328 Martin Luther King Jr Dr · Eatonton, GA 31024

$255,000

4 bd · 3.0 ba · 2,353 sqft · SingleFamily public records · 51 Days on market

Built 1990 0.60 ac lot $108/sqft · 29% below area Est $358k · 29% under

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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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and full of charm. This home has it all. A bedroom on the main level - ideal for guests, a home office or multi-generational living. Entertain in the formal living room and elegant dining room while the eat-in-kitchen offers the perfect gathering space for everyday meals. Upstairs you will find generously sized bedrooms with room to relax and unwind. Situated on a large lot with outdoor space to garden, entertain or simply enjoy. Come see the possibilities.

Key facts

• Elegant dining room
• Eat-in-kitchen
• Large lot

Tags

• BEDROOM ON THE MAIN LEVEL
• FORMAL LIVING ROOM
• ELEGANT DINING ROOM
• EAT-IN-KITCHEN
• LARGE LOT
• OUTDOOR SPACE

Property features AI

Finance

• Other: Lot approximately 0.6 acres
• HOA & community: No HOA

Exterior

• Parking: Attached garage
• Utilities: Public water; Public sewer; Electricity available; Cable available; High-speed internet available
• Home design: Single-family residence; Two levels; House structure; Resale property
• Construction: Built in 1990; Stone and wood siding exterior; Composition roof; Crawl space foundation
• Exterior features: Level lot

Interior

• Kitchen: Dishwasher; Ice maker; Electric water heater
• Bedrooms: 4 bedrooms (1 on the main level)
• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: 3 full bathrooms and 1 half bathroom; One full bathroom on the main level
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Separate shower; Walk-in closets; Factory-built fireplace (1)
• Laundry & utility: Mud room laundry area

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (1.3% below list).
• Recommended offer: $247k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.7% in Eatonton — 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 71/100 on livability (#76 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Putnam County (rural): math 33% / reading 30% proficiency, ranked #86 of 174 in GA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Putnam County Primary School (756 students, 81% FRL); Putnam County Middle School (math 31% / reading 33%, grade F, #229 of 470 statewide, top 49%, 681 students, 81% FRL); Putnam County High School (math 8% / reading 32%, grade F, #238 of 424 statewide, top 57%, 919 students, 81% FRL).
• Market conditions: 524 active listings in the ZIP; 129 units permitted in Putnam County in 2024 (50 in 5+ unit buildings).
• At $2,517/mo this rent would consume 46% of the median local household income ($66k/yr) (locally 696% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Putnam County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 45% 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 $247,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 0.99% ✗
• Cap rate: 8.26%
• Cash-on-cash: 7.03%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (median comp): $358,097
• List price: $255,000
• Delta: -28.79%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Harmony Farms Orch	0.43mi	4/3.0	2,660 (+13%)	13mo	$403,000	$152	47

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-14,767
• Equity at exit: $38,021

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $21,112
• Equity at exit: $22,048

Cash invested: $71,400 (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 31024

• Active inventory: 524
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,517 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$127 /mo · $1,523/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $418

Break-even live

Break-even rent $1,988

Max offer price $255,000

Occupancy floor 78%

Sensitivity live

Price	-10% $563	-5% $490	+0% $418	+5% $346	+10% $274
Rent	-10% $219	-5% $319	+0% $418	+5% $518	+10% $617
Rate	-1.0pp $547	-0.5pp $483	base $418	+0.5pp $352	+1.0pp $285

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $255,000 Active 51 DOM
2. 2026-06-19
   days on market $255,000 Active 49 DOM
3. 2026-06-18
   days on market $255,000 Active 48 DOM
4. 2026-06-17
   days on market $255,000 Active 47 DOM
5. 2026-06-16
   days on market $255,000 Active 46 DOM
6. 2026-06-15
   days on market $255,000 Active 45 DOM
7. 2026-06-14
   days on market $255,000 Active 43 DOM
8. 2026-06-12
   days on market $255,000 Active 42 DOM
9. 2026-06-09
   days on market $255,000 Active 39 DOM
10. 2026-06-08
    days on market $255,000 Active 38 DOM
11. 2026-06-07
    days on market $255,000 Active 37 DOM
12. 2026-06-05
    days on market $255,000 Active 34 DOM
13. 2026-06-03
    days on market $255,000 Active 33 DOM
14. 2026-06-02
    days on market $255,000 Active 32 DOM
15. 2026-06-01
    days on market $255,000 Active 31 DOM
16. 2026-05-31
    days on market $255,000 Active 30 DOM
17. 2026-05-30
    days on market $255,000 Active 29 DOM
18. 2026-05-01
    listed $255,000 New 477-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: $1,523 · $127/mo
• Projected year-2 tax: $2,346 · $196/mo
• Expected delta: +$823/yr (+$69/mo · 54.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 45% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,206
• − Mortgage interest: −$14,284
• − Property taxes: −$1,523
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,417
• − Management: −$2,417
• − Depreciation: −$7,418
• Taxable income: $873
• Est. tax owed @ 24.0%: −$210
• After-tax cash flow: $4,809/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: Putnam County
• NCES district ID: 1304260
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $44,038
• Composite: 26.9/100
• National rank: #7088
• State rank: #86 of 174 in GA

Livability — Eatonton

• Score: 71/100
• State rank: #76
• US rank: #6665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eatonton, GA
• County: Putnam County · 21,601 people
• City population: 21,601
• Metro: nan
• Population (ZIP): 21,601
• Household income: $65,971
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 696.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 20,747 people
• By 2030: 20,163 · -2.8%
• By 2040: 18,680 · -10.0%
• By 2050: 17,117 · -17.5%
• By 2075: 13,269 · -36.0%
• By 2100: 9,234 · -55.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+42.2) · D 28.7% · R 71.0%
• 2008→2024 swing: -10.9pp toward R · 2008: -31.4pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.9 2016: R+40.0 2012: R+35.8 2008: R+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.84%
• Current HPI: 269.8265
• Rent YoY: —
• Metro: nan
• 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

1 event — show timeline

• 2026-05-01 Listed $255,000 GAMLS

Property tax history

-0.2%/yr

Latest (2025): $1,523 · +3.9% YoY. Source: county tax records.