965 Ell St · Macon-Bibb County, GA 31206

$60,000

2 bd · 2.0 ba · 760 sqft · MultiFamily public records · 9 Days on market

Built 1959 7,840 sqft lot ↓ 14% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• 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: 2 units. confirmed

Listing remarks

Great investment opportunity with room to add value! This brick duplex features two 1-bedroom, 1-bath units with separate utilities, a new roof, new plumbing, new flooring, new showers in both units, and new water heaters. The property has already seen several improvements and is ready for the next owner to finish the remaining work, including electrical, with permits already pulled. Whether you're looking to complete the project and hold for rental income or add to a growing portfolio, this duplex offers solid potential. Two additional duplexes next to it are also available, creating the possibility of owning up to six total units together. Schedule a showing today!

Key facts

• New plumbing
• Brick duplex
• New flooring

Tags

• BRICK DUPLEX
• NEW ROOF
• NEW PLUMBING
• NEW FLOORING
• NEW SHOWERS
• NEW WATER HEATERS

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer; Underground utilities; Water available; Sewer available
• Home design: Duplex residential income property; One story
• Construction: Brick construction; Block foundation; Other roof
• Exterior features: Flag lot; Other exterior features

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: No central heating; No central cooling
• Interior features: Front porch

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $934 ($11k/yr) — positive. Per door: $467/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 25.0% 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 B — 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.
• Zoned schools: Ingram/Pye Elementary School (math 2% / reading 2%, grade F, #1,204 of 1,228 statewide, top 100%, 453 students, 100% FRL); Ballard Hudson Middle School (math 4% / reading 9%, grade F, #457 of 470 statewide, top 98%, 744 students, 100% FRL); Southwest High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 800 students, 100% FRL) — zoned schools average 100% FRL vs 75% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.0%/yr); 207 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% 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 $1,643/mo this rent would consume 66% of the median local household income ($30k/yr) (locally 1335% 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 $415 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 + 5.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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 $18k; list at $60k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• 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 $60,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.74% ✓
• Cap rate: 24.97%
• Cash-on-cash: 66.70%
• DSCR: 3.97
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.03% rent growth · sell at horizon

5-year hold

• IRR: 68.2%
• Equity multiple: 4.16×
• Total profit: $53,171
• Equity at exit: $8,946

10-year hold

• IRR: 72.9%
• Equity multiple: 9.18×
• Total profit: $137,505
• Equity at exit: $5,188

Cash invested: $16,800 (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 31206

• Rents YoY: 5.0%
• Active inventory: 207
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,643 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$24 /mo · $294/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $934

Break-even live

Break-even rent $461

Max offer price $60,000

Occupancy floor 38%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,642
Total (2 units)			$1,643

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
806 Armory Dr Unit B Macon, GA	3.0	1.0	1100	$975	$0.89	44d	1	0.32mi
2349 Mason St Macon, GA	1.0	1.0	552	$625	$1.13	44d	1	0.42mi
672 Bowden St Macon, GA	2.0	1.0	1076	$900	$0.84	21d	1	0.46mi
771 Harold St Macon, GA	2.0	1.0	950	$1,250	$1.32	13d	1	0.57mi
1089 Brisbane St Macon, GA	3.0	1.0	816	$1,075	$1.32	13d	1	0.62mi
663 Williams St Macon, GA	3.0	1.0	911	$980	$1.08	44d	1	0.69mi
2445 Lowe St Macon, GA	2.0	1.0	940	$890	$0.95	44d	1	0.71mi
614 Cleveland St Macon, GA	1.0	1.0	650	$800	$1.23	44d	1	0.78mi
3149 Somerset Dr Macon, GA	2.0	1.0	897	$745	$0.83	44d	1	0.84mi
558 Cleveland St Macon, GA	2.0	1.0	924	$925	$1.00	44d	1	0.84mi
3080 Rice Mill Rd Unit C-1 Macon, GA	3.0	1.5	1100	$925	$0.84	21d	1	0.87mi
3080 Rice Mill Rd Macon, GA	3.0	1.0	1100	$950	$0.86	44d	1	0.87mi
3080 Rice Mill Rd Unit M-5 Macon, GA	1.0	1.0	875	$750	$0.86	44d	1	0.87mi
837 Newberg Ave Macon, GA	3.0	1.0	966	$750	$0.78	44d	1	0.93mi
3238 Somerset Dr Macon, GA	3.0	1.0	1100	$975	$0.89	13d	1	0.95mi
668 Grosso Ave Unit A Macon, GA	2.0	1.0	650	$750	$1.15	21d	1	1.00mi
832 Elm St Macon, GA	3.0	2.0	1121	$1,175	$1.05	44d	1	1.01mi
424 Pansy Ave Macon, GA	2.0	1.0	810	$850	$1.05	44d	1	1.02mi
1164 Newberg Ave Macon, GA	3.0	1.0	1100	$1,195	$1.09	44d	1	1.04mi
3423 Flamingo Dr Macon, GA	3.0	1.0	1048	$895	$0.85	44d	1	1.17mi
1249 Duncan Ave Unit C Macon, GA	2.0	2.0	900	$795	$0.88	44d	1	1.29mi
1249 Duncan Ave Unit B Macon, GA	2.0	2.0	700	$1,095	$1.56	44d	1	1.29mi
1463 Bankston Ave Macon, GA	2.0	1.0	960	$950	$0.99	44d	1	1.36mi
1148 N Beddingfield Dr Macon, GA	3.0	1.0	1076	$825	$0.77	44d	1	1.38mi
1121 Columbus St Unit A Macon, GA	1.0	1.0	900	$1,250	$1.39	13d	1	1.39mi
2585 Napier Ave Unit B Macon, GA	2.0	2.0	644	$850	$1.32	21d	1	1.40mi
864 Tattnall St Macon, GA	2.0	1.0	640	$800	$1.25	44d	1	1.46mi
867 Orange Ter Unit B Macon, GA	2.0	2.0	1088	$1,400	$1.29	44d	1	1.48mi
867 Orange Ter #2 Macon, GA	2.0	1.0	1088	$1,500	$1.38	44d	1	1.48mi
3778 Spencer Cir Macon, GA	3.0	1.0	864	$1,300	$1.50	21d	1	1.48mi

Listing history 8 events

1. 2026-06-19
   days on market $60,000 Active 9 DOM
2. 2026-06-18
   days on market $60,000 Active 8 DOM
3. 2026-06-17
   days on market $60,000 Active 7 DOM
4. 2026-06-16
   days on market $60,000 Active 6 DOM
5. 2026-06-15
   days on market $60,000 Active 5 DOM
6. 2026-06-14
   days on market $60,000 Active 3 DOM
7. 2026-06-13
   remarks 675-char remark
8. 2026-06-13
   listed $60,000 Active 2 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: $294 · $24/mo
• Projected year-2 tax: $552 · $46/mo
• Expected delta: +$258/yr (+$22/mo · 87.8%)

ⓘ 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 · 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,716
• − Mortgage interest: −$3,361
• − Property taxes: −$294
• − Insurance: −$300
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$1,745
• Taxable income: $10,861
• Est. tax owed @ 24.0%: −$2,607
• After-tax cash flow: $8,599/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): 24,310
• Household income: $30,042
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 1335.0

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: Predominantly Black (76%)
• Race & ethnicity: Black 76% White 12% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -80.17%
• Current HPI: 148.6765
• Rent YoY: ▲ 5.03%
• 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

-14.3% since first listed

13 events — show timeline

• 2026-06-09 Listed $60,000 MGMLS
• 2025-08-29 Listing Removed — GAMLS
• 2025-07-09 Price Changed $65,000 MGMLS
• 2025-07-09 Price Changed $65,000 GAMLS
• 2025-05-30 Listed $70,000 GAMLS
• 2023-08-02 Sold (Public Records) $18,000 Public Records
• 2023-08-01 Pending — GAMLS
• 2023-08-01 Pending — FMLS
• 2023-08-01 Sold (MLS) $18,000 FMLS
• 2023-08-01 Sold (MLS) $18,000 GAMLS
• 2023-07-13 Listed $19,900 FMLS
• 2023-07-13 Listed $19,900 GAMLS
• 2003-05-30 Sold (Public Records) $70,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $294 · -1.3% YoY. Source: county tax records.