228 Academy St · Americus, GA 31709

$87,000

2 bd · 1.0 ba · 1,252 sqft · SingleFamily public records · 55 Days on market

Built 1930 9,583 sqft lot $69/sqft · 40% above area Est $62k · 40% 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready home located at 228 Academy Street in Americus. This property offers a functional layout with potential for future improvements. Suitable for homeowners or investors seeking an opportunity to add value. Conveniently located near downtown, shopping, and local amenities. Buyer to verify all information.

Key facts

• 9,583 sq ft lot
• Built 1930
• Listed 54 days

Property features AI

Finance

• Other: Property listed by Radiant Real Estate Services
• HOA & community: No HOA; No association fee inclusions

Exterior

• Parking: Open parking; Parking pad
• Utilities: Public water; Public sewer; Sewer connected
• Home design: Single family residence; House; One level (single story); Built in 1930; Resale property; Located in the Eastview subdivision; Facing coordinates: -84.228413, 32.076369
• Construction: Aluminum siding; Vinyl siding; Built in 1930; Crawl space foundation; Other roof
• Exterior features: Aluminum and vinyl siding; Other-type roof; Crawl space basement; Lot has no special features

Interior

• Kitchen: Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Propane heating; Ceiling fans; Additional cooling system (other)
• Interior features: High ceilings; Separate dining room
• Laundry & utility: Laundry closet; Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $84k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 4.8% in Americus — 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 50/100 on livability (#582 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Sumter County (rural): math 7% / reading 11% proficiency, ranked #170 of 174 in GA (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 28 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 39 units permitted in Sumter County in 2024 (15 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $601 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Sumter County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $64k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,390 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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 1930 — 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. 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?
5. 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?
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: 1.21% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.73%
• DSCR: 1.61
• GRM: 6.9

CMA / ARV

• ARV (median comp): $62,064
• List price: $87,000
• Delta: 40.18%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
513 Mayo St	0.54mi	3/1.5 (+1)	1,344 (+7%)	14mo	$66,000	$49	44
234 E Church St	0.41mi	3/1.5 (+1)	1,125 (-10%)	16mo	$74,800	$66	44

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: 3.9%
• Equity multiple: 1.15×
• Total profit: $3,646
• Equity at exit: $12,972

10-year hold

• IRR: 13.4%
• Equity multiple: 2.07×
• Total profit: $25,986
• Equity at exit: $7,522

Cash invested: $24,360 (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 31709

• Home prices YoY: -26.8%
• Active inventory: 28
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,054 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$61 /mo · $736/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $279

Break-even live

Break-even rent $701

Max offer price $87,000

Occupancy floor 69%

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
703 Adderton St Unit B Americus, GA	2.0	1.0	1200	$1,054	$0.88	21d	1	1.07mi

Listing history 19 events

1. 2026-06-18
   days on market $87,000 Active 55 DOM
2. 2026-06-17
   days on market $87,000 Active 54 DOM
3. 2026-06-16
   days on market $87,000 Active 53 DOM
4. 2026-06-15
   days on market $87,000 Active 52 DOM
5. 2026-06-13
   days on market $87,000 Active 50 DOM
6. 2026-06-12
   days on market $87,000 Active 49 DOM
7. 2026-06-09
   days on market $87,000 Active 46 DOM
8. 2026-06-08
   days on market $87,000 Active 45 DOM
9. 2026-06-07
   days on market $87,000 Active 44 DOM
10. 2026-06-07
    days on market $87,000 Active 43 DOM
11. 2026-06-04
    days on market $87,000 Active 40 DOM
12. 2026-06-02
    days on market $87,000 Active 39 DOM
13. 2026-06-01
    days on market $87,000 Active 38 DOM
14. 2026-05-31
    days on market $87,000 Active 37 DOM
15. 2026-05-31
    days on market $87,000 Active 36 DOM
16. 2026-03-30
    listed $91,000 New 316-char remark
17. 2023-04-18
    soldstatus $63,500
18. 2016-12-06
    soldstatus $5,250 580-char remark

    Show marketing remark (580 chars)

    A Cute American Bungalow styled home in Americus! This home represents early 20th century architecture. A charming rocking chair front porch, high ceilings, large spacious rooms, a big country kitchen and a formal dining room. Two old period French doors separate the foyer area from the rest of the home. So much to love about this traditional beauty. Needs a bit of fixing up, but truly has fantastic potential. Enjoy the expansive, fenced, backyard with a storage shed left on the property just for the new owners. Come see this great value today! Property is being sold As-Is.

19. 2016-07-27
    listed $7,500 580-char remark

    Show marketing remark (580 chars)

    A Cute American Bungalow styled home in Americus! This home represents early 20th century architecture. A charming rocking chair front porch, high ceilings, large spacious rooms, a big country kitchen and a formal dining room. Two old period French doors separate the foyer area from the rest of the home. So much to love about this traditional beauty. Needs a bit of fixing up, but truly has fantastic potential. Enjoy the expansive, fenced, backyard with a storage shed left on the property just for the new owners. Come see this great value today! Property is being sold As-Is.

ⓘ 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: $736 · $61/mo
• Projected year-2 tax: $800 · $67/mo
• Expected delta: +$64/yr (+$5/mo · 8.7%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,648
• − Mortgage interest: −$4,873
• − Property taxes: −$736
• − Insurance: −$435
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − Depreciation: −$2,531
• Taxable income: $2,049
• Est. tax owed @ 24.0%: −$492
• After-tax cash flow: $2,854/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: Sumter County
• NCES district ID: 1304620
• Math proficiency: 7% ▼ -15.00%
• Reading proficiency: 11% ▼ -11.00%
• Median HH income: $33,494
• Composite: 7.21/100
• National rank: #9961
• State rank: #170 of 174 in GA

Livability — Americus

• Score: 50/100
• State rank: #582
• US rank: #25593

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Americus, GA
• Population (ZIP): 14,966

Population outlook (Sumter County) Hauer SSP2

• Today (2025): 26,953 people
• By 2030: 24,861 · -7.8%
• By 2040: 20,500 · -23.9%
• By 2050: 16,694 · -38.1%
• By 2075: 9,901 · -63.3%
• By 2100: 5,570 · -79.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 49% White 40% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Iranian 2% Slovak 2% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Sumter

• 2024 margin: Toss-up / Even · D 50.9% · R 48.7%
• 2008→2024 swing: -3.8pp toward R · 2008: 6.0pp · 2024: 2.2pp
• All cycles: 2024: D+2.2 2020: D+4.8 2016: D+2.2 2012: D+8.4 2008: D+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.58%
• Current HPI: 154.3605
• 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

+1060.0% since first listed

6 events — show timeline

• 2026-05-22 Price Changed $87,000 GAMLS
• 2026-04-24 Listed $87,000 CBOR
• 2026-03-30 Listed $91,000 GAMLS
• 2023-04-18 Sold (Public Records) $63,500 Public Records
• 2016-12-06 Sold (MLS) $5,250 GAMLS
• 2016-07-27 Listed $7,500 GAMLS

Property tax history

+9.0%/yr

Latest (2025): $736 · -6.2% YoY. Source: county tax records.