4032 Pickering Dr · Columbus, GA 31907

$220,000

3 bd · 2.0 ba · 2,350 sqft · SingleFamily public records · 137 Days on market

Built 1982 0.34 ac lot Est $275k · 20% under ↓ 21% since listing

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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 +15.7/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This centrally located home close to Columbus State University and Manchester Expressway. Situated on a level lot in the Castlewood subdivision, this home needs some TLC but features an in-ground pool, a large fenced-in backyard and plenty of space to relax, work and entertain! With a large backyard featuring a creek, this 3 bedroom 2 bathroom home has a flex space great for an office or playroom and a brick patio space with brick grill by the sun porch and pool. The great room boast high cathedral ceilings and masonry fireplace. Painted outside Nov 2025

Key facts

• In-ground pool
• Brick patio
• Flex space

Tags

• IN-GROUND POOL
• FENCED-IN BACKYARD
• FLEX SPACE
• BRICK PATIO
• MASONRY FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (18.8% below list).
• Recommended offer: $179k (18.8% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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+, crime F, commute 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.
• Zoned schools: Reese Road Leadership Academy (math 12% / reading 17%, grade F, #996 of 1,228 statewide, top 83%, 387 students, 97% FRL); Fort Middle School (math 11% / reading 22%, grade F, #388 of 470 statewide, top 83%, 511 students, 97% FRL); Hardaway High School (math 8% / reading 2%, grade F, #394 of 424 statewide, top 97%, 1,184 students, 97% FRL) — zoned schools average 97% FRL vs 61% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 12% at this address vs 26% district-wide (-14 pts) — the specific schools serving this property underperform the Muscogee County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.8%/yr); 274 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 39% of the median local income ($54k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,572 (18.8% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.81% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.90%
• DSCR: 1.08
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $274,950
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4032 Pickering Dr	0.00mi	3/2.0	2,350 (0%)	1mo	$175,000	$74	99
4400 Abingdon Ct	0.14mi	4/2.5 (+1)	2,264 (-4%)	8mo	$301,200	$133	74
10 Conisburgh Ct	0.25mi	4/3.0 (+1)	2,308 (-2%)	5mo	$329,000	$143	72
4738 Shenandoah Dr	0.56mi	3/2.0	2,356 (+0%)	3mo	$275,000	$117	71
4285 Deanery Ct	0.33mi	3/2.0	2,047 (-13%)	1mo	$324,000	$158	63
4322 Aster Ave	0.27mi	3/2.5	2,035 (-13%)	2mo	$185,000	$91	61
4407 Florence Dr	0.67mi	4/2.5 (+1)	2,339 (-0%)	4mo	$270,000	$115	58
4409 Smokey Mountain Trl	0.64mi	4/2.0 (+1)	2,442 (+4%)	2mo	$249,900	$102	57
4524 Hedingham Ln	0.31mi	4/2.5 (+1)	2,656 (+13%)	4mo	$334,000	$126	54
4811 Allegheny Dr	0.60mi	3/2.0	2,612 (+11%)	10mo	$280,000	$107	45
3077 Reese Rd	0.61mi	4/2.5 (+1)	2,112 (-10%)	8mo	$330,000	$156	41
2951 Florence Dr	0.68mi	4/3.0 (+1)	2,599 (+11%)	2mo	$287,000	$110	40

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 · 4.82% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.57×
• Total profit: $-26,216
• Equity at exit: $32,803

10-year hold

• IRR: -0.2%
• Equity multiple: 0.98×
• Total profit: $-1,067
• Equity at exit: $19,022

Cash invested: $61,600 (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 31907

• Rents YoY: 4.8%
• Active inventory: 274
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,786 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$68 /mo · $815/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $97

Break-even live

Break-even rent $1,662

Max offer price $220,000

Occupancy floor 90%

Sensitivity live

Price	-10% $222	-5% $160	+0% $97	+5% $35	+10% $-27
Rent	-10% $-44	-5% $27	+0% $97	+5% $168	+10% $238
Rate	-1.0pp $208	-0.5pp $153	base $97	+0.5pp $40	+1.0pp $-18

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4100 King Arthur Pl Columbus, GA	3.0	2.0	1701	$1,650	$0.97	15d	1	0.32mi
4221 Bonnie Dr Columbus, GA	3.0	2.0	1700	$1,750	$1.03	22d	1	0.44mi
3853 Rockdale Dr Columbus, GA	4.0	2.0	1648	$1,650	$1.00	45d	1	0.45mi
5077 Pond View Dr Columbus, GA	4.0	2.5	2726	$2,800	$1.03	45d	1	0.84mi
3110 College Ave Columbus, GA	4.0	1.5	1604	$1,875	$1.17	22d	1	1.09mi
3520 Algonquin Dr Columbus, GA	4.0	3.0	2829	$2,350	$0.83	15d	1	1.13mi
4478 Lapaloma Dr Columbus, GA	3.0	2.5	1787	$1,550	$0.87	22d	1	1.17mi
6009 N Pointe Dr Columbus, GA	4.0	2.0	1733	$1,650	$0.95	45d	1	1.24mi
5577 Terrace Pointe Ct Columbus, GA	3.0	2.0	1667	$1,850	$1.11	22d	1	1.30mi
2525 Norris Rd #37 Columbus, GA	3.0	2.5	2094	$1,750	$0.84	45d	1	1.38mi

Listing history 4 events

1. 2026-04-26
   status Pending
2. 2026-04-14
   price $220,000
3. 2026-01-26
   price $240,000
4. 2025-12-10
   listed $280,000 Active

ⓘ 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: $815 · $68/mo
• Projected year-2 tax: $2,024 · $169/mo
• Expected delta: +$1,209/yr (+$101/mo · 148.3%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,429
• − Mortgage interest: −$12,323
• − Property taxes: −$815
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,714
• − Management: −$1,714
• − Depreciation: −$6,400
• Taxable loss: −$2,639
• Est. tax savings @ 24.0%: +$633
• After-tax cash flow: $1,802/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): 59,110
• Household income: $54,453
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 2138.0

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: Majority Black (64%)
• Race & ethnicity: Black 64% White 22% Two or more races 8% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Italian 1% Slovak 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -125.88%
• Current HPI: 151.74
• Rent YoY: ▲ 4.82%
• 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

-21.4% since first listed

4 events — show timeline

• 2026-04-26 Pending — CBOR
• 2026-04-14 Price Changed $220,000 CBOR
• 2026-01-26 Price Changed $240,000 CBOR
• 2025-12-10 Listed $280,000 CBOR

Property tax history

-0.5%/yr

Latest (2025): $815 · +0.2% YoY. Source: county tax records.