2829 Thomas St · Columbus, GA 31906

$45,000

2 bd · 1.0 ba · 630 sqft · SingleFamily public records · 169 Days on market

Built 1941 3,485 sqft lot $71/sqft · 23% below area Est $58k · 23% under ↓ 13% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price improved! Don't miss this 2BR/1BA all-brick home situated on a level lot in the Brooksville Subdivision. The roof was replaced in 2025, offering added peace of mind. With a little TLC, this property offers plenty of potential and a great opportunity to make it your own. Relax on the covered front and back porches—perfect for enjoying the outdoors—and take advantage of the convenient detached laundry room. Being sold as-is, with no repairs or warranties provided by the seller.

Key facts

• Level lot
• 3,485 sq ft lot
• Listed 169 days

Tags

• COVERED FRONT AND BACK PORCHES
• DETACHED LAUNDRY ROOM
• LEVEL LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($800 rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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+, crime F, commute 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.
• Zoned schools: Brewer Elementary School (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 498 students, 97% FRL); Rothschild Leadership Academy School (math 2% / reading 12%, grade F, #456 of 470 statewide, top 97%, 515 students, 96% FRL); Carver High School (math 10% / reading 75%, grade F, #51 of 424 statewide, top 12%, 916 students, 97% FRL) — zoned schools average 97% FRL vs 61% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 118 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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 + 4.8% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 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 1941 — 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: 1.78% ✓
• Cap rate: 15.16%
• Cash-on-cash: 31.67%
• DSCR: 2.41
• GRM: 4.7

CMA / ARV

• ARV (median comp): $58,386
• List price: $45,000
• Delta: -22.93%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2917 Hood St	0.17mi	2/1.0	696 (+10%)	5mo	$70,000	$101	71

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 · 4.82% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 2.22×
• Total profit: $15,381
• Equity at exit: $6,710

10-year hold

• IRR: 37.0%
• Equity multiple: 4.73×
• Total profit: $47,035
• Equity at exit: $3,891

Cash invested: $12,600 (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 31906

• Rents YoY: 4.8%
• Active inventory: 118
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $800 high
• Mortgage (P&I): −$236
• Tax from tax record: −$45 /mo · $537/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $332

Break-even live

Break-even rent $379

Max offer price $45,000

Occupancy floor 53%

Sensitivity live

Price	-10% $358	-5% $345	+0% $332	+5% $320	+10% $307
Rent	-10% $269	-5% $301	+0% $332	+5% $364	+10% $396
Rate	-1.0pp $355	-0.5pp $344	base $332	+0.5pp $321	+1.0pp $309

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2516 Schaul St Columbus, GA	1.0	1.0	610	$775	$1.27	45d	1	0.43mi
784 Terminal Ct Unit 11 Columbus, GA	2.0	1.0	600	$725	$1.21	45d	1	0.59mi
604 Morris Rd Columbus, GA	1.0	1.0	568	$625	$1.10	45d	1	0.66mi
1315 Wildwood Ave Unit 18 Columbus, GA	1.0	1.0	625	$700	$1.12	15d	1	0.79mi
1315 Wildwood Ave Unit 1 Columbus, GA	1.0	1.0	700	$670	$0.96	45d	1	0.79mi
497 Mellon St Columbus, GA	1.0	1.0	600	$600	$1.00	22d	1	0.92mi
485 Mellon St Unit A Columbus, GA	1.0	1.0	480	$650	$1.35	15d	1	0.92mi
706 Palmetto Ave Unit B Columbus, GA	2.0	1.0	675	$700	$1.04	15d	1	1.14mi
2406 Dawson St #2 Columbus, GA	2.0	1.0	565	$700	$1.24	22d	1	1.18mi
822 Ragland Ct Unit A Columbus, GA	2.0	1.0	600	$775	$1.29	45d	1	1.32mi
214 23rd Ave Unit A Columbus, GA	1.0	1.0	640	$410	$0.64	15d	1	1.38mi
3902 N Linden Dr Columbus, GA	2.0	1.0	722	$850	$1.18	15d	1	1.40mi
2106 S Andrews Cir Unit A Columbus, GA	1.0	1.0	700	$575	$0.82	15d	1	1.40mi
917 Oakview Ave Unit D Columbus, GA	1.0	1.0	700	$975	$1.39	45d	1	1.44mi
917 Oakview Ave Unit B Columbus, GA	1.0	1.0	700	$1,200	$1.71	22d	1	1.44mi
917 Oakview Ave Unit 5 Columbus, GA	1.0	1.0	700	$975	$1.39	45d	1	1.44mi
917 Oakview Ave Unit B Columbus, GA	1.0	1.0	700	$1,200	$1.71	45d	1	1.44mi

Listing history 7 events

1. 2026-05-16
   status Pending 498-char remark

   Show marketing remark (498 chars)

   Price improved! Don't miss this 2BR/1BA all-brick home situated on a level lot in the Brooksville Subdivision. The roof was replaced in 2025, offering added peace of mind. With a little TLC, this property offers plenty of potential and a great opportunity to make it your own. Relax on the covered front and back porches—perfect for enjoying the outdoors—and take advantage of the convenient detached laundry room. Being sold as-is, with no repairs or warranties provided by the seller.

2. 2026-04-24
   price $45,000 498-char remark

   Show marketing remark (498 chars)

   Price improved! Don't miss this 2BR/1BA all-brick home situated on a level lot in the Brooksville Subdivision. The roof was replaced in 2025, offering added peace of mind. With a little TLC, this property offers plenty of potential and a great opportunity to make it your own. Relax on the covered front and back porches—perfect for enjoying the outdoors—and take advantage of the convenient detached laundry room. Being sold as-is, with no repairs or warranties provided by the seller.

3. 2026-03-21
   price $47,500 498-char remark

   Show marketing remark (498 chars)

   Price improved! Don't miss this 2BR/1BA all-brick home situated on a level lot in the Brooksville Subdivision. The roof was replaced in 2025, offering added peace of mind. With a little TLC, this property offers plenty of potential and a great opportunity to make it your own. Relax on the covered front and back porches—perfect for enjoying the outdoors—and take advantage of the convenient detached laundry room. Being sold as-is, with no repairs or warranties provided by the seller.

4. 2026-02-19
   price $49,500 498-char remark

   Show marketing remark (498 chars)

   Price improved! Don't miss this 2BR/1BA all-brick home situated on a level lot in the Brooksville Subdivision. The roof was replaced in 2025, offering added peace of mind. With a little TLC, this property offers plenty of potential and a great opportunity to make it your own. Relax on the covered front and back porches—perfect for enjoying the outdoors—and take advantage of the convenient detached laundry room. Being sold as-is, with no repairs or warranties provided by the seller.

5. 2025-11-29
   status Active 498-char remark

   Show marketing remark (498 chars)

   Price improved! Don't miss this 2BR/1BA all-brick home situated on a level lot in the Brooksville Subdivision. The roof was replaced in 2025, offering added peace of mind. With a little TLC, this property offers plenty of potential and a great opportunity to make it your own. Relax on the covered front and back porches—perfect for enjoying the outdoors—and take advantage of the convenient detached laundry room. Being sold as-is, with no repairs or warranties provided by the seller.

6. 2025-10-31
   status Pending 498-char remark

   Show marketing remark (498 chars)

   Price improved! Don't miss this 2BR/1BA all-brick home situated on a level lot in the Brooksville Subdivision. The roof was replaced in 2025, offering added peace of mind. With a little TLC, this property offers plenty of potential and a great opportunity to make it your own. Relax on the covered front and back porches—perfect for enjoying the outdoors—and take advantage of the convenient detached laundry room. Being sold as-is, with no repairs or warranties provided by the seller.

7. 2025-10-29
   listed $52,000 Active 498-char remark

   Show marketing remark (498 chars)

   Price improved! Don't miss this 2BR/1BA all-brick home situated on a level lot in the Brooksville Subdivision. The roof was replaced in 2025, offering added peace of mind. With a little TLC, this property offers plenty of potential and a great opportunity to make it your own. Relax on the covered front and back porches—perfect for enjoying the outdoors—and take advantage of the convenient detached laundry room. Being sold as-is, with no repairs or warranties provided by the seller.

ⓘ 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: $537 · $45/mo
• Projected year-2 tax: $537 · $45/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,600
• − Mortgage interest: −$2,521
• − Property taxes: −$537
• − Insurance: −$225
• − Repairs & maintenance: −$768
• − Management: −$768
• − Depreciation: −$1,309
• Taxable income: $3,472
• Est. tax owed @ 24.0%: −$833
• After-tax cash flow: $3,157/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): 20,400
• Household income: $44,965
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 1003.0

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: Majority Black (64%)
• Race & ethnicity: Black 64% White 28% Hispanic / Latino 4% Two or more races 3% Asian 1%
• Common ancestry: Slovak 1% Lithuanian 1% Hispanic 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -122.49%
• Current HPI: 113.2749
• Rent YoY: ▲ 4.82%
• 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

-13.5% since first listed

7 events — show timeline

• 2026-05-16 Pending — CBOR
• 2026-04-24 Price Changed $45,000 CBOR
• 2026-03-21 Price Changed $47,500 CBOR
• 2026-02-19 Price Changed $49,500 CBOR
• 2025-11-29 Relisted — CBOR
• 2025-10-31 Pending — CBOR
• 2025-10-29 Listed $52,000 CBOR

Property tax history

+14.8%/yr

Latest (2025): $537 · +0.0% YoY. Source: county tax records.