302 E Lovett St · Sparks, GA 31647

$47,500

3 bd · 2.0 ba · 1,482 sqft · SingleFamily public records · 36 Days on market

Built 1954 0.45 ac lot $32/sqft · 58% below area ↓ 5% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Great 3 bed/2 bath property in the heart of Sparks! Living room with fireplace. Kitchen/dining room combo. Large lot with exterior storage building. Seller Pays: Buyer uses Premium Title Services, the seller's preferred title partner and closing agent. This lets the buyer bypass the title insurance fee, related search costs and reduced escrow/ settlement fees, since the seller will cover those charges. The average charges for title search and insurance is $1225 & escrow/ settlement fees is $875, resulting in an overall savings of ~$1660 for buyers, who opt for Premium Title Services.

Key facts

• Large lot
• 0.45 acre lot
• Listed 36 days

Tags

• LIVING ROOM WITH FIREPLACE
• KITCHEN DINING ROOM COMBO
• LARGE LOT
• EXTERIOR STORAGE BUILDING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Residential property (house); Zoned R3
• Construction: Brick veneer construction
• Exterior features: Shingle roof; Irregular lot

Interior

• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Interior features: Vinyl flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $46k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#225 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Cook County (rural): math 29% / reading 27% proficiency, ranked #111 of 174 in GA (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cook Primary School (839 students, 83% FRL); Cook County Middle School (math 27% / reading 25%, grade F, #286 of 470 statewide, top 61%, 714 students, 67% FRL); Cook High School (math 32% / reading 39%, grade F, #81 of 424 statewide, top 19%, 909 students, 67% FRL).
• Market conditions: 6 active listings in the ZIP; 47 units permitted in Cook County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $328 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Cook County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-2.2% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $2k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $46,075 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1954 — 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. 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: 2.57% ✓
• Cap rate: 22.91%
• Cash-on-cash: 59.34%
• DSCR: 3.64
• GRM: 3.2

CMA / ARV

• ARV (median comp): $111,806
• List price: $47,500
• Delta: -57.52%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Janet St	0.73mi	3/1.0	1,325 (-11%)	12mo	$160,000	$121	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 58.8%
• Equity multiple: 3.69×
• Total profit: $35,793
• Equity at exit: $8,784

10-year hold

• IRR: 62.9%
• Equity multiple: 7.51×
• Total profit: $86,533
• Equity at exit: $7,090

Cash invested: $13,300 (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 31647

• Home prices YoY: -1.4%
• Active inventory: 6
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,220 medium
• Mortgage (P&I): −$249
• Tax from tax record: −$37 /mo · $450/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $658

Break-even live

Break-even rent $388

Max offer price $47,500

Occupancy floor 41%

Sensitivity live

Price	-10% $685	-5% $671	+0% $658	+5% $644	+10% $631
Rent	-10% $561	-5% $609	+0% $658	+5% $706	+10% $754
Rate	-1.0pp $682	-0.5pp $670	base $658	+0.5pp $645	+1.0pp $633

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: $11,875
• Closing costs: $1,425
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   status $47,500 Pending 36 DOM
2. 2026-06-18
   days on market $47,500 Active 36 DOM
3. 2026-06-17
   days on market $47,500 Active 35 DOM
4. 2026-06-16
   days on market $47,500 Active 34 DOM
5. 2026-06-15
   days on market $47,500 Active 33 DOM
6. 2026-06-14
   days on market $47,500 Active 31 DOM
7. 2026-06-12
   days on market $47,500 Active 30 DOM
8. 2026-06-09
   pricedays on market $47,500 Active 27 DOM

   Show marketing remark (596 chars)

   Great 3 bed/2 bath property in the heart of Sparks! Living room with fireplace. Kitchen/dining room combo. Large lot with exterior storage building. Seller Pays: Buyer uses Premium Title Services, the seller's preferred title partner and closing agent. This lets the buyer bypass the title insurance fee, related search costs and reduced escrow/ settlement fees, since the seller will cover those charges. The average charges for title search and insurance is $1225 & escrow/ settlement fees is $875, resulting in an overall savings of ~$1660 for buyers, who opt for Premium Title Services.

9. 2026-06-08
   days on market $50,000 Active 26 DOM
10. 2026-06-07
    days on market $50,000 Active 25 DOM
11. 2026-06-05
    days on market $50,000 Active 23 DOM
12. 2026-06-03
    days on market $50,000 Active 21 DOM
13. 2026-06-02
    days on market $50,000 Active 20 DOM
14. 2026-06-01
    days on market $50,000 Active 19 DOM
15. 2026-05-31
    days on market $50,000 Active 18 DOM
16. 2026-05-30
    days on market $50,000 Active 17 DOM
17. 2026-05-13
    listed $50,000 Active 597-char remark

    Show marketing remark (596 chars)

    Great 3 bed/2 bath property in the heart of Sparks! Living room with fireplace. Kitchen/dining room combo. Large lot with exterior storage building. Seller Pays: Buyer uses Premium Title Services, the seller's preferred title partner and closing agent. This lets the buyer bypass the title insurance fee, related search costs and reduced escrow/ settlement fees, since the seller will cover those charges. The average charges for title search and insurance is $1225 & escrow/ settlement fees is $875, resulting in an overall savings of ~$1660 for buyers, who opt for Premium Title Services.

18. 2026-05-13
    listed $50,000 Active 596-char remark

    Show marketing remark (596 chars)

    Great 3 bed/2 bath property in the heart of Sparks! Living room with fireplace. Kitchen/dining room combo. Large lot with exterior storage building. Seller Pays: Buyer uses Premium Title Services, the seller's preferred title partner and closing agent. This lets the buyer bypass the title insurance fee, related search costs and reduced escrow/ settlement fees, since the seller will cover those charges. The average charges for title search and insurance is $1225 & escrow/ settlement fees is $875, resulting in an overall savings of ~$1660 for buyers, who opt for Premium Title Services.

ⓘ 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: $450 · $37/mo
• Projected year-2 tax: $450 · $37/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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,643
• − Mortgage interest: −$2,661
• − Property taxes: −$450
• − Insurance: −$238
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$1,382
• Taxable income: $7,570
• Est. tax owed @ 24.0%: −$1,817
• After-tax cash flow: $6,075/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: Cook County
• NCES district ID: 1301470
• Math proficiency: 29% ▼ -3.00%
• Reading proficiency: 27% ▼ -5.00%
• Median HH income: $35,135
• Composite: 23.14/100
• National rank: #7951
• State rank: #111 of 174 in GA

Livability — Sparks

• Score: 65/100
• State rank: #225
• US rank: #13214

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sparks, GA
• Population (ZIP): 3,064

Population outlook (Cook County) Hauer SSP2

• Today (2025): 16,984 people
• By 2030: 16,800 · -1.1%
• By 2040: 16,343 · -3.8%
• By 2050: 15,696 · -7.6%
• By 2075: 13,451 · -20.8%
• By 2100: 10,357 · -39.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 47% White 41% Hispanic / Latino 10% Two or more races 3% Native American 1%
• Hispanic origin (detail): Mexican 10%
• Foreign-born: 3% · Canada, China
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Cook

• 2024 margin: Solid R (+46.5) · D 26.6% · R 73.0%
• 2008→2024 swing: -17.5pp toward R · 2008: -28.9pp · 2024: -46.5pp
• All cycles: 2024: R+46.5 2020: R+40.4 2016: R+40.1 2012: R+31.4 2008: R+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.20%
• Current HPI: 157.7159
• Rent YoY: —
• Metro: —
• 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

-5.0% since first listed

4 events — show timeline

• 2026-06-09 Price Changed $47,500 SGMLS
• 2026-06-09 Price Changed $47,500 MBOR
• 2026-05-13 Listed $50,000 MBOR
• 2026-05-13 Listed $50,000 SGMLS

Property tax history

+3.6%/yr

Latest (2025): $450 · -4.1% YoY. Source: county tax records.