1702 Albany Ave · Waycross, GA 31503

$138,000

3 bd · 3.0 ba · 1,880 sqft · SingleFamily public records · 202 Days on market

Built 1930 0.87 ac lot $73/sqft · 11% below area Est $159k · 13% under

---

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 +17.6/30.0
• ARV discount +13.3/15.0
• DSCR +5.5/10.0
• 1% rule +3.6/10.0
• Livability +2.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime Investment Opportunity - Income-Producing Triplex with Expansion Potential! Discover a chance to own a high-performing multi-family triplex. Whether you're expanding your portfolio or stepping into your first investment property, this asset checks the right boxes for steady cash flow and long-term upside. Each unit is 1 bed, 1 bath, with a Kitchen, Living Room and separate entries for each. But even better-the lot offers the potential to be subdivided into a separate address, opening the door to build an additional duplex for extra rental income. With guidance from a civil engineer or surveyor to confirm setbacks, investors can unlock significant added value. This property is serviced by public water and sewer, a major advantage for low-maintenance ownership and future development. Tenants enjoy the convenience of all utilities included in rent, and a full expense spreadsheet is available, providing transparency and confidence for any buyer evaluating returns. This multifamily unit is perfect for buy-and-hold investors, long-term planners, or anyone seeking strong cash flow with room to grow. Contact your agent for showing instructions today.

Key facts

• Multi-family triplex
• 0.87 acre lot
• Built 1930

Tags

• INCOME-PRODUCING TRIPLEX
• MULTI-FAMILY TRIPLEX
• PUBLIC WATER AND SEWER
• ALL UTILITIES INCLUDED

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (13.8% below list).
• Recommended offer: $119k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 5.1% in Waycross — 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 55/100 on livability (#519 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D-, crime F.
• Ware County (town): math 27% / reading 35% proficiency, ranked #95 of 174 in GA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 146 active listings in the ZIP; 45 units permitted in Ware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $954 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ware County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $24k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $79k; list at $138k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,944 (13.8% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 14% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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. 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.
8. 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.
9. 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: 0.86% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 9.7

CMA / ARV

• ARV (median comp): $158,558
• List price: $138,000
• Delta: -12.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1602 Lamar Ave	0.27mi	3/2.0	1,889 (+0%)	8mo	$180,000	$95	76
1067 Stanton Ave	0.51mi	3/2.0	1,732 (-8%)	14mo	$157,000	$91	48
1068 Lake St	0.57mi	4/2.0 (+1)	1,924 (+2%)	23mo	$227,999	$119	41
1300 Stanton Ave	0.60mi	3/2.0	1,633 (-13%)	7mo	$206,000	$126	41
1425 Pine St	0.64mi	3/2.0	1,657 (-12%)	15mo	$176,000	$106	34

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-15,490
• Equity at exit: $20,576

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-4,799
• Equity at exit: $11,932

Cash invested: $38,640 (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 31503

• Home prices YoY: -24.9%
• Active inventory: 146
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,189 medium
• Mortgage (P&I): −$724
• Tax from tax record: −$50 /mo · $596/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $109

Break-even live

Break-even rent $1,052

Max offer price $138,000

Occupancy floor 86%

Sensitivity live

Price	-10% $187	-5% $148	+0% $109	+5% $70	+10% $31
Rent	-10% $15	-5% $62	+0% $109	+5% $156	+10% $203
Rate	-1.0pp $178	-0.5pp $144	base $109	+0.5pp $73	+1.0pp $37

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-15
   days on market $138,000 Active 202 DOM
2. 2026-06-13
   days on market $138,000 Active 200 DOM
3. 2026-06-12
   days on market $138,000 Active 199 DOM
4. 2026-06-09
   days on market $138,000 Active 196 DOM
5. 2026-06-08
   days on market $138,000 Active 195 DOM
6. 2026-06-07
   days on market $138,000 Active 194 DOM
7. 2026-06-04
   days on market $138,000 Active 190 DOM
8. 2026-06-02
   days on market $138,000 Active 189 DOM
9. 2026-06-01
   days on market $138,000 Active 188 DOM
10. 2026-05-31
    days on market $138,000 Active 187 DOM
11. 2026-05-31
    days on market $138,000 Active 186 DOM
12. 2026-05-04
    price $138,000 1168-char remark

    Show marketing remark (1168 chars)

    Prime Investment Opportunity - Income-Producing Triplex with Expansion Potential! Discover a chance to own a high-performing multi-family triplex. Whether you're expanding your portfolio or stepping into your first investment property, this asset checks the right boxes for steady cash flow and long-term upside. Each unit is 1 bed, 1 bath, with a Kitchen, Living Room and separate entries for each. But even better-the lot offers the potential to be subdivided into a separate address, opening the door to build an additional duplex for extra rental income. With guidance from a civil engineer or surveyor to confirm setbacks, investors can unlock significant added value. This property is serviced by public water and sewer, a major advantage for low-maintenance ownership and future development. Tenants enjoy the convenience of all utilities included in rent, and a full expense spreadsheet is available, providing transparency and confidence for any buyer evaluating returns. This multifamily unit is perfect for buy-and-hold investors, long-term planners, or anyone seeking strong cash flow with room to grow. Contact your agent for showing instructions today.

13. 2026-02-20
    price $138,000 1165-char remark

    Show marketing remark (1165 chars)

    Prime Investment Opportunity - Income-Producing Triplex with Expansion Potential! Discover a chance to own a high-performing multi-family triplex. Whether you're expanding your portfolio or stepping into your first investment property, this asset checks the right boxes for steady cash flow and long-term upside. Each unit is 1 bed, 1 bath, with a Kitchen, Living Room and separate entries for each. But even better-the lot offers the potential to be subdivided into a separate address, opening the door to build an additional home for extra rental income. With guidance from a civil engineer or surveyor to confirm setbacks, investors can unlock significant added value. This property is serviced by public water and sewer, a major advantage for low-maintenance ownership and future development. Tenants enjoy the convenience of all utilities included in rent, and a full expense spreadsheet is available, providing transparency and confidence for any buyer evaluating returns. This multifamily unit is perfect for buy-and-hold investors, long-term planners, or anyone seeking strong cash flow with room to grow. Contact your agent for showing instructions today.

14. 2026-01-30
    price $148,500 1165-char remark

    Show marketing remark (1165 chars)

    Prime Investment Opportunity - Income-Producing Triplex with Expansion Potential! Discover a chance to own a high-performing multi-family triplex. Whether you're expanding your portfolio or stepping into your first investment property, this asset checks the right boxes for steady cash flow and long-term upside. Each unit is 1 bed, 1 bath, with a Kitchen, Living Room and separate entries for each. But even better-the lot offers the potential to be subdivided into a separate address, opening the door to build an additional home for extra rental income. With guidance from a civil engineer or surveyor to confirm setbacks, investors can unlock significant added value. This property is serviced by public water and sewer, a major advantage for low-maintenance ownership and future development. Tenants enjoy the convenience of all utilities included in rent, and a full expense spreadsheet is available, providing transparency and confidence for any buyer evaluating returns. This multifamily unit is perfect for buy-and-hold investors, long-term planners, or anyone seeking strong cash flow with room to grow. Contact your agent for showing instructions today.

15. 2025-11-25
    listed $162,000 Active 1165-char remark

    Show marketing remark (1165 chars)

    Prime Investment Opportunity - Income-Producing Triplex with Expansion Potential! Discover a chance to own a high-performing multi-family triplex. Whether you're expanding your portfolio or stepping into your first investment property, this asset checks the right boxes for steady cash flow and long-term upside. Each unit is 1 bed, 1 bath, with a Kitchen, Living Room and separate entries for each. But even better-the lot offers the potential to be subdivided into a separate address, opening the door to build an additional home for extra rental income. With guidance from a civil engineer or surveyor to confirm setbacks, investors can unlock significant added value. This property is serviced by public water and sewer, a major advantage for low-maintenance ownership and future development. Tenants enjoy the convenience of all utilities included in rent, and a full expense spreadsheet is available, providing transparency and confidence for any buyer evaluating returns. This multifamily unit is perfect for buy-and-hold investors, long-term planners, or anyone seeking strong cash flow with room to grow. Contact your agent for showing instructions today.

16. 2025-11-24
    listed $162,000 New 1168-char remark

    Show marketing remark (1168 chars)

    Prime Investment Opportunity - Income-Producing Triplex with Expansion Potential! Discover a chance to own a high-performing multi-family triplex. Whether you're expanding your portfolio or stepping into your first investment property, this asset checks the right boxes for steady cash flow and long-term upside. Each unit is 1 bed, 1 bath, with a Kitchen, Living Room and separate entries for each. But even better-the lot offers the potential to be subdivided into a separate address, opening the door to build an additional duplex for extra rental income. With guidance from a civil engineer or surveyor to confirm setbacks, investors can unlock significant added value. This property is serviced by public water and sewer, a major advantage for low-maintenance ownership and future development. Tenants enjoy the convenience of all utilities included in rent, and a full expense spreadsheet is available, providing transparency and confidence for any buyer evaluating returns. This multifamily unit is perfect for buy-and-hold investors, long-term planners, or anyone seeking strong cash flow with room to grow. Contact your agent for showing instructions today.

17. 2025-08-04
    soldstatus $79,000 Closed
18. 2025-07-29
    status Pending
19. 2025-07-21
    listed $89,900 Active

ⓘ 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: $596 · $50/mo
• Projected year-2 tax: $1,270 · $106/mo
• Expected delta: +$674/yr (+$56/mo · 113.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,273
• − Mortgage interest: −$7,730
• − Property taxes: −$596
• − Insurance: −$690
• − Repairs & maintenance: −$1,142
• − Management: −$1,142
• − Depreciation: −$4,015
• Taxable loss: −$1,041
• Est. tax savings @ 24.0%: +$250
• After-tax cash flow: $1,556/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: Ware County
• NCES district ID: 1305430
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -12.00%
• Median HH income: $35,231
• Composite: 25.6/100
• National rank: #7415
• State rank: #95 of 174 in GA

Livability — Waycross

• Score: 55/100
• State rank: #519
• US rank: #23458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 36,207
• Population (ZIP): 23,173

Population outlook (Ware County) Hauer SSP2

• Today (2025): 33,313 people
• By 2030: 32,071 · -3.7%
• By 2040: 29,587 · -11.2%
• By 2050: 27,197 · -18.4%
• By 2075: 22,323 · -33.0%
• By 2100: 18,197 · -45.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 21% Hispanic / Latino 7% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 1% Serbian 1% Slovak 1%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Ware

• 2024 margin: Solid R (+43.1) · D 28.3% · R 71.4%
• 2008→2024 swing: -8.7pp toward R · 2008: -34.5pp · 2024: -43.1pp
• All cycles: 2024: R+43.1 2020: R+40.4 2016: R+41.7 2012: R+33.9 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.44%
• Current HPI: 230.6527
• 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

+53.5% since first listed

8 events — show timeline

• 2026-05-04 Price Changed $138,000 GAMLS
• 2026-02-20 Price Changed $138,000 GIAR
• 2026-01-30 Price Changed $148,500 GIAR
• 2025-11-25 Listed $162,000 GIAR
• 2025-11-24 Listed $162,000 GAMLS
• 2025-08-04 Sold (MLS) $79,000 GIAR
• 2025-07-29 Pending — GIAR
• 2025-07-21 Listed $89,900 GIAR