5534 Russell Ave · Eastman, GA 31023

$78,400

3 bd · 2.0 ba · 1,287 sqft · SingleFamily public records · 113 Days on market

Built 1970 0.34 ac lot $61/sqft · 24% below area Est $103k · 24% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Own Your own Home. Great starter for first time homeowner. 3 bedroom 1.5 Bath. Spacious Living Room Plus Den or offie. Large Backyard for Children and Pets to Play. This property is a HUD owned property, SOLD AS IS. check www.hudhomestore,org for more details. HUD Case # 106-416394

Key facts

• Large backyard
• Spacious living room
• 0.34 acre lot

Tags

• SPACIOUS LIVING ROOM
• LARGE BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Recommended offer: $71k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 6.3% in Eastman — 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 (#333 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Dodge County (rural): math 18% / reading 26% proficiency, ranked #139 of 174 in GA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 73 active listings in the ZIP; 13 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($542 loan paydown + $7k appreciation (8.8% local appreciation)).
• Dodge County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.8% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $57k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $71,344 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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 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?
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: 2.04% ✓
• Cap rate: 16.68%
• Cash-on-cash: 37.10%
• DSCR: 2.65
• GRM: 4.1

CMA / ARV

• ARV (median comp): $102,573
• List price: $78,400
• Delta: -23.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5625 Nancy Ave	0.11mi	3/1.5	1,172 (-9%)	1mo	$171,000	$146	77
502 Karen Dr	0.21mi	3/2.0	1,225 (-5%)	8mo	$175,000	$143	75
5717 Russell Ave	0.19mi	4/2.0 (+1)	1,348 (+5%)	11mo	$144,650	$107	70
220 Page St	0.42mi	3/2.0	1,366 (+6%)	5mo	$125,000	$92	66
5597 Dodge Ave	0.27mi	3/2.0	1,371 (+6%)	19mo	$192,000	$140	60
5559 Bacon Avenue Ave	0.11mi	2/1.0 (-1)	1,125 (-13%)	8mo	$143,000	$127	58
5334 3rd Ave	0.39mi	2/1.0 (-1)	1,376 (+7%)	15mo	$40,659	$30	49
139 Magnolia St	0.75mi	3/2.0	1,400 (+9%)	7mo	$168,000	$120	44
1108 College St	0.68mi	2/1.0 (-1)	1,134 (-12%)	6mo	$70,000	$62	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.2%
• Equity multiple: 4.63×
• Total profit: $79,596
• Equity at exit: $63,847

10-year hold

• IRR: 45.7%
• Equity multiple: 10.08×
• Total profit: $199,294
• Equity at exit: $131,054

Cash invested: $21,952 (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 31023

• Home prices YoY: 4.2%
• Active inventory: 73
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,595 medium
• Mortgage (P&I): −$411
• Tax from tax record: −$138 /mo · $1,656/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $679

Break-even live

Break-even rent $736

Max offer price $78,400

Occupancy floor 52%

Sensitivity live

Price	-10% $723	-5% $701	+0% $679	+5% $656	+10% $634
Rent	-10% $553	-5% $616	+0% $679	+5% $742	+10% $805
Rate	-1.0pp $718	-0.5pp $699	base $679	+0.5pp $658	+1.0pp $638

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: $19,600
• Closing costs: $2,352
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   pricestatusdays on market $78,400 Price Change 113 DOM
2. 2026-06-18
   days on market $89,200 Active 111 DOM
3. 2026-06-17
   days on market $89,200 Active 110 DOM
4. 2026-06-16
   days on market $89,200 Active 109 DOM
5. 2026-06-15
   days on market $89,200 Active 108 DOM
6. 2026-06-13
   days on market $89,200 Active 106 DOM
7. 2026-06-12
   days on market $89,200 Active 105 DOM
8. 2026-06-09
   days on market $89,200 Active 102 DOM
9. 2026-06-08
   days on market $89,200 Active 101 DOM
10. 2026-06-07
    days on market $89,200 Active 100 DOM
11. 2026-06-07
    days on market $89,200 Active 99 DOM
12. 2026-06-04
    days on market $89,200 Active 96 DOM
13. 2026-06-02
    days on market $89,200 Active 95 DOM
14. 2026-06-01
    days on market $89,200 Active 94 DOM
15. 2026-05-31
    days on market $89,200 Active 93 DOM
16. 2026-05-31
    statusdays on market $89,200 Active 92 DOM
17. 2026-05-19
    price $89,200 284-char remark

    Show marketing remark (284 chars)

    Own Your own Home. Great starter for first time homeowner. 3 bedroom 1.5 Bath. Spacious Living Room Plus Den or offie. Large Backyard for Children and Pets to Play. This property is a HUD owned property, SOLD AS IS. check www.hudhomestore,org for more details. HUD Case # 106-416394

18. 2026-04-17
    price $100,000 284-char remark

    Show marketing remark (284 chars)

    Own Your own Home. Great starter for first time homeowner. 3 bedroom 1.5 Bath. Spacious Living Room Plus Den or offie. Large Backyard for Children and Pets to Play. This property is a HUD owned property, SOLD AS IS. check www.hudhomestore,org for more details. HUD Case # 106-416394

19. 2026-03-17
    price $121,500 284-char remark

    Show marketing remark (284 chars)

    Own Your own Home. Great starter for first time homeowner. 3 bedroom 1.5 Bath. Spacious Living Room Plus Den or offie. Large Backyard for Children and Pets to Play. This property is a HUD owned property, SOLD AS IS. check www.hudhomestore,org for more details. HUD Case # 106-416394

20. 2026-02-25
    listed $135,000 New 284-char remark

    Show marketing remark (284 chars)

    Own Your own Home. Great starter for first time homeowner. 3 bedroom 1.5 Bath. Spacious Living Room Plus Den or offie. Large Backyard for Children and Pets to Play. This property is a HUD owned property, SOLD AS IS. check www.hudhomestore,org for more details. HUD Case # 106-416394

21. 2025-11-04
    historical
22. 2025-09-03
    price $129,900
23. 2025-07-16
    price $134,900
24. 2025-06-25
    price $146,900
25. 2025-06-04
    listed $147,900 New
26. 2022-03-21
    soldstatus $118,000
27. 2022-03-11
    soldstatus $118,000
28. 2022-03-11
    soldstatus $118,000 Sold
29. 2022-01-08
    status Under Contract
30. 2021-12-29
    listed $119,000
31. 2021-12-29
    listed $119,000 New
32. 2009-01-01
    soldstatus $48,500

ⓘ 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: $1,656 · $138/mo
• Projected year-2 tax: $1,656 · $138/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,146
• − Mortgage interest: −$4,392
• − Property taxes: −$1,656
• − Insurance: −$392
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − Depreciation: −$2,281
• Taxable income: $7,363
• Est. tax owed @ 24.0%: −$1,767
• After-tax cash flow: $6,377/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: Dodge County
• NCES district ID: 1301770
• Math proficiency: 18% ▼ -21.00%
• Reading proficiency: 26% ▼ -7.00%
• Median HH income: $34,856
• Composite: 18.1/100
• National rank: #8971
• State rank: #139 of 174 in GA

Livability — Eastman

• Score: 61/100
• State rank: #333
• US rank: #17509

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eastman, GA
• Population (ZIP): 14,257

Population outlook (Dodge County) Hauer SSP2

• Today (2025): 19,669 people
• By 2030: 18,784 · -4.5%
• By 2040: 16,878 · -14.2%
• By 2050: 14,837 · -24.6%
• By 2075: 9,804 · -50.2%
• By 2100: 5,885 · -70.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 25% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Dodge

• 2024 margin: Solid R (+49.9) · D 24.9% · R 74.8%
• 2008→2024 swing: -14.0pp toward R · 2008: -35.9pp · 2024: -49.9pp
• All cycles: 2024: R+49.9 2020: R+45.5 2016: R+45.5 2012: R+35.9 2008: R+35.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.79%
• Current HPI: 216.6501
• 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

+83.9% since first listed

16 events — show timeline

• 2026-05-19 Price Changed $89,200 GAMLS
• 2026-04-17 Price Changed $100,000 GAMLS
• 2026-03-17 Price Changed $121,500 GAMLS
• 2026-02-25 Listed $135,000 GAMLS
• 2025-11-04 Listing Removed — GAMLS
• 2025-09-03 Price Changed $129,900 GAMLS
• 2025-07-16 Price Changed $134,900 GAMLS
• 2025-06-25 Price Changed $146,900 GAMLS
• 2025-06-04 Listed $147,900 GAMLS
• 2022-03-21 Sold (Public Records) $118,000 Public Records
• 2022-03-11 Sold (MLS) $118,000 GAMLS
• 2022-03-11 Sold (MLS) $118,000 CGMLS
• 2022-01-08 Pending — GAMLS
• 2021-12-29 Listed $119,000 GAMLS
• 2021-12-29 Listed $119,000 CGMLS
• 2009-01-01 Sold (Public Records) $48,500 Public Records

Property tax history

+11.2%/yr

Latest (2025): $1,656 · +29.3% YoY. Source: county tax records.