501/504 N Harding St · Albany, GA 31701

$129,900

3 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 63 Days on market

Built 1946 0.28 ac lot Est $139k · 7% under ↓ 53% since listing

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Why this score? — see what drove the F 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).

• ARV discount +10.5/15.0
• Cash flow +9.4/30.0
• Livability +3.0/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

ATTENTION INVESTORS ---- HARDING PACKAGE ---- THIS PACKAGE INCLUDES FOUR INVESTMENT UNITS!!! Addresses include: 501/503 N Harding Ave: 5 bedrooms, 2 bath DUPLEX (Two small single family homes that have been attached by a carport) 2,343 sq ft. CURRENTLY VACANT and in need of repairs/updating. Owner estimates repairs needed to get rent ready to be $5-$7k and is taking that into account with pricing of this package. * * * * 504 N Harding: 2 bedrooms, 1 bath. 945 sq ft. Rents for $595/month. * * * * * 1706 Ann Ave: 3 bedroom, 1 bath. 1059 sq ft. Rents for $600/month * * * * Information above including taxes, bedrooms and baths is for ALL homes combined. --- Total monthly rent p

Key facts

• 0.28 acre lot
• Built 1946
• Listed 63 days

Property features AI

Exterior

• Home design: Single-family detached residence; One-story
• Construction: Lot size approximately 0.28 acres
• Exterior features: Lot in the Palmyra Heights subdivision

Interior

• Bathrooms: 4 full bathrooms
• Interior features: Unbranded virtual tour available

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (26.3% below list).
• Recommended offer: $96k (26.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#371 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety B+; Watch: schools F, crime F, amenities F.
• Dougherty County (urban): math 12% / reading 16% proficiency, ranked #163 of 174 in GA (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 177 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 45 units permitted in Dougherty County in 2024 (20 in 5+ unit buildings).
• This rent runs 33% of the median local income ($35k/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 $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Dougherty County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 96% 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 $95,754 (26.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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 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: 0.74% ✗
• Cap rate: 5.43%
• Cash-on-cash: -3.10%
• DSCR: 0.86
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $139,230
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
908 W 2nd Ave	0.38mi	3/2.0	1,428 (+8%)	2mo	$149,900	$105	64

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.5%
• Equity multiple: 0.26×
• Total profit: $-27,040
• Equity at exit: $19,369

10-year hold

• IRR: -15.2%
• Equity multiple: 0.14×
• Total profit: $-31,301
• Equity at exit: $11,231

Cash invested: $36,372 (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 31701

• Home prices YoY: -27.3%
• Active inventory: 177
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $958 high
• Mortgage (P&I): −$681
• Tax from tax record: −$115 /mo · $1,379/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $-94

Break-even live

Break-even rent $1,076

Max offer price $113,325

Occupancy floor —

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
820 W 3rd Ave Albany, GA	2.0	1.0	1270	$700	$0.55	21d	1	0.42mi
1308 Maryland Dr Albany, GA	2.0	1.0	988	$750	$0.76	21d	1	0.65mi
1110 Rawson Dr Albany, GA	2.0	1.0	1300	$875	$0.67	21d	1	0.76mi
1107 N Madison St Albany, GA	2.0	2.0	1460	$1,375	$0.94	21d	1	0.76mi
1111 N Madison St Albany, GA	2.0	1.0	1460	$875	$0.60	21d	1	0.79mi
612 Florence Dr Albany, GA	3.0	1.0	1428	$1,200	$0.84	21d	1	0.81mi
903 7th Ave Apt A Albany, GA	2.0	1.0	912	$825	$0.90	21d	1	0.83mi
1314 9th Ave Albany, GA	3.0	1.0	1090	$1,000	$0.92	21d	1	1.17mi
1502 Gillespie Ave Albany, GA	3.0	1.0	1104	$875	$0.79	21d	1	1.29mi
1312 Colquitt Ave Albany, GA	3.0	1.0	1133	$900	$0.79	21d	1	1.49mi

Listing history 6 events

1. 2026-05-05
   price $129,900
2. 2026-04-02
   status Active
3. 2026-04-02
   price $159,900
4. 2026-02-18
   status Pending
5. 2026-01-29
   listed $169,900 Active
6. 2018-05-25
   soldstatus $275,000

ⓘ 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: $1,379 · $115/mo
• Projected year-2 tax: $1,379 · $115/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 96% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,490
• − Mortgage interest: −$7,276
• − Property taxes: −$1,379
• − Insurance: −$650
• − Repairs & maintenance: −$919
• − Management: −$919
• − Depreciation: −$3,779
• Taxable loss: −$3,432
• Est. tax savings @ 24.0%: +$824
• After-tax cash flow: $-302/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: Dougherty County
• NCES district ID: 1301830
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 16% ▼ -9.00%
• Median HH income: $33,105
• Composite: 11.31/100
• National rank: #9716
• State rank: #163 of 174 in GA

Livability — Albany

• Score: 60/100
• State rank: #371
• US rank: #18903

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albany, GA
• County: Dougherty County · 89,040 people
• City population: 89,040
• Metro: Albany, GA
• Population (ZIP): 16,135
• Household income: $35,025
• Rent vs Own: 66.9% rent · 33.1% own
• Severe rent burden: 1383.0

Population outlook (Dougherty County) Hauer SSP2

• Today (2025): 84,551 people
• By 2030: 80,637 · -4.6%
• By 2040: 72,090 · -14.7%
• By 2050: 64,056 · -24.2%
• By 2075: 46,332 · -45.2%
• By 2100: 33,127 · -60.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (74%)
• Race & ethnicity: Black 74% White 21% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Dougherty

• 2024 margin: Solid D (+41.1) · D 70.4% · R 29.3%
• 2008→2024 swing: +6.2pp toward D · 2008: 35.0pp · 2024: 41.1pp
• All cycles: 2024: D+41.1 2020: D+40.0 2016: D+38.3 2012: D+39.0 2008: D+35.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.55%
• Current HPI: 145.4604
• Rent YoY: —
• Metro: Albany, 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

-52.8% since first listed

6 events — show timeline

• 2026-05-05 Price Changed $129,900 SWGABOR
• 2026-04-02 Relisted — SWGABOR
• 2026-04-02 Price Changed $159,900 SWGABOR
• 2026-02-18 Pending — SWGABOR
• 2026-01-29 Listed $169,900 SWGABOR
• 2018-05-25 Sold (Public Records) $275,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $1,379 · +20.2% YoY. Source: county tax records.