2608 Millerfield Rd · Macon-Bibb County, GA 31217

$20,000

2 bd · 1.0 ba · 1,735 sqft · SingleFamily public records · 38 Days on market

Built 1942 $12/sqft · 88% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

As-is estate property with 1.59 acres in Macon. This 2-bedroom, 1-bath home sits on a generously sized lot and is being sold strictly as-is. The home is in very poor condition, has been vacant, and will need substantial repairs. Property may be best suited for an investor, contractor, or buyer looking for a land-value or redevelopment opportunity. Seller will make no repairs or improvements. Great potential for someone with vision.

Key facts

• 1.59 acres
• Generously sized lot
• Great potential

Tags

• 1.59 ACRES
• GENEROUSLY SIZED LOT
• REDEVELOPMENT OPPORTUNITY
• GREAT POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $759 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• Cap rate 51.8% 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 C — 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.
• Market conditions: Rents rising fast (+10.8%/yr); 122 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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).
• This rent runs 31% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($138 loan paydown + $862 appreciation (4.3% local appreciation)).
• Bibb County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.3% appreciation + 8.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $19,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 5.74% ✓
• Cap rate: 51.83%
• Cash-on-cash: 162.64%
• DSCR: 8.24
• GRM: 1.5

CMA / ARV

• ARV (median comp): $168,157
• List price: $20,000
• Delta: -88.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
896 Roseview Dr	0.61mi	3/2.0 (+1)	1,695 (-2%)	2mo	$40,000	$24	57
3119 Imperial Dr	0.61mi	3/1.5 (+1)	1,911 (+10%)	2mo	$130,000	$68	46
1958 Pine Hl	0.61mi	2/2.0	1,783 (+3%)	22mo	$188,500	$106	45
3048 Bethune Ave	0.54mi	3/2.5 (+1)	1,914 (+10%)	6mo	$155,000	$81	42
3121 Wedgewood Dr	0.62mi	3/2.0 (+1)	1,957 (+13%)	16mo	$159,000	$81	27
3067 Bethune Ave	0.59mi	3/2.0 (+1)	1,485 (-14%)	23mo	$152,000	$102	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.31% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.40×
• Total profit: $58,265
• Equity at exit: $10,507

10-year hold

• IRR: —
• Equity multiple: 27.67×
• Total profit: $149,350
• Equity at exit: $17,485

Cash invested: $5,600 (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 31217

• Home prices YoY: 2.1%
• Rents YoY: 10.8%
• Active inventory: 122
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,148 high
• Mortgage (P&I): −$105
• Tax from tax record: −$35 /mo · $421/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $759

Break-even live

Break-even rent $188

Max offer price $20,000

Occupancy floor 29%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2055 Pine Hill Dr Macon, GA	2.0	1.0	1056	$775	$0.73	21d	1	0.42mi
2623 Flewellyn Ct Macon, GA	3.0	2.0	1705	$1,750	$1.03	13d	1	0.52mi
3240 Commodore Dr Macon, GA	3.0	1.5	1135	$1,200	$1.06	43d	1	0.80mi
3240 Commodore Dr Macon, GA	3.0	1.5	1135	$1,200	$1.06	13d	1	0.80mi
1918 Fairway Dr Macon, GA	3.0	1.0	1228	$975	$0.79	21d	1	0.97mi
1143 Sunnydale Dr Macon, GA	3.0	1.0	1053	$975	$0.93	43d	1	0.98mi
2867 New Clinton Rd Macon, GA	3.0	1.0	1350	$1,100	$0.81	13d	1	0.98mi
2621 Jeffersonville Rd Unit 23 Macon, GA	3.0	2.0	1152	$1,150	$1.00	43d	1	1.02mi
2621 Jeffersonville Rd Unit 42 Macon, GA	3.0	2.0	1152	$1,081	$0.94	43d	1	1.02mi
2621 Jeffersonville Rd Unit 68 Macon, GA	3.0	2.0	1056	$1,050	$0.99	43d	1	1.02mi
2871 New Clinton Rd Macon, GA	3.0	1.0	1100	$1,100	$1.00	43d	1	1.02mi
3358 Club Dr Macon, GA	3.0	1.5	1218	$900	$0.74	43d	1	1.16mi
3347 Thunderbird Rd Macon, GA	3.0	2.0	1268	$850	$0.67	44d	1	1.23mi
854 Trinity Pl Macon, GA	2.0	1.0	1260	$875	$0.69	43d	1	1.39mi

Listing history 17 events

1. 2026-06-19
   days on market $20,000 Active 38 DOM
2. 2026-06-18
   days on market $20,000 Active 37 DOM
3. 2026-06-17
   days on market $20,000 Active 36 DOM
4. 2026-06-16
   days on market $20,000 Active 35 DOM
5. 2026-06-15
   days on market $20,000 Active 34 DOM
6. 2026-06-14
   days on market $20,000 Active 32 DOM
7. 2026-06-13
   days on market $20,000 Active 31 DOM
8. 2026-06-10
   days on market $20,000 Active 29 DOM
9. 2026-06-09
   days on market $20,000 Active 28 DOM
10. 2026-06-09
    days on market $20,000 Active 27 DOM
11. 2026-06-07
    days on market $20,000 Active 26 DOM
12. 2026-06-03
    days on market $20,000 Active 22 DOM
13. 2026-06-02
    days on market $20,000 Active 21 DOM
14. 2026-06-01
    days on market $20,000 Active 20 DOM
15. 2026-05-31
    days on market $20,000 Active 19 DOM
16. 2026-05-30
    days on market $20,000 Active 18 DOM
17. 2026-05-12
    listed $20,000 Active 435-char remark

ⓘ 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: $421 · $35/mo
• Projected year-2 tax: $421 · $35/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,781
• − Mortgage interest: −$1,120
• − Property taxes: −$421
• − Insurance: −$100
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$582
• Taxable income: $9,353
• Est. tax owed @ 24.0%: −$2,245
• After-tax cash flow: $6,863/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): 17,732
• Household income: $44,809
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 391.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% White 38% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

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: ▲ 4.31%
• Current HPI: 209.9166
• Rent YoY: ▲ 10.85%
• 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

1 event — show timeline

• 2026-05-12 Listed $20,000 FSBO.com

Property tax history

+5.2%/yr

Latest (2025): $421 · -39.8% YoY. Source: county tax records.