36 Highpoint Ln · Locust Grove, GA 30248

$230,000

3 bd · 2.0 ba · 1,680 sqft · Manufactured · 77 Days on market

Built 2024 0.31 ac lot

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Why this score? — see what drove the D 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 +14.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Buyer Financing Fell Through No Fault of Seller -- Deeded Lot - Brand New 2024 Manufactured Construction Home - Well BELOW APPRAISAL - 3 Bedroom 2 Full Bath Master Split - Open Floor Plan - Kitchen with Island, Lots of Cabinets, Stainless Appliances - LVP Flooring - Fireplace - All Electric - On Sewer - This Home Is Beautiful - Call Agent Today For Private Showing!!! * * Can Go FHA, VA & Conventional * * Titles Retired - Engineer Report Available * * * * * Easy Financing * * * * *

Key facts

• Open floor plan
• Deeded lot
• Stainless appliances

Tags

• DEEDED LOT
• MANUFACTURED CONSTRUCTION HOME
• OPEN FLOOR PLAN
• KITCHEN WITH ISLAND
• STAINLESS APPLIANCES
• LVP FLOORING

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $230k.

Deal economics

• At list price, monthly cash flow is $28 ($341/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (11.0% below list).
• Recommended offer: $205k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.1% in Locust Grove — 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 62/100 on livability (#315 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Unity Grove Elementary School (math 33% / reading 30%, grade F, #612 of 1,228 statewide, top 50%, 838 students, 53% FRL); Locust Grove Middle (math 30% / reading 35%, grade F, #221 of 470 statewide, top 48%, 1,103 students, 51% FRL); Locust Grove High (math 7% / reading 33%, grade F, #232 of 424 statewide, top 56%, 1,637 students, 41% FRL).
• Market conditions: Rents rising (+2.2%/yr); 499 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).

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.
• Henry County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $204,798 (11.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 11% 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 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.53%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.16% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-37,145
• Equity at exit: $34,294

10-year hold

• IRR: -9.7%
• Equity multiple: 0.43×
• Total profit: $-36,814
• Equity at exit: $19,886

Cash invested: $64,400 (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 30248

• Home prices YoY: -21.0%
• Rents YoY: 2.2%
• Active inventory: 499
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,048 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $28

Break-even live

Break-even rent $2,012

Max offer price $230,000

Occupancy floor 94%

Sensitivity live

Price	-10% $187	-5% $108	+0% $28	+5% $-51	+10% $-131
Rent	-10% $-133	-5% $-52	+0% $28	+5% $109	+10% $190
Rate	-1.0pp $144	-0.5pp $87	base $28	+0.5pp $-31	+1.0pp $-92

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
163 Brentwood Ln Locust Grove, GA	4.0	3.0	1602	$1,650	$1.03	45d	1	0.19mi
308 Kellys Walk Locust Grove, GA	3.0	2.0	1319	$1,810	$1.37	1d	1	0.28mi
329 Kellys Walk Locust Grove, GA	3.0	2.0	1550	$1,769	$1.14	5d	1	0.36mi
125 Waters Edge Dr Locust Grove, GA	3.0	2.0	1320	$1,825	$1.38	26d	1	0.48mi
444 Grove Park Dr Locust Grove, GA	4.0	2.5	2203	$2,200	$1.00	7d	1	0.61mi
384 Jasmine Dr Locust Grove, GA	3.0	2.5	1719	$1,880	$1.09	45d	1	0.62mi
239 Kings Cv Locust Grove, GA	3.0	2.0	1479	$1,570	$1.06	14d	1	0.72mi
2237 Ross Ln Locust Grove, GA	3.0	2.0	1530	$1,800	$1.18	14d	1	0.76mi
1320 Elmstead Pl Locust Grove, GA	3.0–5.0	2.0–3.0	2245	$2,220	$0.99	0d	1	0.87mi
206 Nadia Ct Locust Grove, GA	3.0	2.0	1557	$1,785	$1.15	26d	1	0.89mi
1221 Browns Country Ln Locust Grove, GA	3.0	2.0	1379	$1,759	$1.28	45d	1	1.04mi
419 Grier Dr Locust Grove, GA	4.0	2.5	2100	$2,030	$0.97	45d	1	1.08mi
236 Sableshire Way Locust Grove, GA	4.0	2.5	1907	$2,080	$1.09	26d	1	1.17mi
1201 Fendt Dr Locust Grove, GA	3.0	2.0	2226	$1,995	$0.90	26d	1	1.20mi
1201 Fendt Dr Locust Grove, GA	3.0	2.0	2016	$1,995	$0.99	24d	1	1.20mi
1104 Saint Phillips Ct Locust Grove, GA	4.0	3.0	1981	$2,019	$1.02	14d	1	1.21mi
1106 Saint Phillips Ct Locust Grove, GA	4.0	2.5	2006	$1,800	$0.90	7d	1	1.21mi
317 Nutwood Trce Locust Grove, GA	3.0	2.5	1690	$1,985	$1.17	45d	1	1.22mi
121 Avonwood Cir Locust Grove, GA	4.0	3.0	2168	$1,975	$0.91	26d	1	1.24mi
1021 Claas Way Locust Grove, GA	4.0	2.0	2164	$2,125	$0.98	45d	1	1.27mi
820 Athens Ln Locust Grove, GA	3.0	2.0	2016	$2,170	$1.08	45d	1	1.40mi
929 Justice Dr Locust Grove, GA	4.0	2.5	1945	$2,081	$1.07	7d	1	1.42mi
927 Justice Dr Locust Grove, GA	4.0	2.5	2177	$2,120	$0.97	7d	1	1.43mi
1267 Fendt Dr Locust Grove, GA	3.0	2.0	2016	$2,149	$1.07	12d	1	1.45mi
1274 Fendt Dr Locust Grove, GA	4.0	2.0	2188	$2,202	$1.01	0d	1	1.48mi
513 Kirkland Dr Locust Grove, GA	3.0	2.5	1926	$1,850	$0.96	45d	1	1.48mi
1108 Amadas Dr Locust Grove, GA	4.0	2.0	2226	$2,415	$1.08	0d	1	1.48mi
1110 Jury Ct Locust Grove, GA	4.0	2.5	1970	$2,081	$1.06	7d	1	1.48mi
141 Colony Park Ln Locust Grove, GA	3.0	3.0	1769	$1,931	$1.09	26d	1	1.49mi
1404 Sodbuster Dr Locust Grove, GA	4.0	2.0	2164	$2,395	$1.11	4d	1	1.50mi

Listing history 18 events

1. 2025-09-19
   status Under Contract
2. 2025-08-25
   status Back On Market
3. 2025-06-20
   status Under Contract
4. 2025-04-29
   price $230,000
5. 2025-04-29
   historical
6. 2025-04-28
   price $230,000
7. 2025-04-23
   listed $235,000 New
8. 2025-04-16
   status Back On Market
9. 2025-04-16
   historical
10. 2025-04-14
    historical
11. 2025-03-12
    historical
12. 2025-03-01
    price $250,000
13. 2025-01-06
    listed $240,000 New
14. 2025-01-06
    listed $240,000 New
15. 2025-01-06
    listed $260,000 New
16. 2024-09-26
    soldstatus $328,000
17. 1990-12-04
    soldstatus $15,400
18. 1985-11-01
    soldstatus $9,500

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $24,576
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − Depreciation: −$6,691
• Taxable loss: −$3,531
• Est. tax savings @ 24.0%: +$847
• After-tax cash flow: $1,189/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: Henry County
• NCES district ID: 1302820
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $62,594
• Composite: 26.13/100
• National rank: #7279
• State rank: #89 of 174 in GA

Livability — Locust Grove

• Score: 62/100
• State rank: #315
• US rank: #17034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Locust Grove, GA
• County: Henry County · 316,359 people
• City population: 36,038
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 36,038
• Household income: $83,823
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 485.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 249,041 people
• By 2030: 264,369 · +6.2%
• By 2040: 294,459 · +18.2%
• By 2050: 322,249 · +29.4%
• By 2075: 392,310 · +57.5%
• By 2100: 437,836 · +75.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 51% Black 37% Hispanic / Latino 9% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Slovak 2% Italian 2% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · Henry

• 2024 margin: Strong D (+29.7) · D 64.5% · R 34.9%
• 2008→2024 swing: +37.1pp toward D · 2008: -7.5pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+20.5 2016: D+4.3 2012: R+3.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.09%
• Current HPI: 203.5358
• Rent YoY: ▲ 2.16%
• 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

+2321.1% since first listed

18 events — show timeline

• 2025-09-19 Pending — GAMLS
• 2025-08-25 Relisted — GAMLS
• 2025-06-20 Pending — GAMLS
• 2025-04-29 Price Changed $230,000 GAMLS
• 2025-04-29 Listing Removed — GAMLS
• 2025-04-28 Price Changed $230,000 GAMLS
• 2025-04-23 Listed $235,000 GAMLS
• 2025-04-16 Relisted — GAMLS
• 2025-04-16 Listing Removed — GAMLS
• 2025-04-14 Listing Removed — GAMLS
• 2025-03-12 Listing Removed — GAMLS
• 2025-03-01 Price Changed $250,000 GAMLS
• 2025-01-06 Listed $260,000 GAMLS
• 2025-01-06 Listed $240,000 GAMLS
• 2025-01-06 Listed $240,000 GAMLS
• 2024-09-26 Sold (Public Records) $328,000 Public Records
• 1990-12-04 Sold (Public Records) $15,400 Public Records
• 1985-11-01 Sold (Public Records) $9,500 Public Records

Property tax history

+8.4%/yr

Latest (2025): $433 · +50.0% YoY. Source: county tax records.