209 W Tinsley St · Griffin, GA 30223

$130,000

4 bd · 2.0 ba · 1,320 sqft · MultiFamily public records · 69 Days on market

Built 1940 0.25 ac lot $98/sqft · 319% above area

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

1

Key facts

• Large lot
• Classic construction
• Mature shade trees

Tags

• ONE STORY DUPLEX
• LARGE LOT
• MATURE SHADE TREES
• GRIFFIN HISTORIC AREA
• CLASSIC CONSTRUCTION
• EASY ACCESS TO PARKS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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); 441 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 342 units permitted in Spalding County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($59k/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 $899 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 37% 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 $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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. 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?
7. 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.
8. 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.
9. 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: 1.44% ✓
• Cap rate: 11.46%
• Cash-on-cash: 18.47%
• DSCR: 1.82
• GRM: 5.8

CMA / ARV

• ARV (median comp): $31,011
• List price: $130,000
• Delta: 319.20%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.34% rent growth · sell at horizon

5-year hold

• IRR: 10.6%
• Equity multiple: 1.42×
• Total profit: $15,299
• Equity at exit: $19,383

10-year hold

• IRR: 19.9%
• Equity multiple: 2.71×
• Total profit: $62,078
• Equity at exit: $11,240

Cash invested: $36,400 (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: 441
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,868 high
• Mortgage (P&I): −$682
• Tax from tax record: −$180 /mo · $2,154/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $560

Break-even live

Break-even rent $1,159

Max offer price $130,000

Occupancy floor 65%

Sensitivity live

Price	-10% $634	-5% $597	+0% $560	+5% $523	+10% $487
Rent	-10% $413	-5% $486	+0% $560	+5% $634	+10% $708
Rate	-1.0pp $626	-0.5pp $593	base $560	+0.5pp $527	+1.0pp $492

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,868
Total (2 units)			$1,868

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 N 8th St Griffin, GA	3.0	2.0	1150	$1,350	$1.17	12d	1	0.11mi
324 Adams St Griffin, GA	3.0	2.0	1363	$1,595	$1.17	25d	1	0.40mi
352 Adams St Griffin, GA	3.0	1.5	1296	$1,350	$1.04	45d	1	0.41mi
816 Lane St Griffin, GA	3.0	2.0	1120	$1,300	$1.16	45d	1	0.50mi
114 Blanton Ave Griffin, GA	3.0	2.0	1274	$1,523	$1.20	21d	1	0.53mi
217 S 11 St Unit A Griffin, GA	3.0	1.0	1763	$1,150	$0.65	0d	1	0.59mi
422 Meriwether St Unit 2 Griffin, GA	3.0	2.0	1100	$1,250	$1.14	14d	1	0.64mi
928 Ray St Griffin, GA	4.0	1.0	1133	$1,300	$1.15	45d	1	0.68mi
614 W Poplar St Griffin, GA	3.0	1.0	1100	$1,100	$1.00	23d	1	0.68mi
614 W Poplar St Griffin, GA	3.0	1.0	1100	$1,100	$1.00	0d	1	0.68mi
363 N 16th St Griffin, GA	3.0	2.0	1300	$1,550	$1.19	45d	1	0.72mi
592 Elles Way Griffin, GA	3.0	2.0	1260	$1,350	$1.07	45d	1	0.73mi
625 E Wall St Griffin, GA	3.0	2.0	1128	$1,200	$1.06	21d	1	0.79mi
615 N 17th St Griffin, GA	3.0	2.0	1504	$1,300	$0.86	21d	1	0.84mi
1032 W College Street Ext Griffin, GA	5.0	2.0	1860	$1,518	$0.82	45d	1	1.06mi
1241 W Poplar St Griffin, GA	4.0	1.5	1568	$1,650	$1.05	25d	1	1.13mi
207 Hillside Cir Griffin, GA	3.0	1.0	1054	$1,100	$1.04	23d	1	1.15mi
1308 Greenbriar Dr Griffin, GA	3.0	2.0	1178	$1,535	$1.30	0d	1	1.24mi
953 E Solomon St Griffin, GA	3.0	1.0	944	$1,100	$1.17	25d	1	1.26mi
1260 Cherokee Ave Griffin, GA	4.0	1.0	1428	$1,400	$0.98	21d	1	1.26mi
102 Grady St Griffin, GA	3.0	1.0	1008	$950	$0.94	45d	1	1.28mi
1320 N Cherokee Ave Griffin, GA	3.0	2.0	1468	$1,611	$1.10	14d	1	1.30mi
1022 Beck St Griffin, GA	3.0	1.0	900	$1,250	$1.39	45d	1	1.39mi
1345 D F Fuller Dr Griffin, GA	4.0	2.0	1300	$1,840	$1.42	45d	1	1.39mi
1345 D F Fuller Dr Griffin, GA	4.0	2.0	1300	$1,840	$1.42	0d	1	1.39mi

Listing history 12 events

1. 2026-05-05
   status Under Contract 1-char remark

   Show marketing remark (1 chars)

   1

2. 2026-04-02
   price $130,000 1-char remark

   Show marketing remark (1 chars)

   1

3. 2026-02-25
   listed $140,000 New 1-char remark

   Show marketing remark (1 chars)

   1

4. 2023-05-31
   soldstatus $152,500
5. 2023-05-30
   soldstatus $152,500 Sold 93-char remark

   Show marketing remark (93 chars)

   Duplex! Investors!! One bedroom/one bathroom units. Tenant occupied. 1320 heated square feet.

6. 2023-05-06
   status Under Contract 93-char remark

   Show marketing remark (93 chars)

   Duplex! Investors!! One bedroom/one bathroom units. Tenant occupied. 1320 heated square feet.

7. 2023-04-28
   historical
8. 2023-03-02
   listed $160,000 New 93-char remark

   Show marketing remark (93 chars)

   Duplex! Investors!! One bedroom/one bathroom units. Tenant occupied. 1320 heated square feet.

9. 2023-03-02
   listed $160,000 New

   Show marketing remark (93 chars)

   Duplex! Investors!! One bedroom/one bathroom units. Tenant occupied. 1320 heated square feet.

10. 2018-07-27
    soldstatus $62,500
11. 2006-07-11
    soldstatus $29,300
12. 1998-06-10
    soldstatus $109,200

ⓘ 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: $2,154 · $180/mo
• Projected year-2 tax: $2,154 · $180/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 37% 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: $22,416
• − Mortgage interest: −$7,282
• − Property taxes: −$2,154
• − Insurance: −$650
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − Depreciation: −$3,782
• Taxable income: $4,961
• Est. tax owed @ 24.0%: −$1,191
• After-tax cash flow: $5,533/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

+19.0% since first listed

12 events — show timeline

• 2026-05-05 Pending — GAMLS
• 2026-04-02 Price Changed $130,000 GAMLS
• 2026-02-25 Listed $140,000 GAMLS
• 2023-05-31 Sold (Public Records) $152,500 Public Records
• 2023-05-30 Sold (MLS) $152,500 GAMLS
• 2023-05-06 Pending — GAMLS
• 2023-04-28 Listing Removed — GAMLS
• 2023-03-02 Listed $160,000 GAMLS
• 2023-03-02 Listed $160,000 GAMLS
• 2018-07-27 Sold (Public Records) $62,500 Public Records
• 2006-07-11 Sold (Public Records) $29,300 Public Records
• 1998-06-10 Sold (Public Records) $109,200 Public Records

Property tax history

+7.1%/yr

Latest (2025): $2,154 · -2.2% YoY. Source: county tax records.