2149 Mercer University Dr · Macon-Bibb County, GA 31204

$69,000

2 bd · 2.0 ba · 1,120 sqft · SingleFamily public records · 52 Days on market

Built 1961 10,454 sqft lot $62/sqft · 11% below area Est $77k · 11% 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 +12.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Speculative Buy! Investors this is a property that is a stone throw from I-75, very close vicinity to the Mercer University educational institution. Located next door to another property on the market for sale. It awaits a buyer with a vision of multi-housing, commercial probabilities, etc.

Key facts

• 0.24 acre lot
• Built 1961
• Listed 51 days

Property features AI

Finance

• Other: Property condition: Fixer; Lot size approximately 0.24 acres; Approximate living area 1,120 (public records); Subdivision: Pio Nono Heights; Address: 2149 Mercer University Dr, Macon, GA 31204
• HOA & community: No HOA

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; High-speed internet available; Cable available; Phone available; Sewer connected; Water available
• Home design: Single-family house; Residential property; Built in 1961; One story
• Construction: Brick construction; Composition roof; Crawl space foundation
• Exterior features: City lot; Property has a view

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 2 bedrooms on the main level
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Cooling system: Other
• Interior features: One-level living; Den; Crawl space basement
• Laundry & utility: Laundry area (other)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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.
• Zoned schools: Hartley Elementary School (math 2% / reading 2%, grade F, #1,204 of 1,228 statewide, top 100%, 438 students, 100% FRL); Southwest High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 800 students, 100% FRL) — zoned schools average 100% FRL vs 75% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.6%/yr); 255 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 34% of the median local income ($39k/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 $477 of loan paydown is wiped out by about $2k 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 + 4.6% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y 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 $25k; list at $69k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% 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 $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.59% ✓
• Cap rate: 13.94%
• Cash-on-cash: 27.29%
• DSCR: 2.21
• GRM: 5.2

CMA / ARV

• ARV (median comp): $77,175
• List price: $69,000
• Delta: -10.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
670 Poppy Ave	0.35mi	3/2.0 (+1)	1,056 (-6%)	1mo	$30,000	$28	69
2586 Dubose St	0.33mi	3/1.0 (+1)	1,129 (+1%)	10mo	$29,000	$26	66
1191 Carroll St	0.48mi	3/1.0 (+1)	1,131 (+1%)	6mo	$70,000	$62	62
1448 Oakland Ave	0.51mi	2/1.0	1,116 (-0%)	14mo	$77,000	$69	60
549 Straight St	0.59mi	2/2.0	1,066 (-5%)	9mo	$50,000	$47	57
1355 Harris St	0.59mi	3/1.0 (+1)	1,102 (-2%)	9mo	$102,000	$93	53
146 Moseley Ave	0.26mi	3/2.0 (+1)	1,230 (+10%)	18mo	$87,500	$71	51
2017 Lowe St	0.39mi	3/1.0 (+1)	1,025 (-8%)	10mo	$47,000	$46	50
2132 Jasamine Ave	0.42mi	2/1.0	1,004 (-10%)	16mo	$54,999	$55	46
2380 Napier Ave	0.69mi	3/1.0 (+1)	1,260 (+12%)	1mo	$45,000	$36	37
853 Grayson Ave	0.69mi	3/1.0 (+1)	984 (-12%)	4mo	$38,000	$39	35
1349 Holt Ave	0.62mi	3/1.0 (+1)	1,278 (+14%)	14mo	$95,998	$75	27

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 · 4.61% rent growth · sell at horizon

5-year hold

• IRR: 23.0%
• Equity multiple: 1.96×
• Total profit: $18,605
• Equity at exit: $10,288

10-year hold

• IRR: 31.9%
• Equity multiple: 4.10×
• Total profit: $59,868
• Equity at exit: $5,966

Cash invested: $19,320 (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 31204

• Rents YoY: 4.6%
• Active inventory: 255
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,100 high
• Mortgage (P&I): −$362
• Tax from tax record: −$39 /mo · $468/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $439

Break-even live

Break-even rent $544

Max offer price $69,000

Occupancy floor 55%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
424 Pansy Ave Macon, GA	2.0	1.0	810	$850	$1.05	43d	1	0.39mi
1460 Brentwood Ave Macon, GA	3.0	2.0	1148	$1,250	$1.09	21d	1	0.57mi
1463 Bankston Ave Macon, GA	2.0	1.0	960	$950	$0.99	43d	1	0.72mi
2154 Napier Ave Macon, GA	3.0	1.0	1344	$1,400	$1.04	21d	1	0.74mi
2445 Lowe St Macon, GA	2.0	1.0	940	$890	$0.95	43d	1	0.74mi
1249 Duncan Ave Unit C Macon, GA	2.0	2.0	900	$795	$0.88	43d	1	0.83mi
1249 Duncan Ave Unit B Macon, GA	2.0	2.0	700	$1,095	$1.56	43d	1	0.83mi
806 Armory Dr Unit B Macon, GA	3.0	1.0	1100	$975	$0.89	43d	1	0.84mi
3034 Churchill St Macon, GA	2.0	1.0	872	$900	$1.03	21d	1	0.91mi
771 Harold St Macon, GA	2.0	1.0	950	$1,250	$1.32	13d	1	0.92mi
1268 College St Unit 1 Macon, GA	2.0	2.0	1500	$1,730	$1.15	43d	1	0.95mi
672 Bowden St Macon, GA	2.0	1.0	1076	$900	$0.84	21d	1	0.97mi
1575 Winston Dr Macon, GA	3.0	2.0	1215	$1,350	$1.11	21d	1	1.02mi
1232 Shamrock St Macon, GA	3.0	2.0	1282	$1,700	$1.33	13d	1	1.02mi
663 Williams St Macon, GA	3.0	1.0	911	$980	$1.08	43d	1	1.05mi
1227 Calhoun St Macon, GA	2.0	1.5	1212	$1,200	$0.99	43d	1	1.08mi
1347 Jackson St Macon, GA	3.0	2.0	1435	$1,300	$0.91	43d	1	1.09mi
738 Liberty St Unit 738 Macon, GA	2.0	1.0	1378	$989	$0.72	21d	1	1.10mi
738 Liberty St Unit 730 Macon, GA	2.0	1.0	1376	$680	$0.49	21d	1	1.10mi
1528 Wellworth Ave Macon, GA	3.0	1.0	1126	$1,000	$0.89	21d	1	1.10mi
832 Elm St Macon, GA	3.0	2.0	1121	$1,175	$1.05	43d	1	1.10mi
1089 Brisbane St Macon, GA	3.0	1.0	816	$1,075	$1.32	13d	1	1.19mi
1635 2nd St Macon, GA	3.0	2.0	1159	$1,500	$1.29	43d	1	1.20mi
1020 Radio Dr Macon, GA	2.0	1.0	850	$889	$1.05	43d	1	1.20mi
1596 Burton Ave Macon, GA	3.0	1.0	1117	$895	$0.80	13d	1	1.21mi
2350 English Ave Apt 3D Macon, GA	3.0	1.5	980	$1,095	$1.12	43d	1	1.21mi
1121 Columbus St Unit A Macon, GA	1.0	1.0	900	$1,250	$1.39	13d	1	1.22mi
185 Oak Haven Ave Apt A4 Macon, GA	3.0	2.0	1100	$1,200	$1.09	21d	1	1.28mi
1782 Eveline Ave Macon, GA	3.0	1.0	900	$1,050	$1.17	43d	1	1.29mi
3080 Rice Mill Rd Macon, GA	3.0	1.0	1100	$950	$0.86	43d	1	1.29mi
3080 Rice Mill Rd Unit C-1 Macon, GA	3.0	1.5	1100	$925	$0.84	21d	1	1.29mi
3080 Rice Mill Rd Unit M-5 Macon, GA	1.0	1.0	875	$750	$0.86	43d	1	1.29mi
1975 Vineville Ave Apt F3 Macon, GA	1.0	1.0	950	$700	$0.74	13d	1	1.32mi
1975 Vineville Ave Macon, GA	1.0–3.0	1.0	1050	$825	$0.79	21d	5	1.33mi
2063 Vineville Ave Unit N5 Macon, GA	3.0	2.0	1169	$1,200	$1.03	21d	1	1.33mi
569 Colquitt St Macon, GA	1.0	1.0	1330	$650	$0.49	43d	1	1.34mi
957 New St Macon, GA	2.0	1.5	1200	$1,050	$0.88	13d	1	1.34mi
1196 Mimosa Dr Macon, GA	3.0	2.0	1200	$1,300	$1.08	21d	1	1.37mi
132 Oak Haven Ave Macon, GA	2.0	1.0	720	$975	$1.35	43d	1	1.37mi
455 Pursley St Apt B15 Macon, GA	1.0	1.0	850	$650	$0.76	13d	1	1.37mi

Listing history 25 events

1. 2026-06-19
   days on market $69,000 Active 52 DOM
2. 2026-06-18
   days on market $69,000 Active 51 DOM
3. 2026-06-17
   days on market $69,000 Active 50 DOM
4. 2026-06-16
   days on market $69,000 Active 49 DOM
5. 2026-06-15
   days on market $69,000 Active 48 DOM
6. 2026-06-14
   days on market $69,000 Active 46 DOM
7. 2026-06-13
   days on market $69,000 Active 45 DOM
8. 2026-06-10
   days on market $69,000 Active 43 DOM
9. 2026-06-09
   days on market $69,000 Active 42 DOM
10. 2026-06-09
    days on market $69,000 Active 41 DOM
11. 2026-06-07
    days on market $69,000 Active 40 DOM
12. 2026-06-03
    days on market $69,000 Active 36 DOM
13. 2026-06-02
    days on market $69,000 Active 35 DOM
14. 2026-06-01
    days on market $69,000 Active 34 DOM
15. 2026-05-31
    days on market $69,000 Active 33 DOM
16. 2026-05-30
    days on market $69,000 Active 32 DOM
17. 2026-04-30
    listed $69,000 Active 297-char remark

    Show marketing remark (297 chars)

    Great Speculative Buy! Investors this is a property that is a stone throw from I-75, very close vicinity to the Mercer University educational institution. Located next door to another property on the market for sale. It awaits a buyer with a vision of multi-housing, commercial probabilities, etc.

18. 2026-04-27
    listed $69,000 New 302-char remark
19. 2026-04-21
    historical
20. 2026-02-24
    listed $149,900 New
21. 2023-12-29
    historical
22. 2021-12-13
    listed $100,000 New
23. 2021-09-22
    historical
24. 2020-09-21
    listed $100,000 Active
25. 1999-07-09
    soldstatus $25,000

ⓘ 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: $468 · $39/mo
• Projected year-2 tax: $635 · $53/mo
• Expected delta: +$166/yr (+$14/mo · 35.5%)

ⓘ 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 ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $13,201
• − Mortgage interest: −$3,865
• − Property taxes: −$468
• − Insurance: −$345
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$2,007
• Taxable income: $4,403
• Est. tax owed @ 24.0%: −$1,057
• After-tax cash flow: $4,217/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): 32,421
• Household income: $38,784
• Rent vs Own: 57.5% rent · 42.5% own
• Severe rent burden: 2674.0

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 (65%)
• Race & ethnicity: Black 65% White 28% Hispanic / Latino 3% Two or more races 2% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 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: ▼ -135.44%
• Current HPI: 194.5459
• Rent YoY: ▲ 4.61%
• 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

+176.0% since first listed

10 events — show timeline

• 2026-04-30 Listed $69,000 MGMLS
• 2026-04-30 Listed $69,000 CGMLS
• 2026-04-27 Listed $69,000 GAMLS
• 2026-04-21 Listing Removed — GAMLS
• 2026-02-24 Listed $149,900 GAMLS
• 2023-12-29 Listing Removed — GAMLS
• 2021-12-13 Listed $100,000 GAMLS
• 2021-09-22 Listing Removed — GAMLS
• 2020-09-21 Listed $100,000 GAMLS
• 1999-07-09 Sold (Public Records) $25,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $468 · -1.3% YoY. Source: county tax records.