2903 Beacon Ave · Columbus, GA 31904

$238,500

3 bd · 2.0 ba · 2,323 sqft · MultiFamily public records · 16 Days on market

Built 1914 9,148 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Own a home in Historic Columbus. This home is 110 years old with MANY updates. This would also make a great Air BNB! The roof, hvac, & water heater are from 2020, along with plumbing and electrical updates. New flooring was just added! This home still has plenty of historical character like a decorative fireplace in each room. The large hallway & high ceilings make each room feel grand. There are 3 bedrooms and 2.5 baths. The master bathroom has a tiled shower and walk-in closet storage system. The kitchen has beautiful gray cabinetry & butcher block counters. The backyard is fenced & there are sidewalks throughout the neighborhood.

Key facts

• Gilded ceilings
• Transom windows
• Fenced backyard

Tags

• GILDED CEILINGS
• TRANSOM WINDOWS
• EXPANSIVE FRONT PORCH
• FENCED BACKYARD

Property features AI

Exterior

• Home design: Residential single-family home; Located in WAVERLY TERRACE
• Exterior features: Pets allowed; Directions: Take Veterans Parkway to River Road, right on Hamilton Road, left on 27th Street, left on Beacon Avenue; house on the left

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Interior features: Fireplace (3 total)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $238k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $238k).
• Recommended offer: $235k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% 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 (+3.0%/yr); 327 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).
• At $3,518/mo this rent would consume 64% of the median local household income ($66k/yr) (locally 2030% 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 5 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 $202k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $234,922 (1.5% below list)

Questions for the listing agent

1. Built in 1914 — 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 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: 1.48% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.40%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.04% rent growth · sell at horizon

5-year hold

• IRR: 12.7%
• Equity multiple: 1.51×
• Total profit: $33,863
• Equity at exit: $35,561

10-year hold

• IRR: 21.7%
• Equity multiple: 2.85×
• Total profit: $123,394
• Equity at exit: $20,621

Cash invested: $66,780 (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 31904

• Rents YoY: 3.0%
• Active inventory: 327
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $3,518 high
• Mortgage (P&I): −$1,251
• Tax from tax record: −$294 /mo · $3,524/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$739
• Net cashflow: $1,135

Break-even live

Break-even rent $2,081

Max offer price $238,500

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2.5	$3,519
Total (3 units)			$3,518

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: $59,625
• Closing costs: $7,155
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2908 10th Ave Columbus, GA	3.0	2.0	2232	$2,000	$0.90	43d	1	0.05mi
1908 Garrard St Columbus, GA	4.0	2.0	1716	$1,600	$0.93	21d	1	1.01mi

Listing history 13 events

1. 2026-06-18
   days on market $238,500 Active 16 DOM
2. 2026-06-17
   days on market $238,500 Active 15 DOM
3. 2026-06-16
   days on market $238,500 Active 14 DOM
4. 2026-06-15
   days on market $238,500 Active 13 DOM
5. 2026-06-14
   days on market $238,500 Active 11 DOM
6. 2026-06-13
   days on market $238,500 Active 10 DOM
7. 2026-06-10
   days on market $238,500 Active 8 DOM
8. 2026-06-09
   days on market $238,500 Active 7 DOM
9. 2026-06-08
   days on market $238,500 Active 6 DOM
10. 2026-06-07
    days on market $238,500 Active 5 DOM
11. 2026-06-05
    days on market $238,500 Active 2 DOM
12. 2026-06-03
    remarks 699-char remark
13. 2026-06-03
    listed $238,500 Active 1 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: $3,524 · $294/mo
• Projected year-2 tax: $3,524 · $294/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 68% 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: $42,216
• − Mortgage interest: −$13,360
• − Property taxes: −$3,524
• − Insurance: −$1,192
• − Repairs & maintenance: −$3,377
• − Management: −$3,377
• − Depreciation: −$6,938
• Taxable income: $10,447
• Est. tax owed @ 24.0%: −$2,507
• After-tax cash flow: $11,118/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): 35,405
• Household income: $66,291
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 2030.0

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 0.60)
• Race & ethnicity: White 56% Black 28% Two or more races 8% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 4% Korean 1% German/W. Germanic 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: ▼ -152.06%
• Current HPI: 155.1405
• Rent YoY: ▲ 3.04%
• 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

+1092.5% since first listed

16 events — show timeline

• 2026-06-02 Listed $238,500 CBOR
• 2024-08-20 Sold (Public Records) $202,500 Public Records
• 2024-08-19 Sold (MLS) $202,500 CBOR
• 2024-07-15 Pending — CBOR
• 2024-07-01 Price Changed $190,000 CBOR
• 2024-06-14 Price Changed $193,000 CBOR
• 2024-05-10 Relisted — CBOR
• 2024-04-23 Pending — CBOR
• 2024-03-22 Listed $199,900 CBOR
• 2020-12-08 Sold (Public Records) $163,000 Public Records
• 2020-12-04 Sold (MLS) $163,000 CBOR
• 2020-10-28 Listed $169,000 CBOR
• 2020-03-12 Sold (Public Records) $34,000 Public Records
• 2020-03-09 Sold (MLS) $34,000 CBOR
• 2019-06-23 Listed $34,900 CBOR
• 2016-11-15 Sold (Public Records) $20,000 Public Records

Property tax history

+8.6%/yr

Latest (2025): $3,524 · +8.1% YoY. Source: county tax records.