202 Delta St · Albany, GA 31707

$39,500

4 bd · 2.0 ba · 1,508 sqft · SingleFamily · 71 Days on market

Built 1949 Fair condition 0.43 ac lot

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.8/5.0
• Livability +3.0/5.0
• Condition / age +2.2/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Duplex with long term tenants in place. Each units rents for $300 for a total of $600 per month. Two bedrooms and one bath per unit. New roof just installed.

Key facts

• New roof
• 0.43 acre lot
• Built 1949

Tags

• NEW ROOF

Property features AI

Exterior

• Utilities: Sewer connected
• Home design: Single-family residence; Detached; Single-story
• Construction: Asbestos siding; Brick construction
• Exterior features: Shingle roof

Interior

• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Natural gas heating
• Interior features: Hardwood flooring; Central heating

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $40k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $37k (6.0% below list) — sets the bar for market timing.
• Cap rate 37.0% vs local median 4.7% in Albany — 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 60/100 on livability (#371 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety B+; Watch: schools F, crime F, amenities F.
• Dougherty County (urban): math 12% / reading 16% proficiency, ranked #163 of 174 in GA (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.4%/yr); 184 active listings in the ZIP; 45 units permitted in Dougherty County in 2024 (20 in 5+ unit buildings).
• This rent runs 38% of the median local income ($51k/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 $273 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Dougherty County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,130 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 4.11% ✓
• Cap rate: 37.00%
• Cash-on-cash: 109.67%
• DSCR: 5.88
• GRM: 2.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.02×
• Total profit: $66,588
• Equity at exit: $5,890

10-year hold

• IRR: —
• Equity multiple: 17.28×
• Total profit: $180,064
• Equity at exit: $3,415

Cash invested: $11,060 (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 31707

• Rents YoY: 9.4%
• Active inventory: 184
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,625 medium
• Mortgage (P&I): −$207
• Tax est. 1.5%: −$49 /mo · $592/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $1,011

Break-even live

Break-even rent $346

Max offer price $39,500

Occupancy floor 33%

Sensitivity live

Price	-10% $1,038	-5% $1,024	+0% $1,011	+5% $997	+10% $983
Rent	-10% $882	-5% $947	+0% $1,011	+5% $1,075	+10% $1,139
Rate	-1.0pp $1,031	-0.5pp $1,021	base $1,011	+0.5pp $1,001	+1.0pp $990

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: $9,875
• Closing costs: $1,185
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-19
   statusdays on market $39,500 Active 71 DOM
2. 2026-05-20
   status Pending
3. 2026-04-07
   status Active
4. 2026-04-06
   status Pending
5. 2026-03-10
   listed $39,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 97% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,500
• − Mortgage interest: −$2,213
• − Property taxes: −$592
• − Insurance: −$198
• − Repairs & maintenance: −$1,560
• − Management: −$1,560
• − Depreciation: −$1,149
• Taxable income: $12,228
• Est. tax owed @ 24.0%: −$2,935
• After-tax cash flow: $9,194/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.

Condition & rehab AI · 8 photos

Fair 45/100 Moderate rehab

The property requires significant repairs and maintenance, including re-roofing, repainting, and replacing the HVAC system. These updates would significantly increase the property's value and make it more attractive to buyers and renters.

Repairs flagged

• Major roof — The roof appears to be in poor condition and may need to be replaced.
• Major exterior siding — The exterior siding is peeling and in need of repainting.
• Major flooring — The flooring in the interior appears to be worn and in need of replacement.
• Major interior walls — The interior walls show signs of wear and tear, with some areas appearing to be in need of repainting.
• Major HVAC system — The HVAC system appears to be old and may need replacement or repair.

Value-add opportunities

• Both Re-roofing the house — Re-roofing would improve the overall appearance and increase the value of the property.
• Both Repainting the exterior siding — Repainting the exterior siding would improve the curb appeal and increase the property's value.
• Both Replacing the flooring — Replacing the worn flooring would improve the interior appearance and increase the property's value.
• Both Repainting the interior walls — Repainting the interior walls would improve the appearance and increase the property's value.
• Both Replacing the HVAC system — Replacing the old HVAC system would improve the comfort and energy efficiency of the property.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition and may need to be replaced.	Major	$15,000–50,000
exterior siding · The exterior siding is peeling and in need of repainting.	Major	$15,000–50,000
flooring · The flooring in the interior appears to be worn and in need of replacement.	Major	$15,000–50,000
interior walls · The interior walls show signs of wear and tear, with some areas appearing to be in need of repainting.	Major	$15,000–50,000
HVAC system · The HVAC system appears to be old and may need replacement or repair.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Re-roofing the house — Re-roofing would improve the overall appearance and increase the value of the property. ↑
• Both Repainting the exterior siding — Repainting the exterior siding would improve the curb appeal and increase the property's value. ↑
• Both Replacing the flooring — Replacing the worn flooring would improve the interior appearance and increase the property's value. ↑
• Both Repainting the interior walls — Repainting the interior walls would improve the appearance and increase the property's value. ↑
• Both Replacing the HVAC system — Replacing the old HVAC system would improve the comfort and energy efficiency of the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Dougherty County
• NCES district ID: 1301830
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 16% ▼ -9.00%
• Median HH income: $33,105
• Composite: 11.31/100
• National rank: #9716
• State rank: #163 of 174 in GA

Livability — Albany

• Score: 60/100
• State rank: #371
• US rank: #18903

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albany, GA
• County: Dougherty County · 89,040 people
• City population: 89,040
• Metro: Albany, GA
• Population (ZIP): 22,679
• Household income: $50,862
• Rent vs Own: 57.3% rent · 42.7% own
• Severe rent burden: 1572.0

Population outlook (Dougherty County) Hauer SSP2

• Today (2025): 84,551 people
• By 2030: 80,637 · -4.6%
• By 2040: 72,090 · -14.7%
• By 2050: 64,056 · -24.2%
• By 2075: 46,332 · -45.2%
• By 2100: 33,127 · -60.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (63%)
• Race & ethnicity: Black 63% White 31% Two or more races 3% Hispanic / Latino 3% Asian 1%
• Common ancestry: Serbian 1% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Dougherty

• 2024 margin: Solid D (+41.1) · D 70.4% · R 29.3%
• 2008→2024 swing: +6.2pp toward D · 2008: 35.0pp · 2024: 41.1pp
• All cycles: 2024: D+41.1 2020: D+40.0 2016: D+38.3 2012: D+39.0 2008: D+35.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.86%
• Current HPI: 173.4443
• Rent YoY: ▲ 9.39%
• Metro: Albany, 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

4 events — show timeline

• 2026-05-20 Pending — SWGABOR
• 2026-04-07 Relisted — SWGABOR
• 2026-04-06 Pending — SWGABOR
• 2026-03-10 Listed $39,500 SWGABOR