228 E Grow St #28 · Colquitt, GA 39837

$499,900

243 bd · 162.0 ba · 25,300 sqft · MultiFamily · 21 Days on market

5.24 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 +15.0/30.0
• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 27 units. estimate disagrees with records

Listing remarks

VALUE ADD OPPORTUNITY!! $18,500/unit! - 27 unit mobile home park located in Colquitt, GA on county water and sewer. The park is currently 22.2% occupied, with only one additional vacant unit considered rent ready. This is not being presented as a stabilized asset, but rather as a repositioning opportunity with significant upside through renovations, lease up, and operational improvements. Several of the vacant units need varying levels of rehab including flooring, paint, appliances, and general deferred maintenance. The positive side is that the infrastructure is already in place, the park has scale with 27 total units(all park owned), and there is a clear path to increasing occupancy and r

Key facts

• 5.24 acre lot
• Listed 21 days

Property features AI

Exterior

• Home design: Residential income property (investment); Single-story
• Construction: Vinyl siding
• Exterior features: Approximately 5.24 acres; Zoned Commercial NEC

Interior

• Heating & cooling: Wall/window unit cooling
• Interior features: Wall/window air conditioning units

What this means for you Summary

Snapshot

• This is a 27 × 9-bed/6.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $18k ($213k/yr) — positive. Per door: $657/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($27k rent vs $500k).
• Recommended offer: $492k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#136 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools F, amenities F, commute F.
• Miller County (rural): math 23% / reading 26% proficiency, ranked #131 of 174 in GA (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 17 active listings in the ZIP; 2 units permitted in Miller County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $36k of equity ($3k loan paydown + $33k appreciation (6.6% local appreciation)).
• Miller County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($492k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $492,401 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 5.40% ✓
• Cap rate: 49.20%
• Cash-on-cash: 153.23%
• DSCR: 7.82
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.23×
• Total profit: $1,292,561
• Equity at exit: $332,696

10-year hold

• IRR: —
• Equity multiple: 21.82×
• Total profit: $2,913,879
• Equity at exit: $619,922

Cash invested: $139,972 (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 39837

• Home prices YoY: 2.7%
• Active inventory: 17
• Price-to-rent: 41.7×

Monthly cashflow live

• Estimated rent: $26,998 medium
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,498/yr
• Insurance: −$208
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,670
• Net cashflow: $17,749

Break-even live

Break-even rent $4,532

Max offer price $499,900

Occupancy floor 29%

27-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 27× units	9	6	$27,000
Total (27 units)			$26,998

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $499,900 Active 21 DOM
2. 2026-06-17
   days on market $499,900 Active 20 DOM
3. 2026-06-16
   days on market $499,900 Active 19 DOM
4. 2026-06-15
   days on market $499,900 Active 18 DOM
5. 2026-06-13
   days on market $499,900 Active 16 DOM
6. 2026-06-12
   days on market $499,900 Active 15 DOM
7. 2026-06-09
   days on market $499,900 Active 12 DOM
8. 2026-06-08
   days on market $499,900 Active 11 DOM
9. 2026-06-07
   days on market $499,900 Active 10 DOM
10. 2026-06-07
    days on market $499,900 Active 9 DOM
11. 2026-06-04
    days on market $499,900 Active 6 DOM
12. 2026-06-02
    days on market $499,900 Active 5 DOM
13. 2026-06-01
    days on market $499,900 Active 4 DOM
14. 2026-05-31
    days on market $499,900 Active 3 DOM
15. 2026-05-31
    days on market $499,900 Active 2 DOM
16. 2026-05-28
    listed $499,900 Active

ⓘ 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 4/10 Moderate FEMA zone A · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $323,976
• − Mortgage interest: −$28,002
• − Property taxes: −$7,498
• − Insurance: −$4,002
• − Repairs & maintenance: −$25,918
• − Management: −$25,918
• − Depreciation: −$14,543
• Taxable income: $218,095
• Est. tax owed @ 24.0%: −$52,343
• After-tax cash flow: $160,639/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: Miller County
• NCES district ID: 1303660
• Math proficiency: 23% ▼ -8.00%
• Reading proficiency: 26% ▼ -7.00%
• Median HH income: $35,319
• Composite: 20.24/100
• National rank: #8625
• State rank: #131 of 174 in GA

Livability — Colquitt

• Score: 68/100
• State rank: #136
• US rank: #9304

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: Colquitt, GA
• Population (ZIP): 5,994

Population outlook (Miller County) Hauer SSP2

• Today (2025): 5,401 people
• By 2030: 5,146 · -4.7%
• By 2040: 4,675 · -13.4%
• By 2050: 4,282 · -20.7%
• By 2075: 3,577 · -33.8%
• By 2100: 3,087 · -42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 29% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Miller

• 2024 margin: Solid R (+50.5) · D 24.6% · R 75.1%
• 2008→2024 swing: -11.0pp toward R · 2008: -39.5pp · 2024: -50.5pp
• All cycles: 2024: R+50.5 2020: R+46.5 2016: R+49.8 2012: R+38.1 2008: R+39.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.58%
• Current HPI: 246.936
• 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

1 event — show timeline

• 2026-05-28 Listed $499,900 SGMLS