74 Hanshaw Dr · Rock Spring, GA 30739

$255,000

3 bd · 1.0 ba · 2,304 sqft · SingleFamily public records · 111 Days on market

Built 1979 1.61 ac lot $111/sqft · 31% below area Est $372k · 31% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.1/30.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• 1% rule +2.1/10.0
• Appreciation +1.7/10.0

Listing remarks MLS

Welcome home to this charming 3 bedroom, 2 1/2 bath home in a great location at 74 Hanshaw Drive in Rock Spring, Georgia. 1152 sq. ft. on main floor plus 1152 sq. ft. in full heated basement which offers extra storage space and room for expansion. The main floor includes a large kitchen which comes fully equipped with a dishwasher, refrigerator, and stove, a cozy dining area, living area, master bedroom and 2 other bedrooms, and 2 full bathrooms plus a half bath in the basement with privacy, comfort, and room to grow. This home features a deck with sitting area on back of home, a lovely brick and concrete front porch, and a concrete driveway. Step outside and enjoy a spacious 1.61 Acres, perfect for outdoor activities, gardening, or pets with a gorgeous open yard including a lot for another home. This property is zoned for the excellent Saddle Ridge Elementary and Middle Schools and LaFayette High School. Don't miss your opportunity to own this charming home that's move-in ready and full of potential.

Key facts

• Extra storage space
• Spacious 1.61 acres
• Full heated basement

Tags

• FULL HEATED BASEMENT
• EXTRA STORAGE SPACE
• DECK WITH SITTING AREA
• BRICK AND CONCRETE FRONT PORCH
• CONCRETE DRIVEWAY
• SPACIOUS 1.61 ACRES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-196 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (29.2% below list).
• Recommended offer: $181k (29.2% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.6% in Rock Spring — 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 D — affects rentability + tenant quality, not the cash-flow math above.
• 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: 57 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $84k; list at $255k implies a 204% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,600 (29.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.71% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.29%
• DSCR: 0.85
• GRM: 11.8

CMA / ARV

• ARV (median comp): $371,640
• List price: $255,000
• Delta: -31.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
89 Hicks Ln	0.23mi	4/2.0 (+1)	2,150 (-7%)	10mo	$425,000	$198	61
686 Ginger Lake Dr	0.44mi	3/3.0	2,273 (-1%)	12mo	$415,000	$183	60
61 Blue Herron Dr	0.48mi	3/3.5	2,194 (-5%)	10mo	$389,000	$177	51
714 Ginger Lake Dr	0.46mi	3/3.0	2,117 (-8%)	10mo	$357,000	$169	48
438 Ginger Lake Dr	0.40mi	3/3.0	2,050 (-11%)	12mo	$389,900	$190	45
115 Ginger Lake Dr	0.30mi	4/3.0 (+1)	2,151 (-7%)	24mo	$365,000	$170	42

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: -21.8%
• Equity multiple: 0.25×
• Total profit: $-53,856
• Equity at exit: $38,021

10-year hold

• IRR: -15.8%
• Equity multiple: 0.11×
• Total profit: $-63,201
• 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 30739

• Home prices YoY: -2.4%
• Active inventory: 57
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,806 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$179 /mo · $2,150/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $-196

Break-even live

Break-even rent $2,054

Max offer price $220,394

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-124	+0% $-196	+5% $-268	+10% $-340
Rent	-10% $-339	-5% $-267	+0% $-196	+5% $-125	+10% $-53
Rate	-1.0pp $-67	-0.5pp $-131	base $-196	+0.5pp $-262	+1.0pp $-329

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 23 events

1. 2026-06-18
   days on market $255,000 Active 111 DOM
2. 2026-06-17
   days on market $255,000 Active 110 DOM
3. 2026-06-16
   days on market $255,000 Active 109 DOM
4. 2026-06-15
   days on market $255,000 Active 108 DOM
5. 2026-06-14
   days on market $255,000 Active 106 DOM
6. 2026-06-13
   statusdays on market $255,000 Active 105 DOM
7. 2026-06-10
   days on market $255,000 Price Change 103 DOM
8. 2026-06-09
   days on market $255,000 Price Change 102 DOM
9. 2026-06-09
   pricestatus $255,000 Price Change 101 DOM
10. 2026-06-08
    days on market $265,000 Active 101 DOM
11. 2026-06-07
    days on market $265,000 Active 100 DOM
12. 2026-06-05
    days on market $265,000 Active 97 DOM
13. 2026-06-03
    days on market $265,000 Active 96 DOM
14. 2026-06-02
    days on market $265,000 Active 95 DOM
15. 2026-06-01
    days on market $265,000 Active 94 DOM
16. 2026-05-31
    days on market $265,000 Active 93 DOM
17. 2026-05-30
    days on market $265,000 Active 92 DOM
18. 2026-04-26
    price $265,000 1016-char remark

    Show marketing remark (1016 chars)

    Welcome home to this charming 3 bedroom, 2 1/2 bath home in a great location at 74 Hanshaw Drive in Rock Spring, Georgia. 1152 sq. ft. on main floor plus 1152 sq. ft. in full heated basement which offers extra storage space and room for expansion. The main floor includes a large kitchen which comes fully equipped with a dishwasher, refrigerator, and stove, a cozy dining area, living area, master bedroom and 2 other bedrooms, and 2 full bathrooms plus a half bath in the basement with privacy, comfort, and room to grow. This home features a deck with sitting area on back of home, a lovely brick and concrete front porch, and a concrete driveway. Step outside and enjoy a spacious 1.61 Acres, perfect for outdoor activities, gardening, or pets with a gorgeous open yard including a lot for another home. This property is zoned for the excellent Saddle Ridge Elementary and Middle Schools and LaFayette High School. Don't miss your opportunity to own this charming home that's move-in ready and full of potential.

19. 2026-04-10
    price $276,000 1016-char remark

    Show marketing remark (1016 chars)

    Welcome home to this charming 3 bedroom, 2 1/2 bath home in a great location at 74 Hanshaw Drive in Rock Spring, Georgia. 1152 sq. ft. on main floor plus 1152 sq. ft. in full heated basement which offers extra storage space and room for expansion. The main floor includes a large kitchen which comes fully equipped with a dishwasher, refrigerator, and stove, a cozy dining area, living area, master bedroom and 2 other bedrooms, and 2 full bathrooms plus a half bath in the basement with privacy, comfort, and room to grow. This home features a deck with sitting area on back of home, a lovely brick and concrete front porch, and a concrete driveway. Step outside and enjoy a spacious 1.61 Acres, perfect for outdoor activities, gardening, or pets with a gorgeous open yard including a lot for another home. This property is zoned for the excellent Saddle Ridge Elementary and Middle Schools and LaFayette High School. Don't miss your opportunity to own this charming home that's move-in ready and full of potential.

20. 2026-03-14
    price $285,000 1016-char remark

    Show marketing remark (1016 chars)

    Welcome home to this charming 3 bedroom, 2 1/2 bath home in a great location at 74 Hanshaw Drive in Rock Spring, Georgia. 1152 sq. ft. on main floor plus 1152 sq. ft. in full heated basement which offers extra storage space and room for expansion. The main floor includes a large kitchen which comes fully equipped with a dishwasher, refrigerator, and stove, a cozy dining area, living area, master bedroom and 2 other bedrooms, and 2 full bathrooms plus a half bath in the basement with privacy, comfort, and room to grow. This home features a deck with sitting area on back of home, a lovely brick and concrete front porch, and a concrete driveway. Step outside and enjoy a spacious 1.61 Acres, perfect for outdoor activities, gardening, or pets with a gorgeous open yard including a lot for another home. This property is zoned for the excellent Saddle Ridge Elementary and Middle Schools and LaFayette High School. Don't miss your opportunity to own this charming home that's move-in ready and full of potential.

21. 2026-02-09
    listed $299,000 New 1016-char remark

    Show marketing remark (1016 chars)

    Welcome home to this charming 3 bedroom, 2 1/2 bath home in a great location at 74 Hanshaw Drive in Rock Spring, Georgia. 1152 sq. ft. on main floor plus 1152 sq. ft. in full heated basement which offers extra storage space and room for expansion. The main floor includes a large kitchen which comes fully equipped with a dishwasher, refrigerator, and stove, a cozy dining area, living area, master bedroom and 2 other bedrooms, and 2 full bathrooms plus a half bath in the basement with privacy, comfort, and room to grow. This home features a deck with sitting area on back of home, a lovely brick and concrete front porch, and a concrete driveway. Step outside and enjoy a spacious 1.61 Acres, perfect for outdoor activities, gardening, or pets with a gorgeous open yard including a lot for another home. This property is zoned for the excellent Saddle Ridge Elementary and Middle Schools and LaFayette High School. Don't miss your opportunity to own this charming home that's move-in ready and full of potential.

22. 2016-08-26
    soldstatus $84,000
23. 1983-10-28
    soldstatus $9,600

ⓘ 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: $2,150 · $179/mo
• Projected year-2 tax: $2,346 · $196/mo
• Expected delta: +$196/yr (+$16/mo · 9.1%)

ⓘ 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 ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $21,672
• − Mortgage interest: −$14,284
• − Property taxes: −$2,150
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,734
• − Management: −$1,734
• − Depreciation: −$7,418
• Taxable loss: −$6,922
• Est. tax savings @ 24.0%: +$1,661
• After-tax cash flow: $-689/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 — Rock Spring

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

Census & demographics

• Population (ZIP): 6,854

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Black 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 4% Slovak 3% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -6.64%
• Current HPI: 267.6364
• 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

+2660.4% since first listed

6 events — show timeline

• 2026-04-26 Price Changed $265,000 GAMLS
• 2026-04-10 Price Changed $276,000 GAMLS
• 2026-03-14 Price Changed $285,000 GAMLS
• 2026-02-09 Listed $299,000 GAMLS
• 2016-08-26 Sold (Public Records) $84,000 Public Records
• 1983-10-28 Sold (Public Records) $9,600 Public Records

Property tax history

+37.4%/yr

Latest (2025): $2,150 · +6.2% YoY. Source: county tax records.