550 Cowan Rd · Porterdale, GA 30016

$189,900

3 bd · 2.0 ba · 1,092 sqft · SingleFamily public records · 3 Days on market

Built 1992 0.58 ac lot Est $207k · 8% under

---

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 +20.3/30.0
• ARV discount +11.3/15.0
• DSCR +6.4/10.0
• 1% rule +5.1/10.0
• Rent growth +3.0/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ADORABLE 3/2 RANCH IN LOVELY COUNTRY WOODS SUBDIVISION! GLEAMING HARDWOOD FLOORS, WITH FRESH PAINT, CARPET AND NEW A/C CONDENSER. THIS HOME HAS A SPACIOUS FLOOR PLAN & LARGE FRONT PORCH TO COMPLIMENT THIS TRANQUIL SETTING! COZY COUNTRY KITCHEN WITH AMPLE COUNTER TOP/CABINET SPACE AND WALK-OUT PATIO MAKE THIS HOME PERFECT FOR ENTERTAINING. THIS HOME HAS BEEN WELL MAINTAINED & SQUARE FOOTAGE IS WELL UTILIZED. HOSTS IDEAL POTENTIAL FOR INVESTORS OR OWNER OCCUPANTS.

Key facts

• Eat-in area
• Ample cabinetry
• Primary suite

Tags

• SPACIOUS FAMILY ROOM
• AMPLE CABINETRY
• GENEROUS COUNTERTOP SPACE
• EAT-IN AREA
• PRIMARY SUITE
• EN-SUITE BATHROOM

Property features AI

Exterior

• Parking: Attached carport; One carport space
• Utilities: Public water; Public sewer; Electricity (110 volts); Electricity, water, and sewer available
• Home design: Single-story home; Resale property
• Construction: Wood siding construction; Shingle roof
• Exterior features: Front porch; Patio; Back yard fencing (wood)

Interior

• Kitchen: White cabinets; Other surface countertops; Dishwasher; Electric range; Refrigerator
• Bedrooms: Three bedrooms on the main level; Primary bedroom on the main level
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms; Primary bathroom with tub/shower combo; Two main-level bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: No shared/common walls; Other interior features
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 7.8% vs local median 5.1% in Porterdale — 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 58/100 on livability (#447 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+, housing B; Watch: amenities F, commute F, employment F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: South Salem Elementary School (math 8% / reading 15%, grade F, #1,069 of 1,228 statewide, top 87%, 852 students, 85% FRL); Alcovy High School (math 3% / reading 12%, grade F, #378 of 424 statewide, top 91%, 1,991 students, 55% FRL).
• Zoned-school proficiency averages 10% at this address vs 22% district-wide (-12 pts) — the specific schools serving this property underperform the Newton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.8%/yr); 419 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,480 units permitted in Newton County in 2024 (702 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 $6k of value loss. Plan a longer hold.
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.01% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.48%
• DSCR: 1.24
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $207,480
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
365 Cowan Rd	0.34mi	3/2.0	1,190 (+9%)	14mo	$216,000	$182	58
115 Branchwood Dr	0.43mi	3/2.0	1,235 (+13%)	3mo	$235,000	$190	56
215 Cowan Rd	0.56mi	3/2.0	1,234 (+13%)	4mo	$250,000	$203	49
220 Cowan Rd	0.59mi	3/1.0	1,100 (+1%)	23mo	$190,000	$173	48

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

Projected returns pro-forma

-3.0% appreciation · 1.84% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-17,526
• Equity at exit: $28,315

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-4,212
• Equity at exit: $16,419

Cash invested: $53,172 (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 30016

• Home prices YoY: -8.6%
• Rents YoY: 1.8%
• Active inventory: 419
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,917 high
• Mortgage (P&I): −$996
• Tax from tax record: −$197 /mo · $2,358/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $243

Break-even live

Break-even rent $1,609

Max offer price $189,900

Occupancy floor 82%

Sensitivity live

Price	-10% $350	-5% $296	+0% $243	+5% $189	+10% $135
Rent	-10% $91	-5% $167	+0% $243	+5% $318	+10% $394
Rate	-1.0pp $338	-0.5pp $291	base $243	+0.5pp $193	+1.0pp $143

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Lazy Hollow Ln Covington, GA	3.0	2.0	1348	$1,805	$1.34	25d	1	0.15mi
90 Lazy Hollow Ln Covington, GA	3.0	2.0	1294	$1,761	$1.36	13d	1	0.15mi
155 Creekside Trl Covington, GA	3.0	2.0	1394	$1,745	$1.25	6d	1	0.48mi
705 Mills Dr Covington, GA	3.0	2.0	1196	$1,641	$1.37	44d	1	0.58mi
55 Creekstone Ct Covington, GA	3.0	2.0	1350	$1,775	$1.31	13d	1	0.78mi
195 Falcon Ridge Dr Covington, GA	3.0	2.0	1319	$1,819	$1.38	4d	1	1.15mi
65 White Oak Dr Covington, GA	4.0	2.0	1269	$1,810	$1.43	25d	1	1.16mi
20 Glynn Isle Dr Covington, GA	3.0	2.0	1401	$1,877	$1.34	18d	1	1.18mi
150 Lakeside Dr Covington, GA	4.0	3.0	1264	$2,060	$1.63	2d	1	1.24mi
300 Claremont Dr Covington, GA	3.0	2.0	1398	$1,895	$1.36	6d	1	1.49mi

Listing history 4 events

1. 2026-06-18
   days on market $189,900 Active 3 DOM
2. 2026-06-17
   days on market $189,900 Active 2 DOM
3. 2026-06-15
   remarks 699-char remark
4. 2026-06-15
   listed $189,900 Active 1 DOM

ⓘ 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: $2,358 · $197/mo
• Projected year-2 tax: $2,358 · $197/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,999
• − Mortgage interest: −$10,637
• − Property taxes: −$2,358
• − Insurance: −$950
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − Depreciation: −$5,524
• Taxable loss: −$150
• Est. tax savings @ 24.0%: +$36
• After-tax cash flow: $2,948/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: Newton County
• NCES district ID: 1303930
• Math proficiency: 17% ▼ -13.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $50,768
• Composite: 19.2/100
• National rank: #8816
• State rank: #137 of 174 in GA

Livability — Porterdale

• Score: 58/100
• State rank: #447
• US rank: #21362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Newton County · 104,393 people
• City population: 76
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,968
• Household income: $79,527
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 1172.0

Population outlook (Newton County) Hauer SSP2

• Today (2025): 118,372 people
• By 2030: 124,234 · +5.0%
• By 2040: 135,550 · +14.5%
• By 2050: 145,309 · +22.8%
• By 2075: 166,843 · +40.9%
• By 2100: 175,800 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Newton

• 2024 margin: D (+15.1) · D 57.3% · R 42.2%
• 2008→2024 swing: +14.0pp toward D · 2008: 1.2pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+10.9 2016: D+2.4 2012: D+2.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.68%
• Current HPI: 317.5605
• Rent YoY: ▲ 1.84%
• Metro: Atlanta-Sandy Springs-Alpharetta, 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

+179.7% since first listed

26 events — show timeline

• 2026-06-15 Listed $189,900 FMLS
• 2026-06-14 Coming Soon $189,900 FMLS
• 2022-02-22 Sold (Public Records) $1,660,000 Public Records
• 2015-01-10 Price Changed $59,000 FMLS
• 2015-01-09 Listing Removed — FMLS
• 2015-01-02 Listed — FMLS
• 2014-12-30 Listing Removed — FMLS
• 2014-11-15 Price Changed $59,000 GAMLS
• 2014-11-06 Sold (Public Records) $59,000 Public Records
• 2014-10-31 Sold (MLS) $59,000 GAMLS
• 2014-10-31 Price Changed $62,000 FMLS
• 2014-10-31 Sold (MLS) $59,000 FMLS
• 2014-10-07 Pending — GAMLS
• 2014-10-07 Pending — FMLS
• 2014-10-07 Price Changed $62,000 GAMLS
• 2014-08-20 Listed $62,000 GAMLS
• 2014-08-20 Listed $62,000 FMLS
• 2012-04-11 Listing Removed — GAMLS
• 2012-04-10 Relisted — GAMLS
• 2012-01-23 Listing Removed — GAMLS
• 2011-12-15 Pending — GAMLS
• 2011-11-12 Relisted — GAMLS
• 2011-11-02 Listing Removed — GAMLS
• 2011-08-20 Price Changed $29,900 GAMLS
• 2011-05-18 Listed $35,500 GAMLS
• 1997-01-23 Sold (Public Records) $67,900 Public Records

Property tax history

+5.3%/yr

Latest (2025): $2,358 · +17.6% YoY. Source: county tax records.