3457 Shenandoah Dr · Macon-Bibb County, GA 31204

$84,500

2 bd · 1.0 ba · 1,189 sqft · SingleFamily public records · 59 Days on market

Built 1953 7,840 sqft lot $71/sqft · 16% above area Est $73k · 16% over

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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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this all-brick 3 bedroom 1 bath home located in the heart of Macon, GA. Perfect for a first time home or as a lucrative investment property This property boasts a unique blend of classic and modern features, with refinished original hardwood floor adding a touch of timeless elegance, while newer laminet floors throughout ensure durability and easy maintenance. The homes layout is designed for conveinence, with a carport that leads directly into the kitchen, making grocery unloading a breeze. The kitchen also comes with a brand-new stov, ready for all of your culinary adventures. One of the stand out features of this property of this property is the huge fenced-in back yard, offering a private outdoor space for a variety of activities. This home is a perfect blend of comfort and functionality, waiting for you to make it your own.

Key facts

• Newer laminet floors
• All-brick home
• Brand-new stove

Tags

• ALL-BRICK HOME
• NEWER LAMINET FLOORS
• CARPORT LEADS INTO KITCHEN
• BRAND-NEW STOVE
• HUGE FENCED-IN BACK YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 5.4% in Macon-Bibb County — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Bibb County (urban): math 11% / reading 18% proficiency, ranked #161 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: Rents rising fast (+4.6%/yr); 255 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 154 units permitted in Bibb County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($39k/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 $584 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bibb County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $69k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,965 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.23% ✓
• Cap rate: 10.31%
• Cash-on-cash: 14.34%
• DSCR: 1.64
• GRM: 6.8

CMA / ARV

• ARV (median comp): $72,631
• List price: $84,500
• Delta: 16.34%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3529 Thorpe St	0.29mi	3/1.0 (+1)	1,132 (-5%)	1mo	$42,000	$37	72
3565 Log Cabin Dr	0.25mi	3/2.0 (+1)	1,300 (+9%)	4mo	$53,000	$41	60
3789 Del Park	0.26mi	3/1.0 (+1)	1,023 (-14%)	4mo	$31,000	$30	56
1025 Mimosa Dr	0.47mi	3/2.0 (+1)	1,274 (+7%)	4mo	$97,000	$76	54
3669 Earl St	0.61mi	3/1.0 (+1)	1,128 (-5%)	7mo	$75,000	$66	52
1201 Sherbrooke Dr	0.52mi	3/1.0 (+1)	1,080 (-9%)	4mo	$65,000	$60	52
1076 Carlisle Ave	0.35mi	3/1.0 (+1)	1,025 (-14%)	4mo	$104,000	$101	52
3178 Napier Ave	0.51mi	3/1.5 (+1)	1,294 (+9%)	5mo	$50,000	$39	50
3584 Log Cabin Dr	0.30mi	3/2.0 (+1)	1,025 (-14%)	6mo	$130,000	$127	49
1247 Carlisle Ave	0.56mi	3/2.0 (+1)	1,050 (-12%)	2mo	$151,000	$144	44
1305 Edna Pl	0.70mi	3/1.0 (+1)	1,310 (+10%)	7mo	$65,000	$50	40
3837 Blossfield Ave	0.73mi	3/1.0 (+1)	1,056 (-11%)	4mo	$42,000	$40	39

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 · 4.61% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.25×
• Total profit: $6,024
• Equity at exit: $12,599

10-year hold

• IRR: 17.1%
• Equity multiple: 2.51×
• Total profit: $35,673
• Equity at exit: $7,306

Cash invested: $23,660 (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 31204

• Rents YoY: 4.6%
• Active inventory: 255
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,043 high
• Mortgage (P&I): −$443
• Tax from tax record: −$63 /mo · $752/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $283

Break-even live

Break-even rent $685

Max offer price $84,500

Occupancy floor 68%

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: $21,125
• Closing costs: $2,535
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1097 Edna Pl Macon, GA	2.0	1.0	1299	$1,300	$1.00	43d	1	0.28mi
1076 Carlisle Ave Macon, GA	3.0	1.0	1025	$1,065	$1.04	21d	1	0.32mi
3307 Guthrie Dr Macon, GA	2.0	1.0	754	$900	$1.19	13d	1	0.34mi
3346 Shaw Dr Macon, GA	3.0	1.0	1094	$895	$0.82	21d	1	0.34mi
1187 Edna Pl Unit S-0503 Macon, GA	3.0	2.0	1200	$1,125	$0.94	21d	1	0.45mi
1187 Edna Pl Unit S-1208 Macon, GA	2.0	2.0	1000	$850	$0.85	13d	1	0.45mi
1187 Edna Pl Unit S-0501 Macon, GA	3.0	2.0	1200	$1,000	$0.83	21d	1	0.45mi
1187 Edna Pl Unit S-1206 Macon, GA	2.0	2.0	1000	$1,060	$1.06	21d	1	0.45mi
3634 Dawn St Macon, GA	3.0	1.0	999	$850	$0.85	43d	1	0.56mi
1196 Mimosa Dr Macon, GA	3.0	2.0	1200	$1,300	$1.08	21d	1	0.56mi
3495 Charleston Cir Macon, GA	3.0	1.0	1048	$799	$0.76	21d	1	0.57mi
3495 Charleston Cir Macon, GA	3.0	1.0	1048	$875	$0.83	43d	1	0.57mi
1020 Radio Dr Macon, GA	2.0	1.0	850	$889	$1.05	43d	1	0.66mi
3775 Grand Ave Macon, GA	3.0	2.0	1240	$1,175	$0.95	13d	1	0.67mi
3834 Mercer St Macon, GA	2.0	1.0	1000	$875	$0.88	43d	1	0.75mi
3840 Napier Ave Macon, GA	3.0	1.0	1365	$1,350	$0.99	13d	1	0.75mi
4145 Forest Ave W Macon, GA	3.0	1.0	1285	$1,195	$0.93	43d	1	0.75mi
3808 Fairmont Ave Unit A Macon, GA	1.0	1.0	793	$595	$0.75	43d	1	0.85mi
3324 Vineville Ave Unit 63B Macon, GA	2.0	1.0	1125	$1,050	$0.93	21d	1	0.89mi
3324 Vineville Ave Unit 57C Macon, GA	2.0	1.0	914	$1,050	$1.15	13d	1	0.89mi
3016 Ridge Ave Unit A Macon, GA	1.0	1.0	750	$775	$1.03	43d	1	0.95mi
3330 Ridge Ave Unit D4 Macon, GA	2.0	1.5	1056	$1,050	$0.99	13d	1	0.97mi
4033 N Napier Ave Unit 6 Macon, GA	2.0	1.5	1000	$850	$0.85	43d	1	0.99mi
3034 Churchill St Macon, GA	2.0	1.0	872	$900	$1.03	21d	1	1.00mi
3413 Vineville Ave Unit 3419 Macon, GA	3.0	1.5	1200	$1,200	$1.00	21d	1	1.00mi
3576 Vineville Ave Unit 3550-D-LT Macon, GA	2.0	2.0	863	$995	$1.15	13d	1	1.03mi
1208 Fourth Ave W Macon, GA	3.0	1.0	960	$825	$0.86	43d	1	1.05mi
133 Auburn Ave Macon, GA	2.0	1.0	880	$895	$1.02	43d	1	1.07mi
4053 Log Cabin Dr Unit B3 Macon, GA	2.0	1.0	950	$749	$0.79	21d	1	1.10mi
1528 Wellworth Ave Macon, GA	3.0	1.0	1126	$1,000	$0.89	21d	1	1.14mi
2763 Vineville Ave Macon, GA	1.0	1.0	900	$900	$1.00	43d	1	1.16mi
4126 Ayers Rd Macon, GA	2.0	1.0	900	$750	$0.83	13d	1	1.16mi
2755 Vineville Ave Unit B Macon, GA	3.0	2.0	900	$1,375	$1.53	43d	1	1.17mi
1463 Bankston Ave Macon, GA	2.0	1.0	960	$950	$0.99	43d	1	1.18mi
4250 Ayers Rd Macon, GA	2.0	1.0	1008	$1,100	$1.09	13d	1	1.22mi
1596 Burton Ave Macon, GA	3.0	1.0	1117	$895	$0.80	13d	1	1.22mi
4357 Azalea Dr Unit 4357 Macon, GA	2.0	1.0	750	$750	$1.00	43d	1	1.28mi
1460 Brentwood Ave Macon, GA	3.0	2.0	1148	$1,250	$1.09	21d	1	1.30mi
4342 Barrington Pl Macon, GA	2.0	1.5	1092	$950	$0.87	21d	1	1.35mi
4353 Barrington Pl Macon, GA	2.0	1.5	1108	$1,000	$0.90	13d	1	1.37mi

Listing history 31 events

1. 2026-06-19
   days on market $84,500 Active 59 DOM
2. 2026-06-18
   days on market $84,500 Active 58 DOM
3. 2026-06-17
   days on market $84,500 Active 57 DOM
4. 2026-06-16
   days on market $84,500 Active 56 DOM
5. 2026-06-15
   days on market $84,500 Active 55 DOM
6. 2026-06-14
   days on market $84,500 Active 53 DOM
7. 2026-06-13
   days on market $84,500 Active 52 DOM
8. 2026-06-10
   days on market $84,500 Active 50 DOM
9. 2026-06-09
   days on market $84,500 Active 49 DOM
10. 2026-06-09
    statusdays on market $84,500 Active 48 DOM
11. 2026-06-07
    pricestatusdays on market $84,500 Price Change 47 DOM
12. 2026-06-03
    days on market $89,500 Active 43 DOM
13. 2026-06-02
    days on market $89,500 Active 42 DOM
14. 2026-06-01
    days on market $89,500 Active 41 DOM
15. 2026-05-31
    days on market $89,500 Active 40 DOM
16. 2026-05-30
    days on market $89,500 Active 39 DOM
17. 2026-04-21
    listed $89,500 New 851-char remark

    Show marketing remark (851 chars)

    Welcome to this all-brick 3 bedroom 1 bath home located in the heart of Macon, GA. Perfect for a first time home or as a lucrative investment property This property boasts a unique blend of classic and modern features, with refinished original hardwood floor adding a touch of timeless elegance, while newer laminet floors throughout ensure durability and easy maintenance. The homes layout is designed for conveinence, with a carport that leads directly into the kitchen, making grocery unloading a breeze. The kitchen also comes with a brand-new stov, ready for all of your culinary adventures. One of the stand out features of this property of this property is the huge fenced-in back yard, offering a private outdoor space for a variety of activities. This home is a perfect blend of comfort and functionality, waiting for you to make it your own.

18. 2026-03-31
    historical
19. 2025-12-09
    status Back On Market
20. 2025-12-02
    status Under Contract
21. 2025-11-05
    listed $89,500 New
22. 2024-01-15
    historical $925
23. 2023-11-09
    listed $925
24. 2023-08-04
    soldstatus $69,000
25. 2023-07-31
    soldstatus $69,000 Sold
26. 2023-06-20
    status Under Contract
27. 2023-05-24
    price $79,500
28. 2023-05-18
    listed $89,500 New
29. 2022-06-17
    soldstatus $56,000
30. 2022-06-15
    soldstatus $56,000
31. 2022-05-24
    listed $56,000

ⓘ 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: $752 · $63/mo
• Projected year-2 tax: $777 · $65/mo
• Expected delta: +$25/yr (+$2/mo · 3.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,513
• − Mortgage interest: −$4,733
• − Property taxes: −$752
• − Insurance: −$422
• − Repairs & maintenance: −$1,001
• − Management: −$1,001
• − Depreciation: −$2,458
• Taxable income: $2,145
• Est. tax owed @ 24.0%: −$515
• After-tax cash flow: $2,879/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: Bibb County
• NCES district ID: 1300420
• Math proficiency: 11% ▼ -14.00%
• Reading proficiency: 18% ▼ -11.00%
• Median HH income: $37,426
• Composite: 12.13/100
• National rank: #9654
• State rank: #161 of 174 in GA

Livability — Macon-Bibb County

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Macon-Bibb County, GA
• County: Bibb County · 164,332 people
• City population: 143,186
• Metro: Macon-Bibb County, GA
• Population (ZIP): 32,421
• Household income: $38,784
• Rent vs Own: 57.5% rent · 42.5% own
• Severe rent burden: 2674.0

Population outlook (Bibb County) Hauer SSP2

• Today (2025): 148,772 people
• By 2030: 145,904 · -1.9%
• By 2040: 139,404 · -6.3%
• By 2050: 131,603 · -11.5%
• By 2075: 111,050 · -25.4%
• By 2100: 83,346 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (65%)
• Race & ethnicity: Black 65% White 28% Hispanic / Latino 3% Two or more races 2% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Bibb

• 2024 margin: Strong D (+22.4) · D 61.0% · R 38.5%
• 2008→2024 swing: +4.4pp toward D · 2008: 18.0pp · 2024: 22.4pp
• All cycles: 2024: D+22.4 2020: D+23.8 2016: D+20.2 2012: D+20.0 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.44%
• Current HPI: 194.5459
• Rent YoY: ▲ 4.61%
• Metro: Macon-Bibb County, 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

+59.8% since first listed

15 events — show timeline

• 2026-04-21 Listed $89,500 GAMLS
• 2026-03-31 Listing Removed — GAMLS
• 2025-12-09 Relisted — GAMLS
• 2025-12-02 Pending — GAMLS
• 2025-11-05 Listed $89,500 GAMLS
• 2024-01-15 Rental Removed $925 GAMLS
• 2023-11-09 Listed for Rent $925 GAMLS
• 2023-08-04 Sold (Public Records) $69,000 Public Records
• 2023-07-31 Sold (MLS) $69,000 GAMLS
• 2023-06-20 Pending — GAMLS
• 2023-05-24 Price Changed $79,500 GAMLS
• 2023-05-18 Listed $89,500 GAMLS
• 2022-06-17 Sold (Public Records) $56,000 Public Records
• 2022-06-15 Sold (MLS) $56,000 MGMLS
• 2022-05-24 Listed $56,000 MGMLS

Property tax history

+15.6%/yr

Latest (2025): $752 · +10.9% YoY. Source: county tax records.