111 Summer St · Adairsville, GA 30103

$224,900

3 bd · 1.0 ba · 2,482 sqft · SingleFamily public records · 107 Days on market

Built 1890 0.45 ac lot $91/sqft · 36% below area Est $349k · 36% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.2/30.0
• Appreciation +9.8/10.0
• DSCR +4.0/10.0
• Livability +3.6/5.0
• 1% rule +3.2/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Located in the heart of downtown Adairsville is this home built in the 1800's. Here is your chance to put your own touch on a piece of Georgia history. 3 bedrooms 2 baths and rocking chair front porch. All this on a corner lot in the historic area of Adairsville, GA.

Key facts

• 0.45 acre lot
• 2 parking spots
• Built 1890

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-5 ($-63/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (18.4% below list).
• Recommended offer: $184k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.1% in Adairsville — 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 72/100 on livability (#70 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F.
• Bartow County (rural): math 33% / reading 34% proficiency, ranked #70 of 174 in GA (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Adairsville Elementary School (math 55% / reading 39%, grade D-, #301 of 1,228 statewide, top 25%, 869 students, 49% FRL); Adairsville Middle School (math 36% / reading 40%, grade F, #159 of 470 statewide, top 34%, 843 students, 49% FRL); Adairsville High School (math 24% / reading 18%, grade F, #225 of 424 statewide, top 54%, 1,170 students, 44% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 182 active listings in the ZIP; solid renter incomes; 1,618 units permitted in Bartow County in 2024 (265 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($2k loan paydown + $22k appreciation (9.7% local appreciation)).
• At projected returns (9.7% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago 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 $51k; list at $225k implies a 341% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,577 (18.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 0.82% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• GRM: 10.2

CMA / ARV

• ARV (median comp): $349,379
• List price: $224,900
• Delta: -35.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
92 Barnsley Village Dr	0.63mi	4/2.5 (+1)	2,482 (0%)	18mo	$315,000	$127	45
40 Arrington Dr	0.47mi	4/2.5 (+1)	2,372 (-4%)	18mo	$326,015	$137	45
23 Anna Pl	0.70mi	4/2.5 (+1)	2,336 (-6%)	7mo	$350,000	$150	40
16 Winchester Ave	0.57mi	4/2.5 (+1)	2,209 (-11%)	7mo	$340,000	$154	39
21 Barnsley Forest Dr	0.64mi	4/3.0 (+1)	2,786 (+12%)	1mo	$349,900	$126	36
70 Woodland Bridge Dr	0.71mi	3/2.0	2,618 (+6%)	22mo	$335,000	$128	36
85 Barnsley Village Dr	0.65mi	4/3.0 (+1)	2,299 (-7%)	12mo	$345,000	$150	34
10 Madison Ln	0.72mi	4/2.5 (+1)	2,248 (-9%)	10mo	$369,000	$164	31
14 Cedar Way	0.69mi	4/2.5 (+1)	2,130 (-14%)	16mo	$342,000	$161	20

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

Projected returns pro-forma

9.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.85×
• Total profit: $116,723
• Equity at exit: $196,869

10-year hold

• IRR: 20.9%
• Equity multiple: 6.44×
• Total profit: $342,577
• Equity at exit: $418,593

Cash invested: $62,972 (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 30103

• Home prices YoY: 2.5%
• Active inventory: 182
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,836 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$182 /mo · $2,189/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $-5

Break-even live

Break-even rent $1,842

Max offer price $223,968

Occupancy floor 95%

Sensitivity live

Price	-10% $122	-5% $58	+0% $-5	+5% $-69	+10% $-133
Rent	-10% $-150	-5% $-78	+0% $-5	+5% $67	+10% $140
Rate	-1.0pp $108	-0.5pp $52	base $-5	+0.5pp $-64	+1.0pp $-123

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $224,900 Active 107 DOM
2. 2026-06-18
   days on market $224,900 Active 104 DOM
3. 2026-06-17
   days on market $224,900 Active 103 DOM
4. 2026-06-16
   days on market $224,900 Active 102 DOM
5. 2026-06-15
   days on market $224,900 Active 101 DOM
6. 2026-06-13
   days on market $224,900 Active 99 DOM
7. 2026-06-09
   days on market $224,900 Active 95 DOM
8. 2026-06-08
   days on market $224,900 Active 94 DOM
9. 2026-06-07
   days on market $224,900 Active 93 DOM
10. 2026-06-04
    days on market $224,900 Active 90 DOM
11. 2026-06-03
    days on market $224,900 Active 89 DOM
12. 2026-06-02
    days on market $224,900 Active 88 DOM
13. 2026-06-01
    days on market $224,900 Active 87 DOM
14. 2026-05-31
    days on market $224,900 Active 86 DOM
15. 2026-04-27
    status Back On Market 267-char remark

    Show marketing remark (267 chars)

    Located in the heart of downtown Adairsville is this home built in the 1800's. Here is your chance to put your own touch on a piece of Georgia history. 3 bedrooms 2 baths and rocking chair front porch. All this on a corner lot in the historic area of Adairsville, GA.

16. 2026-04-09
    status Pending Offer Approval 267-char remark

    Show marketing remark (267 chars)

    Located in the heart of downtown Adairsville is this home built in the 1800's. Here is your chance to put your own touch on a piece of Georgia history. 3 bedrooms 2 baths and rocking chair front porch. All this on a corner lot in the historic area of Adairsville, GA.

17. 2026-03-03
    listed $224,900 New 267-char remark

    Show marketing remark (149 chars)

    Located in the heart of downtown Adairsville is this home built in the 1890. Here is your chance to put your own touch on a piece of Georgia history.

18. 2026-03-03
    listed $224,900 Active 149-char remark

    Show marketing remark (149 chars)

    Located in the heart of downtown Adairsville is this home built in the 1890. Here is your chance to put your own touch on a piece of Georgia history.

19. 2024-09-25
    historical
20. 2024-08-12
    historical
21. 2024-08-01
    price $340,000
22. 2024-08-01
    price $340,000
23. 2024-06-10
    listed $385,000 Active
24. 2024-06-10
    listed $385,000 New
25. 1988-04-01
    soldstatus $51,000

ⓘ 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: $2,189 · $182/mo
• Projected year-2 tax: $2,189 · $182/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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $22,029
• − Mortgage interest: −$12,598
• − Property taxes: −$2,189
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,762
• − Management: −$1,762
• − Depreciation: −$6,543
• Taxable loss: −$3,949
• Est. tax savings @ 24.0%: +$948
• After-tax cash flow: $885/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: Bartow County
• NCES district ID: 1300330
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $50,596
• Composite: 29.16/100
• National rank: #6577
• State rank: #70 of 174 in GA

Livability — Adairsville

• Score: 72/100
• State rank: #70
• US rank: #6291

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Adairsville, GA
• County: Bartow County · 85,497 people
• City population: 14,612
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 14,612
• Household income: $78,071
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 68.0

Population outlook (Bartow County) Hauer SSP2

• Today (2025): 107,887 people
• By 2030: 109,594 · +1.6%
• By 2040: 111,038 · +2.9%
• By 2050: 109,046 · +1.1%
• By 2075: 99,484 · -7.8%
• By 2100: 83,431 · -22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 6% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Dominican 1%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Bartow

• 2024 margin: Solid R (+51.0) · D 24.2% · R 75.2%
• 2008→2024 swing: -5.8pp toward R · 2008: -45.2pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.7 2016: R+55.2 2012: R+51.7 2008: R+45.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.65%
• Current HPI: 390.3093
• Rent YoY: —
• 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

+341.0% since first listed

11 events — show timeline

• 2026-04-27 Relisted — GAMLS
• 2026-04-09 Pending — GAMLS
• 2026-03-03 Listed $224,900 FMLS
• 2026-03-03 Listed $224,900 GAMLS
• 2024-09-25 Listing Removed — FMLS
• 2024-08-12 Listing Removed — GAMLS
• 2024-08-01 Price Changed $340,000 GAMLS
• 2024-08-01 Price Changed $340,000 FMLS
• 2024-06-10 Listed $385,000 GAMLS
• 2024-06-10 Listed $385,000 FMLS
• 1988-04-01 Sold (Public Records) $51,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $2,189 · -0.1% YoY. Source: county tax records.