92 Morrison Way Way SE · Ludowici, GA 31316

$324,900

4 bd · 2.5 ba · 2,318 sqft · SingleFamily public records · 57 Days on market

Built 2021 Good condition 9,583 sqft lot $140/sqft · 7% above area Est $304k · 7% over

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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).

• Cash flow +12.5/30.0
• Appreciation +5.6/10.0
• ARV discount +4.3/15.0
• Condition / age +4.0/5.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Welcome to this exceptional William II plan by Dryden Homes, perfectly positioned on a desirable corner lot in Johnston Station. This beautifully maintained 4-bedroom home offers a striking two-story foyer and a versatile layout with both formal living and dining spaces, with the dining room featuring elegant wainscoting and crown molding. The main living area flows effortlessly into the open kitchen, complete with granite countertops, white shaker cabinetry, stainless steel appliances, and a functional island overlooking the family room with a cozy fireplace. Luxury vinyl plank flooring runs throughout the main living areas, adding both style and durability. Upstairs, you'll find generousl

Key facts

• Two-story foyer
• Granite countertops
• Corner lot

Tags

• CORNER LOT
• TWO-STORY FOYER
• DINING ROOM WAINSCOTING
• DINING ROOM CROWN MOLDING
• OPEN KITCHEN
• GRANITE COUNTERTOPS

Property features AI

Finance

• HOA & community: Community has sidewalks

Exterior

• Parking: Two total parking spaces; Two covered spaces; Two-car garage with garage door opener; Driveway
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two-story home; Residential property
• Construction: Brick, vinyl siding, frame and wood siding construction; Slab foundation
• Exterior features: Privacy fencing; Shingle roof; Corner lot; Paved road frontage on a city street; Sidewalks; Has a view; Insulation (energy efficient)

Interior

• Kitchen: Dishwasher; Electric oven; Microwave; Refrigerator; Electric water heater
• Bedrooms: Total rooms: 12 (includes bedrooms and other rooms)
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Crown molding; Entrance foyer; Kitchen island; Pantry; Recessed lighting; Double-pane windows; Unfurnished; Fireplace in family room
• Laundry & utility: Irrigation equipment

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $325k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-50 ($-596/yr) — negative.
• To cash-flow at today's rent, offer at most $316k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (19.7% below list).
• Recommended offer: $261k (19.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#74 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: employment D, amenities F, commute F.
• Long County (rural): math 26% / reading 26% proficiency, ranked #115 of 174 in GA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Smiley Elementary School (1,258 students, 67% FRL); Long County Middle School (math 21% / reading 27%, grade F, #311 of 470 statewide, top 68%, 945 students, 69% FRL); Long County High School (math 37% / reading 22%, grade F, #140 of 424 statewide, top 35%, 1,209 students, 70% FRL).
• Market conditions: 412 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 298 units permitted in Long County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $6k of equity ($2k loan paydown + $4k appreciation (1.2% local appreciation)).
• Long County population projected at +72% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~10 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 4 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 $255k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $260,862 (19.7% 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 57 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.80% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• GRM: 10.4

CMA / ARV

• ARV (median comp): $303,626
• List price: $324,900
• Delta: 7.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
299 Archibald Ave SE	0.19mi	4/2.5	2,319 (0%)	11mo	$317,000	$137	82
3703 Old Macon Darien Rd SE	0.38mi	4/2.5	2,321 (+0%)	2mo	$300,000	$129	80
54 Allen Rawls Way SE	0.09mi	4/3.5	2,104 (-9%)	12mo	$300,000	$143	66
286 SE Archibald Ave SE	0.22mi	4/2.5	2,522 (+9%)	15mo	$317,000	$126	63
232 Archibald Ave SE	0.15mi	4/2.5	2,080 (-10%)	16mo	$296,000	$142	63
792 South Macon St	0.59mi	4/3.0	2,388 (+3%)	5mo	$351,915	$147	61
12 Rimes Ave SE	0.17mi	4/2.5	1,997 (-14%)	10mo	$297,000	$149	60
24 Anna Way Way SE	0.12mi	4/2.5	1,983 (-14%)	14mo	$282,900	$143	59
755 S Macon St	0.63mi	4/2.5	2,064 (-11%)	5mo	$314,000	$152	48
761 S Macon St	0.62mi	4/2.5	2,184 (-6%)	16mo	$325,000	$149	48
185 SE Rimes Ave	0.24mi	5/3.0 (+1)	2,638 (+14%)	14mo	$330,000	$125	47
1568 Buster Phillips Rd SE	0.54mi	4/3.0	2,632 (+14%)	15mo	$405,000	$154	38

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

Projected returns pro-forma

1.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.06×
• Total profit: $5,397
• Equity at exit: $113,604

10-year hold

• IRR: 5.7%
• Equity multiple: 1.71×
• Total profit: $64,595
• Equity at exit: $153,070

Cash invested: $90,972 (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 31316

• Home prices YoY: 0.6%
• Active inventory: 412
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,609 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$271 /mo · $3,255/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $-50

Break-even live

Break-even rent $2,671

Max offer price $316,129

Occupancy floor 97%

Sensitivity live

Price	-10% $134	-5% $42	+0% $-50	+5% $-142	+10% $-234
Rent	-10% $-256	-5% $-153	+0% $-50	+5% $53	+10% $156
Rate	-1.0pp $114	-0.5pp $33	base $-50	+0.5pp $-134	+1.0pp $-219

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
53 Allen Rawls Way SE Ludowici, GA	5.0	3.0	2410	$2,650	$1.10	46d	1	0.11mi
147 Rimes Ave SE Ludowici, GA	4.0	2.0	1782	$2,100	$1.18	46d	1	0.20mi
149 W Franklin St Ludowici, GA	3.0	2.5	1704	$2,250	$1.32	46d	1	0.49mi
171 Baker Field Ln SE Ludowici, GA	4.0	2.0	1807	$2,350	$1.30	46d	1	0.89mi

Listing history 27 events

1. 2026-06-21
   days on market $324,900 Active 57 DOM
2. 2026-06-19
   days on market $324,900 Active 55 DOM
3. 2026-06-18
   days on market $324,900 Active 54 DOM
4. 2026-06-17
   days on market $324,900 Active 53 DOM
5. 2026-06-16
   days on market $324,900 Active 52 DOM
6. 2026-06-15
   days on market $324,900 Active 51 DOM
7. 2026-06-14
   days on market $324,900 Active 49 DOM
8. 2026-06-13
   days on market $324,900 Active 48 DOM
9. 2026-06-10
   days on market $324,900 Active 46 DOM
10. 2026-06-09
    days on market $324,900 Active 45 DOM
11. 2026-06-08
    days on market $324,900 Active 44 DOM
12. 2026-06-07
    days on market $324,900 Active 43 DOM
13. 2026-06-05
    days on market $324,900 Active 40 DOM
14. 2026-06-03
    days on market $324,900 Active 39 DOM
15. 2026-06-02
    days on market $324,900 Active 38 DOM
16. 2026-06-01
    days on market $324,900 Active 37 DOM
17. 2026-05-31
    days on market $324,900 Active 36 DOM
18. 2026-05-30
    days on market $324,900 Active 35 DOM
19. 2026-04-25
    listed $334,900 Active 1125-char remark
20. 2026-04-16
    historical
21. 2026-04-01
    price $334,900
22. 2026-03-26
    price $334,900
23. 2026-03-12
    listed $339,900 Active
24. 2021-12-29
    soldstatus $255,000
25. 2021-12-29
    soldstatus $255,000
26. 2021-05-12
    listed $251,100
27. 2021-05-12
    listed $251,100

ⓘ 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: $3,255 · $271/mo
• Projected year-2 tax: $3,255 · $271/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 ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,303
• − Mortgage interest: −$18,199
• − Property taxes: −$3,255
• − Insurance: −$1,624
• − Repairs & maintenance: −$2,504
• − Management: −$2,504
• − Depreciation: −$9,452
• Taxable loss: −$6,236
• Est. tax savings @ 24.0%: +$1,497
• After-tax cash flow: $901/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

Good 80/100 Cosmetic rehab

This well-maintained, move-in-ready home in Johnston Station offers a good condition with potential for minor updates to enhance its resale and rental value.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet with hardwood or tile — Improves aesthetics and is easier to clean
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood or tile — Improves aesthetics and is easier to clean ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Long County
• NCES district ID: 1303360
• Math proficiency: 26% ▼ -14.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $45,958
• Composite: 22.51/100
• National rank: #8090
• State rank: #115 of 174 in GA

Livability — Ludowici

• Score: 72/100
• State rank: #74
• US rank: #6449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ludowici, GA
• County: Long County · 13,812 people
• City population: 13,812
• Metro: Hinesville, GA
• Population (ZIP): 13,812
• Household income: $74,766
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 109.0

Population outlook (Long County) Hauer SSP2

• Today (2025): 24,669 people
• By 2030: 28,223 · +14.4%
• By 2040: 35,430 · +43.6%
• By 2050: 42,403 · +71.9%
• By 2075: 56,996 · +131.0%
• By 2100: 64,185 · +160.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 61% Black 23% Hispanic / Latino 8% Two or more races 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5%
• Common ancestry: Serbian 1% Italian 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Long

• 2024 margin: Strong R (+29.5) · D 35.1% · R 64.6%
• 2008→2024 swing: -5.4pp toward R · 2008: -24.1pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+26.4 2016: R+30.8 2012: R+22.9 2008: R+24.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.16%
• Current HPI: 195.2978
• Rent YoY: —
• Metro: Hinesville, 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

+29.4% since first listed

10 events — show timeline

• 2026-05-19 Price Changed $324,900 HABR
• 2026-04-25 Listed $334,900 HABR
• 2026-04-16 Listing Removed — Hive MLS
• 2026-04-01 Price Changed $334,900 HABR
• 2026-03-26 Price Changed $334,900 Hive MLS
• 2026-03-12 Listed $339,900 Hive MLS
• 2021-12-29 Sold (MLS) $255,000 HABR
• 2021-12-29 Sold (MLS) $255,000 Hive MLS
• 2021-05-12 Listed $251,100 HABR
• 2021-05-12 Listed $251,100 Hive MLS

Property tax history

+18.7%/yr

Latest (2025): $3,255 · -2.8% YoY. Source: county tax records.