222 E Elna St · Homerville, GA 31634

$119,900

3 bd · 3.5 ba · 2,270 sqft · SingleFamily public records · 248 Days on market

Built 1960 0.27 ac lot $53/sqft · 16% below area Est $138k · 13% under ↓ 14% 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 +24.2/30.0
• ARV discount +13.4/15.0
• DSCR +7.8/10.0
• Appreciation +7.4/10.0
• 1% rule +5.9/10.0
• Livability +3.1/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

You won't find another house this size for this price! This spacious ranch located in the heart of Homerville is a diamond waiting to shine again. Unique layout offering space to bring your creative ideas to life! Roof was recently replaced offering a piece of mind and comfort. Not only does this home have a two car garage, but there is an additional two car garage/workshop. Cash, Conventional, or 203K loans would work for this home. Call for your appointment today!

Key facts

• Unique layout
• Spacious ranch
• Two car garage

Tags

• SPACIOUS RANCH
• UNIQUE LAYOUT
• RECENTLY REPLACED ROOF
• TWO CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#303 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Clinch County (rural): math 34% / reading 30% proficiency, ranked #90 of 174 in GA (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 30 active listings in the ZIP.

Forward outlook

• In year one you build about $7k of equity ($829 loan paydown + $6k appreciation (4.8% local appreciation)).
• At projected returns (4.8% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, 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 248 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.09% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.58%
• DSCR: 1.38
• GRM: 7.6

CMA / ARV

• ARV (median comp): $138,018
• List price: $119,900
• Delta: -13.13%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

4.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.24×
• Total profit: $41,496
• Equity at exit: $66,429

10-year hold

• IRR: 19.7%
• Equity multiple: 4.36×
• Total profit: $112,938
• Equity at exit: $113,412

Cash invested: $33,572 (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 31634

• Home prices YoY: 2.9%
• Active inventory: 30
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,310 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$116 /mo · $1,398/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $240

Break-even live

Break-even rent $1,007

Max offer price $119,900

Occupancy floor 77%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-01
   status $119,900 Pending 248 DOM
2. 2026-05-31
   days on market $119,900 Active 248 DOM
3. 2026-05-31
   days on market $119,900 Active 247 DOM
4. 2026-04-30
   price $119,900 470-char remark

   Show marketing remark (470 chars)

   You won't find another house this size for this price! This spacious ranch located in the heart of Homerville is a diamond waiting to shine again. Unique layout offering space to bring your creative ideas to life! Roof was recently replaced offering a piece of mind and comfort. Not only does this home have a two car garage, but there is an additional two car garage/workshop. Cash, Conventional, or 203K loans would work for this home. Call for your appointment today!

5. 2026-03-21
   status Active 470-char remark

   Show marketing remark (470 chars)

   You won't find another house this size for this price! This spacious ranch located in the heart of Homerville is a diamond waiting to shine again. Unique layout offering space to bring your creative ideas to life! Roof was recently replaced offering a piece of mind and comfort. Not only does this home have a two car garage, but there is an additional two car garage/workshop. Cash, Conventional, or 203K loans would work for this home. Call for your appointment today!

6. 2026-03-12
   historical 470-char remark

   Show marketing remark (470 chars)

   You won't find another house this size for this price! This spacious ranch located in the heart of Homerville is a diamond waiting to shine again. Unique layout offering space to bring your creative ideas to life! Roof was recently replaced offering a piece of mind and comfort. Not only does this home have a two car garage, but there is an additional two car garage/workshop. Cash, Conventional, or 203K loans would work for this home. Call for your appointment today!

7. 2026-02-13
   price $125,000 470-char remark

   Show marketing remark (470 chars)

   You won't find another house this size for this price! This spacious ranch located in the heart of Homerville is a diamond waiting to shine again. Unique layout offering space to bring your creative ideas to life! Roof was recently replaced offering a piece of mind and comfort. Not only does this home have a two car garage, but there is an additional two car garage/workshop. Cash, Conventional, or 203K loans would work for this home. Call for your appointment today!

8. 2025-12-05
   status Active 470-char remark

   Show marketing remark (470 chars)

   You won't find another house this size for this price! This spacious ranch located in the heart of Homerville is a diamond waiting to shine again. Unique layout offering space to bring your creative ideas to life! Roof was recently replaced offering a piece of mind and comfort. Not only does this home have a two car garage, but there is an additional two car garage/workshop. Cash, Conventional, or 203K loans would work for this home. Call for your appointment today!

9. 2025-11-12
   historical Active Under Contract 470-char remark

   Show marketing remark (470 chars)

   You won't find another house this size for this price! This spacious ranch located in the heart of Homerville is a diamond waiting to shine again. Unique layout offering space to bring your creative ideas to life! Roof was recently replaced offering a piece of mind and comfort. Not only does this home have a two car garage, but there is an additional two car garage/workshop. Cash, Conventional, or 203K loans would work for this home. Call for your appointment today!

10. 2025-10-16
    price $130,000 470-char remark

    Show marketing remark (470 chars)

    You won't find another house this size for this price! This spacious ranch located in the heart of Homerville is a diamond waiting to shine again. Unique layout offering space to bring your creative ideas to life! Roof was recently replaced offering a piece of mind and comfort. Not only does this home have a two car garage, but there is an additional two car garage/workshop. Cash, Conventional, or 203K loans would work for this home. Call for your appointment today!

11. 2025-09-17
    listed $140,000 Active 470-char remark

    Show marketing remark (470 chars)

    You won't find another house this size for this price! This spacious ranch located in the heart of Homerville is a diamond waiting to shine again. Unique layout offering space to bring your creative ideas to life! Roof was recently replaced offering a piece of mind and comfort. Not only does this home have a two car garage, but there is an additional two car garage/workshop. Cash, Conventional, or 203K loans would work for this home. Call for your appointment today!

ⓘ 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: $1,398 · $116/mo
• Projected year-2 tax: $1,398 · $116/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 8/10 Severe 17 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,725
• − Mortgage interest: −$6,716
• − Property taxes: −$1,398
• − Insurance: −$600
• − Repairs & maintenance: −$1,258
• − Management: −$1,258
• − Depreciation: −$3,488
• Taxable income: $1,008
• Est. tax owed @ 24.0%: −$242
• After-tax cash flow: $2,639/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: Clinch County
• NCES district ID: 1301260
• Math proficiency: 34% ▲ 8.00%
• Reading proficiency: 30% ▼ -2.00%
• Median HH income: $31,048
• Composite: 26.08/100
• National rank: #7295
• State rank: #90 of 174 in GA

Livability — Homerville

• Score: 62/100
• State rank: #303
• US rank: #16493

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homerville, GA
• Population (ZIP): 5,178

Population outlook (Clinch County) Hauer SSP2

• Today (2025): 7,052 people
• By 2030: 7,091 · +0.6%
• By 2040: 7,116 · +0.9%
• By 2050: 7,170 · +1.7%
• By 2075: 7,495 · +6.3%
• By 2100: 7,828 · +11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 27% Two or more races 4%
• Common ancestry: Serbian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Clinch

• 2024 margin: Solid R (+51.5) · D 24.1% · R 75.7%
• 2008→2024 swing: -26.0pp toward R · 2008: -25.6pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+47.6 2016: R+42.5 2012: R+30.2 2008: R+25.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.79%
• Current HPI: 168.9842
• 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

-14.4% since first listed

8 events — show timeline

• 2026-04-30 Price Changed $119,900 SGMLS
• 2026-03-21 Relisted — SGMLS
• 2026-03-12 Delisted — SGMLS
• 2026-02-13 Price Changed $125,000 SGMLS
• 2025-12-05 Relisted — SGMLS
• 2025-11-12 Contingent — SGMLS
• 2025-10-16 Price Changed $130,000 SGMLS
• 2025-09-17 Listed $140,000 SGMLS

Property tax history

+3.1%/yr

Latest (2025): $1,398 · +18.1% YoY. Source: county tax records.