149 Susan Dr · Fort Gaines, GA 36310

$99,900

2 bd · 2.0 ba · 938 sqft · Manufactured public records · 220 Days on market

Built 1985 0.46 ac lot $107/sqft · at area comps Est $106k · 6% under ↓ 9% since listing

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Why this score? — see what drove the A- 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 +10.2/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.6/10.0
• Schools +2.8/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 2 Bedroom, 2 Bathroom Home comes fully furnished in Riverview Forest Estates. This cozy, move-in ready, home sits on a half-acre lot just across the street from RVF gated community, offering all the perks of lake living. Enjoy access to community amenities including a fishing pier on the main lake, a beach area with restrooms and grills, and a playground for the kids. This home features a comfortable split floor plan, an open back deck perfect for relaxing or entertaining, and a spacious yard with plenty of room to enjoy the outdoors. With annual community dues of only $200, this property offers an affordable and relaxed lake lifestyle—ready for you to call home.

Key facts

• Half-acre lot
• Fishing pier
• Community amenities

Tags

• HALF-ACRE LOT
• COMMUNITY AMENITIES
• FISHING PIER
• BEACH AREA
• PLAYGROUND
• OPEN BACK DECK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 3.0% in Fort Gaines — 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 51/100 on livability (#573 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, schools F, crime F.
• Henry County (rural): math 21% / reading 45% proficiency, ranked #55 of 129 in AL (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 71 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Henry County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 94% 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 $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.46% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.89%
• DSCR: 1.89
• GRM: 5.7

CMA / ARV

• ARV (median comp): $106,341
• List price: $99,900
• Delta: -6.06%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.1%
• Equity multiple: 4.00×
• Total profit: $83,966
• Equity at exit: $89,998

10-year hold

• IRR: 33.7%
• Equity multiple: 9.01×
• Total profit: $224,083
• Equity at exit: $194,084

Cash invested: $27,972 (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 36310

• Home prices YoY: 19.7%
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,461 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $464

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 63%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $99,900 Active 220 DOM
2. 2026-06-18
   days on market $99,900 Active 219 DOM
3. 2026-06-17
   days on market $99,900 Active 218 DOM
4. 2026-06-16
   days on market $99,900 Active 217 DOM
5. 2026-06-15
   days on market $99,900 Active 216 DOM
6. 2026-06-14
   days on market $99,900 Active 214 DOM
7. 2026-06-12
   days on market $99,900 Active 213 DOM
8. 2026-06-09
   days on market $99,900 Active 210 DOM
9. 2026-06-08
   days on market $99,900 Active 209 DOM
10. 2026-06-07
    days on market $99,900 Active 208 DOM
11. 2026-06-03
    days on market $99,900 Active 204 DOM
12. 2026-06-02
    days on market $99,900 Active 203 DOM
13. 2026-06-01
    days on market $99,900 Active 202 DOM
14. 2026-05-31
    days on market $99,900 Active 201 DOM
15. 2026-05-30
    days on market $99,900 Active 200 DOM
16. 2026-04-15
    price $99,900 686-char remark

    Show marketing remark (686 chars)

    Charming 2 Bedroom, 2 Bathroom Home comes fully furnished in Riverview Forest Estates. This cozy, move-in ready, home sits on a half-acre lot just across the street from RVF gated community, offering all the perks of lake living. Enjoy access to community amenities including a fishing pier on the main lake, a beach area with restrooms and grills, and a playground for the kids. This home features a comfortable split floor plan, an open back deck perfect for relaxing or entertaining, and a spacious yard with plenty of room to enjoy the outdoors. With annual community dues of only $200, this property offers an affordable and relaxed lake lifestyle—ready for you to call home.

17. 2025-11-12
    listed $109,900 Active 686-char remark

    Show marketing remark (686 chars)

    Charming 2 Bedroom, 2 Bathroom Home comes fully furnished in Riverview Forest Estates. This cozy, move-in ready, home sits on a half-acre lot just across the street from RVF gated community, offering all the perks of lake living. Enjoy access to community amenities including a fishing pier on the main lake, a beach area with restrooms and grills, and a playground for the kids. This home features a comfortable split floor plan, an open back deck perfect for relaxing or entertaining, and a spacious yard with plenty of room to enjoy the outdoors. With annual community dues of only $200, this property offers an affordable and relaxed lake lifestyle—ready for you to call home.

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 94% 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: $17,531
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,402
• − Management: −$1,402
• − Depreciation: −$2,906
• Taxable income: $4,226
• Est. tax owed @ 24.0%: −$1,014
• After-tax cash flow: $4,551/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: Henry County
• NCES district ID: 0101740
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 45% ▲ 3.00%
• Median HH income: $41,502
• Composite: 27.78/100
• National rank: #6894
• State rank: #55 of 129 in AL

Livability — Fort Gaines

• Score: 51/100
• State rank: #573
• US rank: #25161

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,224

Population outlook (Henry County) Hauer SSP2

• Today (2025): 17,109 people
• By 2030: 16,928 · -1.1%
• By 2040: 16,376 · -4.3%
• By 2050: 15,778 · -7.8%
• By 2075: 14,491 · -15.3%
• By 2100: 12,673 · -25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 35% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Italian 3% Romanian 1% Slovak 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+50.8) · D 24.3% · R 75.1%
• 2008→2024 swing: -21.1pp toward R · 2008: -29.7pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+43.0 2016: R+41.6 2012: R+29.4 2008: R+29.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.85%
• Current HPI: 241.9035
• 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

-9.1% since first listed

2 events — show timeline

• 2026-04-15 Price Changed $99,900 EBOR
• 2025-11-12 Listed $109,900 EBOR

Property tax history

+6.4%/yr

Latest (2025): $103 · +3.0% YoY. Source: county tax records.