2487 Reese Ave · Augusta-Richmond County consolidated government (balance), GA 30906

$84,000

2 bd · 1.0 ba · 1,025 sqft · SingleFamily public records · 38 Days on market

Built 1951 0.25 ac lot $82/sqft · 28% below area Est $117k · 28% 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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment property for a rental. This nice and well kept 2 bedroom 1 bath is ready for its new owner. the home is close to dining and shopping. Schedule your showing today!

Key facts

• 0.25 acre lot
• Built 1951
• Listed 38 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Residential property; Located in the Fleming Heights subdivision
• Construction: Vinyl siding; Composition roof; Crawl space / no basement
• Exterior features: Front porch; Privacy fencing / fenced yard

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Total of 5 rooms (includes bedrooms and living areas)
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Window coverings; Electric water heater
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $-107 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $65k (22.4% below list).
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $65k (22.4% below list) — sets the bar for cash-flow.
• Cap rate 10.9% vs local median 5.3% in Augusta-Richmond County consolidated government (balance) — 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.
• Richmond County (urban): math 12% / reading 20% proficiency, ranked #154 of 174 in GA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.2%/yr); 364 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 561 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $581 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y 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 $67k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 67% 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 $65,175 (22.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.35% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.33%
• DSCR: 1.73
• GRM: 6.2

CMA / ARV

• ARV (median comp): $116,571
• List price: $84,000
• Delta: -27.94%
• 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
2472 Reese Ave	0.10mi	3/1.0 (+1)	1,025 (0%)	3mo	$89,400	$87	88
2469 Reese Ave	0.11mi	3/1.0 (+1)	1,025 (0%)	2mo	$85,000	$83	88
2520 Reese Ave	0.21mi	2/1.0	1,073 (+5%)	5mo	$76,000	$71	79
1755 Nixon Rd	0.52mi	3/1.0 (+1)	1,008 (-2%)	5mo	$17,000	$17	64
2560 Kaufman Dr	0.60mi	3/1.0 (+1)	1,008 (-2%)	2mo	$60,000	$60	63
2013 Shark Dr	0.52mi	3/1.0 (+1)	1,059 (+3%)	3mo	$133,000	$126	62
2425 Bass Ave	0.54mi	3/1.0 (+1)	1,014 (-1%)	13mo	$156,000	$154	58
2521 Hammond Ave	0.33mi	2/1.0	896 (-13%)	7mo	$65,000	$73	57
1907 Virginia Ave	0.17mi	3/2.0 (+1)	1,133 (+10%)	11mo	$128,900	$114	56
2564 Ivey Rd	0.73mi	3/1.0 (+1)	968 (-6%)	6mo	$107,000	$111	47
2400 Yates Dr	0.55mi	3/1.0 (+1)	888 (-13%)	8mo	$38,000	$43	40
2413 Yates Dr	0.65mi	3/1.0 (+1)	888 (-13%)	6mo	$112,300	$126	37

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -31.7%
• Equity multiple: 0.00×
• Total profit: $-23,448
• Equity at exit: $12,525

10-year hold

• IRR: -82.2%
• Equity multiple: -0.74×
• Total profit: $-40,888
• Equity at exit: $7,263

Cash invested: $23,520 (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 30906

• Home prices YoY: -21.6%
• Rents YoY: -0.2%
• Active inventory: 364
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,135 high
• Mortgage (P&I): −$441
• Tax from tax record: −$101 /mo · $1,215/yr
• Insurance: −$35
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $-107

Break-even live

Break-even rent $1,270

Max offer price $65,175

Occupancy floor —

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2235 Woodward Ave Augusta, GA	2.0	1.0	773	$895	$1.16	44d	1	0.34mi
2401 Norfolk St Augusta, GA	2.0	1.0	991	$949	$0.96	43d	1	0.40mi
2020 Garr Dr Augusta, GA	3.0	1.0	1100	$1,200	$1.09	14d	1	0.55mi
2205 Southgate Dr Augusta, GA	1.0–2.0	1.0–1.5	770	$1,099	$1.43	14d	7	0.73mi
2119 Lumpkin Rd Augusta, GA	2.0	1.0–1.5	974	$912	$0.94	21d	6	0.96mi
1822 Catalina Dr Augusta, GA	3.0	1.0	888	$1,350	$1.52	23d	1	0.97mi
1822 Catalina Dr Augusta, GA	3.0	1.0	888	$1,350	$1.52	43d	1	0.97mi
2932 Abelia Dr Augusta, GA	3.0	1.0	888	$1,100	$1.24	43d	1	1.04mi
1940 Haynie Dr Unit 2 Augusta, GA	1.0	1.0	840	$850	$1.01	23d	1	1.13mi
1940 Haynie Dr Unit Main Augusta, GA	3.0	1.5	840	$1,500	$1.79	23d	1	1.13mi
1940 Haynie Dr Unit Main Augusta, GA	3.0	1.5	840	$1,500	$1.79	43d	1	1.13mi
1914 1/2 Kratha Dr Augusta, GA	2.0	1.0	1400	$995	$0.71	14d	1	1.18mi
526 Richmond Hill Rd W Augusta, GA	1.0	1.0	770	$810	$1.05	14d	1	1.22mi
2230 Hollis Rd Augusta, GA	2.0	1.0	1000	$975	$0.97	43d	1	1.27mi
3211 Kevin Dr Augusta, GA	3.0	1.5	1005	$1,275	$1.27	43d	1	1.32mi
3211 Kevin Dr Augusta, GA	3.0	1.5	1005	$1,275	$1.27	23d	1	1.32mi
2910 Richmond Hill Rd Augusta, GA	2.0	1.0	1000	$900	$0.90	43d	3	1.35mi
2810 Thomas Ln Augusta, GA	2.0	2.0	1030	$975	$0.95	43d	6	1.49mi
2125 Kennedy Dr Augusta, GA	2.0	1.0	750	$795	$1.06	14d	1	1.49mi

Listing history 32 events

1. 2026-06-18
   days on market $84,000 Active 38 DOM
2. 2026-06-17
   days on market $84,000 Active 37 DOM
3. 2026-06-16
   days on market $84,000 Active 36 DOM
4. 2026-06-15
   days on market $84,000 Active 35 DOM
5. 2026-06-14
   days on market $84,000 Active 33 DOM
6. 2026-06-10
   days on market $84,000 Active 30 DOM
7. 2026-06-09
   days on market $84,000 Active 29 DOM
8. 2026-06-08
   days on market $84,000 Active 28 DOM
9. 2026-06-07
   days on market $84,000 Active 27 DOM
10. 2026-06-03
    days on market $84,000 Active 23 DOM
11. 2026-06-02
    days on market $84,000 Active 22 DOM
12. 2026-06-01
    days on market $84,000 Active 21 DOM
13. 2026-05-31
    days on market $84,000 Active 20 DOM
14. 2026-05-30
    days on market $84,000 Active 19 DOM
15. 2026-05-11
    historical
16. 2026-01-19
    price $84,000
17. 2025-10-06
    listed $89,000 Active
18. 2025-10-06
    listed $84,000 Active 183-char remark
19. 2025-05-07
    historical
20. 2025-05-07
    historical
21. 2025-04-25
    listed $104,900
22. 2025-04-25
    listed $104,900
23. 2024-07-26
    historical
24. 2024-07-26
    historical
25. 2024-04-09
    listed $104,900
26. 2024-04-09
    listed $104,900
27. 2023-05-16
    historical
28. 2023-05-16
    historical
29. 2023-05-10
    listed $104,900
30. 2023-05-10
    listed $104,900
31. 2022-09-27
    soldstatus $67,000
32. 2021-08-06
    soldstatus $37,000

ⓘ 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: $1,215 · $101/mo
• Projected year-2 tax: $1,215 · $101/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 6/10 Major FEMA zone AE · 68% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,621
• − Mortgage interest: −$4,705
• − Property taxes: −$1,215
• − Insurance: −$5,538
• − Repairs & maintenance: −$1,090
• − Management: −$1,090
• − Depreciation: −$2,444
• Taxable loss: −$2,461
• Est. tax savings @ 24.0%: +$591
• After-tax cash flow: $-688/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: Richmond County
• NCES district ID: 1304380
• Math proficiency: 12% ▼ -9.00%
• Reading proficiency: 20% ▼ -6.00%
• Median HH income: $38,069
• Composite: 13.43/100
• National rank: #9524
• State rank: #154 of 174 in GA

Livability — Augusta-Richmond County consolidated government (balance)

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

Census & demographics

• Census place: Augusta-Richmond County consolidated government (balance), GA
• County: Richmond County · 190,917 people
• City population: 154,035
• Metro: Augusta-Richmond County, GA-SC
• Population (ZIP): 60,423
• Household income: $45,999
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3363.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 200,753 people
• By 2030: 200,232 · -0.3%
• By 2040: 196,813 · -2.0%
• By 2050: 190,347 · -5.2%
• By 2075: 172,496 · -14.1%
• By 2100: 146,284 · -27.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (64%)
• Race & ethnicity: Black 64% White 27% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+36.1) · D 67.8% · R 31.7%
• 2008→2024 swing: +4.3pp toward D · 2008: 31.8pp · 2024: 36.1pp
• All cycles: 2024: D+36.1 2020: D+37.2 2016: D+32.4 2012: D+33.8 2008: D+31.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.99%
• Current HPI: 213.5733
• Rent YoY: ▼ -0.25%
• Metro: Augusta-Richmond County, GA-SC
• 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

+127.0% since first listed

18 events — show timeline

• 2026-05-11 Listing Removed — Hive MLS
• 2026-01-19 Price Changed $84,000 Hive MLS
• 2025-10-06 Listed $84,000 Hive MLS
• 2025-10-06 Listed $89,000 Hive MLS
• 2025-05-07 Listing Removed — Hive MLS
• 2025-05-07 Listing Removed — Hive MLS
• 2025-04-25 Listed $104,900 Hive MLS
• 2025-04-25 Listed $104,900 Hive MLS
• 2024-07-26 Listing Removed — Hive MLS
• 2024-07-26 Listing Removed — Hive MLS
• 2024-04-09 Listed $104,900 Hive MLS
• 2024-04-09 Listed $104,900 Hive MLS
• 2023-05-16 Listing Removed — Hive MLS
• 2023-05-16 Listing Removed — Hive MLS
• 2023-05-10 Listed $104,900 Hive MLS
• 2023-05-10 Listed $104,900 Hive MLS
• 2022-09-27 Sold (Public Records) $67,000 Public Records
• 2021-08-06 Sold (Public Records) $37,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,215 · +1.5% YoY. Source: county tax records.