2488 Reese Ave · Augusta-Richmond County consolidated government (balance), GA 30906

$78,900

2 bd · 1.0 ba · 1,025 sqft · SingleFamily public records · 31 Days on market

Built 1952 0.28 ac lot Est $89k · 12% 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 +30.0/30.0
• ARV discount +12.7/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this 3-bedroom, 1-bath home full of potential! Situated on a spacious lot with a fenced yard, this property is perfect for investors, flippers, or buyers looking to bring their vision to life. Inside, you'll find a functional layout with ample space to reimagine and restore. The fenced backyard offers privacy and room for pets, gardening, or outdoor entertaining. Conveniently located near schools, shopping, and major roadways, this fixer-upper is a chance to create value and make it your own. Bring your tools and imagination -- the possibilities are endless! * * property is located in a flood zone * *

Key facts

• Fenced yard
• Spacious lot
• Fenced backyard

Tags

• FENCED YARD
• SPACIOUS LOT
• FENCED BACKYARD

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer; Natural gas connected; Cable available; Water connected
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Wood siding and frame construction; Shingle roof; Crawl space (no basement)
• Exterior features: Porch; Back yard fencing; Corner lot; Has a view

Interior

• Kitchen: Gas water heater
• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating with natural gas
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $-25 ($-306/yr) — negative.
• To cash-flow at today's rent, offer at most $74k (5.7% below list).
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $74k (5.7% below list) — sets the bar for cash-flow.
• Cap rate 12.4% vs local median 5.3% in Augusta-Richmond County consolidated government (balance) — 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.
• Richmond County (urban): math 12% / reading 20% proficiency, ranked #154 of 174 in GA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.2%/yr); 364 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 561 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $545 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,399 (5.7% 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 31 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.45% ✓
• Cap rate: 12.39%
• Cash-on-cash: 21.79%
• DSCR: 1.97
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $89,175
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2472 Reese Ave	0.09mi	3/1.0 (+1)	1,025 (0%)	3mo	$89,400	$87	88
2469 Reese Ave	0.12mi	3/1.0 (+1)	1,025 (0%)	2mo	$85,000	$83	87
2520 Reese Ave	0.20mi	2/1.0	1,073 (+5%)	5mo	$76,000	$71	79
1977 Piedmont St	0.12mi	3/1.0 (+1)	1,025 (0%)	13mo	$129,901	$127	78
1755 Nixon Rd	0.49mi	3/1.0 (+1)	1,008 (-2%)	5mo	$17,000	$17	66
2560 Kaufman Dr	0.62mi	3/1.0 (+1)	1,008 (-2%)	2mo	$60,000	$60	62
2013 Shark Dr	0.55mi	3/1.0 (+1)	1,059 (+3%)	3mo	$133,000	$126	61
1907 Virginia Ave	0.16mi	3/2.0 (+1)	1,133 (+10%)	11mo	$128,900	$114	57
2425 Bass Ave	0.57mi	3/1.0 (+1)	1,014 (-1%)	13mo	$156,000	$154	56
2521 Hammond Ave	0.37mi	2/1.0	896 (-13%)	7mo	$65,000	$73	56
2400 Yates Dr	0.53mi	3/1.0 (+1)	888 (-13%)	8mo	$38,000	$43	41
2413 Yates Dr	0.63mi	3/1.0 (+1)	888 (-13%)	6mo	$112,300	$126	38

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.21×
• Total profit: $-17,511
• Equity at exit: $11,764

10-year hold

• IRR: -50.4%
• Equity multiple: -0.33×
• Total profit: $-29,281
• Equity at exit: $6,822

Cash invested: $22,092 (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 30906

• Home prices YoY: -21.6%
• Rents YoY: -0.2%
• Active inventory: 364
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,146 high
• Mortgage (P&I): −$414
• Tax from tax record: −$57 /mo · $688/yr
• Insurance: −$33
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $-25

Break-even live

Break-even rent $1,178

Max offer price $74,399

Occupancy floor 97%

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: $19,725
• Closing costs: $2,367
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2235 Woodward Ave Augusta, GA	2.0	1.0	773	$895	$1.16	44d	1	0.34mi
2401 Norfolk St Augusta, GA	2.0	1.0	991	$949	$0.96	43d	1	0.41mi
2020 Garr Dr Augusta, GA	3.0	1.0	1100	$1,200	$1.09	14d	1	0.62mi
2205 Southgate Dr Augusta, GA	1.0–2.0	1.0–1.5	770	$1,099	$1.43	14d	7	0.79mi
1822 Catalina Dr Augusta, GA	3.0	1.0	888	$1,350	$1.52	43d	1	0.90mi
1822 Catalina Dr Augusta, GA	3.0	1.0	888	$1,350	$1.52	23d	1	0.90mi
2119 Lumpkin Rd Augusta, GA	2.0	1.0–1.5	974	$912	$0.94	21d	6	0.91mi
2932 Abelia Dr Augusta, GA	3.0	1.0	888	$1,100	$1.24	43d	1	0.97mi
1940 Haynie Dr Unit 2 Augusta, GA	1.0	1.0	840	$850	$1.01	23d	1	1.19mi
1940 Haynie Dr Unit Main Augusta, GA	3.0	1.5	840	$1,500	$1.79	23d	1	1.19mi
1940 Haynie Dr Unit Main Augusta, GA	3.0	1.5	840	$1,500	$1.79	43d	1	1.19mi
526 Richmond Hill Rd W Augusta, GA	1.0	1.0	770	$810	$1.05	14d	1	1.23mi
1914 1/2 Kratha Dr Augusta, GA	2.0	1.0	1400	$995	$0.71	14d	1	1.25mi
3211 Kevin Dr Augusta, GA	3.0	1.5	1005	$1,275	$1.27	23d	1	1.26mi
3211 Kevin Dr Augusta, GA	3.0	1.5	1005	$1,275	$1.27	43d	1	1.26mi
2910 Richmond Hill Rd Augusta, GA	2.0	1.0	1000	$900	$0.90	43d	3	1.31mi
2230 Hollis Rd Augusta, GA	2.0	1.0	1000	$975	$0.97	43d	1	1.33mi

Listing history 15 events

1. 2026-06-18
   days on market $78,900 Active 31 DOM
2. 2026-06-17
   days on market $78,900 Active 30 DOM
3. 2026-06-16
   days on market $78,900 Active 29 DOM
4. 2026-06-15
   days on market $78,900 Active 28 DOM
5. 2026-06-14
   days on market $78,900 Active 26 DOM
6. 2026-06-10
   days on market $78,900 Active 23 DOM
7. 2026-06-09
   days on market $78,900 Active 22 DOM
8. 2026-06-08
   days on market $78,900 Active 21 DOM
9. 2026-06-07
   days on market $78,900 Active 20 DOM
10. 2026-06-03
    days on market $78,900 Active 16 DOM
11. 2026-06-02
    days on market $78,900 Active 15 DOM
12. 2026-06-01
    days on market $78,900 Active 14 DOM
13. 2026-05-31
    days on market $78,900 Active 13 DOM
14. 2026-05-30
    days on market $78,900 Active 12 DOM
15. 2026-05-15
    listed $78,900 Active

ⓘ 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: $688 · $57/mo
• Projected year-2 tax: $726 · $60/mo
• Expected delta: +$38/yr (+$3/mo · 5.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 67% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,747
• − Mortgage interest: −$4,420
• − Property taxes: −$688
• − Insurance: −$5,513
• − Repairs & maintenance: −$1,100
• − Management: −$1,100
• − Depreciation: −$2,295
• Taxable loss: −$1,368
• Est. tax savings @ 24.0%: +$328
• After-tax cash flow: $23/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: Richmond County
• NCES district ID: 1304380
• Math proficiency: 12% ▼ -9.00%
• Reading proficiency: 20% ▼ -6.00%
• Median HH income: $38,069
• Composite: 13.43/100
• National rank: #9524
• State rank: #154 of 174 in GA

Livability — Augusta-Richmond County consolidated government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Augusta-Richmond County consolidated government (balance), GA
• County: Richmond County · 190,917 people
• City population: 154,035
• Metro: Augusta-Richmond County, GA-SC
• Population (ZIP): 60,423
• Household income: $45,999
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3363.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 200,753 people
• By 2030: 200,232 · -0.3%
• By 2040: 196,813 · -2.0%
• By 2050: 190,347 · -5.2%
• By 2075: 172,496 · -14.1%
• By 2100: 146,284 · -27.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (64%)
• Race & ethnicity: Black 64% White 27% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+36.1) · D 67.8% · R 31.7%
• 2008→2024 swing: +4.3pp toward D · 2008: 31.8pp · 2024: 36.1pp
• All cycles: 2024: D+36.1 2020: D+37.2 2016: D+32.4 2012: D+33.8 2008: D+31.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.99%
• Current HPI: 213.5733
• Rent YoY: ▼ -0.25%
• Metro: Augusta-Richmond County, GA-SC
• 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

1 event — show timeline

• 2026-05-15 Listed $78,900 Hive MLS

Property tax history

+3.6%/yr

Latest (2025): $688 · +7.1% YoY. Source: county tax records.