403 S Ware St · Alma, GA 31510

$69,000

2 bd · 2.0 ba · 1,342 sqft · SingleFamily public records · 89 Days on market

Built 1948 6,534 sqft lot $51/sqft · 39% below area Est $113k · 39% under ↓ 23% since listing

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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 +5.2/10.0
• Schools +3.5/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

2 bed/2 bath home NEEDS TLC or if you remove it the property can be rezoned. Great for a duplex/triplex or small storefront. Directly behind Circle K.

Key facts

• Small storefront
• Triplex
• Duplex

Tags

• DUPLEX
• TRIPLEX
• SMALL STOREFRONT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#530 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, schools F, crime F.
• Bacon County (rural): math 48% / reading 36% proficiency, ranked #43 of 174 in GA (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP.

Forward outlook

• In year one you build about $784 of equity ($477 loan paydown + $307 appreciation (0.4% local appreciation)).
• Bacon County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,859 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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: 1.60% ✓
• Cap rate: 13.10%
• Cash-on-cash: 24.31%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

• ARV (median comp): $113,476
• List price: $69,000
• Delta: -39.19%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 Dykes St	0.41mi	3/2.0 (+1)	1,253 (-7%)	10mo	$175,000	$140	57

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

Projected returns pro-forma

0.44% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.4%
• Equity multiple: 2.26×
• Total profit: $24,386
• Equity at exit: $21,583

10-year hold

• IRR: 28.8%
• Equity multiple: 4.32×
• Total profit: $64,138
• Equity at exit: $27,213

Cash invested: $19,320 (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 31510

• Home prices YoY: 0.2%
• Active inventory: 38
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,102 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$88 /mo · $1,058/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $391

Break-even live

Break-even rent $606

Max offer price $69,000

Occupancy floor 59%

Sensitivity live

Price	-10% $431	-5% $411	+0% $391	+5% $372	+10% $352
Rent	-10% $304	-5% $348	+0% $391	+5% $435	+10% $478
Rate	-1.0pp $426	-0.5pp $409	base $391	+0.5pp $374	+1.0pp $355

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $69,000 Active 89 DOM
2. 2026-06-18
   days on market $69,000 Active 87 DOM
3. 2026-06-17
   days on market $69,000 Active 86 DOM
4. 2026-06-16
   days on market $69,000 Active 85 DOM
5. 2026-06-15
   days on market $69,000 Active 84 DOM
6. 2026-06-13
   days on market $69,000 Active 82 DOM
7. 2026-06-12
   days on market $69,000 Active 81 DOM
8. 2026-06-09
   days on market $69,000 Active 78 DOM
9. 2026-06-08
   days on market $69,000 Active 77 DOM
10. 2026-06-07
    days on market $69,000 Active 76 DOM
11. 2026-06-05
    days on market $69,000 Active 74 DOM
12. 2026-06-04
    days on market $69,000 Active 72 DOM
13. 2026-06-02
    days on market $69,000 Active 71 DOM
14. 2026-06-01
    days on market $69,000 Active 70 DOM
15. 2026-05-31
    days on market $69,000 Active 69 DOM
16. 2026-05-31
    days on market $69,000 Active 68 DOM
17. 2026-04-06
    price $69,000 152-char remark

    Show marketing remark (152 chars)

    2 bed/2 bath home NEEDS TLC or if you remove it the property can be rezoned. Great for a duplex/triplex or small storefront. Directly behind Circle K.

18. 2026-03-23
    listed $77,000 New 152-char remark

    Show marketing remark (152 chars)

    2 bed/2 bath home NEEDS TLC or if you remove it the property can be rezoned. Great for a duplex/triplex or small storefront. Directly behind Circle K.

19. 2026-03-01
    historical
20. 2025-10-07
    price $77,000
21. 2025-10-02
    price $85,000
22. 2025-09-01
    listed $90,000 New

ⓘ 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: $1,058 · $88/mo
• Projected year-2 tax: $1,058 · $88/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,219
• − Mortgage interest: −$3,865
• − Property taxes: −$1,058
• − Insurance: −$345
• − Repairs & maintenance: −$1,057
• − Management: −$1,057
• − Depreciation: −$2,007
• Taxable income: $3,828
• Est. tax owed @ 24.0%: −$919
• After-tax cash flow: $3,779/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: Bacon County
• NCES district ID: 1300150
• Math proficiency: 48% ▬ 0.00%
• Reading proficiency: 36% ▼ -5.00%
• Median HH income: $35,087
• Composite: 34.79/100
• National rank: #5112
• State rank: #43 of 174 in GA

Livability — Alma

• Score: 54/100
• State rank: #530
• US rank: #23747

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alma, GA
• Population (ZIP): 9,592

Population outlook (Bacon County) Hauer SSP2

• Today (2025): 11,676 people
• By 2030: 11,831 · +1.3%
• By 2040: 12,066 · +3.3%
• By 2050: 12,250 · +4.9%
• By 2075: 12,308 · +5.4%
• By 2100: 11,278 · -3.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 17% Hispanic / Latino 10% Two or more races 7%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Bacon

• 2024 margin: Solid R (+73.2) · D 13.3% · R 86.5%
• 2008→2024 swing: -15.5pp toward R · 2008: -57.7pp · 2024: -73.2pp
• All cycles: 2024: R+73.2 2020: R+72.7 2016: R+68.5 2012: R+58.6 2008: R+57.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.44%
• Current HPI: 236.7103
• 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

-23.3% since first listed

6 events — show timeline

• 2026-04-06 Price Changed $69,000 GAMLS
• 2026-03-23 Listed $77,000 GAMLS
• 2026-03-01 Listing Removed — GAMLS
• 2025-10-07 Price Changed $77,000 GAMLS
• 2025-10-02 Price Changed $85,000 GAMLS
• 2025-09-01 Listed $90,000 GAMLS

Property tax history

+6.8%/yr

Latest (2025): $1,058 · -3.7% YoY. Source: county tax records.