3110 Morehouse St · Columbus, GA 31906

$115,000

3 bd · 1.0 ba · 1,023 sqft · SingleFamily public records · 88 Days on market

Built 1951 5,662 sqft lot $112/sqft · 77% above area ↓ 17% since listing

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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 +19.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.3/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors: income-producing property with tenant in place. Start collecting rent immediately at closing. No renovation delays, no lease-up period - just consistent rental income from a performing asset. Located in Columbus with strong rental demand, this property is positioned for long-term portfolio growth. Tenant-occupied; please do not disturb. Access provided with acceptable offer and proof of funds. Serious inquiries only.

Key facts

• 5,662 sq ft lot
• Built 1951
• Listed 88 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $127 ($2k/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 $107k (7.1% below list).
• Recommended offer: $107k (7.1% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 4.7% in Columbus — 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 64/100 on livability (#254 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: amenities D+, schools F, crime F.
• Muscogee County (urban): math 21% / reading 30% proficiency, ranked #120 of 174 in GA (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.8%/yr); 118 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Muscogee County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 76% 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 $106,880 (7.1% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — 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. 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?
6. 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?
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 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: 0.93% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 9.0

CMA / ARV

• ARV (median comp): $64,955
• List price: $115,000
• Delta: 77.05%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1043 Vera Dr	0.40mi	3/1.0	1,045 (+2%)	3mo	$62,500	$60	76
2835 Thomas St	0.32mi	2/1.0 (-1)	1,004 (-2%)	5mo	$35,000	$35	73
2830 East Wynnton Ln	0.28mi	3/1.0	1,020 (-0%)	16mo	$70,000	$69	73
938 Diggs Ave	0.34mi	3/1.0	925 (-10%)	7mo	$48,500	$52	62
3011 Colorado St	0.16mi	2/1.0 (-1)	894 (-13%)	9mo	$66,000	$74	59
2822 Colorado St	0.32mi	2/2.0 (-1)	1,120 (+10%)	2mo	$41,000	$37	59
2930 Hood St	0.18mi	3/1.0	1,176 (+15%)	13mo	$65,000	$55	56
2429 Bell St	0.62mi	2/1.0 (-1)	966 (-6%)	6mo	$22,142	$23	52
2810 Thomas St	0.38mi	3/2.0	1,161 (+14%)	5mo	$90,000	$78	52
3003 Melrose Dr	0.25mi	3/1.0	1,176 (+15%)	15mo	$95,000	$81	51
959 Brighton Rd	0.72mi	3/1.0	1,050 (+3%)	16mo	$108,900	$104	49
2723 Fern St	0.50mi	3/2.0	1,150 (+12%)	10mo	$149,000	$130	43

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 · 4.82% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.73×
• Total profit: $-8,570
• Equity at exit: $17,147

10-year hold

• IRR: 4.5%
• Equity multiple: 1.35×
• Total profit: $11,330
• Equity at exit: $9,943

Cash invested: $32,200 (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 31906

• Rents YoY: 4.8%
• Active inventory: 118
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,069 high
• Mortgage (P&I): −$603
• Tax from tax record: −$66 /mo · $794/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $127

Break-even live

Break-even rent $908

Max offer price $115,000

Occupancy floor 83%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3128 Carver St Columbus, GA	3.0	1.0	988	$925	$0.94	21d	1	0.14mi
3128 Carver St Columbus, GA	3.0	1.0	988	$1,000	$1.01	43d	1	0.14mi
3309 10th St Columbus, GA	3.0	1.0	1080	$950	$0.88	43d	1	0.16mi
3503 Ruben St Columbus, GA	4.0	1.0	1054	$1,100	$1.04	13d	1	0.39mi
2728 9th St Columbus, GA	3.0	1.0	880	$865	$0.98	43d	1	0.46mi
2724 9th St Columbus, GA	2.0	1.0	900	$875	$0.97	13d	1	0.46mi
2801 Fern St Columbus, GA	3.0	1.0	1100	$975	$0.89	43d	1	0.52mi
2750 Mimosa St Columbus, GA	3.0	1.5	1357	$1,250	$0.92	13d	1	0.55mi
2834 Mimosa St Columbus, GA	3.0	1.5	1257	$1,100	$0.88	43d	1	0.57mi
2983 Buena Vista Rd Columbus, GA	2.0	1.0	920	$735	$0.80	43d	1	0.60mi
564 Chesterfield Ave Columbus, GA	3.0	2.0	1230	$1,100	$0.89	21d	1	0.70mi
1111 Henry Ave Columbus, GA	3.0	2.0	1407	$1,200	$0.85	43d	1	0.71mi
1521 Dixon Dr Columbus, GA	2.0	2.0	1400	$1,400	$1.00	13d	1	0.76mi
1400 Boxwood Blvd Columbus, GA	2.0–3.0	2.0	1262	$1,355	$1.07	13d	6	0.78mi
2201 Heard St Columbus, GA	2.0	1.0	1005	$975	$0.97	21d	1	0.99mi
1258 Cedar Ave Columbus, GA	2.0	2.0	1220	$1,400	$1.15	43d	1	1.02mi
1514 Forest Ave Columbus, GA	2.0	1.5	1128	$840	$0.74	43d	1	1.05mi
1219 Eberhart Ave Unit 2 Columbus, GA	2.0	1.0	1100	$1,100	$1.00	13d	1	1.12mi
3911 Steam Mill Rd Columbus, GA	1.0–3.0	1.0–2.0	959	$1,200	$1.25	13d	12	1.12mi
3902 N Linden Dr Columbus, GA	2.0	1.0	722	$850	$1.18	13d	1	1.14mi
920 Rosewood Dr Columbus, GA	4.0	1.0	1325	$1,350	$1.02	21d	1	1.35mi
2602 Garden Dr Columbus, GA	3.0	2.0	1250	$1,175	$0.94	21d	1	1.36mi
2630 Garden Dr Columbus, GA	2.0	1.0	1008	$755	$0.75	43d	1	1.36mi

Listing history 14 events

1. 2026-05-31
   days on market $115,000 Active 88 DOM
2. 2026-05-30
   days on market $115,000 Active 87 DOM
3. 2026-04-22
   price $95,000 443-char remark

   Show marketing remark (443 chars)

   Attention investors: income-producing property with tenant in place. Start collecting rent immediately at closing. No renovation delays, no lease-up period - just consistent rental income from a performing asset. Located in Columbus with strong rental demand, this property is positioned for long-term portfolio growth. Tenant-occupied; please do not disturb. Access provided with acceptable offer and proof of funds. Serious inquiries only.

4. 2026-03-03
   listed $115,000 New 443-char remark

   Show marketing remark (449 chars)

   Attention investors: income-producing property with tenant in place. Start collecting rent immediately at closing. No renovation delays, no lease-up period – just consistent rental income from a performing asset. Located in Columbus with strong rental demand, this property is positioned for long-term portfolio growth. Tenant-occupied; please do not disturb. Access provided with acceptable offer and proof of funds. Serious inquiries only.

5. 2026-03-03
   listed $115,000 Active 449-char remark

   Show marketing remark (449 chars)

   Attention investors: income-producing property with tenant in place. Start collecting rent immediately at closing. No renovation delays, no lease-up period – just consistent rental income from a performing asset. Located in Columbus with strong rental demand, this property is positioned for long-term portfolio growth. Tenant-occupied; please do not disturb. Access provided with acceptable offer and proof of funds. Serious inquiries only.

6. 2026-01-22
   historical $800
7. 2025-09-27
   price $800
8. 2025-09-13
   listed $850
9. 2024-10-21
   historical $850
10. 2024-10-17
    listed $850
11. 2024-02-01
    historical $900
12. 2024-01-26
    listed $900
13. 2024-01-21
    historical $900
14. 2023-07-21
    listed $900

ⓘ 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: $794 · $66/mo
• Projected year-2 tax: $1,058 · $88/mo
• Expected delta: +$264/yr (+$22/mo · 33.3%)

ⓘ 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 ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,826
• − Mortgage interest: −$6,442
• − Property taxes: −$794
• − Insurance: −$575
• − Repairs & maintenance: −$1,026
• − Management: −$1,026
• − Depreciation: −$3,345
• Taxable loss: −$382
• Est. tax savings @ 24.0%: +$92
• After-tax cash flow: $1,619/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: Muscogee County
• NCES district ID: 1303870
• Math proficiency: 21% ▼ -11.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $41,176
• Composite: 21.6/100
• National rank: #8297
• State rank: #120 of 174 in GA

Livability — Columbus

• Score: 64/100
• State rank: #254
• US rank: #14102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, GA
• County: Muscogee County · 180,764 people
• City population: 180,764
• Metro: Columbus, GA-AL
• Population (ZIP): 20,400
• Household income: $44,965
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 1003.0

Population outlook (Muscogee County) Hauer SSP2

• Today (2025): 216,729 people
• By 2030: 224,504 · +3.6%
• By 2040: 238,318 · +10.0%
• By 2050: 249,027 · +14.9%
• By 2075: 264,862 · +22.2%
• By 2100: 254,786 · +17.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (64%)
• Race & ethnicity: Black 64% White 28% Hispanic / Latino 4% Two or more races 3% Asian 1%
• Common ancestry: Slovak 1% Lithuanian 1% Hispanic 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Muscogee

• 2024 margin: Strong D (+23.4) · D 61.4% · R 38.0%
• 2008→2024 swing: +3.7pp toward D · 2008: 19.7pp · 2024: 23.4pp
• All cycles: 2024: D+23.4 2020: D+24.0 2016: D+18.6 2012: D+21.3 2008: D+19.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.49%
• Current HPI: 113.2749
• Rent YoY: ▲ 4.82%
• Metro: Columbus, GA-AL
• 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

-17.4% since first listed

12 events — show timeline

• 2026-04-22 Price Changed $95,000 GAMLS
• 2026-03-03 Listed $115,000 FMLS
• 2026-03-03 Listed $115,000 GAMLS
• 2026-01-22 Rental Removed $800 TENANTTURNER2
• 2025-09-27 Price Changed $800 TENANTTURNER2
• 2025-09-13 Listed for Rent $850 TENANTTURNER2
• 2024-10-21 Rental Removed $850 RENTALBEAST
• 2024-10-17 Listed for Rent $850 RENTALBEAST
• 2024-02-01 Rental Removed $900 BUILDIUM
• 2024-01-26 Listed for Rent $900 BUILDIUM
• 2024-01-21 Rental Removed $900 BUILDIUM
• 2023-07-21 Listed for Rent $900 BUILDIUM

Property tax history

+3.1%/yr

Latest (2025): $794 · -0.9% YoY. Source: county tax records.