130 Hankins Rd · Rock Spring, GA 30739

$196,000

3 bd · 1.5 ba · 1,680 sqft · Manufactured public records · 63 Days on market

Built 1986 1.10 ac lot $117/sqft · 24% below area Est $256k · 24% under ↓ 7% since listing

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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 +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +1.7/10.0

Listing remarks MLS

Have you ever noticed how difficult it is to find an established home on significant acreage that hasn't already been subdivided? This 3-bedroom, 1.5-bathroom Rock Spring residence offers a true 4.41-acre retreat, providing the kind of privacy and "elbow room" that is nearly impossible to find at this price point. We believe in being disarmingly upfront about the property: while the home is currently occupied and reflects the natural clutter of a busy household, we invite you to look past the personal belongings to see a highly functional floor plan featuring a spacious kitchen, a dedicated dining area, and a large master suite. The value here is in the established "bones" of the property. This 1986-built home features a roof approximately 10 years old (installed 2014) and an HVAC system also approximately 10 years old. While these systems are established, the home is move-in ready and serves as a clean "blank canvas" for your creative vision. We’ve priced the property specifically to allow for standard cosmetic homeowner updates, providing a clear path to building immediate equity in a massive, private estate. With over four acres of freedom, the possibilities for a mini-farm, workshop, or simply enjoying the quiet Georgia evenings are endless. If you’ve been searching for a solid home and enough land to actually call your own, does it make sense to come take a look this week and see the potential for yourself?

Key facts

• 1.1 acre lot
• Built 1986
• Listed 62 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $196k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (8.6% below list).
• Recommended offer: $179k (8.6% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 3.6% in Rock Spring — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Walker County (rural): math 25% / reading 29% proficiency, ranked #114 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.
• Market conditions: 57 active listings in the ZIP; 347 units permitted in Walker County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Walker County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,164 (8.6% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 7.94%
• Cash-on-cash: 5.87%
• DSCR: 1.26
• GRM: 9.1

CMA / ARV

• ARV (median comp): $256,244
• List price: $196,000
• Delta: -23.51%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-14,772
• Equity at exit: $29,224

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $8,733
• Equity at exit: $16,946

Cash invested: $54,880 (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 30739

• Home prices YoY: -2.4%
• Active inventory: 57
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,792 medium
• Mortgage (P&I): −$1,028
• Tax from tax record: −$38 /mo · $451/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $268

Break-even live

Break-even rent $1,452

Max offer price $196,000

Occupancy floor 80%

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: $49,000
• Closing costs: $5,880
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-10
   pricedays on market $196,000 Active 63 DOM
2. 2026-06-09
   days on market $199,000 Active 62 DOM
3. 2026-06-08
   days on market $199,000 Active 61 DOM
4. 2026-06-07
   days on market $199,000 Active 60 DOM
5. 2026-06-05
   days on market $199,000 Active 57 DOM
6. 2026-06-03
   days on market $199,000 Active 56 DOM
7. 2026-06-03
   price $199,000 Active 55 DOM
8. 2026-06-02
   days on market $205,000 Active 55 DOM
9. 2026-06-01
   days on market $205,000 Active 54 DOM
10. 2026-05-31
    days on market $205,000 Active 53 DOM
11. 2026-05-30
    days on market $205,000 Active 52 DOM
12. 2026-05-13
    price $213,000 1478-char remark

    Show marketing remark (1478 chars)

    Have you ever noticed how difficult it is to find an established home on significant acreage that hasn't already been subdivided? This 3-bedroom, 1.5-bathroom Rock Spring residence offers a true 4.41-acre retreat, providing the kind of privacy and "elbow room" that is nearly impossible to find at this price point. We believe in being disarmingly upfront about the property: while the home is currently occupied and reflects the natural clutter of a busy household, we invite you to look past the personal belongings to see a highly functional floor plan featuring a spacious kitchen, a dedicated dining area, and a large master suite. The value here is in the established "bones" of the property. This 1986-built home features a roof approximately 10 years old (installed 2014) and an HVAC system also approximately 10 years old. While these systems are established, the home is move-in ready and serves as a clean "blank canvas" for your creative vision. We’ve priced the property specifically to allow for standard cosmetic homeowner updates, providing a clear path to building immediate equity in a massive, private estate. With over four acres of freedom, the possibilities for a mini-farm, workshop, or simply enjoying the quiet Georgia evenings are endless. If you’ve been searching for a solid home and enough land to actually call your own, does it make sense to come take a look this week and see the potential for yourself?

13. 2026-05-09
    price $216,000 1478-char remark

    Show marketing remark (1478 chars)

    Have you ever noticed how difficult it is to find an established home on significant acreage that hasn't already been subdivided? This 3-bedroom, 1.5-bathroom Rock Spring residence offers a true 4.41-acre retreat, providing the kind of privacy and "elbow room" that is nearly impossible to find at this price point. We believe in being disarmingly upfront about the property: while the home is currently occupied and reflects the natural clutter of a busy household, we invite you to look past the personal belongings to see a highly functional floor plan featuring a spacious kitchen, a dedicated dining area, and a large master suite. The value here is in the established "bones" of the property. This 1986-built home features a roof approximately 10 years old (installed 2014) and an HVAC system also approximately 10 years old. While these systems are established, the home is move-in ready and serves as a clean "blank canvas" for your creative vision. We’ve priced the property specifically to allow for standard cosmetic homeowner updates, providing a clear path to building immediate equity in a massive, private estate. With over four acres of freedom, the possibilities for a mini-farm, workshop, or simply enjoying the quiet Georgia evenings are endless. If you’ve been searching for a solid home and enough land to actually call your own, does it make sense to come take a look this week and see the potential for yourself?

14. 2026-04-27
    price $220,000 1478-char remark

    Show marketing remark (1478 chars)

    Have you ever noticed how difficult it is to find an established home on significant acreage that hasn't already been subdivided? This 3-bedroom, 1.5-bathroom Rock Spring residence offers a true 4.41-acre retreat, providing the kind of privacy and "elbow room" that is nearly impossible to find at this price point. We believe in being disarmingly upfront about the property: while the home is currently occupied and reflects the natural clutter of a busy household, we invite you to look past the personal belongings to see a highly functional floor plan featuring a spacious kitchen, a dedicated dining area, and a large master suite. The value here is in the established "bones" of the property. This 1986-built home features a roof approximately 10 years old (installed 2014) and an HVAC system also approximately 10 years old. While these systems are established, the home is move-in ready and serves as a clean "blank canvas" for your creative vision. We’ve priced the property specifically to allow for standard cosmetic homeowner updates, providing a clear path to building immediate equity in a massive, private estate. With over four acres of freedom, the possibilities for a mini-farm, workshop, or simply enjoying the quiet Georgia evenings are endless. If you’ve been searching for a solid home and enough land to actually call your own, does it make sense to come take a look this week and see the potential for yourself?

15. 2026-04-22
    price $225,000 1478-char remark

    Show marketing remark (1478 chars)

    Have you ever noticed how difficult it is to find an established home on significant acreage that hasn't already been subdivided? This 3-bedroom, 1.5-bathroom Rock Spring residence offers a true 4.41-acre retreat, providing the kind of privacy and "elbow room" that is nearly impossible to find at this price point. We believe in being disarmingly upfront about the property: while the home is currently occupied and reflects the natural clutter of a busy household, we invite you to look past the personal belongings to see a highly functional floor plan featuring a spacious kitchen, a dedicated dining area, and a large master suite. The value here is in the established "bones" of the property. This 1986-built home features a roof approximately 10 years old (installed 2014) and an HVAC system also approximately 10 years old. While these systems are established, the home is move-in ready and serves as a clean "blank canvas" for your creative vision. We’ve priced the property specifically to allow for standard cosmetic homeowner updates, providing a clear path to building immediate equity in a massive, private estate. With over four acres of freedom, the possibilities for a mini-farm, workshop, or simply enjoying the quiet Georgia evenings are endless. If you’ve been searching for a solid home and enough land to actually call your own, does it make sense to come take a look this week and see the potential for yourself?

16. 2026-04-07
    listed $230,000 Active 1478-char remark

    Show marketing remark (1478 chars)

    Have you ever noticed how difficult it is to find an established home on significant acreage that hasn't already been subdivided? This 3-bedroom, 1.5-bathroom Rock Spring residence offers a true 4.41-acre retreat, providing the kind of privacy and "elbow room" that is nearly impossible to find at this price point. We believe in being disarmingly upfront about the property: while the home is currently occupied and reflects the natural clutter of a busy household, we invite you to look past the personal belongings to see a highly functional floor plan featuring a spacious kitchen, a dedicated dining area, and a large master suite. The value here is in the established "bones" of the property. This 1986-built home features a roof approximately 10 years old (installed 2014) and an HVAC system also approximately 10 years old. While these systems are established, the home is move-in ready and serves as a clean "blank canvas" for your creative vision. We’ve priced the property specifically to allow for standard cosmetic homeowner updates, providing a clear path to building immediate equity in a massive, private estate. With over four acres of freedom, the possibilities for a mini-farm, workshop, or simply enjoying the quiet Georgia evenings are endless. If you’ve been searching for a solid home and enough land to actually call your own, does it make sense to come take a look this week and see the potential for yourself?

ⓘ 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: $451 · $38/mo
• Projected year-2 tax: $1,803 · $150/mo
• Expected delta: +$1,352/yr (+$113/mo · 299.9%)

ⓘ 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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,500
• − Mortgage interest: −$10,979
• − Property taxes: −$451
• − Insurance: −$980
• − Repairs & maintenance: −$1,720
• − Management: −$1,720
• − Depreciation: −$5,702
• Taxable loss: −$52
• Est. tax savings @ 24.0%: +$12
• After-tax cash flow: $3,232/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: Walker County
• NCES district ID: 1305370
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $39,889
• Composite: 22.74/100
• National rank: #8035
• State rank: #114 of 174 in GA

Livability — Rock Spring

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 6,854

Population outlook (Walker County) Hauer SSP2

• Today (2025): 66,050 people
• By 2030: 64,305 · -2.6%
• By 2040: 60,127 · -9.0%
• By 2050: 55,551 · -15.9%
• By 2075: 44,886 · -32.0%
• By 2100: 34,015 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Black 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 4% Slovak 3% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Walker

• 2024 margin: Solid R (+59.3) · D 20.1% · R 79.4%
• 2008→2024 swing: -12.5pp toward R · 2008: -46.8pp · 2024: -59.3pp
• All cycles: 2024: R+59.3 2020: R+59.3 2016: R+61.5 2012: R+50.2 2008: R+46.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.64%
• Current HPI: 267.6364
• 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

-7.4% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $213,000 FMLS
• 2026-05-09 Price Changed $216,000 FMLS
• 2026-04-27 Price Changed $220,000 FMLS
• 2026-04-22 Price Changed $225,000 FMLS
• 2026-04-07 Listed $230,000 FMLS

Property tax history

+17.0%/yr

Latest (2025): $451 · +18.2% YoY. Source: county tax records.