230 Thomas Dr · Eatonton, GA 31024

$255,900

3 bd · 2.0 ba · 1,680 sqft · SingleFamily · 129 Days on market

Built 2026 Excellent condition 0.77 ac lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.8/30.0
• Condition / age +5.0/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• 1% rule +1.2/10.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to affordable LAKE LIVING!!! New build home in Lake Sinclaire neighborhood. 3 bedrooms with a spacious 4th room that could serve as a 4th bedroom/office/exercise room/den. Great layout with mudroom next to the laundry for when you come in from a day on the water! All appliances in the virtual photo renderings are INCUDED! Nice open kitchen plan with dining. Plenty of space on the lot for your water toys. Pictures are renderings of home being built. Projected completion date is May 15th. Qualifies for FHA, VA and USDA financing. Comes with a 1 year warranty! $2,000 towards closing plus a smart flat screen TV if under contract before completion.

Key facts

• Open kitchen plan
• 0.77 acre lot
• Built 2026

Tags

• LAKE SINCLAIRE NEIGHBORHOOD
• MUDROOM NEXT TO LAUNDRY
• OPEN KITCHEN PLAN

🏗️ New construction. The $255,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $339,841.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $256k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-683 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (17.6% below list).
• Recommended offer: $211k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 3.9% vs local median 2.8% in Eatonton — 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 71/100 on livability (#76 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Putnam County (rural): math 33% / reading 30% proficiency, ranked #86 of 174 in GA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Putnam County Primary School (756 students, 81% FRL); Putnam County Middle School (math 31% / reading 33%, grade F, #229 of 470 statewide, top 49%, 681 students, 81% FRL); Putnam County High School (math 8% / reading 32%, grade F, #238 of 424 statewide, top 57%, 919 students, 81% FRL).
• Market conditions: 626 active listings in the ZIP; 129 units permitted in Putnam County in 2024 (50 in 5+ unit buildings).
• This rent runs 38% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Putnam County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($225k) is reasonable based on typical stale-listing flexibility.

Recommended offer $210,801 (17.6% 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. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.62% ✗
• Cap rate: 3.88%
• Cash-on-cash: -8.62%
• DSCR: 0.62
• GRM: 13.4

CMA / ARV

• ARV (median comp): $339,841
• List price: $255,900
• Delta: -24.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 Thomas Dr	0.07mi	3/2.0	1,530 (-9%)	9mo	$269,000	$176	75
415 Thomas Dr	0.44mi	3/2.0	1,664 (-1%)	4mo	$409,000	$246	75
407 Thomas Dr	0.45mi	3/2.0	1,668 (-1%)	4mo	$406,000	$243	74
202 Thomas Dr	0.28mi	3/2.0	1,620 (-4%)	11mo	$239,900	$148	72
110 Thomas Dr	0.15mi	4/2.5 (+1)	1,568 (-7%)	6mo	$249,000	$159	70
344 Thomas Dr	0.42mi	3/2.0	1,728 (+3%)	8mo	$199,000	$115	69
350 Thomas Dr SW	0.36mi	3/2.0	1,512 (-10%)	4mo	$174,000	$115	63
140C Lakeshore Dr	0.57mi	3/2.0	1,560 (-7%)	1mo	$260,000	$167	61
275 Napier Rd	0.36mi	4/2.5 (+1)	1,568 (-7%)	6mo	$231,500	$148	60
277 Napier Rd	0.36mi	4/2.5 (+1)	1,568 (-7%)	6mo	$229,000	$146	60
132 Lakeshore Dr	0.70mi	3/2.0	1,530 (-9%)	2mo	$263,500	$172	51
247 C Lakeshore Dr	0.54mi	3/2.0	1,440 (-14%)	2mo	$515,000	$358	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -31.5%
• Equity multiple: -0.04×
• Total profit: $-98,553
• Equity at exit: $50,671

10-year hold

• IRR: -35.3%
• Equity multiple: -0.49×
• Total profit: $-141,722
• Equity at exit: $29,383

Cash invested: $95,155 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 15 active · 10 under contract
• Months of supply: 7.5 mo (13%/mo absorbed)
• Median asking: $589,500 ($342/sqft)
• Median days on market: 43 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -40.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 31024

• Active inventory: 626
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,108 medium
• Mortgage (P&I): −$1,782
• Tax est. 1.5%: −$425 /mo · $5,098/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $-683

Break-even live

Break-even rent $2,973

Max offer price $240,976

Occupancy floor —

Sensitivity live

Price	-10% $-448	-5% $-566	+0% $-683	+5% $-801	+10% $-918
Rent	-10% $-850	-5% $-767	+0% $-683	+5% $-600	+10% $-517
Rate	-1.0pp $-512	-0.5pp $-597	base $-683	+0.5pp $-771	+1.0pp $-861

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: $84,960
• Closing costs: $10,195
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Home warranty includedListing terms include Cash, Conventional, FHA, VA
• HOA & community: No HOACommunity features include lake

Exterior

• Parking: Kitchen-level parking
• Utilities: Public waterPublic sewer (connected)Electricity availableSewer availableWater available
• Home design: Single-family residenceOne levelNew constructionResidential property
• Construction: Built in 2026Vinyl sidingComposition roofCrawl space foundation
• Exterior features: Level lotLake community view

Interior

• Kitchen: Breakfast barKitchen islandDishwasherRefrigeratorStainless steel appliances
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heatingCentral airCeiling fans
• Interior features: Double vanitySplit bedroom planWalk-in closetsDen and great roomMud room laundry areaCrawl space basement
• Laundry & utility: Laundry in mud roomElectric water heater

Listing history 50 events

1. 2026-08-08
   days on market $255,900 Active 129 DOM
2. 2026-08-07
   days on market $255,900 Active 128 DOM
3. 2026-08-06
   days on market $255,900 Active 127 DOM
4. 2026-08-05
   days on market $255,900 Active 126 DOM
5. 2026-08-04
   days on market $255,900 Active 125 DOM
6. 2026-08-03
   statusdays on market $255,900 Active 124 DOM
7. 2026-07-31
   days on market $255,900 Back On Market 121 DOM
8. 2026-07-30
   statusdays on market $255,900 Back On Market 120 DOM
9. 2026-07-29
   days on market $255,900 Active Under Contract 119 DOM
10. 2026-07-27
    days on market $255,900 Active Under Contract 117 DOM
11. 2026-07-25
    days on market $255,900 Active Under Contract 115 DOM
12. 2026-07-24
    days on market $255,900 Active Under Contract 114 DOM
13. 2026-07-23
    days on market $255,900 Active Under Contract 113 DOM
14. 2026-07-22
    days on market $255,900 Active Under Contract 112 DOM
15. 2026-07-21
    days on market $255,900 Active Under Contract 111 DOM
16. 2026-07-18
    days on market $255,900 Active Under Contract 108 DOM
17. 2026-07-16
    days on market $255,900 Active Under Contract 106 DOM
18. 2026-07-16
    days on market $255,900 Active Under Contract 105 DOM
19. 2026-07-14
    days on market $255,900 Active Under Contract 104 DOM
20. 2026-07-13
    days on market $255,900 Active Under Contract 103 DOM
21. 2026-07-12
    days on market $255,900 Active Under Contract 102 DOM
22. 2026-07-11
    days on market $255,900 Active Under Contract 101 DOM
23. 2026-07-10
    days on market $255,900 Active Under Contract 100 DOM
24. 2026-07-09
    days on market $255,900 Active Under Contract 99 DOM
25. 2026-07-08
    days on market $255,900 Active Under Contract 98 DOM
26. 2026-07-07
    days on market $255,900 Active Under Contract 97 DOM
27. 2026-07-06
    days on market $255,900 Active Under Contract 96 DOM
28. 2026-07-05
    days on market $255,900 Active Under Contract 95 DOM
29. 2026-07-04
    days on market $255,900 Active Under Contract 94 DOM
30. 2026-07-03
    days on market $255,900 Active Under Contract 93 DOM
31. 2026-07-02
    days on market $255,900 Active Under Contract 92 DOM
32. 2026-07-01
    days on market $255,900 Active Under Contract 91 DOM
33. 2026-06-30
    days on market $255,900 Active Under Contract 90 DOM
34. 2026-06-29
    days on market $255,900 Active Under Contract 89 DOM
35. 2026-06-28
    days on market $255,900 Active Under Contract 88 DOM
36. 2026-06-27
    days on market $255,900 Active Under Contract 87 DOM
37. 2026-06-26
    days on market $255,900 Active Under Contract 85 DOM
38. 2026-06-22
    days on market $255,900 Active Under Contract 82 DOM
39. 2026-06-21
    days on market $255,900 Active Under Contract 81 DOM
40. 2026-06-19
    days on market $255,900 Active Under Contract 79 DOM
41. 2026-06-18
    days on market $255,900 Active Under Contract 78 DOM
42. 2026-06-17
    days on market $255,900 Active Under Contract 77 DOM
43. 2026-06-16
    days on market $255,900 Active Under Contract 76 DOM
44. 2026-06-15
    days on market $255,900 Active Under Contract 75 DOM
45. 2026-06-14
    days on market $255,900 Active Under Contract 73 DOM
46. 2026-06-12
    days on market $255,900 Active Under Contract 72 DOM
47. 2026-06-09
    days on market $255,900 Active Under Contract 69 DOM
48. 2026-06-08
    days on market $255,900 Active Under Contract 68 DOM
49. 2026-06-07
    days on market $255,900 Active Under Contract 67 DOM
50. 2026-06-05
    days on market $255,900 Active Under Contract 64 DOM

ⓘ 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: $25,296
• − Mortgage interest: −$19,036
• − Property taxes: −$5,098
• − Insurance: −$1,699
• − Repairs & maintenance: −$2,024
• − Management: −$2,024
• − Depreciation: −$9,886
• Taxable loss: −$14,471
• Est. tax savings @ 24.0%: +$3,473
• After-tax cash flow: $-4,726/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

Excellent 100/100 None rehab

This newly built home in the Lake Sinclaire neighborhood is move-in ready with a modern design and excellent condition. It offers a spacious layout, a mudroom, and a 4th room that can be used as a bedroom, office, or exercise room. The home is projected to be completed by May 15th and qualifies for FHA, VA, and USDA financing. It comes with a 1-year warranty and $2,000 towards closing plus a smart flat screen TV if under contract before completion.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Smart home integration — Improves convenience and adds modern appeal, attracting more buyers and renters. ↑
• Both Smart lighting system — Enhances energy efficiency and adds a modern touch, appealing to buyers and renters. ↑
• Both Smart thermostat — Improves energy efficiency and adds a modern touch, appealing to buyers and renters. ↑
• Both Smart security system — Enhances safety and adds a modern touch, appealing to buyers and renters. ↑

F Composite school gradezoned avg 26/100

Zoned Schools

Elementary Putnam County Primary School Middle Putnam County Middle School F GA #229/470 Nat'l #8,317/14,009 High Putnam County High School F GA #238/424 Nat'l #14,291/17,239

Schools (NCES district)

• District: Putnam County
• NCES district ID: 1304260
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $44,038
• Composite: 26.9/100
• National rank: #7088
• State rank: #86 of 174 in GA

B Composite livability gradescore 71/100

Livability — Eatonton

• Score: 71/100
• State rank: #76
• US rank: #6665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Putnam County · 20,747 people
• City population: 21,601
• Metro: nan
• Population (ZIP): 21,601
• Household income: $65,971
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 3% of renters

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Population outlook (Putnam County) Hauer SSP2

• Today (2025): 20,747 people
• By 2030: 20,163 · -2.8%
• By 2040: 18,680 · -10.0%
• By 2050: 17,117 · -17.5%
• By 2075: 13,269 · -36.0%
• By 2100: 9,234 · -55.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 5%

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Political lean MEDSL · Putnam

• 2024 margin: Solid R (+42.2) · D 28.7% · R 71.0%
• 2008→2024 swing: -10.9pp toward R · 2008: -31.4pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.9 2016: R+40.0 2012: R+35.8 2008: R+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.84%
• Current HPI: 269.8265
• Rent YoY: —
• Metro: nan
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

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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

Property features AI

Finance

• Other: Home warranty includedListing terms include Cash, Conventional, FHA, VA
• HOA & community: No HOACommunity features include lake

Exterior

• Parking: Kitchen-level parking
• Utilities: Public waterPublic sewer (connected)Electricity availableSewer availableWater available
• Home design: Single-family residenceOne levelNew constructionResidential property
• Construction: Built in 2026Vinyl sidingComposition roofCrawl space foundation
• Exterior features: Level lotLake community view

Interior

• Kitchen: Breakfast barKitchen islandDishwasherRefrigeratorStainless steel appliances
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heatingCentral airCeiling fans
• Interior features: Double vanitySplit bedroom planWalk-in closetsDen and great roomMud room laundry areaCrawl space basement
• Laundry & utility: Laundry in mud roomElectric water heater

Price history

+0.4% since first listed

3 events — show timeline

• 2026-05-14 Contingent — GAMLS
• 2026-04-30 Price Changed $255,900 GAMLS
• 2026-02-19 Listed $254,900 GAMLS