156 S Johnson St · Newborn, GA 30056

$1,149,000

17 bd · 2.0 ba · 1,836 sqft · MultiFamily public records · 19 Days on market

Built 1999 4.93 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 +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.1/10.0
• Appreciation +3.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investors Multi-family Dream with instant income potential!! 8 units total on 5 acres in downtown Newborn. 3 Duplexes (2 bedroom/1 bath), 1 Mobile Home (3 bedroom/2 bath) and 1 Farmhouse (2 bedroom/1 bath) - 17 Bedrooms & 9 Baths total. A perfect opportunity to grow your real estate portfolio! Upgrades to multiple units include new A/C, paint, LVP - call for details. ALL ARE TENANT OCCUPIED - PLEASE DO NOT DISTURB. Specific rent roll and property information is available upon request. All showings will be scheduled after accepted offer during due diligence.

Key facts

• Income potential
• Multi family
• Lvp

Tags

• MULTI FAMILY
• INCOME POTENTIAL
• 5 ACRES
• UPGRADES TO MULTIPLE UNITS
• NEW A/C
• LVP

Property features AI

Finance

• Other: Property condition: resale; Total of 8 units
• Financial info: Listed for cash or conventional offers
• HOA & community: No HOA

Exterior

• Parking: Parking pad; Open parking available
• Utilities: Public water; Septic sewer; Electricity with individual meters
• Home design: Residential income property (multi-family); Multi-family structure; Built in 1999
• Construction: Vinyl siding and other exterior materials; Slab foundation; Built in 1999
• Exterior features: Vinyl siding; Other construction materials; Slab foundation; Approximately 4.93-acre lot; Near shopping

Interior

• Heating & cooling: Central heating; Central air conditioning (electric)
• Interior features: One level; No basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 17-bed/2.0-bath multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $1k ($13k/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 $1.04M (9.5% below list).
• Recommended offer: $1.04M (9.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#399 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mansfield Elementary School (math 47% / reading 42%, grade F, #336 of 1,228 statewide, top 29%, 391 students, 38% FRL); Indian Creek Middle School (math 18% / reading 30%, grade F, #311 of 470 statewide, top 68%, 814 students, 85% FRL); Eastside High School (math 7% / reading 17%, grade F, #342 of 424 statewide, top 81%, 1,621 students, 46% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 16 active listings in the ZIP; 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $8k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago 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.
• Current owner paid $460k; list at $1.15M implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $1,040,000 (9.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.12%
• DSCR: 1.18
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.75×
• Total profit: $-79,959
• Equity at exit: $209,949

10-year hold

• IRR: 2.0%
• Equity multiple: 1.16×
• Total profit: $51,391
• Equity at exit: $166,988

Cash invested: $321,720 (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 30056

• Home prices YoY: -0.8%
• Active inventory: 16
• Price-to-rent: 73.7×

Monthly cashflow live

• Estimated rent: $10,400 medium
• Mortgage (P&I): −$6,025
• Tax from tax record: −$608 /mo · $7,302/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,184
• Net cashflow: $1,103

Break-even live

Break-even rent $9,003

Max offer price $1,149,000

Occupancy floor 84%

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 7× units	2	1	$9,100
1× unit	3	2	$1,300
Total (8 units)			$10,400

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: $287,250
• Closing costs: $34,470
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $1,149,000 Active 19 DOM
2. 2026-06-17
   days on market $1,149,000 Active 18 DOM
3. 2026-06-16
   days on market $1,149,000 Active 17 DOM
4. 2026-06-15
   statusdays on market $1,149,000 Active 16 DOM
5. 2026-06-13
   days on market $1,149,000 New 14 DOM
6. 2026-06-13
   days on market $1,149,000 New 13 DOM
7. 2026-06-09
   days on market $1,149,000 New 10 DOM
8. 2026-06-08
   days on market $1,149,000 New 9 DOM
9. 2026-06-07
   days on market $1,149,000 New 8 DOM
10. 2026-06-04
    days on market $1,149,000 New 5 DOM
11. 2026-06-03
    days on market $1,149,000 New 4 DOM
12. 2026-06-02
    days on market $1,149,000 New 3 DOM
13. 2026-06-01
    days on market $1,149,000 New 2 DOM
14. 2026-05-31
    remarks 565-char remark
15. 2026-05-31
    listed $1,149,000 New 1 DOM

ⓘ 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: $7,302 · $608/mo
• Projected year-2 tax: $10,571 · $881/mo
• Expected delta: +$3,269/yr (+$272/mo · 44.8%)

ⓘ 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 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $124,800
• − Mortgage interest: −$64,362
• − Property taxes: −$7,302
• − Insurance: −$5,745
• − Repairs & maintenance: −$9,984
• − Management: −$9,984
• − Depreciation: −$33,425
• Taxable loss: −$6,002
• Est. tax savings @ 24.0%: +$1,441
• After-tax cash flow: $14,680/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: Newton County
• NCES district ID: 1303930
• Math proficiency: 17% ▼ -13.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $50,768
• Composite: 19.2/100
• National rank: #8816
• State rank: #137 of 174 in GA

Livability — Newborn

• Score: 59/100
• State rank: #399
• US rank: #19747

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newborn, GA
• Population (ZIP): 2,379

Population outlook (Newton County) Hauer SSP2

• Today (2025): 118,372 people
• By 2030: 124,234 · +5.0%
• By 2040: 135,550 · +14.5%
• By 2050: 145,309 · +22.8%
• By 2075: 166,843 · +40.9%
• By 2100: 175,800 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 8% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Serbian 6% Slovak 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Newton

• 2024 margin: D (+15.1) · D 57.3% · R 42.2%
• 2008→2024 swing: +14.0pp toward D · 2008: 1.2pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+10.9 2016: D+2.4 2012: D+2.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.25%
• Current HPI: 290.582
• 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

+274.7% since first listed

13 events — show timeline

• 2025-02-28 Listing Removed — GAMLS
• 2025-01-05 Listing Removed — GAMLS
• 2024-12-16 Relisted — GAMLS
• 2024-12-15 Listing Removed — GAMLS
• 2024-11-01 Relisted — GAMLS
• 2024-10-31 Listing Removed — GAMLS
• 2024-09-03 Relisted — GAMLS
• 2024-08-31 Listing Removed — GAMLS
• 2024-07-08 Listed $1,199,000 GAMLS
• 2024-07-08 Listed $1,199,000 GAMLS
• 2024-05-31 Listed $1,149,000 GAMLS
• 2006-08-03 Sold (Public Records) $460,000 Public Records
• 2006-01-20 Sold (Public Records) $320,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $7,302 · +55.3% YoY. Source: county tax records.