921 N Wayne St · Milledgeville, GA 31061

$89,900

2 bd · 1.0 ba · 884 sqft · SingleFamily public records · 59 Days on market

Built 1966 8,712 sqft lot $102/sqft · at area comps Est $91k · at est.

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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 +27.4/30.0
• DSCR +9.6/10.0
• ARV discount +8.1/15.0
• 1% rule +6.9/10.0
• 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

Cozy Home Conveniently Located Close to 441, GCSU, and Downtown Milledgeville! Home is a One Bedroom, One Bathroom, with an Extra Room Being Used as a Bedroom. Good Sized Lot in Great Area! Other Structure at Back of Lot Will Most Likely Need to Be Torn Down.

Key facts

• Replaced water line
• Large lot
• Newer blinds

Tags

• NEW HVAC SYSTEM
• REPLACED WATER LINE
• UPDATED LIGHT FIXTURES
• NEWER BLINDS
• LARGE LOT
• MINUTES FROM HIGHWAY 441

Property features AI

Finance

• Other: Lot approximately 0.2 acres
• Financial info: Listing available for Cash, Conventional, and FHA financing; Property sold as-is; agent owned
• HOA & community: No homeowners association

Exterior

• Parking: Off-street parking for 2 vehicles
• Security: Security system
• Utilities: Public water; Public sewer; Electricity available; Cable available; Sewer connected; Water available
• Home design: Single family residence; House structure; Built in 1966; One story
• Construction: Aluminum siding; Vinyl siding; Composition roof; Crawl space foundation
• Exterior features: Other exterior features; Grassed yard; City lot; Level lot

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating with forced air; Central air conditioning; Electric cooling; Ceiling fan(s)
• Interior features: Other interior features; One-level layout; Crawl space basement; Family room and additional flexible room
• Laundry & utility: Washer and dryer; Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: Lakeview Primary (835 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); 382 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $22k; list at $90k implies a 318% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 58% 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 $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1966 — 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: 1.19% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.53%
• DSCR: 1.56
• GRM: 7.0

CMA / ARV

• ARV (median comp): $91,051
• List price: $89,900
• Delta: -1.26%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
401 W Charlton St	0.45mi	2/1.0	836 (-5%)	3mo	$87,000	$104	68

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: 3.4%
• Equity multiple: 1.13×
• Total profit: $3,304
• Equity at exit: $13,404

10-year hold

• IRR: 13.8%
• Equity multiple: 2.16×
• Total profit: $29,187
• Equity at exit: $7,773

Cash invested: $25,172 (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: 382
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,070 high
• Mortgage (P&I): −$471
• Tax from tax record: −$74 /mo · $882/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $263

Break-even live

Break-even rent $737

Max offer price $89,900

Occupancy floor 70%

Sensitivity live

Price	-10% $314	-5% $288	+0% $263	+5% $237	+10% $212
Rent	-10% $178	-5% $221	+0% $263	+5% $305	+10% $347
Rate	-1.0pp $308	-0.5pp $286	base $263	+0.5pp $240	+1.0pp $216

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Jacqueline Ter NW Milledgeville, GA	2.0	1.0	750	$925	$1.23	46d	1	1.03mi
1920 Karen Cir Milledgeville, GA	2.0	2.0	1125	$985	$0.88	46d	1	1.14mi
1900 N Jefferson St NE Milledgeville, GA	2.0	1.0	975	$1,195	$1.23	15d	1	1.15mi
450 W Franklin St Milledgeville, GA	2.0	1.0	800	$995	$1.24	46d	1	1.23mi
621 S Wilkinson St Milledgeville, GA	2.0	2.0	800	$900	$1.12	46d	1	1.36mi

Listing history 31 events

1. 2026-06-22
   days on market $89,900 Active 59 DOM
2. 2026-06-21
   days on market $89,900 Active 58 DOM
3. 2026-06-19
   days on market $89,900 Active 56 DOM
4. 2026-06-18
   days on market $89,900 Active 55 DOM
5. 2026-06-17
   days on market $89,900 Active 54 DOM
6. 2026-06-16
   days on market $89,900 Active 53 DOM
7. 2026-06-15
   days on market $89,900 Active 52 DOM
8. 2026-06-14
   days on market $89,900 Active 50 DOM
9. 2026-06-12
   days on market $89,900 Active 49 DOM
10. 2026-06-09
    days on market $89,900 Active 46 DOM
11. 2026-06-08
    days on market $89,900 Active 45 DOM
12. 2026-06-07
    days on market $89,900 Active 44 DOM
13. 2026-06-05
    days on market $89,900 Active 41 DOM
14. 2026-06-03
    days on market $89,900 Active 40 DOM
15. 2026-06-02
    days on market $89,900 Active 39 DOM
16. 2026-06-01
    days on market $89,900 Active 38 DOM
17. 2026-05-31
    days on market $89,900 Active 37 DOM
18. 2026-05-30
    days on market $89,900 Active 36 DOM
19. 2026-04-24
    listed $89,900 New 1049-char remark
20. 2022-10-31
    historical
21. 2022-10-21
    price $53,900
22. 2022-09-23
    price $54,900
23. 2022-08-11
    price $59,900
24. 2022-08-04
    price $64,900
25. 2022-07-25
    price $74,900
26. 2022-06-14
    price $79,900
27. 2022-06-08
    listed $89,900 New
28. 2022-03-18
    soldstatus $21,500 Sold

    Show marketing remark (259 chars)

    Cozy Home Conveniently Located Close to 441, GCSU, and Downtown Milledgeville! Home is a One Bedroom, One Bathroom, with an Extra Room Being Used as a Bedroom. Good Sized Lot in Great Area! Other Structure at Back of Lot Will Most Likely Need to Be Torn Down.

29. 2022-01-31
    status Under Contract

    Show marketing remark (259 chars)

    Cozy Home Conveniently Located Close to 441, GCSU, and Downtown Milledgeville! Home is a One Bedroom, One Bathroom, with an Extra Room Being Used as a Bedroom. Good Sized Lot in Great Area! Other Structure at Back of Lot Will Most Likely Need to Be Torn Down.

30. 2021-12-15
    price $44,900

    Show marketing remark (259 chars)

    Cozy Home Conveniently Located Close to 441, GCSU, and Downtown Milledgeville! Home is a One Bedroom, One Bathroom, with an Extra Room Being Used as a Bedroom. Good Sized Lot in Great Area! Other Structure at Back of Lot Will Most Likely Need to Be Torn Down.

31. 2021-12-02
    listed $49,900 New

    Show marketing remark (259 chars)

    Cozy Home Conveniently Located Close to 441, GCSU, and Downtown Milledgeville! Home is a One Bedroom, One Bathroom, with an Extra Room Being Used as a Bedroom. Good Sized Lot in Great Area! Other Structure at Back of Lot Will Most Likely Need to Be Torn Down.

ⓘ 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: $882 · $74/mo
• Projected year-2 tax: $882 · $74/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 58% 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: $12,839
• − Mortgage interest: −$5,036
• − Property taxes: −$882
• − Insurance: −$450
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − Depreciation: −$2,615
• Taxable income: $1,802
• Est. tax owed @ 24.0%: −$432
• After-tax cash flow: $2,721/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

+80.2% since first listed

13 events — show timeline

• 2026-04-24 Listed $89,900 GAMLS
• 2022-10-31 Listing Removed — GAMLS
• 2022-10-21 Price Changed $53,900 GAMLS
• 2022-09-23 Price Changed $54,900 GAMLS
• 2022-08-11 Price Changed $59,900 GAMLS
• 2022-08-04 Price Changed $64,900 GAMLS
• 2022-07-25 Price Changed $74,900 GAMLS
• 2022-06-14 Price Changed $79,900 GAMLS
• 2022-06-08 Listed $89,900 GAMLS
• 2022-03-18 Sold (MLS) $21,500 GAMLS
• 2022-01-31 Pending — GAMLS
• 2021-12-15 Price Changed $44,900 GAMLS
• 2021-12-02 Listed $49,900 GAMLS

Property tax history

+10.4%/yr

Latest (2025): $882 · -2.6% YoY. Source: county tax records.