808 Mclemore St · LaFayette, GA 30728

$49,900

2 bd · 1.0 ba · 910 sqft · SingleFamily public records · 187 Days on market

Built 1932 0.29 ac lot $55/sqft · 67% below area ↓ 15% since listing

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This house has been gutted. It is a complete rehab or a tear down. There is a large storage shed and a large metal carport. Zoned R-2 for multi-family or single family. Do not enter house. Listing agent is relative of seller.

Key facts

• Zoned r-2
• Large metal carport
• Large storage shed

Tags

• LARGE STORAGE SHED
• LARGE METAL CARPORT
• ZONED R-2

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $689 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.9% vs local median 4.1% in LaFayette — 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 61/100 on livability (#345 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, schools F, amenities F.
• Walker County (rural): math 25% / reading 29% proficiency, ranked #114 of 174 in GA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 218 active listings in the ZIP; 347 units permitted in Walker County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Walker County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 2.49% ✓
• Cap rate: 22.86%
• Cash-on-cash: 59.16%
• DSCR: 3.63
• GRM: 3.3

CMA / ARV

• ARV (median comp): $152,817
• List price: $49,900
• Delta: -67.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
607 Colerain St	0.21mi	2/1.0	924 (+2%)	13mo	$169,000	$183	76
705 Mclemore St	0.12mi	3/1.0 (+1)	1,006 (+10%)	4mo	$20,000	$20	68
703 Bomar St	0.38mi	3/1.0 (+1)	960 (+6%)	3mo	$180,000	$188	65
1102 Chestnut St	0.32mi	3/2.0 (+1)	925 (+2%)	10mo	$163,000	$176	65
1103 Sisemore St	0.34mi	3/1.5 (+1)	984 (+8%)	7mo	$155,000	$158	58
708 Daugherty St	0.30mi	2/1.0	968 (+6%)	22mo	$150,000	$155	58
705 Bomar St	0.37mi	3/2.0 (+1)	945 (+4%)	12mo	$182,500	$193	57
607 Thornton St	0.33mi	3/2.0 (+1)	1,008 (+11%)	1mo	$170,000	$169	57
603 Daugherty St	0.36mi	2/1.0	1,006 (+10%)	14mo	$143,000	$142	54
409 Daugherty St	0.40mi	2/1.0	1,012 (+11%)	13mo	$30,000	$30	52
102 S Flora St	0.57mi	2/2.0	944 (+4%)	20mo	$198,500	$210	47
122 Pledger St	0.72mi	3/1.0 (+1)	1,000 (+10%)	11mo	$190,000	$190	35

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: 57.8%
• Equity multiple: 3.56×
• Total profit: $35,775
• Equity at exit: $7,440

10-year hold

• IRR: 62.6%
• Equity multiple: 7.27×
• Total profit: $87,595
• Equity at exit: $4,314

Cash invested: $13,972 (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 30728

• Home prices YoY: -14.2%
• Active inventory: 218
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,244 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$12 /mo · $139/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $689

Break-even live

Break-even rent $372

Max offer price $49,900

Occupancy floor 40%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $49,900 Active 187 DOM
2. 2026-06-17
   days on market $49,900 Active 186 DOM
3. 2026-06-16
   days on market $49,900 Active 185 DOM
4. 2026-06-15
   days on market $49,900 Active 184 DOM
5. 2026-06-14
   days on market $49,900 Active 182 DOM
6. 2026-06-13
   days on market $49,900 Active 181 DOM
7. 2026-06-10
   days on market $49,900 Active 179 DOM
8. 2026-06-09
   days on market $49,900 Active 178 DOM
9. 2026-06-09
   price $49,900 Active 177 DOM
10. 2026-06-08
    days on market $54,900 Active 177 DOM
11. 2026-06-07
    days on market $54,900 Active 176 DOM
12. 2026-06-05
    days on market $54,900 Active 173 DOM
13. 2026-06-03
    days on market $54,900 Active 172 DOM
14. 2026-06-02
    days on market $54,900 Active 171 DOM
15. 2026-06-01
    days on market $54,900 Active 170 DOM
16. 2026-05-31
    days on market $54,900 Active 169 DOM
17. 2026-05-30
    days on market $54,900 Active 168 DOM
18. 2026-01-21
    price $54,900 225-char remark

    Show marketing remark (225 chars)

    This house has been gutted. It is a complete rehab or a tear down. There is a large storage shed and a large metal carport. Zoned R-2 for multi-family or single family. Do not enter house. Listing agent is relative of seller.

19. 2025-12-13
    listed $64,900 Active 225-char remark

    Show marketing remark (225 chars)

    This house has been gutted. It is a complete rehab or a tear down. There is a large storage shed and a large metal carport. Zoned R-2 for multi-family or single family. Do not enter house. Listing agent is relative of seller.

ⓘ 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: $139 · $12/mo
• Projected year-2 tax: $459 · $38/mo
• Expected delta: +$320/yr (+$27/mo · 230.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,930
• − Mortgage interest: −$2,795
• − Property taxes: −$139
• − Insurance: −$250
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$1,452
• Taxable income: $7,906
• Est. tax owed @ 24.0%: −$1,897
• After-tax cash flow: $6,369/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: Walker County
• NCES district ID: 1305370
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $39,889
• Composite: 22.74/100
• National rank: #8035
• State rank: #114 of 174 in GA

Livability — LaFayette

• Score: 61/100
• State rank: #345
• US rank: #17893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: LaFayette, GA
• County: Walker County · 48,831 people
• City population: 18,790
• Metro: Chattanooga, TN-GA
• Population (ZIP): 18,790
• Household income: $55,455
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 233.0

Population outlook (Walker County) Hauer SSP2

• Today (2025): 66,050 people
• By 2030: 64,305 · -2.6%
• By 2040: 60,127 · -9.0%
• By 2050: 55,551 · -15.9%
• By 2075: 44,886 · -32.0%
• By 2100: 34,015 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 2%
• Foreign-born: 2% · South Korea
• Languages at home: 97% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Walker

• 2024 margin: Solid R (+59.3) · D 20.1% · R 79.4%
• 2008→2024 swing: -12.5pp toward R · 2008: -46.8pp · 2024: -59.3pp
• All cycles: 2024: R+59.3 2020: R+59.3 2016: R+61.5 2012: R+50.2 2008: R+46.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.02%
• Current HPI: 271.2944
• Rent YoY: —
• Metro: Chattanooga, TN-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

-15.4% since first listed

2 events — show timeline

• 2026-01-21 Price Changed $54,900 GCAR
• 2025-12-13 Listed $64,900 GCAR

Property tax history

+31.2%/yr

Latest (2025): $139 · -85.8% YoY. Source: county tax records.