1524 N Hill St · Griffin, GA 30223

$49,700

3 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 16 Days on market

Built 1955 8,712 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.3/5.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor special in Griffin! Bring ALL offers! This 3-bedroom, 1-bath ranch built in 1955 offers a great opportunity for renovation, rental income, or resale potential. Situated on a level lot, this one-story home features a covered front and porch and a detached storage building. Property will need extensive repairs and updates throughout and is being sold as-is. Great opportunity for investors, flippers, or buyers looking to renovate and customize a home to their taste!

Key facts

• Level lot
• Covered front
• 8,712 sq ft lot

Tags

• COVERED FRONT
• DETACHED STORAGE BUILDING
• LEVEL LOT

Property features AI

Exterior

• Parking: On-street parking; Open parking available
• Utilities: Water: Other; Sewer: Other; Electric: Other; Utilities: Other
• Home design: One level; Fixer condition
• Construction: Wood siding construction; Composition/shingle roof; Block foundation; Built with traditional materials
• Exterior features: Storage; Screened porch; Chain link fencing

Interior

• Kitchen: Kitchen with other/features
• Bedrooms: Three main-level bedrooms; Other bedroom features
• Flooring: Laminate flooring; Vinyl flooring; Other flooring
• Bathrooms: One full bathroom (main level); Master bathroom: Other features
• Heating & cooling: Heating: Other; Cooling: Other
• Interior features: No shared/common walls; Other interior features
• Laundry & utility: Laundry: Other features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $666 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.4% vs local median 4.3% in Griffin — 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 54/100 on livability (#529 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Griffin-Spalding County (suburban): math 13% / reading 19% proficiency, ranked #151 of 174 in GA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.3%/yr); 427 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 342 units permitted in Spalding County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $344 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Spalding County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 36% 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 $48,954 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 2.61% ✓
• Cap rate: 22.38%
• Cash-on-cash: 57.44%
• DSCR: 3.56
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $149,796
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1524 N Hill St	0.00mi	3/1.0	1,026 (0%)	0mo	$39,000	$38	100
1344 Jackson St	0.72mi	3/1.0	950 (-7%)	10mo	$65,000	$68	46
932 Greer Rd	0.60mi	3/2.0	1,150 (+12%)	4mo	$167,500	$146	44
1318 N 9th St	0.68mi	3/2.0	903 (-12%)	16mo	$180,000	$199	31

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 · 3.34% rent growth · sell at horizon

5-year hold

• IRR: 56.3%
• Equity multiple: 3.50×
• Total profit: $34,846
• Equity at exit: $7,410

10-year hold

• IRR: 61.4%
• Equity multiple: 7.25×
• Total profit: $86,928
• Equity at exit: $4,297

Cash invested: $13,916 (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 30223

• Rents YoY: 3.3%
• Active inventory: 427
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,297 high
• Mortgage (P&I): −$261
• Tax from tax record: −$77 /mo · $922/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $666

Break-even live

Break-even rent $453

Max offer price $49,700

Occupancy floor 44%

Sensitivity live

Price	-10% $694	-5% $680	+0% $666	+5% $652	+10% $638
Rent	-10% $564	-5% $615	+0% $666	+5% $717	+10% $769
Rate	-1.0pp $691	-0.5pp $679	base $666	+0.5pp $653	+1.0pp $640

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: $12,425
• Closing costs: $1,491
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1313 Ridgeview Dr Griffin, GA	3.0	1.0	840	$1,050	$1.25	25d	1	0.50mi
214 Kentucky Ave Unit D Griffin, GA	2.0	1.0	700	$1,050	$1.50	6d	1	0.90mi
816 Lane St Griffin, GA	3.0	2.0	1120	$1,300	$1.16	44d	1	0.98mi
117 Blanton Ave Unit A Griffin, GA	2.0	1.0	718	$975	$1.36	25d	1	0.99mi
114 Blanton Ave Griffin, GA	3.0	2.0	1274	$1,523	$1.20	21d	1	1.01mi
207 Custer Cir Griffin, GA	4.0	2.0	1152	$1,895	$1.64	4d	1	1.03mi
1135 E McIntosh Rd Griffin, GA	3.0	2.0	1175	$1,350	$1.15	25d	1	1.11mi
212 Alabama St Griffin, GA	2.0	1.0	728	$995	$1.37	44d	1	1.15mi
205 W Cherry St Griffin, GA	2.0	1.0	972	$950	$0.98	3d	1	1.33mi
592 Elles Way Griffin, GA	3.0	2.0	1260	$1,350	$1.07	44d	1	1.36mi
352 Adams St Griffin, GA	3.0	1.5	1296	$1,350	$1.04	44d	1	1.38mi
324 Adams St Griffin, GA	3.0	2.0	1363	$1,595	$1.17	25d	1	1.38mi
620 Dobbins Mill Rd Unit 620 Griffin, GA	2.0	1.0	885	$975	$1.10	44d	1	1.40mi
503 Wheeler St Griffin, GA	2.0	1.0	1028	$1,250	$1.22	44d	1	1.43mi
413 N Hill St Unit B Griffin, GA	2.0	1.0	792	$875	$1.10	4d	1	1.44mi
708 Ellis St Griffin, GA	2.0	1.0	768	$1,000	$1.30	3d	1	1.50mi

Listing history 12 events

1. 2026-06-15
   status $49,700 Pending 16 DOM
2. 2026-06-15
   days on market $49,700 Active 16 DOM
3. 2026-06-13
   days on market $49,700 Active 14 DOM
4. 2026-06-09
   days on market $49,700 Active 10 DOM
5. 2026-06-08
   days on market $49,700 Active 9 DOM
6. 2026-06-07
   days on market $49,700 Active 8 DOM
7. 2026-06-04
   days on market $49,700 Active 5 DOM
8. 2026-06-03
   days on market $49,700 Active 4 DOM
9. 2026-06-02
   days on market $49,700 Active 3 DOM
10. 2026-06-01
    days on market $49,700 Active 2 DOM
11. 2026-05-31
    remarks 476-char remark
12. 2026-05-31
    listed $49,700 Active 1 DOM

ⓘ 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: $922 · $77/mo
• Projected year-2 tax: $922 · $77/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 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 36% 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: $15,558
• − Mortgage interest: −$2,784
• − Property taxes: −$922
• − Insurance: −$248
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$1,446
• Taxable income: $7,669
• Est. tax owed @ 24.0%: −$1,841
• After-tax cash flow: $6,153/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: Griffin-Spalding County
• NCES district ID: 1302520
• Math proficiency: 13% ▼ -13.00%
• Reading proficiency: 19% ▼ -12.00%
• Median HH income: $40,895
• Composite: 13.71/100
• National rank: #9496
• State rank: #151 of 174 in GA

Livability — Griffin

• Score: 54/100
• State rank: #529
• US rank: #23746

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Griffin, GA
• County: Spalding County · 66,676 people
• City population: 28,414
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 38,262
• Household income: $59,054
• Rent vs Own: 39.5% rent · 60.5% own
• Severe rent burden: 1297.0

Population outlook (Spalding County) Hauer SSP2

• Today (2025): 63,015 people
• By 2030: 61,689 · -2.1%
• By 2040: 57,932 · -8.1%
• By 2050: 53,474 · -15.1%
• By 2075: 43,228 · -31.4%
• By 2100: 32,290 · -48.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 6% Korean 1%

Political lean MEDSL · Spalding

• 2024 margin: R (+16.7) · D 41.4% · R 58.1%
• 2008→2024 swing: +2.1pp toward D · 2008: -18.8pp · 2024: -16.7pp
• All cycles: 2024: R+16.7 2020: R+20.8 2016: R+24.2 2012: R+20.0 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.92%
• Current HPI: 225.7933
• Rent YoY: ▲ 3.34%
• 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

1 event — show timeline

• 2026-05-27 Listed $49,700 FMLS

Property tax history

+4.9%/yr

Latest (2025): $922 · -2.2% YoY. Source: county tax records.