511 W Lincoln Ave · Albany, GA 31701

$19,400

2 bd · 2.0 ba · 874 sqft · SingleFamily public records · 88 Days on market

Built 1952 5,663 sqft lot Est $16k · 23% over ↓ 8% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

An excellent opportunity for both new and seasoned investors. This offering includes four fully occupied units with long-term tenants, currently generating just over $2,000 in monthly rental income. The portfolio may be purchased individually or as a package for $165,000, and includes 213 Monarch Dr. ($625/mo. ), 721 Cotton Ave. ($525/mo. ), 521 Cochran Ave. ($675/mo. ), and 511 W. Lincoln Ave. ($300/mo. ) Showings will be scheduled only after an accepted offer. Please contact your Realtor for additional details regarding this investment opportunity.

Key facts

• 5,663 sq ft lot
• Built 1952
• Listed 87 days

Property features AI

Finance

• Other: Listing broker: eXp Realty LLC; Listing agent: Jack Bell (229-869-4016)
• Financial info: Annual tax amount listed

Exterior

• Utilities: Public water; Public sewer (sewer connected)
• Home design: Single-story detached single-family residence; Residential property
• Exterior features: Located in the City of Albany subdivision; Directions: Go south on Slappey Blvd., left on W Oglethorpe, right on S Madison St., left on W Lincoln Ave.

Interior

• Bathrooms: 1 full bathroom
• Interior features: One full bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $19k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($713 rent vs $19k).
• Recommended offer: $18k (6.0% below list) — sets the bar for market timing.
• Cap rate 32.9% vs local median 4.7% in Albany — 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 60/100 on livability (#371 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety B+; Watch: schools F, crime F, amenities F.
• Dougherty County (urban): math 12% / reading 16% proficiency, ranked #163 of 174 in GA (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 177 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 45 units permitted in Dougherty County in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $134 of loan paydown is wiped out by about $582 of value loss. Plan a longer hold.
• Dougherty County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($18k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; severe wind risk, 97% 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 $18,236 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.67% ✓
• Cap rate: 32.93%
• Cash-on-cash: 95.15%
• DSCR: 5.23
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $15,732
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
527 Jefferies Ave	0.67mi	3/1.0 (+1)	962 (+10%)	4mo	$17,500	$18	40

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: 80.7%
• Equity multiple: 4.70×
• Total profit: $20,106
• Equity at exit: $2,893

10-year hold

• IRR: 84.2%
• Equity multiple: 9.76×
• Total profit: $47,585
• Equity at exit: $1,677

Cash invested: $5,432 (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 31701

• Home prices YoY: -27.3%
• Active inventory: 177
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $713 high
• Mortgage (P&I): −$102
• Tax from tax record: −$23 /mo · $271/yr
• Insurance: −$8
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$150
• Net cashflow: $364

Break-even live

Break-even rent $252

Max offer price $19,400

Occupancy floor 44%

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: $4,850
• Closing costs: $582
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1404 S Jackson St Unit B Albany, GA	1.0	1.0	546	$500	$0.92	20d	1	0.80mi
309 S Cleveland St Unit 309 Cleveland-A Albany, GA	2.0	1.0	804	$650	$0.81	20d	1	0.84mi
727 Lippitt Dr Albany, GA	2.0	1.0	525	$750	$1.43	20d	1	0.87mi
701 W Society Ave Albany, GA	1.0–3.0	1.0	723	$649	$0.90	20d	1	1.16mi
1210 Gillespie Ave Unit A Albany, GA	2.0	1.0	650	$550	$0.85	20d	1	1.22mi
1214 Gillespie Ave Unit 1 Albany, GA	2.0	1.0	800	$800	$1.00	20d	1	1.23mi
906 N Van Buren St Albany, GA	2.0	1.0	835	$695	$0.83	20d	1	1.40mi
1008 N McKinley St Unit 4 Albany, GA	1.0	1.0	750	$550	$0.73	20d	1	1.49mi

Listing history 18 events

1. 2026-06-19
   days on market $19,400 Active 88 DOM
2. 2026-06-18
   days on market $19,400 Active 87 DOM
3. 2026-06-17
   days on market $19,400 Active 86 DOM
4. 2026-06-16
   days on market $19,400 Active 85 DOM
5. 2026-06-15
   days on market $19,400 Active 84 DOM
6. 2026-06-14
   days on market $19,400 Active 82 DOM
7. 2026-06-13
   days on market $19,400 Active 81 DOM
8. 2026-06-10
   days on market $19,400 Active 79 DOM
9. 2026-06-09
   days on market $19,400 Active 78 DOM
10. 2026-06-08
    days on market $19,400 Active 77 DOM
11. 2026-06-07
    days on market $19,400 Active 76 DOM
12. 2026-06-05
    days on market $19,400 Active 73 DOM
13. 2026-06-02
    days on market $19,400 Active 71 DOM
14. 2026-06-01
    days on market $19,400 Active 70 DOM
15. 2026-05-31
    days on market $19,400 Active 69 DOM
16. 2026-05-30
    days on market $19,400 Active 68 DOM
17. 2026-05-05
    price $19,400
18. 2026-03-23
    listed $21,000 Active

ⓘ 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: $271 · $23/mo
• Projected year-2 tax: $271 · $23/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 97% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $8,554
• − Mortgage interest: −$1,087
• − Property taxes: −$271
• − Insurance: −$894
• − Repairs & maintenance: −$684
• − Management: −$684
• − Depreciation: −$564
• Taxable income: $4,368
• Est. tax owed @ 24.0%: −$1,048
• After-tax cash flow: $3,322/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: Dougherty County
• NCES district ID: 1301830
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 16% ▼ -9.00%
• Median HH income: $33,105
• Composite: 11.31/100
• National rank: #9716
• State rank: #163 of 174 in GA

Livability — Albany

• Score: 60/100
• State rank: #371
• US rank: #18903

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albany, GA
• County: Dougherty County · 89,040 people
• City population: 89,040
• Metro: Albany, GA
• Population (ZIP): 16,135
• Household income: $35,025
• Rent vs Own: 66.9% rent · 33.1% own
• Severe rent burden: 1383.0

Population outlook (Dougherty County) Hauer SSP2

• Today (2025): 84,551 people
• By 2030: 80,637 · -4.6%
• By 2040: 72,090 · -14.7%
• By 2050: 64,056 · -24.2%
• By 2075: 46,332 · -45.2%
• By 2100: 33,127 · -60.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (74%)
• Race & ethnicity: Black 74% White 21% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Dougherty

• 2024 margin: Solid D (+41.1) · D 70.4% · R 29.3%
• 2008→2024 swing: +6.2pp toward D · 2008: 35.0pp · 2024: 41.1pp
• All cycles: 2024: D+41.1 2020: D+40.0 2016: D+38.3 2012: D+39.0 2008: D+35.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.55%
• Current HPI: 145.4604
• Rent YoY: —
• Metro: Albany, 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

-7.6% since first listed

2 events — show timeline

• 2026-05-05 Price Changed $19,400 SWGABOR
• 2026-03-23 Listed $21,000 SWGABOR

Property tax history

+1.9%/yr

Latest (2025): $271 · +6.1% YoY. Source: county tax records.