1117 N Madison St · Thomasville, GA 31792

$150,000

3 bd · 1.0 ba · 1,608 sqft · SingleFamily public records · 39 Days on market

Built 1890 0.72 ac lot $93/sqft · 13% below area Est $172k · 13% 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 +26.1/30.0
• ARV discount +13.3/15.0
• DSCR +8.8/10.0
• 1% rule +6.9/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

First time home buyer/ Investor Special!! 3bed/1bath. This home with utilities on, and with a little work is ready to go. Plenty of living space with the home offering 1608 sqft. 0.72 acre Lot with good visibility and high traffic. Zoned C-1. Residential Development in progress in the surrounding area. Call your favorite realtor today for more information.

Key facts

• 0.72 acre lot
• Built 1890
• Listed 38 days

Property features AI

Exterior

• Parking: Open parking
• Utilities: Public water
• Home design: Single-family residence; One-level / single story
• Construction: Vinyl siding
• Exterior features: Shingle roof

Interior

• Flooring: Wood
• Bathrooms: 1 full bathroom
• Interior features: Wood flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.7% in Thomasville — 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 71/100 on livability (#77 in GA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: schools D, crime F, commute F.
• Thomasville City (town): math 29% / reading 37% proficiency, ranked #87 of 174 in GA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 206 active listings in the ZIP; 3 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; 213 units permitted in Thomas County in 2024 (72 in 5+ unit buildings).
• This rent runs 43% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Thomas County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1890 — 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 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: 1.19% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.76%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (median comp): $172,078
• List price: $150,000
• Delta: -12.83%
• 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
828-A Young St	0.46mi	3/2.0	1,576 (-2%)	10mo	$339,000	$215	63
828 B N Young St	0.46mi	3/2.0	1,621 (+1%)	16mo	$366,000	$226	60
1008 N Young St	0.56mi	4/2.0 (+1)	1,480 (-8%)	1mo	$248,000	$168	51
419 N Crawford St	0.69mi	4/1.5 (+1)	1,735 (+8%)	4mo	$317,000	$183	44
1007 N Young St	0.53mi	3/2.0	1,492 (-7%)	19mo	$144,900	$97	44
140 Forrest St	0.58mi	3/1.5	1,725 (+7%)	21mo	$157,000	$91	41
419 E Clay St	0.75mi	3/2.0	1,568 (-2%)	20mo	$308,500	$197	41
429 E Calhoun St	0.68mi	4/1.5 (+1)	1,775 (+10%)	5mo	$10,000	$6	40

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-293
• Equity at exit: $22,365

10-year hold

• IRR: 9.5%
• Equity multiple: 1.73×
• Total profit: $30,742
• Equity at exit: $12,969

Cash invested: $42,000 (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 31792

• Home prices YoY: -29.0%
• Active inventory: 206
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,789 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $377

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 74%

Sensitivity live

Price	-10% $480	-5% $428	+0% $377	+5% $325	+10% $273
Rent	-10% $235	-5% $306	+0% $377	+5% $447	+10% $518
Rate	-1.0pp $452	-0.5pp $415	base $377	+0.5pp $338	+1.0pp $298

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 E Monroe St Unit 1 Thomasville, GA	2.0	1.0	1236	$1,500	$1.21	45d	1	0.76mi
100 Pine St Thomasville, GA	2.0	2.5	1216	$1,550	$1.27	45d	1	0.92mi
306 Brighton St Thomasville, GA	3.0	2.0	1440	$1,800	$1.25	45d	1	1.42mi

Listing history 21 events

1. 2026-06-21
   days on market $150,000 Active 39 DOM
2. 2026-06-19
   days on market $150,000 Active 37 DOM
3. 2026-06-18
   days on market $150,000 Active 36 DOM
4. 2026-06-17
   days on market $150,000 Active 35 DOM
5. 2026-06-16
   days on market $150,000 Active 34 DOM
6. 2026-06-15
   days on market $150,000 Active 33 DOM
7. 2026-06-14
   days on market $150,000 Active 31 DOM
8. 2026-06-12
   days on market $150,000 Active 30 DOM
9. 2026-06-09
   days on market $150,000 Active 27 DOM
10. 2026-06-08
    days on market $150,000 Active 26 DOM
11. 2026-06-07
    days on market $150,000 Active 25 DOM
12. 2026-06-07
    days on market $150,000 Active 24 DOM
13. 2026-06-03
    days on market $150,000 Active 21 DOM
14. 2026-06-02
    days on market $150,000 Active 20 DOM
15. 2026-06-01
    days on market $150,000 Active 19 DOM
16. 2026-05-31
    days on market $150,000 Active 18 DOM
17. 2026-05-31
    days on market $150,000 Active 17 DOM
18. 2026-05-13
    listed $150,000 Active 358-char remark
19. 2015-04-30
    soldstatus $200,000
20. 2011-05-05
    soldstatus $65,000
21. 2005-05-01
    soldstatus $18,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,467
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,717
• − Management: −$1,717
• − Depreciation: −$4,364
• Taxable income: $2,266
• Est. tax owed @ 24.0%: −$544
• After-tax cash flow: $3,976/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: Thomasville City
• NCES district ID: 1304950
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 37% ▼ -8.00%
• Median HH income: $31,040
• Composite: 26.85/100
• National rank: #7106
• State rank: #87 of 174 in GA

Livability — Thomasville

• Score: 71/100
• State rank: #77
• US rank: #6678

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomasville, GA
• County: Thomas County · 22,962 people
• City population: 22,962
• Metro: Thomasville, GA
• Population (ZIP): 22,962
• Household income: $50,460
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 1059.0

Population outlook (Thomas County) Hauer SSP2

• Today (2025): 45,303 people
• By 2030: 45,052 · -0.6%
• By 2040: 44,034 · -2.8%
• By 2050: 42,310 · -6.6%
• By 2075: 37,569 · -17.1%
• By 2100: 30,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: Black 49% White 47% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Thomas

• 2024 margin: Strong R (+24.1) · D 37.8% · R 61.9%
• 2008→2024 swing: -8.3pp toward R · 2008: -15.8pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+19.5 2016: R+21.8 2012: R+18.5 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.17%
• Current HPI: 228.0107
• Rent YoY: —
• Metro: Thomasville, 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

+733.3% since first listed

4 events — show timeline

• 2026-05-13 Listed $150,000 TABRMLS
• 2015-04-30 Sold (Public Records) $200,000 Public Records
• 2011-05-05 Sold (Public Records) $65,000 Public Records
• 2005-05-01 Sold (Public Records) $18,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $258 · +0.6% YoY. Source: county tax records.