204 Johnson St · Cartersville, GA 30120

$900,000

2 bd · 1.0 ba · 5,534 sqft · MultiFamily public records · 220 Days on market

Built 1996 0.56 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investor’s Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath unit and the other a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

Key facts

• Single family home
• Townhomes
• Duplex

Tags

• INCOME PRODUCING RENTAL HOMES
• TOWNHOMES
• DUPLEX
• SINGLE FAMILY HOME
• CURRENTLY OCCUPIED
• FUTURE REDEVELOPMENT POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $900k.

Deal economics

• At list price, monthly cash flow is $3k ($42k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $900k).
• Recommended offer: $792k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.7% in Cartersville — 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 74/100 on livability (#43 in GA, #4,800 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A; Watch: schools D+, commute F.
• Cartersville City (suburban): math 38% / reading 42% proficiency, ranked #46 of 174 in GA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.2%/yr); 521 active listings in the ZIP; solid renter incomes; 1,618 units permitted in Bartow County in 2024 (265 in 5+ unit buildings).
• At $11,600/mo this rent would consume 161% of the median local household income ($87k/yr) (locally 987% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $252k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($792k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago; this cycle's ask has dropped $600k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $220k; list at $900k implies a 309% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $792,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
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 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: 1.29% ✓
• Cap rate: 10.92%
• Cash-on-cash: 16.52%
• DSCR: 1.73
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 4.3%
• Equity multiple: 1.16×
• Total profit: $40,948
• Equity at exit: $134,193

10-year hold

• IRR: 11.0%
• Equity multiple: 1.75×
• Total profit: $188,162
• Equity at exit: $77,816

Cash invested: $252,000 (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 30120

• Home prices YoY: -18.6%
• Rents YoY: -0.2%
• Active inventory: 521
• Price-to-rent: 55.3×

Monthly cashflow live

• Estimated rent: $11,600 high
• Mortgage (P&I): −$4,720
• Tax from tax record: −$601 /mo · $7,206/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,436
• Net cashflow: $3,469

Break-even live

Break-even rent $7,209

Max offer price $900,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1.5	$6,785
▸ 2× units	3	2	$3,456
1× unit	2	1	$1,357
Total (8 units)			$11,600

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: $225,000
• Closing costs: $27,000
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-05-20
   historical Active Under Contract 680-char remark

   Show marketing remark (680 chars)

   Investor’s Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath unit and the other a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

2. 2026-05-20
   status Pending 680-char remark

   Show marketing remark (680 chars)

   Investor’s Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath unit and the other a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

3. 2026-05-18
   historical Active Under Contract 683-char remark

   Show marketing remark (680 chars)

   Investor’s Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath unit and the other a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

4. 2026-05-18
   historical Active Under Contract 680-char remark

   Show marketing remark (680 chars)

   Investor’s Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath unit and the other a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

5. 2026-04-29
   status Active 680-char remark

   Show marketing remark (683 chars)

   Investor's Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath and the other side offering a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

6. 2026-04-29
   status Back On Market 683-char remark

   Show marketing remark (683 chars)

   Investor's Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath and the other side offering a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

7. 2026-04-23
   historical Active Under Contract 683-char remark

   Show marketing remark (680 chars)

   Investor’s Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath unit and the other a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

8. 2026-04-23
   historical Active Under Contract 680-char remark

   Show marketing remark (680 chars)

   Investor’s Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath unit and the other a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

9. 2026-03-24
   price $900,000 683-char remark

   Show marketing remark (680 chars)

   Investor’s Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath unit and the other a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

10. 2026-03-24
    price $900,000 680-char remark

    Show marketing remark (680 chars)

    Investor’s Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath unit and the other a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

11. 2025-10-17
    listed $1,500,000 Active 680-char remark

    Show marketing remark (683 chars)

    Investor's Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath and the other side offering a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

12. 2025-10-17
    listed $1,500,000 New 683-char remark

    Show marketing remark (683 chars)

    Investor's Dream in the Heart of Cartersville! A rare opportunity featuring 8 income-producing rental homes on one parcel within the city limits. This unique property includes five 2 bedroom, 1.5 bath townhomes, a duplex with one side offering a 3 bedroom, 2 bath and the other side offering a 2 bedroom, 1 bath unit, plus a 3 bedroom, 2 bath single-family home. All units are currently occupied, with leases set to renew in April, providing flexibility for continued rental income or future redevelopment potential. Conveniently located near downtown, shopping, and schools. This property offers excellent long term growth and cash flow potential. This property is being sold AS-IS.

13. 2013-04-10
    price $219,900
14. 2013-04-10
    historical
15. 2013-04-09
    soldstatus $219,900 Sold
16. 2013-04-09
    price $299,000
17. 2013-03-22
    status Pending
18. 2013-03-07
    historical Contingent - Due Diligence
19. 2012-04-18
    price $299,000
20. 2012-03-27
    historical
21. 2012-01-15
    listed $330,000 New
22. 2011-11-23
    listed $330,000 Active
23. 2002-12-11
    soldstatus $60,000
24. 2001-06-01
    soldstatus $400,000
25. 1996-01-01
    soldstatus $43,100
26. 1985-07-01
    soldstatus $44,000

ⓘ 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: $7,206 · $601/mo
• Projected year-2 tax: $8,280 · $690/mo
• Expected delta: +$1,074/yr (+$89/mo · 14.9%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $139,200
• − Mortgage interest: −$50,414
• − Property taxes: −$7,206
• − Insurance: −$4,500
• − Repairs & maintenance: −$11,136
• − Management: −$11,136
• − Depreciation: −$26,182
• Taxable income: $28,626
• Est. tax owed @ 24.0%: −$6,870
• After-tax cash flow: $34,755/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: Cartersville City
• NCES district ID: 1300900
• Math proficiency: 38% ▼ -12.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $46,195
• Composite: 34.12/100
• National rank: #5289
• State rank: #46 of 174 in GA

Livability — Cartersville

• Score: 74/100
• State rank: #43
• US rank: #4800

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cartersville, GA
• County: Bartow County · 85,497 people
• City population: 70,885
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 44,896
• Household income: $86,581
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 987.0

Population outlook (Bartow County) Hauer SSP2

• Today (2025): 107,887 people
• By 2030: 109,594 · +1.6%
• By 2040: 111,038 · +2.9%
• By 2050: 109,046 · +1.1%
• By 2075: 99,484 · -7.8%
• By 2100: 83,431 · -22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 13% Hispanic / Latino 12% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 3% Italian 2% Serbian 1%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 89% English-only · Spanish 9%

Political lean MEDSL · Bartow

• 2024 margin: Solid R (+51.0) · D 24.2% · R 75.2%
• 2008→2024 swing: -5.8pp toward R · 2008: -45.2pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.7 2016: R+55.2 2012: R+51.7 2008: R+45.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.99%
• Current HPI: 302.5848
• Rent YoY: ▼ -0.23%
• 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

+1945.5% since first listed

26 events — show timeline

• 2026-05-20 Contingent — FMLS
• 2026-05-20 Pending — FMLS
• 2026-05-18 Contingent — GAMLS
• 2026-05-18 Contingent — FMLS
• 2026-04-29 Relisted — FMLS
• 2026-04-29 Relisted — GAMLS
• 2026-04-23 Contingent — GAMLS
• 2026-04-23 Contingent — FMLS
• 2026-03-24 Price Changed $900,000 GAMLS
• 2026-03-24 Price Changed $900,000 FMLS
• 2025-10-17 Listed $1,500,000 GAMLS
• 2025-10-17 Listed $1,500,000 FMLS
• 2013-04-10 Price Changed $219,900 FMLS
• 2013-04-10 Listing Removed — FMLS
• 2013-04-09 Price Changed $299,000 FMLS
• 2013-04-09 Sold (MLS) $219,900 FMLS
• 2013-03-22 Pending — FMLS
• 2013-03-07 Contingent — FMLS
• 2012-04-18 Price Changed $299,000 FMLS
• 2012-03-27 Listing Removed — GAMLS
• 2012-01-15 Listed $330,000 GAMLS
• 2011-11-23 Listed $330,000 FMLS
• 2002-12-11 Sold (Public Records) $60,000 Public Records
• 2001-06-01 Sold (Public Records) $400,000 Public Records
• 1996-01-01 Sold (Public Records) $43,100 Public Records
• 1985-07-01 Sold (Public Records) $44,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $7,206 · +2.4% YoY. Source: county tax records.