878 Hospital Rd · Commerce, GA 30529

$2,050,000

None bd · 4.0 ba · 3,121 sqft · MultiFamily public records · 61 Days on market

Built 2002 2.00 ac lot

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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).

• Appreciation +10.0/10.0
• Cash flow +7.6/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.4/10.0
• Rent growth +1.4/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Preston Court is a 10-unit townhome community built in 2002, featuring spacious 3-bedroom, 2-bath units within a gated setting. This is a rare opportunity to acquire a well-maintained, highly desirable asset with strong fundamentals and long-term durability. Preston Court represents a legacy-type asset with a strong combination of location, product type, and performance-ideal for investors seeking stable cash flow with future upside in a high-growth corridor. The property is currently 100% occupied with average rents of approximately $1,595, offering immediate in-place cash flow and operational stability. The townhome-style layout and unit mix continue to perform well with residents, supporting consistent demand and retention. Located in Jackson County, one of the fastest-growing areas in Georgia, the submarket has experienced approximately 35% population growth since 2020-ranking as the second fastest-growing county out of 159 statewide. This growth continues to drive housing demand and supports long-term rent growth potential. Buyers should be prepared to submit a Letter of Intent (LOI) prior to execution of a Purchase and Sale Agreement. LOI should outline key terms including purchase price, earnest money, due diligence period, closing timeline, and any requested closing cost allocations. Offering Memorandum, rent roll, T12, and additional due diligence materials are available upon request. Out of respect for tenant privacy, please do not disturb tenants.

Key facts

• Gated setting
• 2 acre lot
• 2 parking spots

Tags

• 10 UNIT TOWNHOME COMMUNITY
• GATED SETTING
• WELL MAINTAINED ASSET
• CURRENTLY 100 PERCENT OCCUPIED
• IMMEDIATE IN PLACE CASH FLOW
• OPERATIONAL STABILITY

Property features AI

Finance

• Financial info: 10 total units (multifamily)
• HOA & community: Gated community

Exterior

• Parking: Parking lot with 2 parking spaces
• Security: Gated
• Utilities: Public water; Public sewer; Electricity available; Natural gas available
• Home design: Two-story property
• Construction: HardiPlank-type siding; Shingle roof; Resale property
• Exterior features: Fenced yard with wood fencing; Gated community

Interior

• Flooring: Carpet; Vinyl
• Heating & cooling: Central heating; Central air
• Interior features: Unfurnished; Ceiling fans

What this means for you Summary

Snapshot

• This is a 10 × 3-bed/2-bath units multifamily listed at $2.05M.

Deal economics

• At list price, monthly cash flow is $-2k ($-29k/yr) — negative. Per door: $-242/mo.
• To cash-flow at today's rent, offer at most $1.62M (20.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.32M (35.6% below list).
• Recommended offer: $1.32M (35.6% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 3.3% in Commerce — 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 64/100 on livability (#271 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Commerce City (town): math 49% / reading 49% proficiency, ranked #19 of 174 in GA (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Commerce Primary (486 students, 52% FRL); Commerce Middle School (math 44% / reading 51%, grade C-, #84 of 470 statewide, top 19%, 530 students, 56% FRL); Commerce High School (math 47% / reading 47%, grade D-, #37 of 424 statewide, top 9%, 493 students, 45% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: Rents falling (-4.2%/yr); 156 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,167 units permitted in Jackson County in 2024 (59 in 5+ unit buildings).
• At $13,195/mo this rent would consume 255% of the median local household income ($62k/yr) (locally 297% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $219k of equity ($14k loan paydown + $205k appreciation (10.0% local appreciation)).
• Jackson County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$352k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($1.93M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $150k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.62M; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $1,319,500 (35.6% 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 61 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.64% ✗
• Cap rate: 4.88%
• Cash-on-cash: -5.06%
• DSCR: 0.77
• GRM: 12.9

CMA / ARV

• ARV (median comp): $223,110
• List price: $2,050,000
• Delta: 818.83%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.9%
• Equity multiple: 2.61×
• Total profit: $923,033
• Equity at exit: $1,846,802

10-year hold

• IRR: 17.7%
• Equity multiple: 5.82×
• Total profit: $2,768,956
• Equity at exit: $3,982,699

Cash invested: $574,000 (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 30529

• Home prices YoY: 6.6%
• Rents YoY: -4.2%
• Active inventory: 156
• Price-to-rent: 129.5×

Monthly cashflow live

• Estimated rent: $13,195 medium
• Mortgage (P&I): −$10,750
• Tax from tax record: −$1,240 /mo · $14,881/yr
• Insurance: −$854
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,771
• Net cashflow: $-2,421

Break-even live

Break-even rent $16,259

Max offer price $1,622,393

Occupancy floor —

Sensitivity live

Price	-10% $-1,260	-5% $-1,840	+0% $-2,421	+5% $-3,001	+10% $-3,581
Rent	-10% $-3,463	-5% $-2,942	+0% $-2,421	+5% $-1,899	+10% $-1,378
Rate	-1.0pp $-1,388	-0.5pp $-1,899	base $-2,421	+0.5pp $-2,952	+1.0pp $-3,492

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

Units	Beds	Baths	Est. rent
▸ 10× units	3	2	$13,200
Total (10 units)			$13,195

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: $512,500
• Closing costs: $61,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Nolana Dr Commerce, GA	3.0–4.0	2.5–3.0	2254	$1,650	$0.73	15d	1	0.56mi

Listing history 31 events

1. 2026-06-21
   days on market $2,050,000 Active 61 DOM
2. 2026-06-19
   days on market $2,050,000 Active 59 DOM
3. 2026-06-18
   days on market $2,050,000 Active 58 DOM
4. 2026-06-17
   days on market $2,050,000 Active 57 DOM
5. 2026-06-16
   days on market $2,050,000 Active 56 DOM
6. 2026-06-15
   days on market $2,050,000 Active 55 DOM
7. 2026-06-14
   days on market $2,050,000 Active 53 DOM
8. 2026-06-12
   days on market $2,050,000 Active 52 DOM
9. 2026-06-09
   days on market $2,050,000 Active 49 DOM
10. 2026-06-08
    days on market $2,050,000 Active 48 DOM
11. 2026-06-07
    days on market $2,050,000 Active 47 DOM
12. 2026-06-05
    days on market $2,050,000 Active 44 DOM
13. 2026-06-03
    days on market $2,050,000 Active 43 DOM
14. 2026-06-02
    days on market $2,050,000 Active 42 DOM
15. 2026-06-01
    days on market $2,050,000 Active 41 DOM
16. 2026-05-31
    days on market $2,050,000 Active 40 DOM
17. 2026-05-30
    days on market $2,050,000 Active 39 DOM
18. 2026-05-12
    price $2,050,000 1495-char remark

    Show marketing remark (1495 chars)

    Preston Court is a 10-unit townhome community built in 2002, featuring spacious 3-bedroom, 2-bath units within a gated setting. This is a rare opportunity to acquire a well-maintained, highly desirable asset with strong fundamentals and long-term durability. Preston Court represents a legacy-type asset with a strong combination of location, product type, and performance-ideal for investors seeking stable cash flow with future upside in a high-growth corridor. The property is currently 100% occupied with average rents of approximately $1,595, offering immediate in-place cash flow and operational stability. The townhome-style layout and unit mix continue to perform well with residents, supporting consistent demand and retention. Located in Jackson County, one of the fastest-growing areas in Georgia, the submarket has experienced approximately 35% population growth since 2020-ranking as the second fastest-growing county out of 159 statewide. This growth continues to drive housing demand and supports long-term rent growth potential. Buyers should be prepared to submit a Letter of Intent (LOI) prior to execution of a Purchase and Sale Agreement. LOI should outline key terms including purchase price, earnest money, due diligence period, closing timeline, and any requested closing cost allocations. Offering Memorandum, rent roll, T12, and additional due diligence materials are available upon request. Out of respect for tenant privacy, please do not disturb tenants.

19. 2026-05-12
    price $2,050,000 1507-char remark

    Show marketing remark (1495 chars)

    Preston Court is a 10-unit townhome community built in 2002, featuring spacious 3-bedroom, 2-bath units within a gated setting. This is a rare opportunity to acquire a well-maintained, highly desirable asset with strong fundamentals and long-term durability. Preston Court represents a legacy-type asset with a strong combination of location, product type, and performance-ideal for investors seeking stable cash flow with future upside in a high-growth corridor. The property is currently 100% occupied with average rents of approximately $1,595, offering immediate in-place cash flow and operational stability. The townhome-style layout and unit mix continue to perform well with residents, supporting consistent demand and retention. Located in Jackson County, one of the fastest-growing areas in Georgia, the submarket has experienced approximately 35% population growth since 2020-ranking as the second fastest-growing county out of 159 statewide. This growth continues to drive housing demand and supports long-term rent growth potential. Buyers should be prepared to submit a Letter of Intent (LOI) prior to execution of a Purchase and Sale Agreement. LOI should outline key terms including purchase price, earnest money, due diligence period, closing timeline, and any requested closing cost allocations. Offering Memorandum, rent roll, T12, and additional due diligence materials are available upon request. Out of respect for tenant privacy, please do not disturb tenants.

20. 2026-04-21
    listed $2,200,000 New 1495-char remark

    Show marketing remark (1495 chars)

    Preston Court is a 10-unit townhome community built in 2002, featuring spacious 3-bedroom, 2-bath units within a gated setting. This is a rare opportunity to acquire a well-maintained, highly desirable asset with strong fundamentals and long-term durability. Preston Court represents a legacy-type asset with a strong combination of location, product type, and performance-ideal for investors seeking stable cash flow with future upside in a high-growth corridor. The property is currently 100% occupied with average rents of approximately $1,595, offering immediate in-place cash flow and operational stability. The townhome-style layout and unit mix continue to perform well with residents, supporting consistent demand and retention. Located in Jackson County, one of the fastest-growing areas in Georgia, the submarket has experienced approximately 35% population growth since 2020-ranking as the second fastest-growing county out of 159 statewide. This growth continues to drive housing demand and supports long-term rent growth potential. Buyers should be prepared to submit a Letter of Intent (LOI) prior to execution of a Purchase and Sale Agreement. LOI should outline key terms including purchase price, earnest money, due diligence period, closing timeline, and any requested closing cost allocations. Offering Memorandum, rent roll, T12, and additional due diligence materials are available upon request. Out of respect for tenant privacy, please do not disturb tenants.

21. 2026-04-21
    listed $2,200,000 Active 1507-char remark

    Show marketing remark (1495 chars)

    Preston Court is a 10-unit townhome community built in 2002, featuring spacious 3-bedroom, 2-bath units within a gated setting. This is a rare opportunity to acquire a well-maintained, highly desirable asset with strong fundamentals and long-term durability. Preston Court represents a legacy-type asset with a strong combination of location, product type, and performance-ideal for investors seeking stable cash flow with future upside in a high-growth corridor. The property is currently 100% occupied with average rents of approximately $1,595, offering immediate in-place cash flow and operational stability. The townhome-style layout and unit mix continue to perform well with residents, supporting consistent demand and retention. Located in Jackson County, one of the fastest-growing areas in Georgia, the submarket has experienced approximately 35% population growth since 2020-ranking as the second fastest-growing county out of 159 statewide. This growth continues to drive housing demand and supports long-term rent growth potential. Buyers should be prepared to submit a Letter of Intent (LOI) prior to execution of a Purchase and Sale Agreement. LOI should outline key terms including purchase price, earnest money, due diligence period, closing timeline, and any requested closing cost allocations. Offering Memorandum, rent roll, T12, and additional due diligence materials are available upon request. Out of respect for tenant privacy, please do not disturb tenants.

22. 2021-12-22
    soldstatus $1,625,000
23. 2014-11-02
    historical
24. 2014-10-15
    status Back On Market
25. 2014-09-21
    status Under Contract
26. 2014-08-25
    listed $79,500 New
27. 2014-05-31
    historical
28. 2014-03-10
    listed $99,000
29. 2004-12-17
    soldstatus $940,000
30. 2002-08-20
    soldstatus $800,000
31. 2000-10-16
    soldstatus $38,000

ⓘ 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: $14,881 · $1,240/mo
• Projected year-2 tax: $18,860 · $1,572/mo
• Expected delta: +$3,979/yr (+$332/mo · 26.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $158,340
• − Mortgage interest: −$114,832
• − Property taxes: −$14,881
• − Insurance: −$10,250
• − Repairs & maintenance: −$12,667
• − Management: −$12,667
• − Depreciation: −$59,636
• Taxable loss: −$66,593
• Est. tax savings @ 24.0%: +$15,982
• After-tax cash flow: $-13,065/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: Commerce City
• NCES district ID: 1301440
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $40,945
• Composite: 41.1/100
• National rank: #3567
• State rank: #19 of 174 in GA

Livability — Commerce

• Score: 64/100
• State rank: #271
• US rank: #14693

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Commerce, GA
• County: Jackson County · 50,436 people
• City population: 12,874
• Metro: Jefferson, GA
• Population (ZIP): 12,874
• Household income: $62,168
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 297.0

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 68,403 people
• By 2030: 70,771 · +3.5%
• By 2040: 75,050 · +9.7%
• By 2050: 78,022 · +14.1%
• By 2075: 82,646 · +20.8%
• By 2100: 80,701 · +18.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Black 11% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 10% Other Indo-European 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+55.1) · D 22.2% · R 77.2%
• 2008→2024 swing: +0.8pp no change · 2008: -55.9pp · 2024: -55.1pp
• All cycles: 2024: R+55.1 2020: R+58.0 2016: R+63.9 2012: R+62.9 2008: R+55.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 28.53%
• Current HPI: 458.5304
• Rent YoY: ▼ -4.25%
• Metro: Jefferson, 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

+5294.7% since first listed

14 events — show timeline

• 2026-05-12 Price Changed $2,050,000 GAMLS
• 2026-05-12 Price Changed $2,050,000 FMLS
• 2026-04-21 Listed $2,200,000 FMLS
• 2026-04-21 Listed $2,200,000 GAMLS
• 2021-12-22 Sold (Public Records) $1,625,000 Public Records
• 2014-11-02 Listing Removed — GAMLS
• 2014-10-15 Relisted — GAMLS
• 2014-09-21 Pending — GAMLS
• 2014-08-25 Listed $79,500 GAMLS
• 2014-05-31 Listing Removed — Hive MLS
• 2014-03-10 Listed $99,000 Hive MLS
• 2004-12-17 Sold (Public Records) $940,000 Public Records
• 2002-08-20 Sold (Public Records) $800,000 Public Records
• 2000-10-16 Sold (Public Records) $38,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $14,881 · -3.3% YoY. Source: county tax records.