23 Cary St · LaGrange, GA 30241

$79,500

1 bd · 1.0 ba · 951 sqft · SingleFamily public records · 75 Days on market

Built 1909 0.31 ac lot $84/sqft · at area comps Est $83k · at est. ↓ 6% 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
• ARV discount +9.6/15.0
• 1% rule +9.4/10.0
• Rent growth +3.7/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

House just been remodeled. New carpet and paint. Move in ready.

Key facts

• 0.31 acre lot
• Built 1909
• Listed 74 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 3.4% in LaGrange — 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 60/100 on livability (#393 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D-, crime F, amenities F.
• Troup County (rural): math 26% / reading 29% proficiency, ranked #109 of 174 in GA (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.0%/yr); 269 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 474 units permitted in Troup County in 2024 (87 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $550 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Troup County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 51% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,730 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 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 1909 — 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 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. 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?
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: 1.44% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.35%
• DSCR: 1.95
• GRM: 5.8

CMA / ARV

• ARV (median comp): $83,432
• List price: $79,500
• Delta: -4.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Clara Jean Ct	0.35mi	2/2.0 (+1)	1,092 (+15%)	2mo	$125,000	$114	48
130 Clara Jean Ct	0.32mi	2/2.0 (+1)	1,092 (+15%)	4mo	$119,900	$110	48
902 Georgia Ave	0.70mi	2/1.0 (+1)	1,064 (+12%)	4mo	$73,000	$69	39

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 · 4.95% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 1.66×
• Total profit: $14,622
• Equity at exit: $11,854

10-year hold

• IRR: 25.9%
• Equity multiple: 3.47×
• Total profit: $54,967
• Equity at exit: $6,874

Cash invested: $22,260 (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 30241

• Home prices YoY: -3.6%
• Rents YoY: 5.0%
• Active inventory: 269
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,146 high
• Mortgage (P&I): −$417
• Tax from tax record: −$59 /mo · $713/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $396

Break-even live

Break-even rent $645

Max offer price $79,500

Occupancy floor 60%

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Peachtree Ct Lagrange, GA	2.0	1.0	1120	$1,050	$0.94	44d	1	0.52mi
1006 Greenville St Lagrange, GA	1.0	1.0	772	$850	$1.10	44d	1	0.53mi
300 Commerce Ave LaGrange, GA	1.0–3.0	1.0–2.0	1248	$1,337	$1.07	3d	26	0.64mi
1 Canopy Crest WAY LaGrange, GA	2.0–4.0	2.5–3.0	1442	$1,885	$1.31	3d	9	0.72mi
150 Mill Creek Pkwy LaGrange, GA	1.0–2.0	1.0–2.0	954	$1,225	$1.28	44d	11	0.81mi
621 Arthur St Unit B LaGrange, GA	1.0	1.0	600	$995	$1.66	44d	1	0.84mi
203 Front St Lagrange, GA	1.0	1.0	852	$925	$1.09	44d	1	0.89mi
151 S Davis Rd LaGrange, GA	3.0	1.0–2.0	940	$1,352	$1.44	3d	31	1.19mi
140 N Davis Rd LaGrange, GA	1.0–3.0	1.0–2.0	983	$1,199	$1.22	2d	14	1.45mi
109 Ware St Lagrange, GA	1.0	1.0	614	$925	$1.51	44d	1	1.46mi

Listing history 15 events

1. 2026-06-19
   days on market $79,500 Active 75 DOM
2. 2026-06-18
   days on market $79,500 Active 74 DOM
3. 2026-06-17
   days on market $79,500 Active 73 DOM
4. 2026-06-16
   days on market $79,500 Active 72 DOM
5. 2026-06-15
   days on market $79,500 Active 71 DOM
6. 2026-06-14
   days on market $79,500 Active 69 DOM
7. 2026-06-12
   days on market $79,500 Active 68 DOM
8. 2026-06-09
   days on market $79,500 Active 65 DOM
9. 2026-06-08
   days on market $79,500 Active 64 DOM
10. 2026-06-07
    statusdays on market $79,500 Active 63 DOM
11. 2026-06-05
    statusdays on market $79,500 Back On Market 60 DOM
12. 2026-04-20
    price $79,500 63-char remark

    Show marketing remark (63 chars)

    House just been remodeled. New carpet and paint. Move in ready.

13. 2026-03-30
    listed $84,900 New 63-char remark

    Show marketing remark (63 chars)

    House just been remodeled. New carpet and paint. Move in ready.

14. 2024-03-14
    historical $695
15. 2024-02-04
    listed $695

ⓘ 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: $713 · $59/mo
• Projected year-2 tax: $731 · $61/mo
• Expected delta: +$18/yr (+$1/mo · 2.5%)

ⓘ 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 ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 51% 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: $13,754
• − Mortgage interest: −$4,453
• − Property taxes: −$713
• − Insurance: −$398
• − Repairs & maintenance: −$1,100
• − Management: −$1,100
• − Depreciation: −$2,313
• Taxable income: $3,676
• Est. tax owed @ 24.0%: −$882
• After-tax cash flow: $3,869/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: Troup County
• NCES district ID: 1300001
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 29% ▼ -4.00%
• Median HH income: $41,354
• Composite: 23.3/100
• National rank: #7920
• State rank: #109 of 174 in GA

Livability — LaGrange

• Score: 60/100
• State rank: #393
• US rank: #19555

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: LaGrange, GA
• County: Troup County · 57,111 people
• City population: 57,111
• Metro: LaGrange, GA-AL
• Population (ZIP): 25,840
• Household income: $49,053
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1383.0

Population outlook (Troup County) Hauer SSP2

• Today (2025): 75,537 people
• By 2030: 78,250 · +3.6%
• By 2040: 83,184 · +10.1%
• By 2050: 87,167 · +15.4%
• By 2075: 95,643 · +26.6%
• By 2100: 94,234 · +24.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 46% White 46% Hispanic / Latino 3% Asian 3% Two or more races 2%
• Common ancestry: Lithuanian 1% Hispanic 1% Italian 1%
• Foreign-born: 4% · South Korea, Canada
• Languages at home: 93% English-only · Spanish 3% Korean 2% Other Indo-European 1%

Political lean MEDSL · Troup

• 2024 margin: Strong R (+24.4) · D 37.6% · R 62.0%
• 2008→2024 swing: -5.4pp toward R · 2008: -19.0pp · 2024: -24.4pp
• All cycles: 2024: R+24.4 2020: R+21.9 2016: R+23.4 2012: R+17.8 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.51%
• Current HPI: 277.9099
• Rent YoY: ▲ 4.95%
• Metro: LaGrange, GA-AL
• 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

-6.4% since first listed

4 events — show timeline

• 2026-04-20 Price Changed $79,500 GAMLS
• 2026-03-30 Listed $84,900 GAMLS
• 2024-03-14 Rental Removed $695 APPFOLIO
• 2024-02-04 Listed for Rent $695 APPFOLIO

Property tax history

+3.6%/yr

Latest (2025): $713 · +10.7% YoY. Source: county tax records.