508 E 8th Ave · Cordele, GA 31015

$30,000

3 bd · 2.0 ba · 1,294 sqft · SingleFamily public records

Built 1935 ↓ 37% since listing

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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 +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Close proximity to business and shopping district. Would make good investment property.

Key facts

• Built 1935

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $656 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Cap rate 32.5% vs local median 4.9% 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: 173 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $207 of loan paydown is wiped out by about $900 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y ago 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 1935 — 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 $30,000

Questions for the listing agent

1. Built in 1935 — 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 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?
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 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: 3.56% ✓
• Cap rate: 32.55%
• Cash-on-cash: 93.76%
• DSCR: 5.17
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $78,934
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 N Bay St	0.48mi	3/2.0	1,323 (+2%)	16mo	$103,000	$78	60
515 E 13th Ave	0.31mi	3/2.0	1,170 (-10%)	16mo	$65,000	$56	57
408 E 14th Ave	0.43mi	2/1.0 (-1)	1,253 (-3%)	16mo	$55,650	$44	53
813 E 4th Ave	0.52mi	3/1.0	1,222 (-6%)	15mo	$149,000	$122	50
703 N Pecan St	0.68mi	2/2.5 (-1)	1,463 (+13%)	3mo	$119,900	$82	37
606 E 17th Ave	0.65mi	3/2.0	1,448 (+12%)	16mo	$88,200	$61	37
406 E 14th Ave	0.43mi	2/1.0 (-1)	1,106 (-14%)	16mo	$52,500	$47	34

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: 94.6%
• Equity multiple: 5.40×
• Total profit: $36,944
• Equity at exit: $4,473

10-year hold

• IRR: 97.3%
• Equity multiple: 11.24×
• Total profit: $86,013
• Equity at exit: $2,594

Cash invested: $8,400 (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: 173
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,069 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$18 /mo · $216/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $656

Break-even live

Break-even rent $238

Max offer price $30,000

Occupancy floor 34%

Sensitivity live

Price	-10% $673	-5% $665	+0% $656	+5% $648	+10% $639
Rent	-10% $572	-5% $614	+0% $656	+5% $699	+10% $741
Rate	-1.0pp $671	-0.5pp $664	base $656	+0.5pp $649	+1.0pp $641

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
506 E 3rd Ave Cordele, GA	2.0	1.0	904	$850	$0.94	22d	1	0.35mi
1516 E 20th Ave Cordele, GA	3.0	2.0	1100	$1,390	$1.26	22d	1	1.37mi
1516 S Pecan St Cordele, GA	2.0–3.0	1.0–1.5	910	$1,075	$1.18	22d	1	1.42mi
1506 S Pecan St Cordele, GA	2.0–3.0	2.5	1350	$1,415	$1.05	22d	1	1.43mi

Listing history 6 events

1. 2026-05-26
   listed $30,000
2. 2012-08-31
   historical
3. 2012-07-15
   historical
4. 2012-05-22
   listed $19,900
5. 2012-05-22
   listed $20,900
6. 2007-08-01
   soldstatus $47,500

ⓘ 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: $216 · $18/mo
• Projected year-2 tax: $276 · $23/mo
• Expected delta: +$60/yr (+$5/mo · 27.6%)

ⓘ 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 3/10 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: $12,823
• − Mortgage interest: −$1,680
• − Property taxes: −$216
• − Insurance: −$150
• − Repairs & maintenance: −$1,026
• − Management: −$1,026
• − Depreciation: −$873
• Taxable income: $7,852
• Est. tax owed @ 24.0%: −$1,884
• After-tax cash flow: $5,991/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

-36.8% since first listed

6 events — show timeline

• 2026-05-26 Listed $30,000 FSBO.com
• 2012-08-31 Listing Removed — GAMLS
• 2012-07-15 Listing Removed — GAMLS
• 2012-05-22 Listed $20,900 GAMLS
• 2012-05-22 Listed $19,900 GAMLS
• 2007-08-01 Sold (Public Records) $47,500 Public Records

Property tax history

-5.2%/yr

Latest (2025): $216 · +5.2% YoY. Source: county tax records.