894 Wax Rd SE · Rome, GA 30173

$48,000

2 bd · 1.0 ba · 760 sqft · SingleFamily public records · 345 Days on market

Built 1969 0.70 ac lot $63/sqft · 71% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tons of opportunity in this fixer-upper. Buy as a rental and implement the BRRR method, or flip the house. Great for a handy person to purchase for themself as well. SOLD AS-IS.

Key facts

• 0.7 acre lot
• Built 1969
• Listed 345 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($991 rent vs $48k).
• Recommended offer: $42k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 3.3% in Rome — 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 64/100 on livability (#266 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Floyd County (rural): math 41% / reading 40% proficiency, ranked #45 of 174 in GA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 55 active listings in the ZIP; 355 units permitted in Floyd County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $332 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Floyd County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 345 days — a 12% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $42,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 345 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.06% ✓
• Cap rate: 17.65%
• Cash-on-cash: 40.55%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

• ARV (median comp): $166,341
• List price: $48,000
• Delta: -71.14%
• Verdict: UNDERPRICED
• Comps: 8 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.1%
• Equity multiple: 2.26×
• Total profit: $16,968
• Equity at exit: $7,157

10-year hold

• IRR: 37.4%
• Equity multiple: 4.48×
• Total profit: $46,790
• Equity at exit: $4,150

Cash invested: $13,440 (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 30173

• Home prices YoY: -26.2%
• Active inventory: 55
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $991 medium
• Mortgage (P&I): −$252
• Tax from tax record: −$57 /mo · $685/yr
• Insurance: −$20
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $388

Break-even live

Break-even rent $500

Max offer price $48,000

Occupancy floor 56%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $48,000 Active 345 DOM
2. 2026-06-17
   days on market $48,000 Active 344 DOM
3. 2026-06-16
   days on market $48,000 Active 343 DOM
4. 2026-06-15
   days on market $48,000 Active 342 DOM
5. 2026-06-14
   days on market $48,000 Active 340 DOM
6. 2026-06-13
   days on market $48,000 Active 339 DOM
7. 2026-06-10
   days on market $48,000 Active 337 DOM
8. 2026-06-09
   days on market $48,000 Active 336 DOM
9. 2026-06-08
   days on market $48,000 Active 335 DOM
10. 2026-06-07
    days on market $48,000 Active 334 DOM
11. 2026-06-03
    days on market $48,000 Active 330 DOM
12. 2026-06-02
    days on market $48,000 Active 329 DOM
13. 2026-06-01
    days on market $48,000 Active 328 DOM
14. 2026-05-31
    days on market $48,000 Active 327 DOM
15. 2026-05-30
    days on market $48,000 Active 326 DOM
16. 2025-10-07
    soldstatus $48,000
17. 2025-09-19
    soldstatus $48,000 Sold 177-char remark

    Show marketing remark (177 chars)

    Tons of opportunity in this fixer-upper. Buy as a rental and implement the BRRR method, or flip the house. Great for a handy person to purchase for themself as well. SOLD AS-IS.

18. 2025-07-22
    historical
19. 2025-07-08
    listed $48,000 New 177-char remark

    Show marketing remark (177 chars)

    Tons of opportunity in this fixer-upper. Buy as a rental and implement the BRRR method, or flip the house. Great for a handy person to purchase for themself as well. SOLD AS-IS.

20. 2025-07-08
    listed $48,000 New

    Show marketing remark (177 chars)

    Tons of opportunity in this fixer-upper. Buy as a rental and implement the BRRR method, or flip the house. Great for a handy person to purchase for themself as well. SOLD AS-IS.

21. 2025-07-08
    listed $48,000 Active

    Show marketing remark (177 chars)

    Tons of opportunity in this fixer-upper. Buy as a rental and implement the BRRR method, or flip the house. Great for a handy person to purchase for themself as well. SOLD AS-IS.

22. 2024-12-31
    historical
23. 2024-12-31
    historical
24. 2024-09-16
    listed $52,000 New
25. 2024-09-16
    listed $52,000 Active
26. 2011-11-10
    soldstatus $81,157
27. 1986-12-19
    soldstatus $18,000
28. 1983-03-01
    soldstatus $13,500
29. 1977-07-18
    soldstatus $8,500
30. 1977-07-01
    soldstatus $15,000
31. 1976-01-01
    soldstatus $5,500
32. 1975-01-01
    soldstatus $5,050

ⓘ 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: $685 · $57/mo
• Projected year-2 tax: $685 · $57/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $11,893
• − Mortgage interest: −$2,689
• − Property taxes: −$685
• − Insurance: −$1,038
• − Repairs & maintenance: −$951
• − Management: −$951
• − Depreciation: −$1,396
• Taxable income: $4,182
• Est. tax owed @ 24.0%: −$1,004
• After-tax cash flow: $3,648/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: Floyd County
• NCES district ID: 1302190
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $47,083
• Composite: 34.64/100
• National rank: #5143
• State rank: #45 of 174 in GA

Livability — Rome

• Score: 64/100
• State rank: #266
• US rank: #14459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 77,706
• Population (ZIP): 6,915

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 96,321 people
• By 2030: 95,532 · -0.8%
• By 2040: 93,332 · -3.1%
• By 2050: 90,850 · -5.7%
• By 2075: 84,989 · -11.8%
• By 2100: 76,097 · -21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 8% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Floyd

• 2024 margin: Solid R (+42.0) · D 28.8% · R 70.7%
• 2008→2024 swing: -5.6pp toward R · 2008: -36.4pp · 2024: -42.0pp
• All cycles: 2024: R+42.0 2020: R+41.1 2016: R+43.5 2012: R+39.9 2008: R+36.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.41%
• Current HPI: 256.8288
• 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

+850.5% since first listed

17 events — show timeline

• 2025-10-07 Sold (Public Records) $48,000 Public Records
• 2025-09-19 Sold (MLS) $48,000 GAMLS
• 2025-07-22 Listing Removed — GAMLS
• 2025-07-08 Listed $48,000 FMLS
• 2025-07-08 Listed $48,000 GAMLS
• 2025-07-08 Listed $48,000 GAMLS
• 2024-12-31 Listing Removed — FMLS
• 2024-12-31 Listing Removed — GAMLS
• 2024-09-16 Listed $52,000 FMLS
• 2024-09-16 Listed $52,000 GAMLS
• 2011-11-10 Sold (Public Records) $81,157 Public Records
• 1986-12-19 Sold (Public Records) $18,000 Public Records
• 1983-03-01 Sold (Public Records) $13,500 Public Records
• 1977-07-18 Sold (Public Records) $8,500 Public Records
• 1977-07-01 Sold (Public Records) $15,000 Public Records
• 1976-01-01 Sold (Public Records) $5,500 Public Records
• 1975-01-01 Sold (Public Records) $5,050 Public Records

Property tax history

+5.3%/yr

Latest (2025): $685 · +0.5% YoY. Source: county tax records.