502 Searcy Ave · East Griffin, GA 30223

$32,000

4 bd · 1.0 ba · 1,104 sqft · SingleFamily public records · 32 Days on market

Built 1960 4,356 sqft lot $29/sqft · 80% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.3/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor special in Griffin! 4 bedroom, 1.5 bath home with approximately 1,104 square feet ready for renovation. Strong rental or flip potential with a four-bedroom layout. Property sits on a 0.10 acre lot and is conveniently located near downtown Griffin and local amenities. Sold as-is. Cash only. Bring your contractor and your vision.

Key facts

• Local amenities
• Conveniently located
• Four bedroom layout

Tags

• FOUR BEDROOM LAYOUT
• CONVENIENTLY LOCATED
• LOCAL AMENITIES

Property features AI

Exterior

• Parking: Driveway parking; Open parking available
• Utilities: Public water; Public sewer; Other utilities
• Home design: One-level home; Fee simple ownership; Resale property; Tile roof
• Construction: Other construction materials
• Exterior features: Other exterior features; City street and other road frontage; Asphalt/paved road access; GPS-friendly directions

Interior

• Kitchen: No specific kitchen features listed
• Bedrooms: Four main-level bedrooms; Attic/other room
• Flooring: Other flooring
• Bathrooms: One full bathroom; One half bathroom; Main level has one full and one half bath; Master bathroom: None (no special features listed)
• Heating & cooling: Central air; Other heating
• Interior features: No shared/common walls; Other interior features
• Laundry & utility: Laundry features described as other

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $909 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $31k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#511 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B; Watch: schools F, amenities F, commute F.
• Griffin-Spalding County (suburban): math 13% / reading 19% proficiency, ranked #151 of 174 in GA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.3%/yr); 427 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 342 units permitted in Spalding County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $221 of loan paydown is wiped out by about $960 of value loss. Plan a longer hold.
• Spalding County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 7 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 $20k; list at $32k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 43% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $31,040 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 4.48% ✓
• Cap rate: 40.37%
• Cash-on-cash: 121.70%
• DSCR: 6.42
• GRM: 1.9

CMA / ARV

• ARV (median comp): $156,217
• List price: $32,000
• Delta: -79.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1001 Green Hill Dr	0.24mi	3/1.0 (-1)	1,059 (-4%)	21mo	$160,000	$151	60
251 Lang St	0.54mi	3/1.5 (-1)	1,120 (+1%)	7mo	$155,000	$138	60
179 Grady St	0.65mi	3/1.5 (-1)	1,131 (+2%)	4mo	$194,990	$172	55
410 Dora St	0.74mi	3/1.0 (-1)	1,173 (+6%)	3mo	$195,000	$166	48
67 Fourth St	0.30mi	3/2.0 (-1)	1,184 (+7%)	22mo	$135,000	$114	47
911 Clayton St	0.63mi	3/1.5 (-1)	1,194 (+8%)	4mo	$200,000	$168	46
130 S Brawner St	0.74mi	3/2.0 (-1)	1,086 (-2%)	15mo	$179,900	$166	41
1130 High Falls Rd	0.62mi	3/2.0 (-1)	1,162 (+5%)	19mo	$204,000	$176	37
407 Dora St	0.72mi	3/1.0 (-1)	1,066 (-3%)	23mo	$180,000	$169	36

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 · 3.34% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.94×
• Total profit: $53,208
• Equity at exit: $4,771

10-year hold

• IRR: —
• Equity multiple: 14.73×
• Total profit: $122,988
• Equity at exit: $2,767

Cash invested: $8,960 (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 30223

• Rents YoY: 3.3%
• Active inventory: 427
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,434 high
• Mortgage (P&I): −$168
• Tax from tax record: −$43 /mo · $517/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $909

Break-even live

Break-even rent $284

Max offer price $32,000

Occupancy floor 32%

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: $8,000
• Closing costs: $960
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
953 E Solomon St Griffin, GA	3.0	1.0	944	$1,100	$1.17	24d	1	0.50mi
102 Grady St Griffin, GA	3.0	1.0	1008	$950	$0.94	44d	1	0.54mi
218 Irving Ave Griffin, GA	3.0	1.0	1306	$1,250	$0.96	12d	1	0.58mi
218 Irving Ave Griffin, GA	3.0	1.0	1306	$1,290	$0.99	43d	1	0.58mi
625 E Wall St Griffin, GA	3.0	2.0	1128	$1,200	$1.06	20d	1	0.88mi
592 Elles Way Griffin, GA	3.0	2.0	1260	$1,350	$1.07	43d	1	1.23mi
352 Adams St Griffin, GA	3.0	1.5	1296	$1,350	$1.04	43d	1	1.38mi
324 Adams St Griffin, GA	3.0	2.0	1363	$1,595	$1.17	24d	1	1.39mi
126 Sihane Rd Griffin, GA	3.0	1.0	1156	$1,700	$1.47	24d	1	1.44mi

Listing history 25 events

1. 2026-06-04
   days on market $32,000 Active 32 DOM
2. 2026-06-03
   days on market $32,000 Active 31 DOM
3. 2026-05-31
   days on market $32,000 Active 30 DOM
4. 2026-05-01
   status Back On Market
5. 2026-04-30
   listed $32,000 New 338-char remark
6. 2026-04-30
   historical
7. 2026-04-30
   listed $32,000 Active
8. 2026-04-30
   historical
9. 2026-04-23
   status Active
10. 2026-04-23
    price $32,000
11. 2026-04-18
    status Under Contract
12. 2026-04-18
    status Back On Market
13. 2026-04-17
    historical
14. 2026-04-17
    historical
15. 2026-04-13
    price $35,000
16. 2026-04-13
    price $35,000
17. 2026-04-11
    status Active
18. 2026-03-31
    historical
19. 2026-03-30
    price $40,000
20. 2026-03-30
    price $40,000
21. 2026-03-16
    price $48,000
22. 2026-03-15
    listed $48,000 New
23. 2026-03-15
    listed $65,000 Active
24. 2021-08-05
    soldstatus $20,000
25. 2021-01-26
    soldstatus $15,000

ⓘ 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: $517 · $43/mo
• Projected year-2 tax: $517 · $43/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 43% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,209
• − Mortgage interest: −$1,792
• − Property taxes: −$517
• − Insurance: −$160
• − Repairs & maintenance: −$1,377
• − Management: −$1,377
• − Depreciation: −$931
• Taxable income: $11,055
• Est. tax owed @ 24.0%: −$2,653
• After-tax cash flow: $8,251/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: Griffin-Spalding County
• NCES district ID: 1302520
• Math proficiency: 13% ▼ -13.00%
• Reading proficiency: 19% ▼ -12.00%
• Median HH income: $40,895
• Composite: 13.71/100
• National rank: #9496
• State rank: #151 of 174 in GA

Livability — East Griffin

• Score: 55/100
• State rank: #511
• US rank: #23233

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Griffin, GA
• County: Spalding County · 66,676 people
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 38,262
• Household income: $59,054
• Rent vs Own: 39.5% rent · 60.5% own
• Severe rent burden: 1297.0

Population outlook (Spalding County) Hauer SSP2

• Today (2025): 63,015 people
• By 2030: 61,689 · -2.1%
• By 2040: 57,932 · -8.1%
• By 2050: 53,474 · -15.1%
• By 2075: 43,228 · -31.4%
• By 2100: 32,290 · -48.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 6% Korean 1%

Political lean MEDSL · Spalding

• 2024 margin: R (+16.7) · D 41.4% · R 58.1%
• 2008→2024 swing: +2.1pp toward D · 2008: -18.8pp · 2024: -16.7pp
• All cycles: 2024: R+16.7 2020: R+20.8 2016: R+24.2 2012: R+20.0 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.92%
• Current HPI: 225.7933
• Rent YoY: ▲ 3.34%
• 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

+113.3% since first listed

22 events — show timeline

• 2026-05-31 Listing Removed — GAMLS
• 2026-05-01 Relisted — GAMLS
• 2026-04-30 Listing Removed — FMLS
• 2026-04-30 Listing Removed — GAMLS
• 2026-04-30 Listed $32,000 GAMLS
• 2026-04-23 Relisted — FMLS
• 2026-04-23 Price Changed $32,000 FMLS
• 2026-04-18 Pending — GAMLS
• 2026-04-18 Relisted — GAMLS
• 2026-04-17 Listing Removed — FMLS
• 2026-04-17 Listing Removed — GAMLS
• 2026-04-13 Price Changed $35,000 GAMLS
• 2026-04-13 Price Changed $35,000 FMLS
• 2026-04-11 Relisted — FMLS
• 2026-03-31 Listing Removed — FMLS
• 2026-03-30 Price Changed $40,000 GAMLS
• 2026-03-30 Price Changed $40,000 FMLS
• 2026-03-16 Price Changed $48,000 FMLS
• 2026-03-15 Listed $65,000 FMLS
• 2026-03-15 Listed $48,000 GAMLS
• 2021-08-05 Sold (Public Records) $20,000 Public Records
• 2021-01-26 Sold (Public Records) $15,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $517 · -1.0% YoY. Source: county tax records.