The Pearson Plan · Eatonton, GA 31024

$266,400

3 bd · 2.0 ba · 1,701 sqft · SingleFamily · 831 Days on market

Excellent condition ↓ 9% since listing

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Why this score? — see what drove the F 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 +8.5/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Livability +3.6/5.0
• Schools +2.9/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Pearson ranch greets you with a welcoming front porch. Thoughtfully laid out to maximize each space to the fullest, you'll find a dining area that opens to a surprisingly large kitchen with an optional center island. A family room leads to the backyard and reveals a private entry to the owner's suite with a walk-in closet and an en suite bath. Owners will find a convenient mud room and laundry just off the garage entry to maximize organization.

Key facts

• kitchen island
• owner's suite
• Front porch

Tags

• FRONT PORCH
• DINING AREA
• KITCHEN ISLAND
• FAMILY ROOM
• BACKYARD ENTRY
• OWNER'S SUITE

🏗️ New construction. The $266,400 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $316,945.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $266k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-279 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (9.2% below list).
• Recommended offer: $234k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.2% vs local median 3.1% in Eatonton — 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 71/100 on livability (#76 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Putnam County (rural): math 33% / reading 30% proficiency, ranked #86 of 174 in GA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Putnam County Primary School (756 students, 81% FRL); Putnam County Middle School (math 31% / reading 33%, grade F, #229 of 470 statewide, top 49%, 681 students, 81% FRL); Putnam County High School (math 8% / reading 32%, grade F, #238 of 424 statewide, top 57%, 919 students, 81% FRL).
• Market conditions: 729 active listings in the ZIP; 129 units permitted in Putnam County in 2024 (50 in 5+ unit buildings).
• This rent runs 44% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Putnam County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 831 days — a 12% lower offer ($234k) is reasonable based on typical stale-listing flexibility.

Recommended offer $234,432 (12.0% 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 831 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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: 0.76% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.77%
• DSCR: 0.83
• GRM: 10.9

CMA / ARV

• ARV (median comp): $316,945
• List price: $266,400
• Delta: -15.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Timber Way Ct	0.24mi	3/2.0	1,701 (0%)	2mo	$320,000	$188	87
157 Creekside Rd Unit (LOT 32)	0.22mi	3/2.0	1,679 (-1%)	5mo	$323,315	$193	83
124 Creekside Rd Unit (LOT 47)	0.19mi	3/2.0	1,679 (-1%)	11mo	$305,270	$182	80
135 Creekside Rd Unit (LOT 21)	0.29mi	3/2.0	1,679 (-1%)	9mo	$330,245	$197	77
139 Creekside Rd Lot 23	0.22mi	3/2.0	1,826 (+7%)	1mo	$298,525	$163	76
153 Creekside Rd Unit (LOT 30)	0.36mi	3/2.0	1,679 (-1%)	6mo	$298,835	$178	76
145 Creekside Rd Unit (LOT 26)	0.22mi	3/2.0	1,826 (+7%)	4mo	$316,905	$174	74
122 Creekside Rd Unit (LOT 48)	0.19mi	3/2.0	1,826 (+7%)	10mo	$307,800	$169	70
179 Garrett Dr	0.39mi	3/2.0	1,758 (+3%)	11mo	$283,000	$161	68
127 Creekside Rd Unit (LOT 18)	0.24mi	3/2.0	1,826 (+7%)	12mo	$314,925	$172	67
118 Garrett Dr	0.60mi	3/2.0	1,828 (+8%)	6mo	$324,000	$177	54
103 Jack Ct	0.69mi	3/2.0	1,830 (+8%)	6mo	$320,000	$175	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.6%
• Equity multiple: 0.22×
• Total profit: $-69,075
• Equity at exit: $47,258

10-year hold

• IRR: -16.9%
• Equity multiple: 0.07×
• Total profit: $-82,861
• Equity at exit: $27,404

Cash invested: $88,745 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 4 under contract
• Months of supply: 4.0 mo (25%/mo absorbed)
• Median asking: $274,900 ($144/sqft)
• Median days on market: 831 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +29.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 31024

• Active inventory: 729
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,420 medium
• Mortgage (P&I): −$1,662
• Tax est. 1.5%: −$396 /mo · $4,754/yr
• Insurance: −$132
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-279

Break-even live

Break-even rent $2,773

Max offer price $276,611

Occupancy floor —

Sensitivity live

Price	-10% $-60	-5% $-169	+0% $-279	+5% $-388	+10% $-498
Rent	-10% $-470	-5% $-374	+0% $-279	+5% $-183	+10% $-88
Rate	-1.0pp $-119	-0.5pp $-198	base $-279	+0.5pp $-361	+1.0pp $-444

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: $79,236
• Closing costs: $9,508
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-09-23
   days on market $266,400 Active 831 DOM
2. 2026-09-21
   days on market $266,400 Active 829 DOM
3. 2026-09-20
   days on market $266,400 Active 828 DOM
4. 2026-09-19
   days on market $266,400 Active 827 DOM
5. 2026-09-18
   days on market $266,400 Active 826 DOM
6. 2026-09-17
   days on market $266,400 Active 825 DOM
7. 2026-09-16
   days on market $266,400 Active 824 DOM
8. 2026-09-15
   days on market $266,400 Active 823 DOM
9. 2026-09-14
   days on market $266,400 Active 822 DOM
10. 2026-09-13
    days on market $266,400 Active 821 DOM
11. 2026-09-12
    days on market $266,400 Active 820 DOM
12. 2026-09-11
    days on market $266,400 Active 819 DOM
13. 2026-09-05
    days on market $266,400 Active 813 DOM
14. 2026-09-04
    days on market $266,400 Active 812 DOM
15. 2026-09-03
    days on market $266,400 Active 811 DOM
16. 2026-09-02
    days on market $266,400 Active 810 DOM
17. 2026-08-30
    days on market $266,400 Active 807 DOM
18. 2026-08-29
    days on market $266,400 Active 806 DOM
19. 2026-08-28
    days on market $266,400 Active 805 DOM
20. 2026-08-27
    days on market $266,400 Active 804 DOM
21. 2026-08-26
    days on market $266,400 Active 803 DOM
22. 2026-08-25
    days on market $266,400 Active 802 DOM
23. 2026-08-24
    days on market $266,400 Active 801 DOM
24. 2026-08-23
    days on market $266,400 Active 800 DOM
25. 2026-08-22
    days on market $266,400 Active 799 DOM
26. 2026-08-21
    days on market $266,400 Active 798 DOM
27. 2026-08-20
    days on market $266,400 Active 797 DOM
28. 2026-08-19
    days on market $266,400 Active 796 DOM
29. 2026-08-18
    days on market $266,400 Active 795 DOM
30. 2026-08-17
    days on market $266,400 Active 794 DOM
31. 2026-08-16
    days on market $266,400 Active 793 DOM
32. 2026-08-15
    days on market $266,400 Active 792 DOM
33. 2026-08-14
    days on market $266,400 Active 791 DOM
34. 2026-08-13
    days on market $266,400 Active 790 DOM
35. 2026-08-12
    days on market $266,400 Active 789 DOM
36. 2026-08-11
    days on market $266,400 Active 788 DOM
37. 2026-08-10
    days on market $266,400 Active 787 DOM
38. 2026-08-09
    days on market $266,400 Active 786 DOM
39. 2026-08-08
    days on market $266,400 Active 785 DOM
40. 2026-08-07
    days on market $266,400 Active 784 DOM
41. 2026-08-06
    days on market $266,400 Active 783 DOM
42. 2026-08-05
    days on market $266,400 Active 782 DOM
43. 2026-08-04
    days on market $266,400 Active 781 DOM
44. 2026-08-03
    days on market $266,400 Active 780 DOM
45. 2026-07-31
    days on market $266,400 Active 777 DOM
46. 2026-07-30
    days on market $266,400 Active 776 DOM
47. 2026-07-29
    days on market $266,400 Active 775 DOM
48. 2026-07-27
    days on market $266,400 Active 773 DOM
49. 2026-07-25
    days on market $266,400 Active 771 DOM
50. 2026-07-24
    days on market $266,400 Active 770 DOM

ⓘ 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: $29,037
• − Mortgage interest: −$17,754
• − Property taxes: −$4,754
• − Insurance: −$1,585
• − Repairs & maintenance: −$2,323
• − Management: −$2,323
• − Depreciation: −$9,220
• Taxable loss: −$8,922
• Est. tax savings @ 24.0%: +$2,141
• After-tax cash flow: $-1,204/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

Excellent 100/100 None rehab

This home is in excellent condition with no visible repairs needed. It offers a modern kitchen, well-maintained bathrooms, and a clean interior. The exterior is in good condition, and the landscaping is well-maintained. The property is move-in ready and would benefit from a fresh coat of paint and landscaping improvements.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Add smart home features — Improves convenience and adds modern appeal ↑

F Composite school gradezoned avg 29/100

Zoned Schools

Elementary Putnam County Elementary School F GA #523/1,228 Nat'l #22,904/41,679 Middle Putnam County Middle School F GA #229/470 Nat'l #8,317/14,009 High Putnam County High School F GA #238/424 Nat'l #14,291/17,239

Schools (NCES district)

• District: Putnam County
• NCES district ID: 1304260
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $44,038
• Composite: 26.9/100
• National rank: #7088
• State rank: #86 of 174 in GA

B Composite livability gradescore 71/100

Livability — Eatonton

• Score: 71/100
• State rank: #76
• US rank: #6665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Putnam County · 20,747 people
• City population: 21,601
• Metro: nan
• Population (ZIP): 21,601
• Household income: $65,971
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 3% of renters

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Population outlook (Putnam County) Hauer SSP2

• Today (2025): 20,747 people
• By 2030: 20,163 · -2.8%
• By 2040: 18,680 · -10.0%
• By 2050: 17,117 · -17.5%
• By 2075: 13,269 · -36.0%
• By 2100: 9,234 · -55.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 5%

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Political lean MEDSL · Putnam

• 2024 margin: Solid R (+42.2) · D 28.7% · R 71.0%
• 2008→2024 swing: -10.9pp toward R · 2008: -31.4pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.9 2016: R+40.0 2012: R+35.8 2008: R+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.84%
• Current HPI: 269.8265
• Rent YoY: —
• Metro: nan
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

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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

-9.4% since first listed

4 events — show timeline

• 2026-02-09 Price Changed $266,400 Zillow
• 2025-06-12 Price Changed $276,400 Zillow
• 2025-06-04 Price Changed $276,900 Zillow
• 2024-06-14 Listed $293,900 Zillow