3211 Lee St · Columbus, GA 31903

$99,000

None bd · None ba · 2,862 sqft · MultiFamily public records · 6 Days on market

Built 1964 10,019 sqft lot Est $183k · 46% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 4 units. confirmed

Listing remarks MLS

ZONED COMMERCIAL. .HERE IS THE PERFECT RENTAL PROPERTY YOU'VE BEEN LOOKING FOR. THIS BRICK QUADRAPLEX HAS 4 UNITS EACH UNIT IS 2 BEDROOM 1 BATHROOM. SOLD AS IS. SEPARATE WATER METERS. TENANTS PAY THEIR OWN UTILITIES. ELECTRIC WATER HEATERS

Key facts

• 0.23 acre lot
• Listed 6 days

Property features AI

Finance

• Other: Listing broker: Keller Williams Realty River Cities; Listing agent: Zach Jones (706-987-3379)

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property; Quadruplex
• Construction: Brick construction
• Exterior features: Located on a 0.23-acre lot; Subdivision: GEORGIAN WAY; Directions: From I-185, take Exit 4 onto Buena Vista Rd then turn West. Next turn Left onto Brennan Rd. Then turn right onto Cusseta Rd. Then turn left on Clover Ave and property will be on right.

Interior

• Interior features: Brick construction (interior walls/details reflect brick material where applicable)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $517/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $99k).
• Cap rate 31.3% 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 (+1.8%/yr); 100 active listings in the ZIP; lower-income renter base — watch delinquency; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).
• At $3,433/mo this rent would consume 127% 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 $684 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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.
• Current owner paid $43k; list at $99k implies a 130% gain — meaningful room to come down on a strong offer.

Recommended offer $99,000

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 1964 — 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: 3.47% ✓
• Cap rate: 31.34%
• Cash-on-cash: 89.45%
• DSCR: 4.98
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $183,168
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
824 Winston Rd	0.41mi	—/—	3,264 (+14%)	2mo	$210,000	$64	56

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: 88.8%
• Equity multiple: 5.02×
• Total profit: $111,562
• Equity at exit: $14,761

10-year hold

• IRR: 91.5%
• Equity multiple: 10.04×
• Total profit: $250,579
• Equity at exit: $8,560

Cash invested: $27,720 (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: 9.6×

Monthly cashflow live

• Estimated rent: $3,433 high
• Mortgage (P&I): −$519
• Tax from tax record: −$85 /mo · $1,024/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$721
• Net cashflow: $2,066

Break-even live

Break-even rent $817

Max offer price $99,000

Occupancy floor 35%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,432
Total (4 units)			$3,433

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $99,000 Active 6 DOM
2. 2026-06-17
   days on market $99,000 Active 5 DOM
3. 2026-06-16
   days on market $99,000 Active 4 DOM
4. 2026-06-15
   days on market $99,000 Active 3 DOM
5. 2026-06-13
   remarks 355-char remark
6. 2026-06-13
   listed $99,000 Active 1 DOM

ⓘ 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: $1,024 · $85/mo
• Projected year-2 tax: $1,024 · $85/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $41,196
• − Mortgage interest: −$5,546
• − Property taxes: −$1,024
• − Insurance: −$495
• − Repairs & maintenance: −$3,296
• − Management: −$3,296
• − Depreciation: −$2,880
• Taxable income: $24,660
• Est. tax owed @ 24.0%: −$5,918
• After-tax cash flow: $18,877/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

+80.3% since first listed

3 events — show timeline

• 2026-06-11 Listed $99,000 CBOR
• 2020-04-08 Sold (MLS) $43,000 CBOR
• 2020-03-21 Listed $54,900 CBOR

Property tax history

+3.1%/yr

Latest (2025): $1,024 · +0.0% YoY. Source: county tax records.