117 Lake Dr · Griffin, GA 30223

$96,611

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 13 Days on market

Built 1961 0.30 ac lot $110/sqft · at area comps Est $99k · at est. ↓ 2% since listing

---

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 +25.5/30.0
• DSCR +8.4/10.0
• ARV discount +8.4/15.0
• 1% rule +6.1/10.0
• Rent growth +3.3/5.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Adorable ranch home near beautiful lake. Lovely 3 bedroom 1 bath home that could make the perfect rental property. One level living space to enjoy cookouts in the backyard with family. This well maintain home with plenty of living space waiting just for you. Owner has an active real estate license in the state of Georgia.

Key facts

• Ranch home
• Backyard
• One level living

Tags

• RANCH HOME
• ONE LEVEL LIVING
• BACKYARD

Property features AI

Finance

• HOA & community: Community features include a lake and street lights

Exterior

• Parking: On-street parking; Open parking available
• Utilities: Public water; Public sewer; 220 volt electric service; Cable available; Electricity available; Natural gas available; Phone service available
• Home design: Single-story (one level); Fee simple ownership; Resale property
• Construction: Vinyl siding; Composition roof; Block and slab foundation; Built with typical resale construction materials
• Exterior features: Back yard and front yard fencing; Concrete road frontage; City street frontage; Lake access within the community; Street lights in the community

Interior

• Kitchen: Eat-in kitchen; Solid surface counters; Dishwasher; Electric oven; Refrigerator
• Bedrooms: Three bedrooms on the main level; Master bedroom on the main level
• Flooring: Hardwood; Laminate
• Bathrooms: One full bathroom (on main level)
• Heating & cooling: Central heating; Central air
• Interior features: High-speed internet; No one above (no shared overhead walls)
• Laundry & utility: Mud room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $97k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Cap rate 9.1% vs local median 4.3% in Griffin — 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 54/100 on livability (#529 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Griffin-Spalding County (suburban): math 13% / reading 19% proficiency, ranked #151 of 174 in GA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.3%/yr); 441 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 342 units permitted in Spalding County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $668 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Spalding County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 5y 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 $84k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 34% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,611

Questions for the listing agent

1. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.98%
• DSCR: 1.44
• GRM: 7.5

CMA / ARV

• ARV (median comp): $98,563
• List price: $96,611
• Delta: -1.98%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1309 Ridgeview Dr	0.61mi	3/1.0 (+1)	840 (-4%)	15mo	$67,000	$80	46
402 Springview Dr	0.57mi	3/1.0 (+1)	840 (-4%)	21mo	$102,000	$121	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 · 3.34% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-965
• Equity at exit: $14,405

10-year hold

• IRR: 9.1%
• Equity multiple: 1.71×
• Total profit: $19,084
• Equity at exit: $8,353

Cash invested: $27,051 (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 30223

• Rents YoY: 3.3%
• Active inventory: 441
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,070 high
• Mortgage (P&I): −$507
• Tax from tax record: −$73 /mo · $880/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $225

Break-even live

Break-even rent $785

Max offer price $96,611

Occupancy floor 74%

Sensitivity live

Price	-10% $280	-5% $252	+0% $225	+5% $198	+10% $170
Rent	-10% $141	-5% $183	+0% $225	+5% $267	+10% $310
Rate	-1.0pp $274	-0.5pp $250	base $225	+0.5pp $200	+1.0pp $175

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: $24,153
• Closing costs: $2,898
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1313 Ridgeview Dr Griffin, GA	3.0	1.0	840	$1,050	$1.25	25d	1	0.59mi
214 Kentucky Ave Unit D Griffin, GA	2.0	1.0	700	$1,050	$1.50	6d	1	0.97mi
117 Blanton Ave Unit A Griffin, GA	2.0	1.0	718	$975	$1.36	25d	1	1.06mi
816 Lane St Griffin, GA	3.0	2.0	1120	$1,300	$1.16	45d	1	1.06mi
804 N 8th St Griffin, GA	2.0	1.0	600	$750	$1.25	2d	30	1.09mi
212 Alabama St Griffin, GA	2.0	1.0	728	$995	$1.37	45d	1	1.23mi
620 Dobbins Mill Rd Unit 620 Griffin, GA	2.0	1.0	885	$975	$1.10	45d	1	1.34mi
205 W Cherry St Griffin, GA	2.0	1.0	972	$950	$0.98	4d	1	1.41mi
428 Circus St Unit A Griffin, GA	1.0	1.0	590	$1,050	$1.78	0d	1	1.42mi
519 W Cherry St Griffin, GA	2.0	1.0	864	$1,100	$1.27	0d	1	1.49mi

Listing history 38 events

1. 2026-06-10
   days on market $96,611 Active 13 DOM
2. 2026-06-07
   days on market $96,611 Active 12 DOM
3. 2026-06-04
   days on market $96,611 Active 9 DOM
4. 2026-06-03
   days on market $96,611 Active 8 DOM
5. 2026-06-02
   days on market $96,611 Active 7 DOM
6. 2026-06-02
   remarks 323-char remark
7. 2026-06-02
   statusdays on marketlisting id $96,611 Active 6 DOM
8. 2026-06-01
   days on market $96,611 New 9 DOM
9. 2026-05-31
   days on market $96,611 New 8 DOM
10. 2026-04-27
    listed $96,611 Active 1024-char remark
11. 2026-04-22
    price $96,611 1496-char remark
12. 2026-04-11
    price $99,611 1496-char remark
13. 2026-04-11
    status Back On Market 1496-char remark
14. 2026-04-10
    historical Active Under Contract 1496-char remark
15. 2026-04-07
    status Under Contract 1496-char remark
16. 2026-03-31
    price $103,611 1496-char remark
17. 2026-03-31
    price $109,611 1496-char remark
18. 2026-03-20
    status Price Change 1496-char remark
19. 2026-03-20
    price $115,611 1496-char remark
20. 2026-03-13
    status Under Contract 1496-char remark
21. 2026-02-28
    listed $111,611 New 1496-char remark
22. 2026-02-27
    historical $111,611 1496-char remark
23. 2026-02-21
    historical
24. 2026-02-17
    price $127,999
25. 2026-01-30
    listed $141,999 New
26. 2026-01-27
    historical
27. 2022-02-14
    soldstatus $84,000
28. 2022-02-07
    soldstatus $84,000 Sold
29. 2022-01-15
    status Under Contract
30. 2022-01-12
    listed $85,000 New
31. 2021-11-02
    historical
32. 2021-09-08
    price $75,000
33. 2021-07-18
    price $80,000
34. 2021-07-14
    status Back on Market
35. 2021-07-12
    status Under Contract
36. 2021-06-29
    price $85,000
37. 2021-06-21
    price $89,000
38. 2021-06-12
    listed $99,000 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: $880 · $73/mo
• Projected year-2 tax: $889 · $74/mo
• Expected delta: +$8/yr (+$1/mo · 0.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 34% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,841
• − Mortgage interest: −$5,412
• − Property taxes: −$880
• − Insurance: −$483
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − Depreciation: −$2,811
• Taxable income: $1,200
• Est. tax owed @ 24.0%: −$288
• After-tax cash flow: $2,413/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: Griffin-Spalding County
• NCES district ID: 1302520
• Math proficiency: 13% ▼ -13.00%
• Reading proficiency: 19% ▼ -12.00%
• Median HH income: $40,895
• Composite: 13.71/100
• National rank: #9496
• State rank: #151 of 174 in GA

Livability — Griffin

• Score: 54/100
• State rank: #529
• US rank: #23746

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Griffin, GA
• County: Spalding County · 66,676 people
• City population: 28,414
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 38,262
• Household income: $59,054
• Rent vs Own: 39.5% rent · 60.5% own
• Severe rent burden: 1297.0

Population outlook (Spalding County) Hauer SSP2

• Today (2025): 63,015 people
• By 2030: 61,689 · -2.1%
• By 2040: 57,932 · -8.1%
• By 2050: 53,474 · -15.1%
• By 2075: 43,228 · -31.4%
• By 2100: 32,290 · -48.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 50% Black 38% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 6% Korean 1%

Political lean MEDSL · Spalding

• 2024 margin: R (+16.7) · D 41.4% · R 58.1%
• 2008→2024 swing: +2.1pp toward D · 2008: -18.8pp · 2024: -16.7pp
• All cycles: 2024: R+16.7 2020: R+20.8 2016: R+24.2 2012: R+20.0 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.92%
• Current HPI: 225.7933
• Rent YoY: ▲ 3.34%
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• 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

-2.4% since first listed

31 events — show timeline

• 2026-06-01 Listing Removed — GAMLS
• 2026-05-22 Listed $96,611 GAMLS
• 2026-05-21 Listing Removed — GAMLS
• 2026-04-22 Price Changed $96,611 GAMLS
• 2026-04-11 Price Changed $99,611 GAMLS
• 2026-04-11 Relisted — GAMLS
• 2026-04-10 Contingent — GAMLS
• 2026-04-07 Pending — GAMLS
• 2026-03-31 Price Changed $103,611 GAMLS
• 2026-03-31 Price Changed $109,611 GAMLS
• 2026-03-20 Relisted — GAMLS
• 2026-03-20 Price Changed $115,611 GAMLS
• 2026-03-13 Pending — GAMLS
• 2026-02-28 Listed $111,611 GAMLS
• 2026-02-27 Coming Soon — GAMLS
• 2026-02-21 Listing Removed — GAMLS
• 2026-02-17 Price Changed $127,999 GAMLS
• 2026-01-30 Listed $141,999 GAMLS
• 2026-01-27 Coming Soon — GAMLS
• 2022-02-14 Sold (Public Records) $84,000 Public Records
• 2022-02-07 Sold (MLS) $84,000 GAMLS
• 2022-01-15 Pending — GAMLS
• 2022-01-12 Listed $85,000 GAMLS
• 2021-11-02 Listing Removed — GAMLS
• 2021-09-08 Price Changed $75,000 GAMLS
• 2021-07-18 Price Changed $80,000 GAMLS
• 2021-07-14 Relisted — GAMLS
• 2021-07-12 Pending — GAMLS
• 2021-06-29 Price Changed $85,000 GAMLS
• 2021-06-21 Price Changed $89,000 GAMLS
• 2021-06-12 Listed $99,000 GAMLS

Property tax history

+2.6%/yr

Latest (2025): $880 · -2.2% YoY. Source: county tax records.