504 Webster Dr · Manchester, GA 31816

$151,500

3 bd · 2.0 ba · 1,299 sqft · SingleFamily public records · 113 Days on market

Built 1959 0.50 ac lot $117/sqft · 6% below area Est $160k · 6% under

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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 +22.3/30.0
• ARV discount +10.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.1/10.0
• 1% rule +4.6/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

This home has charm written all over it. Built in 1959, this home is located in a well established neighborhood. The front porch has a pretty tile floor and is large enough for rocking chairs. There is a split bedroom plan with all 4 bedrooms being a nice size. There is a sweet back screened porch that over looks the back yard. This home is just waiting for the right family.

Key facts

• Tile floor
• Back screened porch
• Back yard

Tags

• FRONT PORCH
• TILE FLOOR
• BACK SCREENED PORCH
• BACK YARD
• WELL ESTABLISHED NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $152k.

Deal economics

• At list price, monthly cash flow is $250 ($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 $145k (4.3% below list).
• Recommended offer: $138k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 5.1% in Manchester — 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 55/100 on livability (#525 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime D-, amenities F.
• Meriwether County (rural): math 18% / reading 22% proficiency, ranked #144 of 174 in GA (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 45 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 180 units permitted in Meriwether County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Meriwether County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y 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.
• Current owner paid $56k; list at $152k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,865 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — 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. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 0.96% ✗
• Cap rate: 8.27%
• Cash-on-cash: 7.07%
• DSCR: 1.31
• GRM: 8.7

CMA / ARV

• ARV (median comp): $160,327
• List price: $151,500
• Delta: -5.51%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
819 Nebula Rd	0.30mi	3/1.0	1,316 (+1%)	9mo	$150,000	$114	72
614 Peach St	0.35mi	2/2.0 (-1)	1,312 (+1%)	9mo	$111,500	$85	70
904 Linda Ln	0.46mi	3/2.0	1,325 (+2%)	7mo	$177,000	$134	69
607 Farris Blvd	0.21mi	2/2.0 (-1)	1,260 (-3%)	14mo	$140,000	$111	69
602 Parkman Dr	0.32mi	3/1.5	1,352 (+4%)	9mo	$140,000	$104	68
603 Parkman Dr	0.32mi	3/1.5	1,352 (+4%)	9mo	$140,000	$104	68
506 Webster Dr	0.02mi	3/1.5	1,107 (-15%)	10mo	$160,500	$145	64
104 4th St	0.64mi	3/2.0	1,344 (+4%)	10mo	$138,000	$103	56
504 W Main St	0.43mi	2/1.0 (-1)	1,238 (-5%)	12mo	$117,500	$95	54
922 Linda Ln	0.61mi	3/2.0	1,148 (-12%)	3mo	$84,500	$74	50
415 Broad St	0.64mi	3/1.5	1,438 (+11%)	15mo	$130,000	$90	38
933 Linda Ln	0.71mi	3/2.0	1,492 (+15%)	17mo	$199,900	$134	28

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.4%
• Equity multiple: 3.32×
• Total profit: $98,364
• Equity at exit: $136,483

10-year hold

• IRR: 25.5%
• Equity multiple: 7.53×
• Total profit: $277,001
• Equity at exit: $294,331

Cash invested: $42,420 (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 31816

• Home prices YoY: 8.7%
• Active inventory: 45
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$794
• Tax from tax record: −$38 /mo · $454/yr
• Insurance: −$63
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $250

Break-even live

Break-even rent $1,134

Max offer price $151,500

Occupancy floor 78%

Sensitivity live

Price	-10% $336	-5% $293	+0% $250	+5% $207	+10% $164
Rent	-10% $135	-5% $193	+0% $250	+5% $307	+10% $365
Rate	-1.0pp $326	-0.5pp $289	base $250	+0.5pp $211	+1.0pp $171

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: $37,875
• Closing costs: $4,545
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 Walker Ave Manchester, GA	4.0	2.5	1600	$1,450	$0.91	20d	1	0.43mi

Listing history 31 events

1. 2026-06-19
   days on market $151,500 Active 113 DOM
2. 2026-06-18
   days on market $151,500 Active 112 DOM
3. 2026-06-17
   days on market $151,500 Active 111 DOM
4. 2026-06-16
   days on market $151,500 Active 110 DOM
5. 2026-06-15
   days on market $151,500 Active 109 DOM
6. 2026-06-14
   days on market $151,500 Active 107 DOM
7. 2026-06-12
   days on market $151,500 Active 106 DOM
8. 2026-06-09
   days on market $151,500 Active 103 DOM
9. 2026-06-08
   days on market $151,500 Active 102 DOM
10. 2026-06-07
    days on market $151,500 Active 101 DOM
11. 2026-06-05
    days on market $151,500 Active 98 DOM
12. 2026-06-03
    days on market $151,500 Active 97 DOM
13. 2026-06-02
    days on market $151,500 Active 96 DOM
14. 2026-06-01
    days on market $151,500 Active 95 DOM
15. 2026-05-31
    days on market $151,500 Active 94 DOM
16. 2026-05-30
    days on market $151,500 Active 93 DOM
17. 2026-04-09
    price $151,500 379-char remark

    Show marketing remark (313 chars)

    This home was built in 1959 and has charm written all over it. Located in an area of older established homes. A split bedroom plan with all 4 bedrooms are good size. Front porch has a very pretty tile floor and large enough for rocking chairs. Back screened porch lookings over the back yard. Such a sweet home !!

18. 2026-04-09
    price $151,500 313-char remark

    Show marketing remark (313 chars)

    This home was built in 1959 and has charm written all over it. Located in an area of older established homes. A split bedroom plan with all 4 bedrooms are good size. Front porch has a very pretty tile floor and large enough for rocking chairs. Back screened porch lookings over the back yard. Such a sweet home !!

19. 2026-03-03
    status Back On Market 379-char remark

    Show marketing remark (379 chars)

    This home has charm written all over it. Built in 1959, this home is located in a well established neighborhood. The front porch has a pretty tile floor and is large enough for rocking chairs. There is a split bedroom plan with all 4 bedrooms being a nice size. There is a sweet back screened porch that over looks the back yard. This home is just waiting for the right family.

20. 2026-03-02
    status Active 313-char remark

    Show marketing remark (313 chars)

    This home was built in 1959 and has charm written all over it. Located in an area of older established homes. A split bedroom plan with all 4 bedrooms are good size. Front porch has a very pretty tile floor and large enough for rocking chairs. Back screened porch lookings over the back yard. Such a sweet home !!

21. 2026-02-18
    status Under Contract 379-char remark

    Show marketing remark (313 chars)

    This home was built in 1959 and has charm written all over it. Located in an area of older established homes. A split bedroom plan with all 4 bedrooms are good size. Front porch has a very pretty tile floor and large enough for rocking chairs. Back screened porch lookings over the back yard. Such a sweet home !!

22. 2026-02-18
    status Pending 313-char remark

    Show marketing remark (313 chars)

    This home was built in 1959 and has charm written all over it. Located in an area of older established homes. A split bedroom plan with all 4 bedrooms are good size. Front porch has a very pretty tile floor and large enough for rocking chairs. Back screened porch lookings over the back yard. Such a sweet home !!

23. 2026-02-13
    listed $154,900 Active 313-char remark

    Show marketing remark (313 chars)

    This home was built in 1959 and has charm written all over it. Located in an area of older established homes. A split bedroom plan with all 4 bedrooms are good size. Front porch has a very pretty tile floor and large enough for rocking chairs. Back screened porch lookings over the back yard. Such a sweet home !!

24. 2026-02-12
    listed $154,900 New 379-char remark

    Show marketing remark (379 chars)

    This home has charm written all over it. Built in 1959, this home is located in a well established neighborhood. The front porch has a pretty tile floor and is large enough for rocking chairs. There is a split bedroom plan with all 4 bedrooms being a nice size. There is a sweet back screened porch that over looks the back yard. This home is just waiting for the right family.

25. 2020-01-11
    historical
26. 2019-11-08
    price $86,500
27. 2019-10-18
    listed $91,500 New
28. 2015-06-05
    soldstatus $55,900
29. 2014-09-26
    historical
30. 2014-05-29
    price $68,000 Reduced
31. 2013-09-26
    listed $69,000 New

ⓘ 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: $454 · $38/mo
• Projected year-2 tax: $1,394 · $116/mo
• Expected delta: +$939/yr (+$78/mo · 206.7%)

ⓘ 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 · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,400
• − Mortgage interest: −$8,486
• − Property taxes: −$454
• − Insurance: −$758
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$4,407
• Taxable income: $510
• Est. tax owed @ 24.0%: −$122
• After-tax cash flow: $2,878/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: Meriwether County
• NCES district ID: 1303630
• Math proficiency: 18% ▼ -11.00%
• Reading proficiency: 22% ▼ -6.00%
• Median HH income: $36,287
• Composite: 16.59/100
• National rank: #9175
• State rank: #144 of 174 in GA

Livability — Manchester

• Score: 55/100
• State rank: #525
• US rank: #23555

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manchester, GA
• Population (ZIP): 4,872

Population outlook (Meriwether County) Hauer SSP2

• Today (2025): 19,554 people
• By 2030: 18,482 · -5.5%
• By 2040: 16,204 · -17.1%
• By 2050: 14,030 · -28.2%
• By 2075: 9,539 · -51.2%
• By 2100: 6,136 · -68.6%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: Black 49% White 48% Two or more races 2%
• Common ancestry: Portuguese 1% Italian 1% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Meriwether

• 2024 margin: Strong R (+25.5) · D 37.1% · R 62.6%
• 2008→2024 swing: -20.0pp toward R · 2008: -5.4pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+20.6 2016: R+15.4 2012: R+5.7 2008: R+5.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.75%
• Current HPI: 298.3716
• 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

+119.6% since first listed

15 events — show timeline

• 2026-04-09 Price Changed $151,500 GAMLS
• 2026-04-09 Price Changed $151,500 CBOR
• 2026-03-03 Relisted — GAMLS
• 2026-03-02 Relisted — CBOR
• 2026-02-18 Pending — GAMLS
• 2026-02-18 Pending — CBOR
• 2026-02-13 Listed $154,900 CBOR
• 2026-02-12 Listed $154,900 GAMLS
• 2020-01-11 Listing Removed — GAMLS
• 2019-11-08 Price Changed $86,500 GAMLS
• 2019-10-18 Listed $91,500 GAMLS
• 2015-06-05 Sold (Public Records) $55,900 Public Records
• 2014-09-26 Listing Removed — GAMLS
• 2014-05-29 Price Changed $68,000 GAMLS
• 2013-09-26 Listed $69,000 GAMLS

Property tax history

+5.2%/yr

Latest (2025): $454 · -0.8% YoY. Source: county tax records.