140 Spencer Hill Ct · Macon-Bibb County, GA 31206

$99,000

3 bd · 1.5 ba · 1,356 sqft · SingleFamily public records · 6 Days on market

Built 1960 0.44 ac lot $73/sqft · 11% below area Est $111k · 11% under

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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 +29.3/30.0
• ARV discount +12.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Rent growth +3.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Income Producing Property! Terrific Location! All brick with long term tenant paying $780 a month. Central Heat & Air! Don't miss this wonderful opportunity! This is an 'as is' sale.

Key facts

• Hardwood flooring
• Separate dining room
• All brick ranch home

Tags

• ALL BRICK RANCH HOME
• WELL APPOINTED KITCHEN
• SEPARATE DINING ROOM
• NEWLY REMODELED LIVING ROOM
• HARDWOOD FLOORING
• LARGE COVERED PATIO

Property features AI

Finance

• Other: Lot size about 0.44 acre; Located in the Westhaven subdivision, Macon, GA
• HOA & community: No HOA

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Cable available; Electricity available; High-speed internet available; Natural gas available
• Home design: Single-family house; Residential property; Built in 1960; Fixer condition
• Construction: Brick construction; Composition roof; Built in 1960
• Exterior features: Cul-de-sac lot

Interior

• Kitchen: Dishwasher
• Bedrooms: 3 bedrooms on the main level
• Flooring: Hardwood flooring; Laminate flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One-level living; Unfinished basement; Fireplace (1); Other interior features
• Laundry & utility: Mud room / laundry area

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 10.5% 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 B — 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.
• Zoned schools: Veterans Elementary School (math 3% / reading 9%, grade F, #1,154 of 1,228 statewide, top 94%, 697 students, 100% FRL); Southwest High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 800 students, 100% FRL) — zoned schools average 100% FRL vs 75% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.0%/yr); 207 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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).
• At $1,237/mo this rent would consume 49% 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 $684 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 + 5.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 5y 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: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 72% 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 $99,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.25% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.02%
• DSCR: 1.67
• GRM: 6.7

CMA / ARV

• ARV (median comp): $110,690
• List price: $99,000
• Delta: -10.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3471 Bloomfield Dr	0.14mi	3/2.0	1,351 (-0%)	4mo	$74,000	$55	88
2489 Locksley Dr	0.42mi	3/2.0	1,381 (+2%)	4mo	$169,900	$123	72
3936 Nisbet Rd	0.48mi	3/1.5	1,357 (+0%)	15mo	$75,000	$55	65
2545 Greenwood Ter	0.36mi	3/2.0	1,212 (-11%)	3mo	$125,000	$103	61
2715 Barrett Ave	0.66mi	3/2.0	1,322 (-2%)	8mo	$6,200	$5	56
2366 Lancelot Pl	0.54mi	3/2.0	1,409 (+4%)	13mo	$134,000	$95	56
2765 Alden St	0.75mi	3/2.0	1,392 (+3%)	6mo	$38,000	$27	54
728 Royal Oaks Dr	0.51mi	3/2.0	1,473 (+9%)	11mo	$190,000	$129	50
246 Beaumont Hts	0.60mi	3/2.0	1,536 (+13%)	0mo	$135,000	$88	48
3797 Brownley Dr	0.52mi	2/1.0 (-1)	1,212 (-11%)	4mo	$85,000	$70	48
2940 Springmeadow Dr	0.71mi	3/2.0	1,504 (+11%)	10mo	$150,000	$100	38
3860 Lindwood Dr	0.74mi	3/1.0	1,200 (-12%)	9mo	$50,000	$42	36

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 · 5.03% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.16×
• Total profit: $4,426
• Equity at exit: $14,761

10-year hold

• IRR: 15.4%
• Equity multiple: 2.37×
• Total profit: $37,989
• Equity at exit: $8,560

Cash invested: $27,720 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,237 high
• Mortgage (P&I): −$519
• Tax from tax record: −$70 /mo · $836/yr
• Insurance: −$41
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $280

Break-even live

Break-even rent $882

Max offer price $99,000

Occupancy floor 72%

Sensitivity live

Price	-10% $337	-5% $309	+0% $280	+5% $252	+10% $224
Rent	-10% $183	-5% $232	+0% $280	+5% $329	+10% $378
Rate	-1.0pp $330	-0.5pp $306	base $280	+0.5pp $255	+1.0pp $229

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4995 Bloomfield Rd Macon, GA	2.0	1.5	900	$997	$1.11	22d	1	0.62mi
5487 Bloomfield Rd Macon, GA	3.0	2.0	1050	$1,200	$1.14	22d	1	0.64mi
3257 Ohara Dr S Macon, GA	3.0	1.0	1352	$1,125	$0.83	22d	1	0.77mi
2427 Vivian Dr Macon, GA	4.0	1.0	1056	$1,150	$1.09	44d	1	0.78mi
5161 Nisbet Dr Macon, GA	2.0	1.5	1040	$975	$0.94	44d	1	0.80mi
2418 Adger Rd Macon, GA	4.0	1.0	1365	$1,500	$1.10	44d	1	0.86mi
4300 Essex Rd Macon, GA	4.0	1.5	1246	$1,450	$1.16	22d	1	0.90mi
4278 Vinson Ave Macon, GA	4.0	2.0	1104	$1,550	$1.40	22d	1	0.91mi
2477 Thrasher Ave Macon, GA	3.0	1.0	960	$825	$0.86	14d	1	0.92mi
2423 Thrasher Ave Macon, GA	3.0	1.0	1056	$725	$0.69	44d	1	0.93mi
1000 Crystal Lake Cir Macon, GA	3.0	2.0	1312	$1,063	$0.81	44d	1	1.02mi
5708 Edwina Dr Macon, GA	3.0	1.0	925	$1,275	$1.38	44d	1	1.04mi
3733 Lindsey Dr Macon, GA	3.0	2.0	1645	$1,350	$0.82	14d	1	1.04mi
5771 Satterfield Dr Macon, GA	3.0	1.0	888	$1,250	$1.41	44d	1	1.05mi
4386 Thrasher Cir Macon, GA	3.0	2.0	1120	$1,400	$1.25	44d	1	1.08mi
4406 Chambers Rd Apt E16 Macon, GA	2.0	1.0	925	$899	$0.97	22d	1	1.16mi
4406 Chambers Rd Unit B-06 Macon, GA	2.0	1.0	925	$899	$0.97	44d	1	1.16mi
4471 Elkan Ave Macon, GA	4.0	2.0	1128	$1,495	$1.33	44d	1	1.16mi
2665 Chatsworth Ct Macon, GA	3.0	1.5	1056	$1,175	$1.11	44d	1	1.17mi
2961 Deeb Dr Macon, GA	3.0	1.0	1000	$1,000	$1.00	44d	1	1.18mi
4455 Fairfax Dr Macon, GA	3.0	2.0	1352	$1,225	$0.91	44d	1	1.20mi
2916 Walmar Dr Macon, GA	3.0	2.0	1300	$1,275	$0.98	44d	1	1.26mi
5962 Bloomfield Rd Macon, GA	4.0	1.5	1159	$1,300	$1.12	14d	1	1.30mi
4685 Pinedale Dr Macon, GA	3.0	1.5	1404	$1,450	$1.03	14d	1	1.43mi

Listing history 28 events

1. 2026-05-12
   listed $99,000 New 1042-char remark
2. 2026-04-30
   historical $1,190
3. 2026-04-03
   price $1,190
4. 2026-04-02
   price $129,900
5. 2026-03-04
   price $1,250
6. 2026-03-03
   price $139,900
7. 2026-01-26
   listed $1,350
8. 2025-11-19
   price $144,500
9. 2024-12-06
   historical $1,000
10. 2024-09-26
    price $1,000
11. 2024-09-17
    listed $1,100
12. 2024-09-17
    historical $1,100
13. 2024-08-29
    listed $1,100
14. 2024-08-29
    historical $1,100
15. 2024-06-27
    listed $1,100
16. 2024-06-27
    historical $1,100
17. 2024-06-19
    listed $1,100
18. 2022-06-17
    soldstatus $90,000
19. 2021-11-10
    soldstatus $63,500 Sold

    Show marketing remark (197 chars)

    Great Income Producing Property! Terrific Location! All brick with long term tenant paying $780 a month. Central Heat & Air! Don't miss this wonderful opportunity! This is an 'as is' sale.

20. 2021-11-10
    soldstatus $63,500

    Show marketing remark (197 chars)

    Great Income Producing Property! Terrific Location! All brick with long term tenant paying $780 a month. Central Heat & Air! Don't miss this wonderful opportunity! This is an 'as is' sale.

21. 2021-11-10
    soldstatus $63,500

    Show marketing remark (197 chars)

    Great Income Producing Property! Terrific Location! All brick with long term tenant paying $780 a month. Central Heat & Air! Don't miss this wonderful opportunity! This is an 'as is' sale.

22. 2021-11-03
    status Under Contract
23. 2021-10-23
    status Active
24. 2021-10-20
    historical
25. 2021-10-15
    status Under Contract
26. 2021-09-08
    listed $74,000 New

    Show marketing remark (197 chars)

    Great Income Producing Property! Terrific Location! All brick with long term tenant paying $780 a month. Central Heat & Air! Don't miss this wonderful opportunity! This is an 'as is' sale.

27. 2021-09-08
    listed $74,000

    Show marketing remark (197 chars)

    Great Income Producing Property! Terrific Location! All brick with long term tenant paying $780 a month. Central Heat & Air! Don't miss this wonderful opportunity! This is an 'as is' sale.

28. 2006-12-11
    soldstatus $95,000

ⓘ 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: $836 · $70/mo
• Projected year-2 tax: $911 · $76/mo
• Expected delta: +$75/yr (+$6/mo · 9.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 18 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: $14,841
• − Mortgage interest: −$5,546
• − Property taxes: −$836
• − Insurance: −$1,292
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$2,880
• Taxable income: $1,913
• Est. tax owed @ 24.0%: −$459
• After-tax cash flow: $2,907/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

+4.2% since first listed

29 events — show timeline

• 2026-05-19 Pending — GAMLS
• 2026-05-12 Listed $99,000 GAMLS
• 2026-04-30 Rental Removed $1,190 CGMLS
• 2026-04-03 Price Changed $1,190 CGMLS
• 2026-04-02 Price Changed $129,900 CGMLS
• 2026-03-04 Price Changed $1,250 CGMLS
• 2026-03-03 Price Changed $139,900 CGMLS
• 2026-01-26 Listed for Rent $1,350 CGMLS
• 2025-11-19 Price Changed $144,500 CGMLS
• 2024-12-06 Rental Removed $1,000 RENTLY
• 2024-09-26 Price Changed $1,000 RENTLY
• 2024-09-17 Listed for Rent $1,100 RENTLY
• 2024-09-17 Rental Removed $1,100 BUILDIUM
• 2024-08-29 Listed for Rent $1,100 BUILDIUM
• 2024-08-29 Rental Removed $1,100 RENTLY
• 2024-06-27 Listed for Rent $1,100 RENTLY
• 2024-06-27 Rental Removed $1,100 BUILDIUM
• 2024-06-19 Listed for Rent $1,100 BUILDIUM
• 2022-06-17 Sold (Public Records) $90,000 Public Records
• 2021-11-10 Sold (Public Records) $63,500 Public Records
• 2021-11-10 Sold (MLS) $63,500 GAMLS
• 2021-11-10 Sold (MLS) $63,500 MGMLS
• 2021-11-03 Pending — GAMLS
• 2021-10-23 Relisted — GAMLS
• 2021-10-20 Listing Removed — GAMLS
• 2021-10-15 Pending — GAMLS
• 2021-09-08 Listed $74,000 GAMLS
• 2021-09-08 Listed $74,000 MGMLS
• 2006-12-11 Sold (Public Records) $95,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $836 · -1.3% YoY. Source: county tax records.