62 Reece St · Menlo, GA 30731

$159,000

2 bd · 1.0 ba · 896 sqft · Other public records · 214 Days on market

Built 1959 0.49 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 +11.7/30.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• DSCR +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +1.8/10.0

Listing remarks MLS

Seller will consider Lease with Option to Buy. $1100 per month QUALIFIES FOR USDA 100% FINANCING. Seller will contribute $4000 toward buyer's closing costs. No down payment. Let me help you get prequalified. Whether you are looking for your first home, a quiet place to retire, with a fantastic workshop/carport, or anything in between, this cute updated cottage is perfect for you. New 3 zone mini split system for efficient heating and air. Beautiful country kitchen, separate laundry room off the kitchen. Updated throughout.

Key facts

• Country kitchen
• Workshop carport
• Mini split system

Tags

• WORKSHOP CARPORT
• COUNTRY KITCHEN
• SEPARATE LAUNDRY ROOM
• MINI SPLIT SYSTEM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $159k.

Deal economics

• At list price, monthly cash flow is $-46 ($-558/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (26.5% below list).
• Recommended offer: $117k (26.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#313 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Chattooga County (rural): math 18% / reading 26% proficiency, ranked #140 of 174 in GA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Menlo Elementary School (math 23% / reading 32%, grade F, #682 of 1,228 statewide, top 56%, 330 students, 61% FRL); Summerville Middle School (math 12% / reading 23%, grade F, #377 of 470 statewide, top 81%, 384 students, 80% FRL); Chattooga High School (math 17% / reading 32%, grade F, #184 of 424 statewide, top 48%, 713 students, 65% FRL) — zoned schools at 69% FRL track the district average.
• Market conditions: 46 active listings in the ZIP; 2 units permitted in Chattooga County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.8% local appreciation)).
• Chattooga County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 214 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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 $125k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,803 (26.5% 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 214 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — 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 D 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: 0.73% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.71×
• Total profit: $31,457
• Equity at exit: $87,797

10-year hold

• IRR: 12.5%
• Equity multiple: 3.22×
• Total profit: $98,618
• Equity at exit: $149,651

Cash invested: $44,520 (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 30731

• Home prices YoY: 1.7%
• Active inventory: 46
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,168 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$69 /mo · $830/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-46

Break-even live

Break-even rent $1,227

Max offer price $150,789

Occupancy floor 99%

Sensitivity live

Price	-10% $44	-5% $-1	+0% $-46	+5% $-91	+10% $-136
Rent	-10% $-139	-5% $-93	+0% $-46	+5% $0	+10% $46
Rate	-1.0pp $34	-0.5pp $-6	base $-46	+0.5pp $-88	+1.0pp $-130

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-05
   days on market $159,000 Active 214 DOM
2. 2026-06-03
   days on market $159,000 Active 213 DOM
3. 2026-06-02
   days on market $159,000 Active 212 DOM
4. 2026-06-01
   days on market $159,000 Active 211 DOM
5. 2026-05-31
   days on market $159,000 Active 210 DOM
6. 2026-05-30
   days on market $159,000 Active 209 DOM
7. 2026-02-06
   price $159,000 531-char remark

   Show marketing remark (531 chars)

   Seller will consider Lease with Option to Buy. $1100 per month QUALIFIES FOR USDA 100% FINANCING. Seller will contribute $4000 toward buyer's closing costs. No down payment. Let me help you get prequalified. Whether you are looking for your first home, a quiet place to retire, with a fantastic workshop/carport, or anything in between, this cute updated cottage is perfect for you. New 3 zone mini split system for efficient heating and air. Beautiful country kitchen, separate laundry room off the kitchen. Updated throughout.

8. 2025-10-31
   listed $165,000 New 531-char remark

   Show marketing remark (531 chars)

   Seller will consider Lease with Option to Buy. $1100 per month QUALIFIES FOR USDA 100% FINANCING. Seller will contribute $4000 toward buyer's closing costs. No down payment. Let me help you get prequalified. Whether you are looking for your first home, a quiet place to retire, with a fantastic workshop/carport, or anything in between, this cute updated cottage is perfect for you. New 3 zone mini split system for efficient heating and air. Beautiful country kitchen, separate laundry room off the kitchen. Updated throughout.

9. 2025-10-30
   historical
10. 2025-07-22
    price $165,000
11. 2025-04-14
    listed $180,000 New
12. 2023-07-27
    soldstatus $125,000 Sold
13. 2023-07-27
    soldstatus $125,000 Closed
14. 2023-07-27
    soldstatus $125,000
15. 2023-07-24
    status Under Contract
16. 2023-07-13
    historical Active Under Contract
17. 2023-07-13
    historical Active Under Contract
18. 2023-06-16
    status Back On Market
19. 2023-06-14
    historical Active Under Contract
20. 2023-06-08
    listed $125,000 New
21. 2023-06-08
    listed $125,000 Active
22. 2023-05-17
    status Under Contract
23. 2023-05-17
    historical
24. 2023-05-05
    listed $115,000 New

ⓘ 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: $830 · $69/mo
• Projected year-2 tax: $1,463 · $122/mo
• Expected delta: +$633/yr (+$53/mo · 76.3%)

ⓘ 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 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $14,016
• − Mortgage interest: −$8,906
• − Property taxes: −$830
• − Insurance: −$795
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$4,625
• Taxable loss: −$3,383
• Est. tax savings @ 24.0%: +$812
• After-tax cash flow: $254/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: Chattooga County
• NCES district ID: 1301080
• Math proficiency: 18% ▼ -15.00%
• Reading proficiency: 26% ▼ -9.00%
• Median HH income: $33,123
• Composite: 17.93/100
• National rank: #8996
• State rank: #140 of 174 in GA

Livability — Menlo

• Score: 62/100
• State rank: #313
• US rank: #16971

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,450

Population outlook (Chattooga County) Hauer SSP2

• Today (2025): 23,451 people
• By 2030: 22,595 · -3.7%
• By 2040: 20,808 · -11.3%
• By 2050: 19,079 · -18.6%
• By 2075: 15,131 · -35.5%
• By 2100: 10,904 · -53.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2% Black 2%
• Common ancestry: Italian 8% Romanian 2% Slovak 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Chattooga

• 2024 margin: Solid R (+64.2) · D 17.7% · R 81.9%
• 2008→2024 swing: -28.4pp toward R · 2008: -35.8pp · 2024: -64.2pp
• All cycles: 2024: R+64.2 2020: R+61.8 2016: R+58.8 2012: R+41.3 2008: R+35.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.76%
• Current HPI: 284.6453
• 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

+38.3% since first listed

18 events — show timeline

• 2026-02-06 Price Changed $159,000 GAMLS
• 2025-10-31 Listed $165,000 GAMLS
• 2025-10-30 Listing Removed — GAMLS
• 2025-07-22 Price Changed $165,000 GAMLS
• 2025-04-14 Listed $180,000 GAMLS
• 2023-07-27 Sold (Public Records) $125,000 Public Records
• 2023-07-27 Sold (MLS) $125,000 FMLS
• 2023-07-27 Sold (MLS) $125,000 GAMLS
• 2023-07-24 Pending — GAMLS
• 2023-07-13 Contingent — GAMLS
• 2023-07-13 Contingent — FMLS
• 2023-06-16 Relisted — GAMLS
• 2023-06-14 Contingent — GAMLS
• 2023-06-08 Listed $125,000 FMLS
• 2023-06-08 Listed $125,000 GAMLS
• 2023-05-17 Pending — GAMLS
• 2023-05-17 Listing Removed — GAMLS
• 2023-05-05 Listed $115,000 GAMLS

Property tax history

+15.3%/yr

Latest (2025): $830 · -7.8% YoY. Source: county tax records.