179 Stone Edge Dr · Gray, GA 31032

$419,000

4 bd · 2.0 ba · 2,568 sqft · SingleFamily public records · 159 Days on market

Built 2007 3.40 ac lot $163/sqft · 12% below area Est $474k · 12% under

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Why this score? — see what drove the D- 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 +12.7/15.0
• Cash flow +7.6/30.0
• Appreciation +4.0/10.0
• Livability +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +1.7/10.0

Listing remarks MLS

Here it is! Homes in this subdivision rarely come available, and this four-sided brick beauty on over three acres is the one you've been waiting for. This custom-built home offers over 2,500 square feet of living space with three spacious bedrooms and two full bathrooms. The massive family room features hardwood floors and a stunning stone fireplace, creating the perfect gathering space. The kitchen includes solid-surface countertops, abundant cabinetry, and an island for extra workspace. The laundry room is oversized—larger than most bedrooms—and provides excellent storage and organization options. The owner's suite is generously sized and features ample closet space, a double vanity, and a jetted tub. With nearly 700 square feet of unfinished basement space and a walk-up attic, there are endless possibilities to expand your living area. All of this sits on over three acres in a sought-after community. A rare opportunity you don't want to miss!

Key facts

• Over three acres
• Four sided brick
• Abundant cabinetry

Tags

• FOUR SIDED BRICK
• OVER THREE ACRES
• MASSIVE FAMILY ROOM
• STUNNING STONE FIREPLACE
• SOLID SURFACE COUNTERTOPS
• ABUNDANT CABINETRY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $419k.

Deal economics

• At list price, monthly cash flow is $-503 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $330k (21.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (33.2% below list).
• Recommended offer: $280k (33.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#26 in GA, #3,600 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Jones County (rural): math 32% / reading 34% proficiency, ranked #72 of 174 in GA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 106 units permitted in Jones County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.9%/yr); year-one equity from $3k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Jones County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $29k; list at $419k implies a 1350% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $280,000 (33.2% 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 159 days. Have you received any prior offers? Is the seller open to a 33% 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 D-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: 0.67% ✗
• Cap rate: 4.85%
• Cash-on-cash: -5.15%
• DSCR: 0.77
• GRM: 12.5

CMA / ARV

• ARV (median comp): $473,657
• List price: $419,000
• Delta: -11.54%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
197 Stone Edge Dr	0.32mi	4/3.0	2,447 (-5%)	1mo	$497,000	$203	72
111 Stone Edge Dr	0.27mi	4/2.5	2,359 (-8%)	10mo	$449,900	$191	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.31×
• Total profit: $-80,753
• Equity at exit: $82,960

10-year hold

• IRR: -10.8%
• Equity multiple: 0.19×
• Total profit: $-94,614
• Equity at exit: $72,412

Cash invested: $117,320 (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 31032

• Home prices YoY: -0.9%
• Active inventory: 94
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$2,197
• Tax from tax record: −$343 /mo · $4,119/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $-503

Break-even live

Break-even rent $3,437

Max offer price $330,120

Occupancy floor —

Sensitivity live

Price	-10% $-266	-5% $-385	+0% $-503	+5% $-622	+10% $-740
Rent	-10% $-724	-5% $-614	+0% $-503	+5% $-393	+10% $-282
Rate	-1.0pp $-292	-0.5pp $-397	base $-503	+0.5pp $-612	+1.0pp $-722

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
179 Stone Edge Dr Gray, GA	3.0	2.0	2568	$2,800	$1.09	6d	1	0.03mi

Listing history 13 events

1. 2026-06-10
   days on market $419,000 Active 159 DOM
2. 2026-06-09
   days on market $419,000 Active 158 DOM
3. 2026-06-08
   days on market $419,000 Active 157 DOM
4. 2026-06-07
   days on market $419,000 Active 156 DOM
5. 2026-06-02
   days on market $419,000 Active 151 DOM
6. 2026-06-01
   days on market $419,000 Active 150 DOM
7. 2026-05-31
   days on market $419,000 Active 149 DOM
8. 2026-05-30
   days on market $419,000 Active 148 DOM
9. 2026-04-01
   price $419,000 971-char remark

   Show marketing remark (959 chars)

   Here it is! Homes in this subdivision rarely come available, and this four-sided brick beauty on over three acres is the one you've been waiting for. This custom-built home offers over 2,500 square feet of living space with three spacious bedrooms and two full bathrooms. The massive family room features hardwood floors and a stunning stone fireplace, creating the perfect gathering space. The kitchen includes solid-surface countertops, abundant cabinetry, and an island for extra workspace. The laundry room is oversized-larger than most bedrooms-and provides excellent storage and organization options. The owner's suite is generously sized and features ample closet space, a double vanity, and a jetted tub. With nearly 700 square feet of unfinished basement space and a walk-up attic, there are endless possibilities to expand your living area. All of this sits on over three acres in a sought-after community. A rare opportunity you don't want to miss!

10. 2026-04-01
    price $419,000 959-char remark

    Show marketing remark (959 chars)

    Here it is! Homes in this subdivision rarely come available, and this four-sided brick beauty on over three acres is the one you've been waiting for. This custom-built home offers over 2,500 square feet of living space with three spacious bedrooms and two full bathrooms. The massive family room features hardwood floors and a stunning stone fireplace, creating the perfect gathering space. The kitchen includes solid-surface countertops, abundant cabinetry, and an island for extra workspace. The laundry room is oversized-larger than most bedrooms-and provides excellent storage and organization options. The owner's suite is generously sized and features ample closet space, a double vanity, and a jetted tub. With nearly 700 square feet of unfinished basement space and a walk-up attic, there are endless possibilities to expand your living area. All of this sits on over three acres in a sought-after community. A rare opportunity you don't want to miss!

11. 2026-01-03
    listed $430,000 Active 971-char remark

    Show marketing remark (971 chars)

    Here it is! Homes in this subdivision rarely come available, and this four-sided brick beauty on over three acres is the one you've been waiting for. This custom-built home offers over 2,500 square feet of living space with three spacious bedrooms and two full bathrooms. The massive family room features hardwood floors and a stunning stone fireplace, creating the perfect gathering space. The kitchen includes solid-surface countertops, abundant cabinetry, and an island for extra workspace. The laundry room is oversized—larger than most bedrooms—and provides excellent storage and organization options. The owner's suite is generously sized and features ample closet space, a double vanity, and a jetted tub. With nearly 700 square feet of unfinished basement space and a walk-up attic, there are endless possibilities to expand your living area. All of this sits on over three acres in a sought-after community. A rare opportunity you don't want to miss!

12. 2026-01-02
    listed $430,000 New 959-char remark

    Show marketing remark (959 chars)

    Here it is! Homes in this subdivision rarely come available, and this four-sided brick beauty on over three acres is the one you've been waiting for. This custom-built home offers over 2,500 square feet of living space with three spacious bedrooms and two full bathrooms. The massive family room features hardwood floors and a stunning stone fireplace, creating the perfect gathering space. The kitchen includes solid-surface countertops, abundant cabinetry, and an island for extra workspace. The laundry room is oversized-larger than most bedrooms-and provides excellent storage and organization options. The owner's suite is generously sized and features ample closet space, a double vanity, and a jetted tub. With nearly 700 square feet of unfinished basement space and a walk-up attic, there are endless possibilities to expand your living area. All of this sits on over three acres in a sought-after community. A rare opportunity you don't want to miss!

13. 1999-04-22
    soldstatus $28,900

ⓘ 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: $4,119 · $343/mo
• Projected year-2 tax: $4,119 · $343/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 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% 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: $33,600
• − Mortgage interest: −$23,471
• − Property taxes: −$4,119
• − Insurance: −$2,095
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − Depreciation: −$12,189
• Taxable loss: −$13,650
• Est. tax savings @ 24.0%: +$3,276
• After-tax cash flow: $-2,762/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: Jones County
• NCES district ID: 1303150
• Math proficiency: 32% ▼ -8.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $51,630
• Composite: 28.84/100
• National rank: #6649
• State rank: #72 of 174 in GA

Livability — Gray

• Score: 76/100
• State rank: #26
• US rank: #3600

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,755

Population outlook (Jones County) Hauer SSP2

• Today (2025): 28,682 people
• By 2030: 28,394 · -1.0%
• By 2040: 27,246 · -5.0%
• By 2050: 25,575 · -10.8%
• By 2075: 21,857 · -23.8%
• By 2100: 17,453 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 18% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Italian 3% Romanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Jones

• 2024 margin: Solid R (+38.0) · D 30.8% · R 68.8%
• 2008→2024 swing: -12.2pp toward R · 2008: -25.8pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+33.9 2016: R+34.7 2012: R+28.7 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.92%
• Current HPI: 211.7341
• 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

+1349.8% since first listed

5 events — show timeline

• 2026-04-01 Price Changed $419,000 MGMLS
• 2026-04-01 Price Changed $419,000 GAMLS
• 2026-01-03 Listed $430,000 MGMLS
• 2026-01-02 Listed $430,000 GAMLS
• 1999-04-22 Sold (Public Records) $28,900 Public Records

Property tax history

+4.0%/yr

Latest (2025): $4,119 · +23.7% YoY. Source: county tax records.