218 W Hill Ave #40 · Valdosta, GA 31601

$2,550,000

None bd · None ba · 13,602 sqft · MultiFamily · 114 Days on market

Good condition 0.61 ac lot $187/sqft · 395% above area ↓ 5% since listing

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Rent growth +4.6/5.0
• Condition / age +4.0/5.0
• Livability +3.0/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Courlley Court II is a rare opportunity to invest in a turnkey, stabilized, and proven multifamily asset located in downtown Valdosta, Georgia. Offered at $2,550,000 (approximately $63,750 per unit). The property consists of 40 total units, including 38 residential apartments and two on-site offices. The residential unit mix includes 36 efficient one-bedroom/one-bath units and 2 two-bedroom/one-bath units, along with a manager's office and additional office space. Originally constructed as a motel, the property was completely gutted and converted to apartment use in 2022. All residential units were fully rebuilt and feature durable finishes and efficient layouts with kitchenettes, updated cabinetry, flooring, fixtures, and lighting. Kitchenettes include mini-refrigerators, two-burner electric cooktops, and microhood vent systems. Courlley Court II operates under the Housing Choice Voucher (formerly known as Section 8) federally-funded housing program, providing reliable, government-backed rental payments and consistent demand. Pro forma rents average $875 per residential unit, equating to $35,000 in monthly income ($420,000 annually). Using a conservative 40% operating expense ratio, the property supports a 9.9% pro forma cap rate at the asking price. All residential units are individually metered for electricity and directly billed to tenants by Georgia Power, reducing landlord utility exposure. Ownership provides hot water, property-wide Wi-Fi, and dumpster service. Additional amenities include an on-site tenant laundry room. Major capital improvements include a new Duro-Last commercial roof installed in 2025, complete with a 20-year transferable warranty, significantly reducing near-term capital expenditure risk. Member of seller entity is a licensed real estate associate broker in Georgia.

Key facts

• Mini-refrigerators
• Downtown valdosta
• Two on-site offices

Tags

• TURNKEY MULTIFAMILY ASSET
• DOWNTOWN VALDOSTA
• TWO ON-SITE OFFICES
• DURABLE FINISHES
• EFFICIENT LAYOUTS
• MINI-REFRIGERATORS

What this means for you Summary

Snapshot

• This is a multifamily listed at $2.55M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $7k ($84k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($31k rent vs $2.55M).
• Recommended offer: $2.32M (9.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.3% in Valdosta — 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 (#392 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities F.
• Valdosta City (urban): math 15% / reading 22% proficiency, ranked #149 of 174 in GA (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.3%/yr); 198 active listings in the ZIP; lower-income renter base — watch delinquency; 896 units permitted in Lowndes County in 2024 (0 in 5+ unit buildings).
• At $31,142/mo this rent would consume 1035% of the median local household income ($36k/yr) (locally 2016% 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 $18k of loan paydown is wiped out by about $76k of value loss. Plan a longer hold.
• Lowndes County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $714k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($2.32M) is reasonable based on typical stale-listing flexibility.

Recommended offer $2,320,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.22% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.73%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (median comp): $515,103
• List price: $2,550,000
• Delta: 395.05%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.7%
• Equity multiple: 1.28×
• Total profit: $196,380
• Equity at exit: $380,213

10-year hold

• IRR: 20.1%
• Equity multiple: 3.09×
• Total profit: $1,494,394
• Equity at exit: $220,477

Cash invested: $714,000 (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 31601

• Home prices YoY: -31.2%
• Rents YoY: 8.3%
• Active inventory: 198
• Price-to-rent: 260.4×

Monthly cashflow live

• Estimated rent: $31,142 medium
• Mortgage (P&I): −$13,372
• Tax est. 1.5%: −$3,188 /mo · $38,250/yr
• Insurance: −$1,062
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,540
• Net cashflow: $6,980

Break-even live

Break-even rent $22,307

Max offer price $2,550,000

Occupancy floor 73%

Sensitivity live

Price	-10% $8,742	-5% $7,861	+0% $6,980	+5% $6,099	+10% $5,217
Rent	-10% $4,519	-5% $5,750	+0% $6,980	+5% $8,210	+10% $9,440
Rate	-1.0pp $8,264	-0.5pp $7,628	base $6,980	+0.5pp $6,319	+1.0pp $5,647

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

Units	Beds	Baths	Est. rent
▸ 36× units	1	1	$29,376
▸ 2× units	2	1	$1,770
Total (38 units)			$31,142

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: $637,500
• Closing costs: $76,500
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-03
   days on market $2,550,000 Active 114 DOM
2. 2026-06-02
   days on market $2,550,000 Active 113 DOM
3. 2026-06-01
   days on market $2,550,000 Active 112 DOM
4. 2026-05-31
   days on market $2,550,000 Active 111 DOM
5. 2026-05-30
   days on market $2,550,000 Active 110 DOM
6. 2026-04-09
   price $2,550,000 1824-char remark

   Show marketing remark (1824 chars)

   Courlley Court II is a rare opportunity to invest in a turnkey, stabilized, and proven multifamily asset located in downtown Valdosta, Georgia. Offered at $2,550,000 (approximately $63,750 per unit). The property consists of 40 total units, including 38 residential apartments and two on-site offices. The residential unit mix includes 36 efficient one-bedroom/one-bath units and 2 two-bedroom/one-bath units, along with a manager's office and additional office space. Originally constructed as a motel, the property was completely gutted and converted to apartment use in 2022. All residential units were fully rebuilt and feature durable finishes and efficient layouts with kitchenettes, updated cabinetry, flooring, fixtures, and lighting. Kitchenettes include mini-refrigerators, two-burner electric cooktops, and microhood vent systems. Courlley Court II operates under the Housing Choice Voucher (formerly known as Section 8) federally-funded housing program, providing reliable, government-backed rental payments and consistent demand. Pro forma rents average $875 per residential unit, equating to $35,000 in monthly income ($420,000 annually). Using a conservative 40% operating expense ratio, the property supports a 9.9% pro forma cap rate at the asking price. All residential units are individually metered for electricity and directly billed to tenants by Georgia Power, reducing landlord utility exposure. Ownership provides hot water, property-wide Wi-Fi, and dumpster service. Additional amenities include an on-site tenant laundry room. Major capital improvements include a new Duro-Last commercial roof installed in 2025, complete with a 20-year transferable warranty, significantly reducing near-term capital expenditure risk. Member of seller entity is a licensed real estate associate broker in Georgia.

7. 2026-02-09
   listed $2,680,000 Active 1824-char remark

   Show marketing remark (1824 chars)

   Courlley Court II is a rare opportunity to invest in a turnkey, stabilized, and proven multifamily asset located in downtown Valdosta, Georgia. Offered at $2,550,000 (approximately $63,750 per unit). The property consists of 40 total units, including 38 residential apartments and two on-site offices. The residential unit mix includes 36 efficient one-bedroom/one-bath units and 2 two-bedroom/one-bath units, along with a manager's office and additional office space. Originally constructed as a motel, the property was completely gutted and converted to apartment use in 2022. All residential units were fully rebuilt and feature durable finishes and efficient layouts with kitchenettes, updated cabinetry, flooring, fixtures, and lighting. Kitchenettes include mini-refrigerators, two-burner electric cooktops, and microhood vent systems. Courlley Court II operates under the Housing Choice Voucher (formerly known as Section 8) federally-funded housing program, providing reliable, government-backed rental payments and consistent demand. Pro forma rents average $875 per residential unit, equating to $35,000 in monthly income ($420,000 annually). Using a conservative 40% operating expense ratio, the property supports a 9.9% pro forma cap rate at the asking price. All residential units are individually metered for electricity and directly billed to tenants by Georgia Power, reducing landlord utility exposure. Ownership provides hot water, property-wide Wi-Fi, and dumpster service. Additional amenities include an on-site tenant laundry room. Major capital improvements include a new Duro-Last commercial roof installed in 2025, complete with a 20-year transferable warranty, significantly reducing near-term capital expenditure risk. Member of seller entity is a licensed real estate associate broker in Georgia.

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

Taxation est. · year 1

• Rental income: $373,704
• − Mortgage interest: −$142,840
• − Property taxes: −$38,250
• − Insurance: −$12,750
• − Repairs & maintenance: −$29,896
• − Management: −$29,896
• − Depreciation: −$74,182
• Taxable income: $45,890
• Est. tax owed @ 24.0%: −$11,014
• After-tax cash flow: $72,743/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 · 0 photos

Good 80/100 Cosmetic rehab

This multifamily property is in good condition with cosmetic updates needed. It offers a rare opportunity to invest in a stabilized and proven asset in downtown Valdosta, Georgia.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the property's visual appeal and can attract more tenants or buyers.
• Both Painting interior walls and common areas — Fresh paint can improve the property's appearance and make it more attractive to potential tenants or buyers.
• Both Landscaping and curb appeal improvements — Enhances the property's visual appeal and can attract more tenants or buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the property's visual appeal and can attract more tenants or buyers. ↑
• Both Painting interior walls and common areas — Fresh paint can improve the property's appearance and make it more attractive to potential tenants or buyers. ↑
• Both Landscaping and curb appeal improvements — Enhances the property's visual appeal and can attract more tenants or buyers. ↑

ⓘ 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: Valdosta City
• NCES district ID: 1305310
• Math proficiency: 15% ▼ -12.00%
• Reading proficiency: 22% ▼ -7.00%
• Median HH income: $30,634
• Composite: 14.79/100
• National rank: #9388
• State rank: #149 of 174 in GA

Livability — Valdosta

• Score: 60/100
• State rank: #392
• US rank: #19544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Valdosta, GA
• County: Lowndes County · 107,801 people
• City population: 91,859
• Metro: Valdosta, GA
• Population (ZIP): 31,302
• Household income: $36,111
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 2016.0

Population outlook (Lowndes County) Hauer SSP2

• Today (2025): 120,348 people
• By 2030: 123,469 · +2.6%
• By 2040: 128,482 · +6.8%
• By 2050: 131,907 · +9.6%
• By 2075: 139,080 · +15.6%
• By 2100: 133,649 · +11.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 57% White 31% Hispanic / Latino 8% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 7% Korean 1%

Political lean MEDSL · Lowndes

• 2024 margin: R (+18.0) · D 40.8% · R 58.8%
• 2008→2024 swing: -8.6pp toward R · 2008: -9.4pp · 2024: -18.0pp
• All cycles: 2024: R+18.0 2020: R+12.0 2016: R+18.2 2012: R+10.5 2008: R+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.12%
• Current HPI: 121.5948
• Rent YoY: ▲ 8.34%
• Metro: Valdosta, 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

-4.9% since first listed

2 events — show timeline

• 2026-04-09 Price Changed $2,550,000 SGMLS
• 2026-02-09 Listed $2,680,000 SGMLS