1124 20th St · Columbus, GA 31901

$184,900

2 bd · 2.0 ba · 1,722 sqft · SingleFamily public records · 38 Days on market

Built 1903 0.33 ac lot $107/sqft · 32% above area Est $204k · 9% under

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Why this score? — see what drove the F 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 +11.7/15.0
• Cash flow +8.1/30.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Schools +2.2/10.0
• 1% rule +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Rare commercial opportunity in a highly desirable area of Columbus. (We are willing to try and rezone it to residential for potential buyers. ) This two-lot property is sold together as one offering and features three commercial structures: a large workshop ideal for a variety of business uses, a secondary building offering flexible space for offices, storage, or light industrial use, and an additional structure ready for renovation or redevelopment. Positioned in a high-demand area with excellent potential for investors or owner-users seeking versatile commercial space and long-term value. Perfect for renovation, expansion, or future commercial development.

Key facts

• Flexible space
• Additional structure
• Two-lot property

Tags

• TWO-LOT PROPERTY
• THREE COMMERCIAL STRUCTURES
• LARGE WORKSHOP
• FLEXIBLE SPACE
• ADDITIONAL STRUCTURE

Property features AI

Finance

• Other: Listing broker: 1st Class Real Estate Excellence; Listing agent: Matthew Smith — 706-573-3153; Listing broker contact: 706-237-8680

Exterior

• Home design: Single-family residence
• Exterior features: Lot approximately 0.33 acres

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Located in the EAST HEIGHTS subdivision; Directions: Take I-85 S to I-185 S into Columbus; exit toward 20th Street and continue to 1130 20th Street

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-178 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (33.4% below list).
• Recommended offer: $123k (33.4% below list) — sets the bar for 1% rule.

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 (+1.2%/yr); 60 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 38 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $185k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,095 (33.4% 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 33% concession, seller financing, or rate buy-down credit?
3. Built in 1903 — 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. 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?
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 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: 0.67% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.14%
• DSCR: 0.82
• GRM: 12.5

CMA / ARV

• ARV (median comp): $204,077
• List price: $184,900
• Delta: -9.40%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1301 20th St	0.12mi	3/2.0 (+1)	1,711 (-1%)	3mo	$120,000	$70	86
1045 Linwood Blvd	0.26mi	3/2.0 (+1)	1,630 (-5%)	6mo	$58,000	$36	69
1108 19th St	0.08mi	3/2.0 (+1)	1,498 (-13%)	2mo	$145,000	$97	68
1447 21st St	0.36mi	3/2.0 (+1)	1,836 (+7%)	2mo	$201,900	$110	65
1318 21st St	0.18mi	2/2.5	1,937 (+12%)	6mo	$225,000	$116	64
2718 10th Ave	0.61mi	3/2.0 (+1)	1,656 (-4%)	4mo	$175,000	$106	57
2300 18th Ave	0.65mi	3/2.0 (+1)	1,800 (+4%)	2mo	$268,500	$149	56
1927 18th Ave	0.55mi	2/1.0	1,574 (-9%)	1mo	$229,900	$146	55
1533 15th Ave	0.51mi	3/3.0 (+1)	1,832 (+6%)	3mo	$215,000	$117	54
1403 19th Ave	0.25mi	3/1.0 (+1)	1,950 (+13%)	5mo	$74,000	$38	53
1622 14th Ave	0.40mi	3/2.0 (+1)	1,496 (-13%)	5mo	$139,900	$94	50
1504 17th Ave	0.67mi	3/2.0 (+1)	1,906 (+11%)	3mo	$300,000	$157	43

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 · 1.23% rent growth · sell at horizon

5-year hold

• IRR: -25.1%
• Equity multiple: 0.16×
• Total profit: $-43,538
• Equity at exit: $27,569

10-year hold

• IRR: -26.7%
• Equity multiple: -0.18×
• Total profit: $-61,317
• Equity at exit: $15,987

Cash invested: $51,772 (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 31901

• Rents YoY: 1.2%
• Active inventory: 60
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,231 high
• Mortgage (P&I): −$970
• Tax from tax record: −$104 /mo · $1,250/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-178

Break-even live

Break-even rent $1,457

Max offer price $153,383

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1503 11th Ave Columbus, GA	3.0	2.0	1370	$1,200	$0.88	13d	1	0.42mi
1510 28th St Columbus, GA	3.0	2.0	1050	$800	$0.76	43d	1	0.66mi
2922 Howard Ave Unit 3 Columbus, GA	2.0	2.0	1100	$795	$0.72	43d	1	0.68mi
2908 10th Ave Columbus, GA	3.0	2.0	2232	$2,000	$0.90	43d	1	0.73mi
707 28th St Columbus, GA	3.0	1.0	1384	$1,000	$0.72	13d	1	0.75mi
1514 Forest Ave Columbus, GA	2.0	1.5	1128	$840	$0.74	43d	1	1.05mi
1219 Eberhart Ave Unit 2 Columbus, GA	2.0	1.0	1100	$1,100	$1.00	13d	1	1.06mi
1192 Munro Ave Columbus, GA	3.0	2.0	1711	$1,750	$1.02	43d	1	1.06mi
1258 Cedar Ave Columbus, GA	2.0	2.0	1220	$1,400	$1.15	43d	1	1.08mi
3822 Howard Ave Unit A Columbus, GA	2.0	1.0	1241	$1,150	$0.93	43d	1	1.36mi
1521 Dixon Dr Columbus, GA	2.0	2.0	1400	$1,400	$1.00	13d	1	1.41mi
1706 Wells Dr Columbus, GA	3.0	2.0	1990	$1,850	$0.93	13d	1	1.42mi
1111 Henry Ave Columbus, GA	3.0	2.0	1407	$1,200	$0.85	43d	1	1.45mi

Listing history 19 events

1. 2026-06-18
   days on market $184,900 Active 38 DOM
2. 2026-06-17
   days on market $184,900 Active 37 DOM
3. 2026-06-16
   days on market $184,900 Active 36 DOM
4. 2026-06-15
   days on market $184,900 Active 35 DOM
5. 2026-06-14
   days on market $184,900 Active 33 DOM
6. 2026-06-13
   days on market $184,900 Active 32 DOM
7. 2026-06-10
   days on market $184,900 Active 30 DOM
8. 2026-06-09
   days on market $184,900 Active 29 DOM
9. 2026-06-08
   days on market $184,900 Active 28 DOM
10. 2026-06-07
    days on market $184,900 Active 27 DOM
11. 2026-06-05
    days on market $184,900 Active 24 DOM
12. 2026-06-03
    days on market $184,900 Active 23 DOM
13. 2026-06-02
    days on market $184,900 Active 22 DOM
14. 2026-06-01
    days on market $184,900 Active 21 DOM
15. 2026-05-31
    days on market $184,900 Active 20 DOM
16. 2026-05-30
    days on market $184,900 Active 19 DOM
17. 2026-04-16
    price $215,000
18. 2026-01-17
    listed $215,000 Active 667-char remark
19. 2012-10-12
    soldstatus $80,000

ⓘ 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: $1,250 · $104/mo
• Projected year-2 tax: $1,701 · $142/mo
• Expected delta: +$451/yr (+$38/mo · 36.1%)

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

Taxation est. · year 1

• Rental income: $14,771
• − Mortgage interest: −$10,357
• − Property taxes: −$1,250
• − Insurance: −$924
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$5,379
• Taxable loss: −$5,503
• Est. tax savings @ 24.0%: +$1,321
• After-tax cash flow: $-820/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): 5,841
• Household income: $51,424
• Rent vs Own: 66.4% rent · 33.6% own
• Severe rent burden: 598.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 32% Two or more races 9% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Asian/Pacific 2%

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: ▼ -157.58%
• Current HPI: 122.9139
• Rent YoY: ▲ 1.23%
• 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

+131.1% since first listed

4 events — show timeline

• 2026-05-27 Price Changed $184,900 CBOR
• 2026-04-16 Price Changed $215,000 CBOR
• 2026-01-17 Listed $215,000 CBOR
• 2012-10-12 Sold (Public Records) $80,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,250 · +0.0% YoY. Source: county tax records.