104 Estelle Ave · Athens-Clarke County unified government (balance), GA 30606

$159,000

3 bd · 1.0 ba · 1,220 sqft · SingleFamily public records · 30 Days on market

Built 1953 0.35 ac lot $130/sqft · 49% below area Est $312k · 49% under ↓ 6% since listing

---

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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.3/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity near the heart of Downtown Athens! This 4-sided brick ranch home features hardwood floors and spacious bedrooms. With plenty of front and back yard space this property has plenty of potential. This is a true fixer-upper, perfect for investors looking to maximize their portfolio. With its established location and large lot, this home presents a fantastic value-add opportunity. Conveniently located near downtown Athens, University of Georgia's campus, shopping, dining, and other local amenities.

Key facts

• 4 sided brick
• Front and back yard
• Large lot

Tags

• 4 SIDED BRICK
• HARDWOOD FLOORS
• FRONT AND BACK YARD
• LARGE LOT

Property features AI

Exterior

• Parking: Detached carport with 2 carport spaces; Other garage/workshop structures on site
• Utilities: Public water; Public sewer; Other electric
• Home design: One-level home; Resale property
• Construction: Brick construction (brick 4 sides, brick front); Composition roof; Concrete perimeter foundation and slab
• Exterior features: Other exterior features; Asphalt road frontage on a city street

Interior

• Kitchen: Eat-in kitchen with cabinets (other)
• Bedrooms: Three main-level bedrooms; Additional bedroom features: Other
• Flooring: Hardwood floors
• Bathrooms: One full bathroom; Master bathroom with tub/shower combo
• Heating & cooling: Ceiling fans; Window air conditioning units
• Interior features: No shared/common walls; Other interior features
• Laundry & utility: Main-level laundry; Washer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.3% in Athens-Clarke County unified government (balance) — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Clarke County (urban): math 17% / reading 21% proficiency, ranked #146 of 174 in GA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Clarke Middle School (math 22% / reading 32%, grade F, #271 of 470 statewide, top 60%, 708 students, 83% FRL); Clarke Central High School (math 15% / reading 24%, grade F, #238 of 424 statewide, top 57%, 1,836 students, 83% FRL).
• Market conditions: Rents rising (+1.6%/yr); 317 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,172 units permitted in Clarke County in 2024 (876 in 5+ unit buildings).
• This rent runs 31% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Clarke County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% 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 $156,615 (1.5% below list)

Questions for the listing agent

1. Built in 1953 — 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. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.20%
• DSCR: 1.28
• GRM: 8.1

CMA / ARV

• ARV (median comp): $312,141
• List price: $159,000
• Delta: -49.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1100 Forest Heights Dr	0.34mi	3/2.0	1,231 (+1%)	14mo	$334,900	$272	67
342 Knottingham Dr	0.57mi	3/2.0	1,355 (+11%)	3mo	$320,000	$236	48
809 Forest Heights Dr	0.64mi	3/2.0	1,326 (+9%)	5mo	$332,500	$251	48
980 Oglethorpe Ave	0.73mi	3/2.0	1,176 (-4%)	11mo	$345,000	$293	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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.70×
• Total profit: $-13,416
• Equity at exit: $23,707

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-2,021
• Equity at exit: $13,747

Cash invested: $44,520 (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 30606

• Rents YoY: 1.6%
• Active inventory: 317
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,645 high
• Mortgage (P&I): −$834
• Tax from tax record: −$169 /mo · $2,031/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $230

Break-even live

Break-even rent $1,354

Max offer price $159,000

Occupancy floor 81%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
888 Horizon Blvd Athens, GA	1.0–2.0	1.0–2.0	1066	$1,795	$1.68	43d	1	0.20mi
105 Westchester Dr Athens, GA	2.0	2.5	1206	$1,825	$1.51	43d	2	0.42mi
105 Westchester Dr Athens, GA	2.0	2.5	1206	$1,675	$1.39	13d	3	0.42mi
205 Westchester Dr Athens, GA	1.0–3.0	1.0–2.0	1100	$1,505	$1.37	43d	1	0.45mi
130 Cole Manor Dr Athens, GA	2.0	1.0–1.5	705	$1,349	$1.91	13d	4	0.56mi
127 Lake Pl Athens, GA	2.0	1.0	986	$1,050	$1.06	21d	1	0.64mi
112 Lake Ct Unit 114 Athens, GA	2.0	1.0	986	$1,050	$1.06	21d	1	0.65mi
600 Mitchell Bridge Rd #1 Athens, GA	2.0	2.5	1275	$1,900	$1.49	43d	1	0.67mi
180 Chalfont Ln Unit 6 Athens, GA	2.0	1.5	1000	$1,250	$1.25	43d	1	0.69mi
113 Michele Dr Athens, GA	2.0	1.0	986	$1,050	$1.06	21d	1	0.71mi
110 Michele Dr Athens, GA	2.0	1.0	986	$1,050	$1.06	21d	1	0.74mi
115 Lake Dr Athens, GA	2.0	1.0	986	$1,050	$1.06	21d	1	0.75mi
200 Michele Dr Athens, GA	2.0	1.0	986	$1,050	$1.06	21d	1	0.76mi
121 Lake Dr Athens, GA	2.0	1.0	986	$1,050	$1.06	21d	1	0.76mi
195 Michele Dr Unit 197 Athens, GA	2.0	1.0	986	$1,050	$1.06	21d	1	0.82mi
119 Michele Pl Athens, GA	2.0	1.0	986	$1,050	$1.06	21d	1	0.83mi
330 Edgewood Dr Athens, GA	2.0	1.0	957	$1,150	$1.20	43d	1	0.85mi
255 Ferncliff Dr Athens, GA	3.0	2.0	1215	$1,995	$1.64	21d	1	0.88mi
260 Sherwood Dr Athens, GA	3.0	1.5	1186	$1,700	$1.43	43d	1	0.88mi
220 Clover St Athens, GA	3.0	2.0	1020	$1,800	$1.76	43d	1	1.04mi
183 Vaughn Rd Athens, GA	2.0	1.0	700	$1,200	$1.71	13d	1	1.04mi
700 Mitchell Bridge Rd Athens, GA	1.0–2.0	1.0–2.0	1121	$1,537	$1.37	13d	7	1.04mi
540 Oglethorpe Ave Athens, GA	2.0	1.0	900	$1,248	$1.39	13d	9	1.18mi
150 Bel Air Dr Athens, GA	3.0	2.0	1369	$2,195	$1.60	43d	1	1.23mi
1688 Prince Ave Athens, GA	2.0	1.0	928	$1,525	$1.64	43d	1	1.35mi
135 Lillian Dr Athens, GA	3.0	2.0	1430	$1,500	$1.05	43d	1	1.39mi
285 Willow Run Athens, GA	3.0	1.0	1025	$1,950	$1.90	43d	1	1.40mi
2505 W Broad St Athens, GA	2.0–3.0	2.0	1370	$2,300	$1.68	13d	5	1.40mi
355 The Preserve Dr Athens, GA	1.0–3.0	1.0–2.0	1166	$2,010	$1.72	21d	3	1.43mi
102 Whitehead Ter E Athens, GA	3.0	1.5	1416	$1,900	$1.34	21d	1	1.43mi
290 Sunset Dr Athens, GA	3.0	1.0	1152	$1,800	$1.56	43d	1	1.44mi
150 Chateau Ter Athens, GA	1.0–3.0	1.0–2.0	970	$1,527	$1.57	13d	12	1.49mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $159,000 Pending 30 DOM
2. 2026-06-02
   days on market $159,000 Active 27 DOM
3. 2026-06-01
   days on market $159,000 Active 26 DOM
4. 2026-05-31
   days on market $159,000 Active 25 DOM
5. 2026-05-30
   days on market $159,000 Active 24 DOM
6. 2026-05-05
   listed $170,000 Active 516-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: $2,031 · $169/mo
• Projected year-2 tax: $2,031 · $169/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,739
• − Mortgage interest: −$8,906
• − Property taxes: −$2,031
• − Insurance: −$795
• − Repairs & maintenance: −$1,579
• − Management: −$1,579
• − Depreciation: −$4,625
• Taxable income: $223
• Est. tax owed @ 24.0%: −$53
• After-tax cash flow: $2,709/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: Clarke County
• NCES district ID: 1301170
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $33,649
• Composite: 15.51/100
• National rank: #9302
• State rank: #146 of 174 in GA

Livability — Athens-Clarke County unified government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Athens-Clarke County unified government (balance), GA
• County: Clarke County · 126,008 people
• City population: 119,110
• Metro: Athens-Clarke County, GA
• Population (ZIP): 47,865
• Household income: $63,328
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3510.0

Population outlook (Clarke County) Hauer SSP2

• Today (2025): 141,365 people
• By 2030: 151,724 · +7.3%
• By 2040: 168,541 · +19.2%
• By 2050: 184,855 · +30.8%
• By 2075: 221,736 · +56.9%
• By 2100: 253,853 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Black 20% Hispanic / Latino 11% Two or more races 7% Asian 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 11% · Canada, China, Philippines
• Languages at home: 87% English-only · Spanish 7% Other Asian/Pacific 2% Chinese 1%

Political lean MEDSL · Clarke

• 2024 margin: Solid D (+38.3) · D 68.6% · R 30.4% · Other 1.0%
• 2008→2024 swing: +7.0pp toward D · 2008: 31.3pp · 2024: 38.3pp
• All cycles: 2024: D+38.3 2020: D+42.1 2016: D+38.0 2012: D+28.9 2008: D+31.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -454.63%
• Current HPI: 258.4817
• Rent YoY: ▲ 1.58%
• Metro: Athens-Clarke County, 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

-6.5% since first listed

3 events — show timeline

• 2026-06-05 Pending — FMLS
• 2026-05-28 Price Changed $159,000 FMLS
• 2026-05-05 Listed $170,000 FMLS

Property tax history

+11.6%/yr

Latest (2025): $2,031 · +199.1% YoY. Source: county tax records.