105 Bell Ave SE · Milledgeville, GA 31061

$51,999

3 bd · 1.0 ba · 1,133 sqft · SingleFamily public records · 182 Days on market

Built 1948 0.35 ac lot $46/sqft · 39% below area Est $85k · 39% under ↓ 26% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A great opportunity to create a lovely cottage style living space. The house has a large front porch and a large back porch. A blank canvas inside that can become whatever you what it to be. Owner is ready to sell.

Key facts

• Large front porch
• Large back porch
• 0.35 acre lot

Tags

• LARGE FRONT PORCH
• LARGE BACK PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $52k.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• Recommended offer: $46k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.0% vs local median 2.9% in Milledgeville — 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 68/100 on livability (#134 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities D+, schools F, crime F.
• Baldwin County (town): math 13% / reading 20% proficiency, ranked #152 of 174 in GA (top 87%) — 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 (+4.0%/yr); 375 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 202 units permitted in Baldwin County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $359 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Baldwin County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($46k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,759 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.48% ✓
• Cap rate: 21.97%
• Cash-on-cash: 55.99%
• DSCR: 3.49
• GRM: 3.4

CMA / ARV

• ARV (median comp): $85,201
• List price: $51,999
• Delta: -38.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1271 Twin Pine Rd	0.22mi	2/2.0 (-1)	1,132 (-0%)	11mo	$135,000	$119	72
300 Cline Ave	0.30mi	3/2.0	1,152 (+2%)	11mo	$124,000	$108	70
144 Bell Ave SE	0.22mi	3/1.0	1,248 (+10%)	5mo	$38,000	$30	69
201 Magnolia Cir SE	0.54mi	3/1.0	1,116 (-2%)	10mo	$131,000	$117	64
100 Oak Ave	0.56mi	3/1.0	1,194 (+5%)	3mo	$116,000	$97	62
163 Swint Ave	0.45mi	3/1.0	1,260 (+11%)	17mo	$21,000	$17	46
216 Oakdale Rd	0.72mi	3/1.0	1,250 (+10%)	13mo	$147,500	$118	39

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 · 4.05% rent growth · sell at horizon

5-year hold

• IRR: 55.5%
• Equity multiple: 3.49×
• Total profit: $36,220
• Equity at exit: $7,753

10-year hold

• IRR: 60.9%
• Equity multiple: 7.39×
• Total profit: $93,044
• Equity at exit: $4,496

Cash invested: $14,560 (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 31061

• Home prices YoY: -29.9%
• Rents YoY: 4.0%
• Active inventory: 375
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,289 high
• Mortgage (P&I): −$273
• Tax from tax record: −$45 /mo · $534/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $679

Break-even live

Break-even rent $429

Max offer price $51,999

Occupancy floor 42%

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 S Wilkinson St Milledgeville, GA	2.0	2.0	800	$900	$1.12	43d	1	0.86mi
399 Allen Memorial Dr SW Milledgeville, GA	2.0	1.0	1209	$1,300	$1.08	43d	1	0.93mi
180 Carter Pl SW Milledgeville, GA	3.0	2.0	1024	$1,125	$1.10	43d	1	0.96mi
450 W Franklin St Milledgeville, GA	2.0	1.0	800	$995	$1.24	43d	1	1.14mi
205 Ivey Dr SW Milledgeville, GA	2.0	2.0	1171	$1,299	$1.11	43d	1	1.41mi
241 S Irwin St Unit 62Unit 62 Milledgeville, GA	3.0	3.0	1470	$1,450	$0.99	43d	1	1.46mi

Listing history 2 events

1. 2026-03-11
   price $51,999 214-char remark

   Show marketing remark (214 chars)

   A great opportunity to create a lovely cottage style living space. The house has a large front porch and a large back porch. A blank canvas inside that can become whatever you what it to be. Owner is ready to sell.

2. 2025-11-23
   listed $70,000 New 214-char remark

   Show marketing remark (214 chars)

   A great opportunity to create a lovely cottage style living space. The house has a large front porch and a large back porch. A blank canvas inside that can become whatever you what it to be. Owner is ready to sell.

ⓘ 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: $534 · $45/mo
• Projected year-2 tax: $534 · $45/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 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,466
• − Mortgage interest: −$2,913
• − Property taxes: −$534
• − Insurance: −$260
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − Depreciation: −$1,513
• Taxable income: $7,771
• Est. tax owed @ 24.0%: −$1,865
• After-tax cash flow: $6,286/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: Baldwin County
• NCES district ID: 1300210
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 20% ▼ -5.00%
• Median HH income: $35,615
• Composite: 13.61/100
• National rank: #9508
• State rank: #152 of 174 in GA

Livability — Milledgeville

• Score: 68/100
• State rank: #134
• US rank: #9206

Category grades

Amenities D+ Commute F Cost of living A+ Crime F Employment F Housing A- Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Baldwin County · 41,764 people
• City population: 41,764
• Metro: Milledgeville, GA
• Population (ZIP): 41,764
• Household income: $54,263
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1630.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 45,602 people
• By 2030: 45,481 · -0.3%
• By 2040: 44,310 · -2.8%
• By 2050: 42,129 · -7.6%
• By 2075: 36,819 · -19.3%
• By 2100: 29,320 · -35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 51% Black 43% Hispanic / Latino 3% Two or more races 3% Asian 2%
• Common ancestry: Slovak 1% Serbian 1% Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Baldwin

• 2024 margin: Toss-up / Even · D 48.6% · R 50.9%
• 2008→2024 swing: -6.8pp toward R · 2008: 4.6pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+1.3 2016: D+1.7 2012: D+5.5 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.16%
• Current HPI: 241.3758
• Rent YoY: ▲ 4.05%
• Metro: Milledgeville, 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

-25.7% since first listed

2 events — show timeline

• 2026-03-11 Price Changed $51,999 GAMLS
• 2025-11-23 Listed $70,000 GAMLS

Property tax history

+6.5%/yr

Latest (2025): $534 · -2.5% YoY. Source: county tax records.