306 Elsom St · Albany, GA 31705

$239,900

4 bd · 2.0 ba · 2,430 sqft · MultiFamily public records · 71 Days on market

Built 1950 1.18 ac lot

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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 +13.2/30.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• DSCR +4.0/10.0
• 1% rule +3.7/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investment opportunity that includes 2 duplexes and 1 triplex! Make your money work for you by purchasing these income-producing units! Each unit in the triplex has central heating and air, 2 bedrooms and 1 bathroom . Outside of the triplex, the metal roof was placed in 2014 and the yard is completely fenced in. The duplex on 219 Mock Rd is 1924 square feet and has 3 bedrooms and 2 bathrooms total. The duplex behind 219 Mock Rd is 1496 square feet and has a total of 4 bedrooms and 2 bathrooms while the metal roof was installed in 2018. Total monthly income is $3955 with 2 empty units that are ready to be rented.

Key facts

• 1.18 acre lot
• Built 1950
• Listed 70 days

Property features AI

Finance

• Other: Located on 1.18 acres

Exterior

• Security: Smoke detector(s)
• Home design: Multi-family residential (duplex/quad/multi-unit); Single-story
• Construction: Shingle roof; Slab foundation
• Exterior features: Covered patio/porch; Chain link fencing; Corner lot

Interior

• Bathrooms: Seven full bathrooms
• Heating & cooling: Ceiling fans; Has cooling
• Interior features: Pantry; Smoke detectors
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $-3 ($-33/yr) — negative. Per door: $-1/mo.
• To cash-flow at today's rent, offer at most $239k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (13.5% below list).
• Recommended offer: $208k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Dougherty County (urban): math 12% / reading 16% proficiency, ranked #163 of 174 in GA (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.1%/yr); 128 active listings in the ZIP; lower-income renter base — watch delinquency; 45 units permitted in Dougherty County in 2024 (20 in 5+ unit buildings).
• At $2,076/mo this rent would consume 58% of the median local household income ($43k/yr) (locally 1933% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Dougherty County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 2y ago; this cycle's ask is 42360% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 98% 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 $207,600 (13.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.87% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.0%
• Equity multiple: 0.58×
• Total profit: $-28,055
• Equity at exit: $35,770

10-year hold

• IRR: 4.2%
• Equity multiple: 1.38×
• Total profit: $25,370
• Equity at exit: $20,742

Cash invested: $67,172 (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 31705

• Home prices YoY: -20.1%
• Rents YoY: 8.1%
• Active inventory: 128
• Price-to-rent: 19.3×

Monthly cashflow live

• Estimated rent: $2,076 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$285 /mo · $3,417/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $-3

Break-even live

Break-even rent $2,079

Max offer price $239,417

Occupancy floor 95%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,076
Total (2 units)			$2,076

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-19
   days on market $239,900 Active 71 DOM
2. 2026-06-18
   days on market $239,900 Active 70 DOM
3. 2026-06-17
   days on market $239,900 Active 69 DOM
4. 2026-06-16
   days on market $239,900 Active 68 DOM
5. 2026-06-15
   days on market $239,900 Active 67 DOM
6. 2026-06-14
   days on market $239,900 Active 65 DOM
7. 2026-06-13
   days on market $239,900 Active 64 DOM
8. 2026-06-10
   days on market $239,900 Active 62 DOM
9. 2026-06-09
   days on market $239,900 Active 61 DOM
10. 2026-06-08
    days on market $239,900 Active 60 DOM
11. 2026-06-07
    days on market $239,900 Active 59 DOM
12. 2026-06-05
    days on market $239,900 Active 56 DOM
13. 2026-06-02
    days on market $239,900 Active 54 DOM
14. 2026-06-01
    days on market $239,900 Active 53 DOM
15. 2026-05-31
    days on market $239,900 Active 52 DOM
16. 2026-05-30
    days on market $239,900 Active 51 DOM
17. 2026-05-18
    status Active
18. 2026-05-05
    status Pending
19. 2026-04-06
    status Active
20. 2026-04-06
    price $239,900
21. 2026-02-20
    status Pending
22. 2026-02-13
    historical $565
23. 2026-02-12
    historical $565
24. 2026-01-15
    listed $565
25. 2026-01-10
    listed $565
26. 2025-12-26
    historical $565
27. 2025-12-05
    listed $565
28. 2025-09-08
    listed $255,000 Active
29. 2024-12-15
    historical $565
30. 2024-12-07
    listed $565
31. 2024-11-26
    historical $565
32. 2024-10-25
    listed $565
33. 2024-08-16
    soldstatus $270,000 Sold 619-char remark

    Show marketing remark (619 chars)

    Investment opportunity that includes 2 duplexes and 1 triplex! Make your money work for you by purchasing these income-producing units! Each unit in the triplex has central heating and air, 2 bedrooms and 1 bathroom . Outside of the triplex, the metal roof was placed in 2014 and the yard is completely fenced in. The duplex on 219 Mock Rd is 1924 square feet and has 3 bedrooms and 2 bathrooms total. The duplex behind 219 Mock Rd is 1496 square feet and has a total of 4 bedrooms and 2 bathrooms while the metal roof was installed in 2018. Total monthly income is $3955 with 2 empty units that are ready to be rented.

34. 2024-08-16
    soldstatus $270,000

    Show marketing remark (619 chars)

    Investment opportunity that includes 2 duplexes and 1 triplex! Make your money work for you by purchasing these income-producing units! Each unit in the triplex has central heating and air, 2 bedrooms and 1 bathroom . Outside of the triplex, the metal roof was placed in 2014 and the yard is completely fenced in. The duplex on 219 Mock Rd is 1924 square feet and has 3 bedrooms and 2 bathrooms total. The duplex behind 219 Mock Rd is 1496 square feet and has a total of 4 bedrooms and 2 bathrooms while the metal roof was installed in 2018. Total monthly income is $3955 with 2 empty units that are ready to be rented.

35. 2024-07-06
    status Under Contract 619-char remark

    Show marketing remark (619 chars)

    Investment opportunity that includes 2 duplexes and 1 triplex! Make your money work for you by purchasing these income-producing units! Each unit in the triplex has central heating and air, 2 bedrooms and 1 bathroom . Outside of the triplex, the metal roof was placed in 2014 and the yard is completely fenced in. The duplex on 219 Mock Rd is 1924 square feet and has 3 bedrooms and 2 bathrooms total. The duplex behind 219 Mock Rd is 1496 square feet and has a total of 4 bedrooms and 2 bathrooms while the metal roof was installed in 2018. Total monthly income is $3955 with 2 empty units that are ready to be rented.

36. 2024-07-02
    listed $280,000 New 619-char remark

    Show marketing remark (619 chars)

    Investment opportunity that includes 2 duplexes and 1 triplex! Make your money work for you by purchasing these income-producing units! Each unit in the triplex has central heating and air, 2 bedrooms and 1 bathroom . Outside of the triplex, the metal roof was placed in 2014 and the yard is completely fenced in. The duplex on 219 Mock Rd is 1924 square feet and has 3 bedrooms and 2 bathrooms total. The duplex behind 219 Mock Rd is 1496 square feet and has a total of 4 bedrooms and 2 bathrooms while the metal roof was installed in 2018. Total monthly income is $3955 with 2 empty units that are ready to be rented.

37. 2013-11-13
    soldstatus $190,888
38. 2007-04-16
    soldstatus $155,000

ⓘ 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: $3,417 · $285/mo
• Projected year-2 tax: $3,417 · $285/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,912
• − Mortgage interest: −$13,438
• − Property taxes: −$3,417
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,993
• − Management: −$1,993
• − Depreciation: −$6,979
• Taxable loss: −$4,108
• Est. tax savings @ 24.0%: +$986
• After-tax cash flow: $953/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: Dougherty County
• NCES district ID: 1301830
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 16% ▼ -9.00%
• Median HH income: $33,105
• Composite: 11.31/100
• National rank: #9716
• State rank: #163 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

• Census place: Albany, GA
• County: Dougherty County · 89,040 people
• City population: 89,040
• Metro: Albany, GA
• Population (ZIP): 30,791
• Household income: $42,972
• Rent vs Own: 51.6% rent · 48.4% own
• Severe rent burden: 1933.0

Population outlook (Dougherty County) Hauer SSP2

• Today (2025): 84,551 people
• By 2030: 80,637 · -4.6%
• By 2040: 72,090 · -14.7%
• By 2050: 64,056 · -24.2%
• By 2075: 46,332 · -45.2%
• By 2100: 33,127 · -60.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 23% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Asian/Pacific 1%

Political lean MEDSL · Dougherty

• 2024 margin: Solid D (+41.1) · D 70.4% · R 29.3%
• 2008→2024 swing: +6.2pp toward D · 2008: 35.0pp · 2024: 41.1pp
• All cycles: 2024: D+41.1 2020: D+40.0 2016: D+38.3 2012: D+39.0 2008: D+35.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.46%
• Current HPI: 152.4574
• Rent YoY: ▲ 8.10%
• 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

+54.8% since first listed

22 events — show timeline

• 2026-05-18 Relisted — SWGABOR
• 2026-05-05 Pending — SWGABOR
• 2026-04-06 Relisted — SWGABOR
• 2026-04-06 Price Changed $239,900 SWGABOR
• 2026-02-20 Pending — SWGABOR
• 2026-02-13 Rental Removed $565 APPFOLIO
• 2026-02-12 Rental Removed $565 APPFOLIO
• 2026-01-15 Listed for Rent $565 APPFOLIO
• 2026-01-10 Listed for Rent $565 APPFOLIO
• 2025-12-26 Rental Removed $565 APPFOLIO
• 2025-12-05 Listed for Rent $565 APPFOLIO
• 2025-09-08 Listed $255,000 SWGABOR
• 2024-12-15 Rental Removed $565 APPFOLIO
• 2024-12-07 Listed for Rent $565 APPFOLIO
• 2024-11-26 Rental Removed $565 APPFOLIO
• 2024-10-25 Listed for Rent $565 APPFOLIO
• 2024-08-16 Sold (Public Records) $270,000 Public Records
• 2024-08-16 Sold (MLS) $270,000 GAMLS
• 2024-07-06 Pending — GAMLS
• 2024-07-02 Listed $280,000 GAMLS
• 2013-11-13 Sold (Public Records) $190,888 Public Records
• 2007-04-16 Sold (Public Records) $155,000 Public Records

Property tax history

+14.8%/yr

Latest (2025): $3,417 · +6.1% YoY. Source: county tax records.