731 Winston Rd · Columbus, GA 31903

$395,000

1 bd · 1.0 ba · 6,495 sqft · MultiFamily public records · 59 Days on market

Built 1953 Good condition 1.06 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Fountain View Apartments is an updated 9-unit apartment complex offering strong income potential. Each unit is approximately 750 square feet and features a 2 bedroom, 1 bath layout, appealing to a wide range of tenants. The property is currently fully occupied and generates $4,295 in total monthly rental income, providing an excellent opportunity for investors seeking steady cash flow. Well maintained with recent updates, this asset is positioned for continued performance and potential upside. Showings are available with an accepted offer only. Do not disturb tenants.

Key facts

• 1.06 acre lot
• Listed 59 days

Property features AI

Finance

• Other: Directions: From I-185 S take exit 4 onto Buena Vista Rd, turn left onto Brennan Rd, at the roundabout take the second exit onto Lakeside Dr; complex is on the right.

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property (5+ units)
• Construction: Brick construction
• Exterior features: Level lot; Located in the Benning Park subdivision; Zoned RMF2

Interior

• Interior features: Unbranded virtual tour available

What this means for you Summary

Snapshot

• This is a 9 × 2-bed/1-bath units multifamily listed at $395k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $384/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $395k).
• Recommended offer: $383k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.8% 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+, schools F, crime 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.
• Market conditions: Rents rising (+1.8%/yr); 100 active listings in the ZIP; lower-income renter base — watch delinquency; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).
• At $7,612/mo this rent would consume 282% of the median local household income ($32k/yr) (locally 1878% 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 $3k of loan paydown is wiped out by about $12k 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 + 1.8% rent growth), your $111k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $383,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.93% ✓
• Cap rate: 16.79%
• Cash-on-cash: 37.47%
• DSCR: 2.67
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.82% rent growth · sell at horizon

5-year hold

• IRR: 32.1%
• Equity multiple: 2.33×
• Total profit: $147,048
• Equity at exit: $58,896

10-year hold

• IRR: 38.6%
• Equity multiple: 4.40×
• Total profit: $375,550
• Equity at exit: $34,152

Cash invested: $110,600 (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 31903

• Home prices YoY: -14.5%
• Rents YoY: 1.8%
• Active inventory: 100
• Price-to-rent: 38.9×

Monthly cashflow live

• Estimated rent: $7,612 high
• Mortgage (P&I): −$2,071
• Tax from tax record: −$324 /mo · $3,883/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,599
• Net cashflow: $3,454

Break-even live

Break-even rent $3,240

Max offer price $395,000

Occupancy floor 50%

9-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 9× units	2	1	$7,614
Total (9 units)			$7,612

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $395,000 Active 59 DOM
2. 2026-06-17
   days on market $395,000 Active 58 DOM
3. 2026-06-16
   days on market $395,000 Active 57 DOM
4. 2026-06-15
   days on market $395,000 Active 56 DOM
5. 2026-06-14
   days on market $395,000 Active 54 DOM
6. 2026-06-13
   days on market $395,000 Active 53 DOM
7. 2026-06-10
   days on market $395,000 Active 51 DOM
8. 2026-06-09
   days on market $395,000 Active 50 DOM
9. 2026-06-08
   days on market $395,000 Active 49 DOM
10. 2026-06-07
    days on market $395,000 Active 48 DOM
11. 2026-06-05
    days on market $395,000 Active 45 DOM
12. 2026-06-03
    days on market $395,000 Active 44 DOM
13. 2026-06-02
    days on market $395,000 Active 43 DOM
14. 2026-06-01
    days on market $395,000 Active 42 DOM
15. 2026-05-31
    days on market $395,000 Active 41 DOM
16. 2026-05-30
    days on market $395,000 Active 40 DOM
17. 2026-05-18
    status Active
18. 2026-04-30
    status Pending
19. 2026-04-06
    status Active
20. 2026-03-29
    status Pending
21. 2026-03-25
    listed $395,000 Active
22. 2024-08-07
    historical $550
23. 2024-07-30
    listed $550
24. 2024-04-10
    historical $550
25. 2024-03-30
    historical $550
26. 2024-03-30
    listed $550
27. 2024-03-26
    listed $550

ⓘ 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: $3,883 · $324/mo
• Projected year-2 tax: $3,883 · $324/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $91,344
• − Mortgage interest: −$22,126
• − Property taxes: −$3,883
• − Insurance: −$1,975
• − Repairs & maintenance: −$7,308
• − Management: −$7,308
• − Depreciation: −$11,491
• Taxable income: $37,253
• Est. tax owed @ 24.0%: −$8,941
• After-tax cash flow: $32,505/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 9-unit apartment complex is in good condition with recent updates, offering strong income potential and steady cash flow.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 20,644
• Household income: $32,401
• Rent vs Own: 71.9% rent · 28.1% own
• Severe rent burden: 1878.0

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: Predominantly Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 11% White 9% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 10% 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: ▼ -22.30%
• Current HPI: 131.4761
• Rent YoY: ▲ 1.82%
• 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

11 events — show timeline

• 2026-05-18 Relisted — CBOR
• 2026-04-30 Pending — CBOR
• 2026-04-06 Relisted — CBOR
• 2026-03-29 Pending — CBOR
• 2026-03-25 Listed $395,000 CBOR
• 2024-08-07 Rental Removed $550 RENT.
• 2024-07-30 Listed for Rent $550 RENT.
• 2024-04-10 Rental Removed $550 APPFOLIO
• 2024-03-30 Rental Removed $550 APPFOLIO
• 2024-03-30 Listed for Rent $550 APPFOLIO
• 2024-03-26 Listed for Rent $550 APPFOLIO

Property tax history

+9.5%/yr

Latest (2025): $3,883 · +0.0% YoY. Source: county tax records.