204 Oak St · Quitman, GA 31643

$184,900

3 bd · 2.0 ba · 1,304 sqft · SingleFamily public records · 64 Days on market

Built 1945 8,712 sqft lot $142/sqft · 74% above area

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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 +17.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Appreciation +5.5/10.0
• 1% rule +3.6/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

204 Oak Street is a true expression of timeless charm in the heart of Quitman. This beautifully restored 3-bedroom, 2-bath home blends the character of historic architecture with the comfort and ease today's buyers are looking for, creating a setting that feels both warm and refined. From the moment you arrive, there's an undeniable sense of place—where quiet streets, friendly neighbors, and the rhythm of small-town living come together. Inside, the home has been thoughtfully maintained and restored, preserving its original charm while ensuring it's completely move-in ready. Spacious living areas, abundant natural light, and well-appointed bedrooms offer both functionality and comfort for everyday living. Step outside to a private, fenced backyard—perfect for pets, entertaining, or simply enjoying a quiet South Georgia evening under the open sky. A detached garage adds convenience and extra storage, while the separate “man cave” space offers incredible flexibility—ideal for a home office, game room, or easily converted into a charming guest house for visitors or extended family. Whether you're drawn to the craftsmanship of a bygone era or simply looking for a home that feels welcoming from the start, this property delivers. It's the kind of place where mornings begin a little slower, evenings stretch a little longer, and life feels just a bit more connected. Located just moments from Quitman's quaint downtown, local shops, and schools, this home offers not only a place to live—but a lifestyle rooted in history, community, and Southern charm.

Key facts

• Timeless charm
• Quaint downtown
• Detached garage

Tags

• TIMELESS CHARM
• HISTORIC ARCHITECTURE
• PRIVATE FENCED BACKYARD
• DETACHED GARAGE
• QUAINT DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $145 ($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 $159k (14.2% below list).
• Recommended offer: $159k (14.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#462 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools F, amenities F, commute F.
• Brooks County (rural): math 15% / reading 15% proficiency, ranked #160 of 174 in GA (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 57 active listings in the ZIP; 39 units permitted in Brooks County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (0.9% local appreciation)).
• Brooks County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $185k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,564 (14.2% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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. 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: 0.86% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.36%
• DSCR: 1.15
• GRM: 9.7

CMA / ARV

• ARV (median comp): $106,221
• List price: $184,900
• Delta: 74.07%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 Pine St	0.10mi	3/1.5	1,385 (+6%)	9mo	$125,000	$90	76
506 Oglesby St	0.40mi	3/1.0	1,275 (-2%)	1mo	$47,500	$37	73
1100 N Reddick St	0.54mi	3/1.0	1,300 (-0%)	19mo	$125,000	$96	54
901 W Boundary St	0.51mi	3/2.0	1,152 (-12%)	4mo	$95,000	$82	54

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

Projected returns pro-forma

0.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.23×
• Total profit: $11,880
• Equity at exit: $62,354

10-year hold

• IRR: 8.9%
• Equity multiple: 2.08×
• Total profit: $55,733
• Equity at exit: $82,272

Cash invested: $51,772 (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 31643

• Home prices YoY: 0.5%
• Active inventory: 57
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,586 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$61 /mo · $734/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $145

Break-even live

Break-even rent $1,402

Max offer price $184,900

Occupancy floor 86%

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $184,900 Active 64 DOM
2. 2026-06-18
   days on market $184,900 Active 63 DOM
3. 2026-06-17
   days on market $184,900 Active 62 DOM
4. 2026-06-16
   days on market $184,900 Active 61 DOM
5. 2026-06-15
   days on market $184,900 Active 60 DOM
6. 2026-06-14
   days on market $184,900 Active 58 DOM
7. 2026-06-13
   days on market $184,900 Active 57 DOM
8. 2026-06-10
   days on market $184,900 Active 55 DOM
9. 2026-06-09
   days on market $184,900 Active 54 DOM
10. 2026-06-08
    days on market $184,900 Active 53 DOM
11. 2026-06-07
    days on market $184,900 Active 52 DOM
12. 2026-06-05
    days on market $184,900 Active 49 DOM
13. 2026-06-03
    days on market $184,900 Active 48 DOM
14. 2026-06-02
    days on market $184,900 Active 47 DOM
15. 2026-06-01
    days on market $184,900 Active 46 DOM
16. 2026-05-31
    days on market $184,900 Active 45 DOM
17. 2026-05-30
    days on market $184,900 Active 44 DOM
18. 2026-04-16
    listed $184,900 Active 1603-char remark

    Show marketing remark (1603 chars)

    204 Oak Street is a true expression of timeless charm in the heart of Quitman. This beautifully restored 3-bedroom, 2-bath home blends the character of historic architecture with the comfort and ease today's buyers are looking for, creating a setting that feels both warm and refined. From the moment you arrive, there's an undeniable sense of place—where quiet streets, friendly neighbors, and the rhythm of small-town living come together. Inside, the home has been thoughtfully maintained and restored, preserving its original charm while ensuring it's completely move-in ready. Spacious living areas, abundant natural light, and well-appointed bedrooms offer both functionality and comfort for everyday living. Step outside to a private, fenced backyard—perfect for pets, entertaining, or simply enjoying a quiet South Georgia evening under the open sky. A detached garage adds convenience and extra storage, while the separate “man cave” space offers incredible flexibility—ideal for a home office, game room, or easily converted into a charming guest house for visitors or extended family. Whether you're drawn to the craftsmanship of a bygone era or simply looking for a home that feels welcoming from the start, this property delivers. It's the kind of place where mornings begin a little slower, evenings stretch a little longer, and life feels just a bit more connected. Located just moments from Quitman's quaint downtown, local shops, and schools, this home offers not only a place to live—but a lifestyle rooted in history, community, and Southern charm.

19. 2023-11-10
    soldstatus $70,000

ⓘ 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: $734 · $61/mo
• Projected year-2 tax: $1,701 · $142/mo
• Expected delta: +$967/yr (+$81/mo · 131.9%)

ⓘ 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 ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,028
• − Mortgage interest: −$10,357
• − Property taxes: −$734
• − Insurance: −$924
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$5,379
• Taxable loss: −$1,411
• Est. tax savings @ 24.0%: +$339
• After-tax cash flow: $2,077/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: Brooks County
• NCES district ID: 1300540
• Math proficiency: 15% ▼ -7.00%
• Reading proficiency: 15% ▼ -8.00%
• Median HH income: $35,963
• Composite: 12.43/100
• National rank: #9628
• State rank: #160 of 174 in GA

Livability — Quitman

• Score: 57/100
• State rank: #462
• US rank: #21941

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quitman, GA
• City population: 9,848
• Population (ZIP): 9,848

Population outlook (Brooks County) Hauer SSP2

• Today (2025): 14,339 people
• By 2030: 13,497 · -5.9%
• By 2040: 11,787 · -17.8%
• By 2050: 10,100 · -29.6%
• By 2075: 6,878 · -52.0%
• By 2100: 5,056 · -64.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 49% Black 42% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Brooks

• 2024 margin: Strong R (+26.8) · D 36.5% · R 63.2%
• 2008→2024 swing: -13.3pp toward R · 2008: -13.5pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+20.7 2016: R+18.7 2012: R+6.3 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.92%
• Current HPI: 206.3145
• 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

+164.1% since first listed

2 events — show timeline

• 2026-04-16 Listed $184,900 TABRMLS
• 2023-11-10 Sold (Public Records) $70,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $734 · -1.1% YoY. Source: county tax records.