

    Show marketing remark (424 chars)

    Do It Yourself(rs) and Investors and .... take note! Conveniently located close to town yet tucked away on a quiet, secluded street with a fenced yard. This property offers strong potential for renovation and resale or rental. Visually, this home needs extensive cleanup, drywall repair, and paint. Durable metal roof believed to be 5 yrs old. Great opportunity to add value in a desirable setting. Price reflects condition.

24. 2026-01-30
    listed $185,000 Active
25. 2026-01-30
    historical $185,000
26. 2026-01-28
    listed $185,000 New

    Show marketing remark (424 chars)

    Do It Yourself(rs) and Investors and .... take note! Conveniently located close to town yet tucked away on a quiet, secluded street with a fenced yard. This property offers strong potential for renovation and resale or rental. Visually, this home needs extensive cleanup, drywall repair, and paint. Durable metal roof believed to be 5 yrs old. Great opportunity to add value in a desirable setting. Price reflects condition.

27. 1998-04-23
    soldstatus $74,900

ⓘ 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: $1,677 · $140/mo
• Projected year-2 tax: $2,292 · $191/mo
• Expected delta: +$615/yr (+$51/mo · 36.7%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,176
• − Mortgage interest: −$13,956
• − Property taxes: −$1,677
• − Insurance: −$1,246
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − Depreciation: −$7,248
• Taxable loss: −$3,820
• Est. tax savings @ 24.0%: +$917
• After-tax cash flow: $1,414/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: Newton County
• NCES district ID: 1303930
• Math proficiency: 17% ▼ -13.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $50,768
• Composite: 19.2/100
• National rank: #8816
• State rank: #137 of 174 in GA

Livability — Covington

• Score: 59/100
• State rank: #396
• US rank: #19602

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Newton County · 104,393 people
• City population: 104,393
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,968
• Household income: $79,527
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 1172.0

Population outlook (Newton County) Hauer SSP2

• Today (2025): 118,372 people
• By 2030: 124,234 · +5.0%
• By 2040: 135,550 · +14.5%
• By 2050: 145,309 · +22.8%
• By 2075: 166,843 · +40.9%
• By 2100: 175,800 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Newton

• 2024 margin: D (+15.1) · D 57.3% · R 42.2%
• 2008→2024 swing: +14.0pp toward D · 2008: 1.2pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+10.9 2016: D+2.4 2012: D+2.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.68%
• Current HPI: 317.5605
• Rent YoY: ▲ 1.84%
• Metro: Atlanta-Sandy Springs-Alpharetta, 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

+232.6% since first listed

15 events — show timeline

• 2026-06-03 Price Changed $249,150 FMLS
• 2026-06-03 Price Changed $249,150 GAMLS
• 2026-05-08 Listed $249,900 FMLS
• 2026-04-29 Listed $249,900 GAMLS
• 2026-03-03 Sold (Public Records) $108,000 Public Records
• 2026-02-27 Sold (MLS) $108,000 FMLS
• 2026-02-27 Sold (MLS) $108,000 GAMLS
• 2026-02-06 Pending — GAMLS
• 2026-02-06 Pending — FMLS
• 2026-02-02 Price Changed $140,000 FMLS
• 2026-02-02 Price Changed $140,000 GAMLS
• 2026-01-30 Listed $185,000 FMLS
• 2026-01-30 Coming Soon $185,000 FMLS
• 2026-01-28 Listed $185,000 GAMLS
• 1998-04-23 Sold (Public Records) $74,900 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,677 · +7.1% YoY. Source: county tax records.