1846 Wax Rd SE · Rome, GA 30173

$164,900

2 bd · 1.0 ba · 1,184 sqft · SingleFamily public records · 9 Days on market

Built 1915 0.40 ac lot $139/sqft · 27% below area Est $226k · 27% under

---

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 +5.6/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into this inviting 2-bedroom, 1-bath home where comfort meets style. Enjoy peaceful mornings on the charming covered front porch or host summer gatherings on the expansive back deck. Inside, you'll find durable luxury vinyl plank flooring throughout and a tiled kitchen ready for your next meal. Owner financing available with $33,000 down payment, financing $131,500 at 12.00% for 20 years, with a monthly payment of $1,447.93 Listing agent is an owner and a licensed real estate agent in the state of Georgia acting as principal.

Key facts

• Covered front porch
• Tiled kitchen
• Back deck

Tags

• COVERED FRONT PORCH
• BACK DECK
• LUXURY VINYL PLANK FLOORING
• TILED KITCHEN

Property features AI

Finance

• Other: Resale property; Agent owned listing
• HOA & community: No homeowners association

Exterior

• Parking: More than one parking space per unit
• Utilities: Public water available; Septic tank sewer; Electricity available (220 volts)
• Home design: Single-family residence (house); Built in 1915
• Construction: Wood siding; Composition roof; Crawl space foundation
• Exterior features: Deck; Porch; Corner lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric central heating; Central electric air conditioning
• Interior features: One-level living; Crawl space basement; Public-record living area 1184 (above grade); No fireplaces
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.3% vs local median 3.4% in Rome — 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 64/100 on livability (#266 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Floyd County (rural): math 41% / reading 40% proficiency, ranked #45 of 174 in GA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pepperell Elementary (math 44% / reading 40%, grade F, #380 of 1,228 statewide, top 33%, 501 students, 64% FRL); Pepperell Middle School (math 36% / reading 36%, grade F, #178 of 470 statewide, top 39%, 520 students, 64% FRL); Pepperell High School (math 32% / reading 32%, grade F, #110 of 424 statewide, top 28%, 896 students, 49% FRL).
• Market conditions: 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 355 units permitted in Floyd County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Floyd County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $102k; list at $165k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,900

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.06% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.03%
• DSCR: 1.31
• GRM: 7.9

CMA / ARV

• ARV (median comp): $225,730
• List price: $164,900
• Delta: -26.95%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1846 Wax Rd SE	0.00mi	2/1.0	1,184 (0%)	0mo	$160,000	$135	100
1912 Wax Rd	0.15mi	2/2.0	1,200 (+1%)	11mo	$238,000	$198	77
210 Harmony Rd SE	0.54mi	3/1.5 (+1)	1,124 (-5%)	22mo	$180,000	$160	41

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: -8.0%
• Equity multiple: 0.70×
• Total profit: $-13,683
• Equity at exit: $24,587

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $5,013
• Equity at exit: $14,258

Cash invested: $46,172 (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 30173

• Home prices YoY: -26.2%
• Active inventory: 56
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,750 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$179 /mo · $2,144/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $204

Break-even live

Break-even rent $1,492

Max offer price $164,900

Occupancy floor 83%

Sensitivity live

Price	-10% $297	-5% $251	+0% $204	+5% $157	+10% $111
Rent	-10% $66	-5% $135	+0% $204	+5% $273	+10% $342
Rate	-1.0pp $287	-0.5pp $246	base $204	+0.5pp $161	+1.0pp $118

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1162 Wax Rd SE Silver Creek, GA	3.0	2.0	1440	$1,750	$1.22	7d	1	1.19mi

Listing history 5 events

1. 2026-05-11
   listed $164,900 New 542-char remark
2. 2026-02-09
   soldstatus $102,000
3. 2024-05-21
   soldstatus $85,000
4. 2002-09-27
   soldstatus $62,000
5. 1993-03-25
   soldstatus $15,000

ⓘ 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: $2,144 · $179/mo
• Projected year-2 tax: $2,144 · $179/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $21,000
• − Mortgage interest: −$9,237
• − Property taxes: −$2,144
• − Insurance: −$1,622
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$4,797
• Taxable loss: −$160
• Est. tax savings @ 24.0%: +$38
• After-tax cash flow: $2,485/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: Floyd County
• NCES district ID: 1302190
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $47,083
• Composite: 34.64/100
• National rank: #5143
• State rank: #45 of 174 in GA

Livability — Rome

• Score: 64/100
• State rank: #266
• US rank: #14459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 77,706
• Population (ZIP): 6,915

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 96,321 people
• By 2030: 95,532 · -0.8%
• By 2040: 93,332 · -3.1%
• By 2050: 90,850 · -5.7%
• By 2075: 84,989 · -11.8%
• By 2100: 76,097 · -21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 8% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Floyd

• 2024 margin: Solid R (+42.0) · D 28.8% · R 70.7%
• 2008→2024 swing: -5.6pp toward R · 2008: -36.4pp · 2024: -42.0pp
• All cycles: 2024: R+42.0 2020: R+41.1 2016: R+43.5 2012: R+39.9 2008: R+36.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.41%
• Current HPI: 256.8288
• 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

+999.3% since first listed

6 events — show timeline

• 2026-05-20 Pending — GAMLS
• 2026-05-11 Listed $164,900 GAMLS
• 2026-02-09 Sold (Public Records) $102,000 Public Records
• 2024-05-21 Sold (Public Records) $85,000 Public Records
• 2002-09-27 Sold (Public Records) $62,000 Public Records
• 1993-03-25 Sold (Public Records) $15,000 Public Records

Property tax history

+12.3%/yr

Latest (2025): $2,144 · +77.8% YoY. Source: county tax records.