2019 15th Ave · Columbus, GA 31901

$130,000

3 bd · 2.0 ba · 1,576 sqft · MultiFamily public records · 2 Days on market

Built 1942 4,792 sqft lot ↓ 33% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• 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

Units A and B, Upstairs and downstairs. Utilities are included in rent on this duplex. Property is one of 3 properties available that are adjacent to each other. 1440 21st St 15th Ave and 2023 15th Ave are also available with this property. A total of 7 units. $6800+ rent potential. Both of these units are occupied. These units have window unit AC and electric space heat.

Key facts

• 4,792 sq ft lot
• Listed 2 days

Property features AI

Exterior

• Home design: Residential income property (duplex)
• Construction: Frame construction
• Exterior features: Lot approximately 0.11 acres; Directions: South on Cherokee Ave, right on Garrard Street, then right on 15th Ave; property on left; Located in the Hillhouse subdivision

Interior

• Kitchen: Refrigerator; Range
• Heating & cooling: Has heating; Electric heating; Natural gas heating
• Interior features: Refrigerator; Range

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $622 ($7k/yr) — positive. Per door: $311/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 12.0% 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 (+1.2%/yr); 60 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).
• This rent runs 43% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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 + 1.2% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y ago 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 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,000

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 1942 — 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: 1.42% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.51%
• DSCR: 1.91
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.23% rent growth · sell at horizon

5-year hold

• IRR: 10.9%
• Equity multiple: 1.42×
• Total profit: $15,325
• Equity at exit: $19,383

10-year hold

• IRR: 18.5%
• Equity multiple: 2.42×
• Total profit: $51,541
• Equity at exit: $11,240

Cash invested: $36,400 (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 31901

• Rents YoY: 1.2%
• Active inventory: 60
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,846 high
• Mortgage (P&I): −$682
• Tax from tax record: −$100 /mo · $1,202/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $622

Break-even live

Break-even rent $1,058

Max offer price $130,000

Occupancy floor 61%

Sensitivity live

Price	-10% $696	-5% $659	+0% $622	+5% $585	+10% $549
Rent	-10% $476	-5% $549	+0% $622	+5% $695	+10% $768
Rate	-1.0pp $688	-0.5pp $655	base $622	+0.5pp $589	+1.0pp $554

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,846
Total (2 units)			$1,846

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1908 Garrard St Columbus, GA	4.0	2.0	1716	$1,600	$0.93	22d	1	0.32mi
1510 28th St Columbus, GA	3.0	2.0	1050	$800	$0.76	45d	1	0.47mi
2922 Howard Ave Unit 3 Columbus, GA	2.0	2.0	1100	$795	$0.72	45d	1	0.57mi
1503 11th Ave Columbus, GA	3.0	2.0	1370	$1,200	$0.88	14d	1	0.65mi
1514 Forest Ave Columbus, GA	2.0	1.5	1128	$840	$0.74	45d	1	0.78mi
2908 10th Ave Columbus, GA	3.0	2.0	2232	$2,000	$0.90	45d	1	0.85mi
1258 Cedar Ave Columbus, GA	2.0	2.0	1220	$1,400	$1.15	45d	1	0.88mi
1219 Eberhart Ave Unit 2 Columbus, GA	2.0	1.0	1100	$1,100	$1.00	14d	1	0.92mi
1192 Munro Ave Columbus, GA	3.0	2.0	1711	$1,750	$1.02	45d	1	0.94mi
707 28th St Columbus, GA	3.0	1.0	1384	$1,000	$0.72	14d	1	0.96mi
1706 Wells Dr Columbus, GA	3.0	2.0	1990	$1,850	$0.93	14d	1	1.08mi
1521 Dixon Dr Columbus, GA	2.0	2.0	1400	$1,400	$1.00	14d	1	1.11mi
1111 Henry Ave Columbus, GA	3.0	2.0	1407	$1,200	$0.85	45d	1	1.26mi
3822 Howard Ave Unit A Columbus, GA	2.0	1.0	1241	$1,150	$0.93	45d	1	1.26mi
2750 Mimosa St Columbus, GA	3.0	1.5	1357	$1,250	$0.92	14d	1	1.32mi
2801 Fern St Columbus, GA	3.0	1.0	1100	$975	$0.89	45d	1	1.33mi
2834 Mimosa St Columbus, GA	3.0	1.5	1257	$1,100	$0.88	45d	1	1.35mi
3909 Crestview Dr Columbus, GA	3.0	1.0	1110	$1,250	$1.13	14d	1	1.35mi
1401 Coffee Ct Columbus, GA	4.0	1.0	1444	$1,250	$0.87	22d	1	1.48mi

Listing history 10 events

1. 2026-05-21
   status Pending
2. 2026-05-15
   listed $130,000 Active
3. 2024-12-19
   historical $1,200
4. 2024-12-06
   price $1,200
5. 2024-11-09
   listed $1,300
6. 2024-09-17
   historical $1,300
7. 2024-09-12
   listed $1,400
8. 2023-12-06
   historical $1,395
9. 2023-11-16
   listed $1,395
10. 2022-09-19
    soldstatus $195,000

ⓘ 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: $1,202 · $100/mo
• Projected year-2 tax: $1,202 · $100/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 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: $22,152
• − Mortgage interest: −$7,282
• − Property taxes: −$1,202
• − Insurance: −$650
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$3,782
• Taxable income: $5,692
• Est. tax owed @ 24.0%: −$1,366
• After-tax cash flow: $6,101/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): 5,841
• Household income: $51,424
• Rent vs Own: 66.4% rent · 33.6% own
• Severe rent burden: 598.0

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 0.62)
• Race & ethnicity: White 53% Black 32% Two or more races 9% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Asian/Pacific 2%

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: ▼ -157.58%
• Current HPI: 122.9139
• Rent YoY: ▲ 1.23%
• 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

-33.3% since first listed

10 events — show timeline

• 2026-05-21 Pending — CBOR
• 2026-05-15 Listed $130,000 CBOR
• 2024-12-19 Rental Removed $1,200 CBOR
• 2024-12-06 Price Changed $1,200 CBOR
• 2024-11-09 Listed for Rent $1,300 CBOR
• 2024-09-17 Rental Removed $1,300 CBOR
• 2024-09-12 Listed for Rent $1,400 CBOR
• 2023-12-06 Rental Removed $1,395 CBOR
• 2023-11-16 Listed for Rent $1,395 CBOR
• 2022-09-19 Sold (Public Records) $195,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,202 · +0.0% YoY. Source: county tax records.