434 Mellon St · Columbus, GA 31903

$112,500

4 bd · 2.0 ba · 1,443 sqft · MultiFamily public records · 43 Days on market

Built 1961 9,147 sqft lot Est $105k · 7% 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
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +4.2/15.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• 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

Turnkey Duplex ready for you to start or expand your passive investment portfolio. 100% managed remotely (with an average of just couple of hours per quarter). Although interior and exterior have had major renovations, there are still plenty of value add opportunities & future revenue increases available.

Key facts

• 9,147 sq ft lot
• Built 1961
• Listed 43 days

Property features AI

Finance

• Financial info: Unit 1 rent: $690 (deposit $690) — tenant occupies; Unit 2 rent: $700 (deposit $700) — tenant occupies; Garbage included for each unit; Electric, gas, and water not included; Maintenance included for each unit

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public sewer; Cable available; Electricity available; Water available; Sewer available
• Home design: One level; Multi-family property with 2 total units
• Construction: Block construction; Shingle roof
• Exterior features: Driveway; Open parking available

Interior

• Kitchen: Range/oven in each unit; Refrigerator in each unit
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms
• Bathrooms: Unit 1: 1 bathroom; Unit 2: 1 bathroom
• Heating & cooling: Window unit(s) for cooling; Space heater for heating
• Interior features: Updated/remodeled condition
• Laundry & utility: Maintenance included for each unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $112k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive. Per door: $219/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $109k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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+, 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: Martin Luther King- Jr. Elementary School (math 8% / reading 8%, grade F, #1,125 of 1,228 statewide, top 93%, 456 students, 96% FRL); Carver High School (math 10% / reading 75%, grade F, #51 of 424 statewide, top 12%, 916 students, 97% FRL) — zoned schools average 97% FRL vs 61% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 100 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).
• At $1,449/mo this rent would consume 54% of the median local household income ($32k/yr) (locally 1878% 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 $778 of loan paydown is wiped out by about $3k 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 + 1.8% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $112k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% 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 $109,125 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.29% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.72%
• DSCR: 1.74
• GRM: 6.5

CMA / ARV

• ARV (median comp): $104,733
• List price: $112,500
• Delta: 7.42%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.82% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.25×
• Total profit: $8,006
• Equity at exit: $16,774

10-year hold

• IRR: 14.9%
• Equity multiple: 2.15×
• Total profit: $36,069
• Equity at exit: $9,727

Cash invested: $31,500 (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 31903

• Home prices YoY: -14.5%
• Rents YoY: 1.8%
• Active inventory: 100
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,449 high
• Mortgage (P&I): −$590
• Tax from tax record: −$69 /mo · $827/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $439

Break-even live

Break-even rent $893

Max offer price $112,500

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,450
Total (2 units)			$1,449

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2602 Garden Dr Columbus, GA	3.0	2.0	1250	$1,175	$0.94	20d	1	0.19mi
2823 Lee St Columbus, GA	4.0	2.0	1328	$1,500	$1.13	20d	1	0.48mi
564 Chesterfield Ave Columbus, GA	3.0	2.0	1230	$1,100	$0.89	20d	1	0.51mi
3320 N Lumpkin Rd Columbus, GA	2.0–3.0	2.0	1098	$1,099	$1.00	13d	8	0.86mi
2728 9th St Columbus, GA	3.0	1.0	880	$865	$0.98	43d	1	0.86mi
2309 Willard St Columbus, GA	3.0	2.0	1803	$1,700	$0.94	13d	1	0.90mi
3552 Irwin Way Columbus, GA	4.0	2.0	1536	$1,725	$1.12	13d	1	0.90mi
3122 Baldwin St Columbus, GA	5.0	2.0	1780	$1,500	$0.84	20d	1	0.92mi
2944 10th St Columbus, GA	3.0	1.0	1550	$925	$0.60	13d	1	1.06mi
3128 Carver St Columbus, GA	3.0	1.0	988	$1,000	$1.01	43d	1	1.07mi
3128 Carver St Columbus, GA	3.0	1.0	988	$925	$0.94	20d	1	1.07mi
3390 N Lumpkin Rd Columbus, GA	2.0–3.0	2.0	1073	$1,099	$1.02	13d	14	1.11mi
3309 10th St Columbus, GA	3.0	1.0	1080	$950	$0.88	43d	1	1.19mi
1111 Henry Ave Columbus, GA	3.0	2.0	1407	$1,200	$0.85	43d	1	1.23mi
3775 Steam Mill Rd Columbus, GA	3.0	2.0	1613	$2,100	$1.30	43d	1	1.29mi
1401 Coffee Ct Columbus, GA	4.0	1.0	1444	$1,250	$0.87	20d	1	1.35mi
3503 Ruben St Columbus, GA	4.0	1.0	1054	$1,100	$1.04	13d	1	1.42mi
822 Ragland Ct Unit B Columbus, GA	3.0	1.0	882	$875	$0.99	43d	1	1.46mi

Listing history 21 events

1. 2026-06-18
   days on market $112,500 Active 43 DOM
2. 2026-06-17
   days on market $112,500 Active 42 DOM
3. 2026-06-16
   days on market $112,500 Active 41 DOM
4. 2026-06-15
   days on market $112,500 Active 40 DOM
5. 2026-06-14
   days on market $112,500 Active 38 DOM
6. 2026-06-13
   pricedays on market $112,500 Active 37 DOM
7. 2026-06-10
   days on market $119,000 Active 35 DOM
8. 2026-06-09
   days on market $119,000 Active 34 DOM
9. 2026-06-08
   days on market $119,000 Active 33 DOM
10. 2026-06-07
    days on market $119,000 Active 32 DOM
11. 2026-06-05
    days on market $119,000 Active 29 DOM
12. 2026-06-03
    days on market $119,000 Active 28 DOM
13. 2026-06-02
    days on market $119,000 Active 27 DOM
14. 2026-06-01
    days on market $119,000 Active 26 DOM
15. 2026-05-31
    days on market $119,000 Active 25 DOM
16. 2026-05-30
    days on market $119,000 Active 24 DOM
17. 2026-05-06
    listed $119,000 Active 310-char remark
18. 2026-01-15
    historical
19. 2025-12-14
    listed $125,000 New
20. 2025-12-13
    historical
21. 2022-04-01
    soldstatus $45,000

ⓘ 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: $827 · $69/mo
• Projected year-2 tax: $1,035 · $86/mo
• Expected delta: +$208/yr (+$17/mo · 25.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,388
• − Mortgage interest: −$6,302
• − Property taxes: −$827
• − Insurance: −$562
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$3,273
• Taxable income: $3,642
• Est. tax owed @ 24.0%: −$874
• After-tax cash flow: $4,394/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): 20,644
• Household income: $32,401
• Rent vs Own: 71.9% rent · 28.1% own
• Severe rent burden: 1878.0

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: Predominantly Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 11% White 9% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1%

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: ▼ -22.30%
• Current HPI: 131.4761
• Rent YoY: ▲ 1.82%
• 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

+150.0% since first listed

6 events — show timeline

• 2026-06-13 Price Changed $112,500 FMLS
• 2026-05-06 Listed $119,000 FMLS
• 2026-01-15 Listing Removed — GAMLS
• 2025-12-14 Listed $125,000 GAMLS
• 2025-12-13 Coming Soon — GAMLS
• 2022-04-01 Sold (Public Records) $45,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $827 · -0.9% YoY. Source: county tax records.