3523 Morgan Rd · Augusta-Richmond County consolidated government (balance), GA 30815

$140,000

3 bd · 2.0 ba · 1,375 sqft · SingleFamily public records · 20 Days on market

Built 1985 0.46 ac lot Est $197k · 29% under

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Why this score? — see what drove the C+ 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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD home sold as is, www. bestassets.net for bid info. FHA Insurable w/ escrow of $3710. on this home. Accessible with HUD key. FHA#101-928086

Key facts

• 0.46 acre lot
• Garage
• Built 1985

Property features AI

Finance

• Other: Property condition: resale; Approximate lot size 0.46 acres
• HOA & community: No HOA; No association fees

Exterior

• Parking: Attached garage / parking
• Utilities: Public water; Septic tank sewer; Other utilities
• Home design: Single-family residence; Residential property; Built in 1985; One story
• Construction: Built in 1985; Composition roof; Other construction materials
• Exterior features: Composition roof; Other construction materials; Lot features listed as other

Interior

• Kitchen: Other appliances
• Bedrooms: 3 bedrooms on the main level
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One-level layout; Fireplace (1); Other interior features
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 C — 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.
• Zoned schools: Glenn Hills Middle School (math 2% / reading 6%, grade F, #467 of 470 statewide, top 99%, 762 students, 98% FRL); Glenn Hills High School (math 2% / reading 2%, grade F, #421 of 424 statewide, top 100%, 883 students, 98% FRL) — zoned schools average 98% FRL vs 72% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 3% at this address vs 16% district-wide (-13 pts) — the specific schools serving this property underperform the Richmond County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.7%/yr); 359 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $968 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $53k; list at $140k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% 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 $137,900 (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. 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.
3. 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.
4. 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: 1.12% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.34%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $196,625
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3503 Edgeworth Dr	0.33mi	3/2.0	1,350 (-2%)	5mo	$179,900	$133	77
3627 Pebble Creek Dr	0.34mi	3/2.0	1,296 (-6%)	2mo	$226,000	$174	73
3629 Pebble Creek Dr	0.33mi	3/2.0	1,296 (-6%)	3mo	$222,000	$171	72
3409 Saddle Horn Run	0.33mi	3/2.0	1,436 (+4%)	6mo	$169,900	$118	72
4105 Darsey Ct	0.28mi	3/2.0	1,250 (-9%)	1mo	$210,000	$168	71
4004 Rambling Way	0.26mi	3/2.0	1,221 (-11%)	6mo	$212,500	$174	65
3623 Pebble Creek Dr	0.36mi	3/2.0	1,221 (-11%)	2mo	$217,000	$178	63
3332 Saddlebrook Dr Dr	0.50mi	3/2.0	1,460 (+6%)	4mo	$169,500	$116	63
3326 Saddlebrook Dr	0.52mi	3/2.0	1,257 (-9%)	7mo	$147,000	$117	56
2818 Cranbrook Dr	0.51mi	3/2.0	1,227 (-11%)	6mo	$175,000	$143	53
3018 Shady Ln	0.67mi	3/2.0	1,234 (-10%)	1mo	$169,000	$137	51
2912 Butler Manor Dr	0.74mi	3/1.5	1,274 (-7%)	5mo	$80,000	$63	47

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.75×
• Total profit: $-9,888
• Equity at exit: $20,874

10-year hold

• IRR: -1.7%
• Equity multiple: 0.90×
• Total profit: $-3,873
• Equity at exit: $12,105

Cash invested: $39,200 (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 30815

• Home prices YoY: -24.2%
• Rents YoY: -0.7%
• Active inventory: 359
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,562 high
• Mortgage (P&I): −$734
• Tax from tax record: −$169 /mo · $2,030/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $273

Break-even live

Break-even rent $1,217

Max offer price $140,000

Occupancy floor 78%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2817 Ridgecrest Dr Hephzibah, GA	4.0	2.0	1257	$1,495	$1.19	43d	1	0.22mi
3524 Edgeworth Dr Hephzibah, GA	3.0	2.0	1200	$1,295	$1.08	23d	1	0.27mi
3543 Windermere Dr Hephzibah, GA	4.0	2.0	1394	$1,550	$1.11	23d	1	0.41mi
3543 Windermere Dr Hephzibah, GA	4.0	2.0	1394	$1,550	$1.11	43d	1	0.41mi
2834 Brentway Dr Hephzibah, GA	3.0	2.0	1475	$1,600	$1.08	43d	1	0.49mi
1010 Horizon Ridge Dr Hephzibah, GA	1.0–3.0	1.0–2.0	936	$1,196	$1.28	13d	1	0.60mi
2803 Ptarmigan Rd Hephzibah, GA	3.0	2.0	1377	$1,600	$1.16	23d	1	0.66mi
2803 Ptarmigan Rd Hephzibah, GA	3.0	2.0	1400	$1,600	$1.14	43d	1	0.66mi
2727 Barclay St Hephzibah, GA	4.0	2.0	1430	$1,234	$0.86	43d	1	0.84mi
2704 Cranbrook Dr Hephzibah, GA	3.0	2.0	1377	$1,650	$1.20	43d	1	0.95mi
2813 Leawood Ct Hephzibah, GA	3.0	2.0	1377	$1,250	$0.91	43d	1	1.02mi
3032 Tobacco Rd Hephzibah, GA	2.0	1.0	960	$1,315	$1.37	23d	1	1.12mi
2604 Edmonton Ct Hephzibah, GA	3.0	2.0	1343	$1,190	$0.89	13d	1	1.17mi
3532 Edmonton St Hephzibah, GA	3.0	2.0	1377	$1,425	$1.03	43d	1	1.19mi
3532 Edmonton St Hephzibah, GA	3.0	2.0	1377	$1,425	$1.03	23d	1	1.19mi
3613 Alene Cir Augusta, GA	3.0	2.0	1260	$1,325	$1.05	13d	1	1.34mi
3883 Crest Dr Hephzibah, GA	3.0	2.0	1380	$3,600	$2.61	13d	1	1.37mi
3001 Alene Ct Augusta, GA	4.0	2.0	1288	$1,631	$1.27	23d	1	1.39mi
3881 Crest Dr Hephzibah, GA	3.0	2.0	1400	$1,595	$1.14	13d	1	1.39mi
2614 Andorra Dr Hephzibah, GA	3.0	2.0	1622	$1,395	$0.86	43d	1	1.41mi

Listing history 15 events

1. 2026-06-18
   days on market $140,000 Active 20 DOM
2. 2026-06-17
   days on market $140,000 Active 19 DOM
3. 2026-06-16
   days on market $140,000 Active 18 DOM
4. 2026-06-15
   days on market $140,000 Active 17 DOM
5. 2026-06-14
   statusdays on market $140,000 Active 15 DOM
6. 2026-06-10
   days on market $140,000 New 12 DOM
7. 2026-06-09
   days on market $140,000 New 11 DOM
8. 2026-06-08
   days on market $140,000 New 10 DOM
9. 2026-06-07
   days on market $140,000 New 9 DOM
10. 2026-06-03
    days on market $140,000 New 5 DOM
11. 2026-06-02
    days on market $140,000 New 4 DOM
12. 2026-06-01
    days on market $140,000 New 3 DOM
13. 2026-05-31
    days on market $140,000 New 2 DOM
14. 2026-05-30
    remarks 462-char remark
15. 2026-05-30
    listed $140,000 New 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: $2,030 · $169/mo
• Projected year-2 tax: $2,030 · $169/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,747
• − Mortgage interest: −$7,842
• − Property taxes: −$2,030
• − Insurance: −$700
• − Repairs & maintenance: −$1,500
• − Management: −$1,500
• − Depreciation: −$4,073
• Taxable income: $1,103
• Est. tax owed @ 24.0%: −$265
• After-tax cash flow: $3,006/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): 44,109
• Household income: $70,202
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 867.0

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: Majority Black (62%)
• Race & ethnicity: Black 62% White 27% Two or more races 5% Hispanic / Latino 4%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -51.74%
• Current HPI: 162.4074
• Rent YoY: ▼ -0.71%
• 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

+141.4% since first listed

11 events — show timeline

• 2026-05-29 Listed $140,000 GAMLS
• 2026-02-13 Price Changed $58,000 Hive MLS
• 2021-02-10 Sold (MLS) $53,380 Hive MLS
• 2020-10-23 Listed $1,250,000 Hive MLS
• 2010-08-05 Sold (MLS) $36,000 Hive MLS
• 2010-08-05 Sold (MLS) $36,000 Hive MLS
• 2010-06-01 Listed $42,000 Hive MLS
• 2010-06-01 Listed $42,000 Hive MLS
• 2003-09-22 Sold (MLS) $53,380 Hive MLS
• 2003-09-22 Sold (MLS) $53,380 Hive MLS
• 2003-06-06 Listed $58,000 Hive MLS

Property tax history

+4.1%/yr

Latest (2025): $2,030 · +8.0% YoY. Source: county tax records.