1038 Qodesh Ln · Calvary, GA 32312

$200,000

3 bd · 1.5 ba · 1,140 sqft · SingleFamily public records · 1 Days on market

Built 1964 1.01 ac lot

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Why this score? — see what drove the C 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 +24.2/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +4.3/10.0
• Rent growth +3.0/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this beautiful home in the quiet the North Tallahassee countryside! This home is a 3 bedroom, 1.5 bath sitting on the Ochlockonee River on just over an acre. Make sure to bring your fishing pole as there are a variety of different fish to catch off your own dock. You will also find that this home offers a big back porch so you can enjoy cooking out, or just relaxing, watching the wildlife.

Key facts

• Privately owned land
• 1.01 acres
• Real wood floors

Tags

• MID-CENTURY CABIN
• 1.01 ACRES
• NO HOA
• PRIVATELY OWNED LAND
• EAST AND WEST FACING VIEWS
• REAL WOOD FLOORS

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Carport (1 space); Driveway (one space)
• Utilities: Septic tank
• Home design: Single-story; Wood siding construction
• Construction: Wood siding
• Exterior features: Deck; Patio; Partial fencing; Waterfront with river access; Property has a view

Interior

• Kitchen: Oven; Range; Microwave; Refrigerator
• Bedrooms: Bedroom 2 (15x8); Bedroom 3 (16x8)
• Flooring: Hardwood; Plank; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Tray and vaulted ceilings; Entrance foyer; Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).

Location & tenants

• Location reads 55/100 on livability (#520 in GA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Leon (urban): math 48% / reading 53% proficiency, ranked #33 of 73 in FL (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.9%/yr); high-income renter base; 1,765 units permitted in Leon County in 2024 (975 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 $6k of value loss. Plan a longer hold.
• Leon County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 8y 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: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,000

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.07% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.58%
• DSCR: 1.38
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.85% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-9,363
• Equity at exit: $29,821

10-year hold

• IRR: 3.8%
• Equity multiple: 1.26×
• Total profit: $14,797
• Equity at exit: $17,292

Cash invested: $56,000 (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 32312

• Rents YoY: 1.9%
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,136 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$155 /mo · $1,857/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $401

Break-even live

Break-even rent $1,629

Max offer price $200,000

Occupancy floor 76%

Sensitivity live

Price	-10% $514	-5% $457	+0% $401	+5% $344	+10% $287
Rent	-10% $232	-5% $316	+0% $401	+5% $485	+10% $569
Rate	-1.0pp $501	-0.5pp $451	base $401	+0.5pp $349	+1.0pp $296

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $200,000 Active 1 DOM

ⓘ 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: $1,857 · $155/mo
• Projected year-2 tax: $1,857 · $155/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 8/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $25,633
• − Mortgage interest: −$11,203
• − Property taxes: −$1,857
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,051
• − Management: −$2,051
• − Depreciation: −$5,818
• Taxable income: $1,654
• Est. tax owed @ 24.0%: −$397
• After-tax cash flow: $4,411/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: Leon
• NCES district ID: 1201110
• Math proficiency: 48% ▼ -13.00%
• Reading proficiency: 53% ▼ -5.00%
• Median HH income: $46,339
• Composite: 42.84/100
• National rank: #3131
• State rank: #33 of 73 in FL

Livability — Calvary

• Score: 55/100
• State rank: #520
• US rank: #23471

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Leon County
• Metro: Tallahassee, FL
• Population (ZIP): 32,216
• Household income: $123,032
• Rent vs Own: 16.1% rent · 83.9% own
• Severe rent burden: 630.0

Population outlook (Leon County) Hauer SSP2

• Today (2025): 315,507 people
• By 2030: 330,677 · +4.8%
• By 2040: 358,465 · +13.6%
• By 2050: 386,804 · +22.6%
• By 2075: 465,480 · +47.5%
• By 2100: 519,959 · +64.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 11% Hispanic / Latino 6% Two or more races 5% Asian 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 4% Italian 4% Serbian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 90% English-only · Spanish 3% Chinese 2% Other Asian/Pacific 1%

Political lean MEDSL · Leon

• 2024 margin: Strong D (+21.8) · D 60.3% · R 38.5% · Other 1.2%
• 2008→2024 swing: -2.5pp toward R · 2008: 24.3pp · 2024: 21.8pp
• All cycles: 2024: D+21.8 2020: D+28.3 2016: D+25.1 2012: D+23.6 2008: D+24.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.79%
• Current HPI: 240.8961
• Rent YoY: ▲ 1.85%
• Metro: Tallahassee, FL
• 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

+545.2% since first listed

15 events — show timeline

• 2026-06-12 Listed $200,000 CATRS
• 2023-10-04 Sold (Public Records) $197,000 Public Records
• 2023-09-29 Sold (MLS) $197,000 CATRS
• 2023-09-13 Contingent — CATRS
• 2023-08-28 Relisted — CATRS
• 2023-08-28 Price Changed $197,500 CATRS
• 2023-08-09 Contingent — CATRS
• 2023-07-26 Price Changed $197,900 CATRS
• 2023-07-06 Price Changed $198,500 CATRS
• 2023-05-26 Relisted — CATRS
• 2023-05-25 Contingent — CATRS
• 2023-05-15 Listed $199,900 CATRS
• 2019-08-06 Sold (MLS) $25,600 CATRS
• 2018-08-24 Listed $55,000 CATRS
• 1998-06-16 Sold (Public Records) $31,000 Public Records

Property tax history

+14.5%/yr

Latest (2025): $1,857 · +2.8% YoY. Source: county tax records.