250 Cleveland Rd #228 · Athens-Clarke County unified government (balance), GA 30622

$199,900

2 bd · 2.0 ba · 1,215 sqft · Condo public records · 142 Days on market

Built 1985 $165/sqft · 7% below area Est $215k · 7% under $200/mo HOA · 11% of rent

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Why this score? — see what drove the D 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 +12.5/30.0
• ARV discount +10.8/15.0
• 1% rule +4.4/10.0
• DSCR +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This freshly repainted, well-maintained 2-bedroom, 2-bath condo is conveniently located in the Athens area, offering easy access to shopping, dining, and everyday essentials. Inside, you'll find a comfortable living room that flows into the dining area, creating a functional layout for daily living or entertaining. Out back, enjoy views of a peaceful pond that provides a calm, relaxing backdrop. Whether you're looking for a primary residence or an investment opportunity, this condo combines location, layout, and a serene setting in one inviting package.

Key facts

• Functional layout
• $200 HOA
• 2 parking spots

Tags

• EASY ACCESS TO SHOPPING
• VIEWS OF A PEACEFUL POND
• FUNCTIONAL LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-30 ($-358/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (5.9% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 3.3% in Athens-Clarke County unified government (balance) — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Clarke County (urban): math 17% / reading 21% proficiency, ranked #146 of 174 in GA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 140 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,172 units permitted in Clarke County in 2024 (876 in 5+ unit buildings).
• This rent is only 17% of the median local income ($134k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• Clarke County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; list at $200k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% 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 $175,912 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• GRM: 8.9

CMA / ARV

• ARV (median comp): $215,498
• List price: $199,900
• Delta: -7.24%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-34,184
• Equity at exit: $29,806

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-31,765
• Equity at exit: $17,284

Cash invested: $55,972 (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 30622

• Home prices YoY: -30.2%
• Active inventory: 140
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,881 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$184 /mo · $2,209/yr
• Insurance: −$83
• HOA: −$200
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $-30

Break-even live

Break-even rent $1,919

Max offer price $194,624

Occupancy floor 97%

Sensitivity live

Price	-10% $83	-5% $27	+0% $-30	+5% $-86	+10% $-143
Rent	-10% $-178	-5% $-104	+0% $-30	+5% $44	+10% $119
Rate	-1.0pp $71	-0.5pp $21	base $-30	+0.5pp $-82	+1.0pp $-134

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 Cleveland Rd Bogart, GA	2.0	2.0–2.5	1342	$1,400	$1.04	22d	2	0.09mi
135 Logmont Trce Athens, GA	2.0	2.5	1332	$1,550	$1.16	45d	1	0.12mi
332 Park West Blvd General, GA	3.0	2.0	1500	$2,200	$1.47	45d	1	0.74mi
332 Park West Blvd Unit NA Bogart, GA	3.0	2.0	1500	$2,100	$1.40	22d	1	0.74mi
150 Westpark Dr Athens, GA	1.0–2.0	1.0–2.0	952	$1,745	$1.83	14d	18	0.99mi
225 Jennings Mill Pkwy Athens, GA	1.0–3.0	1.0–2.0	1225	$1,843	$1.50	14d	22	1.02mi
125 Jennings Mill Pkwy Athens, GA	1.0–2.0	1.0–2.0	930	$1,582	$1.70	14d	13	1.24mi
2035 Timothy Rd Athens, GA	1.0–3.0	1.0–2.0	1031	$1,666	$1.61	14d	14	1.37mi

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-21
   days on market $199,900 Active 142 DOM
2. 2026-06-19
   days on market $199,900 Active 140 DOM
3. 2026-06-18
   days on market $199,900 Active 139 DOM
4. 2026-06-17
   days on market $199,900 Active 138 DOM
5. 2026-06-16
   days on market $199,900 Active 137 DOM
6. 2026-06-15
   days on market $199,900 Active 136 DOM
7. 2026-06-14
   days on market $199,900 Active 134 DOM
8. 2026-06-13
   days on market $199,900 Active 133 DOM
9. 2026-06-10
   days on market $199,900 Active 131 DOM
10. 2026-06-09
    days on market $199,900 Active 130 DOM
11. 2026-06-08
    days on market $199,900 Active 129 DOM
12. 2026-06-07
    days on market $199,900 Active 128 DOM
13. 2026-06-02
    days on market $199,900 Active 123 DOM
14. 2026-06-01
    days on market $199,900 Active 122 DOM
15. 2026-05-31
    remarks 687-char remark
16. 2026-05-31
    days on market $199,900 Active 121 DOM
17. 2026-05-30
    days on market $199,900 Active 120 DOM
18. 2026-05-02
    price $209,900 559-char remark

    Show marketing remark (571 chars)

    This freshly repainted, well-maintained 2-bedroom, 2-bath condo is conveniently located in the Athens area, offering easy access to shopping, dining, and everyday essentials. Inside, you’ll find a comfortable living room that flows into the dining area, creating a functional layout for daily living or entertaining. Out back, enjoy views of a peaceful pond that provides a calm, relaxing backdrop. Whether you’re looking for a primary residence or an investment opportunity, this condo combines location, layout, and a serene setting in one inviting package.

19. 2026-05-02
    price $209,900 571-char remark

    Show marketing remark (571 chars)

    This freshly repainted, well-maintained 2-bedroom, 2-bath condo is conveniently located in the Athens area, offering easy access to shopping, dining, and everyday essentials. Inside, you’ll find a comfortable living room that flows into the dining area, creating a functional layout for daily living or entertaining. Out back, enjoy views of a peaceful pond that provides a calm, relaxing backdrop. Whether you’re looking for a primary residence or an investment opportunity, this condo combines location, layout, and a serene setting in one inviting package.

20. 2026-01-23
    listed $219,900 New 559-char remark

    Show marketing remark (571 chars)

    This freshly repainted, well-maintained 2-bedroom, 2-bath condo is conveniently located in the Athens area, offering easy access to shopping, dining, and everyday essentials. Inside, you’ll find a comfortable living room that flows into the dining area, creating a functional layout for daily living or entertaining. Out back, enjoy views of a peaceful pond that provides a calm, relaxing backdrop. Whether you’re looking for a primary residence or an investment opportunity, this condo combines location, layout, and a serene setting in one inviting package.

21. 2026-01-23
    listed $219,900 Active 571-char remark

    Show marketing remark (571 chars)

    This freshly repainted, well-maintained 2-bedroom, 2-bath condo is conveniently located in the Athens area, offering easy access to shopping, dining, and everyday essentials. Inside, you’ll find a comfortable living room that flows into the dining area, creating a functional layout for daily living or entertaining. Out back, enjoy views of a peaceful pond that provides a calm, relaxing backdrop. Whether you’re looking for a primary residence or an investment opportunity, this condo combines location, layout, and a serene setting in one inviting package.

22. 2025-11-22
    historical
23. 2025-11-22
    historical
24. 2025-10-20
    price $218,500
25. 2025-10-01
    price $230,000
26. 2025-08-25
    price $235,000
27. 2025-08-18
    listed $218,500
28. 2025-08-18
    listed $224,000 New
29. 2011-05-18
    soldstatus $87,900
30. 2011-05-12
    soldstatus $87,900
31. 2010-09-12
    listed $97,900
32. 1996-09-17
    soldstatus $71,780
33. 1995-09-29
    soldstatus $68,000
34. 1994-04-05
    soldstatus $59,900

ⓘ 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: $2,209 · $184/mo
• Projected year-2 tax: $2,209 · $184/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,569
• − Mortgage interest: −$11,198
• − Property taxes: −$2,209
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,806
• − Management: −$1,806
• − HOA: −$2,400
• − Depreciation: −$5,815
• Taxable loss: −$3,663
• Est. tax savings @ 24.0%: +$879
• After-tax cash flow: $521/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: Clarke County
• NCES district ID: 1301170
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $33,649
• Composite: 15.51/100
• National rank: #9302
• State rank: #146 of 174 in GA

Livability — Athens-Clarke County unified government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Athens-Clarke County unified government (balance), GA
• County: Oconee County · 33,896 people
• City population: 119,110
• Metro: Athens-Clarke County, GA
• Population (ZIP): 11,280
• Household income: $133,563
• Rent vs Own: 18.8% rent · 81.2% own
• Severe rent burden: 94.0

Population outlook (Clarke County) Hauer SSP2

• Today (2025): 141,365 people
• By 2030: 151,724 · +7.3%
• By 2040: 168,541 · +19.2%
• By 2050: 184,855 · +30.8%
• By 2075: 221,736 · +56.9%
• By 2100: 253,853 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 8% Black 5% Asian 5% Hispanic / Latino 3%
• Common ancestry: Slovak 5% Serbian 4% Italian 2%
• Foreign-born: 7% · China, South Korea, Canada
• Languages at home: 91% English-only · Spanish 3% Chinese 2% Korean 1%

Political lean MEDSL · Clarke

• 2024 margin: Solid D (+38.3) · D 68.6% · R 30.4% · Other 1.0%
• 2008→2024 swing: +7.0pp toward D · 2008: 31.3pp · 2024: 38.3pp
• All cycles: 2024: D+38.3 2020: D+42.1 2016: D+38.0 2012: D+28.9 2008: D+31.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.34%
• Current HPI: 255.4345
• Rent YoY: —
• Metro: Athens-Clarke County, 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

+250.4% since first listed

17 events — show timeline

• 2026-05-02 Price Changed $209,900 GAMLS
• 2026-05-02 Price Changed $209,900 FMLS
• 2026-01-23 Listed $219,900 FMLS
• 2026-01-23 Listed $219,900 GAMLS
• 2025-11-22 Listing Removed — GAMLS
• 2025-11-22 Listing Removed — Hive MLS
• 2025-10-20 Price Changed $218,500 GAMLS
• 2025-10-01 Price Changed $230,000 GAMLS
• 2025-08-25 Price Changed $235,000 GAMLS
• 2025-08-18 Listed $224,000 GAMLS
• 2025-08-18 Listed $218,500 Hive MLS
• 2011-05-18 Sold (Public Records) $87,900 Public Records
• 2011-05-12 Sold (MLS) $87,900 Hive MLS
• 2010-09-12 Listed $97,900 Hive MLS
• 1996-09-17 Sold (Public Records) $71,780 Public Records
• 1995-09-29 Sold (Public Records) $68,000 Public Records
• 1994-04-05 Sold (Public Records) $59,900 Public Records

Property tax history

+8.5%/yr

Latest (2025): $2,209 · +1.9% YoY. Source: county tax records.