3489 Ivy Ct · Martinez, GA 30809

$199,999

3 bd · 2.0 ba · 1,350 sqft · SingleFamily · 1 Days on market

Built 1978 0.29 ac lot Est $225k · 11% under

---

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).

• Cash flow +13.3/30.0
• ARV discount +12.6/15.0
• Schools +4.5/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 3849 Ivey Court, a charming three-bedroom, two-bathroom ranch style home nestled in a peaceful cul-de-sac in Martinez, Georgia. This residence boasts an updated kitchen featuring sleek new cabinets with soft-close mechanisms, perfect for culinary enthusiasts. Enjoy the comfort of new flooring throughout the home and fresh paint that enhances its modern appeal. The property has a brand new roof as of November 2024, ensuring peace of mind for years to come. With a four-year-old HVAC system and a five-year-old water heater, you can enjoy efficient living with minimal maintenance concerns. The seller has made significant updates to the home, leaving the bathrooms and the yard ready

Key facts

• Fresh paint
• New flooring
• Updated kitchen

Tags

• UPDATED KITCHEN
• NEW FLOORING
• FRESH PAINT
• NEW ROOF
• FOUR-YEAR-OLD HVAC SYSTEM
• FIVE-YEAR-OLD WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $0 ($-5/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (0.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (12.5% below list).
• Recommended offer: $175k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.5% in Martinez — 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 76/100 on livability (#23 in GA, #3,514 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Columbia County (suburban): math 49% / reading 52% proficiency, ranked #13 of 174 in GA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.5%/yr); 516 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,213 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($125k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• Columbia County population projected at +62% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $174,907 (12.5% 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. Built in 1978 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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: 0.87% ✗
• Cap rate: 6.29%
• Cash-on-cash: -0.01%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $225,450
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
277 W Wynngate Dr	0.13mi	3/2.0	1,367 (+1%)	2mo	$225,000	$165	90
3839 Ivey Ct	0.02mi	3/2.0	1,336 (-1%)	11mo	$220,000	$165	88
265 Greystone St	0.24mi	3/2.0	1,323 (-2%)	2mo	$277,000	$209	84
252 W Wynngate Dr	0.30mi	3/2.0	1,384 (+2%)	2mo	$254,000	$184	80
3759 Tailboard Way	0.45mi	3/2.0	1,352 (+0%)	5mo	$210,000	$155	74
272 E Wynngate Dr	0.35mi	3/2.0	1,438 (+6%)	2mo	$245,000	$170	72
309 Candlewood Dr	0.53mi	3/2.0	1,384 (+2%)	2mo	$239,900	$173	70
270 Valley View Ct	0.18mi	3/2.0	1,180 (-13%)	4mo	$230,000	$195	67
322 Sleepy Hollow Ct	0.40mi	3/2.5	1,527 (+13%)	8mo	$255,000	$167	51
246 Anneswood Rd	0.65mi	3/1.5	1,266 (-6%)	9mo	$160,000	$126	50
4052 Danielle Dr	0.73mi	3/2.5	1,496 (+11%)	10mo	$239,900	$160	38
3623 Old Ferry Rd	0.72mi	3/2.0	1,551 (+15%)	9mo	$234,900	$151	34

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.33×
• Total profit: $-37,532
• Equity at exit: $29,821

10-year hold

• IRR: -20.7%
• Equity multiple: 0.06×
• Total profit: $-52,416
• Equity at exit: $17,292

Cash invested: $56,000 (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 30809

• Home prices YoY: -22.1%
• Rents YoY: -0.5%
• Active inventory: 516
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,749 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $-0

Break-even live

Break-even rent $1,750

Max offer price $199,944

Occupancy floor 95%

Sensitivity live

Price	-10% $138	-5% $69	+0% $0	+5% $-69	+10% $-139
Rent	-10% $-139	-5% $-69	+0% $0	+5% $69	+10% $138
Rate	-1.0pp $100	-0.5pp $50	base $0	+0.5pp $-52	+1.0pp $-105

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 Old Plantation Rd Augusta, GA	2.0	2.0	1022	$1,100	$1.08	45d	2	0.31mi
3747 Cactus Trl Augusta, GA	3.0	2.5	1800	$1,956	$1.09	45d	1	0.48mi
154 Anneswood Rd Augusta, GA	3.0	1.5	1545	$2,000	$1.29	45d	1	0.59mi
519 Rocky Ridge Dr Unit 1 Martinez, GA	3.0	2.0	1789	$2,100	$1.17	45d	1	0.79mi
300 Applecross Dr Martinez, GA	2.0	2.0	950	$1,200	$1.26	25d	1	0.97mi
3520 Washington Rd Martinez, GA	2.0	2.0	950	$1,200	$1.26	45d	1	0.98mi
104 Bens Pl Unit 104 Martinez, GA	3.0	3.0	1495	$1,850	$1.24	45d	1	1.12mi
3909 Almon Dr Augusta, GA	2.0	2.0	1221	$1,550	$1.27	45d	1	1.13mi
303 Wave Hl Augusta, GA	1.0–3.0	1.0–2.0	1034	$1,915	$1.85	16d	25	1.21mi
4500 Chestnut Trl Evans, GA	3.0	2.5	1540	$1,850	$1.20	25d	1	1.24mi
4300 River Watch Pkwy Martinez, GA	1.0–3.0	1.0–2.0	1057	$1,709	$1.62	16d	16	1.25mi
3501 Rainbow St Augusta, GA	3.0	2.0	1103	$1,675	$1.52	25d	1	1.27mi
3501 Rainbow St Augusta, GA	3.0	2.0	1103	$1,675	$1.52	45d	1	1.27mi
255 Miramar Dr Augusta, GA	3.0	2.0	1331	$1,600	$1.20	16d	1	1.29mi
3412 Crane Ferry Rd Augusta, GA	3.0	1.5	1375	$1,300	$0.95	45d	1	1.33mi
123 Canton Park Ave Evans, GA	3.0	2.5	1540	$1,885	$1.22	25d	1	1.33mi
23 Londonberry Ln Augusta, GA	2.0	2.0	1100	$1,995	$1.81	25d	1	1.35mi
23 Londonberry Ln Augusta, GA	2.0	2.0	1100	$1,995	$1.81	45d	1	1.35mi
142 Canton Park Ave Unit 1 Evans, GA	3.0	2.5	1659	$1,850	$1.12	45d	1	1.35mi
317 Sumac Trl Evans, GA	3.0	2.5	1668	$1,935	$1.16	23d	1	1.38mi
3403 Ravenwood Dr Augusta, GA	3.0	2.0	1560	$1,600	$1.03	25d	1	1.38mi
323 Sally Dr Augusta, GA	3.0	2.0	1434	$1,595	$1.11	45d	1	1.40mi
323 Sally Dr Augusta, GA	3.0	2.0	1434	$1,595	$1.11	25d	1	1.40mi
65 Montebello Ln Augusta, GA	2.0	2.0	1092	$1,300	$1.19	45d	1	1.42mi
500 Commons Dr Unit 500 Evans, GA	3.0	2.0	1200	$1,175	$0.98	45d	1	1.44mi
2326 Greengate Dr Augusta, GA	3.0	2.0	1216	$1,495	$1.23	25d	1	1.47mi
240 Maywood Dr Augusta, GA	3.0	1.5	1674	$1,400	$0.84	45d	1	1.48mi

Listing history 2 events

1. 2025-03-01
   status Pending
2. 2025-02-28
   listed $199,999 Active

ⓘ 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: $20,989
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − Depreciation: −$5,818
• Taxable loss: −$3,391
• Est. tax savings @ 24.0%: +$814
• After-tax cash flow: $809/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: Columbia County
• NCES district ID: 1301410
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 52% ▼ -4.00%
• Median HH income: $69,358
• Composite: 45.04/100
• National rank: #2695
• State rank: #13 of 174 in GA

Livability — Martinez

• Score: 76/100
• State rank: #23
• US rank: #3514

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martinez, GA
• County: Columbia County · 154,184 people
• City population: 46,975
• Metro: Augusta-Richmond County, GA-SC
• Population (ZIP): 54,743
• Household income: $125,272
• Rent vs Own: 14.8% rent · 85.2% own
• Severe rent burden: 787.0

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 189,073 people
• By 2030: 212,277 · +12.3%
• By 2040: 259,480 · +37.2%
• By 2050: 306,991 · +62.4%
• By 2075: 421,213 · +122.8%
• By 2100: 496,722 · +162.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 13% Hispanic / Latino 7% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Columbia

• 2024 margin: Strong R (+25.6) · D 36.8% · R 62.5%
• 2008→2024 swing: +17.0pp toward D · 2008: -42.7pp · 2024: -25.6pp
• All cycles: 2024: R+25.6 2020: R+25.8 2016: R+37.7 2012: R+43.0 2008: R+42.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.73%
• Current HPI: 220.4452
• Rent YoY: ▼ -0.51%
• Metro: Augusta-Richmond County, GA-SC
• 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

• 2025-03-01 Pending — AMLS
• 2025-02-28 Listed $199,999 AMLS