2437 Mike Padgett Hwy · Augusta-Richmond County consolidated government (balance), GA 30906

$89,400

2 bd · 1.0 ba · 600 sqft · SingleFamily public records · 42 Days on market

Built 1957 6,534 sqft lot $149/sqft · 12% above area Est $80k · 12% over

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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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• ARV discount +2.1/15.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Recently updated 2-bedroom home featuring durable LVP flooring throughout. The kitchen offers granite countertops and new appliances, while the bathroom includes a walk-in tiled shower. Equipped with an efficient mini-split heating and air system. Property offers potential commercial use with surrounding commercial properties nearby. Conveniently located with close proximity to the Medical District and downtown. Property is being sold as is.

Key facts

• Walk-in tiled shower
• Lvp flooring
• Granite countertops

Tags

• LVP FLOORING
• GRANITE COUNTERTOPS
• WALK-IN TILED SHOWER
• POTENTIAL COMMERCIAL USE
• CLOSE PROXIMITY TO DOWNTOWN

Property features AI

Finance

• Other: Zoning: R-1C; Lot dimensions approximately 50 x 129; Road frontage on city street and state road

Exterior

• Parking: See remarks for parking details
• Utilities: Public water; Public sewer; Water service available
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Wood siding; Composition roof; No basement (crawl space)
• Exterior features: Front porch; Outbuilding; Has a view

Interior

• Kitchen: Range; Microwave
• Bedrooms: Total of 4 rooms (bedrooms and living areas combined)
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (type listed as Other); Has cooling (type listed as Other)
• Interior features: Window coverings; Range and microwave included
• Laundry & utility: Crawl space (no finished basement)

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 $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 C — 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.
• Zoned schools: Dorothy Hains Elementary School (math 2% / reading 17%, grade F, #1,092 of 1,228 statewide, top 91%, 445 students, 98% FRL); Murphey Middle School (math 0% / reading 6%, grade F, #469 of 470 statewide, top 100%, 635 students, 98% FRL); Josey High School (math 2% / reading 5%, grade F, #413 of 424 statewide, top 99%, 779 students, 98% FRL) — zoned schools average 98% FRL vs 72% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.2%/yr); 376 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $618 of loan paydown is wiped out by about $3k 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 42 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $89k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $86,718 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.26% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.74%
• DSCR: 1.61
• GRM: 6.6

CMA / ARV

• ARV (median comp): $79,748
• List price: $89,400
• Delta: 12.10%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $476
• Equity at exit: $13,330

10-year hold

• IRR: 6.9%
• Equity multiple: 1.45×
• Total profit: $11,213
• Equity at exit: $7,730

Cash invested: $25,032 (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: 376
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,124 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$95 /mo · $1,142/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $287

Break-even live

Break-even rent $761

Max offer price $89,400

Occupancy floor 70%

Sensitivity live

Price	-10% $337	-5% $312	+0% $287	+5% $261	+10% $236
Rent	-10% $198	-5% $242	+0% $287	+5% $331	+10% $375
Rate	-1.0pp $332	-0.5pp $309	base $287	+0.5pp $263	+1.0pp $240

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: $22,350
• Closing costs: $2,682
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2205 Southgate Dr Augusta, GA	1.0–2.0	1.0–1.5	770	$1,099	$1.43	16d	7	1.01mi

Listing history 33 events

1. 2026-06-23
   days on market $89,400 Active 42 DOM
2. 2026-06-21
   days on market $89,400 Active 41 DOM
3. 2026-06-18
   days on market $89,400 Active 38 DOM
4. 2026-06-17
   days on market $89,400 Active 37 DOM
5. 2026-06-16
   days on market $89,400 Active 36 DOM
6. 2026-06-15
   price $89,400 Active 35 DOM
7. 2026-06-15
   days on market $89,900 Active 35 DOM
8. 2026-06-14
   days on market $89,900 Active 33 DOM
9. 2026-06-10
   days on market $89,900 Active 30 DOM
10. 2026-06-09
    days on market $89,900 Active 29 DOM
11. 2026-06-08
    days on market $89,900 Active 28 DOM
12. 2026-06-07
    days on market $89,900 Active 27 DOM
13. 2026-06-03
    days on market $89,900 Active 23 DOM
14. 2026-06-02
    days on market $89,900 Active 22 DOM
15. 2026-06-01
    days on market $89,900 Active 21 DOM
16. 2026-05-31
    days on market $89,900 Active 20 DOM
17. 2026-05-30
    days on market $89,900 Active 19 DOM
18. 2026-05-11
    historical
19. 2026-02-03
    listed $95,000 Active
20. 2026-02-03
    listed $89,900 Active 445-char remark
21. 2026-01-29
    historical
22. 2026-01-29
    historical
23. 2025-09-19
    listed $99,900 Active
24. 2025-09-19
    listed $99,900
25. 2023-01-06
    soldstatus $45,000
26. 2022-12-30
    soldstatus $45,000
27. 2022-12-30
    soldstatus $45,000
28. 2022-11-28
    listed $49,900
29. 2022-11-28
    listed $49,900
30. 2016-01-22
    soldstatus $9,000
31. 2016-01-22
    soldstatus $9,000
32. 2015-10-23
    listed $22,400
33. 2015-10-23
    listed $22,400

ⓘ 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: $1,142 · $95/mo
• Projected year-2 tax: $1,142 · $95/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $13,485
• − Mortgage interest: −$5,008
• − Property taxes: −$1,142
• − Insurance: −$447
• − Repairs & maintenance: −$1,079
• − Management: −$1,079
• − Depreciation: −$2,601
• Taxable income: $2,130
• Est. tax owed @ 24.0%: −$511
• After-tax cash flow: $2,927/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

+299.1% since first listed

17 events — show timeline

• 2026-06-15 Price Changed $89,400 Hive MLS
• 2026-05-11 Listing Removed — Hive MLS
• 2026-02-03 Listed $95,000 Hive MLS
• 2026-02-03 Listed $89,900 Hive MLS
• 2026-01-29 Listing Removed — Hive MLS
• 2026-01-29 Listing Removed — Hive MLS
• 2025-09-19 Listed $99,900 Hive MLS
• 2025-09-19 Listed $99,900 Hive MLS
• 2023-01-06 Sold (Public Records) $45,000 Public Records
• 2022-12-30 Sold (MLS) $45,000 Hive MLS
• 2022-12-30 Sold (MLS) $45,000 Hive MLS
• 2022-11-28 Listed $49,900 Hive MLS
• 2022-11-28 Listed $49,900 Hive MLS
• 2016-01-22 Sold (MLS) $9,000 Hive MLS
• 2016-01-22 Sold (MLS) $9,000 Hive MLS
• 2015-10-23 Listed $22,400 Hive MLS
• 2015-10-23 Listed $22,400 Hive MLS

Property tax history

+3.0%/yr

Latest (2025): $1,142 · +18.5% YoY. Source: county tax records.