236 Greenway St · Thomson, GA 30824

$149,900

1 bd · 2.0 ba · 1,476 sqft · MultiFamily public records · 40 Days on market

Built 1950 0.36 ac lot ↓ 28% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This property has 2 duplex units and a vacant lot which is . 17 acre lot. Each unit is duplex which each side has 1 bedroom, 1 bath, living room and kitchen. Each side has approximately 738 heated square feet.

Key facts

• 0.36 acre lot
• Built 1950
• Listed 40 days

Property features AI

Finance

• Financial info: Multiple 1-bedroom rental units with listed actual rents (examples include $500, $425)

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; Single-story
• Construction: Asbestos construction material; Shingle roof; Built on crawl space foundation
• Exterior features: Front porch; Has a view

Interior

• Bedrooms: Multiple 1-bedroom units (each unit listed as 1 bedroom)
• Heating & cooling: Natural gas heating; Additional other heating; Ceiling fan cooling
• Interior features: Ceiling fans throughout; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $596 ($7k/yr) — positive. Per door: $298/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.8% in Thomson — 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 (#357 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Mcduffie County (rural): math 12% / reading 19% proficiency, ranked #156 of 174 in GA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Thomson-Mcduffie Middle School (math 9% / reading 20%, grade F, #403 of 470 statewide, top 86%, 782 students, 89% FRL); Thomson High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 986 students, 89% FRL) — zoned schools average 89% FRL vs 65% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 193 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 64 units permitted in McDuffie 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 $4k of value loss. Plan a longer hold.
• McDuffie 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 $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $59k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 61% 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 $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.40% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.03%
• DSCR: 1.76
• GRM: 5.9

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: 8.3%
• Equity multiple: 1.33×
• Total profit: $13,696
• Equity at exit: $22,351

10-year hold

• IRR: 17.6%
• Equity multiple: 2.45×
• Total profit: $60,981
• Equity at exit: $12,961

Cash invested: $41,972 (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 30824

• Home prices YoY: -7.3%
• Active inventory: 193
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,105 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$219 /mo · $2,625/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $596

Break-even live

Break-even rent $1,351

Max offer price $149,900

Occupancy floor 67%

Sensitivity live

Price	-10% $680	-5% $638	+0% $596	+5% $553	+10% $511
Rent	-10% $429	-5% $512	+0% $596	+5% $679	+10% $762
Rate	-1.0pp $671	-0.5pp $634	base $596	+0.5pp $557	+1.0pp $517

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,104
Total (2 units)			$2,105

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 Watson St Unit 11 Thomson, GA	2.0	1.5	881	$975	$1.11	44d	1	0.53mi
642 Forrest Clary Dr Ext Thomson, GA	2.0–3.0	1.0–1.5	1075	$903	$0.84	24d	1	1.06mi

Listing history 22 events

1. 2026-06-21
   days on market $149,900 Active 40 DOM
2. 2026-06-18
   days on market $149,900 Active 38 DOM
3. 2026-06-17
   days on market $149,900 Active 37 DOM
4. 2026-06-16
   days on market $149,900 Active 36 DOM
5. 2026-06-16
   price $149,900 Active 35 DOM
6. 2026-06-15
   days on market $209,000 Active 35 DOM
7. 2026-06-13
   days on market $209,000 Active 33 DOM
8. 2026-06-12
   days on market $209,000 Active 32 DOM
9. 2026-06-09
   days on market $209,000 Active 29 DOM
10. 2026-06-08
    days on market $209,000 Active 28 DOM
11. 2026-06-07
    days on market $209,000 Active 27 DOM
12. 2026-06-07
    days on market $209,000 Active 26 DOM
13. 2026-06-04
    days on market $209,000 Active 23 DOM
14. 2026-06-02
    days on market $209,000 Active 22 DOM
15. 2026-06-01
    days on market $209,000 Active 21 DOM
16. 2026-05-31
    days on market $209,000 Active 20 DOM
17. 2026-05-31
    days on market $209,000 Active 19 DOM
18. 2026-03-30
    status Active
19. 2026-01-17
    status Pending
20. 2026-01-17
    historical
21. 2025-12-29
    listed $209,000 Active
22. 2025-12-29
    listed $209,000 Active 209-char remark

ⓘ 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: $2,625 · $219/mo
• Projected year-2 tax: $2,625 · $219/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,260
• − Mortgage interest: −$8,397
• − Property taxes: −$2,625
• − Insurance: −$750
• − Repairs & maintenance: −$2,021
• − Management: −$2,021
• − Depreciation: −$4,361
• Taxable income: $5,086
• Est. tax owed @ 24.0%: −$1,221
• After-tax cash flow: $5,927/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: Mcduffie County
• NCES district ID: 1303570
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 19% ▼ -8.00%
• Median HH income: $37,658
• Composite: 12.98/100
• National rank: #9570
• State rank: #156 of 174 in GA

Livability — Thomson

• Score: 61/100
• State rank: #357
• US rank: #18372

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomson, GA
• Population (ZIP): 17,181

Population outlook (McDuffie County) Hauer SSP2

• Today (2025): 20,590 people
• By 2030: 19,922 · -3.2%
• By 2040: 18,451 · -10.4%
• By 2050: 16,898 · -17.9%
• By 2075: 13,647 · -33.7%
• By 2100: 10,421 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 49% Black 46% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · McDuffie

• 2024 margin: Strong R (+24.9) · D 37.4% · R 62.3%
• 2008→2024 swing: -10.0pp toward R · 2008: -14.9pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+19.1 2016: R+18.7 2012: R+15.0 2008: R+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.21%
• Current HPI: 243.7734
• 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

-28.3% since first listed

6 events — show timeline

• 2026-06-15 Price Changed $149,900 Hive MLS
• 2026-03-30 Relisted — Hive MLS
• 2026-01-17 Pending — Hive MLS
• 2026-01-17 Listing Removed — Hive MLS
• 2025-12-29 Listed $209,000 Hive MLS
• 2025-12-29 Listed $209,000 Hive MLS

Property tax history

+12.5%/yr

Latest (2025): $2,625 · +3.9% YoY. Source: county tax records.