4249 Elkan Ave · Macon-Bibb County, GA 31206

$89,900

3 bd · 1.0 ba · 1,206 sqft · SingleFamily public records · 69 Days on market

Built 1955 8,276 sqft lot $75/sqft · 9% below area Est $98k · 9% 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 +11.4/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Rent growth +3.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home, remodeled in 2024, would make the perfect starter home or a great addition to an rental portfolio! Situated in Groveland Park, this 1,206 sq ft 3 bed, 1 bath home offers the added bonus of a bonus room and a dedicated laundry room! This location provides quick access to shopping, schools, the interstate and is less than 10 minutes away from the amphitheater and pickleball facilities. Please do not disturb tenants. Tenants are on a month-to-month lease and showings will require at least a 24 hour notice. Home would also make a great starter home!

Key facts

• Remodeled in 2024
• 8,276 sq ft lot
• Built 1955

Tags

• REMODELED IN 2024
• QUICK ACCESS TO SHOPPING
• QUICK ACCESS TO SCHOOLS
• QUICK ACCESS TO INTERSTATE
• QUICK ACCESS TO AMPHITHEATER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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 B — 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 (+5.0%/yr); 209 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).
• At $1,205/mo this rent would consume 48% of the median local household income ($30k/yr) (locally 1335% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bibb County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 5.0% 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 69 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $20k; list at $90k implies a 350% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 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. 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: 1.34% ✓
• Cap rate: 11.73%
• Cash-on-cash: 19.42%
• DSCR: 1.86
• GRM: 6.2

CMA / ARV

• ARV (median comp): $98,321
• List price: $89,900
• Delta: -8.56%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2422 Adger Rd	0.18mi	3/1.0	1,104 (-8%)	3mo	$125,000	$113	75
5780 Edwina Dr	0.58mi	3/1.0	1,200 (-0%)	6mo	$125,000	$104	67
2545 Greenwood Ter	0.57mi	3/2.0	1,212 (+0%)	3mo	$125,000	$103	66
4255 Vinson Ave	0.23mi	4/1.0 (+1)	1,108 (-8%)	7mo	$80,000	$72	65
4525 Clover Pl	0.44mi	3/2.0	1,291 (+7%)	1mo	$130,000	$101	63
2552 Allan Way	0.47mi	3/1.0	1,062 (-12%)	0mo	$124,500	$117	58
2455 Rosen Ave	0.25mi	4/2.0 (+1)	1,344 (+11%)	4mo	$135,000	$100	57
2489 Locksley Dr	0.39mi	3/2.0	1,381 (+14%)	4mo	$169,900	$123	50
2665 Chatsworth Ct	0.50mi	3/1.5	1,056 (-12%)	4mo	$50,000	$47	50
2738 Village Green Ln	0.64mi	3/1.0	1,056 (-12%)	1mo	$35,000	$33	49
2315 Silver Pines Dr	0.55mi	3/2.0	1,377 (+14%)	2mo	$169,000	$123	46
2473 Charlene Ct	0.67mi	3/1.5	1,048 (-13%)	1mo	$111,000	$106	44

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 · 5.03% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.55×
• Total profit: $13,855
• Equity at exit: $13,404

10-year hold

• IRR: 23.7%
• Equity multiple: 3.23×
• Total profit: $56,094
• Equity at exit: $7,773

Cash invested: $25,172 (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 31206

• Rents YoY: 5.0%
• Active inventory: 209
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,205 high
• Mortgage (P&I): −$471
• Tax from tax record: −$36 /mo · $432/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $407

Break-even live

Break-even rent $690

Max offer price $89,900

Occupancy floor 61%

Sensitivity live

Price	-10% $458	-5% $433	+0% $407	+5% $382	+10% $356
Rent	-10% $312	-5% $360	+0% $407	+5% $455	+10% $503
Rate	-1.0pp $453	-0.5pp $430	base $407	+0.5pp $384	+1.0pp $360

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2477 Thrasher Ave Macon, GA	3.0	1.0	960	$825	$0.86	14d	1	0.11mi
4331 Ashland Dr Macon, GA	3.0	1.0	864	$1,025	$1.19	45d	1	0.11mi
2459 Vivian Dr Macon, GA	3.0	1.0	792	$850	$1.07	14d	1	0.13mi
2427 Vivian Dr Macon, GA	4.0	1.0	1056	$1,150	$1.09	45d	1	0.20mi
2418 Adger Rd Macon, GA	4.0	1.0	1365	$1,500	$1.10	45d	1	0.21mi
2423 Thrasher Ave Macon, GA	3.0	1.0	1056	$725	$0.69	45d	1	0.22mi
4386 Thrasher Cir Macon, GA	3.0	2.0	1120	$1,400	$1.25	45d	1	0.27mi
4278 Vinson Ave Macon, GA	4.0	2.0	1104	$1,550	$1.40	22d	1	0.27mi
4471 Elkan Ave Macon, GA	4.0	2.0	1128	$1,495	$1.33	45d	1	0.33mi
5771 Satterfield Dr Macon, GA	3.0	1.0	888	$1,250	$1.41	45d	1	0.37mi
4300 Essex Rd Macon, GA	4.0	1.5	1246	$1,450	$1.16	22d	1	0.38mi
2641 Leone Dr N Macon, GA	3.0	1.0	864	$1,100	$1.27	45d	1	0.40mi
5487 Bloomfield Rd Macon, GA	3.0	2.0	1050	$1,200	$1.14	22d	1	0.44mi
4455 Fairfax Dr Macon, GA	3.0	2.0	1352	$1,225	$0.91	45d	1	0.46mi
2665 Chatsworth Ct Macon, GA	3.0	1.5	1056	$1,175	$1.11	45d	1	0.47mi
5962 Bloomfield Rd Macon, GA	4.0	1.5	1159	$1,300	$1.12	14d	1	0.50mi
5711 Sterling Pl Macon, GA	3.0	1.0	864	$1,500	$1.74	22d	1	0.51mi
5708 Edwina Dr Macon, GA	3.0	1.0	925	$1,275	$1.38	45d	1	0.54mi
4685 Pinedale Dr Macon, GA	3.0	1.5	1404	$1,450	$1.03	14d	1	0.59mi
2916 Walmar Dr Macon, GA	3.0	2.0	1300	$1,275	$0.98	45d	1	0.78mi
2961 Deeb Dr Macon, GA	3.0	1.0	1000	$1,000	$1.00	45d	1	0.78mi
4069 Blair Ct Macon, GA	3.0	1.0	864	$850	$0.98	45d	1	1.05mi
5161 Nisbet Dr Macon, GA	2.0	1.5	1040	$975	$0.94	45d	1	1.14mi
3257 Ohara Dr S Macon, GA	3.0	1.0	1352	$1,125	$0.83	22d	1	1.19mi
4995 Bloomfield Rd Macon, GA	2.0	1.5	900	$997	$1.11	22d	1	1.32mi

Listing history 35 events

1. 2026-06-21
   days on market $89,900 Active 69 DOM
2. 2026-06-19
   days on market $89,900 Active 67 DOM
3. 2026-06-18
   days on market $89,900 Active 66 DOM
4. 2026-06-17
   days on market $89,900 Active 65 DOM
5. 2026-06-16
   days on market $89,900 Active 64 DOM
6. 2026-06-15
   days on market $89,900 Active 63 DOM
7. 2026-06-14
   days on market $89,900 Active 61 DOM
8. 2026-06-13
   days on market $89,900 Active 60 DOM
9. 2026-06-10
   days on market $89,900 Active 58 DOM
10. 2026-06-09
    days on market $89,900 Active 57 DOM
11. 2026-06-09
    days on market $89,900 Active 56 DOM
12. 2026-06-07
    days on market $89,900 Active 55 DOM
13. 2026-06-03
    days on market $89,900 Active 51 DOM
14. 2026-06-02
    days on market $89,900 Active 50 DOM
15. 2026-06-01
    days on market $89,900 Active 49 DOM
16. 2026-05-31
    days on market $89,900 Active 48 DOM
17. 2026-05-30
    days on market $89,900 Active 47 DOM
18. 2026-04-13
    listed $89,900 Active 562-char remark

    Show marketing remark (562 chars)

    This home, remodeled in 2024, would make the perfect starter home or a great addition to an rental portfolio! Situated in Groveland Park, this 1,206 sq ft 3 bed, 1 bath home offers the added bonus of a bonus room and a dedicated laundry room! This location provides quick access to shopping, schools, the interstate and is less than 10 minutes away from the amphitheater and pickleball facilities. Please do not disturb tenants. Tenants are on a month-to-month lease and showings will require at least a 24 hour notice. Home would also make a great starter home!

19. 2026-04-12
    listed $89,900 New 454-char remark

    Show marketing remark (454 chars)

    Calling all investors! Remodeled in 2024, this actively rented, 3 bed, 1 bath, 1,206 sq ft. home in Groveland Park! Excellent opportunity to jump in to the rental ownership market or expand your rental portfolio. Location provides quick access to shopping, schools, the interstate and even the amphitheater and pickleball facilities. Please do not disturb tenants. Tenants are on a month-to-month lease. This home would also make for a good starter home!

20. 2026-04-12
    historical

    Show marketing remark (454 chars)

    Calling all investors! Remodeled in 2024, this actively rented, 3 bed, 1 bath, 1,206 sq ft. home in Groveland Park! Excellent opportunity to jump in to the rental ownership market or expand your rental portfolio. Location provides quick access to shopping, schools, the interstate and even the amphitheater and pickleball facilities. Please do not disturb tenants. Tenants are on a month-to-month lease. This home would also make for a good starter home!

21. 2025-10-08
    listed $89,900 New
22. 2025-09-28
    historical
23. 2025-05-05
    status Back On Market
24. 2025-04-25
    status Under Contract
25. 2025-03-24
    status Back On Market
26. 2025-03-23
    historical
27. 2024-10-17
    price $93,900
28. 2024-10-17
    price $93,900
29. 2024-10-17
    price $93,900
30. 2024-09-20
    listed $99,000 New
31. 2018-09-12
    soldstatus $20,000
32. 2018-07-04
    listed $25,000
33. 2007-05-21
    soldstatus $53,000
34. 2007-02-27
    soldstatus $25,000
35. 2006-04-13
    soldstatus $43,000

ⓘ 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: $432 · $36/mo
• Projected year-2 tax: $827 · $69/mo
• Expected delta: +$395/yr (+$33/mo · 91.4%)

ⓘ 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 ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,464
• − Mortgage interest: −$5,036
• − Property taxes: −$432
• − Insurance: −$450
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$2,615
• Taxable income: $3,617
• Est. tax owed @ 24.0%: −$868
• After-tax cash flow: $4,019/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): 24,310
• Household income: $30,042
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 1335.0

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: Predominantly Black (76%)
• Race & ethnicity: Black 76% White 12% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -80.17%
• Current HPI: 148.6765
• Rent YoY: ▲ 5.03%
• 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

+109.1% since first listed

18 events — show timeline

• 2026-04-13 Listed $89,900 MGMLS
• 2026-04-12 Listing Removed — GAMLS
• 2026-04-12 Listed $89,900 GAMLS
• 2025-10-08 Listed $89,900 GAMLS
• 2025-09-28 Listing Removed — GAMLS
• 2025-05-05 Relisted — GAMLS
• 2025-04-25 Pending — GAMLS
• 2025-03-24 Relisted — GAMLS
• 2025-03-23 Listing Removed — GAMLS
• 2024-10-17 Price Changed $93,900 MGMLS
• 2024-10-17 Price Changed $93,900 CGMLS
• 2024-10-17 Price Changed $93,900 GAMLS
• 2024-09-20 Listed $99,000 GAMLS
• 2018-09-12 Sold (MLS) $20,000 MGMLS
• 2018-07-04 Listed $25,000 MGMLS
• 2007-05-21 Sold (Public Records) $53,000 Public Records
• 2007-02-27 Sold (Public Records) $25,000 Public Records
• 2006-04-13 Sold (Public Records) $43,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $432 · -1.3% YoY. Source: county tax records.