223 Academy St · Americus, GA 31709

$55,000

2 bd · 2.0 ba · 808 sqft · MultiFamily public records · 15 Days on market

Built 1930 3,484 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• 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

Investor special! Duplex fixer-upper with strong income potential. Each side offers 3 bedrooms and 1 bath, both vacant. Existing ductwork already in place for central HVAC systems, current units are non-operational. The property will require improvements and updates, making this a great opportunity for an investor looking to add value. With projected rental income of approximately $775-$850 per side, this property has the potential to become a strong cash-flowing asset. This property is priced right and is an affordable opportunity for investors, flippers, or landlords looking to expand their portfolio. Sold AS-IS. Schedule your tour TODAY!

Key facts

• Central hvac systems
• Duplex fixer-upper
• Existing ductwork

Tags

• DUPLEX FIXER-UPPER
• STRONG INCOME POTENTIAL
• EXISTING DUCTWORK
• CENTRAL HVAC SYSTEMS
• PROJECTED RENTAL INCOME
• STRONG CASH-FLOWING ASSET

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer; Individual electricity meters; Individual water meters
• Home design: Duplex (residential income/multi-family); Built in 1930; Fixer condition
• Construction: Other construction materials
• Exterior features: Built on a 0.08-acre lot; Lot size per public records

Interior

• Heating & cooling: No heating; No cooling
• Interior features: One level; Crawl space foundation; No fireplaces; Two-unit building (duplex)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $55k.

Deal economics

• At list price, monthly cash flow is $989 ($12k/yr) — positive. Per door: $495/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.9% vs local median 4.8% in Americus — 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 50/100 on livability (#582 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Sumter County (rural): math 7% / reading 11% proficiency, ranked #170 of 174 in GA (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 28 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 39 units permitted in Sumter County in 2024 (15 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Sumter County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 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

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $54,175 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 3.06% ✓
• Cap rate: 27.88%
• Cash-on-cash: 77.08%
• DSCR: 4.43
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 77.1%
• Equity multiple: 4.51×
• Total profit: $54,092
• Equity at exit: $8,201

10-year hold

• IRR: 80.7%
• Equity multiple: 9.33×
• Total profit: $128,235
• Equity at exit: $4,755

Cash invested: $15,400 (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 31709

• Home prices YoY: -26.8%
• Active inventory: 28
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,685 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$31 /mo · $367/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $989

Break-even live

Break-even rent $433

Max offer price $55,000

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$1,684
Total (2 units)			$1,685

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
606 Lowe St Unit B Americus, GA	2.0	1.0	720	$600	$0.83	43d	1	0.23mi
202 Windsor Ave Unit A Americus, GA	1.0	1.0	800	$1,200	$1.50	13d	1	0.33mi
227 Wanda Way Americus, GA	1.0–2.0	1.0	585	$1,325	$2.26	13d	5	1.10mi

Listing history 12 events

1. 2026-06-18
   days on market $55,000 Active 15 DOM
2. 2026-06-17
   days on market $55,000 Active 14 DOM
3. 2026-06-16
   days on market $55,000 Active 13 DOM
4. 2026-06-15
   days on market $55,000 Active 12 DOM
5. 2026-06-13
   days on market $55,000 Active 10 DOM
6. 2026-06-12
   days on market $55,000 Active 9 DOM
7. 2026-06-09
   days on market $55,000 Active 6 DOM
8. 2026-06-08
   statusdays on market $55,000 Active 5 DOM
9. 2026-06-07
   days on market $55,000 Back On Market 4 DOM
10. 2026-06-07
    statusdays on market $55,000 Back On Market 3 DOM
11. 2026-05-25
    listed $55,000 Active 648-char remark

    Show marketing remark (648 chars)

    Investor special! Duplex fixer-upper with strong income potential. Each side offers 3 bedrooms and 1 bath, both vacant. Existing ductwork already in place for central HVAC systems, current units are non-operational. The property will require improvements and updates, making this a great opportunity for an investor looking to add value. With projected rental income of approximately $775-$850 per side, this property has the potential to become a strong cash-flowing asset. This property is priced right and is an affordable opportunity for investors, flippers, or landlords looking to expand their portfolio. Sold AS-IS. Schedule your tour TODAY!

12. 2026-04-30
    listed $55,000 New

ⓘ 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: $367 · $31/mo
• Projected year-2 tax: $506 · $42/mo
• Expected delta: +$139/yr (+$12/mo · 37.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,220
• − Mortgage interest: −$3,081
• − Property taxes: −$367
• − Insurance: −$275
• − Repairs & maintenance: −$1,618
• − Management: −$1,618
• − Depreciation: −$1,600
• Taxable income: $11,662
• Est. tax owed @ 24.0%: −$2,799
• After-tax cash flow: $9,071/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: Sumter County
• NCES district ID: 1304620
• Math proficiency: 7% ▼ -15.00%
• Reading proficiency: 11% ▼ -11.00%
• Median HH income: $33,494
• Composite: 7.21/100
• National rank: #9961
• State rank: #170 of 174 in GA

Livability — Americus

• Score: 50/100
• State rank: #582
• US rank: #25593

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Americus, GA
• Population (ZIP): 14,966

Population outlook (Sumter County) Hauer SSP2

• Today (2025): 26,953 people
• By 2030: 24,861 · -7.8%
• By 2040: 20,500 · -23.9%
• By 2050: 16,694 · -38.1%
• By 2075: 9,901 · -63.3%
• By 2100: 5,570 · -79.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 49% White 40% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Iranian 2% Slovak 2% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Sumter

• 2024 margin: Toss-up / Even · D 50.9% · R 48.7%
• 2008→2024 swing: -3.8pp toward R · 2008: 6.0pp · 2024: 2.2pp
• All cycles: 2024: D+2.2 2020: D+4.8 2016: D+2.2 2012: D+8.4 2008: D+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.58%
• Current HPI: 154.3605
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-25 Listed $55,000 CABOR
• 2026-04-30 Listed $55,000 GAMLS

Property tax history

+4.7%/yr

Latest (2025): $367 · +42.4% YoY. Source: county tax records.