1422 Heard Ave · Augusta-Richmond County consolidated government (balance), GA 30904

$189,900

5 bd · 2.0 ba · 2,139 sqft · MultiFamily public records

Built 1939 9,583 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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Rent growth +3.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• 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

Investment Opportunity, Instant Income. 1422 Heard and 1422 1/2 Heard Avenue Two separate rentable residences for a total of 5 Bedrooms and 2 Full Baths. 2396sf total. Conveniently located just off Wrightsboro Road. Upper-Level residence 1300+sf 3br 1ba (leased thru July2026 by long term tenant who would like to renew/ renegotiate lease) and Lower-level residence approx 1000sf 2br 1ba / w flex space (currently vacant). Buyer to verify sf. of both homes. Shared Water Meter Separate Electric Meters Both residences have a full bath and ceiling fans throughout with window AC units. Kitchen appliances are included in both upstairs and downstairs. There is a separate washer and dryer room

Key facts

• 9,583 sq ft lot
• Built 1939

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Cap rate 12.6% 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.
• Zoned schools: Monte Sano Elementary School (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 410 students, 98% FRL); Langford Middle School (math 2% / reading 14%, grade F, #445 of 470 statewide, top 95%, 731 students, 98% FRL); Academy of Richmond County High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 1,141 students, 98% FRL) — zoned schools average 98% FRL vs 72% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 222 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 561 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).
• At $2,724/mo this rent would consume 70% of the median local household income ($47k/yr) (locally 1594% 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 $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,900

Questions for the listing agent

1. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.43% ✓
• Cap rate: 12.62%
• Cash-on-cash: 22.61%
• DSCR: 2.01
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.29% rent growth · sell at horizon

5-year hold

• IRR: 16.8%
• Equity multiple: 1.69×
• Total profit: $36,559
• Equity at exit: $28,315

10-year hold

• IRR: 26.2%
• Equity multiple: 3.42×
• Total profit: $128,846
• Equity at exit: $16,419

Cash invested: $53,172 (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 30904

• Rents YoY: 4.3%
• Active inventory: 222
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,724 high
• Mortgage (P&I): −$996
• Tax from tax record: −$75 /mo · $902/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $1,002

Break-even live

Break-even rent $1,456

Max offer price $189,900

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,412
1× unit	2	1	$1,312
Total (2 units)			$2,724

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 Crawford Ave Augusta, GA	6.0	3.5	2945	$800	$0.27	23d	1	1.11mi

Listing history 19 events

1. 2026-04-27
   status Pending
2. 2026-04-27
   historical
3. 2026-04-27
   historical
4. 2026-04-19
   price $189,900
5. 2026-02-10
   price $194,500
6. 2026-01-18
   price $199,000
7. 2026-01-01
   listed $208,900 Active
8. 2026-01-01
   listed $189,900
9. 2025-11-29
   historical
10. 2025-11-29
    historical
11. 2025-08-28
    listed $209,000
12. 2025-08-28
    listed $209,000
13. 2024-07-02
    historical $1,050
14. 2024-06-18
    price $1,050
15. 2024-05-14
    price $1,075
16. 2024-03-05
    price $1,100
17. 2024-02-20
    price $1,125
18. 2024-02-07
    price $1,150
19. 2023-11-22
    listed $1,250

ⓘ 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: $902 · $75/mo
• Projected year-2 tax: $1,747 · $146/mo
• Expected delta: +$846/yr (+$70/mo · 93.8%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,688
• − Mortgage interest: −$10,637
• − Property taxes: −$902
• − Insurance: −$950
• − Repairs & maintenance: −$2,615
• − Management: −$2,615
• − Depreciation: −$5,524
• Taxable income: $9,445
• Est. tax owed @ 24.0%: −$2,267
• After-tax cash flow: $9,755/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): 23,400
• Household income: $46,696
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 1594.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 47% White 41% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Italian 1% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada, South Korea, Jamaica
• Languages at home: 93% English-only · Spanish 4% Korean 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: ▼ -211.97%
• Current HPI: 199.0807
• Rent YoY: ▲ 4.29%
• 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

+15092.0% since first listed

19 events — show timeline

• 2026-04-27 Pending — Hive MLS
• 2026-04-27 Listing Removed — Hive MLS
• 2026-04-27 Listing Removed — Hive MLS
• 2026-04-19 Price Changed $189,900 Hive MLS
• 2026-02-10 Price Changed $194,500 Hive MLS
• 2026-01-18 Price Changed $199,000 Hive MLS
• 2026-01-01 Listed $189,900 Hive MLS
• 2026-01-01 Listed $208,900 Hive MLS
• 2025-11-29 Listing Removed — Hive MLS
• 2025-11-29 Listing Removed — Hive MLS
• 2025-08-28 Listed $209,000 Hive MLS
• 2025-08-28 Listed $209,000 Hive MLS
• 2024-07-02 Rental Removed $1,050 AUGUSTAMLS
• 2024-06-18 Price Changed $1,050 AUGUSTAMLS
• 2024-05-14 Price Changed $1,075 AUGUSTAMLS
• 2024-03-05 Price Changed $1,100 AUGUSTAMLS
• 2024-02-20 Price Changed $1,125 AUGUSTAMLS
• 2024-02-07 Price Changed $1,150 AUGUSTAMLS
• 2023-11-22 Listed for Rent $1,250 AUGUSTAMLS

Property tax history

+6.8%/yr

Latest (2025): $902 · +40.6% YoY. Source: county tax records.