925 Troupe St · Macon-Bibb County, GA 31206

$195,000

4 bd · 2.0 ba · 1,848 sqft · MultiFamily public records · 144 Days on market

Built 1940 0.31 ac lot Est $130k · 50% over

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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 +22.4/30.0
• DSCR +7.2/10.0
• 1% rule +5.1/10.0
• Rent growth +3.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

INVESTMENT OPPORTUNITY! Renovated DUPLEX with paying tenants already in place. Tenants have a 12-month lease in place with Macon Housing Authority. Since tenants are in place - please text and we can arrange for showings ***24 HOUR NOTICE REQUIRED*** Close to 75, shopping and schools.

Key facts

• Renovated duplex
• Close to 75
• Shopping

Tags

• RENOVATED DUPLEX
• CLOSE TO 75
• SHOPPING
• SCHOOLS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive. Per door: $162/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 D — 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 (+5.0%/yr); 207 active listings in the ZIP; 7 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).
• At $1,960/mo this rent would consume 78% of the median local household income ($30k/yr) (locally 1335% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Bibb County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.14%
• DSCR: 1.32
• GRM: 8.3

CMA / ARV

• ARV (median comp): $130,301
• List price: $195,000
• Delta: 49.65%
• Verdict: OVERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.03% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.87×
• Total profit: $-6,872
• Equity at exit: $29,075

10-year hold

• IRR: 8.4%
• Equity multiple: 1.69×
• Total profit: $37,936
• Equity at exit: $16,860

Cash invested: $54,600 (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 31206

• Rents YoY: 5.0%
• Active inventory: 207
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $1,960 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$120 /mo · $1,437/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $325

Break-even live

Break-even rent $1,549

Max offer price $195,000

Occupancy floor 78%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,960
Total (2 units)			$1,960

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4052 Mikado Ave Macon, GA	3.0	1.0	1624	$1,300	$0.80	13d	1	0.14mi
832 Richmond St Macon, GA	3.0	1.0	1364	$925	$0.68	21d	1	0.28mi
1240 Rocky Creek Rd Unit A Macon, GA	4.0	1.0	1342	$1,090	$0.81	21d	1	0.33mi
4322 Mikado Ave Macon, GA	3.0	2.0	1344	$1,230	$0.92	21d	1	0.35mi
3709 Flamingo Dr Macon, GA	3.0	1.0	1360	$1,300	$0.96	44d	1	0.63mi
1334 Dewey St Macon, GA	3.0	2.0	1942	$1,300	$0.67	21d	1	0.66mi
645 Rutherford Ave Macon, GA	4.0	2.0	1481	$1,395	$0.94	44d	1	1.25mi

Listing history 30 events

1. 2026-06-19
   days on market $195,000 Active 144 DOM
2. 2026-06-18
   days on market $195,000 Active 143 DOM
3. 2026-06-17
   days on market $195,000 Active 142 DOM
4. 2026-06-16
   days on market $195,000 Active 141 DOM
5. 2026-06-15
   days on market $195,000 Active 140 DOM
6. 2026-06-14
   days on market $195,000 Active 138 DOM
7. 2026-06-13
   days on market $195,000 Active 137 DOM
8. 2026-06-10
   days on market $195,000 Active 135 DOM
9. 2026-06-09
   days on market $195,000 Active 134 DOM
10. 2026-06-09
    days on market $195,000 Active 133 DOM
11. 2026-06-07
    days on market $195,000 Active 132 DOM
12. 2026-06-03
    days on market $195,000 Active 128 DOM
13. 2026-06-02
    days on market $195,000 Active 127 DOM
14. 2026-06-01
    days on market $195,000 Active 126 DOM
15. 2026-05-31
    days on market $195,000 Active 125 DOM
16. 2026-05-30
    days on market $195,000 Active 124 DOM
17. 2026-01-26
    listed $195,000 New 286-char remark

    Show marketing remark (286 chars)

    INVESTMENT OPPORTUNITY! Renovated DUPLEX with paying tenants already in place. Tenants have a 12-month lease in place with Macon Housing Authority. Since tenants are in place - please text and we can arrange for showings ***24 HOUR NOTICE REQUIRED*** Close to 75, shopping and schools.

18. 2026-01-26
    listed $195,000 Active 286-char remark

    Show marketing remark (286 chars)

    INVESTMENT OPPORTUNITY! Renovated DUPLEX with paying tenants already in place. Tenants have a 12-month lease in place with Macon Housing Authority. Since tenants are in place - please text and we can arrange for showings ***24 HOUR NOTICE REQUIRED*** Close to 75, shopping and schools.

19. 2025-03-24
    soldstatus $185,000
20. 2025-03-19
    soldstatus $185,000 Closed
21. 2025-03-19
    soldstatus $185,000 Sold
22. 2024-11-29
    listed $185,000 Active
23. 2024-11-29
    listed $185,000 New
24. 2022-07-05
    soldstatus $152,500
25. 2022-06-24
    soldstatus $152,500
26. 2022-06-24
    soldstatus $152,500 Sold
27. 2022-06-07
    status Under Contract
28. 2022-05-27
    listed $155,000
29. 2022-05-27
    listed $155,000 New
30. 1997-05-05
    soldstatus $24,000

ⓘ 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: $1,437 · $120/mo
• Projected year-2 tax: $1,794 · $150/mo
• Expected delta: +$357/yr (+$30/mo · 24.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $23,520
• − Mortgage interest: −$10,923
• − Property taxes: −$1,437
• − Insurance: −$975
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − Depreciation: −$5,673
• Taxable income: $749
• Est. tax owed @ 24.0%: −$180
• After-tax cash flow: $3,718/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): 24,310
• Household income: $30,042
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 1335.0

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 (76%)
• Race & ethnicity: Black 76% White 12% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -80.17%
• Current HPI: 148.6765
• Rent YoY: ▲ 5.03%
• 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

+712.5% since first listed

14 events — show timeline

• 2026-01-26 Listed $195,000 FMLS
• 2026-01-26 Listed $195,000 GAMLS
• 2025-03-24 Sold (Public Records) $185,000 Public Records
• 2025-03-19 Sold (MLS) $185,000 GAMLS
• 2025-03-19 Sold (MLS) $185,000 FMLS
• 2024-11-29 Listed $185,000 GAMLS
• 2024-11-29 Listed $185,000 FMLS
• 2022-07-05 Sold (Public Records) $152,500 Public Records
• 2022-06-24 Sold (MLS) $152,500 GAMLS
• 2022-06-24 Sold (MLS) $152,500 MGMLS
• 2022-06-07 Pending — GAMLS
• 2022-05-27 Listed $155,000 GAMLS
• 2022-05-27 Listed $155,000 MGMLS
• 1997-05-05 Sold (Public Records) $24,000 Public Records

Property tax history

+21.9%/yr

Latest (2025): $1,437 · +3.9% YoY. Source: county tax records.