209 Denham St · Hannahs Mill, GA 30286

$115,000

3 bd · 1.5 ba · 1,132 sqft · SingleFamily public records · 76 Days on market

Built 1952 0.86 ac lot Est $204k · 44% under ↓ 26% since listing

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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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Great Investment property * * 5 Bedrooms/3 Baths * * Tenant in place and would like to continue to stay * * Current tenant would like to continue leasing from new owner * * minor TLC. Closed to shopping Center and an hour from Atlanta Airport. SOLD IN 'AS-IS' CONDITION.

Key facts

• 0.86 acre lot
• Parking
• Built 1952

Property features AI

Exterior

• Parking: Carport (1 space); Driveway parking; Open parking available
• Utilities: Public water; Public sewer; Cable available; Electricity available; Natural gas available; Phone available; Underground utilities; Water available; Sewer available
• Home design: One-level home; Frame construction; Resale condition; Slab foundation; Composition/shingle roof
• Construction: Frame construction; Slab foundation; Composition and shingle roof
• Exterior features: Private yard; Enclosed patio/porch

Interior

• Kitchen: Cabinets; Laminate counters; Electric oven; Other kitchen features
• Bedrooms: Five main-level bedrooms; Additional bedroom features: Other
• Flooring: Hardwood flooring; Laminate flooring
• Bathrooms: Three full bathrooms; Master bathroom with tub/shower combo; All three bathrooms on the main level
• Heating & cooling: Wall unit heating; Wall unit cooling
• Interior features: Other interior features; No common walls
• Laundry & utility: Dedicated laundry room

🏷️ Possibly a rental listed for sale. The $115,000 price doesn't fit this home's estimated sale value (~$203,760) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 3.4% in Hannahs Mill — 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 62/100 on livability (#307 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, amenities F, commute F.
• Thomaston-Upson County (rural): math 26% / reading 26% proficiency, ranked #123 of 174 in GA (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Upson-Lee Primary School (1,049 students, 95% FRL); Upson-Lee Middle School (math 22% / reading 32%, grade F, #271 of 470 statewide, top 60%, 927 students, 83% FRL); Upson-Lee High School (math 18% / reading 17%, grade F, #264 of 424 statewide, top 63%, 1,178 students, 70% FRL) — zoned schools average 83% FRL vs 60% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 199 active listings in the ZIP; 111 units permitted in Upson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Upson County population projected at -27% 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 $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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. 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: 1.20% ✓
• Cap rate: 10.06%
• Cash-on-cash: 13.46%
• DSCR: 1.60
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $203,760
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Salbar St	0.26mi	3/1.5	1,125 (-1%)	6mo	$190,000	$169	82
318 North St	0.24mi	2/1.0 (-1)	1,080 (-5%)	3mo	$31,000	$29	72
107 Salbar St	0.31mi	3/1.5	1,075 (-5%)	7mo	$213,000	$198	72
105 Tanglewood Dr	0.29mi	3/1.0	1,040 (-8%)	14mo	$207,000	$199	59
401 Denham St	0.27mi	4/2.0 (+1)	1,200 (+6%)	15mo	$80,000	$67	58
123 Marlon St	0.36mi	3/2.0	1,247 (+10%)	17mo	$223,900	$180	50
313 North St	0.24mi	3/2.0	968 (-14%)	20mo	$170,000	$176	46
108 Marlon St	0.38mi	3/1.5	972 (-14%)	18mo	$205,000	$211	44

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: 3.5%
• Equity multiple: 1.14×
• Total profit: $4,351
• Equity at exit: $17,147

10-year hold

• IRR: 13.0%
• Equity multiple: 2.04×
• Total profit: $33,338
• Equity at exit: $9,943

Cash invested: $32,200 (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 30286

• Home prices YoY: -14.7%
• Active inventory: 199
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,384 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$81 /mo · $973/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $361

Break-even live

Break-even rent $927

Max offer price $115,000

Occupancy floor 69%

Sensitivity live

Price	-10% $426	-5% $394	+0% $361	+5% $329	+10% $296
Rent	-10% $252	-5% $307	+0% $361	+5% $416	+10% $470
Rate	-1.0pp $419	-0.5pp $390	base $361	+0.5pp $331	+1.0pp $301

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $115,000 Active 76 DOM
2. 2026-06-18
   days on market $115,000 Active 74 DOM
3. 2026-06-17
   days on market $115,000 Active 73 DOM
4. 2026-06-16
   days on market $115,000 Active 72 DOM
5. 2026-06-15
   days on market $115,000 Active 71 DOM
6. 2026-06-13
   days on market $115,000 Active 69 DOM
7. 2026-06-12
   days on market $115,000 Active 68 DOM
8. 2026-06-09
   days on market $115,000 Active 65 DOM
9. 2026-06-08
   days on market $115,000 Active 64 DOM
10. 2026-06-07
    days on market $115,000 Active 63 DOM
11. 2026-06-07
    days on market $115,000 Active 62 DOM
12. 2026-06-04
    days on market $115,000 Active 59 DOM
13. 2026-06-02
    days on market $115,000 Active 58 DOM
14. 2026-06-01
    days on market $115,000 Active 57 DOM
15. 2026-05-31
    days on market $115,000 Active 56 DOM
16. 2026-05-31
    days on market $115,000 Active 55 DOM
17. 2026-04-05
    status Active
18. 2026-03-06
    listed $115,000 Active
19. 2025-02-28
    historical
20. 2024-11-04
    listed $249,000 Active
21. 2024-10-31
    historical
22. 2024-07-01
    listed $129,000 Active
23. 2024-06-30
    historical
24. 2024-04-01
    listed $135,000 Active
25. 2024-03-31
    historical
26. 2024-02-21
    price $145,000
27. 2024-02-13
    price $149,000
28. 2023-12-27
    listed $154,900 Active

ⓘ 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: $973 · $81/mo
• Projected year-2 tax: $1,058 · $88/mo
• Expected delta: +$85/yr (+$7/mo · 8.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,606
• − Mortgage interest: −$6,442
• − Property taxes: −$973
• − Insurance: −$575
• − Repairs & maintenance: −$1,328
• − Management: −$1,328
• − Depreciation: −$3,345
• Taxable income: $2,614
• Est. tax owed @ 24.0%: −$627
• After-tax cash flow: $3,707/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: Thomaston-Upson County
• NCES district ID: 1305280
• Math proficiency: 26% ▼ -14.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $34,757
• Composite: 21.44/100
• National rank: #8338
• State rank: #123 of 174 in GA

Livability — Hannahs Mill

• Score: 62/100
• State rank: #307
• US rank: #16712

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hannahs Mill, GA
• Population (ZIP): 24,616

Population outlook (Upson County) Hauer SSP2

• Today (2025): 24,396 people
• By 2030: 23,158 · -5.1%
• By 2040: 20,522 · -15.9%
• By 2050: 17,828 · -26.9%
• By 2075: 12,216 · -49.9%
• By 2100: 7,779 · -68.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Black 27% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Italian 1% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Upson

• 2024 margin: Solid R (+39.7) · D 30.0% · R 69.7%
• 2008→2024 swing: -11.5pp toward R · 2008: -28.3pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+34.1 2016: R+35.0 2012: R+29.1 2008: R+28.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.56%
• Current HPI: 316.6771
• 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

-25.8% since first listed

12 events — show timeline

• 2026-04-05 Relisted — FMLS
• 2026-03-06 Listed $115,000 FMLS
• 2025-02-28 Listing Removed — FMLS
• 2024-11-04 Listed $249,000 FMLS
• 2024-10-31 Listing Removed — FMLS
• 2024-07-01 Listed $129,000 FMLS
• 2024-06-30 Listing Removed — FMLS
• 2024-04-01 Listed $135,000 FMLS
• 2024-03-31 Listing Removed — FMLS
• 2024-02-21 Price Changed $145,000 FMLS
• 2024-02-13 Price Changed $149,000 FMLS
• 2023-12-27 Listed $154,900 FMLS

Property tax history

+2.9%/yr

Latest (2025): $973 · +12.2% YoY. Source: county tax records.