4015 Harrison Ave · Columbus, GA 31904

$89,000

2 bd · 1.0 ba · 1,142 sqft · SingleFamily public records · 4 Days on market

Built 1955 10,454 sqft lot $78/sqft · 25% below area Est $119k · 25% 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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Located in a desirable area of Columbus, this 2-bedroom, 1.5-bath home offers 1,142 square feet of potential and opportunity! Situated on a beautiful corner lot with a spacious yard, this property is perfect for investors, first-time buyers, or anyone looking to add their own personal touch. With a little TLC, this home could truly shine. Conveniently located near dining, shopping, and everyday amenities, the property also comes equipped with a Generac generator system for added peace of mind. Being sold as-is, this is a fantastic chance to own a home in a great location at an excellent value. Home sold as is, cash/conventional

Key facts

• Spacious yard
• Corner lot
• 0.24 acre lot

Tags

• CORNER LOT
• SPACIOUS YARD
• GENERAC GENERATOR SYSTEM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Cap rate 10.2% 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 (+3.0%/yr); 327 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $615 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $89,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.29% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.95%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (median comp): $118,500
• List price: $89,000
• Delta: -24.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1812 42nd St	0.35mi	3/1.0 (+1)	1,107 (-3%)	0mo	$130,000	$117	73
1010 Neil Dr	0.51mi	2/1.0	1,099 (-4%)	0mo	$35,500	$32	70
1009 Neil Dr	0.51mi	2/1.5	1,052 (-8%)	1mo	$95,000	$90	60
4213 17th Ave	0.26mi	2/1.0	980 (-14%)	8mo	$75,000	$77	58
4717 16th Ave	0.52mi	3/1.0 (+1)	1,064 (-7%)	6mo	$78,000	$73	55
1717 42nd St	0.29mi	3/2.0 (+1)	1,270 (+11%)	5mo	$189,000	$149	54
3640 Calvin Dr	0.51mi	3/2.0 (+1)	1,254 (+10%)	2mo	$177,500	$142	49
2103 Terrace Dr	0.51mi	2/1.0	983 (-14%)	5mo	$100,000	$102	49
4714 18th Ave	0.59mi	3/1.0 (+1)	1,040 (-9%)	5mo	$114,000	$110	48
1918 Rosemont Dr	0.49mi	3/1.0 (+1)	1,280 (+12%)	6mo	$147,000	$115	47
1616 30th St	0.66mi	2/1.0	1,293 (+13%)	2mo	$169,900	$131	45
2016 40th St	0.49mi	3/2.0 (+1)	1,264 (+11%)	8mo	$162,000	$128	44

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 · 3.04% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.16×
• Total profit: $4,090
• Equity at exit: $13,270

10-year hold

• IRR: 13.8%
• Equity multiple: 2.11×
• Total profit: $27,576
• Equity at exit: $7,695

Cash invested: $24,920 (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 31904

• Rents YoY: 3.0%
• Active inventory: 327
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,145 high
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $290

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 70%

Sensitivity live

Price	-10% $351	-5% $320	+0% $290	+5% $259	+10% $228
Rent	-10% $199	-5% $244	+0% $290	+5% $335	+10% $380
Rate	-1.0pp $334	-0.5pp $312	base $290	+0.5pp $267	+1.0pp $243

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3822 Howard Ave Unit A Columbus, GA	2.0	1.0	1241	$1,150	$0.93	44d	1	0.14mi
4207 17th Ave Columbus, GA	3.0	1.0	1006	$1,350	$1.34	44d	1	0.23mi
3519 Woodlawn Ave Columbus, GA	3.0	1.0	1028	$1,350	$1.31	14d	1	0.32mi
4022 Young Ave Columbus, GA	3.0	1.5	1300	$1,100	$0.85	44d	1	0.37mi
3909 Crestview Dr Columbus, GA	3.0	1.0	1110	$1,250	$1.13	14d	1	0.40mi
1121 47th St Columbus, GA	2.0	1.0	800	$950	$1.19	44d	1	0.57mi
4025 Acacia Dr Columbus, GA	3.0	1.0	1186	$1,250	$1.05	21d	1	0.61mi
4705 20th Ave Apt 2 Columbus, GA	2.0	1.5	1127	$1,100	$0.98	14d	1	0.63mi
2005 Cherokee Dr Columbus, GA	2.0	1.0	891	$925	$1.04	44d	1	0.73mi
4308 Saint Francis Ave Unit 4310 Columbus, GA	2.0	1.0	1000	$1,125	$1.12	21d	1	0.77mi
635 42nd St Columbus, GA	2.0	1.0	1008	$750	$0.74	21d	1	0.78mi
3011 18th Ave Apt F Columbus, GA	2.0	1.0	750	$700	$0.93	44d	1	0.79mi
4226 Oates Ave Columbus, GA	3.0	1.5	960	$1,100	$1.15	21d	1	0.82mi
2922 Howard Ave Unit 3 Columbus, GA	2.0	2.0	1100	$795	$0.72	44d	1	0.82mi
1410 Talbotton Rd Columbus, GA	2.0	1.0	800	$675	$0.84	44d	3	0.83mi
1510 28th St Columbus, GA	3.0	2.0	1050	$800	$0.76	44d	1	0.91mi
521 46th St Columbus, GA	2.0	1.0	954	$975	$1.02	44d	1	0.98mi
615 32nd St Columbus, GA	3.0	1.0	984	$900	$0.91	14d	1	1.00mi
2807 Beacon Ave Unit B Columbus, GA	2.0	2.5	1015	$1,350	$1.33	44d	1	1.02mi
2807 Beacon Ave Unit A Columbus, GA	2.0	2.0	1014	$1,250	$1.23	44d	1	1.02mi
2601 Cherokee Ave Unit 2 Columbus, GA	1.0	1.0	750	$750	$1.00	44d	1	1.09mi
3711 Armour Ave Apt 21 Columbus, GA	2.0	1.0	1200	$1,057	$0.88	44d	1	1.09mi
403 46th St Columbus, GA	3.0	2.0	1410	$1,550	$1.10	21d	1	1.09mi
3821 Armour Ave Columbus, GA	2.0	2.0	1200	$1,100	$0.92	44d	1	1.10mi
4001 3rd Ave Unit A or B Columbus, GA	1.0	1.0	800	$750	$0.94	14d	1	1.12mi
1344 24th St Columbus, GA	2.0	1.0	750	$775	$1.03	21d	1	1.15mi
3414 3rd Ave Columbus, GA	1.0	1.0	810	$850	$1.05	21d	1	1.16mi
707 28th St Columbus, GA	3.0	1.0	1384	$1,000	$0.72	14d	1	1.16mi
2840 Warm Springs Rd Columbus, GA	1.0–2.0	1.0–2.0	1196	$1,500	$1.25	14d	8	1.21mi
108 Comer St Columbus, GA	2.0	1.0	1180	$1,050	$0.89	14d	1	1.21mi
5000 Armour Rd Columbus, GA	1.0	1.0	747	$800	$1.07	44d	1	1.23mi
1061 54th St Columbus, GA	3.0	1.0	1005	$1,100	$1.09	21d	1	1.43mi

Listing history 2 events

1. 2026-05-18
   status Pending 635-char remark
2. 2026-05-14
   listed $89,000 Active 635-char remark

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% 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 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,743
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,099
• − Management: −$1,099
• − Depreciation: −$2,589
• Taxable income: $2,189
• Est. tax owed @ 24.0%: −$525
• After-tax cash flow: $2,950/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): 35,405
• Household income: $66,291
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 2030.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 56% Black 28% Two or more races 8% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 4% Korean 1% German/W. Germanic 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: ▼ -152.06%
• Current HPI: 155.1405
• Rent YoY: ▲ 3.04%
• 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

1 event — show timeline

• 2026-06-02 Sold (Public Records) $87,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $97 · +1.3% YoY. Source: county tax records.