5 Neassie Ct · Columbus, GA 31909

$245,000

4 bd · 3.0 ba · 2,029 sqft · SingleFamily public records · 8 Days on market

Built 1973 0.42 ac lot Est $280k · 13% under

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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 +14.8/30.0
• ARV discount +13.1/15.0
• DSCR +4.5/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Tucked away on a quiet cul-de-sac in Columbus, 5 Neassie Ct offers the space, flexibility, and functionality today's buyers are searching for. This well-maintained 4 bedroom, 3 full bath home features over 2,000 square feet of living space with a layout designed to fit a variety of lifestyles. One of the standout features is the private ensuite setup complete with not only a full bathroom but also its own kitchenette-ideal for multigenerational living, guests, a college student, private office setup, or potential income-producing opportunities. Spaces like this, are hard to find and add true versatility to the home. Inside, you'll find comfortable living areas, spacious bedrooms, and a floo

Key facts

• Full bathroom
• Own kitchenette
• Spacious bedrooms

Tags

• PRIVATE ENSUITE SETUP
• FULL BATHROOM
• OWN KITCHENETTE
• MULTIGENERATIONAL LIVING
• COMFORTABLE LIVING AREAS
• SPACIOUS BEDROOMS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Brick construction
• Exterior features: Waterfront lot

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Ceiling fans

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $67 ($809/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (22.1% below list).
• Recommended offer: $191k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 (+2.8%/yr); 148 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).
• This rent runs 33% of the median local income ($69k/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 $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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $95k; list at $245k implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% 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 $190,908 (22.1% below list)

Questions for the listing agent

1. Built in 1973 — 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. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.18%
• DSCR: 1.05
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $280,002
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5613 Winvelly Dr	0.12mi	3/2.0 (-1)	2,065 (+2%)	8mo	$290,000	$140	75
3516 Bridgewater Rd	0.21mi	3/2.0 (-1)	2,177 (+7%)	1mo	$290,000	$133	68
3624 Southlea Ct	0.28mi	3/2.0 (-1)	2,116 (+4%)	5mo	$300,000	$142	67
3342 Windermere St	0.35mi	4/3.0	2,218 (+9%)	3mo	$285,000	$128	66
5921 Canterbury Dr	0.48mi	4/2.0	2,092 (+3%)	4mo	$290,000	$139	65
5734 Neassie St	0.20mi	3/2.0 (-1)	1,919 (-5%)	9mo	$234,900	$122	65
3009 Piper St	0.39mi	4/2.0	1,847 (-9%)	2mo	$254,900	$138	61
5836 Sherborne Dr	0.38mi	4/2.5	2,274 (+12%)	3mo	$319,000	$140	58
5502 Southlea Ln	0.33mi	3/2.0 (-1)	1,783 (-12%)	3mo	$164,000	$92	53
3801 Austin Dr	0.72mi	4/2.5	1,955 (-4%)	9mo	$225,000	$115	51
5817 Sherborne Dr	0.32mi	3/2.0 (-1)	1,777 (-12%)	7mo	$285,000	$160	49
6002 Canterbury Dr	0.55mi	5/3.0 (+1)	2,308 (+14%)	2mo	$313,000	$136	45

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 · 2.78% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.48×
• Total profit: $-35,952
• Equity at exit: $36,530

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-28,010
• Equity at exit: $21,183

Cash invested: $68,600 (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 31909

• Rents YoY: 2.8%
• Active inventory: 148
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,909 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$54 /mo · $646/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $67

Break-even live

Break-even rent $1,824

Max offer price $245,000

Occupancy floor 91%

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5710 August Ave Columbus, GA	3.0	2.0	1545	$1,700	$1.10	20d	1	0.57mi
6009 N Pointe Dr Columbus, GA	4.0	2.0	1733	$1,650	$0.95	43d	1	1.00mi
4120 Canady St Columbus, GA	3.0	2.0	1854	$1,725	$0.93	43d	1	1.13mi
4343 Warm Springs Rd Columbus, GA	2.0–3.0	2.0	1242	$1,535	$1.24	13d	10	1.14mi
5577 Terrace Pointe Ct Columbus, GA	3.0	2.0	1667	$1,850	$1.11	20d	1	1.16mi
2335 Nottingham Dr Columbus, GA	3.0	2.0	2412	$1,750	$0.73	43d	1	1.30mi
3813 Gray Fox Dr Columbus, GA	4.0	3.0	2611	$2,500	$0.96	43d	1	1.32mi
3828 Anglin Ct Columbus, GA	3.0	2.0	1477	$1,700	$1.15	20d	1	1.48mi

Listing history 7 events

1. 2026-06-03
   status $245,000 Under Contract 8 DOM
2. 2026-06-02
   days on market $245,000 New 8 DOM
3. 2026-06-01
   days on market $245,000 New 7 DOM
4. 2026-05-31
   days on market $245,000 New 6 DOM
5. 2026-05-30
   days on market $245,000 New 5 DOM
6. 2026-05-23
   listed $245,000 Active
7. 2011-10-12
   soldstatus $95,000

ⓘ 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: $646 · $54/mo
• Projected year-2 tax: $2,254 · $188/mo
• Expected delta: +$1,608/yr (+$134/mo · 249.0%)

ⓘ 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 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,909
• − Mortgage interest: −$13,724
• − Property taxes: −$646
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,833
• − Management: −$1,833
• − Depreciation: −$7,127
• Taxable loss: −$3,478
• Est. tax savings @ 24.0%: +$835
• After-tax cash flow: $1,644/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): 39,364
• Household income: $69,166
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1819.0

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 0.64)
• Race & ethnicity: White 53% Black 24% Hispanic / Latino 12% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 1%
• Common ancestry: Italian 3% Serbian 2% Lithuanian 2%
• Foreign-born: 8% · Canada, Vietnam, Jamaica
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 2% Other Asian/Pacific 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: ▼ -146.90%
• Current HPI: 203.1499
• Rent YoY: ▲ 2.78%
• 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

+157.9% since first listed

2 events — show timeline

• 2026-05-23 Listed $245,000 CBOR
• 2011-10-12 Sold (Public Records) $95,000 Public Records

Property tax history

-0.5%/yr

Latest (2025): $646 · +0.0% YoY. Source: county tax records.