353 Madison St · Macon-Bibb County, GA 31201

$59,900

3 bd · 3.0 ba · 2,684 sqft · MultiFamily public records · 21 Days on market

Built 1890 6,969 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• 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

Great opportunity to revive a Triplex in Macon! This property is convenient to downtown and Mercer University. Turn this fixer upper into the cash flow maxing property that it can truly be. Sold As-Is

Key facts

• 6,969 sq ft lot
• Built 1890
• Listed 20 days

Property features AI

Exterior

• Parking: Other parking
• Utilities: Other water source
• Home design: Single-family residence; Two-story
• Construction: Built on an other-type foundation
• Exterior features: No listed exterior features; Lot approximately 0.16 acres (70 x 97)

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: Two total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 53.1% vs local median 5.4% in Macon-Bibb County — 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 D — affects rentability + tenant quality, not the cash-flow math above.
• Bibb County (urban): math 11% / reading 18% proficiency, ranked #161 of 174 in GA (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.1%/yr); 74 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 154 units permitted in Bibb County in 2024 (0 in 5+ unit buildings).
• At $3,574/mo this rent would consume 146% of the median local household income ($29k/yr) (locally 1124% 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 $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Bibb County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $37k; list at $60k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.97% ✓
• Cap rate: 53.07%
• Cash-on-cash: 167.05%
• DSCR: 8.43
• GRM: 1.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.11% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.32×
• Total profit: $139,496
• Equity at exit: $8,931

10-year hold

• IRR: —
• Equity multiple: 19.78×
• Total profit: $314,987
• Equity at exit: $5,179

Cash invested: $16,772 (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 31201

• Rents YoY: 3.1%
• Active inventory: 74
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $3,574 high
• Mortgage (P&I): −$314
• Tax from tax record: −$150 /mo · $1,795/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$751
• Net cashflow: $2,335

Break-even live

Break-even rent $619

Max offer price $59,900

Occupancy floor 30%

Sensitivity live

Price	-10% $2,369	-5% $2,352	+0% $2,335	+5% $2,318	+10% $2,301
Rent	-10% $2,052	-5% $2,194	+0% $2,335	+5% $2,476	+10% $2,617
Rate	-1.0pp $2,365	-0.5pp $2,350	base $2,335	+0.5pp $2,319	+1.0pp $2,304

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$3,573
Total (3 units)			$3,574

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Orange St Macon, GA	3.0	2.0	2791	$2,950	$1.06	45d	1	0.21mi
879 Nottingham Dr Macon, GA	3.0	2.5	2147	$1,700	$0.79	14d	1	1.04mi
870 Laurel Ave Macon, GA	3.0	2.0	2205	$1,300	$0.59	45d	1	1.18mi
2585 Napier Ave Unit A Macon, GA	2.0	2.0	2007	$950	$0.47	45d	1	1.37mi
2663 Hillcrest Ave Macon, GA	3.0	2.0	1931	$1,395	$0.72	22d	1	1.44mi

Listing history 16 events

1. 2026-06-21
   days on market $59,900 Active 21 DOM
2. 2026-06-19
   days on market $59,900 Active 19 DOM
3. 2026-06-18
   days on market $59,900 Active 18 DOM
4. 2026-06-17
   days on market $59,900 Active 17 DOM
5. 2026-06-16
   days on market $59,900 Active 16 DOM
6. 2026-06-15
   days on market $59,900 Active 15 DOM
7. 2026-06-14
   days on market $59,900 Active 13 DOM
8. 2026-06-13
   days on market $59,900 Active 12 DOM
9. 2026-06-10
   days on market $59,900 Active 10 DOM
10. 2026-06-09
    days on market $59,900 Active 9 DOM
11. 2026-06-08
    days on market $59,900 Active 8 DOM
12. 2026-06-07
    days on market $59,900 Active 7 DOM
13. 2026-06-03
    days on market $59,900 Active 3 DOM
14. 2026-06-02
    days on market $59,900 Active 2 DOM
15. 2026-06-01
    remarks 200-char remark
16. 2026-06-01
    listed $59,900 Active 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: $1,795 · $150/mo
• Projected year-2 tax: $1,795 · $150/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 ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,888
• − Mortgage interest: −$3,355
• − Property taxes: −$1,795
• − Insurance: −$300
• − Repairs & maintenance: −$3,431
• − Management: −$3,431
• − Depreciation: −$1,743
• Taxable income: $28,834
• Est. tax owed @ 24.0%: −$6,920
• After-tax cash flow: $21,098/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: Bibb County
• NCES district ID: 1300420
• Math proficiency: 11% ▼ -14.00%
• Reading proficiency: 18% ▼ -11.00%
• Median HH income: $37,426
• Composite: 12.13/100
• National rank: #9654
• State rank: #161 of 174 in GA

Livability — Macon-Bibb County

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Macon-Bibb County, GA
• County: Bibb County · 164,332 people
• City population: 143,186
• Metro: Macon-Bibb County, GA
• Population (ZIP): 7,891
• Household income: $29,420
• Rent vs Own: 76.0% rent · 24.0% own
• Severe rent burden: 1124.0

Population outlook (Bibb County) Hauer SSP2

• Today (2025): 148,772 people
• By 2030: 145,904 · -1.9%
• By 2040: 139,404 · -6.3%
• By 2050: 131,603 · -11.5%
• By 2075: 111,050 · -25.4%
• By 2100: 83,346 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 59% White 31% Hispanic / Latino 6% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Bibb

• 2024 margin: Strong D (+22.4) · D 61.0% · R 38.5%
• 2008→2024 swing: +4.4pp toward D · 2008: 18.0pp · 2024: 22.4pp
• All cycles: 2024: D+22.4 2020: D+23.8 2016: D+20.2 2012: D+20.0 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.32%
• Current HPI: 100.04
• Rent YoY: ▲ 3.11%
• Metro: Macon-Bibb County, 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

+121.9% since first listed

9 events — show timeline

• 2026-05-31 Listed $59,900 MGMLS
• 2025-05-09 Listing Removed — GAMLS
• 2025-05-01 Relisted — GAMLS
• 2025-04-30 Listing Removed — GAMLS
• 2025-04-21 Price Changed $70,000 GAMLS
• 2025-03-06 Listed $80,000 GAMLS
• 2022-01-28 Sold (Public Records) $37,000 Public Records
• 2021-07-16 Sold (Public Records) $37,000 Public Records
• 2021-07-16 Sold (Public Records) $27,000 Public Records

Property tax history

+13.4%/yr

Latest (2025): $1,795 · -6.9% YoY. Source: county tax records.