199 Story Ln · Albany, GA 31763

$156,000

3 bd · 2.0 ba · 2,522 sqft · SingleFamily public records · 10 Days on market

Built 1988 1.00 ac lot ↓ 40% 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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +6.1/10.0
• Schools +3.9/10.0
• Rent growth +3.1/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4-bedroom, 3-bath home situated on a large lot with plenty of room to grow. Features include a sunroom, bonus room, and a comfortable living room with a fireplace. The backyard offers an in-ground pool and ample outdoor space for entertaining, recreation, or future improvements. With generous square footage and flexible living areas, this property presents an excellent opportunity for buyers looking to add their personal touches and build equity. Loads of potential at an attractive price.

Key facts

• In-ground pool
• Bonus room
• Sunroom

Tags

• SUNROOM
• BONUS ROOM
• IN-GROUND POOL
• OUTDOOR SPACE

Property features AI

Exterior

• Parking: Open parking; Concrete parking pad
• Utilities: Water connected; Septic tank
• Home design: Single-family residence; One level
• Construction: Brick construction; Shingle roof
• Exterior features: Porch; 1-acre lot

Interior

• Kitchen: Dishwasher
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Fireplace heating; Central air conditioning; Ceiling fan(s)
• Interior features: Fireplace; Dishwasher

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $156k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $156k).
• Cap rate 8.1% 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.
• Lee County (rural): math 44% / reading 45% proficiency, ranked #21 of 174 in GA (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 203 active listings in the ZIP; solid renter incomes; 133 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Lee County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 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

• Climate carrying-cost: major flood risk; severe wind risk, 94% 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 $156,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 1.11% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.22% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-11,596
• Equity at exit: $23,260

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $3,972
• Equity at exit: $13,488

Cash invested: $43,680 (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 31763

• Home prices YoY: -15.9%
• Rents YoY: 2.2%
• Active inventory: 203
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,736 medium
• Mortgage (P&I): −$818
• Tax from tax record: −$253 /mo · $3,037/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $235

Break-even live

Break-even rent $1,438

Max offer price $156,000

Occupancy floor 81%

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: $39,000
• Closing costs: $4,680
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-19
   days on market $156,000 Active 10 DOM
2. 2026-06-18
   days on market $156,000 Active 9 DOM
3. 2026-06-17
   days on market $156,000 Active 8 DOM
4. 2026-06-16
   days on market $156,000 Active 7 DOM
5. 2026-06-15
   days on market $156,000 Active 6 DOM
6. 2026-06-14
   days on market $156,000 Active 4 DOM
7. 2026-06-13
   days on market $156,000 Active 3 DOM
8. 2026-06-09
   remarks 502-char remark

   Show marketing remark (502 chars)

   Spacious 4-bedroom, 3-bath home situated on a large lot with plenty of room to grow. Features include a sunroom, bonus room, and a comfortable living room with a fireplace. The backyard offers an in-ground pool and ample outdoor space for entertaining, recreation, or future improvements. With generous square footage and flexible living areas, this property presents an excellent opportunity for buyers looking to add their personal touches and build equity. Loads of potential at an attractive price.

9. 2026-06-09
   listed $156,000 Active 1 DOM

   Show marketing remark (502 chars)

   Spacious 4-bedroom, 3-bath home situated on a large lot with plenty of room to grow. Features include a sunroom, bonus room, and a comfortable living room with a fireplace. The backyard offers an in-ground pool and ample outdoor space for entertaining, recreation, or future improvements. With generous square footage and flexible living areas, this property presents an excellent opportunity for buyers looking to add their personal touches and build equity. Loads of potential at an attractive price.

ⓘ 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: $3,037 · $253/mo
• Projected year-2 tax: $3,037 · $253/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 94% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,829
• − Mortgage interest: −$8,738
• − Property taxes: −$3,037
• − Insurance: −$780
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − Depreciation: −$4,538
• Taxable income: $403
• Est. tax owed @ 24.0%: −$97
• After-tax cash flow: $2,724/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: Lee County
• NCES district ID: 1303270
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $60,449
• Composite: 39.23/100
• National rank: #4009
• State rank: #21 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

• County: Lee County · 29,271 people
• City population: 89,040
• Metro: Albany, GA
• Population (ZIP): 29,271
• Household income: $88,312
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 700.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 31,140 people
• By 2030: 31,753 · +2.0%
• By 2040: 32,710 · +5.0%
• By 2050: 33,476 · +7.5%
• By 2075: 35,113 · +12.8%
• By 2100: 34,821 · +11.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 24% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Korean 1% Other Indo-European 1%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+43.5) · D 28.0% · R 71.6%
• 2008→2024 swing: +8.6pp toward D · 2008: -52.1pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+44.6 2016: R+53.0 2012: R+52.4 2008: R+52.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.33%
• Current HPI: 187.3672
• Rent YoY: ▲ 2.22%
• 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

-40.0% since first listed

3 events — show timeline

• 2026-06-09 Listed $156,000 MBOR
• 2026-06-09 Listed $156,000 SWGABOR
• 2022-07-01 Sold (Public Records) $260,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $3,037 · +30.8% YoY. Source: county tax records.