1209 Church St · Waycross, GA 31501

$25,000

3 bd · 2.0 ba · 1,024 sqft · MultiFamily public records · 4 Days on market

Built 1973

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

Duplex home converted to single family built 1935 still has good bones new metal roof house has been painted needs some Sheetrock work on one of the units house lots of storage space fenced in yard some new windows tiny house in back

Key facts

• Metal roof
• Fenced in yard
• Built 1973

Tags

• METAL ROOF
• FENCED IN YARD
• LOTS OF STORAGE SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $25k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($875 rent vs $25k).
• Cap rate 31.6% vs local median 5.1% in Waycross — 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 55/100 on livability (#519 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Ware County (town): math 27% / reading 35% proficiency, ranked #95 of 174 in GA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Williams Heights Elementary School (math 28% / reading 35%, grade F, #612 of 1,228 statewide, top 50%, 426 students, 80% FRL); Waycross Middle School (math 22% / reading 37%, grade F, #249 of 470 statewide, top 55%, 583 students, 86% FRL); Ware County High School (math 33% / reading 30%, grade F, #122 of 424 statewide, top 30%, 1,589 students, 86% FRL) — zoned schools average 84% FRL vs 64% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 115 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 45 units permitted in Ware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Ware County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $14k; list at $25k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $25,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.50% ✓
• Cap rate: 31.62%
• Cash-on-cash: 90.45%
• DSCR: 5.02
• GRM: 2.4

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: 91.1%
• Equity multiple: 5.22×
• Total profit: $29,560
• Equity at exit: $3,728

10-year hold

• IRR: 94.0%
• Equity multiple: 10.86×
• Total profit: $69,040
• Equity at exit: $2,162

Cash invested: $7,000 (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 31501

• Home prices YoY: -29.3%
• Active inventory: 115
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $875 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$22 /mo · $266/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $528

Break-even live

Break-even rent $207

Max offer price $25,000

Occupancy floor 35%

Sensitivity live

Price	-10% $542	-5% $535	+0% $528	+5% $521	+10% $513
Rent	-10% $458	-5% $493	+0% $528	+5% $562	+10% $597
Rate	-1.0pp $540	-0.5pp $534	base $528	+0.5pp $521	+1.0pp $515

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
801 Naomi St Waycross, GA	2.0–4.0	1.0–2.0	1109	$875	$0.79	45d	1	0.80mi

Listing history 4 events

1. 2026-06-21
   days on market $25,000 Active 4 DOM
2. 2026-06-21
   days on market $25,000 Active 3 DOM
3. 2026-06-17
   remarks 235-char remark
4. 2026-06-17
   listed $25,000 Active 1 DOM

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

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $266 · $22/mo
• Projected year-2 tax: $266 · $22/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,500
• − Mortgage interest: −$1,400
• − Property taxes: −$266
• − Insurance: −$125
• − Repairs & maintenance: −$840
• − Management: −$840
• − Depreciation: −$727
• Taxable income: $6,302
• Est. tax owed @ 24.0%: −$1,512
• After-tax cash flow: $4,819/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: Ware County
• NCES district ID: 1305430
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -12.00%
• Median HH income: $35,231
• Composite: 25.6/100
• National rank: #7415
• State rank: #95 of 174 in GA

Livability — Waycross

• Score: 55/100
• State rank: #519
• US rank: #23458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waycross, GA
• City population: 36,207
• Population (ZIP): 13,034

Population outlook (Ware County) Hauer SSP2

• Today (2025): 33,313 people
• By 2030: 32,071 · -3.7%
• By 2040: 29,587 · -11.2%
• By 2050: 27,197 · -18.4%
• By 2075: 22,323 · -33.0%
• By 2100: 18,197 · -45.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 49% Black 45% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Lithuanian 1% Scottish 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ware

• 2024 margin: Solid R (+43.1) · D 28.3% · R 71.4%
• 2008→2024 swing: -8.7pp toward R · 2008: -34.5pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+40.4 2016: R+41.7 2012: R+33.9 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.90%
• Current HPI: 243.5058
• 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

+47.1% since first listed

3 events — show timeline

• 2026-06-18 Listed $25,000 FSBO.com
• 2022-07-13 Sold (Public Records) $14,000 Public Records
• 2019-08-22 Sold (Public Records) $17,000 Public Records

Property tax history

+10.2%/yr

Latest (2025): $266 · +6.7% YoY. Source: county tax records.