308 Sheppard Dr · Newnan, GA 30263

$272,900

3 bd · 2.0 ba · 1,603 sqft · SingleFamily public records · 23 Days on market

Built 1977 1.03 ac lot Est $289k · 5% under

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Why this score? — see what drove the F 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 +9.9/15.0
• Cash flow +8.3/30.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 308 Sheppard Drive in the heart of Newnan! This charming home offers the perfect blend of comfort, convenience, and Southern charm. Featuring inviting living spaces, a functional layout, and a spacious yard perfect for relaxing or entertaining, this property is ready for its next chapter. Conveniently located near shopping, dining, schools, and downtown Newnan, you'll enjoy both peaceful living and easy access to everything the area has to offer. Whether you're a first-time buyer, downsizing, or looking for a smart investment, this home is full of opportunity and value!

Key facts

• Large backyard
• Eat-in kitchen
• Lvp flooring

Tags

• LVP FLOORING
• FAMILY ROOM WITH FIREPLACE
• EAT-IN KITCHEN
• SOLID SURFACE COUNTERS
• SCREENED-IN BACK PORCH
• LARGE BACKYARD

Property features AI

Finance

• Other: Corner lot in Claude Mitchell subdivision; Listing offered as-is; Financing accepted: Cash, Conventional, FHA, USDA, VA
• HOA & community: No HOA

Exterior

• Parking: Attached carport; Parking pad; Open parking
• Utilities: Well water; Septic tank; Electricity available
• Home design: Single-family house; Residential property; One story; Resale
• Construction: Built in 1977; Aluminum siding, brick, and vinyl siding exterior; Composition roof; Crawl space foundation
• Exterior features: Porch with screened area; Corner, level lot (about 1.03 acres)

Interior

• Kitchen: Breakfast area; Solid surface countertops; Dishwasher
• Bedrooms: 4 bedrooms on the main level
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Double vanity; Fireplace in family room; One-level living; Crawl space
• Laundry & utility: Laundry area (other)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $273k.

Deal economics

• At list price, monthly cash flow is $-248 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (16.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (34.7% below list).
• Recommended offer: $178k (34.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.8% in Newnan — 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 66/100 on livability (#184 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, employment B; Watch: crime F, amenities F, commute F.
• Coweta County (rural): math 37% / reading 43% proficiency, ranked #36 of 174 in GA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Western Elementary School (math 32% / reading 32%, grade F, #582 of 1,228 statewide, top 50%, 437 students, 59% FRL); Evans Middle School (math 26% / reading 40%, grade F, #213 of 470 statewide, top 47%, 770 students, 53% FRL); Newnan High School (math 42% / reading 26%, grade F, #93 of 424 statewide, top 23%, 2,335 students, 41% FRL).
• Market conditions: Rents rising (+2.9%/yr); 529 active listings in the ZIP; solid renter incomes; 963 units permitted in Coweta County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Coweta County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($269k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $105k; list at $273k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate 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 $178,084 (34.7% 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. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.65% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.89%
• DSCR: 0.83
• GRM: 12.8

CMA / ARV

• ARV (on-the-fly): $288,540
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
384 Thigpen Rd	0.63mi	3/2.5	1,580 (-1%)	11mo	$285,000	$180	57

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 · 2.87% rent growth · sell at horizon

5-year hold

• IRR: -23.0%
• Equity multiple: 0.21×
• Total profit: $-60,336
• Equity at exit: $40,690

10-year hold

• IRR: -18.0%
• Equity multiple: 0.03×
• Total profit: $-74,262
• Equity at exit: $23,595

Cash invested: $76,412 (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 30263

• Home prices YoY: -34.5%
• Rents YoY: 2.9%
• Active inventory: 529
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $1,781 medium
• Mortgage (P&I): −$1,431
• Tax from tax record: −$110 /mo · $1,315/yr
• Insurance: −$114
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $-248

Break-even live

Break-even rent $2,094

Max offer price $229,171

Occupancy floor —

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: $68,225
• Closing costs: $8,187
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $272,900 Active 23 DOM
2. 2026-06-17
   days on market $272,900 Active 22 DOM
3. 2026-06-16
   days on market $272,900 Active 21 DOM
4. 2026-06-16
   status $272,900 Active 20 DOM
5. 2026-06-15
   days on market $272,900 Price Change 20 DOM
6. 2026-06-13
   pricestatusdays on market $272,900 Price Change 18 DOM
7. 2026-06-09
   statusdays on market $274,900 Active 14 DOM
8. 2026-06-08
   days on market $274,900 New 13 DOM
9. 2026-06-07
   days on market $274,900 New 12 DOM
10. 2026-06-04
    days on market $274,900 New 9 DOM
11. 2026-06-03
    days on market $274,900 New 8 DOM
12. 2026-06-02
    days on market $274,900 New 7 DOM
13. 2026-06-01
    days on market $274,900 New 6 DOM
14. 2026-05-31
    days on market $274,900 New 5 DOM
15. 2026-05-21
    listed $274,900 New
16. 2016-03-07
    soldstatus $105,000

ⓘ 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: $1,315 · $110/mo
• Projected year-2 tax: $2,511 · $209/mo
• Expected delta: +$1,196/yr (+$100/mo · 90.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,370
• − Mortgage interest: −$15,287
• − Property taxes: −$1,315
• − Insurance: −$1,364
• − Repairs & maintenance: −$1,710
• − Management: −$1,710
• − Depreciation: −$7,939
• Taxable loss: −$7,954
• Est. tax savings @ 24.0%: +$1,909
• After-tax cash flow: $-1,062/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: Coweta County
• NCES district ID: 1301500
• Math proficiency: 37% ▼ -16.00%
• Reading proficiency: 43% ▼ -11.00%
• Median HH income: $62,978
• Composite: 35.72/100
• National rank: #4860
• State rank: #36 of 174 in GA

Livability — Newnan

• Score: 66/100
• State rank: #184
• US rank: #11578

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Coweta County · 148,589 people
• City population: 101,637
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 61,695
• Household income: $78,992
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 1320.0

Population outlook (Coweta County) Hauer SSP2

• Today (2025): 162,063 people
• By 2030: 173,373 · +7.0%
• By 2040: 194,658 · +20.1%
• By 2050: 212,246 · +31.0%
• By 2075: 246,544 · +52.1%
• By 2100: 257,059 · +58.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 25% Hispanic / Latino 9% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 7% Chinese 1% Other Indo-European 1%

Political lean MEDSL · Coweta

• 2024 margin: Solid R (+33.9) · D 32.7% · R 66.6%
• 2008→2024 swing: +7.3pp toward D · 2008: -41.2pp · 2024: -33.9pp
• All cycles: 2024: R+33.9 2020: R+35.5 2016: R+42.3 2012: R+44.1 2008: R+41.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.23%
• Current HPI: 249.0207
• Rent YoY: ▲ 2.87%
• 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

+161.8% since first listed

2 events — show timeline

• 2026-05-21 Listed $274,900 GAMLS
• 2016-03-07 Sold (Public Records) $105,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,315 · -1.0% YoY. Source: county tax records.