2037 Stuart Ave · Albany, GA 31707

$84,000

2 bd · 2.0 ba · 1,295 sqft · MultiFamily public records · 17 Days on market

Built 1991 5,227 sqft lot ↓ 11% since listing

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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
• Rent growth +4.8/5.0
• Livability +3.0/5.0
• 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

LARGE OPRN SPACE WITH A LIVING ROOM AND A KITCHEN, STORAGE, 2 BEDROOMS 2 BATHS. SOLD AS IS. THIS PROPERTY MAY QUALIFY FOR SELLER FINANCING ( VENDEE) IF PROPERTY WAS BUILT PRIOR TO 1978, LEAD BASED PAINT POTENTIALLY EXISTS.

Key facts

• 5,227 sq ft lot
• Built 1991
• Listed 16 days

Property features AI

Finance

• HOA & community: No community amenities listed

Exterior

• Parking: Paved parking; No garage
• Security: Smoke detectors
• Home design: Single family residence; One level
• Construction: Brick construction
• Exterior features: Patio; Landscaped lot; Other lot features

Interior

• Kitchen: Dishwasher
• Bathrooms: 2 full bathrooms
• Interior features: Dishwasher; No fireplace
• Laundry & utility: Outdoor laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $84k.

Deal economics

• At list price, monthly cash flow is $807 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $84k).
• Recommended offer: $83k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.8% 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: Rents rising fast (+9.4%/yr); 184 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 45 units permitted in Dougherty County in 2024 (20 in 5+ unit buildings).
• This rent runs 43% of the median local income ($51k/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 $581 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($83k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $82,740 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 2.18% ✓
• Cap rate: 17.82%
• Cash-on-cash: 41.18%
• DSCR: 2.83
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 43.5%
• Equity multiple: 3.02×
• Total profit: $47,515
• Equity at exit: $12,525

10-year hold

• IRR: 51.9%
• Equity multiple: 7.45×
• Total profit: $151,787
• 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 31707

• Rents YoY: 9.4%
• Active inventory: 184
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,828 medium
• Mortgage (P&I): −$441
• Tax from tax record: −$162 /mo · $1,938/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $807

Break-even live

Break-even rent $806

Max offer price $84,000

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$1,828
Total (2 units)			$1,828

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 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3315 Sylvester Rd Unit 63 Albany, GA	3.0	2.0	1024	$900	$0.88	21d	1	0.18mi
1905 Elkhorn Ln Unit B Albany, GA	2.0	1.5	1100	$1,000	$0.91	21d	1	0.27mi
2510 Barnesdale Way Unit 4 Albany, GA	2.0	2.0	1081	$1,175	$1.09	21d	1	0.31mi
1900 Buck Ln Albany, GA	3.0	2.5	1280	$1,195	$0.93	21d	1	0.32mi
2502 Redwood Ct Albany, GA	2.0	1.5	1120	$900	$0.80	21d	1	0.59mi
2001 Dawson Rd Albany, GA	1.0–3.0	1.0–1.5	952	$888	$0.93	21d	7	0.87mi
2415 Dawson Rd Albany, GA	1.0–3.0	1.0–2.0	987	$858	$0.87	21d	1	0.89mi
1314 9th Ave Albany, GA	3.0	1.0	1090	$1,000	$0.92	21d	1	1.22mi
914 20th Ave Albany, GA	2.0	1.0	988	$815	$0.82	43d	1	1.29mi
2607 Cardinal St Albany, GA	2.0	1.0	900	$850	$0.94	21d	1	1.33mi
1906 Robinhood Rd Albany, GA	3.0	2.0	1845	$1,600	$0.87	21d	1	1.41mi

Listing history 14 events

1. 2026-06-19
   days on market $84,000 Active 17 DOM
2. 2026-06-18
   days on market $84,000 Active 16 DOM
3. 2026-06-17
   days on market $84,000 Active 15 DOM
4. 2026-06-16
   days on market $84,000 Active 14 DOM
5. 2026-06-15
   days on market $84,000 Active 13 DOM
6. 2026-06-14
   days on market $84,000 Active 11 DOM
7. 2026-06-13
   days on market $84,000 Active 10 DOM
8. 2026-06-10
   days on market $84,000 Active 8 DOM
9. 2026-06-09
   days on market $84,000 Active 7 DOM
10. 2026-06-08
    days on market $84,000 Active 6 DOM
11. 2026-06-07
    days on market $84,000 Active 5 DOM
12. 2026-06-05
    days on market $84,000 Active 2 DOM
13. 2026-06-03
    remarks 222-char remark
14. 2026-06-03
    listed $84,000 Active 1 DOM

ⓘ 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: $1,938 · $162/mo
• Projected year-2 tax: $1,938 · $162/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 D · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°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: $21,936
• − Mortgage interest: −$4,705
• − Property taxes: −$1,938
• − Insurance: −$420
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − Depreciation: −$2,444
• Taxable income: $8,919
• Est. tax owed @ 24.0%: −$2,141
• After-tax cash flow: $7,544/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): 22,679
• Household income: $50,862
• Rent vs Own: 57.3% rent · 42.7% own
• Severe rent burden: 1572.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 31% Two or more races 3% Hispanic / Latino 3% Asian 1%
• Common ancestry: Serbian 1% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 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: ▼ -130.86%
• Current HPI: 173.4443
• Rent YoY: ▲ 9.39%
• 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

-11.5% since first listed

2 events — show timeline

• 2026-06-02 Listed $84,000 CABOR
• 2005-01-18 Sold (Public Records) $94,900 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,938 · +6.1% YoY. Source: county tax records.