103 Grady St · Thomson, GA 30824

$320,000

9 bd · 3.9 ba · 4,784 sqft · MultiFamily · 41 Days on market

Built 1965 Average condition 0.39 ac lot $67/sqft · 49% below area Est $628k · 49% under

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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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.4/10.0
• Livability +3.1/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

A strong investment opportunity in the heart of Thomson, this fully occupied 4plex offers consistent cash flow, recent improvements, and excellent long term potential. Situated on a corner lot, the property provides easy access, good visibility, and reliable rental demand. Four 2Bedroom / 1Bath Units *** New Roof for reduced maintenance and long term durability ***Individual Power Meters-tenants pay their own electricity ***Current Monthly Rent Roll: $2,875 ***Positive Cash Flow with room for future rent optimization ***Corner Lot offering added privacy and accessibility. The property is located close to downtown amenities, schools, and major routes, ensuring steady rental demand making this 4-plex an attractive option for both new and seasoned investors. Please note, pics were taken before current tenant moved in each unit.

Key facts

• Easy access
• Good visibility
• Recent improvements

Tags

• INVESTMENT OPPORTUNITY
• FULLY OCCUPIED
• RECENT IMPROVEMENTS
• CORNER LOT
• EASY ACCESS
• GOOD VISIBILITY

Property features AI

Finance

• Financial info: Multiple rental units with current actual rents reported (examples: $750, $700, $700, $725)

Exterior

• Parking: Parking lot; Additional parking areas; Gravel and aggregate surfaces
• Utilities: Public water; Electricity connected; Sewer connected; Water connected
• Home design: Residential income property — Quadruplex; Two-story building; Multiple entry levels
• Construction: Block, aluminum siding, and stucco construction; Shingle roof; Crawl space foundation; Built as a multi-unit property (quadruplex)
• Exterior features: Covered front porch; Corner lot; Has a view

Interior

• Kitchen: Refrigerator; Range; Electric water heater
• Bedrooms: Multiple 2-bedroom units (each unit listed as 2 bedrooms)
• Flooring: Carpet; Vinyl
• Heating & cooling: Heat pump heating and cooling; Baseboard heating; Electric heating; Central air; Wall/window unit(s)
• Interior features: High ceilings; Unfurnished units
• Laundry & utility: Laundry closet

🏷️ Possibly a rental listed for sale. The $320,000 price doesn't fit this home's estimated sale value (~$628,388) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $320k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $933 ($11k/yr) — positive. Per door: $311/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Recommended offer: $310k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.8% in Thomson — 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 (#357 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Mcduffie County (rural): math 12% / reading 19% proficiency, ranked #156 of 174 in GA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Thomson Elementary School (math 17% / reading 22%, grade F, #878 of 1,228 statewide, top 75%, 292 students, 90% FRL); Thomson-Mcduffie Middle School (math 9% / reading 20%, grade F, #403 of 470 statewide, top 86%, 782 students, 89% FRL); Thomson High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 986 students, 89% FRL) — zoned schools average 89% FRL vs 65% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 193 active listings in the ZIP; 64 units permitted in McDuffie County in 2024 (0 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 $10k of value loss. Plan a longer hold.
• McDuffie County population projected at -18% 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 $90k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $310,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.49%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (median comp): $628,388
• List price: $320,000
• Delta: -49.08%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.08×
• Total profit: $7,614
• Equity at exit: $47,713

10-year hold

• IRR: 11.8%
• Equity multiple: 1.93×
• Total profit: $83,371
• Equity at exit: $27,668

Cash invested: $89,600 (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 30824

• Home prices YoY: -7.3%
• Active inventory: 193
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $3,980 medium
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,800/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$836
• Net cashflow: $933

Break-even live

Break-even rent $2,799

Max offer price $320,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,154	-5% $1,043	+0% $933	+5% $822	+10% $712
Rent	-10% $618	-5% $776	+0% $933	+5% $1,090	+10% $1,247
Rate	-1.0pp $1,094	-0.5pp $1,014	base $933	+0.5pp $850	+1.0pp $765

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$3,981
Total (3 units)			$3,980

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $320,000 Active 41 DOM
2. 2026-06-21
   days on market $320,000 Active 40 DOM
3. 2026-06-18
   days on market $320,000 Active 38 DOM
4. 2026-06-17
   days on market $320,000 Active 37 DOM
5. 2026-06-16
   days on market $320,000 Active 36 DOM
6. 2026-06-15
   days on market $320,000 Active 35 DOM
7. 2026-06-13
   days on market $320,000 Active 33 DOM
8. 2026-06-12
   days on market $320,000 Active 32 DOM
9. 2026-06-09
   days on market $320,000 Active 29 DOM
10. 2026-06-08
    days on market $320,000 Active 28 DOM
11. 2026-06-07
    days on market $320,000 Active 27 DOM
12. 2026-06-07
    days on market $320,000 Active 26 DOM
13. 2026-06-04
    days on market $320,000 Active 23 DOM
14. 2026-06-02
    days on market $320,000 Active 22 DOM
15. 2026-06-01
    days on market $320,000 Active 21 DOM
16. 2026-05-31
    days on market $320,000 Active 20 DOM
17. 2026-05-31
    days on market $320,000 Active 19 DOM
18. 2026-05-11
    listed $320,000 Active 871-char remark
19. 2026-05-08
    listed $320,000 New 843-char remark

    Show marketing remark (843 chars)

    A strong investment opportunity in the heart of Thomson, this fully occupied 4plex offers consistent cash flow, recent improvements, and excellent long term potential. Situated on a corner lot, the property provides easy access, good visibility, and reliable rental demand. Four 2Bedroom / 1Bath Units *** New Roof for reduced maintenance and long term durability ***Individual Power Meters-tenants pay their own electricity ***Current Monthly Rent Roll: $2,875 ***Positive Cash Flow with room for future rent optimization ***Corner Lot offering added privacy and accessibility. The property is located close to downtown amenities, schools, and major routes, ensuring steady rental demand making this 4-plex an attractive option for both new and seasoned investors. Please note, pics were taken before current tenant moved in each unit.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $47,760
• − Mortgage interest: −$17,925
• − Property taxes: −$4,800
• − Insurance: −$1,600
• − Repairs & maintenance: −$3,821
• − Management: −$3,821
• − Depreciation: −$9,309
• Taxable income: $6,484
• Est. tax owed @ 24.0%: −$1,556
• After-tax cash flow: $9,637/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

This 4plex offers a good investment opportunity with recent improvements and excellent long-term potential. However, it requires some cosmetic updates and maintenance to fully maximize its value.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear.
• Minor Bathroom fixtures — Older style and need updating.
• Moderate Exterior siding — Weathered and discolored, needs repainting or replacement.
• Minor Carpeted floors — Worn and could be replaced with hardwood or tile for a fresh look.
• Minor Paint — Faded in some areas, could be refreshed with a fresh coat of paint.
• Major Landscaping — Overgrown and needs trimming and planting to improve curb appeal.

Value-add opportunities

• Both Painting and updating fixtures — Fresh paint and updated fixtures can improve both resale and rental value.
• Both Landscaping and curb appeal — Improved landscaping can significantly boost curb appeal and attract more potential buyers or renters.
• Both New flooring in bedrooms and living areas — Replacing worn carpet with hardwood or tile can enhance the overall look and feel of the home, increasing its value.
• Both Kitchen and bathroom updates — Updating appliances and fixtures can make the home more appealing to potential buyers and renters, increasing its value.
• Both HVAC maintenance — A well-maintained HVAC system ensures comfort and energy efficiency, which can attract more tenants and buyers, and reduce utility costs.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear and tear.	Minor	$500–3,000
Bathroom fixtures · Older style and need updating.	Minor	$500–3,000
Exterior siding · Weathered and discolored, needs repainting or replacement.	Moderate	$3,000–15,000
Carpeted floors · Worn and could be replaced with hardwood or tile for a fresh look.	Minor	$500–3,000
Paint · Faded in some areas, could be refreshed with a fresh coat of paint.	Minor	$500–3,000
Landscaping · Overgrown and needs trimming and planting to improve curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$20,000–77,000

Value-add ROI direction

• Both Painting and updating fixtures — Fresh paint and updated fixtures can improve both resale and rental value. ↑
• Both Landscaping and curb appeal — Improved landscaping can significantly boost curb appeal and attract more potential buyers or renters. ↑
• Both New flooring in bedrooms and living areas — Replacing worn carpet with hardwood or tile can enhance the overall look and feel of the home, increasing its value. ↑
• Both Kitchen and bathroom updates — Updating appliances and fixtures can make the home more appealing to potential buyers and renters, increasing its value. ↑
• Both HVAC maintenance — A well-maintained HVAC system ensures comfort and energy efficiency, which can attract more tenants and buyers, and reduce utility costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mcduffie County
• NCES district ID: 1303570
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 19% ▼ -8.00%
• Median HH income: $37,658
• Composite: 12.98/100
• National rank: #9570
• State rank: #156 of 174 in GA

Livability — Thomson

• Score: 61/100
• State rank: #357
• US rank: #18372

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomson, GA
• Population (ZIP): 17,181

Population outlook (McDuffie County) Hauer SSP2

• Today (2025): 20,590 people
• By 2030: 19,922 · -3.2%
• By 2040: 18,451 · -10.4%
• By 2050: 16,898 · -17.9%
• By 2075: 13,647 · -33.7%
• By 2100: 10,421 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 49% Black 46% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · McDuffie

• 2024 margin: Strong R (+24.9) · D 37.4% · R 62.3%
• 2008→2024 swing: -10.0pp toward R · 2008: -14.9pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+19.1 2016: R+18.7 2012: R+15.0 2008: R+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.21%
• Current HPI: 243.7734
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-11 Listed $320,000 Hive MLS
• 2026-05-08 Listed $320,000 GAMLS