2802 Banks Ave · Albany, GA 31705

$89,000

2 bd · 1.0 ba · 1,062 sqft · SingleFamily public records · 129 Days on market

Built 1955 0.37 ac lot

---

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
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• 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

Great investment opportunity! Add this income producing property to your portfolio today! Contact your Realtor for more information.

Key facts

• 0.37 acre lot
• Built 1955
• Listed 128 days

Property features AI

Finance

• Financial info: Annual tax approximately $395.30

Exterior

• Home design: Single-family detached residence; 1 story
• Exterior features: Located near Clark Ave. and Banks Ave.

Interior

• Bathrooms: 1 full bathroom
• Interior features: Subdivision: Oakdale

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 45 units permitted in Dougherty County in 2024 (20 in 5+ unit buildings).
• This rent runs 32% 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 $615 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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: 1.29% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.78%
• DSCR: 1.79
• GRM: 6.5

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: 14.4%
• Equity multiple: 1.61×
• Total profit: $15,119
• Equity at exit: $13,270

10-year hold

• IRR: 26.4%
• Equity multiple: 3.84×
• Total profit: $70,897
• Equity at exit: $7,695

Cash invested: $24,920 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,147 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$33 /mo · $395/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $369

Break-even live

Break-even rent $679

Max offer price $89,000

Occupancy floor 63%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
311 Lexington Dr Albany, GA	3.0	1.5	1275	$1,500	$1.18	21d	1	0.37mi
411 Vintage Rd Albany, GA	3.0	1.5	1299	$1,150	$0.89	21d	1	1.17mi
500 Pinson Rd Albany, GA	1.0–3.0	1.0–2.0	1025	$800	$0.78	21d	12	1.26mi
2415 Brierwood Dr Albany, GA	1.0–3.0	1.0–2.5	987	$862	$0.87	21d	22	1.31mi

Listing history 17 events

1. 2026-06-19
   days on market $89,000 Active 129 DOM
2. 2026-06-18
   days on market $89,000 Active 128 DOM
3. 2026-06-17
   days on market $89,000 Active 127 DOM
4. 2026-06-16
   days on market $89,000 Active 126 DOM
5. 2026-06-15
   days on market $89,000 Active 125 DOM
6. 2026-06-14
   days on market $89,000 Active 123 DOM
7. 2026-06-13
   days on market $89,000 Active 122 DOM
8. 2026-06-10
   days on market $89,000 Active 120 DOM
9. 2026-06-09
   days on market $89,000 Active 119 DOM
10. 2026-06-08
    days on market $89,000 Active 118 DOM
11. 2026-06-07
    days on market $89,000 Active 117 DOM
12. 2026-06-05
    days on market $89,000 Active 114 DOM
13. 2026-06-02
    days on market $89,000 Active 112 DOM
14. 2026-06-01
    days on market $89,000 Active 111 DOM
15. 2026-05-31
    days on market $89,000 Active 110 DOM
16. 2026-05-30
    days on market $89,000 Active 109 DOM
17. 2024-02-21
    listed $89,000 Active

ⓘ 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: $395 · $33/mo
• Projected year-2 tax: $819 · $68/mo
• Expected delta: +$423/yr (+$35/mo · 107.1%)

ⓘ 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 ≥109°F today · 19 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: $13,761
• − Mortgage interest: −$4,985
• − Property taxes: −$395
• − Insurance: −$445
• − Repairs & maintenance: −$1,101
• − Management: −$1,101
• − Depreciation: −$2,589
• Taxable income: $3,144
• Est. tax owed @ 24.0%: −$755
• After-tax cash flow: $3,675/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

• County: Dougherty County · 89,040 people
• 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

1 event — show timeline

• 2024-02-21 Listed $89,000 SWGABOR

Property tax history

+0.4%/yr

Latest (2025): $395 · +8.0% YoY. Source: county tax records.