1227 Martin Luther King Dr · Waycross, GA 31501

$115,000

3 bd · 1.0 ba · 1,033 sqft · SingleFamily public records · 72 Days on market

Built 2018 8,712 sqft lot $111/sqft · 61% above area

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Why this score? — see what drove the C 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 +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +2.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent investment opportunity with immediate income potential! This tenant-occupied property is located on Martin Luther King Jr. Drive and includes a bonus adjacent lot, offering additional value and long-term upside. The home features a functional layout with solid structure and room for improvements, making it ideal for investors looking to add value and increase returns over time. Currently tenant-occupied and generating income, providing instant cash flow from day one. Lease terms available upon request. The included bonus lot creates multiple exit strategies—expand the existing home, build an additional unit (buyer to verify), hold for appreciation, or enhance overall property value. Conveniently located near schools, shopping, and downtown Waycross, this property is well-positioned for both rental demand and future growth. Sold as-is. Great opportunity for investors seeking cash flow, land, and upside potential in one package!

Key facts

• Functional layout
• Bonus adjacent lot
• Solid structure

Tags

• INVESTMENT OPPORTUNITY
• TENANT OCCUPIED PROPERTY
• BONUS ADJACENT LOT
• FUNCTIONAL LAYOUT
• SOLID STRUCTURE
• MULTIPLE EXIT STRATEGIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 5.1% in Waycross — 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 55/100 on livability (#519 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D-, crime F.
• Ware County (town): math 27% / reading 35% proficiency, ranked #95 of 174 in GA (top 55%) — 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: 108 active listings in the ZIP; 45 units permitted in Ware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Ware County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($108k) 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.
• Current owner paid $11k; list at $115k implies a 936% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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 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. 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?
6. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.29%
• DSCR: 1.41
• GRM: 7.8

CMA / ARV

• ARV (median comp): $71,490
• List price: $115,000
• Delta: 60.86%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1509 Bethune St	0.49mi	3/1.0	1,053 (+2%)	2mo	$70,000	$66	72
1708 Martin Luther King Dr	0.35mi	3/1.0	1,121 (+8%)	11mo	$10,000	$9	60
1408 Bethune St	0.48mi	3/2.0	1,100 (+6%)	3mo	$124,000	$113	60
1110 Waller St	0.50mi	3/2.0	1,066 (+3%)	10mo	$125,000	$117	59
1212 Bernice St	0.52mi	3/1.0	950 (-8%)	15mo	$64,000	$67	50
1061 Oak St	0.61mi	2/1.0 (-1)	1,012 (-2%)	19mo	$3,500	$3	47
1217 Parkway Dr	0.75mi	2/1.0 (-1)	1,110 (+8%)	22mo	$68,000	$61	29
613 Beville St	0.75mi	3/2.0	1,174 (+14%)	15mo	$195,000	$166	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-2,778
• Equity at exit: $17,147

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $17,929
• Equity at exit: $9,943

Cash invested: $32,200 (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 31501

• Home prices YoY: -29.3%
• Active inventory: 108
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$72 /mo · $864/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $249

Break-even live

Break-even rent $915

Max offer price $115,000

Occupancy floor 75%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $115,000 Active 72 DOM
2. 2026-06-17
   days on market $115,000 Active 71 DOM
3. 2026-06-16
   days on market $115,000 Active 70 DOM
4. 2026-06-15
   days on market $115,000 Active 69 DOM
5. 2026-06-13
   days on market $115,000 Active 67 DOM
6. 2026-06-12
   days on market $115,000 Active 66 DOM
7. 2026-06-09
   days on market $115,000 Active 63 DOM
8. 2026-06-08
   days on market $115,000 Active 62 DOM
9. 2026-06-07
   days on market $115,000 Active 61 DOM
10. 2026-06-04
    days on market $115,000 Active 57 DOM
11. 2026-06-02
    days on market $115,000 Active 56 DOM
12. 2026-06-01
    days on market $115,000 Active 55 DOM
13. 2026-05-31
    days on market $115,000 Active 54 DOM
14. 2026-05-31
    days on market $115,000 Active 53 DOM
15. 2026-05-01
    price $115,000 956-char remark

    Show marketing remark (966 chars)

    Excellent investment opportunity with immediate income potential! This tenant-occupied property is located on Martin Luther King Jr. Drive and includes a bonus adjacent lot, offering additional value and long-term upside. The home features a functional layout with solid structure and room for improvements, making it ideal for investors looking to add value and increase returns over time. Currently tenant-occupied and generating income, providing instant cash flow from day one. Lease terms available upon request. The included bonus lot creates multiple exit strategies-expand the existing home, build an additional unit (buyer to verify), hold for appreciation, or enhance overall property value. Conveniently located near schools, shopping, and downtown Waycross, this property is well-positioned for both rental demand and future growth. Sold as-is. Great opportunity for investors seeking cash flow, land, and upside potential in one package!

16. 2026-05-01
    price $115,000 966-char remark

    Show marketing remark (966 chars)

    Excellent investment opportunity with immediate income potential! This tenant-occupied property is located on Martin Luther King Jr. Drive and includes a bonus adjacent lot, offering additional value and long-term upside. The home features a functional layout with solid structure and room for improvements, making it ideal for investors looking to add value and increase returns over time. Currently tenant-occupied and generating income, providing instant cash flow from day one. Lease terms available upon request. The included bonus lot creates multiple exit strategies-expand the existing home, build an additional unit (buyer to verify), hold for appreciation, or enhance overall property value. Conveniently located near schools, shopping, and downtown Waycross, this property is well-positioned for both rental demand and future growth. Sold as-is. Great opportunity for investors seeking cash flow, land, and upside potential in one package!

17. 2026-04-03
    listed $119,900 New 966-char remark

    Show marketing remark (956 chars)

    Excellent investment opportunity with immediate income potential! This tenant-occupied property is located on Martin Luther King Jr. Drive and includes a bonus adjacent lot, offering additional value and long-term upside. The home features a functional layout with solid structure and room for improvements, making it ideal for investors looking to add value and increase returns over time. Currently tenant-occupied and generating income, providing instant cash flow from day one. Lease terms available upon request. The included bonus lot creates multiple exit strategies—expand the existing home, build an additional unit (buyer to verify), hold for appreciation, or enhance overall property value. Conveniently located near schools, shopping, and downtown Waycross, this property is well-positioned for both rental demand and future growth. Sold as-is. Great opportunity for investors seeking cash flow, land, and upside potential in one package!

18. 2026-04-03
    listed $119,900 Active 956-char remark

    Show marketing remark (956 chars)

    Excellent investment opportunity with immediate income potential! This tenant-occupied property is located on Martin Luther King Jr. Drive and includes a bonus adjacent lot, offering additional value and long-term upside. The home features a functional layout with solid structure and room for improvements, making it ideal for investors looking to add value and increase returns over time. Currently tenant-occupied and generating income, providing instant cash flow from day one. Lease terms available upon request. The included bonus lot creates multiple exit strategies—expand the existing home, build an additional unit (buyer to verify), hold for appreciation, or enhance overall property value. Conveniently located near schools, shopping, and downtown Waycross, this property is well-positioned for both rental demand and future growth. Sold as-is. Great opportunity for investors seeking cash flow, land, and upside potential in one package!

19. 2021-11-15
    soldstatus $11,100

ⓘ 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: $864 · $72/mo
• Projected year-2 tax: $1,058 · $88/mo
• Expected delta: +$194/yr (+$16/mo · 22.5%)

ⓘ 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 8/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,770
• − Mortgage interest: −$6,442
• − Property taxes: −$864
• − Insurance: −$575
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$3,345
• Taxable income: $1,181
• Est. tax owed @ 24.0%: −$283
• After-tax cash flow: $2,709/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: Ware County
• NCES district ID: 1305430
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -12.00%
• Median HH income: $35,231
• Composite: 25.6/100
• National rank: #7415
• State rank: #95 of 174 in GA

Livability — Waycross

• Score: 55/100
• State rank: #519
• US rank: #23458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waycross, GA
• City population: 36,207
• Population (ZIP): 13,034

Population outlook (Ware County) Hauer SSP2

• Today (2025): 33,313 people
• By 2030: 32,071 · -3.7%
• By 2040: 29,587 · -11.2%
• By 2050: 27,197 · -18.4%
• By 2075: 22,323 · -33.0%
• By 2100: 18,197 · -45.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 49% Black 45% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Lithuanian 1% Scottish 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ware

• 2024 margin: Solid R (+43.1) · D 28.3% · R 71.4%
• 2008→2024 swing: -8.7pp toward R · 2008: -34.5pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+40.4 2016: R+41.7 2012: R+33.9 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.90%
• Current HPI: 243.5058
• 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

+936.0% since first listed

5 events — show timeline

• 2026-05-01 Price Changed $115,000 GIAR
• 2026-05-01 Price Changed $115,000 GAMLS
• 2026-04-03 Listed $119,900 GIAR
• 2026-04-03 Listed $119,900 GAMLS
• 2021-11-15 Sold (Public Records) $11,100 Public Records

Property tax history

+7.9%/yr

Latest (2025): $864 · +2.2% YoY. Source: county tax records.