230 Thomas Dr · Eatonton, GA 31024

$249,900

3 bd · 2.0 ba · 1,680 sqft · SingleFamily · 92 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).

• Cash flow +8.1/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

$2500 towards closing costs or buy down if closed by October 30th! FALL is THE BEST TIME AT THE LAKE!!! Finished and ready to MOVE IN to your lake lifestyle at Lake Sinclaire. Look at the lake from your front door every morning, New build home in beautiful 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 are INCUDED! Nice open kitchen plan with dining. Plenty of space on the lot for your water toys. Qualifies for FHA, VA and USDA financing. Comes with a 1 year warranty! * Some photos virtually staged.

Key facts

• Great layout
• New build home
• Open kitchen plan

Tags

• NEW BUILD HOME
• SPACIOUS ROOM
• GREAT LAYOUT
• MUDROOM NEXT TO LAUNDRY
• OPEN KITCHEN PLAN
• PLENTY OF SPACE ON THE LOT

🏗️ New construction. The $249,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $326,318.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-325 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (2.2% below list).
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.1% vs local median 3.3% 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: 849 active listings in the ZIP; 129 units permitted in Putnam County in 2024 (50 in 5+ unit buildings).
• This rent runs 44% 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 92 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $227,409 (9.0% 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 92 days. Have you received any prior offers? Is the seller open to a 9% 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: 0.75% ✗
• Cap rate: 5.10%
• Cash-on-cash: -4.26%
• DSCR: 0.81
• GRM: 11.1

CMA / ARV

• ARV (median comp): $326,318
• List price: $249,900
• Delta: -23.42%
• 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
292 Thomas Dr	0.42mi	3/2.0	1,680 (0%)	0mo	$259,000	$154	80
415 Thomas Dr	0.44mi	3/2.0	1,664 (-1%)	7mo	$409,000	$246	72
407 Thomas Dr	0.45mi	3/2.0	1,668 (-1%)	7mo	$406,000	$243	72
231 Thomas Dr	0.36mi	3/2.5	1,800 (+7%)	1mo	$699,999	$389	68
110 Thomas Dr	0.15mi	4/2.5 (+1)	1,568 (-7%)	9mo	$249,000	$159	67
350 Thomas Dr SW	0.36mi	3/2.0	1,512 (-10%)	7mo	$174,000	$115	61
301 Thomas Dr	0.47mi	3/2.0	1,856 (+10%)	0mo	$560,000	$302	60
140C Lakeshore Dr	0.57mi	3/2.0	1,560 (-7%)	4mo	$260,000	$167	58
275 Napier Rd	0.36mi	4/2.5 (+1)	1,568 (-7%)	9mo	$231,500	$148	58
277 Napier Rd	0.36mi	4/2.5 (+1)	1,568 (-7%)	10mo	$229,000	$146	57
132 Lakeshore Dr	0.70mi	3/2.0	1,530 (-9%)	5mo	$263,500	$172	48
247 C Lakeshore Dr	0.54mi	3/2.0	1,440 (-14%)	4mo	$515,000	$358	47

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: -23.5%
• Equity multiple: 0.20×
• Total profit: $-73,514
• Equity at exit: $48,655

10-year hold

• IRR: -18.3%
• Equity multiple: 0.01×
• Total profit: $-90,484
• Equity at exit: $28,214

Cash invested: $91,369 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 15 active · 17 under contract
• Months of supply: 5.3 mo (19%/mo absorbed)
• Median asking: $539,000 ($342/sqft)
• Median days on market: 101 d
• This list price: 13% of active listings are priced below it
• ARV vs active asking: -43.2% 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: 849
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,444 medium
• Mortgage (P&I): −$1,711
• Tax est. 1.5%: −$408 /mo · $4,895/yr
• Insurance: −$136
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $-325

Break-even live

Break-even rent $2,855

Max offer price $279,350

Occupancy floor —

Sensitivity live

Price	-10% $-99	-5% $-212	+0% $-325	+5% $-437	+10% $-550
Rent	-10% $-518	-5% $-421	+0% $-325	+5% $-228	+10% $-132
Rate	-1.0pp $-160	-0.5pp $-242	base $-325	+0.5pp $-409	+1.0pp $-495

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: $81,579
• Closing costs: $9,790
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: New construction with home warrantyListing terms: Cash, Conventional, FHA, VA Loan
• HOA & community: No homeowners associationCommunity features include lake access

Exterior

• Parking: 4 parking spacesKitchen-level parking feature
• Utilities: Public waterPublic sewer (connected)Electricity availableSewer and water availableAppliances and windows noted as green energy efficient
• Home design: Single-family residenceOne storyNew construction (2026)Not attached
• Construction: Vinyl sidingComposition roofBlock foundationBuilt in 2026
• Exterior features: DeckPartially wooded lotLevel lotLake view (Lake Sinclaire)Lake community

Interior

• Kitchen: Kitchen with breakfast bar and islandDishwasherRefrigeratorStainless steel appliancesElectric water heater
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating (electric, heat pump)Central air conditioning (electric, heat pump)Ceiling fan(s)
• Interior features: Double vanitySplit bedroom planWalk-in closet(s)DenGreat roomMud room
• Laundry & utility: Laundry area (mud room)

Listing history 50 events

1. 2026-11-08
   days on market $249,900 Active 92 DOM
2. 2026-11-07
   days on market $249,900 Active 91 DOM
3. 2026-11-06
   days on market $249,900 Active 90 DOM
4. 2026-11-05
   days on market $249,900 Active 89 DOM
5. 2026-11-04
   days on market $249,900 Active 88 DOM
6. 2026-11-02
   days on market $249,900 Active 86 DOM
7. 2026-11-01
   days on market $249,900 Active 85 DOM
8. 2026-10-31
   days on market $249,900 Active 84 DOM
9. 2026-10-30
   days on market $249,900 Active 83 DOM
10. 2026-10-29
    days on market $249,900 Active 82 DOM
11. 2026-10-28
    days on market $249,900 Active 81 DOM
12. 2026-10-27
    days on market $249,900 Active 80 DOM
13. 2026-10-26
    days on market $249,900 Active 79 DOM
14. 2026-10-25
    days on market $249,900 Active 78 DOM
15. 2026-10-24
    days on market $249,900 Active 77 DOM
16. 2026-10-23
    days on market $249,900 Active 76 DOM
17. 2026-10-22
    days on market $249,900 Active 75 DOM
18. 2026-10-22
    days on market $249,900 Active 74 DOM
19. 2026-10-20
    days on market $249,900 Active 73 DOM
20. 2026-10-19
    days on market $249,900 Active 72 DOM
21. 2026-10-18
    days on market $249,900 Active 71 DOM
22. 2026-10-17
    days on market $249,900 Active 70 DOM
23. 2026-10-16
    days on market $249,900 Active 69 DOM
24. 2026-10-15
    days on market $249,900 Active 68 DOM
25. 2026-10-14
    days on market $249,900 Active 67 DOM
26. 2026-10-13
    days on market $249,900 Active 66 DOM
27. 2026-10-12
    days on market $249,900 Active 65 DOM
28. 2026-10-11
    days on market $249,900 Active 64 DOM
29. 2026-10-10
    days on market $249,900 Active 63 DOM
30. 2026-10-09
    days on market $249,900 Active 62 DOM
31. 2026-10-08
    days on market $249,900 Active 61 DOM
32. 2026-10-07
    days on market $249,900 Active 60 DOM
33. 2026-10-06
    days on market $249,900 Active 59 DOM
34. 2026-10-05
    statusdays on market $249,900 Active 58 DOM
35. 2026-10-04
    days on market $249,900 Back On Market 57 DOM
36. 2026-10-04
    days on market $249,900 Back On Market 56 DOM
37. 2026-10-03
    status $249,900 Back On Market 55 DOM
38. 2026-10-02
    days on market $249,900 Active Under Contract 55 DOM
39. 2026-10-01
    days on market $249,900 Active Under Contract 54 DOM
40. 2026-09-30
    days on market $249,900 Active Under Contract 53 DOM
41. 2026-09-29
    status $249,900 Active Under Contract 52 DOM
42. 2026-09-29
    days on market $249,900 Active 52 DOM
43. 2026-09-28
    days on market $249,900 Active 51 DOM
44. 2026-09-27
    days on market $249,900 Active 50 DOM
45. 2026-09-26
    days on market $249,900 Active 49 DOM
46. 2026-09-25
    days on market $249,900 Active 48 DOM
47. 2026-09-24
    days on market $249,900 Active 47 DOM
48. 2026-09-23
    days on market $249,900 Active 46 DOM
49. 2026-09-21
    days on market $249,900 Active 44 DOM
50. 2026-09-20
    days on market $249,900 Active 43 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: $29,324
• − Mortgage interest: −$18,279
• − Property taxes: −$4,895
• − Insurance: −$1,632
• − Repairs & maintenance: −$2,346
• − Management: −$2,346
• − Depreciation: −$9,493
• Taxable loss: −$9,666
• Est. tax savings @ 24.0%: +$2,320
• After-tax cash flow: $-1,575/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%
• 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: New construction with home warrantyListing terms: Cash, Conventional, FHA, VA Loan
• HOA & community: No homeowners associationCommunity features include lake access

Exterior

• Parking: 4 parking spacesKitchen-level parking feature
• Utilities: Public waterPublic sewer (connected)Electricity availableSewer and water availableAppliances and windows noted as green energy efficient
• Home design: Single-family residenceOne storyNew construction (2026)Not attached
• Construction: Vinyl sidingComposition roofBlock foundationBuilt in 2026
• Exterior features: DeckPartially wooded lotLevel lotLake view (Lake Sinclaire)Lake community

Interior

• Kitchen: Kitchen with breakfast bar and islandDishwasherRefrigeratorStainless steel appliancesElectric water heater
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating (electric, heat pump)Central air conditioning (electric, heat pump)Ceiling fan(s)
• Interior features: Double vanitySplit bedroom planWalk-in closet(s)DenGreat roomMud room
• Laundry & utility: Laundry area (mud room)

Price history

+0.0% since first listed

6 events — show timeline

• 2026-08-08 Listing Removed — GAMLS
• 2026-08-08 Listed $254,900 GAMLS
• 2026-07-30 Relisted — GAMLS
• 2026-05-14 Contingent — GAMLS
• 2026-04-30 Price Changed $255,900 GAMLS
• 2026-02-19 Listed $254,900 GAMLS