118 Kathy St · Leesburg, GA 31763

$180,000

3 bd · 1.5 ba · 1,050 sqft · SingleFamily public records · 24 Days on market

Built 1989

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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).

• Cash flow +18.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +4.0/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming home located in the heart of Leesburg, convenient to downtown and all local schools. Many recent updates include a new HVAC system with new duct and vapor barrier, new windows, New Water Heater, New countertops, new flooring, New Paint inside and out. A MUST SEE!

Key facts

• New flooring
• New water heater
• New paint

Tags

• NEW HVAC SYSTEM
• NEW WINDOWS
• NEW WATER HEATER
• NEW COUNTERTOPS
• NEW FLOORING
• NEW PAINT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (9.6% below list).
• Recommended offer: $163k (9.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#135 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Lee County (rural): math 44% / reading 45% proficiency, ranked #21 of 174 in GA (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 203 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 133 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Lee County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 90% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,702 (9.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.90% ✗
• Cap rate: 7.53%
• Cash-on-cash: 4.42%
• DSCR: 1.20
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $61,950
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
146 Pine Ave	0.31mi	3/1.0	950 (-10%)	21mo	$56,500	$59	50

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 · 2.22% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-18,668
• Equity at exit: $26,839

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-6,401
• Equity at exit: $15,563

Cash invested: $50,400 (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 31763

• Home prices YoY: -15.9%
• Rents YoY: 2.2%
• Active inventory: 203
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,627 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$81 /mo · $968/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $186

Break-even live

Break-even rent $1,392

Max offer price $180,000

Occupancy floor 84%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
154 Nacoochee Dr Leesburg, GA	3.0	2.0	1040	$1,395	$1.34	21d	1	0.49mi
110 Twelve Oaks Ct Leesburg, GA	3.0	2.0	1277	$1,465	$1.15	21d	1	0.69mi
103 Ducker Ct Leesburg, GA	3.0	2.0	1491	$1,535	$1.03	43d	1	0.97mi

Listing history 18 events

1. 2026-06-19
   days on market $180,000 Active 24 DOM
2. 2026-06-18
   days on market $180,000 Active 23 DOM
3. 2026-06-17
   days on market $180,000 Active 22 DOM
4. 2026-06-16
   days on market $180,000 Active 21 DOM
5. 2026-06-15
   days on market $180,000 Active 20 DOM
6. 2026-06-14
   days on market $180,000 Active 18 DOM
7. 2026-06-13
   days on market $180,000 Active 17 DOM
8. 2026-06-10
   days on market $180,000 Active 15 DOM
9. 2026-06-09
   days on market $180,000 Active 14 DOM
10. 2026-06-08
    days on market $180,000 Active 13 DOM
11. 2026-06-07
    days on market $180,000 Active 12 DOM
12. 2026-06-05
    days on market $180,000 Active 9 DOM
13. 2026-06-03
    days on market $180,000 Active 8 DOM
14. 2026-06-02
    days on market $180,000 Active 7 DOM
15. 2026-06-01
    days on market $180,000 Active 6 DOM
16. 2026-05-31
    days on market $180,000 Active 5 DOM
17. 2026-05-30
    days on market $180,000 Active 4 DOM
18. 2026-05-26
    listed $180,000 Active

ⓘ 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: $968 · $81/mo
• Projected year-2 tax: $1,656 · $138/mo
• Expected delta: +$688/yr (+$57/mo · 71.1%)

ⓘ 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 7/10 Severe 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 90% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,524
• − Mortgage interest: −$10,083
• − Property taxes: −$968
• − Insurance: −$900
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − Depreciation: −$5,236
• Taxable loss: −$787
• Est. tax savings @ 24.0%: +$189
• After-tax cash flow: $2,418/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: Lee County
• NCES district ID: 1303270
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $60,449
• Composite: 39.23/100
• National rank: #4009
• State rank: #21 of 174 in GA

Livability — Leesburg

• Score: 68/100
• State rank: #135
• US rank: #9283

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leesburg, GA
• County: Lee County · 29,271 people
• City population: 29,271
• Metro: Albany, GA
• Population (ZIP): 29,271
• Household income: $88,312
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 700.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 31,140 people
• By 2030: 31,753 · +2.0%
• By 2040: 32,710 · +5.0%
• By 2050: 33,476 · +7.5%
• By 2075: 35,113 · +12.8%
• By 2100: 34,821 · +11.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 24% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Korean 1% Other Indo-European 1%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+43.5) · D 28.0% · R 71.6%
• 2008→2024 swing: +8.6pp toward D · 2008: -52.1pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+44.6 2016: R+53.0 2012: R+52.4 2008: R+52.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.33%
• Current HPI: 187.3672
• Rent YoY: ▲ 2.22%
• Metro: Albany, 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

1 event — show timeline

• 2026-05-26 Listed $180,000 FSBO.com

Property tax history

+2.3%/yr

Latest (2024): $968 · -0.2% YoY. Source: county tax records.