109 Flatrock Ln · Crooked Creek, GA 31024

$189,900

3 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 20 Days on market

Built 2007 0.79 ac lot Est $292k · 35% 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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +6.8/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced to sell! This charming cottage-style home offers cozy living spaces with classic architectural details. The inviting layout creates a warm atmosphere perfect for comfortable everyday living. The heart of this home features a well-appointed kitchen with custom wood cabinetry that provides both functionality and timeless appeal. The thoughtfully crafted storage solutions create an inviting space for daily meal preparation and entertaining. Venture outside to discover the covered front porch, perfect for enjoying morning coffee or evening relaxation while taking in the surrounding views. This charming outdoor space extends your living area and provides a comfortable spot to unwind throughout the seasons. One of the most appealing aspects of this property is its proximity to Lake Sinclair access. The nearby lake offers endless opportunities for recreation, whether you enjoy fishing, boating, or simply spending time by the water. This convenient location allows you to embrace the peaceful lakeside lifestyle while maintaining easy access to all the comforts of home. Schedule your private showing today and discover the charm and comfort this delightful cottage has to offer for your family's next chapter. For more information, please use HUDHomeStore.com and search for case number 106-504027. This home is being sold as is.

Key facts

• Covered front porch
• Lake sinclair access
• 0.79 acre lot

Tags

• LAKE SINCLAIR ACCESS
• COVERED FRONT PORCH
• CUSTOM WOOD CABINETRY
• OCONEE NATIONAL FOREST

Property features AI

Finance

• Other: Listing accepts Cash, Conventional, USDA Loan, and VA Loan
• HOA & community: No HOA

Exterior

• Parking: No designated parking
• Utilities: Public water; Septic tank sewer; 220 volt electric; Cable, phone, and electricity available
• Home design: Single-family manufactured home; One story; Resale property; Manufactured house structure
• Construction: Built in 2007; Wood siding construction; Composition roof
• Exterior features: Private lot; Has a view; Double pane windows

Interior

• Kitchen: Refrigerator
• Bedrooms: Three bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Double vanity; Breakfast area
• Laundry & utility: Washer and dryer included; Laundry in hall with laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 1.6% in Crooked Creek — 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 39/100 on livability (#613 in GA) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Putnam County (rural): math 33% / reading 30% proficiency, ranked #86 of 174 in GA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Putnam County Middle School (math 31% / reading 33%, grade F, #229 of 470 statewide, top 49%, 681 students, 81% FRL).
• Market conditions: 522 active listings in the ZIP; 129 units permitted in Putnam County in 2024 (50 in 5+ unit buildings).
• This rent runs 41% of the median local income ($66k/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 $6k of value loss. Plan a longer hold.
• Putnam County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 3y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $134k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 52% 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 $187,051 (1.5% 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: 1.18% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.68%
• DSCR: 1.56
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $291,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 Flatrock Rd	0.48mi	3/2.0	1,200 (-7%)	24mo	$270,000	$225	45

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $4,986
• Equity at exit: $28,315

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $50,295
• Equity at exit: $16,419

Cash invested: $53,172 (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 31024

• Active inventory: 522
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,235 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$129 /mo · $1,549/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $562

Break-even live

Break-even rent $1,524

Max offer price $189,900

Occupancy floor 70%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $189,900 Active 20 DOM
2. 2026-06-18
   statusdays on market $189,900 Active 19 DOM
3. 2026-06-17
   days on market $189,900 Price Change 18 DOM
4. 2026-06-16
   days on market $189,900 Price Change 17 DOM
5. 2026-06-16
   pricestatus $189,900 Price Change 16 DOM
6. 2026-06-15
   days on market $200,000 Active 16 DOM
7. 2026-06-14
   statusdays on market $200,000 Active 14 DOM
8. 2026-06-12
   days on market $200,000 New 13 DOM
9. 2026-06-09
   days on market $200,000 New 10 DOM
10. 2026-06-08
    days on market $200,000 New 9 DOM
11. 2026-06-07
    days on market $200,000 New 8 DOM
12. 2026-06-05
    days on market $200,000 New 5 DOM
13. 2026-06-03
    days on market $200,000 New 4 DOM
14. 2026-06-02
    days on market $200,000 New 3 DOM
15. 2026-06-01
    days on market $200,000 New 2 DOM
16. 2026-05-31
    remarks 699-char remark
17. 2026-05-31
    listed $200,000 New 1 DOM

ⓘ 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: $1,549 · $129/mo
• Projected year-2 tax: $1,747 · $146/mo
• Expected delta: +$198/yr (+$17/mo · 12.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,825
• − Mortgage interest: −$10,637
• − Property taxes: −$1,549
• − Insurance: −$950
• − Repairs & maintenance: −$2,146
• − Management: −$2,146
• − Depreciation: −$5,524
• Taxable income: $3,873
• Est. tax owed @ 24.0%: −$930
• After-tax cash flow: $5,814/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: Putnam County
• NCES district ID: 1304260
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $44,038
• Composite: 26.9/100
• National rank: #7088
• State rank: #86 of 174 in GA

Livability — Crooked Creek

• Score: 39/100
• State rank: #613
• US rank: #27435

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Putnam County · 21,601 people
• Metro: nan
• Population (ZIP): 21,601
• Household income: $65,971
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 696.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 20,747 people
• By 2030: 20,163 · -2.8%
• By 2040: 18,680 · -10.0%
• By 2050: 17,117 · -17.5%
• By 2075: 13,269 · -36.0%
• By 2100: 9,234 · -55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+42.2) · D 28.7% · R 71.0%
• 2008→2024 swing: -10.9pp toward R · 2008: -31.4pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.9 2016: R+40.0 2012: R+35.8 2008: R+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.84%
• Current HPI: 269.8265
• Rent YoY: —
• Metro: nan
• 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

+534.9% since first listed

39 events — show timeline

• 2026-05-29 Listed $200,000 GAMLS
• 2026-05-13 Sold (Public Records) $133,857 Public Records
• 2026-05-13 Sold (MLS) $133,857 GAMLS
• 2026-03-20 Pending — GAMLS
• 2026-03-17 Price Changed $175,000 GAMLS
• 2025-08-16 Listing Removed — GAMLS
• 2025-07-17 Listed $215,000 GAMLS
• 2025-07-17 Listed $205,000 GAMLS
• 2025-07-11 Listing Removed — GAMLS
• 2025-06-02 Listed $215,000 GAMLS
• 2025-05-30 Listing Removed — GAMLS
• 2025-04-12 Listing Removed — GAMLS
• 2025-02-28 Listing Removed — GAMLS
• 2025-01-28 Listing Removed — GAMLS
• 2025-01-28 Listed $215,000 GAMLS
• 2025-01-28 Listed $215,000 GAMLS
• 2025-01-28 Listed $215,000 GAMLS
• 2024-09-30 Listed $239,000 GAMLS
• 2023-09-20 Pending — FMLS
• 2023-09-19 Contingent — FMLS
• 2023-09-09 Pending — FMLS
• 2023-09-08 Contingent — FMLS
• 2023-09-08 Sold (Public Records) $205,000 Public Records
• 2023-09-08 Sold (MLS) $205,000 GAMLS
• 2023-09-08 Sold (MLS) $205,000 FMLS
• 2023-08-15 Pending — FMLS
• 2023-08-10 Contingent — FMLS
• 2023-08-10 Pending — GAMLS
• 2023-05-19 Relisted — GAMLS
• 2023-05-19 Relisted — FMLS
• 2023-05-17 Contingent — FMLS
• 2023-05-16 Pending — GAMLS
• 2023-04-22 Price Changed $205,000 GAMLS
• 2023-04-22 Price Changed $205,000 FMLS
• 2023-02-15 Listed $225,000 GAMLS
• 2023-02-15 Listed $225,000 FMLS
• 2017-03-14 Sold (Public Records) $67,000 Public Records
• 2011-10-14 Sold (Public Records) $31,500 Public Records
• 2007-05-11 Sold (Public Records) $31,500 Public Records

Property tax history

+6.7%/yr

Latest (2025): $1,549 · +9.6% YoY. Source: county tax records.