591 Welcome Rd · Newnan, GA 30263

$215,000

2 bd · 1.0 ba · 1,085 sqft · SingleFamily public records · 65 Days on market

Built 1948 1.41 ac lot $198/sqft · 8% below area Est $235k · 8% under ↓ 4% since listing

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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 +12.5/30.0
• ARV discount +11.3/15.0
• DSCR +3.7/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +3.2/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A GREAT OPPORTUNITY AWAITS FIRST TIME HOMEBUYERS, DOWN SIZING COUPLES OR AN INVESTOR! This brick home is on a great lot close to downtown Newnan and easily accessible to the interstate. Bedrooms, bathroom and kitchen have all been freshly painted. New flooring has been installed in bathroom. Large storage room in carport. Enjoy relaxing on the front porch or in the private backyard. Seller is related to the listing agent. Back on the market at no fault of sellers.

Key facts

• Great lot
• New flooring
• Freshly painted

Tags

• BRICK HOME
• GREAT LOT
• CLOSE TO DOWNTOWN
• FRESHLY PAINTED
• NEW FLOORING
• LARGE STORAGE ROOM

Property features AI

Finance

• Financial info: Listing offered as Cash or Conventional; Selling as-is; agent/seller relationship disclosed
• HOA & community: No HOA

Exterior

• Parking: Carport (attached) with storage; Two parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Septic tank; Electricity available; Natural gas available; High-speed internet available; Cable available; Phone available
• Home design: Single-family house; One story; Built in 1948
• Construction: Brick construction; Block foundation; Composition roof
• Exterior features: Private lot; Partially wooded; Porch

Interior

• Kitchen: Country-style kitchen with pantry and solid surface counters; Dishwasher; Refrigerator; Gas water heater
• Bedrooms: Two bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (natural gas); Central electric air conditioning; Ceiling fans
• Interior features: One-level layout; Public records list living area as 1,085; Resale condition; Masonry fireplace in the family room (1 total)
• Laundry & utility: Laundry room (main level); Laundry described as 'Other'

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-29 ($-354/yr) — negative.
• To cash-flow at today's rent, offer at most $210k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (24.7% below list).
• Recommended offer: $162k (24.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.8% in Newnan — 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 66/100 on livability (#184 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, employment B; Watch: crime F, amenities F, commute F.
• Coweta County (rural): math 37% / reading 43% proficiency, ranked #36 of 174 in GA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Western Elementary School (math 32% / reading 32%, grade F, #582 of 1,228 statewide, top 50%, 437 students, 59% FRL); Evans Middle School (math 26% / reading 40%, grade F, #213 of 470 statewide, top 47%, 770 students, 53% FRL); Newnan High School (math 42% / reading 26%, grade F, #93 of 424 statewide, top 23%, 2,335 students, 41% FRL).
• Market conditions: Rents rising (+2.9%/yr); 539 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 963 units permitted in Coweta County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Coweta County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $161,835 (24.7% 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 65 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — 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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.75% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• GRM: 11.1

CMA / ARV

• ARV (median comp): $234,552
• List price: $215,000
• Delta: -8.34%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.87% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-37,014
• Equity at exit: $32,057

10-year hold

• IRR: -9.8%
• Equity multiple: 0.40×
• Total profit: $-35,860
• Equity at exit: $18,589

Cash invested: $60,200 (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 30263

• Home prices YoY: -34.5%
• Rents YoY: 2.9%
• Active inventory: 539
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,618 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$91 /mo · $1,091/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $-29

Break-even live

Break-even rent $1,656

Max offer price $209,790

Occupancy floor 97%

Sensitivity live

Price	-10% $92	-5% $31	+0% $-29	+5% $-90	+10% $-151
Rent	-10% $-157	-5% $-93	+0% $-29	+5% $34	+10% $98
Rate	-1.0pp $79	-0.5pp $25	base $-29	+0.5pp $-85	+1.0pp $-142

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 Mineral Springs Ln Newnan, GA	3.0	2.0	1217	$1,886	$1.55	7d	1	1.32mi

Listing history 17 events

1. 2026-06-21
   days on market $215,000 Active 65 DOM
2. 2026-06-18
   days on market $215,000 Active 62 DOM
3. 2026-06-17
   days on market $215,000 Active 61 DOM
4. 2026-06-16
   days on market $215,000 Active 60 DOM
5. 2026-06-15
   statusdays on market $215,000 Active 59 DOM
6. 2026-06-13
   remarks 469-char remark
7. 2026-06-13
   statusdays on market $215,000 Back On Market 57 DOM
8. 2026-06-09
   days on market $215,000 Active Under Contract 53 DOM
9. 2026-06-08
   days on market $215,000 Active Under Contract 52 DOM
10. 2026-06-07
    days on market $215,000 Active Under Contract 51 DOM
11. 2026-06-04
    days on market $215,000 Active Under Contract 48 DOM
12. 2026-06-03
    days on market $215,000 Active Under Contract 47 DOM
13. 2026-06-02
    statusdays on market $215,000 Active Under Contract 46 DOM
14. 2026-06-02
    pricestatus $215,000 Price Change 45 DOM
15. 2026-06-01
    days on market $225,000 Active 45 DOM
16. 2026-05-31
    days on market $225,000 Active 44 DOM
17. 2026-04-17
    listed $225,000 New 404-char remark

ⓘ 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: $1,091 · $91/mo
• Projected year-2 tax: $1,978 · $165/mo
• Expected delta: +$887/yr (+$74/mo · 81.3%)

ⓘ 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 ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,420
• − Mortgage interest: −$12,043
• − Property taxes: −$1,091
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − Depreciation: −$6,255
• Taxable loss: −$4,151
• Est. tax savings @ 24.0%: +$996
• After-tax cash flow: $642/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: Coweta County
• NCES district ID: 1301500
• Math proficiency: 37% ▼ -16.00%
• Reading proficiency: 43% ▼ -11.00%
• Median HH income: $62,978
• Composite: 35.72/100
• National rank: #4860
• State rank: #36 of 174 in GA

Livability — Newnan

• Score: 66/100
• State rank: #184
• US rank: #11578

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Coweta County · 148,589 people
• City population: 101,637
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 61,695
• Household income: $78,992
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 1320.0

Population outlook (Coweta County) Hauer SSP2

• Today (2025): 162,063 people
• By 2030: 173,373 · +7.0%
• By 2040: 194,658 · +20.1%
• By 2050: 212,246 · +31.0%
• By 2075: 246,544 · +52.1%
• By 2100: 257,059 · +58.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 25% Hispanic / Latino 9% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 7% Chinese 1% Other Indo-European 1%

Political lean MEDSL · Coweta

• 2024 margin: Solid R (+33.9) · D 32.7% · R 66.6%
• 2008→2024 swing: +7.3pp toward D · 2008: -41.2pp · 2024: -33.9pp
• All cycles: 2024: R+33.9 2020: R+35.5 2016: R+42.3 2012: R+44.1 2008: R+41.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.23%
• Current HPI: 249.0207
• Rent YoY: ▲ 2.87%
• 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

-4.4% since first listed

4 events — show timeline

• 2026-06-12 Relisted — GAMLS
• 2026-06-02 Contingent — GAMLS
• 2026-06-01 Price Changed $215,000 GAMLS
• 2026-04-17 Listed $225,000 GAMLS

Property tax history

+1.1%/yr

Latest (2025): $1,091 · +1.6% YoY. Source: county tax records.