1040 River Woods Dr · Buckhead, GA 30650

$184,900

3 bd · 2.0 ba · 1,536 sqft · Manufactured public records

Built 2021 0.78 ac lot ↓ 12% since listing

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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 +21.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.7/10.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the perfect blend of comfort and charm in Morgan County! This property offers approximately over 1500 square feet of open living space, on an expansive .78 acre tract. Enjoy the privacy of your spacious backyard, complete with a 3 year old, powered 14' x 28' shed perfect for your workshop or offers plenty of storage options. Located just a short drive from Lake Oconee, this 4-bedroom, 2-bath home features a large owner's suite with a built in desk area off the hall. The open living room flows into the kitchen and dining areas, creating an inviting space for gatherings. With quick access to Lake Oconee and downtown Madison, this property is a great investment that you surly do not want to miss!

Key facts

• 0.78 acre lot
• Built 2021

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (2.8% below list).
• Recommended offer: $180k (2.8% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 3.3% in Buckhead — 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 61/100 on livability (#334 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Morgan County (town): math 49% / reading 45% proficiency, ranked #20 of 174 in GA (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Morgan County Primary School (872 students, 50% FRL); Morgan County Middle School (math 44% / reading 49%, grade D+, #94 of 470 statewide, top 20%, 806 students, 41% FRL); Morgan County High School (math 39% / reading 32%, grade F, #81 of 424 statewide, top 19%, 1,072 students, 36% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 160 active listings in the ZIP; 164 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Morgan County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $179,668 (2.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 8.04%
• Cash-on-cash: 6.22%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-12,912
• Equity at exit: $27,569

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $10,570
• Equity at exit: $15,987

Cash invested: $51,772 (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 30650

• Active inventory: 160
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,797 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$104 /mo · $1,250/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $268

Break-even live

Break-even rent $1,457

Max offer price $184,900

Occupancy floor 80%

Sensitivity live

Price	-10% $373	-5% $321	+0% $268	+5% $216	+10% $164
Rent	-10% $127	-5% $198	+0% $268	+5% $339	+10% $410
Rate	-1.0pp $362	-0.5pp $316	base $268	+0.5pp $221	+1.0pp $172

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2025-07-24
   soldstatus $176,900
2. 2025-07-18
   soldstatus $176,900 Sold 711-char remark

   Show marketing remark (724 chars)

   Discover the perfect blend of comfort and charm in Morgan County! This property offers approximately over 1500 square feet of open living space, on an expansive . 78 acre tract. Enjoy the privacy of your spacious backyard, complete with a 3 year old, powered 14’ x 28’ shed perfect for your workshop or offers plenty of storage options. Located just a short drive from Lake Oconee, this 4-bedroom, 2-bath home features a large owner's suite with a built in desk area off the hall. The open living room flows into the kitchen and dining areas, creating an inviting space for gatherings. With quick access to Lake Oconee and downtown Madison, this property is a great investment that you surly do not want to miss!

3. 2025-07-18
   soldstatus $176,900 Closed 724-char remark

   Show marketing remark (724 chars)

   Discover the perfect blend of comfort and charm in Morgan County! This property offers approximately over 1500 square feet of open living space, on an expansive . 78 acre tract. Enjoy the privacy of your spacious backyard, complete with a 3 year old, powered 14’ x 28’ shed perfect for your workshop or offers plenty of storage options. Located just a short drive from Lake Oconee, this 4-bedroom, 2-bath home features a large owner's suite with a built in desk area off the hall. The open living room flows into the kitchen and dining areas, creating an inviting space for gatherings. With quick access to Lake Oconee and downtown Madison, this property is a great investment that you surly do not want to miss!

4. 2025-07-14
   status Pending 724-char remark

   Show marketing remark (724 chars)

   Discover the perfect blend of comfort and charm in Morgan County! This property offers approximately over 1500 square feet of open living space, on an expansive . 78 acre tract. Enjoy the privacy of your spacious backyard, complete with a 3 year old, powered 14’ x 28’ shed perfect for your workshop or offers plenty of storage options. Located just a short drive from Lake Oconee, this 4-bedroom, 2-bath home features a large owner's suite with a built in desk area off the hall. The open living room flows into the kitchen and dining areas, creating an inviting space for gatherings. With quick access to Lake Oconee and downtown Madison, this property is a great investment that you surly do not want to miss!

5. 2025-07-08
   status Under Contract 711-char remark

   Show marketing remark (711 chars)

   Discover the perfect blend of comfort and charm in Morgan County! This property offers approximately over 1500 square feet of open living space, on an expansive .78 acre tract. Enjoy the privacy of your spacious backyard, complete with a 3 year old, powered 14' x 28' shed perfect for your workshop or offers plenty of storage options. Located just a short drive from Lake Oconee, this 4-bedroom, 2-bath home features a large owner's suite with a built in desk area off the hall. The open living room flows into the kitchen and dining areas, creating an inviting space for gatherings. With quick access to Lake Oconee and downtown Madison, this property is a great investment that you surly do not want to miss!

6. 2025-07-08
   historical

   Show marketing remark (711 chars)

   Discover the perfect blend of comfort and charm in Morgan County! This property offers approximately over 1500 square feet of open living space, on an expansive .78 acre tract. Enjoy the privacy of your spacious backyard, complete with a 3 year old, powered 14' x 28' shed perfect for your workshop or offers plenty of storage options. Located just a short drive from Lake Oconee, this 4-bedroom, 2-bath home features a large owner's suite with a built in desk area off the hall. The open living room flows into the kitchen and dining areas, creating an inviting space for gatherings. With quick access to Lake Oconee and downtown Madison, this property is a great investment that you surly do not want to miss!

7. 2025-07-03
   listed $184,900 Active 724-char remark

   Show marketing remark (724 chars)

   Discover the perfect blend of comfort and charm in Morgan County! This property offers approximately over 1500 square feet of open living space, on an expansive . 78 acre tract. Enjoy the privacy of your spacious backyard, complete with a 3 year old, powered 14’ x 28’ shed perfect for your workshop or offers plenty of storage options. Located just a short drive from Lake Oconee, this 4-bedroom, 2-bath home features a large owner's suite with a built in desk area off the hall. The open living room flows into the kitchen and dining areas, creating an inviting space for gatherings. With quick access to Lake Oconee and downtown Madison, this property is a great investment that you surly do not want to miss!

8. 2025-06-24
   listed $184,900 New 711-char remark

   Show marketing remark (711 chars)

   Discover the perfect blend of comfort and charm in Morgan County! This property offers approximately over 1500 square feet of open living space, on an expansive .78 acre tract. Enjoy the privacy of your spacious backyard, complete with a 3 year old, powered 14' x 28' shed perfect for your workshop or offers plenty of storage options. Located just a short drive from Lake Oconee, this 4-bedroom, 2-bath home features a large owner's suite with a built in desk area off the hall. The open living room flows into the kitchen and dining areas, creating an inviting space for gatherings. With quick access to Lake Oconee and downtown Madison, this property is a great investment that you surly do not want to miss!

9. 2025-06-24
   listed $184,900

   Show marketing remark (711 chars)

   Discover the perfect blend of comfort and charm in Morgan County! This property offers approximately over 1500 square feet of open living space, on an expansive .78 acre tract. Enjoy the privacy of your spacious backyard, complete with a 3 year old, powered 14' x 28' shed perfect for your workshop or offers plenty of storage options. Located just a short drive from Lake Oconee, this 4-bedroom, 2-bath home features a large owner's suite with a built in desk area off the hall. The open living room flows into the kitchen and dining areas, creating an inviting space for gatherings. With quick access to Lake Oconee and downtown Madison, this property is a great investment that you surly do not want to miss!

10. 2022-01-28
    soldstatus $170,000 Closed
11. 2022-01-28
    soldstatus $170,000
12. 2022-01-28
    soldstatus $170,000
13. 2022-01-17
    status Pending
14. 2022-01-09
    listed $174,900
15. 2021-12-15
    price $174,900
16. 2021-11-11
    price $179,900
17. 2021-10-14
    status Active
18. 2021-10-07
    status Pending
19. 2021-09-16
    price $189,900
20. 2021-08-31
    price $197,500
21. 2021-07-08
    listed $174,900
22. 2021-07-07
    listed $199,900 Active

ⓘ 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: $1,250 · $104/mo
• Projected year-2 tax: $1,701 · $142/mo
• Expected delta: +$451/yr (+$38/mo · 36.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $21,560
• − Mortgage interest: −$10,357
• − Property taxes: −$1,250
• − Insurance: −$924
• − Repairs & maintenance: −$1,725
• − Management: −$1,725
• − Depreciation: −$5,379
• Taxable income: $199
• Est. tax owed @ 24.0%: −$48
• After-tax cash flow: $3,174/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: Morgan County
• NCES district ID: 1303780
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $50,713
• Composite: 40.39/100
• National rank: #3731
• State rank: #20 of 174 in GA

Livability — Buckhead

• Score: 61/100
• State rank: #334
• US rank: #17547

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 35,668
• Population (ZIP): 13,398

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 18,277 people
• By 2030: 18,213 · -0.4%
• By 2040: 17,709 · -3.1%
• By 2050: 16,761 · -8.3%
• By 2075: 14,143 · -22.6%
• By 2100: 10,523 · -42.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 26% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+46.0) · D 26.8% · R 72.8%
• 2008→2024 swing: -14.3pp toward R · 2008: -31.6pp · 2024: -46.0pp
• All cycles: 2024: R+46.0 2020: R+41.7 2016: R+41.4 2012: R+38.0 2008: R+31.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.25%
• Current HPI: 282.7041
• 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

-11.5% since first listed

22 events — show timeline

• 2025-07-24 Sold (Public Records) $176,900 Public Records
• 2025-07-18 Sold (MLS) $176,900 LCBR
• 2025-07-18 Sold (MLS) $176,900 GAMLS
• 2025-07-14 Pending — LCBR
• 2025-07-08 Pending — GAMLS
• 2025-07-08 Listing Removed — Hive MLS
• 2025-07-03 Listed $184,900 LCBR
• 2025-06-24 Listed $184,900 Hive MLS
• 2025-06-24 Listed $184,900 GAMLS
• 2022-01-28 Sold (MLS) $170,000 LCBR
• 2022-01-28 Sold (MLS) $170,000 Hive MLS
• 2022-01-28 Sold (MLS) $170,000 FMLS
• 2022-01-17 Pending — FMLS
• 2022-01-09 Listed $174,900 LCBR
• 2021-12-15 Price Changed $174,900 FMLS
• 2021-11-11 Price Changed $179,900 FMLS
• 2021-10-14 Relisted — FMLS
• 2021-10-07 Pending — FMLS
• 2021-09-16 Price Changed $189,900 FMLS
• 2021-08-31 Price Changed $197,500 FMLS
• 2021-07-08 Listed $174,900 Hive MLS
• 2021-07-07 Listed $199,900 FMLS

Property tax history

+33.5%/yr

Latest (2025): $1,250 · -1.6% YoY. Source: county tax records.