1500 Clough St · Waycross, GA 31501

$65,000

2 bd · 2.0 ba · 1,488 sqft · SingleFamily public records · 44 Days on market

Built 1971 0.34 ac lot $44/sqft · 49% below area Est $127k · 49% under ↓ 13% since listing

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits! This 2-bedroom, 1-bath home in Waycross is ready for your vision. Featuring approximately 1,488 square feet, this property offers a solid footprint for renovation and customization. Ideal for investors or buyers looking to create their own space. Home will require updates and repairs, and is being sold as-is. Don't miss the potential this property has to offer! Hide

Key facts

• 0.34 acre lot
• Built 1971
• Listed 44 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 5.1% in Waycross — 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 55/100 on livability (#519 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Ware County (town): math 27% / reading 35% proficiency, ranked #95 of 174 in GA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Center Elementary School (math 21% / reading 33%, grade F, #689 of 1,228 statewide, top 58%, 480 students, 94% FRL); Waycross Middle School (math 22% / reading 37%, grade F, #249 of 470 statewide, top 55%, 583 students, 86% FRL); Ware County High School (math 33% / reading 30%, grade F, #122 of 424 statewide, top 30%, 1,589 students, 86% FRL) — zoned schools average 89% FRL vs 64% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 114 active listings in the ZIP; 45 units permitted in Ware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ware County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.91% ✓
• Cap rate: 14.70%
• Cash-on-cash: 30.04%
• DSCR: 2.34
• GRM: 4.4

CMA / ARV

• ARV (median comp): $127,216
• List price: $65,000
• Delta: -48.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1500 Clough St	0.00mi	2/1.0	1,488 (0%)	1mo	$23,000	$15	96
1405 Bunche St	0.10mi	3/2.0 (+1)	1,394 (-6%)	13mo	$80,000	$57	69
604 E Waring St	0.63mi	2/2.0	1,479 (-1%)	10mo	$180,000	$122	61
135 Morgan St	0.74mi	2/2.0	1,474 (-1%)	5mo	$72,500	$49	60
1212 Martin Luther King Dr	0.37mi	3/1.5 (+1)	1,360 (-9%)	5mo	$22,500	$17	57
1106 Daniel St	0.47mi	3/2.0 (+1)	1,432 (-4%)	11mo	$139,000	$97	57
705 E Waring St	0.66mi	3/2.0 (+1)	1,436 (-4%)	6mo	$212,000	$148	53
1800 Charles St	0.44mi	2/2.0	1,614 (+8%)	18mo	$52,000	$32	50
709 Sargeant St	0.53mi	3/2.0 (+1)	1,582 (+6%)	16mo	$139,000	$88	46
511 Preston St	0.72mi	3/2.0 (+1)	1,620 (+9%)	9mo	$199,000	$123	39
2409 Dorothy St	0.70mi	2/2.0	1,659 (+12%)	11mo	$114,000	$69	39
1906 Buchannon St	0.63mi	3/1.0 (+1)	1,668 (+12%)	5mo	$68,000	$41	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.02×
• Total profit: $18,549
• Equity at exit: $9,692

10-year hold

• IRR: 32.5%
• Equity multiple: 3.96×
• Total profit: $53,782
• Equity at exit: $5,620

Cash invested: $18,200 (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 31501

• Home prices YoY: -29.3%
• Active inventory: 114
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,242 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$158 /mo · $1,896/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $456

Break-even live

Break-even rent $666

Max offer price $65,000

Occupancy floor 58%

Sensitivity live

Price	-10% $492	-5% $474	+0% $456	+5% $437	+10% $419
Rent	-10% $357	-5% $406	+0% $456	+5% $505	+10% $554
Rate	-1.0pp $488	-0.5pp $472	base $456	+0.5pp $439	+1.0pp $422

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-06
   price $65,000 391-char remark

   Show marketing remark (384 chars)

   Opportunity awaits! This 2-bedroom, 1-bath home in Waycross is ready for your vision. Featuring approximately 1,488 square feet, this property offers a solid footprint for renovation and customization. Ideal for investors or buyers looking to create their own space. Home will require updates and repairs, and is being sold as-is. Don't miss the potential this property has to offer!

2. 2026-05-06
   price $65,000 384-char remark

   Show marketing remark (384 chars)

   Opportunity awaits! This 2-bedroom, 1-bath home in Waycross is ready for your vision. Featuring approximately 1,488 square feet, this property offers a solid footprint for renovation and customization. Ideal for investors or buyers looking to create their own space. Home will require updates and repairs, and is being sold as-is. Don't miss the potential this property has to offer!

3. 2026-03-04
   listed $75,000 New 384-char remark

   Show marketing remark (391 chars)

   Opportunity awaits! This 2-bedroom, 1-bath home in Waycross is ready for your vision. Featuring approximately 1,488 square feet, this property offers a solid footprint for renovation and customization. Ideal for investors or buyers looking to create their own space. Home will require updates and repairs, and is being sold as-is. Don't miss the potential this property has to offer! Hide

4. 2026-03-04
   listed $75,000 Active 391-char remark

   Show marketing remark (391 chars)

   Opportunity awaits! This 2-bedroom, 1-bath home in Waycross is ready for your vision. Featuring approximately 1,488 square feet, this property offers a solid footprint for renovation and customization. Ideal for investors or buyers looking to create their own space. Home will require updates and repairs, and is being sold as-is. Don't miss the potential this property has to offer! Hide

ⓘ 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: $1,896 · $158/mo
• Projected year-2 tax: $1,896 · $158/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,910
• − Mortgage interest: −$3,641
• − Property taxes: −$1,896
• − Insurance: −$325
• − Repairs & maintenance: −$1,193
• − Management: −$1,193
• − Depreciation: −$1,891
• Taxable income: $4,771
• Est. tax owed @ 24.0%: −$1,145
• After-tax cash flow: $4,322/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: Ware County
• NCES district ID: 1305430
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -12.00%
• Median HH income: $35,231
• Composite: 25.6/100
• National rank: #7415
• State rank: #95 of 174 in GA

Livability — Waycross

• Score: 55/100
• State rank: #519
• US rank: #23458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waycross, GA
• City population: 36,207
• Population (ZIP): 13,034

Population outlook (Ware County) Hauer SSP2

• Today (2025): 33,313 people
• By 2030: 32,071 · -3.7%
• By 2040: 29,587 · -11.2%
• By 2050: 27,197 · -18.4%
• By 2075: 22,323 · -33.0%
• By 2100: 18,197 · -45.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 49% Black 45% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Lithuanian 1% Scottish 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ware

• 2024 margin: Solid R (+43.1) · D 28.3% · R 71.4%
• 2008→2024 swing: -8.7pp toward R · 2008: -34.5pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+40.4 2016: R+41.7 2012: R+33.9 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.90%
• Current HPI: 243.5058
• 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

-13.3% since first listed

4 events — show timeline

• 2026-05-06 Price Changed $65,000 GIAR
• 2026-05-06 Price Changed $65,000 GAMLS
• 2026-03-04 Listed $75,000 GIAR
• 2026-03-04 Listed $75,000 GAMLS

Property tax history

+12.9%/yr

Latest (2025): $1,896 · +282.5% YoY. Source: county tax records.