1508 N Van Buren St · Albany, GA 31701

$95,000

4 bd · 2.0 ba · 1,260 sqft · MultiFamily public records · 30 Days on market

Built 1951 3,485 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

Located in the heart of Albany, this charming property is packed with potential for both savvy investors and first-time home buyers alike! Whether you're looking to expand your rental portfolio, create an affordable starter home, or find a property with room to add value, this opportunity checks all the boxes. Featuring spacious living areas, solid bones, and a convenient location near shopping, schools, dining, and major roadways, this home offers the perfect blend of affordability and upside potential. Investors will appreciate the strong rental demand and value-add possibilities, while first-time buyers will love the chance to own instead of rent at an attainable price point. With a litt

Key facts

• Near schools
• Strong rental demand
• Near dining

Tags

• CONVENIENT LOCATION
• NEAR SHOPPING
• NEAR SCHOOLS
• NEAR DINING
• NEAR MAJOR ROADWAYS
• STRONG RENTAL DEMAND

Property features AI

Exterior

• Utilities: Sewer connected
• Home design: Detached single-family residence; 2 stories
• Construction: Brick construction; Slab foundation
• Exterior features: Metal roof

Interior

• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Interior features: Electric water heater; Laminate flooring

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.1% 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: crime F, amenities F, commute 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.
• Zoned schools: Northside Elementary School (math 8% / reading 8%, grade F, #1,125 of 1,228 statewide, top 93%, 337 students, 100% FRL); Albany Middle School (math 5% / reading 8%, grade F, #457 of 470 statewide, top 98%, 833 students, 100% FRL) — zoned schools average 100% FRL vs 79% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 177 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 45 units permitted in Dougherty County in 2024 (20 in 5+ unit buildings).
• At $1,457/mo this rent would consume 50% 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 $657 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 + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $42k; list at $95k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• 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 $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.53% ✓
• Cap rate: 13.12%
• Cash-on-cash: 24.37%
• DSCR: 2.08
• GRM: 5.4

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: 17.7%
• Equity multiple: 1.71×
• Total profit: $19,003
• Equity at exit: $14,165

10-year hold

• IRR: 26.1%
• Equity multiple: 3.29×
• Total profit: $60,823
• Equity at exit: $8,214

Cash invested: $26,600 (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 31701

• Home prices YoY: -27.3%
• Active inventory: 177
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,457 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$73 /mo · $877/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $540

Break-even live

Break-even rent $773

Max offer price $95,000

Occupancy floor 58%

Sensitivity live

Price	-10% $594	-5% $567	+0% $540	+5% $513	+10% $486
Rent	-10% $425	-5% $483	+0% $540	+5% $598	+10% $655
Rate	-1.0pp $588	-0.5pp $564	base $540	+0.5pp $516	+1.0pp $491

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,458
Total (2 units)			$1,457

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 9th Ave Albany, GA	3.0	1.0	1090	$1,000	$0.92	22d	1	0.85mi
612 Florence Dr Albany, GA	3.0	1.0	1428	$1,200	$0.84	22d	1	1.31mi

Listing history 20 events

1. 2026-06-22
   days on market $95,000 Active 30 DOM
2. 2026-06-19
   days on market $95,000 Active 28 DOM
3. 2026-06-18
   days on market $95,000 Active 27 DOM
4. 2026-06-17
   days on market $95,000 Active 26 DOM
5. 2026-06-16
   days on market $95,000 Active 25 DOM
6. 2026-06-15
   days on market $95,000 Active 24 DOM
7. 2026-06-14
   days on market $95,000 Active 22 DOM
8. 2026-06-13
   days on market $95,000 Active 21 DOM
9. 2026-06-10
   days on market $95,000 Active 19 DOM
10. 2026-06-09
    days on market $95,000 Active 18 DOM
11. 2026-06-08
    days on market $95,000 Active 17 DOM
12. 2026-06-07
    days on market $95,000 Active 16 DOM
13. 2026-06-05
    days on market $95,000 Active 13 DOM
14. 2026-06-02
    days on market $95,000 Active 11 DOM
15. 2026-06-01
    days on market $95,000 Active 10 DOM
16. 2026-05-31
    days on market $95,000 Active 9 DOM
17. 2026-05-30
    days on market $95,000 Active 8 DOM
18. 2026-05-22
    listed $95,000 Active
19. 2022-06-05
    price $435
20. 2022-05-05
    soldstatus $42,000

ⓘ 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: $877 · $73/mo
• Projected year-2 tax: $877 · $73/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 2/10 Low
• 🌡 Heat 7/10 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: $17,484
• − Mortgage interest: −$5,321
• − Property taxes: −$877
• − Insurance: −$475
• − Repairs & maintenance: −$1,399
• − Management: −$1,399
• − Depreciation: −$2,764
• Taxable income: $5,249
• Est. tax owed @ 24.0%: −$1,260
• After-tax cash flow: $5,222/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

+126.2% since first listed

3 events — show timeline

• 2026-05-22 Listed $95,000 SWGABOR
• 2022-06-05 Price Changed $435 RENT.
• 2022-05-05 Sold (Public Records) $42,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $877 · +6.1% YoY. Source: county tax records.