760 Cowan St · Macon-Bibb County, GA 31217

$150,000

3 bd · 3.0 ba · 1,948 sqft · SingleFamily public records · 329 Days on market

Built 1940 4,791 sqft lot $77/sqft · 203% above area

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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 +22.2/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• DSCR +7.1/10.0
• Rent growth +5.0/5.0
• 1% rule +4.9/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

Welcome to your renovated, turnkey duplex near downtown Macon, in the Shurling Cross Keys subdivision. This 4 bedroom, 3 bath property offers incredible investment potential or an ideal owner-occupant setup, with two fully updated units and modern finishes throughout. The primary unit features a spacious layout with 2 large bedrooms, 2 full bathrooms, a comfortable living room, an eat in kitchen, and a bonus storage room perfect for tenants or long term living. The second unit offers 2 bedrooms, 1 full bath, a full kitchen, and laundry hookups, making it fully self sufficient and tenant ready. All renovation was completely permitted and includes a new roof, updated plumbing and electrical, new drywall and paint, and luxury vinyl plank flooring throughout. Both units are equipped with brand new split unit heating and air systems and solid surface countertops. With clean lines, fresh finishes, and a strong rental market nearby, this is a true turnkey opportunity located in the ready to deliver from day one.

Key facts

• Updated units
• Bonus storage room
• Renovated duplex

Tags

• RENOVATED DUPLEX
• UPDATED UNITS
• MODERN FINISHES
• SPACIOUS LAYOUT
• BONUS STORAGE ROOM
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/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 $149k (0.9% below list).
• Recommended offer: $132k (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 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 (+10.8%/yr); 122 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 154 units permitted in Bibb County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $6k appreciation (4.3% local appreciation)).
• Bibb County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.3% appreciation + 8.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, 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 329 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $31k; list at $150k implies a 385% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 67% 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 $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 329 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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.
6. 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.
7. 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: 0.99% ✗
• Cap rate: 8.26%
• Cash-on-cash: 7.01%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (median comp): $49,468
• List price: $150,000
• Delta: 203.23%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
532 Woolfolk St	0.24mi	4/2.0 (+1)	1,932 (-1%)	7mo	$52,500	$27	73
545 Cowan St	0.21mi	3/2.5	1,860 (-4%)	20mo	$149,900	$81	64
711 Applewood St	0.59mi	4/2.5 (+1)	1,951 (+0%)	7mo	$42,500	$22	60
982 Smith St	0.16mi	2/2.0 (-1)	1,728 (-11%)	16mo	$45,000	$26	51
1151 Boone St	0.65mi	3/2.0	2,028 (+4%)	9mo	$32,000	$16	51
459 Main St	0.53mi	4/1.0 (+1)	1,867 (-4%)	9mo	$37,000	$20	47
915 North Ave	0.71mi	2/1.5 (-1)	1,823 (-6%)	12mo	$80,000	$44	35
902 Summit Ave	0.73mi	3/2.0	1,790 (-8%)	22mo	$174,000	$97	30

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

Projected returns pro-forma

4.31% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.24×
• Total profit: $52,177
• Equity at exit: $78,805

10-year hold

• IRR: 22.3%
• Equity multiple: 4.95×
• Total profit: $165,994
• Equity at exit: $131,137

Cash invested: $42,000 (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 31217

• Home prices YoY: 2.1%
• Rents YoY: 10.8%
• Active inventory: 122
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,486 high
• Mortgage (P&I): −$787
• Tax from tax record: −$80 /mo · $954/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $245

Break-even live

Break-even rent $1,176

Max offer price $150,000

Occupancy floor 78%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
490 Hall St Macon, GA	4.0	2.0	1596	$1,850	$1.16	43d	1	0.27mi
892 Applewood St Macon, GA	4.0	2.0	1250	$850	$0.68	43d	1	0.52mi
854 Trinity Pl Macon, GA	2.0	1.0	1260	$875	$0.69	43d	1	0.58mi
1126 Boulevard Macon, GA	4.0	1.5	1228	$1,260	$1.03	20d	1	0.72mi
1105 Boulevard Macon, GA	3.0	1.0	1592	$1,350	$0.85	20d	1	0.72mi
870 Laurel Ave Macon, GA	3.0	2.0	2205	$1,300	$0.59	43d	1	0.83mi
879 Nottingham Dr Macon, GA	3.0	2.5	2147	$1,700	$0.79	13d	1	0.99mi
850 Parkview Ct Macon, GA	3.0	2.5	1520	$1,700	$1.12	43d	1	1.02mi
850 Parkview Ct Macon, GA	3.0	2.5	1520	$1,700	$1.12	20d	1	1.02mi
462 Cherry St Macon, GA	2.0	1.0–2.0	988	$3,000	$3.03	13d	25	1.40mi
370 Cherry St Macon, GA	2.0	2.0	1500	$1,400	$0.93	43d	1	1.40mi
147 Orange St Macon, GA	3.0	2.0	1500	$1,695	$1.13	13d	1	1.41mi
476 3rd St Macon, GA	2.0	1.0	942	$1,850	$1.96	13d	8	1.47mi

Listing history 45 events

1. 2026-06-19
   days on market $150,000 Active 329 DOM
2. 2026-06-18
   days on market $150,000 Active 328 DOM
3. 2026-06-17
   days on market $150,000 Active 327 DOM
4. 2026-06-16
   days on market $150,000 Active 326 DOM
5. 2026-06-15
   days on market $150,000 Active 325 DOM
6. 2026-06-14
   days on market $150,000 Active 323 DOM
7. 2026-06-13
   days on market $150,000 Active 322 DOM
8. 2026-06-10
   days on market $150,000 Active 320 DOM
9. 2026-06-09
   days on market $150,000 Active 319 DOM
10. 2026-06-09
    days on market $150,000 Active 318 DOM
11. 2026-06-07
    days on market $150,000 Active 317 DOM
12. 2026-06-03
    days on market $150,000 Active 313 DOM
13. 2026-06-02
    days on market $150,000 Active 312 DOM
14. 2026-06-01
    days on market $150,000 Active 311 DOM
15. 2026-05-31
    days on market $150,000 Active 310 DOM
16. 2026-05-30
    days on market $150,000 Active 309 DOM
17. 2025-11-19
    price $150,000 1023-char remark

    Show marketing remark (1023 chars)

    Welcome to your renovated, turnkey duplex near downtown Macon, in the Shurling Cross Keys subdivision. This 4 bedroom, 3 bath property offers incredible investment potential or an ideal owner-occupant setup, with two fully updated units and modern finishes throughout. The primary unit features a spacious layout with 2 large bedrooms, 2 full bathrooms, a comfortable living room, an eat in kitchen, and a bonus storage room perfect for tenants or long term living. The second unit offers 2 bedrooms, 1 full bath, a full kitchen, and laundry hookups, making it fully self sufficient and tenant ready. All renovation was completely permitted and includes a new roof, updated plumbing and electrical, new drywall and paint, and luxury vinyl plank flooring throughout. Both units are equipped with brand new split unit heating and air systems and solid surface countertops. With clean lines, fresh finishes, and a strong rental market nearby, this is a true turnkey opportunity located in the ready to deliver from day one.

18. 2025-11-14
    price $161,500 1023-char remark

    Show marketing remark (1023 chars)

    Welcome to your renovated, turnkey duplex near downtown Macon, in the Shurling Cross Keys subdivision. This 4 bedroom, 3 bath property offers incredible investment potential or an ideal owner-occupant setup, with two fully updated units and modern finishes throughout. The primary unit features a spacious layout with 2 large bedrooms, 2 full bathrooms, a comfortable living room, an eat in kitchen, and a bonus storage room perfect for tenants or long term living. The second unit offers 2 bedrooms, 1 full bath, a full kitchen, and laundry hookups, making it fully self sufficient and tenant ready. All renovation was completely permitted and includes a new roof, updated plumbing and electrical, new drywall and paint, and luxury vinyl plank flooring throughout. Both units are equipped with brand new split unit heating and air systems and solid surface countertops. With clean lines, fresh finishes, and a strong rental market nearby, this is a true turnkey opportunity located in the ready to deliver from day one.

19. 2025-07-25
    listed $170,000 Active 1023-char remark

    Show marketing remark (1023 chars)

    Welcome to your renovated, turnkey duplex near downtown Macon, in the Shurling Cross Keys subdivision. This 4 bedroom, 3 bath property offers incredible investment potential or an ideal owner-occupant setup, with two fully updated units and modern finishes throughout. The primary unit features a spacious layout with 2 large bedrooms, 2 full bathrooms, a comfortable living room, an eat in kitchen, and a bonus storage room perfect for tenants or long term living. The second unit offers 2 bedrooms, 1 full bath, a full kitchen, and laundry hookups, making it fully self sufficient and tenant ready. All renovation was completely permitted and includes a new roof, updated plumbing and electrical, new drywall and paint, and luxury vinyl plank flooring throughout. Both units are equipped with brand new split unit heating and air systems and solid surface countertops. With clean lines, fresh finishes, and a strong rental market nearby, this is a true turnkey opportunity located in the ready to deliver from day one.

20. 2025-03-01
    historical
21. 2025-03-01
    historical
22. 2025-02-04
    listed $170,000 New
23. 2025-01-19
    price $170,000
24. 2025-01-19
    price $170,000
25. 2025-01-19
    price $170,000
26. 2024-12-21
    status Back On Market
27. 2024-12-16
    status Under Contract
28. 2024-12-03
    price $190,000
29. 2024-12-03
    price $190,000
30. 2024-12-03
    price $190,000
31. 2024-09-14
    listed $200,000 New
32. 2023-10-06
    soldstatus $30,900 Closed
33. 2023-10-06
    soldstatus $30,900 Sold
34. 2023-10-02
    status Under Contract
35. 2023-10-01
    status Pending
36. 2023-09-26
    status Price Change
37. 2023-09-26
    price $30,000
38. 2023-09-25
    status Active
39. 2023-09-25
    price $30,000
40. 2023-09-25
    status Under Contract
41. 2023-09-25
    status Pending
42. 2023-09-14
    price $55,000
43. 2023-09-14
    price $55,000
44. 2023-09-14
    listed $65,000 Active
45. 2023-09-13
    listed $65,000 New

ⓘ 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: $954 · $80/mo
• Projected year-2 tax: $1,380 · $115/mo
• Expected delta: +$426/yr (+$35/mo · 44.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,832
• − Mortgage interest: −$8,402
• − Property taxes: −$954
• − Insurance: −$750
• − Repairs & maintenance: −$1,427
• − Management: −$1,427
• − Depreciation: −$4,364
• Taxable income: $508
• Est. tax owed @ 24.0%: −$122
• After-tax cash flow: $2,821/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): 17,732
• Household income: $44,809
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 391.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% White 38% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▲ 4.31%
• Current HPI: 209.9166
• Rent YoY: ▲ 10.85%
• 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

+130.8% since first listed

29 events — show timeline

• 2025-11-19 Price Changed $150,000 MGMLS
• 2025-11-14 Price Changed $161,500 MGMLS
• 2025-07-25 Listed $170,000 MGMLS
• 2025-03-01 Listing Removed — GAMLS
• 2025-03-01 Listing Removed — GAMLS
• 2025-02-04 Listed $170,000 GAMLS
• 2025-01-19 Price Changed $170,000 MGMLS
• 2025-01-19 Price Changed $170,000 CGMLS
• 2025-01-19 Price Changed $170,000 GAMLS
• 2024-12-21 Relisted — GAMLS
• 2024-12-16 Pending — GAMLS
• 2024-12-03 Price Changed $190,000 CGMLS
• 2024-12-03 Price Changed $190,000 MGMLS
• 2024-12-03 Price Changed $190,000 GAMLS
• 2024-09-14 Listed $200,000 GAMLS
• 2023-10-06 Sold (MLS) $30,900 GAMLS
• 2023-10-06 Sold (MLS) $30,900 CGMLS
• 2023-10-02 Pending — GAMLS
• 2023-10-01 Pending — CGMLS
• 2023-09-26 Relisted — GAMLS
• 2023-09-26 Price Changed $30,000 GAMLS
• 2023-09-25 Relisted — CGMLS
• 2023-09-25 Price Changed $30,000 CGMLS
• 2023-09-25 Pending — GAMLS
• 2023-09-25 Pending — CGMLS
• 2023-09-14 Price Changed $55,000 CGMLS
• 2023-09-14 Price Changed $55,000 GAMLS
• 2023-09-14 Listed $65,000 CGMLS
• 2023-09-13 Listed $65,000 GAMLS

Property tax history

+45.9%/yr

Latest (2025): $954 · +215.8% YoY. Source: county tax records.