1345 18th St · Columbus, GA 31901

$224,900

4 bd · 3.0 ba · 2,372 sqft · MultiFamily public records · 122 Days on market

Built 1903 6,970 sqft lot $95/sqft · 48% above area Est $152k · 48% over

---

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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +7.1/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Triplex Investment Opportunity in East Highland! Location, Income, and Renovations! Located in the sought-after East Highland neighborhood, this property offers steady income with significant potential for rent increases due to the neighborhood's growing desirability. Property Highlights: Location: Unbeatable proximity to Lakebottom Park, Piedmont Medical Complex, and a short drive to Downtown restaurants, shopping and Mercer University. Seperate water and power meters for each unit. Updates: Enjoy peace of mind with extensive renovations completed in the last 4 years, including: Newer architectural roof. Each unit has it's own HVAC system, 2 have been updated. Fresh exterior paint. New flooring throughout. Unit Amenities: Two of the three units feature convenient washer and dryer hookups, and the washer/dryer units are included with the sale! Curb Appeal & Outdoor Space: Situated on a large corner lot with a welcoming, huge front porch and a fenced-in backyard—a major bonus for tenants. NO Seller Finance

Key facts

• New flooring
• Newer hvac units
• 6,970 sq ft lot

Tags

• TRIPLEX INVESTMENT OPPORTUNITY
• PROXIMITY TO LAKEBOTTOM PARK
• PROXIMITY TO DOWNTOWN
• NEWER ARCHITECTURAL ROOF
• NEWER HVAC UNITS
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive. Per door: $221/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 (+1.2%/yr); 60 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).
• At $2,724/mo this rent would consume 64% of the median local household income ($51k/yr) (locally 598% 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $85k; list at $225k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% 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 $197,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.21% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• GRM: 6.9

CMA / ARV

• ARV (median comp): $151,646
• List price: $224,900
• Delta: 48.31%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.23% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.01×
• Total profit: $933
• Equity at exit: $33,533

10-year hold

• IRR: 8.2%
• Equity multiple: 1.57×
• Total profit: $36,206
• Equity at exit: $19,445

Cash invested: $62,972 (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 31901

• Rents YoY: 1.2%
• Active inventory: 60
• Price-to-rent: 20.6×

Monthly cashflow live

• Estimated rent: $2,724 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$217 /mo · $2,606/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $662

Break-even live

Break-even rent $1,886

Max offer price $224,900

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,724
Total (3 units)			$2,724

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1908 Garrard St Columbus, GA	4.0	2.0	1716	$1,600	$0.93	20d	1	0.47mi
1192 Munro Ave Columbus, GA	3.0	2.0	1711	$1,750	$1.02	43d	1	0.87mi
2908 10th Ave Columbus, GA	3.0	2.0	2232	$2,000	$0.90	43d	1	0.89mi
1706 Wells Dr Columbus, GA	3.0	2.0	1990	$1,850	$0.93	13d	1	1.18mi
2309 Willard St Columbus, GA	3.0	2.0	1803	$1,700	$0.94	13d	1	1.49mi

Listing history 13 events

1. 2026-06-05
   days on market $224,900 Active 122 DOM
2. 2026-06-03
   days on market $224,900 Active 121 DOM
3. 2026-06-02
   days on market $224,900 Active 120 DOM
4. 2026-06-01
   days on market $224,900 Active 119 DOM
5. 2026-05-31
   days on market $224,900 Active 118 DOM
6. 2026-05-30
   days on market $224,900 Active 117 DOM
7. 2026-05-07
   price $224,900 1032-char remark

   Show marketing remark (1032 chars)

   Triplex Investment Opportunity in East Highland! Location, Income, and Renovations! Located in the sought-after East Highland neighborhood, this property offers steady income with significant potential for rent increases due to the neighborhood's growing desirability. Property Highlights: Location: Unbeatable proximity to Lakebottom Park, Piedmont Medical Complex, and a short drive to Downtown restaurants, shopping and Mercer University. Seperate water and power meters for each unit. Updates: Enjoy peace of mind with extensive renovations completed in the last 4 years, including: Newer architectural roof. Each unit has it's own HVAC system, 2 have been updated. Fresh exterior paint. New flooring throughout. Unit Amenities: Two of the three units feature convenient washer and dryer hookups, and the washer/dryer units are included with the sale! Curb Appeal & Outdoor Space: Situated on a large corner lot with a welcoming, huge front porch and a fenced-in backyard—a major bonus for tenants. NO Seller Finance

8. 2026-02-02
   listed $235,000 Active 1032-char remark

   Show marketing remark (1032 chars)

   Triplex Investment Opportunity in East Highland! Location, Income, and Renovations! Located in the sought-after East Highland neighborhood, this property offers steady income with significant potential for rent increases due to the neighborhood's growing desirability. Property Highlights: Location: Unbeatable proximity to Lakebottom Park, Piedmont Medical Complex, and a short drive to Downtown restaurants, shopping and Mercer University. Seperate water and power meters for each unit. Updates: Enjoy peace of mind with extensive renovations completed in the last 4 years, including: Newer architectural roof. Each unit has it's own HVAC system, 2 have been updated. Fresh exterior paint. New flooring throughout. Unit Amenities: Two of the three units feature convenient washer and dryer hookups, and the washer/dryer units are included with the sale! Curb Appeal & Outdoor Space: Situated on a large corner lot with a welcoming, huge front porch and a fenced-in backyard—a major bonus for tenants. NO Seller Finance

9. 2019-10-28
   soldstatus $85,000
10. 2019-08-01
    soldstatus $85,000
11. 2019-07-31
    soldstatus $85,000 Closed 453-char remark

    Show marketing remark (453 chars)

    This triplex is just 4 blocks off of Lakebottom Park in Midtown Columbus Ga. What a great opportunity to own a rental income property! All units are currently occupied. Each unit is 1 bedroom, 1 bath with a kitchen & living area. As you enter the front door, you'll step into a common area shared foyer; unit 1 is the left, unit 2 is on the right and upstairs is unit 3. This triplex sits on a corner lot with a fenced backyard. So much potential!

12. 2019-04-10
    listed $98,500 453-char remark

    Show marketing remark (453 chars)

    This triplex is just 4 blocks off of Lakebottom Park in Midtown Columbus Ga. What a great opportunity to own a rental income property! All units are currently occupied. Each unit is 1 bedroom, 1 bath with a kitchen & living area. As you enter the front door, you'll step into a common area shared foyer; unit 1 is the left, unit 2 is on the right and upstairs is unit 3. This triplex sits on a corner lot with a fenced backyard. So much potential!

13. 2006-06-05
    soldstatus $129,900

ⓘ 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: $2,606 · $217/mo
• Projected year-2 tax: $2,606 · $217/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 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,688
• − Mortgage interest: −$12,598
• − Property taxes: −$2,606
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,615
• − Management: −$2,615
• − Depreciation: −$6,543
• Taxable income: $4,587
• Est. tax owed @ 24.0%: −$1,101
• After-tax cash flow: $6,839/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): 5,841
• Household income: $51,424
• Rent vs Own: 66.4% rent · 33.6% own
• Severe rent burden: 598.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 32% Two or more races 9% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Asian/Pacific 2%

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: ▼ -157.58%
• Current HPI: 122.9139
• Rent YoY: ▲ 1.23%
• 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

+73.1% since first listed

7 events — show timeline

• 2026-05-07 Price Changed $224,900 CBOR
• 2026-02-02 Listed $235,000 CBOR
• 2019-10-28 Sold (Public Records) $85,000 Public Records
• 2019-08-01 Sold (Public Records) $85,000 Public Records
• 2019-07-31 Sold (MLS) $85,000 CBOR
• 2019-04-10 Listed $98,500 CBOR
• 2006-06-05 Sold (Public Records) $129,900 Public Records

Property tax history

+1.8%/yr

Latest (2025): $2,606 · +0.0% YoY. Source: county tax records.