362 29th Ave · Columbus, GA 31903

$29,900

2 bd · 1.0 ba · 942 sqft · SingleFamily public records · 18 Days on market

Built 1948 8,712 sqft lot Est $39k · 23% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Great property with potential to make it your own!!! Fixer Upper. Sold AS IS. 2 bedrooms, 1 bath, living room, Kitchen, and large backyard. Call today to make this property your own.

Key facts

• 8,712 sq ft lot
• Listed 18 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($841 rent vs $30k).
• Recommended offer: $29k (1.5% below list) — sets the bar for market timing.
• Cap rate 24.0% vs local median 4.7% in Columbus — 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 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 (+1.8%/yr); 100 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).
• This rent runs 31% of the median local income ($32k/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 $207 of loan paydown is wiped out by about $897 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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 76% 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 $29,451 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.81% ✓
• Cap rate: 23.99%
• Cash-on-cash: 63.22%
• DSCR: 3.81
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $38,622
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
345 29th Ave	0.06mi	2/1.0	944 (+0%)	9mo	$39,500	$42	89
2713 Dawson St	0.14mi	2/1.0	918 (-2%)	6mo	$22,142	$24	85
481 N Harold St	0.26mi	2/1.0	960 (+2%)	2mo	$50,000	$52	83
427 Bernard Dr	0.24mi	2/1.0	981 (+4%)	9mo	$65,500	$67	75
2517 Garden Dr	0.29mi	2/—	1,004 (+7%)	3mo	$38,000	$38	73
2916 Lee St	0.29mi	2/1.0	1,021 (+8%)	2mo	$42,000	$41	71
184 30th Ave	0.43mi	3/1.0 (+1)	961 (+2%)	8mo	$105,000	$109	65
2721 Lee St	0.27mi	2/1.0	834 (-12%)	4mo	$25,000	$30	64
270 32nd Ave	0.37mi	2/1.0	1,053 (+12%)	3mo	$19,900	$19	60
400 29th Ave Lot 23	0.15mi	3/2.0 (+1)	1,024 (+9%)	11mo	$17,000	$17	60
810 Winston Rd	0.74mi	2/1.0	1,008 (+7%)	5mo	$7,500	$7	50
716 Benning Dr	0.71mi	2/1.5	1,056 (+12%)	4mo	$53,300	$50	41

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: 60.9%
• Equity multiple: 3.66×
• Total profit: $22,282
• Equity at exit: $4,458

10-year hold

• IRR: 65.1%
• Equity multiple: 7.18×
• Total profit: $51,713
• Equity at exit: $2,585

Cash invested: $8,372 (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 31903

• Home prices YoY: -14.5%
• Rents YoY: 1.8%
• Active inventory: 100
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $841 high
• Mortgage (P&I): −$157
• Tax from tax record: −$54 /mo · $646/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $441

Break-even live

Break-even rent $282

Max offer price $29,900

Occupancy floor 43%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2630 Garden Dr Columbus, GA	2.0	1.0	1008	$755	$0.75	44d	1	0.18mi
497 Mellon St Columbus, GA	1.0	1.0	600	$600	$1.00	21d	1	0.32mi
3213 Lee St Unit 3 Columbus, GA	2.0	1.0	1100	$925	$0.84	14d	1	0.39mi
3217 Lee St Apt 1 Columbus, GA	2.0	1.0	688	$899	$1.31	44d	1	0.40mi
2406 Dawson St #2 Columbus, GA	2.0	1.0	565	$700	$1.24	21d	1	0.44mi
3320 N Lumpkin Rd Columbus, GA	2.0–3.0	2.0	1098	$999	$0.91	14d	8	0.64mi
214 23rd Ave Unit A Columbus, GA	1.0	1.0	640	$410	$0.64	14d	1	0.74mi
2983 Buena Vista Rd Columbus, GA	2.0	1.0	920	$735	$0.80	44d	1	0.81mi
2106 S Andrews Cir Unit A Columbus, GA	1.0	1.0	700	$575	$0.82	14d	1	0.84mi
3390 N Lumpkin Rd Columbus, GA	2.0–3.0	2.0	1073	$999	$0.93	14d	14	0.87mi
604 Morris Rd Columbus, GA	1.0	1.0	568	$625	$1.10	44d	1	0.89mi
1048 Brooks Rd Columbus, GA	2.0	1.0	942	$925	$0.98	21d	1	0.99mi
2201 Heard St Columbus, GA	2.0	1.0	1005	$975	$0.97	21d	1	1.01mi
1206 Winston Rd Columbus, GA	2.0	1.0	868	$750	$0.86	44d	1	1.10mi
2728 9th St Columbus, GA	3.0	1.0	880	$865	$0.98	44d	1	1.14mi
2724 9th St Columbus, GA	2.0	1.0	900	$875	$0.97	14d	1	1.14mi
916 Lawyers Ln Columbus, GA	1.0	1.0	833	$525	$0.63	21d	1	1.21mi
243 Oakley Ct Columbus, GA	1.0–2.0	1.0–2.0	1005	$1,149	$1.14	14d	6	1.23mi
3909 Baker Plaza Dr Columbus, GA	1.0–2.0	1.0–2.0	869	$1,010	$1.16	14d	1	1.23mi
784 Terminal Ct Unit 11 Columbus, GA	2.0	1.0	600	$725	$1.21	44d	1	1.25mi
3128 Carver St Columbus, GA	3.0	1.0	988	$1,000	$1.01	44d	1	1.29mi
3128 Carver St Columbus, GA	3.0	1.0	988	$925	$0.94	21d	1	1.29mi
3309 10th St Columbus, GA	3.0	1.0	1080	$950	$0.88	44d	1	1.40mi
706 Palmetto Ave Unit B Columbus, GA	2.0	1.0	675	$700	$1.04	14d	1	1.44mi

Listing history 2 events

1. 2025-11-28
   status Pending
2. 2025-11-10
   listed $29,900 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: $646 · $54/mo
• Projected year-2 tax: $646 · $54/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,089
• − Mortgage interest: −$1,675
• − Property taxes: −$646
• − Insurance: −$150
• − Repairs & maintenance: −$807
• − Management: −$807
• − Depreciation: −$870
• Taxable income: $5,134
• Est. tax owed @ 24.0%: −$1,232
• After-tax cash flow: $4,060/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): 20,644
• Household income: $32,401
• Rent vs Own: 71.9% rent · 28.1% own
• Severe rent burden: 1878.0

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: Predominantly Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 11% White 9% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1%

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: ▼ -22.30%
• Current HPI: 131.4761
• Rent YoY: ▲ 1.82%
• 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

2 events — show timeline

• 2025-11-28 Pending — CBOR
• 2025-11-10 Listed $29,900 CBOR

Property tax history

+4.7%/yr

Latest (2025): $646 · +0.0% YoY. Source: county tax records.