1050 Gray Horse Rd · Greensboro, GA 30642

$99,900

4 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 65 Days on market

Built 1989 2.00 ac lot $59/sqft · 89% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in Greene County! This property includes a 1,680 sq ft manufactured home situated on approximately 2 acres, PLUS an additional adjacent parcel (1052 Gray Horse Rd), offering added value and potential. Ideal for investors, flippers, or buyers seeking affordable acreage. Property is being sold as-is and offers a spacious layout with room for improvement. Rural setting with convenient access to Greensboro and nearby Lake Oconee. Don't miss this chance to own two parcels at an attractive price point!

Key facts

• 2 acre lot
• 2 parking spots
• Built 1989

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.2% vs local median 1.0% in Greensboro — 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 64/100 on livability (#272 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Greene County (rural): math 27% / reading 37% proficiency, ranked #82 of 174 in GA (top 47%) — 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.
• Market conditions: 505 active listings in the ZIP; 295 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Greene County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($94k) 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

• Climate carrying-cost: major wind risk, 42% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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. 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.
6. 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.
7. 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: 2.13% ✓
• Cap rate: 19.17%
• Cash-on-cash: 45.99%
• DSCR: 3.05
• GRM: 3.9

CMA / ARV

• ARV (median comp): $874,321
• List price: $99,900
• Delta: -88.57%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 43.2%
• Equity multiple: 2.86×
• Total profit: $52,068
• Equity at exit: $14,895

10-year hold

• IRR: 49.2%
• Equity multiple: 5.76×
• Total profit: $133,181
• Equity at exit: $8,638

Cash invested: $27,972 (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 30642

• Active inventory: 505
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,127 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$43 /mo · $518/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $1,072

Break-even live

Break-even rent $771

Max offer price $99,900

Occupancy floor 45%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   status $99,900 Under Contract 65 DOM
2. 2026-06-17
   days on market $99,900 Active 65 DOM
3. 2026-06-16
   days on market $99,900 Active 64 DOM
4. 2026-06-15
   days on market $99,900 Active 63 DOM
5. 2026-06-14
   days on market $99,900 Active 61 DOM
6. 2026-06-13
   days on market $99,900 Active 60 DOM
7. 2026-06-10
   days on market $99,900 Active 58 DOM
8. 2026-06-09
   days on market $99,900 Active 57 DOM
9. 2026-06-08
   days on market $99,900 Active 56 DOM
10. 2026-06-07
    days on market $99,900 Active 55 DOM
11. 2026-06-03
    days on market $99,900 Active 51 DOM
12. 2026-06-02
    days on market $99,900 Active 50 DOM
13. 2026-06-01
    days on market $99,900 Active 49 DOM
14. 2026-05-31
    days on market $99,900 Active 48 DOM
15. 2026-05-30
    days on market $99,900 Active 47 DOM
16. 2026-04-23
    status Back On Market 530-char remark

    Show marketing remark (530 chars)

    Great investment opportunity in Greene County! This property includes a 1,680 sq ft manufactured home situated on approximately 2 acres, PLUS an additional adjacent parcel (1052 Gray Horse Rd), offering added value and potential. Ideal for investors, flippers, or buyers seeking affordable acreage. Property is being sold as-is and offers a spacious layout with room for improvement. Rural setting with convenient access to Greensboro and nearby Lake Oconee. Don't miss this chance to own two parcels at an attractive price point!

17. 2026-04-17
    status Under Contract 530-char remark

    Show marketing remark (530 chars)

    Great investment opportunity in Greene County! This property includes a 1,680 sq ft manufactured home situated on approximately 2 acres, PLUS an additional adjacent parcel (1052 Gray Horse Rd), offering added value and potential. Ideal for investors, flippers, or buyers seeking affordable acreage. Property is being sold as-is and offers a spacious layout with room for improvement. Rural setting with convenient access to Greensboro and nearby Lake Oconee. Don't miss this chance to own two parcels at an attractive price point!

18. 2026-04-07
    listed $99,900 New 530-char remark

    Show marketing remark (530 chars)

    Great investment opportunity in Greene County! This property includes a 1,680 sq ft manufactured home situated on approximately 2 acres, PLUS an additional adjacent parcel (1052 Gray Horse Rd), offering added value and potential. Ideal for investors, flippers, or buyers seeking affordable acreage. Property is being sold as-is and offers a spacious layout with room for improvement. Rural setting with convenient access to Greensboro and nearby Lake Oconee. Don't miss this chance to own two parcels at an attractive price point!

ⓘ 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: $518 · $43/mo
• Projected year-2 tax: $919 · $77/mo
• Expected delta: +$401/yr (+$33/mo · 77.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 42% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,529
• − Mortgage interest: −$5,596
• − Property taxes: −$518
• − Insurance: −$500
• − Repairs & maintenance: −$2,042
• − Management: −$2,042
• − Depreciation: −$2,906
• Taxable income: $11,925
• Est. tax owed @ 24.0%: −$2,862
• After-tax cash flow: $10,002/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: Greene County
• NCES district ID: 1302490
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 37% ▼ -5.00%
• Median HH income: $42,172
• Composite: 27.08/100
• National rank: #7046
• State rank: #82 of 174 in GA

Livability — Greensboro

• Score: 64/100
• State rank: #272
• US rank: #14726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,884

Population outlook (Greene County) Hauer SSP2

• Today (2025): 17,835 people
• By 2030: 18,182 · +1.9%
• By 2040: 18,509 · +3.8%
• By 2050: 18,794 · +5.4%
• By 2075: 19,704 · +10.5%
• By 2100: 20,584 · +15.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Hispanic / Latino 7% Two or more races 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Italian 2% Serbian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Greene

• 2024 margin: Strong R (+28.9) · D 35.3% · R 64.2%
• 2008→2024 swing: -13.9pp toward R · 2008: -15.1pp · 2024: -28.9pp
• All cycles: 2024: R+28.9 2020: R+26.5 2016: R+26.0 2012: R+22.5 2008: R+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.13%
• Current HPI: 186.3442
• 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

3 events — show timeline

• 2026-04-23 Relisted — GAMLS
• 2026-04-17 Pending — GAMLS
• 2026-04-07 Listed $99,900 GAMLS

Property tax history

+6.0%/yr

Latest (2025): $518 · +4.1% YoY. Source: county tax records.