856 Center St · Macon-Bibb County, GA 31217

$169,900

3 bd · 3.0 ba · 1,818 sqft · MultiFamily public records · 147 Days on market

Built 1950 5,662 sqft lot

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Why this score? — see what drove the C- 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 +18.4/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• DSCR +5.8/10.0
• Rent growth +5.0/5.0
• 1% rule +4.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This single-family home has been configured as a tri-plex, offering three separate units ideal for investors or owner-occupants. Each unit provides private living space, creating flexibility for long-term rentals, short-term income, or multi-generational living. Unit A 1 bedroom studio ; Unit B 2br/1ba; Unit C 1br/1ba. Contact Agent for more information!

Key facts

• Private living space
• Short-term income
• Long-term rentals

Tags

• PRIVATE LIVING SPACE
• LONG-TERM RENTALS
• SHORT-TERM INCOME
• MULTI-GENERATIONAL LIVING

Property features AI

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public sewer
• Home design: Residential income property; Triplex
• Exterior features: No notable exterior features listed

Interior

• Bathrooms: Three full bathrooms
• Heating & cooling: Has heating; Has cooling
• Interior features: Central heating and cooling (listed as 'Other' systems)

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $159 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (6.6% below list).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.

Location & tenants

• Location reads: area grade C — 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.
• Market conditions: Rents rising fast (+10.8%/yr); 122 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).
• This rent runs 42% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $7k appreciation (4.3% local appreciation)).
• Bibb County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.3% appreciation + 8.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y ago; this cycle's ask has dropped $30k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 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 1950 — 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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 7.41%
• Cash-on-cash: 4.00%
• DSCR: 1.18
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.31% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 17.1%
• Equity multiple: 2.07×
• Total profit: $51,023
• Equity at exit: $89,259

10-year hold

• IRR: 19.9%
• Equity multiple: 4.55×
• Total profit: $168,997
• Equity at exit: $148,535

Cash invested: $47,572 (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 31217

• Home prices YoY: 2.1%
• Rents YoY: 10.8%
• Active inventory: 122
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,587 high
• Mortgage (P&I): −$891
• Tax from tax record: −$133 /mo · $1,600/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $159

Break-even live

Break-even rent $1,386

Max offer price $169,900

Occupancy floor 85%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
490 Hall St Macon, GA	4.0	2.0	1596	$1,850	$1.16	43d	1	0.05mi
1105 Boulevard Macon, GA	3.0	1.0	1592	$1,350	$0.85	21d	1	0.51mi
1126 Boulevard Macon, GA	4.0	1.5	1228	$1,260	$1.03	21d	1	0.51mi
870 Laurel Ave Macon, GA	3.0	2.0	2205	$1,300	$0.59	43d	1	0.59mi
892 Applewood St Macon, GA	4.0	2.0	1250	$850	$0.68	43d	1	0.69mi
879 Nottingham Dr Macon, GA	3.0	2.5	2147	$1,700	$0.79	13d	1	0.75mi
850 Parkview Ct Macon, GA	3.0	2.5	1520	$1,700	$1.12	21d	1	0.78mi
850 Parkview Ct Macon, GA	3.0	2.5	1520	$1,700	$1.12	43d	1	0.78mi
854 Trinity Pl Macon, GA	2.0	1.0	1260	$875	$0.69	43d	1	0.80mi
147 Orange St Macon, GA	3.0	2.0	1500	$1,695	$1.13	13d	1	1.21mi
462 Cherry St Macon, GA	2.0	1.0–2.0	988	$3,000	$3.03	13d	25	1.33mi
370 Cherry St Macon, GA	2.0	2.0	1500	$1,400	$0.93	43d	1	1.35mi
484 1st St #300 Macon, GA	2.0	1.0	1400	$1,625	$1.16	13d	1	1.39mi
476 3rd St Macon, GA	2.0	1.0	942	$1,850	$1.96	13d	8	1.40mi

Listing history 42 events

1. 2026-06-19
   days on market $169,900 Active 147 DOM
2. 2026-06-18
   days on market $169,900 Active 146 DOM
3. 2026-06-17
   days on market $169,900 Active 145 DOM
4. 2026-06-16
   days on market $169,900 Active 144 DOM
5. 2026-06-15
   days on market $169,900 Active 143 DOM
6. 2026-06-14
   days on market $169,900 Active 141 DOM
7. 2026-06-13
   pricedays on market $169,900 Active 140 DOM
8. 2026-06-10
   days on market $159,900 Active 138 DOM
9. 2026-06-09
   pricedays on market $159,900 Active 137 DOM
10. 2026-06-09
    days on market $199,900 Active 136 DOM
11. 2026-06-07
    days on market $199,900 Active 135 DOM
12. 2026-06-03
    days on market $199,900 Active 131 DOM
13. 2026-06-02
    days on market $199,900 Active 130 DOM
14. 2026-06-01
    days on market $199,900 Active 129 DOM
15. 2026-05-31
    days on market $199,900 Active 128 DOM
16. 2026-05-30
    days on market $199,900 Active 127 DOM
17. 2026-05-22
    status Active
18. 2026-04-24
    historical Active Under Contract
19. 2026-01-23
    listed $199,900 Active
20. 2025-01-31
    historical
21. 2025-01-31
    historical
22. 2025-01-23
    price $159,000
23. 2025-01-23
    price $159,000
24. 2025-01-16
    price $173,000
25. 2025-01-16
    price $173,000
26. 2024-12-28
    price $175,900
27. 2024-12-28
    price $175,900
28. 2024-11-11
    listed $185,900 Active
29. 2024-11-11
    listed $185,900 New
30. 2024-08-10
    historical
31. 2024-08-09
    historical
32. 2024-06-09
    listed $185,000 New
33. 2024-06-09
    listed $185,000 Active
34. 2024-02-23
    soldstatus $173,000
35. 2022-09-06
    soldstatus $140,000
36. 2022-09-01
    soldstatus $140,000 Sold
37. 2022-09-01
    soldstatus $140,000
38. 2022-08-19
    status Under Contract
39. 2022-08-16
    status Back On Market
40. 2022-08-05
    status Under Contract
41. 2022-08-04
    listed $140,000 New
42. 2022-08-04
    listed $140,000

ⓘ 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: $1,600 · $133/mo
• Projected year-2 tax: $1,600 · $133/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 ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,044
• − Mortgage interest: −$9,517
• − Property taxes: −$1,600
• − Insurance: −$850
• − Repairs & maintenance: −$1,523
• − Management: −$1,523
• − Depreciation: −$4,943
• Taxable loss: −$913
• Est. tax savings @ 24.0%: +$219
• After-tax cash flow: $2,122/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: Bibb County
• NCES district ID: 1300420
• Math proficiency: 11% ▼ -14.00%
• Reading proficiency: 18% ▼ -11.00%
• Median HH income: $37,426
• Composite: 12.13/100
• National rank: #9654
• State rank: #161 of 174 in GA

Livability — Macon-Bibb County

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Macon-Bibb County, GA
• County: Bibb County · 164,332 people
• City population: 143,186
• Metro: Macon-Bibb County, GA
• Population (ZIP): 17,732
• Household income: $44,809
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 391.0

Population outlook (Bibb County) Hauer SSP2

• Today (2025): 148,772 people
• By 2030: 145,904 · -1.9%
• By 2040: 139,404 · -6.3%
• By 2050: 131,603 · -11.5%
• By 2075: 111,050 · -25.4%
• By 2100: 83,346 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (57%)
• Race & ethnicity: Black 57% White 38% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Bibb

• 2024 margin: Strong D (+22.4) · D 61.0% · R 38.5%
• 2008→2024 swing: +4.4pp toward D · 2008: 18.0pp · 2024: 22.4pp
• All cycles: 2024: D+22.4 2020: D+23.8 2016: D+20.2 2012: D+20.0 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.31%
• Current HPI: 209.9166
• Rent YoY: ▲ 10.85%
• Metro: Macon-Bibb County, 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

+42.8% since first listed

26 events — show timeline

• 2026-05-22 Relisted — MGMLS
• 2026-04-24 Contingent — MGMLS
• 2026-01-23 Listed $199,900 MGMLS
• 2025-01-31 Listing Removed — GAMLS
• 2025-01-31 Listing Removed — FMLS
• 2025-01-23 Price Changed $159,000 GAMLS
• 2025-01-23 Price Changed $159,000 FMLS
• 2025-01-16 Price Changed $173,000 GAMLS
• 2025-01-16 Price Changed $173,000 FMLS
• 2024-12-28 Price Changed $175,900 GAMLS
• 2024-12-28 Price Changed $175,900 FMLS
• 2024-11-11 Listed $185,900 GAMLS
• 2024-11-11 Listed $185,900 FMLS
• 2024-08-10 Listing Removed — GAMLS
• 2024-08-09 Listing Removed — FMLS
• 2024-06-09 Listed $185,000 FMLS
• 2024-06-09 Listed $185,000 GAMLS
• 2024-02-23 Sold (Public Records) $173,000 Public Records
• 2022-09-06 Sold (Public Records) $140,000 Public Records
• 2022-09-01 Sold (MLS) $140,000 MGMLS
• 2022-09-01 Sold (MLS) $140,000 GAMLS
• 2022-08-19 Pending — GAMLS
• 2022-08-16 Relisted — GAMLS
• 2022-08-05 Pending — GAMLS
• 2022-08-04 Listed $140,000 MGMLS
• 2022-08-04 Listed $140,000 GAMLS

Property tax history

+21.1%/yr

Latest (2025): $1,600 · +50.6% YoY. Source: county tax records.