1654 Mcarthur St · Albany, GA 31701

$72,900

4 bd · 2.0 ba · 1,800 sqft · MultiFamily public records · 77 Days on market

Built 1977 10,019 sqft 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
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Solid slab duplex, tenant occupied. Has ductwork for central heat and air but current units not working. Owner provided window A/C, space heaters. 2 beds, 1 baths each side with living room and eat-in kitchen, washer hookups in kitchen. Good tenants! 750/ month total rents

Key facts

• 0.23 acre lot
• 2 parking spots
• Built 1977

Property features AI

Exterior

• Parking: 2 parking spaces
• Utilities: Sewer connected
• Home design: Single-family detached home; One story
• Construction: Brick construction; Slab foundation
• Exterior features: Shingle roof; Lot approximately 0.23 acres

Interior

• Kitchen: Electric cooktop; Electric oven
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Interior features: Smoke detector(s)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $73k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $73k).
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 4.7% in Albany — 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 60/100 on livability (#371 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety B+; Watch: schools F, crime F, amenities F.
• Dougherty County (urban): math 12% / reading 16% proficiency, ranked #163 of 174 in GA (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 177 active listings in the ZIP; lower-income renter base — watch delinquency; 45 units permitted in Dougherty County in 2024 (20 in 5+ unit buildings).
• At $1,569/mo this rent would consume 54% of the median local household income ($35k/yr) (locally 1383% 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 $504 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Dougherty County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $73k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 98% 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 $68,526 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 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 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.15% ✓
• Cap rate: 18.60%
• Cash-on-cash: 43.95%
• DSCR: 2.96
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.0%
• Equity multiple: 1.44×
• Total profit: $8,908
• Equity at exit: $10,870

10-year hold

• IRR: 20.2%
• Equity multiple: 2.73×
• Total profit: $35,211
• Equity at exit: $6,303

Cash invested: $20,412 (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 31701

• Home prices YoY: -27.3%
• Active inventory: 177
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,569 high
• Mortgage (P&I): −$382
• Tax from tax record: −$79 /mo · $952/yr
• Insurance: −$30
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $321

Break-even live

Break-even rent $1,163

Max offer price $72,900

Occupancy floor 75%

Sensitivity live

Price	-10% $362	-5% $342	+0% $321	+5% $300	+10% $280
Rent	-10% $197	-5% $259	+0% $321	+5% $383	+10% $445
Rate	-1.0pp $358	-0.5pp $340	base $321	+0.5pp $302	+1.0pp $283

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,568
Total (2 units)			$1,569

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: $18,225
• Closing costs: $2,187
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $72,900 Active 77 DOM
2. 2026-06-18
   days on market $72,900 Active 76 DOM
3. 2026-06-17
   days on market $72,900 Active 75 DOM
4. 2026-06-16
   days on market $72,900 Active 74 DOM
5. 2026-06-15
   days on market $72,900 Active 73 DOM
6. 2026-06-14
   days on market $72,900 Active 71 DOM
7. 2026-06-13
   days on market $72,900 Active 70 DOM
8. 2026-06-10
   days on market $72,900 Active 68 DOM
9. 2026-06-09
   days on market $72,900 Active 67 DOM
10. 2026-06-08
    days on market $72,900 Active 66 DOM
11. 2026-06-07
    days on market $72,900 Active 65 DOM
12. 2026-06-05
    pricedays on market $72,900 Active 62 DOM
13. 2026-06-02
    days on market $73,900 Active 60 DOM
14. 2026-06-01
    days on market $73,900 Active 59 DOM
15. 2026-05-31
    days on market $73,900 Active 58 DOM
16. 2026-05-30
    days on market $73,900 Active 57 DOM
17. 2026-05-21
    price $73,900
18. 2026-04-03
    listed $74,900 Active
19. 2021-08-09
    soldstatus $32,000
20. 2012-11-06
    soldstatus $18,500

ⓘ 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: $952 · $79/mo
• Projected year-2 tax: $952 · $79/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 3/10 Moderate FEMA zone AE · 18% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,828
• − Mortgage interest: −$4,084
• − Property taxes: −$952
• − Insurance: −$5,483
• − Repairs & maintenance: −$1,506
• − Management: −$1,506
• − Depreciation: −$2,121
• Taxable income: $3,176
• Est. tax owed @ 24.0%: −$762
• After-tax cash flow: $3,089/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: Dougherty County
• NCES district ID: 1301830
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 16% ▼ -9.00%
• Median HH income: $33,105
• Composite: 11.31/100
• National rank: #9716
• State rank: #163 of 174 in GA

Livability — Albany

• Score: 60/100
• State rank: #371
• US rank: #18903

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A- Health & safety B+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albany, GA
• County: Dougherty County · 89,040 people
• City population: 89,040
• Metro: Albany, GA
• Population (ZIP): 16,135
• Household income: $35,025
• Rent vs Own: 66.9% rent · 33.1% own
• Severe rent burden: 1383.0

Population outlook (Dougherty County) Hauer SSP2

• Today (2025): 84,551 people
• By 2030: 80,637 · -4.6%
• By 2040: 72,090 · -14.7%
• By 2050: 64,056 · -24.2%
• By 2075: 46,332 · -45.2%
• By 2100: 33,127 · -60.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (74%)
• Race & ethnicity: Black 74% White 21% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Dougherty

• 2024 margin: Solid D (+41.1) · D 70.4% · R 29.3%
• 2008→2024 swing: +6.2pp toward D · 2008: 35.0pp · 2024: 41.1pp
• All cycles: 2024: D+41.1 2020: D+40.0 2016: D+38.3 2012: D+39.0 2008: D+35.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.55%
• Current HPI: 145.4604
• Rent YoY: —
• Metro: Albany, 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

+299.5% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $73,900 SWGABOR
• 2026-04-03 Listed $74,900 SWGABOR
• 2021-08-09 Sold (Public Records) $32,000 Public Records
• 2012-11-06 Sold (Public Records) $18,500 Public Records

Property tax history

+2.1%/yr

Latest (2025): $952 · +6.1% YoY. Source: county tax records.