3109 Calhoun St · Shellman, GA 39886

$85,500

3 bd · 1.0 ba · 1,824 sqft · SingleFamily public records · 128 Days on market

Built 1906 0.46 ac lot $47/sqft · at area comps Est $89k · at est. ↓ 17% 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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +9.9/10.0
• 1% rule +9.5/10.0
• ARV discount +9.0/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.6/10.0

Listing remarks MLS

Southern charm abounds in this beautifully maintained century-old home in the small town of Shellman. Relax and unwind on the spacious front porch and enjoy the timeless appeal of this well-kept property. The home features 3 bedrooms and 1 bath, two inviting sitting areas, a cozy fireplace, and a bonus room offering approximately 1824 square feet. Custom wood trim throughout the doors, windows, and moldings showcases the craftsmanship of a master wood carver. Gorgeous hardwood floors, high ceilings, and custom kitchen cabinetry add to the character. Situated on a -acre lot, the property also includes a wired workshop with an attached one-car garage and two additional storage sheds. Home to be sold AS-IS. Priced to Sell - MUST SEE

Key facts

• 0.46 acre lot
• 2 parking spots
• Built 1906

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#195 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools F, crime D-, amenities F.
• Randolph County (town): math 5% / reading 12% proficiency, ranked #171 of 174 in GA (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 9 active listings in the ZIP; 7 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($591 loan paydown + $8k appreciation (9.8% local appreciation)).
• Randolph County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.8% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 91% 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 $75,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — 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: 1.45% ✓
• Cap rate: 12.23%
• Cash-on-cash: 21.20%
• DSCR: 1.94
• GRM: 5.7

CMA / ARV

• ARV (median comp): $88,523
• List price: $85,500
• Delta: -3.41%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

9.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.8%
• Equity multiple: 4.02×
• Total profit: $72,289
• Equity at exit: $75,735

10-year hold

• IRR: 34.4%
• Equity multiple: 8.99×
• Total profit: $191,374
• Equity at exit: $161,972

Cash invested: $23,940 (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 39886

• Home prices YoY: 4.2%
• Active inventory: 9
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,240 medium
• Mortgage (P&I): −$448
• Tax from tax record: −$73 /mo · $875/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $423

Break-even live

Break-even rent $705

Max offer price $85,500

Occupancy floor 61%

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: $21,375
• Closing costs: $2,565
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $85,500 Active 128 DOM
2. 2026-06-17
   days on market $85,500 Active 127 DOM
3. 2026-06-16
   days on market $85,500 Active 126 DOM
4. 2026-06-15
   days on market $85,500 Active 125 DOM
5. 2026-06-13
   days on market $85,500 Active 123 DOM
6. 2026-06-12
   days on market $85,500 Active 122 DOM
7. 2026-06-09
   days on market $85,500 Active 119 DOM
8. 2026-06-09
   price $85,500 Active 118 DOM
9. 2026-06-08
   days on market $95,500 Active 118 DOM
10. 2026-06-07
    days on market $95,500 Active 117 DOM
11. 2026-06-07
    days on market $95,500 Active 116 DOM
12. 2026-06-04
    days on market $95,500 Active 113 DOM
13. 2026-06-02
    days on market $95,500 Active 112 DOM
14. 2026-06-01
    days on market $95,500 Active 111 DOM
15. 2026-05-31
    days on market $95,500 Active 110 DOM
16. 2026-05-31
    days on market $95,500 Active 109 DOM
17. 2026-05-08
    price $95,500 739-char remark

    Show marketing remark (739 chars)

    Southern charm abounds in this beautifully maintained century-old home in the small town of Shellman. Relax and unwind on the spacious front porch and enjoy the timeless appeal of this well-kept property. The home features 3 bedrooms and 1 bath, two inviting sitting areas, a cozy fireplace, and a bonus room offering approximately 1824 square feet. Custom wood trim throughout the doors, windows, and moldings showcases the craftsmanship of a master wood carver. Gorgeous hardwood floors, high ceilings, and custom kitchen cabinetry add to the character. Situated on a -acre lot, the property also includes a wired workshop with an attached one-car garage and two additional storage sheds. Home to be sold AS-IS. Priced to Sell - MUST SEE

18. 2026-03-30
    price $105,500 739-char remark

    Show marketing remark (739 chars)

    Southern charm abounds in this beautifully maintained century-old home in the small town of Shellman. Relax and unwind on the spacious front porch and enjoy the timeless appeal of this well-kept property. The home features 3 bedrooms and 1 bath, two inviting sitting areas, a cozy fireplace, and a bonus room offering approximately 1824 square feet. Custom wood trim throughout the doors, windows, and moldings showcases the craftsmanship of a master wood carver. Gorgeous hardwood floors, high ceilings, and custom kitchen cabinetry add to the character. Situated on a -acre lot, the property also includes a wired workshop with an attached one-car garage and two additional storage sheds. Home to be sold AS-IS. Priced to Sell - MUST SEE

19. 2025-12-18
    listed $115,500 Active 739-char remark

    Show marketing remark (739 chars)

    Southern charm abounds in this beautifully maintained century-old home in the small town of Shellman. Relax and unwind on the spacious front porch and enjoy the timeless appeal of this well-kept property. The home features 3 bedrooms and 1 bath, two inviting sitting areas, a cozy fireplace, and a bonus room offering approximately 1824 square feet. Custom wood trim throughout the doors, windows, and moldings showcases the craftsmanship of a master wood carver. Gorgeous hardwood floors, high ceilings, and custom kitchen cabinetry add to the character. Situated on a -acre lot, the property also includes a wired workshop with an attached one-car garage and two additional storage sheds. Home to be sold AS-IS. Priced to Sell - MUST SEE

ⓘ 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: $875 · $73/mo
• Projected year-2 tax: $875 · $73/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 91% 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: $14,883
• − Mortgage interest: −$4,789
• − Property taxes: −$875
• − Insurance: −$428
• − Repairs & maintenance: −$1,191
• − Management: −$1,191
• − Depreciation: −$2,487
• Taxable income: $3,923
• Est. tax owed @ 24.0%: −$942
• After-tax cash flow: $4,134/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: Randolph County
• NCES district ID: 1304350
• Math proficiency: 5% ▼ -12.00%
• Reading proficiency: 12% ▼ -5.00%
• Median HH income: $30,301
• Composite: 6.47/100
• National rank: #9995
• State rank: #171 of 174 in GA

Livability — Shellman

• Score: 66/100
• State rank: #195
• US rank: #12127

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shellman, GA
• Population (ZIP): 1,303

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 6,190 people
• By 2030: 5,711 · -7.7%
• By 2040: 4,847 · -21.7%
• By 2050: 4,215 · -31.9%
• By 2075: 3,564 · -42.4%
• By 2100: 3,357 · -45.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 52% White 40% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Scotch-Irish 2% Italian 1%
• Foreign-born: 0%

Political lean MEDSL · Randolph

• 2024 margin: Lean D (+7.6) · D 53.5% · R 45.9%
• 2008→2024 swing: -6.8pp toward R · 2008: 14.4pp · 2024: 7.6pp
• All cycles: 2024: D+7.6 2020: D+9.2 2016: D+11.3 2012: D+16.6 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.79%
• Current HPI: 241.2359
• 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

-17.3% since first listed

3 events — show timeline

• 2026-05-08 Price Changed $95,500 SWGABOR
• 2026-03-30 Price Changed $105,500 SWGABOR
• 2025-12-18 Listed $115,500 SWGABOR

Property tax history

+10.3%/yr

Latest (2025): $875 · +3.3% YoY. Source: county tax records.