156 Shirley Rd · Royston, GA 30662

$250,000

2 bd · 1.5 ba · 1,568 sqft · SingleFamily public records · 23 Days on market

Built 1998 0.87 ac lot Est $260k · at est.

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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
• ARV discount +9.3/15.0
• Cash flow +7.9/30.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.4/10.0

Listing remarks

4 Bedroom Home for LESS! This is a great value home featuring 4 bedrooms, 2 bathrooms, an above-ground pool, and a workshop. Conveniently located close to town and Emmanuel University. Enjoy the charm of small-town living with plenty of space inside and out!

Key facts

• Close to town
• Workshop
• Above-ground pool

Tags

• ABOVE-GROUND POOL
• WORKSHOP
• CLOSE TO TOWN

Property features AI

Finance

• Other: Listing offered As Is; Accepts Cash, Conventional, FHA, USDA and VA financing
• HOA & community: No HOA

Exterior

• Parking: Off-street parking
• Utilities: Public water; Septic tank; Electricity available; High-speed internet available
• Home design: Single-family house; Built in 1998
• Construction: Vinyl siding; Composition roof; Block foundation
• Exterior features: Level lot; Above-ground pool; Workshop

Interior

• Kitchen: Dishwasher; Solid surface counters
• Bedrooms: 4 bedrooms on the main level
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One-level layout; Family room; Solid surface kitchen counters; Crawl space basement; Resale condition
• Laundry & utility: Laundry area (other)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-269 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (19.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (35.8% below list).
• Recommended offer: $160k (35.8% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 4.0% in Royston — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 58/100 on livability (#421 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A, crime B+; Watch: amenities F, commute F, employment F.
• Franklin County (rural): math 38% / reading 35% proficiency, ranked #61 of 174 in GA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Royston Elementary School (math 54% / reading 38%, grade D-, #316 of 1,228 statewide, top 26%, 493 students, 73% FRL); Franklin County Middle School (math 32% / reading 35%, grade F, #206 of 470 statewide, top 45%, 826 students, 60% FRL).
• Market conditions: 95 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 163 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,475 (35.8% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.64% ✗
• Cap rate: 5.00%
• Cash-on-cash: -4.62%
• DSCR: 0.79
• GRM: 13.0

CMA / ARV

• ARV (on-the-fly): $260,288
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
292 Dovetown Rd	0.43mi	3/1.5 (+1)	1,450 (-8%)	9mo	$224,500	$155	55
141 Trinity Ct	0.44mi	3/2.0 (+1)	1,352 (-14%)	2mo	$225,000	$166	48
120 Peach Ln	0.75mi	3/2.0 (+1)	1,649 (+5%)	10mo	$299,000	$181	41

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 2.70×
• Total profit: $118,903
• Equity at exit: $225,220

10-year hold

• IRR: 19.0%
• Equity multiple: 6.19×
• Total profit: $363,461
• Equity at exit: $485,695

Cash invested: $70,000 (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 30662

• Home prices YoY: 17.9%
• Active inventory: 95
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $1,605 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$122 /mo · $1,464/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $-269

Break-even live

Break-even rent $1,946

Max offer price $202,403

Occupancy floor —

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Freedom Point Rd Royston, GA	3.0	2.0	1800	$1,500	$0.83	13d	1	0.73mi
20 Breanna Way Royston, GA	3.0	2.5	1380	$2,500	$1.81	13d	1	1.18mi

Listing history 17 events

1. 2026-06-19
   days on market $250,000 Active 23 DOM
2. 2026-06-18
   days on market $250,000 Active 22 DOM
3. 2026-06-17
   days on market $250,000 Active 21 DOM
4. 2026-06-16
   days on market $250,000 Active 20 DOM
5. 2026-06-15
   days on market $250,000 Active 19 DOM
6. 2026-06-14
   days on market $250,000 Active 17 DOM
7. 2026-06-12
   statusdays on market $250,000 Active 16 DOM
8. 2026-06-09
   days on market $250,000 New 13 DOM
9. 2026-06-08
   days on market $250,000 New 12 DOM
10. 2026-06-07
    days on market $250,000 New 11 DOM
11. 2026-06-07
    days on market $250,000 New 10 DOM
12. 2026-06-03
    days on market $250,000 New 7 DOM
13. 2026-06-02
    days on market $250,000 New 6 DOM
14. 2026-06-01
    days on market $250,000 New 5 DOM
15. 2026-05-31
    days on market $250,000 New 4 DOM
16. 2026-05-31
    days on market $250,000 New 3 DOM
17. 2026-05-27
    listed $250,000 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: $1,464 · $122/mo
• Projected year-2 tax: $2,300 · $192/mo
• Expected delta: +$836/yr (+$70/mo · 57.1%)

ⓘ 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 ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,257
• − Mortgage interest: −$14,004
• − Property taxes: −$1,464
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$7,273
• Taxable loss: −$7,815
• Est. tax savings @ 24.0%: +$1,876
• After-tax cash flow: $-1,358/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: Franklin County
• NCES district ID: 1302250
• Math proficiency: 38% ▼ -1.00%
• Reading proficiency: 35% ▼ -3.00%
• Median HH income: $35,985
• Composite: 30.28/100
• National rank: #6281
• State rank: #61 of 174 in GA

Livability — Royston

• Score: 58/100
• State rank: #421
• US rank: #20753

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Franklin County · 7,950 people
• City population: 7,950
• Metro: Athens-Clarke County, GA
• Population (ZIP): 7,950
• Household income: $53,487
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 72.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 22,625 people
• By 2030: 22,725 · +0.4%
• By 2040: 22,806 · +0.8%
• By 2050: 22,713 · +0.4%
• By 2075: 22,514 · -0.5%
• By 2100: 20,768 · -8.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 11% Two or more races 5% Hispanic / Latino 4% Asian 4%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 6% · Vietnam, Canada
• Languages at home: 91% English-only · Vietnamese 4% Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+72.6) · D 13.6% · R 86.2%
• 2008→2024 swing: -21.1pp toward R · 2008: -51.5pp · 2024: -72.6pp
• All cycles: 2024: R+72.6 2020: R+69.5 2016: R+68.6 2012: R+59.5 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 62.43%
• Current HPI: 410.693
• 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

1 event — show timeline

• 2026-05-27 Listed $250,000 GAMLS

Property tax history

+5.1%/yr

Latest (2025): $1,464 · +63.4% YoY. Source: county tax records.