515 SE 5th Ave Unit * · Moultrie, GA 31768

$335,000

8 bd · 4.0 ba · 3,870 sqft · MultiFamily public records · 65 Days on market

Built 1940 Good condition 10,629 sqft lot $87/sqft · 31% above area Est $256k · 31% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.0/5.0
• Rent growth +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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Strong investment opportunity in the heart of Moultrie, GA! 515 5th Avenue SE is a solid masonry-built quadplex featuring four spacious 2BR/1BA units (950 sq ft each). Units lease at $900/unit and significant upside with market comparables supporting $1,200/unit. Each unit is individually metered and direct billed by utility companies. Tenants enjoy ample off-street parking and a central location just blocks from historic downtown Moultrie - close to shopping, restaurants, major employers, schools, churches, and entertainment. Perfect for investors seeking stable cash flow with value-add potential, or for owner-occupants who want to live in one unit and lease the other three to offset or even eliminate housing costs. This quadplex can be purchased individually or as part of a package deal with two other sister quad properties owned by the same seller - one next door and another just blocks away (521 5th Avenue SE, MLS # & 713 5th Avenue SE, MLS # ). Moultrie / Colquitt County is thriving and the leader for steady growth in southwest Georgia. Close to Interstate(s) I-75 and I-10 and growth-minded leadership make the community a favorable place for professionals and families seeking convenience and value in a small town setting.

Key facts

• Individually metered
• Value-add potential
• Central location

Tags

• SOLID MASONRY-BUILT QUADPLEX
• FOUR SPACIOUS UNITS
• INDIVIDUALLY METERED
• AMPLE OFF-STREET PARKING
• CENTRAL LOCATION
• VALUE-ADD POTENTIAL

What this means for you Summary

Snapshot

• This is a 4 × 2.0-bed/1.0-bath units multifamily listed at $335k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $589/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $335k).
• Recommended offer: $315k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 4.4% in Moultrie — 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 60/100 on livability (#374 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, commute F.
• Colquitt County (town): math 29% / reading 25% proficiency, ranked #117 of 174 in GA (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 138 active listings in the ZIP; 94 units permitted in Colquitt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Colquitt County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $94k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $267k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $314,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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 1940 — 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: 1.65% ✓
• Cap rate: 14.73%
• Cash-on-cash: 30.13%
• DSCR: 2.34
• GRM: 5.1

CMA / ARV

• ARV (median comp): $256,276
• List price: $335,000
• Delta: 30.72%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 24.7%
• Equity multiple: 2.02×
• Total profit: $95,602
• Equity at exit: $49,950

10-year hold

• IRR: 32.5%
• Equity multiple: 3.94×
• Total profit: $275,945
• Equity at exit: $28,965

Cash invested: $93,800 (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 31768

• Home prices YoY: -33.0%
• Active inventory: 138
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $5,513 medium
• Mortgage (P&I): −$1,757
• Tax from tax record: −$104 /mo · $1,246/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,158
• Net cashflow: $2,355

Break-even live

Break-even rent $2,532

Max offer price $335,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2.0	1	$5,512
Total (4 units)			$5,513

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $335,000 Active 65 DOM
2. 2026-06-17
   price $335,000 Active 64 DOM
3. 2026-06-17
   days on market $349,000 Active 64 DOM
4. 2026-06-16
   days on market $349,000 Active 63 DOM
5. 2026-06-15
   days on market $349,000 Active 62 DOM
6. 2026-06-13
   days on market $349,000 Active 60 DOM
7. 2026-06-12
   days on market $349,000 Active 59 DOM
8. 2026-06-09
   days on market $349,000 Active 56 DOM
9. 2026-06-08
   days on market $349,000 Active 55 DOM
10. 2026-06-07
    days on market $349,000 Active 54 DOM
11. 2026-06-07
    days on market $349,000 Active 53 DOM
12. 2026-06-04
    days on market $349,000 Active 50 DOM
13. 2026-06-02
    days on market $349,000 Active 49 DOM
14. 2026-06-01
    days on market $349,000 Active 48 DOM
15. 2026-05-31
    days on market $349,000 Active 47 DOM
16. 2026-05-31
    days on market $349,000 Active 46 DOM
17. 2026-04-14
    listed $349,000 Active 1254-char remark

    Show marketing remark (1254 chars)

    Strong investment opportunity in the heart of Moultrie, GA! 515 5th Avenue SE is a solid masonry-built quadplex featuring four spacious 2BR/1BA units (950 sq ft each). Units lease at $900/unit and significant upside with market comparables supporting $1,200/unit. Each unit is individually metered and direct billed by utility companies. Tenants enjoy ample off-street parking and a central location just blocks from historic downtown Moultrie - close to shopping, restaurants, major employers, schools, churches, and entertainment. Perfect for investors seeking stable cash flow with value-add potential, or for owner-occupants who want to live in one unit and lease the other three to offset or even eliminate housing costs. This quadplex can be purchased individually or as part of a package deal with two other sister quad properties owned by the same seller - one next door and another just blocks away (521 5th Avenue SE, MLS # & 713 5th Avenue SE, MLS # ). Moultrie / Colquitt County is thriving and the leader for steady growth in southwest Georgia. Close to Interstate(s) I-75 and I-10 and growth-minded leadership make the community a favorable place for professionals and families seeking convenience and value in a small town setting.

18. 2024-07-30
    soldstatus $266,667
19. 2006-02-07
    soldstatus $325,000

ⓘ 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: $1,246 · $104/mo
• Projected year-2 tax: $3,082 · $257/mo
• Expected delta: +$1,836/yr (+$153/mo · 147.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $66,156
• − Mortgage interest: −$18,765
• − Property taxes: −$1,246
• − Insurance: −$1,675
• − Repairs & maintenance: −$5,292
• − Management: −$5,292
• − Depreciation: −$9,745
• Taxable income: $24,140
• Est. tax owed @ 24.0%: −$5,793
• After-tax cash flow: $22,468/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with minimal repairs needed. It offers a solid investment opportunity with potential for rental value increase.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and adds to overall appearance

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and adds to overall appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Colquitt County
• NCES district ID: 1301380
• Math proficiency: 29% ▼ -7.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $32,950
• Composite: 22.11/100
• National rank: #8176
• State rank: #117 of 174 in GA

Livability — Moultrie

• Score: 60/100
• State rank: #374
• US rank: #18973

Category grades

Amenities C+ Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moultrie, GA
• Population (ZIP): 21,281

Population outlook (Colquitt County) Hauer SSP2

• Today (2025): 46,043 people
• By 2030: 45,757 · -0.6%
• By 2040: 44,929 · -2.4%
• By 2050: 43,901 · -4.7%
• By 2075: 40,831 · -11.3%
• By 2100: 37,986 · -17.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 51% Black 33% Hispanic / Latino 14% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1% Cuban 2%
• Common ancestry: Serbian 1% Italian 1% Lithuanian 1%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Spanish 13% German/W. Germanic 1%

Political lean MEDSL · Colquitt

• 2024 margin: Solid R (+50.2) · D 24.8% · R 75.0%
• 2008→2024 swing: -12.6pp toward R · 2008: -37.6pp · 2024: -50.2pp
• All cycles: 2024: R+50.2 2020: R+47.2 2016: R+47.3 2012: R+39.6 2008: R+37.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.21%
• Current HPI: 188.988
• Rent YoY: —
• Metro: —
• 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

+7.4% since first listed

3 events — show timeline

• 2026-04-14 Listed $349,000 SGMLS
• 2024-07-30 Sold (Public Records) $266,667 Public Records
• 2006-02-07 Sold (Public Records) $325,000 Public Records

Property tax history

-3.5%/yr

Latest (2025): $1,246 · -4.6% YoY. Source: county tax records.