Norman Plan · Statesboro, GA 30461

$264,990

4 bd · 2.5 ba · 1,763 sqft · SingleFamily · 222 Days on market

Good condition ↓ 9% since listing

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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 +27.2/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Norman townhome is designed to maximize both style and functionality in a comfortable, modern layout. The open-concept first floor includes a bright kitchen with a spacious island, granite countertops, and a refrigerator included - seamlessly connecting to the dining and family room for an easy flow, whether you're entertaining or enjoying a quiet evening. A powder room adds convenience, while the attached one-car garage provides secure parking and extra storage space. Upstairs, the primary suite features a roomy walk-in closet and en-suite bathroom with a double vanity for added comfort. Two additional bedrooms and a shared full bathroom with a double vanity create plenty of space for family, guests, or a home office. Laundry is located upstairs for maximum convenience. Home is under construction. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. The photos are not of subject property.

Key facts

• Garage
• Listed 222 days

🏗️ New construction. The $264,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $219,000.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $624 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $233k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.6% in Statesboro — 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 68/100 on livability (#151 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities C-, crime D+, commute F.
• Bulloch County (rural): math 32% / reading 33% proficiency, ranked #85 of 174 in GA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Julia P. Bryant Elementary School (math 43% / reading 39%, grade F, #411 of 1,228 statewide, top 34%, 748 students, 52% FRL); William James Middle School (math 27% / reading 39%, grade F, #213 of 470 statewide, top 47%, 577 students, 66% FRL); Statesboro High School (math 15% / reading 12%, grade F, #325 of 424 statewide, top 78%, 1,760 students, 63% FRL).
• Market conditions: 257 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 668 units permitted in Bulloch County in 2024 (6 in 5+ unit buildings).
• This rent runs 40% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Bulloch County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $61k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 222 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.

Recommended offer $233,191 (12.0% below list)

Questions for the listing agent

1. It's been on market 222 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
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 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: 1.24% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.21%
• DSCR: 1.54
• GRM: 6.7

CMA / ARV

• ARV (median comp): $219,000
• List price: $264,990
• Delta: 21.00%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $4,301
• Equity at exit: $32,654

10-year hold

• IRR: 11.4%
• Equity multiple: 1.90×
• Total profit: $55,092
• Equity at exit: $18,935

Cash invested: $61,320 (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 30461

• Active inventory: 257
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,706 medium
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$568
• Net cashflow: $624

Break-even live

Break-even rent $1,916

Max offer price $219,000

Occupancy floor 72%

Sensitivity live

Price	-10% $775	-5% $700	+0% $624	+5% $548	+10% $473
Rent	-10% $410	-5% $517	+0% $624	+5% $731	+10% $838
Rate	-1.0pp $734	-0.5pp $680	base $624	+0.5pp $567	+1.0pp $510

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
522 Miller Street Ext Statesboro, GA	1.0–3.0	1.5–2.5	1165	$3,201	$2.75	45d	9	0.37mi
199 Zetterower Rd Statesboro, GA	4.0	2.0	1600	$2,000	$1.25	45d	1	1.08mi

Listing history 23 events

1. 2026-06-21
   days on market $264,990 Active 222 DOM
2. 2026-06-19
   days on market $264,990 Active 220 DOM
3. 2026-06-18
   days on market $264,990 Active 219 DOM
4. 2026-06-17
   days on market $264,990 Active 218 DOM
5. 2026-06-16
   days on market $264,990 Active 217 DOM
6. 2026-06-15
   days on market $264,990 Active 216 DOM
7. 2026-06-14
   days on market $264,990 Active 214 DOM
8. 2026-06-13
   days on market $264,990 Active 213 DOM
9. 2026-06-10
   days on market $264,990 Active 211 DOM
10. 2026-06-09
    days on market $264,990 Active 210 DOM
11. 2026-06-08
    days on market $264,990 Active 209 DOM
12. 2026-06-07
    days on market $264,990 Active 208 DOM
13. 2026-06-05
    days on market $264,990 Active 205 DOM
14. 2026-06-03
    days on market $264,990 Active 204 DOM
15. 2026-06-03
    days on market $264,990 Active 203 DOM
16. 2026-06-01
    days on market $264,990 Active 202 DOM
17. 2026-05-31
    days on market $264,990 Active 201 DOM
18. 2026-05-30
    days on market $264,990 Active 200 DOM
19. 2026-03-22
    price $264,990 978-char remark

    Show marketing remark (978 chars)

    The Norman townhome is designed to maximize both style and functionality in a comfortable, modern layout. The open-concept first floor includes a bright kitchen with a spacious island, granite countertops, and a refrigerator included - seamlessly connecting to the dining and family room for an easy flow, whether you're entertaining or enjoying a quiet evening. A powder room adds convenience, while the attached one-car garage provides secure parking and extra storage space. Upstairs, the primary suite features a roomy walk-in closet and en-suite bathroom with a double vanity for added comfort. Two additional bedrooms and a shared full bathroom with a double vanity create plenty of space for family, guests, or a home office. Laundry is located upstairs for maximum convenience. Home is under construction. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. The photos are not of subject property.

20. 2025-12-02
    price $279,990 978-char remark

    Show marketing remark (978 chars)

    The Norman townhome is designed to maximize both style and functionality in a comfortable, modern layout. The open-concept first floor includes a bright kitchen with a spacious island, granite countertops, and a refrigerator included - seamlessly connecting to the dining and family room for an easy flow, whether you're entertaining or enjoying a quiet evening. A powder room adds convenience, while the attached one-car garage provides secure parking and extra storage space. Upstairs, the primary suite features a roomy walk-in closet and en-suite bathroom with a double vanity for added comfort. Two additional bedrooms and a shared full bathroom with a double vanity create plenty of space for family, guests, or a home office. Laundry is located upstairs for maximum convenience. Home is under construction. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. The photos are not of subject property.

21. 2025-12-02
    price $289,990 978-char remark

    Show marketing remark (978 chars)

    The Norman townhome is designed to maximize both style and functionality in a comfortable, modern layout. The open-concept first floor includes a bright kitchen with a spacious island, granite countertops, and a refrigerator included - seamlessly connecting to the dining and family room for an easy flow, whether you're entertaining or enjoying a quiet evening. A powder room adds convenience, while the attached one-car garage provides secure parking and extra storage space. Upstairs, the primary suite features a roomy walk-in closet and en-suite bathroom with a double vanity for added comfort. Two additional bedrooms and a shared full bathroom with a double vanity create plenty of space for family, guests, or a home office. Laundry is located upstairs for maximum convenience. Home is under construction. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. The photos are not of subject property.

22. 2025-12-02
    price $279,990 978-char remark

    Show marketing remark (978 chars)

    The Norman townhome is designed to maximize both style and functionality in a comfortable, modern layout. The open-concept first floor includes a bright kitchen with a spacious island, granite countertops, and a refrigerator included - seamlessly connecting to the dining and family room for an easy flow, whether you're entertaining or enjoying a quiet evening. A powder room adds convenience, while the attached one-car garage provides secure parking and extra storage space. Upstairs, the primary suite features a roomy walk-in closet and en-suite bathroom with a double vanity for added comfort. Two additional bedrooms and a shared full bathroom with a double vanity create plenty of space for family, guests, or a home office. Laundry is located upstairs for maximum convenience. Home is under construction. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. The photos are not of subject property.

23. 2025-11-11
    listed $289,990 Active 978-char remark

    Show marketing remark (978 chars)

    The Norman townhome is designed to maximize both style and functionality in a comfortable, modern layout. The open-concept first floor includes a bright kitchen with a spacious island, granite countertops, and a refrigerator included - seamlessly connecting to the dining and family room for an easy flow, whether you're entertaining or enjoying a quiet evening. A powder room adds convenience, while the attached one-car garage provides secure parking and extra storage space. Upstairs, the primary suite features a roomy walk-in closet and en-suite bathroom with a double vanity for added comfort. Two additional bedrooms and a shared full bathroom with a double vanity create plenty of space for family, guests, or a home office. Laundry is located upstairs for maximum convenience. Home is under construction. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. The photos are not of subject property.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $32,469
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,598
• − Management: −$2,598
• − Depreciation: −$6,371
• Taxable income: $4,255
• Est. tax owed @ 24.0%: −$1,021
• After-tax cash flow: $6,467/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

The Norman townhome is in excellent condition with a good condition score of 80. It is move-in ready with minimal cosmetic improvements needed to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and adds value to the property.
• Resale Kitchen appliances — Modern appliances improve functionality and attract potential buyers.
• Resale Bathroom fixtures — Upgraded fixtures can increase the property's appeal to potential buyers.
• Both Flooring replacement — Replacing worn-out flooring can improve the overall look and feel of the home.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑
• Resale Kitchen appliances — Modern appliances improve functionality and attract potential buyers. ↑
• Resale Bathroom fixtures — Upgraded fixtures can increase the property's appeal to potential buyers. ↑
• Both Flooring replacement — Replacing worn-out flooring can improve the overall look and feel of the home. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bulloch County
• NCES district ID: 1300630
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 33% ▼ -8.00%
• Median HH income: $36,335
• Composite: 26.97/100
• National rank: #7074
• State rank: #85 of 174 in GA

Livability — Statesboro

• Score: 68/100
• State rank: #151
• US rank: #9809

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Statesboro, GA
• County: Bulloch County · 73,507 people
• City population: 67,164
• Metro: Statesboro, GA
• Population (ZIP): 17,447
• Household income: $80,224
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 258.0

Population outlook (Bulloch County) Hauer SSP2

• Today (2025): 79,935 people
• By 2030: 83,796 · +4.8%
• By 2040: 89,717 · +12.2%
• By 2050: 94,558 · +18.3%
• By 2075: 104,376 · +30.6%
• By 2100: 112,857 · +41.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 23% Hispanic / Latino 4% Two or more races 4% Asian 1%
• Common ancestry: Italian 4% Serbian 2% Slovak 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Bulloch

• 2024 margin: Strong R (+29.0) · D 35.3% · R 64.3%
• 2008→2024 swing: -9.8pp toward R · 2008: -19.2pp · 2024: -29.0pp
• All cycles: 2024: R+29.0 2020: R+23.7 2016: R+23.4 2012: R+19.1 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.47%
• Current HPI: 184.7341
• Rent YoY: —
• Metro: Statesboro, 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

-8.6% since first listed

5 events — show timeline

• 2026-03-22 Price Changed $264,990 Zillow
• 2025-12-02 Price Changed $279,990 Zillow
• 2025-12-02 Price Changed $289,990 Zillow
• 2025-12-02 Price Changed $279,990 Zillow
• 2025-11-11 Listed $289,990 Zillow