986 Alston St · Richland, GA 31825

$119,900

3 bd · 2.0 ba · 1,847 sqft · SingleFamily public records · 130 Days on market

Built 1920 0.48 ac lot $65/sqft · 31% above area Est $91k · 31% over

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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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Built in 1920, this charming corner lot bungalow boasts three spacious bedrooms, two full bathrooms, a bonus room, and a formal dining room. Nestled in the heart of Downtown Richland, just thirty minutes from Fort Benning, this historic home presents a rare chance for investors to transform a piece of the past into thriving present! Whether you envision a cozy retreat or a profitable resale, this property offers a unique blend of character and potential! Don't miss out, schedule a private showing with your Realtor today!

Key facts

• 0.48 acre lot
• Listed 130 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#410 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Stewart County (rural): math 35% / reading 26% proficiency, ranked #141 of 187 in GA (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 12 active listings in the ZIP; 2 units permitted in Stewart County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($829 loan paydown + $4k appreciation (3.0% local appreciation)).
• Stewart County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $16k; list at $120k implies a 642% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 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 1920 — 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. 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.
7. 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.
8. 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: 1.18% ✓
• Cap rate: 10.31%
• Cash-on-cash: 14.36%
• DSCR: 1.64
• GRM: 7.0

CMA / ARV

• ARV (median comp): $91,419
• List price: $119,900
• Delta: 31.15%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Clements St	0.37mi	3/2.0	1,626 (-12%)	20mo	$106,500	$65	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 2.19×
• Total profit: $39,993
• Equity at exit: $53,912

10-year hold

• IRR: 22.0%
• Equity multiple: 4.17×
• Total profit: $106,458
• Equity at exit: $83,085

Cash invested: $33,572 (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 31825

• Active inventory: 12
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,421 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$42 /mo · $500/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $402

Break-even live

Break-even rent $912

Max offer price $119,900

Occupancy floor 67%

Sensitivity live

Price	-10% $470	-5% $436	+0% $402	+5% $368	+10% $334
Rent	-10% $290	-5% $346	+0% $402	+5% $458	+10% $514
Rate	-1.0pp $462	-0.5pp $432	base $402	+0.5pp $371	+1.0pp $339

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $119,900 Active 130 DOM
2. 2026-06-17
   days on market $119,900 Active 129 DOM
3. 2026-06-16
   days on market $119,900 Active 128 DOM
4. 2026-06-15
   days on market $119,900 Active 127 DOM
5. 2026-06-14
   days on market $119,900 Active 125 DOM
6. 2026-06-13
   days on market $119,900 Active 124 DOM
7. 2026-06-10
   days on market $119,900 Active 122 DOM
8. 2026-06-09
   days on market $119,900 Active 121 DOM
9. 2026-06-08
   days on market $119,900 Active 120 DOM
10. 2026-06-07
    days on market $119,900 Active 119 DOM
11. 2026-06-02
    days on market $119,900 Active 114 DOM
12. 2026-06-01
    days on market $119,900 Active 113 DOM
13. 2026-05-31
    days on market $119,900 Active 112 DOM
14. 2026-05-30
    days on market $119,900 Active 111 DOM
15. 2026-02-08
    listed $119,900 Active 527-char remark

    Show marketing remark (527 chars)

    Built in 1920, this charming corner lot bungalow boasts three spacious bedrooms, two full bathrooms, a bonus room, and a formal dining room. Nestled in the heart of Downtown Richland, just thirty minutes from Fort Benning, this historic home presents a rare chance for investors to transform a piece of the past into thriving present! Whether you envision a cozy retreat or a profitable resale, this property offers a unique blend of character and potential! Don't miss out, schedule a private showing with your Realtor today!

16. 2012-10-10
    soldstatus $16,168 144-char remark

    Show marketing remark (144 chars)

    BEAUTIFUL, HISTORIC 1920'S HOME OFFERS MANICURED LOT, CARPORT, WRAP AROUND PORCH, ORIGINAL HARDWOOD FLOORS. ACCESS TO FORT BENNING AND COLUMBUS!

17. 2012-07-16
    listed $15,600 144-char remark

    Show marketing remark (144 chars)

    BEAUTIFUL, HISTORIC 1920'S HOME OFFERS MANICURED LOT, CARPORT, WRAP AROUND PORCH, ORIGINAL HARDWOOD FLOORS. ACCESS TO FORT BENNING AND COLUMBUS!

18. 2006-05-01
    soldstatus $54,400
19. 2003-11-06
    soldstatus $53,000

ⓘ 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: $500 · $42/mo
• Projected year-2 tax: $1,103 · $92/mo
• Expected delta: +$603/yr (+$50/mo · 120.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,046
• − Mortgage interest: −$6,716
• − Property taxes: −$500
• − Insurance: −$600
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$3,488
• Taxable income: $3,015
• Est. tax owed @ 24.0%: −$724
• After-tax cash flow: $4,098/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: Stewart County
• NCES district ID: 1304590
• Math proficiency: 35% ▲ 9.00%
• Reading proficiency: 26% ▲ 8.00%
• Median HH income: $26,971
• Composite: 27.25/100
• National rank: #12434
• State rank: #141 of 187 in GA

Livability — Richland

• Score: 59/100
• State rank: #410
• US rank: #20252

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richland, GA
• Population (ZIP): 2,733

Population outlook (Stewart County) Hauer SSP2

• Today (2025): 5,873 people
• By 2030: 6,241 · +6.3%
• By 2040: 6,569 · +11.9%
• By 2050: 6,461 · +10.0%
• By 2075: 5,819 · -0.9%
• By 2100: 5,086 · -13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 58% White 32% Two or more races 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3% Cuban 2%
• Common ancestry: Slovak 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Stewart

• 2024 margin: D (+16.3) · D 58.0% · R 41.8%
• 2008→2024 swing: -8.5pp toward R · 2008: 24.8pp · 2024: 16.3pp
• All cycles: 2024: D+16.3 2020: D+19.1 2016: D+20.2 2012: D+27.6 2008: D+24.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

5 events — show timeline

• 2026-02-08 Listed $119,900 CBOR
• 2012-10-10 Sold (MLS) $16,168 GAMLS
• 2012-07-16 Listed $15,600 GAMLS
• 2006-05-01 Sold (Public Records) $54,400 Public Records
• 2003-11-06 Sold (Public Records) $53,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $500 · +3.9% YoY. Source: county tax records.