41 Norwood Ave · Toccoa, GA 30577

$165,000

2 bd · 1.0 ba · 1,001 sqft · SingleFamily public records · 56 Days on market

Built 1950 0.52 ac lot $165/sqft · 44% above area Est $258k · 36% under

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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).

• ARV discount +15.0/15.0
• Appreciation +8.1/10.0
• Cash flow +7.8/30.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.6/10.0

Listing remarks MLS

Ready for in-town living, check out this cozy cottage in Toccoa. Enjoy the spacious, remodeled kitchen with a pantry and laundry closet adjacent to the dining room. Lovely hardwood floors and new energy-efficient windows embrace this 2-bedroom/1-bathroom home. Located on an over 1/2-acre full-corner lot, this yard is ready for a makeover. A cozy patio just off the kitchen is ready for outdoor entertaining.

Key facts

• Pantry
• Remodeled kitchen
• Full corner lot

Tags

• REMODELED KITCHEN
• PANTRY
• LAUNDRY CLOSET
• HARDWOOD FLOORS
• ENERGY EFFICIENT WINDOWS
• FULL CORNER LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-184 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (33.5% below list).
• Recommended offer: $110k (33.5% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.4% in Toccoa — 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 (#131 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Stephens County (rural): math 34% / reading 34% proficiency, ranked #74 of 174 in GA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 226 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 52 units permitted in Stephens County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (6.2% local appreciation)).
• Stephens County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $110k; list at $165k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,650 (33.5% 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 56 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.66% ✗
• Cap rate: 4.95%
• Cash-on-cash: -4.78%
• DSCR: 0.79
• GRM: 12.5

CMA / ARV

• ARV (median comp): $258,426
• List price: $165,000
• Delta: -36.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
369 Skyline Dr	0.67mi	3/1.0 (+1)	1,071 (+7%)	0mo	$220,000	$205	52
438 US 123	0.40mi	2/2.0	900 (-10%)	19mo	$200,000	$222	45
998 Rosedale St	0.75mi	3/1.0 (+1)	1,080 (+8%)	3mo	$212,000	$196	44
20 Lucille Ln	0.70mi	2/1.0	1,042 (+4%)	21mo	$165,500	$159	43
158 Poplar St	0.65mi	2/1.0	1,105 (+10%)	13mo	$182,000	$165	42
247 Collins Rd	0.64mi	2/1.0	1,072 (+7%)	23mo	$90,000	$84	39
63 Park St	0.58mi	2/1.0	876 (-12%)	17mo	$135,000	$154	38
232 Hilltop Ln	0.59mi	3/1.0 (+1)	1,134 (+13%)	10mo	$185,000	$163	37
143 Mitchell St	0.61mi	2/2.0	1,140 (+14%)	22mo	$198,500	$174	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.1%
• Equity multiple: 1.83×
• Total profit: $38,373
• Equity at exit: $106,386

10-year hold

• IRR: 12.8%
• Equity multiple: 3.63×
• Total profit: $121,352
• Equity at exit: $195,264

Cash invested: $46,200 (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 30577

• Home prices YoY: 2.0%
• Active inventory: 226
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,096 high
• Mortgage (P&I): −$865
• Tax from tax record: −$116 /mo · $1,396/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $-184

Break-even live

Break-even rent $1,330

Max offer price $132,472

Occupancy floor —

Sensitivity live

Price	-10% $-91	-5% $-137	+0% $-184	+5% $-231	+10% $-278
Rent	-10% $-271	-5% $-227	+0% $-184	+5% $-141	+10% $-98
Rate	-1.0pp $-101	-0.5pp $-142	base $-184	+0.5pp $-227	+1.0pp $-270

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37 Andrews Ct Unit 103 Toccoa, GA	1.0	1.0	825	$795	$0.96	24d	1	0.25mi
44 Andrews Ct Unit 103 Toccoa, GA	1.0	1.0	835	$895	$1.07	4d	1	0.25mi
16 Andrews Ct Unit 101 Toccoa, GA	1.0	1.0	835	$950	$1.14	20d	1	0.27mi
115 Forest Ave Toccoa, GA	2.0	2.0	1000	$1,300	$1.30	24d	1	0.47mi
161 S Pine St Toccoa, GA	3.0	1.0	1110	$1,195	$1.08	44d	1	1.46mi

Listing history 14 events

1. 2026-06-02
   status $165,000 Pending 56 DOM
2. 2026-06-01
   days on market $165,000 Active Under Contract 56 DOM
3. 2026-05-31
   days on market $165,000 Active Under Contract 55 DOM
4. 2026-05-31
   days on market $165,000 Active Under Contract 54 DOM
5. 2026-05-15
   historical Active Under Contract 410-char remark

   Show marketing remark (410 chars)

   Ready for in-town living, check out this cozy cottage in Toccoa. Enjoy the spacious, remodeled kitchen with a pantry and laundry closet adjacent to the dining room. Lovely hardwood floors and new energy-efficient windows embrace this 2-bedroom/1-bathroom home. Located on an over 1/2-acre full-corner lot, this yard is ready for a makeover. A cozy patio just off the kitchen is ready for outdoor entertaining.

6. 2026-05-15
   historical Active Under Contract 410-char remark

   Show marketing remark (410 chars)

   Ready for in-town living, check out this cozy cottage in Toccoa. Enjoy the spacious, remodeled kitchen with a pantry and laundry closet adjacent to the dining room. Lovely hardwood floors and new energy-efficient windows embrace this 2-bedroom/1-bathroom home. Located on an over 1/2-acre full-corner lot, this yard is ready for a makeover. A cozy patio just off the kitchen is ready for outdoor entertaining.

7. 2026-03-23
   listed $165,000 Active 410-char remark

   Show marketing remark (410 chars)

   Ready for in-town living, check out this cozy cottage in Toccoa. Enjoy the spacious, remodeled kitchen with a pantry and laundry closet adjacent to the dining room. Lovely hardwood floors and new energy-efficient windows embrace this 2-bedroom/1-bathroom home. Located on an over 1/2-acre full-corner lot, this yard is ready for a makeover. A cozy patio just off the kitchen is ready for outdoor entertaining.

8. 2026-03-21
   listed $165,000 New 410-char remark

   Show marketing remark (410 chars)

   Ready for in-town living, check out this cozy cottage in Toccoa. Enjoy the spacious, remodeled kitchen with a pantry and laundry closet adjacent to the dining room. Lovely hardwood floors and new energy-efficient windows embrace this 2-bedroom/1-bathroom home. Located on an over 1/2-acre full-corner lot, this yard is ready for a makeover. A cozy patio just off the kitchen is ready for outdoor entertaining.

9. 2022-10-28
   soldstatus $110,000 Sold
10. 2022-10-28
    soldstatus $110,000
11. 2022-10-18
    status Under Contract
12. 2022-10-11
    price $119,900
13. 2022-10-02
    price $129,900
14. 2022-09-27
    listed $139,900 New

ⓘ 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: $1,396 · $116/mo
• Projected year-2 tax: $1,518 · $126/mo
• Expected delta: +$122/yr (+$10/mo · 8.7%)

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,158
• − Mortgage interest: −$9,243
• − Property taxes: −$1,396
• − Insurance: −$825
• − Repairs & maintenance: −$1,053
• − Management: −$1,053
• − Depreciation: −$4,800
• Taxable loss: −$5,211
• Est. tax savings @ 24.0%: +$1,251
• After-tax cash flow: $-959/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: Stephens County
• NCES district ID: 1304560
• Math proficiency: 34% ▼ -6.00%
• Reading proficiency: 34% ▼ -4.00%
• Median HH income: $38,416
• Composite: 28.42/100
• National rank: #6759
• State rank: #74 of 174 in GA

Livability — Toccoa

• Score: 68/100
• State rank: #131
• US rank: #9152

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Toccoa, GA
• County: Stephens County · 22,964 people
• City population: 22,964
• Metro: Toccoa, GA
• Population (ZIP): 22,964
• Household income: $53,818
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 594.0

Population outlook (Stephens County) Hauer SSP2

• Today (2025): 23,797 people
• By 2030: 22,785 · -4.3%
• By 2040: 20,653 · -13.2%
• By 2050: 18,745 · -21.2%
• By 2075: 14,780 · -37.9%
• By 2100: 11,079 · -53.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 12% Hispanic / Latino 4% Two or more races 4% Asian 1%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Stephens

• 2024 margin: Solid R (+62.8) · D 18.4% · R 81.2%
• 2008→2024 swing: -15.4pp toward R · 2008: -47.4pp · 2024: -62.8pp
• All cycles: 2024: R+62.8 2020: R+58.7 2016: R+59.9 2012: R+53.7 2008: R+47.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.25%
• Current HPI: 320.5275
• Rent YoY: —
• Metro: Toccoa, 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

+17.9% since first listed

10 events — show timeline

• 2026-05-15 Contingent — FMLS
• 2026-05-15 Contingent — GAMLS
• 2026-03-23 Listed $165,000 FMLS
• 2026-03-21 Listed $165,000 GAMLS
• 2022-10-28 Sold (Public Records) $110,000 Public Records
• 2022-10-28 Sold (MLS) $110,000 GAMLS
• 2022-10-18 Pending — GAMLS
• 2022-10-11 Price Changed $119,900 GAMLS
• 2022-10-02 Price Changed $129,900 GAMLS
• 2022-09-27 Listed $139,900 GAMLS

Property tax history

+10.8%/yr

Latest (2025): $1,396 · +38.9% YoY. Source: county tax records.