5545 Bacon Ave · Eastman, GA 31023

$148,000

3 bd · 2.0 ba · 810 sqft · SingleFamily public records · 40 Days on market

Built 1960 0.46 ac lot $183/sqft · 121% above area Est $115k · 29% over

---

Why this score? — see what drove the C- 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 +23.0/30.0
• Appreciation +9.4/10.0
• DSCR +7.4/10.0
• 1% rule +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +0.0/15.0

Listing remarks

Completely remodeled 3 bedroom, 2 bathroom home offering approximately 1,390 square feet of comfortable living space and modern updates throughout. This move-in ready property features excellent curb appeal with fresh landscaping and a welcoming covered front porch. Inside, you'll find a bright and functional floor plan with updated finishes designed for comfortable everyday living and entertaining. Spacious bedrooms and renovated bathrooms provide both style and convenience. Conveniently located and thoughtfully updated, this home is ideal for first-time homebuyers, downsizers, or investors. Don't miss this opportunity-schedule your showing today!

Key facts

• 0.46 acre lot
• Built 1960
• Listed 39 days

Property features AI

Finance

• Other: Lot approximately 0.46 acre
• HOA & community: No HOA

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer; Electricity available; Cable available; High-speed internet available
• Home design: Single family residence; House; One level
• Construction: Built in 1960; Vinyl siding; Metal roof; Crawl space foundation
• Exterior features: Level lot; Street lights in the community

Interior

• Kitchen: Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Updated/remodeled
• Laundry & utility: Mud room; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (2.5% below list).
• Recommended offer: $144k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 6.0% in Eastman — 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 (#333 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Dodge County (rural): math 18% / reading 26% proficiency, ranked #139 of 174 in GA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 73 active listings in the ZIP; 13 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (8.8% local appreciation)).
• Dodge County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.8% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $124k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,560 (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. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 8.42%
• Cash-on-cash: 7.59%
• DSCR: 1.34
• GRM: 8.5

CMA / ARV

• ARV (median comp): $114,850
• List price: $148,000
• Delta: 28.86%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 Page St	0.23mi	2/1.0 (-1)	896 (+11%)	12mo	$89,900	$100	53

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

Projected returns pro-forma

8.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.4%
• Equity multiple: 3.06×
• Total profit: $85,194
• Equity at exit: $120,527

10-year hold

• IRR: 24.3%
• Equity multiple: 6.68×
• Total profit: $235,341
• Equity at exit: $247,399

Cash invested: $41,440 (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 31023

• Home prices YoY: 4.2%
• Active inventory: 73
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,444 medium
• Mortgage (P&I): −$776
• Tax from tax record: −$41 /mo · $488/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $262

Break-even live

Break-even rent $1,112

Max offer price $148,000

Occupancy floor 77%

Sensitivity live

Price	-10% $346	-5% $304	+0% $262	+5% $220	+10% $178
Rent	-10% $148	-5% $205	+0% $262	+5% $319	+10% $376
Rate	-1.0pp $337	-0.5pp $300	base $262	+0.5pp $224	+1.0pp $185

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $148,000 Active 40 DOM
2. 2026-06-21
   days on market $148,000 Active 39 DOM
3. 2026-06-18
   days on market $148,000 Active 37 DOM
4. 2026-06-17
   days on market $148,000 Active 36 DOM
5. 2026-06-16
   days on market $148,000 Active 35 DOM
6. 2026-06-15
   days on market $148,000 Active 34 DOM
7. 2026-06-13
   days on market $148,000 Active 32 DOM
8. 2026-06-12
   days on market $148,000 Active 31 DOM
9. 2026-06-09
   days on market $148,000 Active 28 DOM
10. 2026-06-08
    days on market $148,000 Active 27 DOM
11. 2026-06-07
    days on market $148,000 Active 26 DOM
12. 2026-06-07
    days on market $148,000 Active 25 DOM
13. 2026-06-04
    days on market $148,000 Active 22 DOM
14. 2026-06-02
    days on market $148,000 Active 21 DOM
15. 2026-06-01
    days on market $148,000 Active 20 DOM
16. 2026-05-31
    days on market $148,000 Active 19 DOM
17. 2026-05-31
    days on market $148,000 Active 18 DOM
18. 2026-05-12
    listed $148,000 New 658-char remark
19. 2019-12-12
    soldstatus $124,200
20. 2009-10-01
    soldstatus $32,000

ⓘ 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: $488 · $41/mo
• Projected year-2 tax: $1,362 · $113/mo
• Expected delta: +$874/yr (+$73/mo · 179.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,325
• − Mortgage interest: −$8,290
• − Property taxes: −$488
• − Insurance: −$740
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$4,305
• Taxable income: $729
• Est. tax owed @ 24.0%: −$175
• After-tax cash flow: $2,970/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: Dodge County
• NCES district ID: 1301770
• Math proficiency: 18% ▼ -21.00%
• Reading proficiency: 26% ▼ -7.00%
• Median HH income: $34,856
• Composite: 18.1/100
• National rank: #8971
• State rank: #139 of 174 in GA

Livability — Eastman

• Score: 61/100
• State rank: #333
• US rank: #17509

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eastman, GA
• Population (ZIP): 14,257

Population outlook (Dodge County) Hauer SSP2

• Today (2025): 19,669 people
• By 2030: 18,784 · -4.5%
• By 2040: 16,878 · -14.2%
• By 2050: 14,837 · -24.6%
• By 2075: 9,804 · -50.2%
• By 2100: 5,885 · -70.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 25% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Dodge

• 2024 margin: Solid R (+49.9) · D 24.9% · R 74.8%
• 2008→2024 swing: -14.0pp toward R · 2008: -35.9pp · 2024: -49.9pp
• All cycles: 2024: R+49.9 2020: R+45.5 2016: R+45.5 2012: R+35.9 2008: R+35.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.79%
• Current HPI: 216.6501
• 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

+362.5% since first listed

3 events — show timeline

• 2026-05-12 Listed $148,000 GAMLS
• 2019-12-12 Sold (Public Records) $124,200 Public Records
• 2009-10-01 Sold (Public Records) $32,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $488 · -3.1% YoY. Source: county tax records.