2505 W Broad St #924 · Athens-Clarke County unified government (balance), GA 30606

$189,500

3 bd · 2.0 ba · 1,274 sqft · Condo public records · 60 Days on market

Built 1984 $180/mo HOA · 9% of rent

---

Why this score? — see what drove the D 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 +16.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great condo for the price! Lots of space in this 3 bedroom 2 bath unit. vinyl type flooring, vaulted great room and large bedrooms! On the city bus route!

Key facts

• Updated condo
• New flooring
• New paint

Tags

• UPDATED CONDO
• NEW FLOORING
• NEW APPLIANCES
• NEW PAINT
• PRIVATE COVERED BALCONY
• WOODED AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $100 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.4% in Athens-Clarke County unified 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 D — affects rentability + tenant quality, not the cash-flow math above.
• Clarke County (urban): math 17% / reading 21% proficiency, ranked #146 of 174 in GA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Alps Road Elementary School (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 339 students, 83% FRL); Clarke Middle School (math 22% / reading 32%, grade F, #271 of 470 statewide, top 60%, 708 students, 83% FRL); Clarke Central High School (math 15% / reading 24%, grade F, #238 of 424 statewide, top 57%, 1,836 students, 83% FRL).
• Market conditions: Rents rising (+1.6%/yr); 320 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,172 units permitted in Clarke County in 2024 (876 in 5+ unit buildings).
• This rent runs 36% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Clarke County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 21y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $73k; list at $190k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,815 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 1.00% ✓
• Cap rate: 6.93%
• Cash-on-cash: 2.27%
• DSCR: 1.10
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.49×
• Total profit: $-26,903
• Equity at exit: $28,255

10-year hold

• IRR: -8.2%
• Equity multiple: 0.52×
• Total profit: $-25,523
• Equity at exit: $16,384

Cash invested: $53,060 (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 30606

• Rents YoY: 1.6%
• Active inventory: 320
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,901 high
• Mortgage (P&I): −$994
• Tax from tax record: −$149 /mo · $1,784/yr
• Insurance: −$79
• HOA: −$180
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $100

Break-even live

Break-even rent $1,774

Max offer price $189,500

Occupancy floor 90%

Sensitivity live

Price	-10% $208	-5% $154	+0% $100	+5% $47	+10% $-7
Rent	-10% $-50	-5% $25	+0% $100	+5% $176	+10% $251
Rate	-1.0pp $196	-0.5pp $149	base $100	+0.5pp $51	+1.0pp $1

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: $47,375
• Closing costs: $5,685
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
195 Sycamore Dr Athens, GA	1.0–3.0	1.0–2.0	909	$1,425	$1.57	15d	8	0.07mi
2505 W Broad St Athens, GA	2.0–3.0	2.0	1370	$2,300	$1.68	15d	5	0.10mi
195 Epps Bridge Rd Athens, GA	2.0	2.0	960	$1,365	$1.42	45d	1	0.34mi
150 Chateau Ter Athens, GA	1.0–3.0	1.0–2.0	970	$1,527	$1.57	15d	12	0.53mi
317 Epps Bridge Rd Athens, GA	2.0	1.0	1760	$1,250	$0.71	23d	1	0.71mi
315 Epps Bridge Rd Athens, GA	2.0	1.0	1760	$1,150	$0.65	23d	1	0.72mi
315 Epps Bridge Rd Unit 317 Athens, GA	2.0	1.0	880	$1,250	$1.42	23d	1	0.72mi
167 Windy Hill Ct Athens, GA	2.0	2.0	960	$1,500	$1.56	45d	1	0.72mi
1112 W Lake Dr Athens, GA	3.0	2.0	1298	$2,300	$1.77	45d	1	0.80mi
255 Ferncliff Dr Athens, GA	3.0	2.0	1215	$1,995	$1.64	23d	1	0.82mi
125 Wood Lake Dr #208 Athens, GA	3.0	2.0	1680	$1,700	$1.01	23d	1	0.85mi
160 Harold Dr Athens, GA	3.0	1.5	1366	$2,650	$1.94	23d	1	0.87mi
140 Windy Hill Pl Athens, GA	2.0	1.0	1750	$1,100	$0.63	45d	1	0.87mi
132 Wood Lake Dr Athens, GA	1.0–2.0	1.0–2.0	900	$1,625	$1.81	15d	6	0.93mi
130 Magnolia St Athens, GA	3.0	2.0	981	$2,000	$2.04	45d	1	1.05mi
260 Sherwood Dr Athens, GA	3.0	1.5	1186	$1,700	$1.43	45d	1	1.05mi
290 Sunset Dr Athens, GA	3.0	1.0	1152	$1,800	$1.56	45d	1	1.08mi
355 The Preserve Dr Athens, GA	1.0–3.0	1.0–2.0	1166	$2,010	$1.72	23d	3	1.19mi
220 Clover St Athens, GA	3.0	2.0	1020	$1,800	$1.76	45d	1	1.23mi
600 Mitchell Bridge Rd #1 Athens, GA	2.0	2.5	1275	$1,900	$1.49	45d	1	1.24mi
700 Mitchell Bridge Rd Athens, GA	1.0–2.0	1.0–2.0	1121	$1,537	$1.37	15d	7	1.28mi
48 Holman Ave Athens, GA	3.0	2.0	1850	$2,000	$1.08	15d	1	1.31mi
105 Westchester Dr Athens, GA	2.0	2.5	1206	$1,825	$1.51	45d	2	1.32mi
105 Westchester Dr Athens, GA	2.0	2.5	1206	$1,675	$1.39	15d	3	1.32mi
255 The Preserve Dr Athens, GA	1.0–4.0	1.0–4.0	1036	$1,126	$1.09	15d	7	1.35mi
205 Westchester Dr Athens, GA	1.0–3.0	1.0–2.0	1100	$1,505	$1.37	45d	1	1.36mi
1800 Timothy Rd Athens, GA	3.0	2.0	1116	$1,800	$1.61	45d	1	1.38mi
285 Willow Run Athens, GA	3.0	1.0	1025	$1,950	$1.90	45d	1	1.39mi
150 The Preserve Dr Athens, GA	2.0	2.5	1720	$2,076	$1.21	23d	2	1.41mi
150 The Preserve Dr Athens, GA	2.0	2.5	1720	$2,037	$1.18	15d	2	1.41mi
150 The Preserve Dr Unit 13A Athens, GA	2.0	2.5	1690	$1,795	$1.06	15d	1	1.41mi
150 The Preserve Dr Unit 9C Athens, GA	2.0	2.5	1501	$2,049	$1.37	23d	1	1.41mi
150 The Preserve Dr #1 Athens, GA	2.0	3.0	1856	$2,077	$1.12	23d	1	1.41mi

HOA detail condo

• Monthly dues: $180 · $2,160/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-04-06
   status Pending
2. 2026-02-09
   price $189,500
3. 2026-02-03
   listed $199,500 Active
4. 2024-12-23
   historical
5. 2024-11-29
   price $219,999
6. 2024-11-15
   price $229,900
7. 2024-11-07
   listed $239,999 Active
8. 2020-05-01
   soldstatus $73,000
9. 2020-04-30
   soldstatus $74,000 156-char remark

   Show marketing remark (156 chars)

   Great condo for the price! Lots of space in this 3 bedroom 2 bath unit. vinyl type flooring, vaulted great room and large bedrooms! On the city bus route!

10. 2020-03-28
    listed $75,900 156-char remark

    Show marketing remark (156 chars)

    Great condo for the price! Lots of space in this 3 bedroom 2 bath unit. vinyl type flooring, vaulted great room and large bedrooms! On the city bus route!

11. 2019-02-01
    soldstatus $60,000
12. 2018-11-01
    listed $68,000
13. 2015-12-16
    soldstatus $52,200
14. 2015-12-16
    soldstatus $52,200
15. 2015-08-14
    listed $56,500
16. 2014-06-05
    soldstatus $1,160,000
17. 2013-02-07
    soldstatus $27,000
18. 2013-02-07
    soldstatus $27,000
19. 2012-12-26
    listed $29,900
20. 2012-12-26
    listed $29,900
21. 2010-06-01
    historical
22. 2008-03-05
    listed $70,225
23. 2005-07-01
    soldstatus $61,850
24. 2005-07-01
    soldstatus $61,850
25. 2005-04-04
    listed $65,000

ⓘ 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: $1,784 · $149/mo
• Projected year-2 tax: $1,784 · $149/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $22,812
• − Mortgage interest: −$10,615
• − Property taxes: −$1,784
• − Insurance: −$948
• − Repairs & maintenance: −$1,825
• − Management: −$1,825
• − HOA: −$2,160
• − Depreciation: −$5,513
• Taxable loss: −$1,857
• Est. tax savings @ 24.0%: +$446
• After-tax cash flow: $1,651/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: Clarke County
• NCES district ID: 1301170
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $33,649
• Composite: 15.51/100
• National rank: #9302
• State rank: #146 of 174 in GA

Livability — Athens-Clarke County unified government (balance)

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

Census & demographics

• Census place: Athens-Clarke County unified government (balance), GA
• County: Clarke County · 126,008 people
• City population: 119,110
• Metro: Athens-Clarke County, GA
• Population (ZIP): 47,865
• Household income: $63,328
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3510.0

Population outlook (Clarke County) Hauer SSP2

• Today (2025): 141,365 people
• By 2030: 151,724 · +7.3%
• By 2040: 168,541 · +19.2%
• By 2050: 184,855 · +30.8%
• By 2075: 221,736 · +56.9%
• By 2100: 253,853 · +79.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Black 20% Hispanic / Latino 11% Two or more races 7% Asian 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 11% · Canada, China, Philippines
• Languages at home: 87% English-only · Spanish 7% Other Asian/Pacific 2% Chinese 1%

Political lean MEDSL · Clarke

• 2024 margin: Solid D (+38.3) · D 68.6% · R 30.4% · Other 1.0%
• 2008→2024 swing: +7.0pp toward D · 2008: 31.3pp · 2024: 38.3pp
• All cycles: 2024: D+38.3 2020: D+42.1 2016: D+38.0 2012: D+28.9 2008: D+31.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -454.63%
• Current HPI: 258.4817
• Rent YoY: ▲ 1.58%
• Metro: Athens-Clarke 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

+191.5% since first listed

25 events — show timeline

• 2026-04-06 Pending — FMLS
• 2026-02-09 Price Changed $189,500 FMLS
• 2026-02-03 Listed $199,500 FMLS
• 2024-12-23 Listing Removed — FMLS
• 2024-11-29 Price Changed $219,999 FMLS
• 2024-11-15 Price Changed $229,900 FMLS
• 2024-11-07 Listed $239,999 FMLS
• 2020-05-01 Sold (Public Records) $73,000 Public Records
• 2020-04-30 Sold (MLS) $74,000 Hive MLS
• 2020-03-28 Listed $75,900 Hive MLS
• 2019-02-01 Sold (MLS) $60,000 Hive MLS
• 2018-11-01 Listed $68,000 Hive MLS
• 2015-12-16 Sold (MLS) $52,200 GAMLS
• 2015-12-16 Sold (MLS) $52,200 FMLS
• 2015-08-14 Listed $56,500 FMLS
• 2014-06-05 Sold (Public Records) $1,160,000 Public Records
• 2013-02-07 Sold (MLS) $27,000 Hive MLS
• 2013-02-07 Sold (MLS) $27,000 GAMLS
• 2012-12-26 Listed $29,900 Hive MLS
• 2012-12-26 Listed $29,900 GAMLS
• 2010-06-01 Listing Removed — Hive MLS
• 2008-03-05 Listed $70,225 Hive MLS
• 2005-07-01 Sold (Public Records) $61,850 Public Records
• 2005-07-01 Sold (MLS) $61,850 Hive MLS
• 2005-04-04 Listed $65,000 Hive MLS

Property tax history

+15.5%/yr

Latest (2025): $1,784 · +0.8% YoY. Source: county tax records.