132 Culver St · Macon-Bibb County, GA 31204

$250,000

10 bd · 4.0 ba · 5,210 sqft · MultiFamily public records · 92 Days on market

Built 1980 0.25 ac lot Est $170k · 47% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

INVESTORS...Come view this spacious income producing 4 Unit Quad with over 5000 sq ft and add your final touches. Located in the heart of Macon, these 2 bedroom 1 bath units are located 5 minutes from the freeway near Downtown, Macon Ampitheater, Mercer University, shopping and other amenities. The property is surrounded by well kept and established homes sure to bring a savvy buyer maximum cash flow, returns and long term equity. This portfolio addition presents the opportunity to generate lots of extra income with room for growth potential. Don't miss out on this gem!

Key facts

• Near shopping
• Near downtown
• Income producing

Tags

• INCOME PRODUCING
• HEART OF MACON
• NEAR DOWNTOWN
• NEAR SHOPPING
• ROOM FOR GROWTH POTENTIAL

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $593/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $250k).
• Recommended offer: $228k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.7% vs local median 5.5% in Macon-Bibb County — 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.
• Bibb County (urban): math 11% / reading 18% proficiency, ranked #161 of 174 in GA (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.6%/yr); 258 active listings in the ZIP; lower-income renter base — watch delinquency; 154 units permitted in Bibb County in 2024 (0 in 5+ unit buildings).
• At $5,002/mo this rent would consume 155% of the median local household income ($39k/yr) (locally 2674% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Bibb County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $250k implies a 245% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% 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 $227,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.00% ✓
• Cap rate: 17.68%
• Cash-on-cash: 40.68%
• DSCR: 2.81
• GRM: 4.2

CMA / ARV

• ARV (median comp): $169,965
• List price: $250,000
• Delta: 47.09%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.61% rent growth · sell at horizon

5-year hold

• IRR: 38.9%
• Equity multiple: 2.70×
• Total profit: $118,830
• Equity at exit: $37,276

10-year hold

• IRR: 46.1%
• Equity multiple: 5.76×
• Total profit: $332,917
• Equity at exit: $21,615

Cash invested: $70,000 (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 31204

• Rents YoY: 4.6%
• Active inventory: 258
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $5,002 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$164 /mo · $1,963/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,050
• Net cashflow: $2,373

Break-even live

Break-even rent $1,998

Max offer price $250,000

Occupancy floor 48%

Sensitivity live

Price	-10% $2,514	-5% $2,444	+0% $2,373	+5% $2,302	+10% $2,231
Rent	-10% $1,978	-5% $2,175	+0% $2,373	+5% $2,570	+10% $2,768
Rate	-1.0pp $2,499	-0.5pp $2,436	base $2,373	+0.5pp $2,308	+1.0pp $2,242

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,004
Total (4 units)			$5,002

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $250,000 Active 92 DOM
2. 2026-06-18
   days on market $250,000 Active 91 DOM
3. 2026-06-17
   days on market $250,000 Active 90 DOM
4. 2026-06-16
   days on market $250,000 Active 89 DOM
5. 2026-06-15
   days on market $250,000 Active 88 DOM
6. 2026-06-14
   days on market $250,000 Active 86 DOM
7. 2026-06-13
   days on market $250,000 Active 85 DOM
8. 2026-06-10
   days on market $250,000 Active 83 DOM
9. 2026-06-09
   days on market $250,000 Active 82 DOM
10. 2026-06-09
    days on market $250,000 Active 81 DOM
11. 2026-06-07
    days on market $250,000 Active 80 DOM
12. 2026-06-03
    days on market $250,000 Active 76 DOM
13. 2026-06-02
    days on market $250,000 Active 75 DOM
14. 2026-06-01
    days on market $250,000 Active 74 DOM
15. 2026-05-31
    days on market $250,000 Active 73 DOM
16. 2026-05-30
    days on market $250,000 Active 72 DOM
17. 2026-04-21
    price $250,000 577-char remark

    Show marketing remark (577 chars)

    INVESTORS...Come view this spacious income producing 4 Unit Quad with over 5000 sq ft and add your final touches. Located in the heart of Macon, these 2 bedroom 1 bath units are located 5 minutes from the freeway near Downtown, Macon Ampitheater, Mercer University, shopping and other amenities. The property is surrounded by well kept and established homes sure to bring a savvy buyer maximum cash flow, returns and long term equity. This portfolio addition presents the opportunity to generate lots of extra income with room for growth potential. Don't miss out on this gem!

18. 2026-04-21
    price $250,000 577-char remark

    Show marketing remark (577 chars)

    INVESTORS...Come view this spacious income producing 4 Unit Quad with over 5000 sq ft and add your final touches. Located in the heart of Macon, these 2 bedroom 1 bath units are located 5 minutes from the freeway near Downtown, Macon Ampitheater, Mercer University, shopping and other amenities. The property is surrounded by well kept and established homes sure to bring a savvy buyer maximum cash flow, returns and long term equity. This portfolio addition presents the opportunity to generate lots of extra income with room for growth potential. Don't miss out on this gem!

19. 2026-03-19
    listed $285,000 New 577-char remark

    Show marketing remark (577 chars)

    INVESTORS...Come view this spacious income producing 4 Unit Quad with over 5000 sq ft and add your final touches. Located in the heart of Macon, these 2 bedroom 1 bath units are located 5 minutes from the freeway near Downtown, Macon Ampitheater, Mercer University, shopping and other amenities. The property is surrounded by well kept and established homes sure to bring a savvy buyer maximum cash flow, returns and long term equity. This portfolio addition presents the opportunity to generate lots of extra income with room for growth potential. Don't miss out on this gem!

20. 2026-03-19
    listed $285,000 Active 577-char remark

    Show marketing remark (577 chars)

    INVESTORS...Come view this spacious income producing 4 Unit Quad with over 5000 sq ft and add your final touches. Located in the heart of Macon, these 2 bedroom 1 bath units are located 5 minutes from the freeway near Downtown, Macon Ampitheater, Mercer University, shopping and other amenities. The property is surrounded by well kept and established homes sure to bring a savvy buyer maximum cash flow, returns and long term equity. This portfolio addition presents the opportunity to generate lots of extra income with room for growth potential. Don't miss out on this gem!

21. 2015-05-27
    soldstatus $72,500

ⓘ 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: $1,963 · $164/mo
• Projected year-2 tax: $2,300 · $192/mo
• Expected delta: +$337/yr (+$28/mo · 17.2%)

ⓘ 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 7/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,024
• − Mortgage interest: −$14,004
• − Property taxes: −$1,963
• − Insurance: −$1,250
• − Repairs & maintenance: −$4,802
• − Management: −$4,802
• − Depreciation: −$7,273
• Taxable income: $25,930
• Est. tax owed @ 24.0%: −$6,223
• After-tax cash flow: $22,250/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: Bibb County
• NCES district ID: 1300420
• Math proficiency: 11% ▼ -14.00%
• Reading proficiency: 18% ▼ -11.00%
• Median HH income: $37,426
• Composite: 12.13/100
• National rank: #9654
• State rank: #161 of 174 in GA

Livability — Macon-Bibb County

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

Census & demographics

• Census place: Macon-Bibb County, GA
• County: Bibb County · 164,332 people
• City population: 143,186
• Metro: Macon-Bibb County, GA
• Population (ZIP): 32,421
• Household income: $38,784
• Rent vs Own: 57.5% rent · 42.5% own
• Severe rent burden: 2674.0

Population outlook (Bibb County) Hauer SSP2

• Today (2025): 148,772 people
• By 2030: 145,904 · -1.9%
• By 2040: 139,404 · -6.3%
• By 2050: 131,603 · -11.5%
• By 2075: 111,050 · -25.4%
• By 2100: 83,346 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (65%)
• Race & ethnicity: Black 65% White 28% Hispanic / Latino 3% Two or more races 2% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Bibb

• 2024 margin: Strong D (+22.4) · D 61.0% · R 38.5%
• 2008→2024 swing: +4.4pp toward D · 2008: 18.0pp · 2024: 22.4pp
• All cycles: 2024: D+22.4 2020: D+23.8 2016: D+20.2 2012: D+20.0 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.44%
• Current HPI: 194.5459
• Rent YoY: ▲ 4.61%
• Metro: Macon-Bibb County, GA
• 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

+244.8% since first listed

5 events — show timeline

• 2026-04-21 Price Changed $250,000 FMLS
• 2026-04-21 Price Changed $250,000 GAMLS
• 2026-03-19 Listed $285,000 FMLS
• 2026-03-19 Listed $285,000 GAMLS
• 2015-05-27 Sold (Public Records) $72,500 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,963 · +1.3% YoY. Source: county tax records.