1523 Malone Dr · Albany, GA 31705

$53,000

3 bd · 2.0 ba · 1,776 sqft · SingleFamily public records · 81 Days on market

Built 1949 0.28 ac lot ↓ 12% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This three-bedroom, two-bath ranch home is conveniently located near shops and stores, offering comfort and convenience. While it does need some TLC, the potential is undeniable! With some vision and effort, this could become the perfect first home or an excellent investment opportunity. Don't miss out-schedule your viewing today and explore the possibilities!

Key facts

• 0.28 acre lot
• 2 parking spots
• Built 1949

Property features AI

Exterior

• Parking: 2 parking spaces
• Home design: Detached single-family home; 1 story; Slab foundation
• Construction: Shingle roof; Slab foundation
• Exterior features: Chain link fenced yard; Shingle roof

Interior

• Kitchen: Refrigerator
• Bedrooms: Single-family residence (1 story)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Refrigerator included; Vinyl flooring; Central air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $53k.

Deal economics

• At list price, monthly cash flow is $595 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Recommended offer: $50k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.8% vs local median 4.7% in Albany — 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 60/100 on livability (#371 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety B+; Watch: schools F, crime F, amenities F.
• Dougherty County (urban): math 12% / reading 16% proficiency, ranked #163 of 174 in GA (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.1%/yr); 128 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 45 units permitted in Dougherty County in 2024 (20 in 5+ unit buildings).
• This rent runs 34% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $366 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Dougherty County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $37k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,820 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.30% ✓
• Cap rate: 19.76%
• Cash-on-cash: 48.11%
• DSCR: 3.14
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 51.2%
• Equity multiple: 3.41×
• Total profit: $35,761
• Equity at exit: $7,902

10-year hold

• IRR: 58.6%
• Equity multiple: 8.37×
• Total profit: $109,303
• Equity at exit: $4,582

Cash invested: $14,840 (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 31705

• Home prices YoY: -20.1%
• Rents YoY: 8.1%
• Active inventory: 128
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,218 medium
• Mortgage (P&I): −$278
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $595

Break-even live

Break-even rent $465

Max offer price $53,000

Occupancy floor 46%

Sensitivity live

Price	-10% $625	-5% $610	+0% $595	+5% $580	+10% $565
Rent	-10% $499	-5% $547	+0% $595	+5% $643	+10% $691
Rate	-1.0pp $622	-0.5pp $608	base $595	+0.5pp $581	+1.0pp $567

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1967 S Riverview Cir Albany, GA	4.0	1.0	1232	$950	$0.77	22d	1	0.26mi

Listing history 13 events

1. 2026-05-06
   status Pending
2. 2026-05-05
   status Active
3. 2026-04-29
   price $53,000
4. 2026-03-26
   price $55,000
5. 2026-03-17
   price $65,000
6. 2026-03-07
   price $70,000
7. 2026-03-02
   price $85,000
8. 2026-02-14
   price $88,000
9. 2026-01-07
   listed $89,900 Active
10. 2025-06-13
    soldstatus $46,000 Sold 362-char remark

    Show marketing remark (362 chars)

    This three-bedroom, two-bath ranch home is conveniently located near shops and stores, offering comfort and convenience. While it does need some TLC, the potential is undeniable! With some vision and effort, this could become the perfect first home or an excellent investment opportunity. Don't miss out-schedule your viewing today and explore the possibilities!

11. 2025-05-22
    status Under Contract 362-char remark

    Show marketing remark (362 chars)

    This three-bedroom, two-bath ranch home is conveniently located near shops and stores, offering comfort and convenience. While it does need some TLC, the potential is undeniable! With some vision and effort, this could become the perfect first home or an excellent investment opportunity. Don't miss out-schedule your viewing today and explore the possibilities!

12. 2025-04-22
    price $49,900 362-char remark

    Show marketing remark (362 chars)

    This three-bedroom, two-bath ranch home is conveniently located near shops and stores, offering comfort and convenience. While it does need some TLC, the potential is undeniable! With some vision and effort, this could become the perfect first home or an excellent investment opportunity. Don't miss out-schedule your viewing today and explore the possibilities!

13. 2025-03-10
    listed $59,900 New 362-char remark

    Show marketing remark (362 chars)

    This three-bedroom, two-bath ranch home is conveniently located near shops and stores, offering comfort and convenience. While it does need some TLC, the potential is undeniable! With some vision and effort, this could become the perfect first home or an excellent investment opportunity. Don't miss out-schedule your viewing today and explore the possibilities!

ⓘ 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: $804 · $67/mo
• Projected year-2 tax: $804 · $67/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,613
• − Mortgage interest: −$2,969
• − Property taxes: −$804
• − Insurance: −$265
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$1,542
• Taxable income: $6,695
• Est. tax owed @ 24.0%: −$1,607
• After-tax cash flow: $5,533/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: Dougherty County
• NCES district ID: 1301830
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 16% ▼ -9.00%
• Median HH income: $33,105
• Composite: 11.31/100
• National rank: #9716
• State rank: #163 of 174 in GA

Livability — Albany

• Score: 60/100
• State rank: #371
• US rank: #18903

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A- Health & safety B+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albany, GA
• County: Dougherty County · 89,040 people
• City population: 89,040
• Metro: Albany, GA
• Population (ZIP): 30,791
• Household income: $42,972
• Rent vs Own: 51.6% rent · 48.4% own
• Severe rent burden: 1933.0

Population outlook (Dougherty County) Hauer SSP2

• Today (2025): 84,551 people
• By 2030: 80,637 · -4.6%
• By 2040: 72,090 · -14.7%
• By 2050: 64,056 · -24.2%
• By 2075: 46,332 · -45.2%
• By 2100: 33,127 · -60.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 23% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Asian/Pacific 1%

Political lean MEDSL · Dougherty

• 2024 margin: Solid D (+41.1) · D 70.4% · R 29.3%
• 2008→2024 swing: +6.2pp toward D · 2008: 35.0pp · 2024: 41.1pp
• All cycles: 2024: D+41.1 2020: D+40.0 2016: D+38.3 2012: D+39.0 2008: D+35.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.46%
• Current HPI: 152.4574
• Rent YoY: ▲ 8.10%
• Metro: Albany, GA
• 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

-11.5% since first listed

13 events — show timeline

• 2026-05-06 Pending — SWGABOR
• 2026-05-05 Relisted — SWGABOR
• 2026-04-29 Price Changed $53,000 SWGABOR
• 2026-03-26 Price Changed $55,000 SWGABOR
• 2026-03-17 Price Changed $65,000 SWGABOR
• 2026-03-07 Price Changed $70,000 SWGABOR
• 2026-03-02 Price Changed $85,000 SWGABOR
• 2026-02-14 Price Changed $88,000 SWGABOR
• 2026-01-07 Listed $89,900 SWGABOR
• 2025-06-13 Sold (MLS) $46,000 GAMLS
• 2025-05-22 Pending — GAMLS
• 2025-04-22 Price Changed $49,900 GAMLS
• 2025-03-10 Listed $59,900 GAMLS

Property tax history

+7.4%/yr

Latest (2025): $804 · +75.2% YoY. Source: county tax records.