513 Whitney Ave · Albany, GA 31701

$29,900

3 bd · 2.0 ba · 1,784 sqft · MultiFamily public records · 15 Days on market

Built 1930 8,276 sqft lot

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Why this score? — see what drove the D 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
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

PRICE DROP FOR IMMEDIATE SALE! WOW! Rented Duplex (2 total units) that have great income. Property may be purchased as part of package (Other properties include 820 Corn Avenue and 822 Corn Avenue.) EXCELLENT investment opportunities. Current owner has made some substantial repairs to include a new roof on one unit, and new plumbing in another. Don't miss this opportunity!

Key facts

• 8,276 sq ft lot
• Built 1930
• Listed 15 days

Property features AI

Exterior

• Home design: Multi-family property
• Exterior features: Lot of approximately 8,276 sq ft

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $30k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $535/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $29k (1.5% below list) — sets the bar for market timing.
• Cap rate 49.2% vs local median 4.7% in Albany — 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 (#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; 4 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).
• At $1,620/mo this rent would consume 56% of the median local household income ($35k/yr) (locally 1383% 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 $207 of loan paydown is wiped out by about $897 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $8k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 97% 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 $29,451 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 5.42% ✓
• Cap rate: 49.24%
• Cash-on-cash: 153.40%
• DSCR: 7.83
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 8.57×
• Total profit: $63,343
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 18.08×
• Total profit: $143,034
• Equity at exit: $2,585

Cash invested: $8,372 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,620 high
• Mortgage (P&I): −$157
• Tax from tax record: −$40 /mo · $484/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $1,070

Break-even live

Break-even rent $265

Max offer price $29,900

Occupancy floor 29%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$1,620
Total (2 units)			$1,620

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	1.30mi
1107 N Madison St Albany, GA	2.0	2.0	1460	$1,375	$0.94	21d	1	1.33mi
1110 Rawson Dr Albany, GA	2.0	1.0	1300	$875	$0.67	21d	1	1.35mi
1111 N Madison St Albany, GA	2.0	1.0	1460	$875	$0.60	21d	1	1.37mi

Listing history 15 events

1. 2026-06-19
   days on market $29,900 Active 15 DOM
2. 2026-06-18
   days on market $29,900 Active 14 DOM
3. 2026-06-17
   days on market $29,900 Active 13 DOM
4. 2026-06-17
   remarks 279-char remark
5. 2026-06-17
   price $29,900 Active 12 DOM
6. 2026-06-16
   days on market $38,000 Active 12 DOM
7. 2026-06-15
   days on market $38,000 Active 11 DOM
8. 2026-06-14
   days on market $38,000 Active 9 DOM
9. 2026-06-13
   days on market $38,000 Active 8 DOM
10. 2026-06-10
    days on market $38,000 Active 6 DOM
11. 2026-06-09
    days on market $38,000 Active 5 DOM
12. 2026-06-08
    days on market $38,000 Active 4 DOM
13. 2026-06-07
    days on market $38,000 Active 3 DOM
14. 2026-06-05
    remarks 131-char remark
15. 2026-06-05
    listed $38,000 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: $484 · $40/mo
• Projected year-2 tax: $484 · $40/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 8/10 Severe 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 97% 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: $19,440
• − Mortgage interest: −$1,675
• − Property taxes: −$484
• − Insurance: −$150
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − Depreciation: −$870
• Taxable income: $13,151
• Est. tax owed @ 24.0%: −$3,156
• After-tax cash flow: $9,686/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

+171.4% since first listed

12 events — show timeline

• 2026-06-04 Listed $38,000 ForSaleByOwner.com
• 2025-07-09 Listing Removed — GAMLS
• 2025-04-23 Listed $60,000 GAMLS
• 2021-10-08 Sold (MLS) $30,000 FMLS
• 2021-09-08 Pending — FMLS
• 2021-09-06 Price Changed $35,000 FMLS
• 2021-08-26 Relisted — FMLS
• 2021-08-11 Contingent — FMLS
• 2021-08-03 Price Changed $46,900 FMLS
• 2021-07-18 Price Changed $129,900 FMLS
• 2021-06-19 Listed $135,000 FMLS
• 2020-02-14 Sold (Public Records) $14,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $484 · +6.1% YoY. Source: county tax records.