697 Dry Pond Rd · Waleska, GA 30183

$102,500

3 bd · 2.0 ba · 1,344 sqft · SingleFamily public records · 268 Days on market

Built 1994 5.00 ac lot ↓ 2% 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
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Property is under contract.

Key facts

• 5 acre lot
• Pool
• Built 1994

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $102k.

Deal economics

• At list price, monthly cash flow is $755 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $102k).
• Recommended offer: $90k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 1.3% in Waleska — 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 47/100 on livability (#593 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Cherokee County (suburban): math 46% / reading 48% proficiency, ranked #17 of 174 in GA (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Teasley Middle School (math 28% / reading 37%, grade F, #221 of 470 statewide, top 48%, 1,606 students, 52% FRL); Cherokee High School (math 35% / reading 40%, grade F, #65 of 424 statewide, top 16%, 2,937 students, 38% FRL) — zoned schools average 45% FRL vs 26% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 35% at this address vs 47% district-wide (-12 pts) — the specific schools serving this property underperform the Cherokee County average; the district grade overstates school quality for this exact location.
• Market conditions: 212 active listings in the ZIP; 2,665 units permitted in Cherokee County in 2024 (852 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $709 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cherokee County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 268 days — a 12% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 268 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.73% ✓
• Cap rate: 15.13%
• Cash-on-cash: 31.57%
• DSCR: 2.40
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 26.5%
• Equity multiple: 2.10×
• Total profit: $31,471
• Equity at exit: $15,283

10-year hold

• IRR: 34.1%
• Equity multiple: 4.11×
• Total profit: $89,286
• Equity at exit: $8,862

Cash invested: $28,700 (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 30183

• Home prices YoY: -10.5%
• Active inventory: 212
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,775 medium
• Mortgage (P&I): −$538
• Tax from tax record: −$67 /mo · $803/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $755

Break-even live

Break-even rent $819

Max offer price $102,500

Occupancy floor 52%

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: $25,625
• Closing costs: $3,075
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2022-09-09
   status Pending
2. 2021-10-05
   status Under Contract
3. 2021-08-17
   historical Active Under Contract
4. 2019-02-06
   status Pending
5. 2017-04-24
   status Under Contract
6. 2017-04-24
   historical Pending
7. 2017-04-03
   historical
8. 2017-03-01
   price $102,500
9. 2017-02-28
   status Back on Market
10. 2017-02-28
    listed $102,500 Active
11. 2017-02-09
    historical
12. 2016-10-04
    price $107,900
13. 2016-08-24
    price $114,000
14. 2016-07-11
    listed $119,000 New
15. 2001-06-05
    soldstatus $104,100

ⓘ 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: $803 · $67/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: +$140/yr (+$12/mo · 17.4%)

ⓘ 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 4/10 Moderate 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,300
• − Mortgage interest: −$5,742
• − Property taxes: −$803
• − Insurance: −$512
• − Repairs & maintenance: −$1,704
• − Management: −$1,704
• − Depreciation: −$2,982
• Taxable income: $7,853
• Est. tax owed @ 24.0%: −$1,885
• After-tax cash flow: $7,176/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: Cherokee County
• NCES district ID: 1301110
• Math proficiency: 46% ▼ -11.00%
• Reading proficiency: 48% ▼ -8.00%
• Median HH income: $69,295
• Composite: 42.14/100
• National rank: #3304
• State rank: #17 of 174 in GA

Livability — Waleska

• Score: 47/100
• State rank: #593
• US rank: #26192

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,320

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 281,923 people
• By 2030: 303,845 · +7.8%
• By 2040: 344,738 · +22.3%
• By 2050: 379,010 · +34.4%
• By 2075: 449,617 · +59.5%
• By 2100: 484,103 · +71.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 4% Black 2%
• Common ancestry: Serbian 5% Slovak 4% Lithuanian 3%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 2% German/W. Germanic 2%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+39.0) · D 30.1% · R 69.1%
• 2008→2024 swing: +12.1pp toward D · 2008: -51.1pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+39.2 2016: R+50.0 2012: R+57.8 2008: R+51.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.43%
• Current HPI: 292.92
• 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

-1.5% since first listed

15 events — show timeline

• 2022-09-09 Pending — FMLS
• 2021-10-05 Pending — GAMLS
• 2021-08-17 Contingent — FMLS
• 2019-02-06 Pending — FMLS
• 2017-04-24 Pending — GAMLS
• 2017-04-24 Contingent — FMLS
• 2017-04-03 Listing Removed — FMLS
• 2017-03-01 Price Changed $102,500 GAMLS
• 2017-02-28 Relisted — GAMLS
• 2017-02-28 Listed $102,500 FMLS
• 2017-02-09 Listing Removed — GAMLS
• 2016-10-04 Price Changed $107,900 GAMLS
• 2016-08-24 Price Changed $114,000 GAMLS
• 2016-07-11 Listed $119,000 GAMLS
• 2001-06-05 Sold (Public Records) $104,100 Public Records

Property tax history

+1.0%/yr

Latest (2025): $803 · -0.1% YoY. Source: county tax records.