185 Park Ave · Hardwick, GA 31061

$95,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 17 Days on market

Built 1975

---

Why this score? — see what drove the C+ 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 +27.2/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This 920 square foot single family home has 3 bedrooms and 2.0 bathrooms. This home is located at 185 Park Ave, Milledgeville, GA 31061.

Key facts

• Built 1975
• Listed 16 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#102 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Baldwin County (town): math 13% / reading 20% proficiency, ranked #152 of 174 in GA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.0%/yr); 375 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 202 units permitted in Baldwin County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Baldwin County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y 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

• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — 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. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.23%
• DSCR: 1.54
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $48,384
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1805 SE Vinson Hwy	0.48mi	2/1.0	913 (+6%)	19mo	$55,000	$60	53
2205 Irwinton Rd	0.70mi	2/1.0	848 (-2%)	23mo	$45,000	$53	46
123 SE Lee Dr SE	0.75mi	3/1.0 (+1)	925 (+7%)	6mo	$52,000	$56	43
123 SE Lee Dr SE #123	0.75mi	3/1.0 (+1)	925 (+7%)	6mo	$52,000	$56	43
135 Ramsey St	0.73mi	3/1.0 (+1)	976 (+13%)	3mo	$70,000	$72	37

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 · 4.05% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.11×
• Total profit: $3,001
• Equity at exit: $14,165

10-year hold

• IRR: 13.4%
• Equity multiple: 2.11×
• Total profit: $29,591
• Equity at exit: $8,214

Cash invested: $26,600 (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 31061

• Home prices YoY: -29.9%
• Rents YoY: 4.0%
• Active inventory: 375
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,085 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$49 /mo · $583/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $271

Break-even live

Break-even rent $742

Max offer price $95,000

Occupancy floor 70%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
180 Carter Pl SW Milledgeville, GA	3.0	2.0	1024	$1,125	$1.10	44d	1	0.69mi
621 S Wilkinson St Milledgeville, GA	2.0	2.0	800	$900	$1.12	44d	1	1.15mi
450 W Franklin St Milledgeville, GA	2.0	1.0	800	$995	$1.24	44d	1	1.35mi

Listing history 13 events

1. 2026-06-19
   days on market $95,000 Active 17 DOM
2. 2026-06-18
   days on market $95,000 Active 16 DOM
3. 2026-06-17
   days on market $95,000 Active 15 DOM
4. 2026-06-16
   days on market $95,000 Active 14 DOM
5. 2026-06-15
   days on market $95,000 Active 13 DOM
6. 2026-06-14
   days on market $95,000 Active 11 DOM
7. 2026-06-12
   days on market $95,000 Active 10 DOM
8. 2026-06-09
   days on market $95,000 Active 7 DOM
9. 2026-06-08
   days on market $95,000 Active 6 DOM
10. 2026-06-07
    days on market $95,000 Active 5 DOM
11. 2026-06-05
    days on market $95,000 Active 2 DOM
12. 2026-06-03
    remarks 136-char remark
13. 2026-06-03
    listed $95,000 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: $583 · $49/mo
• Projected year-2 tax: $874 · $73/mo
• Expected delta: +$291/yr (+$24/mo · 49.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,024
• − Mortgage interest: −$5,321
• − Property taxes: −$583
• − Insurance: −$475
• − Repairs & maintenance: −$1,042
• − Management: −$1,042
• − Depreciation: −$2,764
• Taxable income: $1,797
• Est. tax owed @ 24.0%: −$431
• After-tax cash flow: $2,821/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: Baldwin County
• NCES district ID: 1300210
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 20% ▼ -5.00%
• Median HH income: $35,615
• Composite: 13.61/100
• National rank: #9508
• State rank: #152 of 174 in GA

Livability — Hardwick

• Score: 70/100
• State rank: #102
• US rank: #8062

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hardwick, GA
• County: Baldwin County · 41,764 people
• City population: 41,194
• Metro: Milledgeville, GA
• Population (ZIP): 41,764
• Household income: $54,263
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1630.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 45,602 people
• By 2030: 45,481 · -0.3%
• By 2040: 44,310 · -2.8%
• By 2050: 42,129 · -7.6%
• By 2075: 36,819 · -19.3%
• By 2100: 29,320 · -35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 51% Black 43% Hispanic / Latino 3% Two or more races 3% Asian 2%
• Common ancestry: Slovak 1% Serbian 1% Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Baldwin

• 2024 margin: Toss-up / Even · D 48.6% · R 50.9%
• 2008→2024 swing: -6.8pp toward R · 2008: 4.6pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+1.3 2016: D+1.7 2012: D+5.5 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.16%
• Current HPI: 241.3758
• Rent YoY: ▲ 4.05%
• Metro: Milledgeville, GA
• 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

+171.4% since first listed

16 events — show timeline

• 2026-06-03 Listed $95,000 FSBO.com
• 2026-03-16 Listing Removed — GAMLS
• 2026-03-04 Relisted — GAMLS
• 2026-02-20 Pending — GAMLS
• 2026-02-02 Price Changed $99,900 GAMLS
• 2026-01-25 Listed $124,900 GAMLS
• 2025-11-28 Listing Removed — GAMLS
• 2025-11-28 Listing Removed — FMLS
• 2025-10-28 Listed $125,000 GAMLS
• 2025-10-28 Listed $125,000 FMLS
• 2025-05-06 Listing Removed — GAMLS
• 2025-02-03 Price Changed $115,999 GAMLS
• 2024-12-30 Price Changed $120,999 GAMLS
• 2024-11-06 Listed $125,000 GAMLS
• 2023-04-26 Listing Removed — GAMLS
• 2023-03-26 Listed $35,000 GAMLS

Property tax history

+6.3%/yr

Latest (2025): $583 · -2.5% YoY. Source: county tax records.