505 1st Ave · Augusta-Richmond County consolidated government (balance), GA 30904

$79,900

2 bd · 1.0 ba · 882 sqft · SingleFamily public records · 72 Days on market

Built 1926 4,791 sqft lot $91/sqft · 30% below area Est $114k · 30% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• 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

Listing remarks MLS

This classic 1920s bungalow in the desirable Wheeler Heights area of West Augusta offers a fantastic opportunity for those seeking historic charm or a high-potential investment. Featuring 2 bedrooms and 1 bath, this home showcases a traditional single-story layout with a functional living space and an eat-in kitchen. The interior character is complemented by a welcoming covered front porch, perfect for enjoying the quiet neighborhood atmosphere. Resting on a raised crawl space foundation, the home provides that quintessential Augusta aesthetic while offering easy access for maintenance and utility updates. The property sits on a manageable lot with a fenced backyard, providing a private outdoor space for pets or gardening without the burden of heavy yard work. Its location is unbeatable for those connected to the local community, situated just minutes from Augusta University's Summerville campus, the Medical District, and the shops and dining of Surrey Center. Whether you are looking for a cozy primary residence or a strategic rental property in a high-demand area, this West Augusta gem is ready for its next chapter.

Key facts

• 4,791 sq ft lot
• Built 1926
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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.
• Market conditions: Rents rising fast (+4.3%/yr); 227 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 49% of comp listings sitting > 30 days — soft ceiling on asking rent; 561 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $15k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $34k; list at $80k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.44% ✓
• Cap rate: 11.68%
• Cash-on-cash: 19.24%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

• ARV (median comp): $113,947
• List price: $79,900
• Delta: -29.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
506 Weed St	0.26mi	2/1.0	912 (+3%)	4mo	$108,000	$118	79
2514 Porter St	0.19mi	2/1.0	875 (-1%)	17mo	$33,000	$38	76
2615 Hazel St	0.23mi	2/1.0	942 (+7%)	9mo	$148,000	$157	71
504 2nd Ave	0.04mi	3/2.0 (+1)	864 (-2%)	24mo	$130,000	$150	66
512 Downing St	0.41mi	2/1.0	840 (-5%)	16mo	$70,000	$83	60
2438 N View Ave	0.37mi	2/1.0	968 (+10%)	11mo	$145,900	$151	57
508 Fleming Ave Ave	0.13mi	2/1.0	975 (+10%)	23mo	$13,000	$13	57
542 Boy Scout Rd	0.59mi	2/1.0	900 (+2%)	16mo	$56,000	$62	56
2723 Magnolia Ave	0.44mi	2/2.0	759 (-14%)	5mo	$116,500	$153	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 12.6%
• Equity multiple: 1.51×
• Total profit: $11,417
• Equity at exit: $11,913

10-year hold

• IRR: 22.5%
• Equity multiple: 3.05×
• Total profit: $45,768
• Equity at exit: $6,908

Cash invested: $22,372 (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: 227
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,148 high
• Mortgage (P&I): −$419
• Tax from tax record: −$96 /mo · $1,148/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $359

Break-even live

Break-even rent $694

Max offer price $79,900

Occupancy floor 64%

Sensitivity live

Price	-10% $404	-5% $381	+0% $359	+5% $336	+10% $313
Rent	-10% $268	-5% $313	+0% $359	+5% $404	+10% $449
Rate	-1.0pp $399	-0.5pp $379	base $359	+0.5pp $338	+1.0pp $317

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2846 Walton Way #11 Augusta, GA	2.0	2.0	1068	$1,200	$1.12	44d	1	0.84mi
501 Milledge Rd Augusta, GA	2.0	1.0	1008	$1,098	$1.09	15d	2	0.86mi
2476 McDowell St Augusta, GA	2.0	1.5	1000	$2,500	$2.50	15d	1	0.86mi
2812 Joy Rd Augusta, GA	2.0	1.5	1010	$1,100	$1.09	44d	5	0.90mi
2419 Central Ave Augusta, GA	1.0	1.0	700	$800	$1.14	45d	1	0.95mi
2222 Queens Way Augusta, GA	1.0	1.0	750	$725	$0.97	44d	1	1.00mi
2222 Queens Way Augusta, GA	1.0	1.0	750	$725	$0.97	24d	1	1.00mi
1530 Whitney St Unit A Augusta, GA	2.0	1.0	960	$925	$0.96	44d	1	1.04mi
1529 Craig St Augusta, GA	1.0	1.0	800	$825	$1.03	24d	1	1.06mi
2165 1/2 Telfair St Augusta, GA	2.0	1.0	825	$800	$0.97	15d	1	1.08mi
2165 Telfair St Unit A Augusta, GA	2.0	1.0	825	$850	$1.03	44d	1	1.09mi
2165 Telfair St Unit B Augusta, GA	2.0	1.0	825	$800	$0.97	15d	1	1.09mi
2097 Heckle St Unit B Augusta, GA	1.0	1.0	700	$1,095	$1.56	15d	1	1.12mi
1110 Troupe St Augusta, GA	2.0	1.0	1035	$1,100	$1.06	24d	1	1.12mi
1112 Troupe St Augusta, GA	2.0	1.0	1035	$1,100	$1.06	24d	1	1.13mi
2407 Wrightsboro Rd Unit C Augusta, GA	1.0	1.0	650	$1,100	$1.69	22d	1	1.13mi
936 Hickman Rd Unit 3 Augusta, GA	2.0	2.0	875	$1,195	$1.37	15d	1	1.14mi
936 Hickman Rd Unit 7 Augusta, GA	1.0	1.0	600	$995	$1.66	44d	1	1.14mi
938 Hickman Rd Unit 6 Augusta, GA	1.0	1.0	550	$875	$1.59	44d	1	1.15mi
938 Hickman Rd Unit 8 Augusta, GA	1.0	1.0	600	$995	$1.66	15d	1	1.15mi
930 Hickman Rd Unit F Augusta, GA	1.0	1.0	600	$995	$1.66	44d	1	1.15mi
930 Hickman Rd Unit C Augusta, GA	1.0	1.0	600	$950	$1.58	15d	1	1.15mi
531 Tubman St Augusta, GA	2.0	1.0	864	$1,250	$1.45	44d	1	1.17mi
2198 Central Ave Unit D Augusta, GA	2.0	1.0	900	$950	$1.06	24d	1	1.18mi
1510 Stovall St Augusta, GA	1.0	1.0	775	$1,450	$1.87	15d	1	1.24mi
1512 Stovall St Unit B Augusta, GA	1.0	1.0	700	$1,395	$1.99	24d	1	1.25mi
2028 Battle Row Augusta, GA	2.0	2.0	1100	$1,650	$1.50	44d	1	1.26mi
1526 Heath St Augusta, GA	2.0	1.0	900	$1,250	$1.39	44d	1	1.29mi
1545 Heath St Augusta, GA	2.0	1.0	832	$650	$0.78	45d	1	1.37mi
1545 Heath St Unit B Augusta, GA	2.0	1.0	832	$650	$0.78	44d	1	1.37mi
1600 Johns Rd Unit A Augusta, GA	1.0	1.0	625	$845	$1.35	44d	1	1.45mi
1600 Johns Rd Unit B Augusta, GA	2.0	1.0	660	$835	$1.27	24d	1	1.45mi
1600 Johns Rd Apt F Augusta, GA	1.0	1.0	540	$750	$1.39	24d	1	1.45mi
1946 Greene St Augusta, GA	3.0	1.0	952	$1,350	$1.42	15d	1	1.46mi
1604 Johns Rd Unit F Augusta, GA	1.0	1.0	625	$825	$1.32	44d	1	1.48mi
1604 Johns Rd Unit A Augusta, GA	1.0	1.0	625	$845	$1.35	44d	1	1.48mi
2016 Central Ave Unit A Augusta, GA	1.0	1.0	900	$1,000	$1.11	24d	1	1.48mi
2221 Archer LN Augusta, GA	2.0	2.0	1103	$1,495	$1.36	44d	1	1.48mi
2219 Archer Augusta, GA	2.0	2.0	1103	$1,495	$1.36	44d	1	1.49mi

Listing history 26 events

1. 2026-06-21
   days on market $79,900 Active 72 DOM
2. 2026-06-18
   days on market $79,900 Active 69 DOM
3. 2026-06-17
   days on market $79,900 Active 68 DOM
4. 2026-06-16
   days on market $79,900 Active 67 DOM
5. 2026-06-15
   days on market $79,900 Active 66 DOM
6. 2026-06-14
   days on market $79,900 Active 64 DOM
7. 2026-06-10
   days on market $79,900 Active 61 DOM
8. 2026-06-09
   days on market $79,900 Active 60 DOM
9. 2026-06-08
   statusdays on market $79,900 Active 59 DOM
10. 2026-06-07
    pricestatusdays on market $79,900 Price Change 58 DOM
11. 2026-06-03
    days on market $89,900 Active 54 DOM
12. 2026-06-02
    days on market $89,900 Active 53 DOM
13. 2026-06-01
    days on market $89,900 Active 52 DOM
14. 2026-05-31
    days on market $89,900 Active 51 DOM
15. 2026-05-30
    days on market $89,900 Active 50 DOM
16. 2026-05-14
    price $89,900 1137-char remark

    Show marketing remark (1137 chars)

    This classic 1920s bungalow in the desirable Wheeler Heights area of West Augusta offers a fantastic opportunity for those seeking historic charm or a high-potential investment. Featuring 2 bedrooms and 1 bath, this home showcases a traditional single-story layout with a functional living space and an eat-in kitchen. The interior character is complemented by a welcoming covered front porch, perfect for enjoying the quiet neighborhood atmosphere. Resting on a raised crawl space foundation, the home provides that quintessential Augusta aesthetic while offering easy access for maintenance and utility updates. The property sits on a manageable lot with a fenced backyard, providing a private outdoor space for pets or gardening without the burden of heavy yard work. Its location is unbeatable for those connected to the local community, situated just minutes from Augusta University's Summerville campus, the Medical District, and the shops and dining of Surrey Center. Whether you are looking for a cozy primary residence or a strategic rental property in a high-demand area, this West Augusta gem is ready for its next chapter.

17. 2026-04-10
    listed $94,900 New 1137-char remark

    Show marketing remark (1137 chars)

    This classic 1920s bungalow in the desirable Wheeler Heights area of West Augusta offers a fantastic opportunity for those seeking historic charm or a high-potential investment. Featuring 2 bedrooms and 1 bath, this home showcases a traditional single-story layout with a functional living space and an eat-in kitchen. The interior character is complemented by a welcoming covered front porch, perfect for enjoying the quiet neighborhood atmosphere. Resting on a raised crawl space foundation, the home provides that quintessential Augusta aesthetic while offering easy access for maintenance and utility updates. The property sits on a manageable lot with a fenced backyard, providing a private outdoor space for pets or gardening without the burden of heavy yard work. Its location is unbeatable for those connected to the local community, situated just minutes from Augusta University's Summerville campus, the Medical District, and the shops and dining of Surrey Center. Whether you are looking for a cozy primary residence or a strategic rental property in a high-demand area, this West Augusta gem is ready for its next chapter.

18. 2021-06-30
    soldstatus $34,000 110-char remark

    Show marketing remark (110 chars)

    2 Bedroom / 1 Bathroom Ranch Style home in Wheeler Heights subdivision. Sold as is with no seller disclosures.

19. 2021-06-30
    soldstatus $34,000

    Show marketing remark (110 chars)

    2 Bedroom / 1 Bathroom Ranch Style home in Wheeler Heights subdivision. Sold as is with no seller disclosures.

20. 2021-05-24
    listed $40,000 110-char remark

    Show marketing remark (110 chars)

    2 Bedroom / 1 Bathroom Ranch Style home in Wheeler Heights subdivision. Sold as is with no seller disclosures.

21. 2021-05-24
    listed $40,000

    Show marketing remark (110 chars)

    2 Bedroom / 1 Bathroom Ranch Style home in Wheeler Heights subdivision. Sold as is with no seller disclosures.

22. 2017-06-09
    soldstatus $17,000
23. 2017-06-09
    soldstatus $17,000
24. 2015-11-02
    listed $25,000
25. 2015-11-02
    listed $25,000
26. 1989-05-01
    soldstatus $11,000

ⓘ 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: $1,148 · $96/mo
• Projected year-2 tax: $1,148 · $96/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 1/10 Low
• 🌡 Heat 7/10 Severe 6 d/yr ≥106°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% 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: $13,771
• − Mortgage interest: −$4,476
• − Property taxes: −$1,148
• − Insurance: −$400
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$2,324
• Taxable income: $3,220
• Est. tax owed @ 24.0%: −$773
• After-tax cash flow: $3,531/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

+717.3% since first listed

11 events — show timeline

• 2026-05-14 Price Changed $89,900 GAMLS
• 2026-04-10 Listed $94,900 GAMLS
• 2021-06-30 Sold (MLS) $34,000 Hive MLS
• 2021-06-30 Sold (MLS) $34,000 Hive MLS
• 2021-05-24 Listed $40,000 Hive MLS
• 2021-05-24 Listed $40,000 Hive MLS
• 2017-06-09 Sold (MLS) $17,000 Hive MLS
• 2017-06-09 Sold (MLS) $17,000 Hive MLS
• 2015-11-02 Listed $25,000 Hive MLS
• 2015-11-02 Listed $25,000 Hive MLS
• 1989-05-01 Sold (Public Records) $11,000 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,148 · +19.3% YoY. Source: county tax records.