120 Caraker Ave · Milledgeville, GA 31061

$69,000

3 bd · 2.0 ba · 1,344 sqft · SingleFamily public records · 51 Days on market

Built 1947 0.28 ac lot $51/sqft · 30% below area Est $98k · 30% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic opportunity in Milledgeville! This 3-bedroom, 1-bath ranch-style home offers 1,344 square feet of living space on a level lot in a walkable, convenient location near shopping and everyday amenities. The home features a spacious floorplan, front and rear porches, and public utilities! This property is ready to bring in rental income, and/or has excellent potential as a flip, with plenty of room for further customization! Ideal for investors or first-time buyers looking to add value and bring their vision to life! Don't miss the chance to transform this home into something special!

Key facts

• Level lot
• Ranch-style home
• Rental income

Tags

• RANCH-STYLE HOME
• LEVEL LOT
• WALKABLE LOCATION
• FRONT AND REAR PORCHES
• PUBLIC UTILITIES
• RENTAL INCOME

Property features AI

Exterior

• Parking: 2 parking spaces; Driveway parking; Level driveway; Open parking available
• Utilities: Public water; Public sewer; 220-volt electric; Cable available; Electricity available; Phone available; Underground utilities; Water available; Sewer available
• Home design: One-level home; Resale property
• Construction: Shingle roof; Block foundation; Other construction materials
• Exterior features: Covered front and rear porches; Other exterior features; Paved city street frontage; Near shopping; Street lights

Interior

• Kitchen: White cabinets; Laminate countertops; Other kitchen features
• Bedrooms: 3 bedrooms on the main level; Primary suite on the main level
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 1 full bathroom; Master bathroom with tub/shower combo
• Heating & cooling: Zoned heating; Cooling: other
• Interior features: High-speed internet available; No shared/common walls; Crawl space foundation
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.4% vs local median 3.3% in Milledgeville — 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 68/100 on livability (#134 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities D+, crime F, commute F.
• Baldwin County (town): math 13% / reading 20% proficiency, ranked #152 of 174 in GA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Midway Hills Primary (484 students, 89% FRL); Oak Hill Ms (math 13% / reading 24%, grade F, #372 of 470 statewide, top 80%, 986 students, 89% FRL); Baldwin High School (math 10% / reading 21%, grade F, #290 of 424 statewide, top 69%, 1,311 students, 89% FRL) — zoned schools average 89% FRL vs 72% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.0%/yr); 380 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 202 units permitted in Baldwin County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Baldwin County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 11 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 $32k; list at $69k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% 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 $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1947 — 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. 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: 1.99% ✓
• Cap rate: 17.40%
• Cash-on-cash: 39.67%
• DSCR: 2.77
• GRM: 4.2

CMA / ARV

• ARV (median comp): $98,194
• List price: $69,000
• Delta: -29.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140A Bell Ave SE	0.25mi	3/1.0	1,312 (-2%)	10mo	$96,000	$73	72
144 Bell Ave SE	0.24mi	3/1.0	1,248 (-7%)	5mo	$38,000	$30	69
300 Cline Ave	0.20mi	3/2.0	1,152 (-14%)	11mo	$124,000	$108	57
701 Nelson Rd	0.47mi	3/2.0	1,420 (+6%)	18mo	$100,000	$70	53
163 Swint Ave	0.57mi	3/1.0	1,260 (-6%)	17mo	$21,000	$17	45
1510 James Ave	0.46mi	3/2.0	1,500 (+12%)	18mo	$83,000	$55	44
100 Oak Ave	0.71mi	3/1.0	1,194 (-11%)	3mo	$116,000	$97	42
1815 SE Vinson Hwy	0.61mi	4/2.0 (+1)	1,440 (+7%)	19mo	$65,000	$45	39

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 · 4.05% rent growth · sell at horizon

5-year hold

• IRR: 37.1%
• Equity multiple: 2.60×
• Total profit: $30,964
• Equity at exit: $10,288

10-year hold

• IRR: 44.2%
• Equity multiple: 5.42×
• Total profit: $85,482
• Equity at exit: $5,966

Cash invested: $19,320 (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 31061

• Home prices YoY: -29.9%
• Rents YoY: 4.0%
• Active inventory: 380
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,370 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$53 /mo · $640/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $639

Break-even live

Break-even rent $562

Max offer price $69,000

Occupancy floor 48%

Sensitivity live

Price	-10% $678	-5% $658	+0% $639	+5% $619	+10% $600
Rent	-10% $530	-5% $585	+0% $639	+5% $693	+10% $747
Rate	-1.0pp $673	-0.5pp $656	base $639	+0.5pp $621	+1.0pp $603

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
180 Carter Pl SW Milledgeville, GA	3.0	2.0	1024	$1,125	$1.10	45d	1	0.84mi
399 Allen Memorial Dr SW Milledgeville, GA	2.0	1.0	1209	$1,300	$1.08	45d	1	0.88mi
205 Ivey Dr SW Milledgeville, GA	2.0	2.0	1171	$1,299	$1.11	45d	1	1.20mi
241 S Irwin St Unit 62Unit 62 Milledgeville, GA	3.0	3.0	1470	$1,450	$0.99	45d	1	1.24mi

Listing history 45 events

1. 2026-06-21
   days on market $69,000 Active 51 DOM
2. 2026-06-19
   days on market $69,000 Active 49 DOM
3. 2026-06-18
   days on market $69,000 Active 48 DOM
4. 2026-06-17
   days on market $69,000 Active 47 DOM
5. 2026-06-16
   days on market $69,000 Active 46 DOM
6. 2026-06-15
   days on market $69,000 Active 45 DOM
7. 2026-06-14
   days on market $69,000 Active 43 DOM
8. 2026-06-12
   days on market $69,000 Active 42 DOM
9. 2026-06-09
   days on market $69,000 Active 39 DOM
10. 2026-06-08
    days on market $69,000 Active 38 DOM
11. 2026-06-07
    days on market $69,000 Active 37 DOM
12. 2026-06-05
    days on market $69,000 Active 34 DOM
13. 2026-06-03
    days on market $69,000 Active 33 DOM
14. 2026-06-02
    days on market $69,000 Active 32 DOM
15. 2026-06-01
    days on market $69,000 Active 31 DOM
16. 2026-05-31
    days on market $69,000 Active 30 DOM
17. 2026-05-30
    days on market $69,000 Active 29 DOM
18. 2026-05-01
    listed $69,000 New 596-char remark

    Show marketing remark (596 chars)

    Fantastic opportunity in Milledgeville! This 3-bedroom, 1-bath ranch-style home offers 1,344 square feet of living space on a level lot in a walkable, convenient location near shopping and everyday amenities. The home features a spacious floorplan, front and rear porches, and public utilities! This property is ready to bring in rental income, and/or has excellent potential as a flip, with plenty of room for further customization! Ideal for investors or first-time buyers looking to add value and bring their vision to life! Don't miss the chance to transform this home into something special!

19. 2026-05-01
    listed $69,000 Active 596-char remark

    Show marketing remark (596 chars)

    Fantastic opportunity in Milledgeville! This 3-bedroom, 1-bath ranch-style home offers 1,344 square feet of living space on a level lot in a walkable, convenient location near shopping and everyday amenities. The home features a spacious floorplan, front and rear porches, and public utilities! This property is ready to bring in rental income, and/or has excellent potential as a flip, with plenty of room for further customization! Ideal for investors or first-time buyers looking to add value and bring their vision to life! Don't miss the chance to transform this home into something special!

20. 2026-04-30
    historical
21. 2026-04-28
    historical
22. 2026-03-26
    price $69,000
23. 2026-03-26
    price $69,000
24. 2026-02-27
    listed $79,000 New
25. 2026-02-27
    listed $79,000 Active
26. 2026-02-26
    historical
27. 2026-02-26
    historical
28. 2026-01-02
    listed $79,000 Active
29. 2026-01-02
    listed $79,000 New
30. 2026-01-01
    historical
31. 2025-11-20
    listed $79,000 New
32. 2025-11-19
    historical
33. 2025-11-19
    historical
34. 2025-11-14
    price $79,000
35. 2025-11-14
    price $79,000
36. 2025-09-24
    price $85,000
37. 2025-09-24
    price $85,000
38. 2025-07-23
    listed $98,000 New
39. 2025-07-21
    listed $98,000 Active
40. 2024-07-31
    soldstatus $32,000 Closed
41. 2024-07-31
    soldstatus $32,000 Sold
42. 2024-07-16
    status Under Contract
43. 2024-07-16
    historical Active Under Contract
44. 2024-07-10
    listed $45,000 Active
45. 2024-07-03
    listed $45,000 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: $640 · $53/mo
• Projected year-2 tax: $640 · $53/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,446
• − Mortgage interest: −$3,865
• − Property taxes: −$640
• − Insurance: −$345
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$2,007
• Taxable income: $6,957
• Est. tax owed @ 24.0%: −$1,670
• After-tax cash flow: $5,995/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: Baldwin County
• NCES district ID: 1300210
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 20% ▼ -5.00%
• Median HH income: $35,615
• Composite: 13.61/100
• National rank: #9508
• State rank: #152 of 174 in GA

Livability — Milledgeville

• Score: 68/100
• State rank: #134
• US rank: #9206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milledgeville, GA
• County: Baldwin County · 41,764 people
• City population: 41,764
• Metro: Milledgeville, GA
• Population (ZIP): 41,764
• Household income: $54,263
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1630.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 45,602 people
• By 2030: 45,481 · -0.3%
• By 2040: 44,310 · -2.8%
• By 2050: 42,129 · -7.6%
• By 2075: 36,819 · -19.3%
• By 2100: 29,320 · -35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 51% Black 43% Hispanic / Latino 3% Two or more races 3% Asian 2%
• Common ancestry: Slovak 1% Serbian 1% Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Baldwin

• 2024 margin: Toss-up / Even · D 48.6% · R 50.9%
• 2008→2024 swing: -6.8pp toward R · 2008: 4.6pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+1.3 2016: D+1.7 2012: D+5.5 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.16%
• Current HPI: 241.3758
• Rent YoY: ▲ 4.05%
• Metro: Milledgeville, 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

+53.3% since first listed

28 events — show timeline

• 2026-05-01 Listed $69,000 FMLS
• 2026-05-01 Listed $69,000 GAMLS
• 2026-04-30 Listing Removed — GAMLS
• 2026-04-28 Listing Removed — FMLS
• 2026-03-26 Price Changed $69,000 FMLS
• 2026-03-26 Price Changed $69,000 GAMLS
• 2026-02-27 Listed $79,000 FMLS
• 2026-02-27 Listed $79,000 GAMLS
• 2026-02-26 Listing Removed — GAMLS
• 2026-02-26 Listing Removed — FMLS
• 2026-01-02 Listed $79,000 GAMLS
• 2026-01-02 Listed $79,000 FMLS
• 2026-01-01 Listing Removed — GAMLS
• 2025-11-20 Listed $79,000 GAMLS
• 2025-11-19 Listing Removed — GAMLS
• 2025-11-19 Listing Removed — FMLS
• 2025-11-14 Price Changed $79,000 GAMLS
• 2025-11-14 Price Changed $79,000 FMLS
• 2025-09-24 Price Changed $85,000 GAMLS
• 2025-09-24 Price Changed $85,000 FMLS
• 2025-07-23 Listed $98,000 GAMLS
• 2025-07-21 Listed $98,000 FMLS
• 2024-07-31 Sold (MLS) $32,000 GAMLS
• 2024-07-31 Sold (MLS) $32,000 MGMLS
• 2024-07-16 Pending — GAMLS
• 2024-07-16 Contingent — MGMLS
• 2024-07-10 Listed $45,000 MGMLS
• 2024-07-03 Listed $45,000 GAMLS

Property tax history

+38.4%/yr

Latest (2025): $640 · +149.2% YoY. Source: county tax records.