435 Shadowmoor Dr · Thomson, GA 30824

$1,124,000

None bd · None ba · — sqft · MultiFamily · 27 Days on market

Built 1986 Fair condition 0.77 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 17 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

* * * Investment Opportunity: Alexandria Court Apartments - Thomson, Georgia Discover an exceptional chance to expand your real estate portfolio with Alexandria Court Apartments, a fully occupied 17-unit multifamily complex located just outside the Thomson city limits in a well-established residential area. Built in 1986, this property has been consistently maintained and is currently under professional management by Watson & Knox Property Management. The complex is 100% occupied, offering immediate, stable income for an investor seeking a turnkey asset. The listing agent also serves as the current property manager, ensuring seamless access to operational insights and performance

Key facts

• Desirable location
• Growing market
• Multifamily complex

Tags

• INVESTMENT OPPORTUNITY
• MULTIFAMILY COMPLEX
• DEPENDABLE MANAGEMENT
• DESIRABLE LOCATION
• PERFORMING ASSET
• GROWING MARKET

Property features AI

Finance

• Other: Property condition: Resale
• Financial info: Reported gross income: $10,475
• HOA & community: No HOA

Exterior

• Parking: Parking pad; Open parking available
• Utilities: Public water; Public sewer; Electricity with individual meters; Sewer connected; Water billing prorated
• Home design: Residential income property; Multi-family structure; Multi-family property with 17 units
• Construction: Built in 1986
• Exterior features: Brick and wood siding construction; Approximately 0.77-acre lot

Interior

• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: One level; No basement; No fireplaces reported

What this means for you Summary

Snapshot

• This is a 17 × 1-bed/1-bath units multifamily listed at $1.12M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive. Per door: $254/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.12M).
• Recommended offer: $1.11M (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.8% in Thomson — 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 (#357 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Mcduffie County (rural): math 12% / reading 19% proficiency, ranked #156 of 174 in GA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Thomson Elementary School (math 17% / reading 22%, grade F, #878 of 1,228 statewide, top 75%, 292 students, 90% FRL); Thomson High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 986 students, 89% FRL) — zoned schools average 89% FRL vs 65% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 191 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 64 units permitted in McDuffie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $34k of value loss. Plan a longer hold.
• McDuffie County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $315k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($1.11M) is reasonable based on typical stale-listing flexibility.

Recommended offer $1,107,140 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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: 1.36% ✓
• Cap rate: 10.91%
• Cash-on-cash: 16.48%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.6%
• Equity multiple: 1.30×
• Total profit: $93,444
• Equity at exit: $167,592

10-year hold

• IRR: 16.9%
• Equity multiple: 2.39×
• Total profit: $436,864
• Equity at exit: $97,183

Cash invested: $314,720 (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 30824

• Home prices YoY: -7.3%
• Active inventory: 191
• Price-to-rent: 104.0×

Monthly cashflow live

• Estimated rent: $15,305 medium
• Mortgage (P&I): −$5,894
• Tax est. 1.5%: −$1,405 /mo · $16,860/yr
• Insurance: −$468
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,214
• Net cashflow: $4,323

Break-even live

Break-even rent $9,833

Max offer price $1,124,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 17× units	1	1	$15,300
Total (17 units)			$15,305

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: $281,000
• Closing costs: $33,720
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
464 Bussey Ave Unit B Thomson, GA	2.0	1.0	—	$825	—	43d	1	1.04mi
462 Bussey Ave Unit A Thomson, GA	3.0	1.5	—	$950	—	43d	1	1.04mi
208 Watson St Unit 11 Thomson, GA	2.0	1.5	881	$975	$1.11	43d	1	1.07mi
431 Bussey Ave Thomson, GA	3.0	1.5	1174	$1,190	$1.01	43d	1	1.07mi
642 Forrest Clary Dr Ext Thomson, GA	2.0–3.0	1.0–1.5	1075	$903	$0.84	23d	1	1.18mi
104 White Oak St Thomson, GA	3.0	1.0	900	$975	$1.08	43d	1	1.32mi

Listing history 17 events

1. 2026-06-18
   days on market $1,124,000 Active 27 DOM
2. 2026-06-17
   days on market $1,124,000 Active 26 DOM
3. 2026-06-16
   days on market $1,124,000 Active 25 DOM
4. 2026-06-15
   days on market $1,124,000 Active 24 DOM
5. 2026-06-13
   days on market $1,124,000 Active 22 DOM
6. 2026-06-12
   days on market $1,124,000 Active 21 DOM
7. 2026-06-09
   days on market $1,124,000 Active 18 DOM
8. 2026-06-08
   days on market $1,124,000 Active 17 DOM
9. 2026-06-07
   days on market $1,124,000 Active 16 DOM
10. 2026-06-07
    statusdays on market $1,124,000 Active 15 DOM
11. 2026-06-04
    days on market $1,124,000 New 12 DOM
12. 2026-06-02
    days on market $1,124,000 New 11 DOM
13. 2026-06-01
    days on market $1,124,000 New 10 DOM
14. 2026-05-31
    days on market $1,124,000 New 9 DOM
15. 2026-05-31
    days on market $1,124,000 New 8 DOM
16. 2026-05-21
    listed $1,124,000 New
17. 2022-03-16
    price $625

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $183,660
• − Mortgage interest: −$62,961
• − Property taxes: −$16,860
• − Insurance: −$5,620
• − Repairs & maintenance: −$14,693
• − Management: −$14,693
• − Depreciation: −$32,698
• Taxable income: $36,135
• Est. tax owed @ 24.0%: −$8,672
• After-tax cash flow: $43,207/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and updates to its exterior, interior, and systems, but presents a substantial investment opportunity with potential for substantial value appreciation.

Repairs flagged

• Major exterior siding — Significant damage and wear
• Major roof — Visible signs of deterioration
• Major flooring — Severe wear and tear
• Major interior walls/paint — Worn and discolored
• Major kitchen cabinetry — Outdated and in poor condition
• Major bathroom fixtures — Outdated and possibly moldy
• Major HVAC/mechanicals — No recent maintenance

Value-add opportunities

• Both exterior siding and roof repair — Improves curb appeal and structural integrity
• Both flooring replacement — Enhances living space and resale value
• Both paint and interior updates — Refreshes the interior and improves rental appeal
• Both kitchen and bathroom updates — Modernizes the spaces and boosts value
• Both HVAC and mechanical upgrades — Ensures comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant damage and wear	Major	$15,000–50,000
roof · Visible signs of deterioration	Major	$15,000–50,000
flooring · Severe wear and tear	Major	$15,000–50,000
interior walls/paint · Worn and discolored	Major	$15,000–50,000
kitchen cabinetry · Outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · Outdated and possibly moldy	Major	$15,000–50,000
HVAC/mechanicals · No recent maintenance	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both exterior siding and roof repair — Improves curb appeal and structural integrity ↑
• Both flooring replacement — Enhances living space and resale value ↑
• Both paint and interior updates — Refreshes the interior and improves rental appeal ↑
• Both kitchen and bathroom updates — Modernizes the spaces and boosts value ↑
• Both HVAC and mechanical upgrades — Ensures comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mcduffie County
• NCES district ID: 1303570
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 19% ▼ -8.00%
• Median HH income: $37,658
• Composite: 12.98/100
• National rank: #9570
• State rank: #156 of 174 in GA

Livability — Thomson

• Score: 61/100
• State rank: #357
• US rank: #18372

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 17,181

Population outlook (McDuffie County) Hauer SSP2

• Today (2025): 20,590 people
• By 2030: 19,922 · -3.2%
• By 2040: 18,451 · -10.4%
• By 2050: 16,898 · -17.9%
• By 2075: 13,647 · -33.7%
• By 2100: 10,421 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 49% Black 46% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · McDuffie

• 2024 margin: Strong R (+24.9) · D 37.4% · R 62.3%
• 2008→2024 swing: -10.0pp toward R · 2008: -14.9pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+19.1 2016: R+18.7 2012: R+15.0 2008: R+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.21%
• Current HPI: 243.7734
• 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

2 events — show timeline

• 2026-05-21 Listed $1,124,000 GAMLS
• 2022-03-16 Price Changed $625 RENT.