637 & 639 Ethel St #2 · Douglas, GA 31533

$219,000

9 bd · 5.0 ba · 2,750 sqft · MultiFamily · 18 Days on market

Fair condition 1.30 ac lot

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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).

• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• 1% rule +2.4/10.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This turnkey investment opportunity features two adjacent single-family rental homes in the heart of Douglas, Georgia, offering strong in-place cash flow with additional upside potential. The portfolio includes a 5BR/3BA home currently rented for $1,100/month and a 4BR/2BA home currently rented for $900/month, generating $24,000 in annual gross rental income. Market rents support approximately $1,250/month and $1,000/month, respectively, providing an opportunity for increased revenue through future lease renewals. Both homes have benefited from new metal roofs, feature central heating and air conditioning, and have undergone various interior and exterior updates. With little-to-no deferred

Key facts

• New metal roofs
• 1.3 acre lot
• Listed 18 days

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• STRONG IN-PLACE CASH FLOW
• NEW METAL ROOFS
• CONVENIENT ACCESS TO SCHOOLS
• CONVENIENT ACCESS TO EMPLOYERS
• CONVENIENT ACCESS TO SHOPPING

Property features AI

Finance

• Other: Directions: Heading north on 441, turn right on Bowens Mill Rd, left on Gaskin Ave S, right on Ethel St — homes will be on the left

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story multi-family residential income property; Multi-unit property
• Construction: Vinyl siding; Built with vinyl siding
• Exterior features: Metal roof; Lot on approximately 1.3 acres; Zoned R

Interior

• Interior features: No interior details provided

What this means for you Summary

Snapshot

• This is a 9-bed/5.0-bath multifamily listed at $219k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-233 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (26.0% below list).
• Recommended offer: $162k (26.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#252 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, crime D, schools F.
• Coffee County (rural): math 28% / reading 31% proficiency, ranked #99 of 174 in GA (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 31 active listings in the ZIP; 110 units permitted in Coffee County in 2024 (6 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 $7k of value loss. Plan a longer hold.
• Coffee County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($216k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $162,114 (26.0% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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 D 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.74% ✗
• Cap rate: 5.02%
• Cash-on-cash: -4.55%
• DSCR: 0.80
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -24.0%
• Equity multiple: 0.18×
• Total profit: $-50,288
• Equity at exit: $32,654

10-year hold

• IRR: -19.1%
• Equity multiple: -0.02×
• Total profit: $-62,779
• Equity at exit: $18,935

Cash invested: $61,320 (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 31533

• Home prices YoY: -21.6%
• Active inventory: 31
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,621 medium
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $-233

Break-even live

Break-even rent $1,916

Max offer price $185,319

Occupancy floor —

Sensitivity live

Price	-10% $-81	-5% $-157	+0% $-233	+5% $-308	+10% $-384
Rent	-10% $-361	-5% $-297	+0% $-233	+5% $-169	+10% $-105
Rate	-1.0pp $-122	-0.5pp $-177	base $-233	+0.5pp $-290	+1.0pp $-347

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $219,000 Active 18 DOM
2. 2026-06-18
   days on market $219,000 Active 16 DOM
3. 2026-06-17
   days on market $219,000 Active 15 DOM
4. 2026-06-16
   days on market $219,000 Active 14 DOM
5. 2026-06-15
   days on market $219,000 Active 13 DOM
6. 2026-06-13
   days on market $219,000 Active 11 DOM
7. 2026-06-12
   days on market $219,000 Active 10 DOM
8. 2026-06-09
   days on market $219,000 Active 7 DOM
9. 2026-06-08
   days on market $219,000 Active 6 DOM
10. 2026-06-07
    days on market $219,000 Active 5 DOM
11. 2026-06-07
    days on market $219,000 Active 4 DOM
12. 2026-06-03
    remarks 699-char remark
13. 2026-06-03
    listed $219,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,454
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − Depreciation: −$6,371
• Taxable loss: −$6,677
• Est. tax savings @ 24.0%: +$1,603
• After-tax cash flow: $-1,191/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 · 3 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and maintenance, including a new roof, siding, and HVAC units, to improve its condition and value.

Repairs flagged

• Major roof — Visible rust and wear
• Major siding — Peeling paint and damage
• Major flooring — Dirt driveway and unkempt landscaping
• Major HVAC units — Old and likely inefficient

Value-add opportunities

• Both new roof — Improves both resale and rental value
• Both new siding — Enhances curb appeal and value
• Both landscaping and driveway maintenance — Improves curb appeal and rental value
• Both HVAC replacement — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Visible rust and wear	Major	$15,000–50,000
siding · Peeling paint and damage	Major	$15,000–50,000
flooring · Dirt driveway and unkempt landscaping	Major	$15,000–50,000
HVAC units · Old and likely inefficient	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both new roof — Improves both resale and rental value ↑
• Both new siding — Enhances curb appeal and value ↑
• Both landscaping and driveway maintenance — Improves curb appeal and rental value ↑
• Both HVAC replacement — Improves comfort and energy efficiency ↑

ⓘ 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: Coffee County
• NCES district ID: 1301350
• Math proficiency: 28% ▼ -12.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $35,068
• Composite: 24.36/100
• National rank: #7693
• State rank: #99 of 174 in GA

Livability — Douglas

• Score: 64/100
• State rank: #252
• US rank: #14074

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Douglas, GA
• Population (ZIP): 17,464

Population outlook (Coffee County) Hauer SSP2

• Today (2025): 43,255 people
• By 2030: 43,007 · -0.6%
• By 2040: 42,337 · -2.1%
• By 2050: 41,505 · -4.0%
• By 2075: 39,695 · -8.2%
• By 2100: 36,090 · -16.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 48% Black 34% Hispanic / Latino 15% Two or more races 11%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 14% Other Indo-European 1%

Political lean MEDSL · Coffee

• 2024 margin: Solid R (+45.1) · D 27.3% · R 72.5%
• 2008→2024 swing: -15.6pp toward R · 2008: -29.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+39.9 2016: R+39.5 2012: R+29.1 2008: R+29.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.34%
• Current HPI: 186.6264
• 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

1 event — show timeline

• 2026-06-02 Listed $219,000 SGMLS