521 Monroe St

Macon-Bibb County, GA 31201

$74,995B-

3 bd · 1.5 ba · 1,552 sqft · Built 1880 · SingleFamily · Active · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,382/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$102
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $596/mo
• Annual: $7,152/yr
• Cap rate: 15.83%
• Cash-on-cash: 34.06%
• DSCR: 2.52
• 1% rule: 1.84%
• Cash to close: $20,999

Investor read

• This is a 3-bed/1.5-bath single-family listed at $75k.
• At list price, monthly cash flow is $596 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 73 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Bibb County (urban): math 11% / reading 18% proficiency, ranked #161 of 174 in GA (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Williams Elementary School (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 349 students, 100% FRL); Miller Magnet Middle School (math 16% / reading 33%, grade F, #301 of 470 statewide, top 66%, 585 students, 100% FRL); Central High School (math 8% / reading 2%, grade F, #394 of 424 statewide, top 97%, 844 students, 100% FRL) — zoned schools average 100% FRL vs 75% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.1%/yr); 73 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 154 units permitted in Bibb County in 2024 (0 in 5+ unit buildings).
• Bibb County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 15.8% vs local median 5.4% in Macon-Bibb County — 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.

Questions for listing agent

• It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.