228 Greene St · Augusta-Richmond County consolidated government (balance), GA 30901

$135,000

2 bd · 1.5 ba · 975 sqft · SingleFamily public records · 38 Days on market

Built 1929 8,276 sqft lot $138/sqft · at area comps Est $184k · 27% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +9.2/30.0
• Appreciation +9.1/10.0
• 1% rule +2.7/10.0
• DSCR +2.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.3/10.0

Listing remarks

Just in time to enjoy the newly updated streetscape on Greene Street, this Olde Town home is now available at 228 Greene. The home offers 3 bedrooms and 2 full bathrooms, along with a laundry room, dining room, and kitchen. The approximate square footage is 1,350 square feet, which differs from tax records. The property is set back off the street with parking in the front and sits on a wooded lot with a fenced backyard. Previously used as an investment property and rental, the home has had work done over time, though the quality is mixed. It's not perfect and could use TLC to make it your own, but it is clean, functional, and ready for its next owner. New hot water heater installed in 2025.

Key facts

• Wooded lot
• Fenced backyard
• 8,276 sq ft lot

Tags

• NEWLY UPDATED STREETSCAPE
• WOODED LOT
• FENCED BACKYARD
• GREAT DOWNTOWN LOCATION

Property features AI

Exterior

• Parking: Shared driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Residential property in the Old Towne subdivision
• Construction: Wood siding; Metal and composition roof; Slab foundation; Built as a single-family home
• Exterior features: Porch; Fenced yard; Wooded lot; Street lights in the neighborhood

Interior

• Flooring: Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Has heating
• Interior features: Fireplace(s); Ceramic tile and hardwood flooring; Total of 5 rooms; No basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (23.4% below list).
• Recommended offer: $103k (23.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Richmond County (urban): math 12% / reading 20% proficiency, ranked #154 of 174 in GA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lamar - Milledge Elementary School (math 12% / reading 12%, grade F, #1,041 of 1,228 statewide, top 87%, 301 students, 98% FRL); Langford Middle School (math 2% / reading 14%, grade F, #445 of 470 statewide, top 95%, 731 students, 98% FRL) — zoned schools average 98% FRL vs 72% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.3%/yr); 129 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 561 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).
• At $1,034/mo this rent would consume 49% of the median local household income ($25k/yr) (locally 2063% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $12k of equity ($933 loan paydown + $11k appreciation (8.2% local appreciation)).
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $135k implies a 440% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 67% 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 $103,410 (23.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1929 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.77% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.25%
• DSCR: 0.86
• GRM: 10.9

CMA / ARV

• ARV (median comp): $183,709
• List price: $135,000
• Delta: -26.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 Telfair St	0.15mi	2/1.0	968 (-1%)	13mo	$45,000	$46	79
257 Watkins St	0.18mi	3/1.0 (+1)	973 (-0%)	11mo	$69,900	$72	75
109 E E Walker St	0.40mi	3/1.5 (+1)	1,100 (+13%)	1mo	$50,000	$45	54
109 Sibley St	0.33mi	2/2.0	1,062 (+9%)	22mo	$165,000	$155	50
821 1st St	0.61mi	2/1.0	909 (-7%)	17mo	$75,500	$83	44
608 Albany Ave	0.69mi	3/1.5 (+1)	900 (-8%)	9mo	$120,000	$133	43
395 Azalea Ave	0.64mi	3/1.0 (+1)	1,040 (+7%)	15mo	$40,000	$38	40
121 E Hall St	0.69mi	3/1.0 (+1)	864 (-11%)	20mo	$64,000	$74	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.18% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 17.0%
• Equity multiple: 2.26×
• Total profit: $47,632
• Equity at exit: $104,223

10-year hold

• IRR: 15.6%
• Equity multiple: 4.64×
• Total profit: $137,572
• Equity at exit: $208,486

Cash invested: $37,800 (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 30901

• Home prices YoY: 4.1%
• Rents YoY: -1.3%
• Active inventory: 129
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,034 high
• Mortgage (P&I): −$708
• Tax from tax record: −$155 /mo · $1,861/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $-102

Break-even live

Break-even rent $1,164

Max offer price $116,923

Occupancy floor —

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
239 Greene St Augusta, GA	1.0	1.0	700	$825	$1.18	43d	1	0.10mi
239 Greene St Unit A-3 Augusta, GA	1.0	1.0	700	$800	$1.14	23d	1	0.10mi
320 3rd St Augusta, GA	2.0	1.0	1117	$1,200	$1.07	43d	1	0.12mi
240 Ellis St Unit B Augusta, GA	1.0	1.0	800	$925	$1.16	23d	1	0.14mi
240 Ellis St Unit A Augusta, GA	1.0	1.0	600	$885	$1.48	23d	1	0.14mi
204 Ellis St Augusta, GA	2.0	1.0	1029	$1,350	$1.31	13d	1	0.14mi
305 Walker St Unit A Augusta, GA	2.0	1.0	925	$925	$1.00	43d	1	0.14mi
305 Walker St Unit A Augusta, GA	2.0	1.0	925	$925	$1.00	23d	1	0.14mi
134 Broad St Augusta, GA	2.0	1.0	1100	$1,150	$1.05	43d	1	0.21mi
410 4th St Unit A Augusta, GA	2.0	1.5	925	$985	$1.06	23d	1	0.21mi
106 Ellis St Augusta, GA	1.0	1.0	850	$975	$1.15	43d	1	0.22mi
112 3rd St Apt F Augusta, GA	2.0	1.0	754	$990	$1.31	13d	1	0.24mi
401 Greene St Unit 204 Augusta, GA	1.0	1.0	633	$1,250	$1.97	43d	1	0.25mi
110 3rd St Unit A Augusta, GA	1.0	1.0	906	$760	$0.84	23d	1	0.25mi
110 3rd St Unit A Augusta, GA	1.0	1.0	906	$760	$0.84	43d	1	0.25mi
133 Broad St Unit A Augusta, GA	2.0	2.0	1000	$975	$0.97	43d	1	0.25mi
133 Broad St Unit A Augusta, GA	2.0	2.0	1000	$975	$0.97	23d	1	0.25mi
133 Broad St Unit B Augusta, GA	1.0	1.0	1000	$800	$0.80	43d	1	0.25mi
108 3rd St Unit A Augusta, GA	2.0	1.0	754	$900	$1.19	23d	1	0.26mi
108 3rd St Unit A Augusta, GA	2.0	1.0	754	$900	$1.19	43d	1	0.26mi
420 E Boundary Augusta, GA	2.0	1.0	950	$850	$0.89	43d	1	0.39mi
537 Watkins St Unit B Augusta, GA	1.0	1.0	725	$705	$0.97	43d	1	0.51mi
821 Forsythe St Augusta, GA	2.0	1.0	754	$895	$1.19	13d	1	0.55mi
212 7th St Unit 301 Augusta, GA	1.0	1.0	830	$1,095	$1.32	23d	1	0.68mi
714 Broad St Augusta, GA	1.0	1.0	1000	$895	$0.90	13d	1	0.73mi
828 Broad St Unit B Augusta, GA	2.0	1.0	750	$995	$1.33	43d	1	0.86mi
828 Broad St Augusta, GA	2.0	1.0	750	$995	$1.33	23d	1	0.86mi
513 James Brown Blvd Augusta, GA	1.0	1.0	718	$1,375	$1.91	13d	2	0.95mi
913 Walker St Augusta, GA	2.0	2.0	1000	$1,200	$1.20	13d	1	0.96mi
709 Hall St Augusta, GA	2.0	1.0	600	$990	$1.65	43d	1	0.97mi
936 Broad St #415 Augusta, GA	1.0	1.0	701	$1,750	$2.50	43d	1	1.01mi
936 Broad St #208 Augusta, GA	1.0	1.0	881	$1,250	$1.42	23d	1	1.01mi
1022 Broad St Apt A Augusta, GA	1.0	1.0	665	$1,075	$1.62	43d	1	1.12mi
1030 Broad St Augusta, GA	2.0	1.0	880	$1,225	$1.39	43d	1	1.13mi
1030 Broad St Unit D Augusta, GA	2.0	1.0	880	$1,015	$1.15	43d	1	1.13mi
1030 Broad St Unit C Augusta, GA	2.0	1.0	900	$1,225	$1.36	23d	1	1.13mi
1030 Broad St Unit D Augusta, GA	2.0	1.0	880	$1,015	$1.15	23d	1	1.13mi
953 Hopkins St Augusta, GA	3.0	1.0	806	$1,100	$1.36	43d	1	1.23mi
1204 Broad St Unit 1 Augusta, GA	1.0	1.0	750	$1,100	$1.47	23d	1	1.28mi
1204 Broad St Unit 6 Augusta, GA	1.0	1.0	900	$1,200	$1.33	43d	1	1.28mi

Listing history 23 events

1. 2026-06-18
   days on market $135,000 Active 38 DOM
2. 2026-06-17
   days on market $135,000 Active 37 DOM
3. 2026-06-16
   days on market $135,000 Active 36 DOM
4. 2026-06-15
   days on market $135,000 Active 35 DOM
5. 2026-06-14
   days on market $135,000 Active 33 DOM
6. 2026-06-10
   days on market $135,000 Active 30 DOM
7. 2026-06-09
   days on market $135,000 Active 29 DOM
8. 2026-06-08
   days on market $135,000 Active 28 DOM
9. 2026-06-07
   pricedays on market $135,000 Active 27 DOM
10. 2026-06-03
    days on market $140,000 Active 23 DOM
11. 2026-06-02
    days on market $140,000 Active 22 DOM
12. 2026-06-01
    days on market $140,000 Active 21 DOM
13. 2026-05-31
    days on market $140,000 Active 20 DOM
14. 2026-05-30
    days on market $140,000 Active 19 DOM
15. 2026-05-11
    historical
16. 2026-05-11
    historical
17. 2026-04-23
    price $148,000
18. 2026-01-26
    listed $155,000 Active
19. 2026-01-26
    listed $140,000 Active
20. 2025-12-31
    historical
21. 2025-11-24
    listed $175,000
22. 2025-11-24
    listed $175,000 Active
23. 2005-05-06
    soldstatus $25,000

ⓘ 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: $1,861 · $155/mo
• Projected year-2 tax: $1,861 · $155/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,409
• − Mortgage interest: −$7,562
• − Property taxes: −$1,861
• − Insurance: −$675
• − Repairs & maintenance: −$993
• − Management: −$993
• − Depreciation: −$3,927
• Taxable loss: −$3,601
• Est. tax savings @ 24.0%: +$864
• After-tax cash flow: $-364/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: Richmond County
• NCES district ID: 1304380
• Math proficiency: 12% ▼ -9.00%
• Reading proficiency: 20% ▼ -6.00%
• Median HH income: $38,069
• Composite: 13.43/100
• National rank: #9524
• State rank: #154 of 174 in GA

Livability — Augusta-Richmond County consolidated government (balance)

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

Census & demographics

• Census place: Augusta-Richmond County consolidated government (balance), GA
• County: Richmond County · 190,917 people
• City population: 154,035
• Metro: Augusta-Richmond County, GA-SC
• Population (ZIP): 16,484
• Household income: $25,163
• Rent vs Own: 76.1% rent · 23.9% own
• Severe rent burden: 2063.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 200,753 people
• By 2030: 200,232 · -0.3%
• By 2040: 196,813 · -2.0%
• By 2050: 190,347 · -5.2%
• By 2075: 172,496 · -14.1%
• By 2100: 146,284 · -27.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (78%)
• Race & ethnicity: Black 78% White 15% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+36.1) · D 67.8% · R 31.7%
• 2008→2024 swing: +4.3pp toward D · 2008: 31.8pp · 2024: 36.1pp
• All cycles: 2024: D+36.1 2020: D+37.2 2016: D+32.4 2012: D+33.8 2008: D+31.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.18%
• Current HPI: 206.3145
• Rent YoY: ▼ -1.31%
• Metro: Augusta-Richmond County, GA-SC
• 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

+440.0% since first listed

10 events — show timeline

• 2026-06-04 Price Changed $135,000 Hive MLS
• 2026-05-11 Listing Removed — Hive MLS
• 2026-05-11 Listing Removed — Hive MLS
• 2026-04-23 Price Changed $148,000 Hive MLS
• 2026-01-26 Listed $155,000 Hive MLS
• 2026-01-26 Listed $140,000 Hive MLS
• 2025-12-31 Listing Removed — Hive MLS
• 2025-11-24 Listed $175,000 Hive MLS
• 2025-11-24 Listed $175,000 Hive MLS
• 2005-05-06 Sold (Public Records) $25,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $1,861 · +6.8% YoY. Source: county tax records.