316 E 23rd Ave · Cordele, GA 31015

$89,250

3 bd · 1.5 ba · 1,561 sqft · SingleFamily public records · 52 Days on market

Built 1950 7,405 sqft lot $57/sqft · 36% below area Est $139k · 36% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Four Bedroom, two bath home in Cordele City limits priced to sell!! Home is currently rented for $850 per month. Would make a great investment property to continue to rent or a wonderful first-time buyer home! Shown by Appointment only!

Key facts

• 7,405 sq ft lot
• Built 1950
• Listed 52 days

Property features AI

Finance

• Other: Lot approximately 0.17 acre; Lot features listed as Other; Public records used for living area and lot size
• HOA & community: No HOA; No association fees listed

Exterior

• Parking: No on-site parking
• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected
• Home design: Single family residence; House; Built in 1950; Residential property; Resale
• Construction: Vinyl siding construction; Metal roof; Built in 1950
• Exterior features: Metal roof; Vinyl siding; Double pane windows; Street lights in the community

Interior

• Kitchen: No appliances listed
• Bedrooms: 4 bedrooms on the main level
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heat pump; Central air conditioning
• Interior features: One-level living; Dining room and living room combined; Family room; Laundry room
• Laundry & utility: Laundry closet

🏷️ Possibly a rental listed for sale. The $89,250 price doesn't fit this home's estimated sale value (~$138,872) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 4.1% in Cordele — 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 53/100 on livability (#556 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Crisp County (rural): math 20% / reading 21% proficiency, ranked #143 of 174 in GA (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 166 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 21 units permitted in Crisp County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $618 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Crisp County population projected at -22% 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,572 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 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 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. 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.
7. 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.
8. 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: 1.58% ✓
• Cap rate: 13.53%
• Cash-on-cash: 25.85%
• DSCR: 2.15
• GRM: 5.3

CMA / ARV

• ARV (median comp): $138,872
• List price: $89,250
• Delta: -35.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
615 E 28th Ave	0.40mi	3/2.0	1,449 (-7%)	1mo	$185,000	$128	67
510 E 25th Ave	0.21mi	4/2.5 (+1)	1,664 (+7%)	6mo	$219,000	$132	65
505 E 29th Ave	0.42mi	4/2.0 (+1)	1,614 (+3%)	8mo	$206,500	$128	61
623 E 25th Ave	0.30mi	3/1.5	1,379 (-12%)	10mo	$159,900	$116	58
312 E 17th Ave	0.67mi	3/1.5	1,446 (-7%)	5mo	$36,000	$25	53
702 E 17th Ave	0.56mi	2/2.0 (-1)	1,640 (+5%)	10mo	$162,050	$99	50
606 E 17th Ave	0.50mi	3/2.0	1,448 (-7%)	16mo	$88,200	$61	49
624 E 25th Ave	0.31mi	3/2.0	1,762 (+13%)	16mo	$170,000	$96	49
724 E 26th Ave	0.46mi	3/2.0	1,338 (-14%)	6mo	$183,500	$137	47
810 E 29th Ave, Ave	0.64mi	3/2.0	1,724 (+10%)	13mo	$214,000	$124	40
810 E 29th Ave	0.64mi	3/2.0	1,725 (+10%)	13mo	$214,000	$124	40
714 E 18th Ave	0.52mi	2/1.0 (-1)	1,355 (-13%)	12mo	$166,200	$123	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.79×
• Total profit: $19,824
• Equity at exit: $13,307

10-year hold

• IRR: 27.8%
• Equity multiple: 3.46×
• Total profit: $61,395
• Equity at exit: $7,717

Cash invested: $24,990 (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 31015

• Home prices YoY: -24.1%
• Active inventory: 166
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,407 medium
• Mortgage (P&I): −$468
• Tax from tax record: −$68 /mo · $811/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $538

Break-even live

Break-even rent $725

Max offer price $89,250

Occupancy floor 57%

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: $22,312
• Closing costs: $2,678
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1506 S Pecan St Cordele, GA	2.0–3.0	2.5	1350	$1,415	$1.05	20d	1	0.71mi
1516 E 20th Ave Cordele, GA	3.0	2.0	1100	$1,390	$1.26	20d	1	1.15mi

Listing history 17 events

1. 2026-06-18
   days on market $89,250 Active 52 DOM
2. 2026-06-17
   days on market $89,250 Active 51 DOM
3. 2026-06-16
   days on market $89,250 Active 50 DOM
4. 2026-06-15
   days on market $89,250 Active 49 DOM
5. 2026-06-13
   days on market $89,250 Active 47 DOM
6. 2026-06-12
   days on market $89,250 Active 46 DOM
7. 2026-06-09
   days on market $89,250 Active 43 DOM
8. 2026-06-08
   days on market $89,250 Active 42 DOM
9. 2026-06-07
   days on market $89,250 Active 41 DOM
10. 2026-06-07
    days on market $89,250 Active 40 DOM
11. 2026-06-04
    days on market $89,250 Active 37 DOM
12. 2026-06-02
    days on market $89,250 Active 36 DOM
13. 2026-06-01
    days on market $89,250 Active 35 DOM
14. 2026-05-31
    days on market $89,250 Active 34 DOM
15. 2026-05-31
    days on market $89,250 Active 33 DOM
16. 2026-04-27
    listed $89,250 Active 236-char remark

    Show marketing remark (236 chars)

    Four Bedroom, two bath home in Cordele City limits priced to sell!! Home is currently rented for $850 per month. Would make a great investment property to continue to rent or a wonderful first-time buyer home! Shown by Appointment only!

17. 2026-04-24
    listed $89,250 New 236-char remark

ⓘ 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: $811 · $68/mo
• Projected year-2 tax: $821 · $68/mo
• Expected delta: +$10/yr (+$1/mo · 1.2%)

ⓘ 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 7/10 Severe 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,879
• − Mortgage interest: −$4,999
• − Property taxes: −$811
• − Insurance: −$446
• − Repairs & maintenance: −$1,350
• − Management: −$1,350
• − Depreciation: −$2,596
• Taxable income: $5,326
• Est. tax owed @ 24.0%: −$1,278
• After-tax cash flow: $5,183/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: Crisp County
• NCES district ID: 1301560
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 21% ▼ -7.00%
• Median HH income: $32,681
• Composite: 16.68/100
• National rank: #9168
• State rank: #143 of 174 in GA

Livability — Cordele

• Score: 53/100
• State rank: #556
• US rank: #24483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cordele, GA
• Population (ZIP): 18,615

Population outlook (Crisp County) Hauer SSP2

• Today (2025): 21,484 people
• By 2030: 20,594 · -4.1%
• By 2040: 18,691 · -13.0%
• By 2050: 16,769 · -21.9%
• By 2075: 12,329 · -42.6%
• By 2100: 8,591 · -60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 48% White 47% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 1% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Crisp

• 2024 margin: Strong R (+25.9) · D 36.9% · R 62.8%
• 2008→2024 swing: -8.2pp toward R · 2008: -17.7pp · 2024: -25.9pp
• All cycles: 2024: R+25.9 2020: R+24.9 2016: R+22.7 2012: R+13.8 2008: R+17.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.99%
• Current HPI: 182.3676
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-27 Listed $89,250 CABOR
• 2026-04-24 Listed $89,250 GAMLS

Property tax history

+9.4%/yr

Latest (2025): $811 · +10.2% YoY. Source: county tax records.