2408 Cornell Ave · Columbus, GA 31903

$62,000

3 bd · 1.0 ba · 1,118 sqft · SingleFamily public records

Built 1955 9,148 sqft lot Est $79k · 22% under ↓ 4% 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
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

LEVEL FENCED LOT, FRONT PORCH, LOTS OF HARDWOOD FLOORING, NEW GAS FURNACE (2021), GAS WATER HEATER (2019), DETACHED STORAGE BUILDING.

Key facts

• 9,148 sq ft lot

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($993 rent vs $62k).
• Cap rate 13.4% vs local median 4.7% in Columbus — 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 64/100 on livability (#254 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: amenities D+, schools F, crime F.
• Muscogee County (urban): math 21% / reading 30% proficiency, ranked #120 of 174 in GA (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.8%/yr); 100 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).
• This rent runs 37% of the median local income ($32k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $429 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Muscogee County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.60% ✓
• Cap rate: 13.43%
• Cash-on-cash: 25.49%
• DSCR: 2.13
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $79,378
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2408 Cornell Ave	0.00mi	3/1.0	1,118 (0%)	1mo	$62,000	$55	99
2309 Ginny Ave	0.22mi	3/1.0	1,082 (-3%)	1mo	$62,000	$57	84
2720 Wise St	0.12mi	3/1.0	1,182 (+6%)	3mo	$110,250	$93	82
2608 Walker St	0.28mi	3/1.0	1,054 (-6%)	2mo	$75,000	$71	75
3008 Blan St	0.32mi	3/1.0	1,054 (-6%)	2mo	$62,000	$59	74
2846 Walker St	0.13mi	3/1.0	990 (-11%)	1mo	$35,000	$35	74
2254 S Lumpkin Rd	0.51mi	3/1.0	1,158 (+4%)	4mo	$65,000	$56	67
2331 Sharon Ave	0.43mi	3/1.0	989 (-12%)	2mo	$89,000	$90	59
2058 Somerset Ave	0.67mi	3/1.0	1,251 (+12%)	0mo	$125,000	$100	49
3009 Plantation Rd	0.63mi	3/1.0	1,233 (+10%)	6mo	$118,000	$96	48
2317 Sharon Ave	0.44mi	4/2.0 (+1)	1,246 (+11%)	5mo	$108,000	$87	47
3018 Plantation Rd	0.61mi	3/1.0	1,280 (+14%)	1mo	$62,900	$49	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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: 17.8%
• Equity multiple: 1.71×
• Total profit: $12,280
• Equity at exit: $9,244

10-year hold

• IRR: 25.4%
• Equity multiple: 3.09×
• Total profit: $36,292
• Equity at exit: $5,361

Cash invested: $17,360 (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 31903

• Home prices YoY: -14.5%
• Rents YoY: 1.8%
• Active inventory: 100
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $993 high
• Mortgage (P&I): −$325
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $369

Break-even live

Break-even rent $526

Max offer price $62,000

Occupancy floor 58%

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2840 Walker St Columbus, GA	3.0	1.0	1032	$975	$0.94	43d	1	0.13mi
2231 Cornell Ave Columbus, GA	2.0	1.0	858	$950	$1.11	20d	1	0.22mi
3014 Drake St Columbus, GA	2.0	1.0	858	$950	$1.11	43d	1	0.25mi
3028 Meade St Columbus, GA	2.0	1.0	1016	$950	$0.94	43d	1	0.27mi
2329 S Lumpkin Rd Columbus, GA	2.0	1.0	816	$850	$1.04	43d	1	0.42mi
3053 Blan St Columbus, GA	2.0	1.0	868	$875	$1.01	13d	1	0.42mi
3122 Meade St Unit 1 Columbus, GA	2.0	1.0	949	$725	$0.76	13d	1	0.46mi
2354 Banks Ave Unit 1 Columbus, GA	2.0	1.0	942	$725	$0.77	13d	1	0.49mi
2550 Wedgefield Ct Columbus, GA	2.0	2.0	1100	$788	$0.72	13d	1	0.51mi
2051 Somerset Ave Columbus, GA	3.0	1.0	1092	$1,100	$1.01	43d	1	0.67mi
2829 Ramsey Rd Columbus, GA	3.0	1.0	1252	$1,100	$0.88	13d	1	0.95mi
2885 Ramsey Rd Columbus, GA	3.0	2.0	1290	$1,075	$0.83	13d	1	0.99mi
76 Mathews St Columbus, GA	3.0	2.0	1100	$1,100	$1.00	13d	1	1.04mi
121 Torch Hill Rd Columbus, GA	2.0	1.0	936	$825	$0.88	43d	1	1.06mi
25 Mason Dr Columbus, GA	3.0	1.0	1038	$1,100	$1.06	20d	1	1.11mi
88 Infantry Dr Columbus, GA	2.0	1.0	1122	$900	$0.80	43d	1	1.40mi
48 Douglas St Columbus, GA	3.0	1.0	1038	$980	$0.94	13d	1	1.41mi
1 Engineer Dr Unit H1 Columbus, GA	2.0	1.0	816	$850	$1.04	43d	1	1.45mi
58 Stonewall Dr Columbus, GA	3.0	1.0	1002	$1,000	$1.00	43d	1	1.50mi

Listing history 6 events

1. 2026-05-13
   historical
2. 2026-05-12
   listed $62,000
3. 2025-01-15
   soldstatus $64,900
4. 2025-01-14
   soldstatus $64,900 Closed 133-char remark

   Show marketing remark (133 chars)

   LEVEL FENCED LOT, FRONT PORCH, LOTS OF HARDWOOD FLOORING, NEW GAS FURNACE (2021), GAS WATER HEATER (2019), DETACHED STORAGE BUILDING.

5. 2024-12-29
   historical Active Under Contract 133-char remark

   Show marketing remark (133 chars)

   LEVEL FENCED LOT, FRONT PORCH, LOTS OF HARDWOOD FLOORING, NEW GAS FURNACE (2021), GAS WATER HEATER (2019), DETACHED STORAGE BUILDING.

6. 2024-12-10
   listed $64,900 Active 133-char remark

   Show marketing remark (133 chars)

   LEVEL FENCED LOT, FRONT PORCH, LOTS OF HARDWOOD FLOORING, NEW GAS FURNACE (2021), GAS WATER HEATER (2019), DETACHED STORAGE BUILDING.

ⓘ 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: $779 · $65/mo
• Projected year-2 tax: $779 · $65/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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,918
• − Mortgage interest: −$3,473
• − Property taxes: −$779
• − Insurance: −$310
• − Repairs & maintenance: −$953
• − Management: −$953
• − Depreciation: −$1,804
• Taxable income: $3,646
• Est. tax owed @ 24.0%: −$875
• After-tax cash flow: $3,550/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: Muscogee County
• NCES district ID: 1303870
• Math proficiency: 21% ▼ -11.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $41,176
• Composite: 21.6/100
• National rank: #8297
• State rank: #120 of 174 in GA

Livability — Columbus

• Score: 64/100
• State rank: #254
• US rank: #14102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, GA
• County: Muscogee County · 180,764 people
• City population: 180,764
• Metro: Columbus, GA-AL
• Population (ZIP): 20,644
• Household income: $32,401
• Rent vs Own: 71.9% rent · 28.1% own
• Severe rent burden: 1878.0

Population outlook (Muscogee County) Hauer SSP2

• Today (2025): 216,729 people
• By 2030: 224,504 · +3.6%
• By 2040: 238,318 · +10.0%
• By 2050: 249,027 · +14.9%
• By 2075: 264,862 · +22.2%
• By 2100: 254,786 · +17.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 11% White 9% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1%

Political lean MEDSL · Muscogee

• 2024 margin: Strong D (+23.4) · D 61.4% · R 38.0%
• 2008→2024 swing: +3.7pp toward D · 2008: 19.7pp · 2024: 23.4pp
• All cycles: 2024: D+23.4 2020: D+24.0 2016: D+18.6 2012: D+21.3 2008: D+19.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.30%
• Current HPI: 131.4761
• Rent YoY: ▲ 1.82%
• Metro: Columbus, GA-AL
• 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

-4.5% since first listed

6 events — show timeline

• 2026-05-13 Delisted — CBOR
• 2026-05-12 Listed $62,000 CBOR
• 2025-01-15 Sold (Public Records) $64,900 Public Records
• 2025-01-14 Sold (MLS) $64,900 CBOR
• 2024-12-29 Contingent — CBOR
• 2024-12-10 Listed $64,900 CBOR

Property tax history

+51.6%/yr

Latest (2025): $779 · +9552.9% YoY. Source: county tax records.