2038 Wharton Dr · Augusta-Richmond County consolidated government (balance), GA 30904

$120,000

3 bd · 1.5 ba · 2,355 sqft · SingleFamily public records · 22 Days on market

Built 1959 0.39 ac lot $51/sqft · 33% below area Est $190k · 37% under

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Why this score? — see what drove the B 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Rent growth +3.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This single family brick ranch home would be perfect for a family or would be a great rental for investors. Located in the Glendale subdivision it is close to the medical district. The home is spacious with lots of storage. Fresh paint and new flooring. There are 3 bedrooms all with hardwood floors and 1.5 baths. Living room with hardwood floors, a Bonus room with new carpet and a huge 12x6 closet storage area (could also be a 4th bedroom), plus the garage was closed in for an additional Family room! The kitchen has new stainless steel appliances and lots of cabinet storage. Separate laundry room. Attached single carport with ramp up to the deck, spacious yard, storage buildings!

Key facts

• 0.39 acre lot
• Garage
• Built 1959

Property features AI

Finance

• HOA & community: Street lights in the community

Exterior

• Parking: Attached garage; Carport; Concrete parking surface
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Brick construction; Composition roof; Crawl space foundation; Built as residential single-family
• Exterior features: Deck; Front porch; Fenced yard; Other exterior features

Interior

• Kitchen: Built-in electric oven; Dishwasher
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl; Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating (electric); Central air conditioning
• Interior features: Built-in electric oven; Dishwasher; Electric water heater; Smoke detector(s)
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 5.3% in Augusta-Richmond County consolidated government (balance) — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Richmond County (urban): math 12% / reading 20% proficiency, ranked #154 of 174 in GA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wilkinson Gardens Elementary School (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 466 students, 98% FRL) — zoned schools average 98% FRL vs 72% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 222 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 561 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Richmond 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 + 4.3% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y ago; this cycle's ask has dropped $50k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $120k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.35% ✓
• Cap rate: 11.03%
• Cash-on-cash: 16.93%
• DSCR: 1.75
• GRM: 6.2

CMA / ARV

• ARV (median comp): $190,195
• List price: $120,000
• Delta: -36.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1460 Troupe St	0.56mi	3/2.0	2,478 (+5%)	12mo	$275,000	$111	53
1503 Wooten Road Rd	0.70mi	4/2.0 (+1)	2,025 (-14%)	14mo	$35,000	$17	26

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.38×
• Total profit: $12,897
• Equity at exit: $17,892

10-year hold

• IRR: 19.8%
• Equity multiple: 2.76×
• Total profit: $59,160
• Equity at exit: $10,375

Cash invested: $33,600 (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 30904

• Rents YoY: 4.3%
• Active inventory: 222
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,625 high
• Mortgage (P&I): −$629
• Tax from tax record: −$130 /mo · $1,565/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $474

Break-even live

Break-even rent $1,025

Max offer price $120,000

Occupancy floor 66%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2139 Holt St Augusta, GA	3.0	2.0	1611	$1,550	$0.96	43d	1	0.71mi
2139 Holt St Augusta, GA	3.0	2.0	1611	$1,475	$0.92	23d	1	0.71mi
1812 Slaton St Augusta, GA	2.0	2.0	1615	$1,665	$1.03	23d	10	0.83mi
1315 Merry St Augusta, GA	3.0	2.0	1610	$1,450	$0.90	23d	1	1.03mi
1861 Central Ave Unit A Augusta, GA	2.0	2.5	1611	$1,750	$1.09	43d	1	1.04mi
1861 Central Ave Unit A Augusta, GA	2.0	2.5	1611	$1,750	$1.09	23d	1	1.04mi
1917 Lazenby Dr Augusta, GA	3.0	2.0	1606	$1,300	$0.81	43d	1	1.20mi
1917 Lazenby Dr Augusta, GA	3.0	2.0	1606	$1,300	$0.81	44d	1	1.20mi
2140 Kelly St Augusta, GA	4.0	2.0	1650	$1,500	$0.91	43d	1	1.32mi

Listing history 23 events

1. 2026-06-03
   status $120,000 Pending 22 DOM
2. 2026-06-02
   days on market $120,000 Active 22 DOM
3. 2026-06-01
   days on market $120,000 Active 21 DOM
4. 2026-05-31
   days on market $120,000 Active 20 DOM
5. 2026-05-30
   days on market $120,000 Active 19 DOM
6. 2026-05-12
   price $120,000 566-char remark
7. 2026-03-17
   status Active
8. 2026-03-03
   historical
9. 2026-03-03
   status Pending
10. 2026-03-01
    status Active
11. 2026-02-17
    status Pending
12. 2026-01-08
    price $130,000
13. 2025-12-12
    listed $130,000 Active 566-char remark
14. 2025-12-12
    listed $170,000 Active
15. 2019-05-28
    soldstatus $64,000
16. 2019-05-21
    soldstatus $64,000

    Show marketing remark (690 chars)

    This single family brick ranch home would be perfect for a family or would be a great rental for investors. Located in the Glendale subdivision it is close to the medical district. The home is spacious with lots of storage. Fresh paint and new flooring. There are 3 bedrooms all with hardwood floors and 1.5 baths. Living room with hardwood floors, a Bonus room with new carpet and a huge 12x6 closet storage area (could also be a 4th bedroom), plus the garage was closed in for an additional Family room! The kitchen has new stainless steel appliances and lots of cabinet storage. Separate laundry room. Attached single carport with ramp up to the deck, spacious yard, storage buildings!

17. 2019-05-21
    soldstatus $64,000

    Show marketing remark (690 chars)

    This single family brick ranch home would be perfect for a family or would be a great rental for investors. Located in the Glendale subdivision it is close to the medical district. The home is spacious with lots of storage. Fresh paint and new flooring. There are 3 bedrooms all with hardwood floors and 1.5 baths. Living room with hardwood floors, a Bonus room with new carpet and a huge 12x6 closet storage area (could also be a 4th bedroom), plus the garage was closed in for an additional Family room! The kitchen has new stainless steel appliances and lots of cabinet storage. Separate laundry room. Attached single carport with ramp up to the deck, spacious yard, storage buildings!

18. 2019-04-11
    listed $63,900

    Show marketing remark (690 chars)

    This single family brick ranch home would be perfect for a family or would be a great rental for investors. Located in the Glendale subdivision it is close to the medical district. The home is spacious with lots of storage. Fresh paint and new flooring. There are 3 bedrooms all with hardwood floors and 1.5 baths. Living room with hardwood floors, a Bonus room with new carpet and a huge 12x6 closet storage area (could also be a 4th bedroom), plus the garage was closed in for an additional Family room! The kitchen has new stainless steel appliances and lots of cabinet storage. Separate laundry room. Attached single carport with ramp up to the deck, spacious yard, storage buildings!

19. 2019-04-11
    listed $63,900

    Show marketing remark (690 chars)

    This single family brick ranch home would be perfect for a family or would be a great rental for investors. Located in the Glendale subdivision it is close to the medical district. The home is spacious with lots of storage. Fresh paint and new flooring. There are 3 bedrooms all with hardwood floors and 1.5 baths. Living room with hardwood floors, a Bonus room with new carpet and a huge 12x6 closet storage area (could also be a 4th bedroom), plus the garage was closed in for an additional Family room! The kitchen has new stainless steel appliances and lots of cabinet storage. Separate laundry room. Attached single carport with ramp up to the deck, spacious yard, storage buildings!

20. 2018-10-25
    historical
21. 2018-10-25
    historical
22. 2018-09-15
    listed $33,500
23. 2018-09-15
    listed $33,500

ⓘ 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: $1,565 · $130/mo
• Projected year-2 tax: $1,565 · $130/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 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,501
• − Mortgage interest: −$6,722
• − Property taxes: −$1,565
• − Insurance: −$600
• − Repairs & maintenance: −$1,560
• − Management: −$1,560
• − Depreciation: −$3,491
• Taxable income: $4,003
• Est. tax owed @ 24.0%: −$961
• After-tax cash flow: $4,728/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: Richmond County
• NCES district ID: 1304380
• Math proficiency: 12% ▼ -9.00%
• Reading proficiency: 20% ▼ -6.00%
• Median HH income: $38,069
• Composite: 13.43/100
• National rank: #9524
• State rank: #154 of 174 in GA

Livability — Augusta-Richmond County consolidated government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Augusta-Richmond County consolidated government (balance), GA
• County: Richmond County · 190,917 people
• City population: 154,035
• Metro: Augusta-Richmond County, GA-SC
• Population (ZIP): 23,400
• Household income: $46,696
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 1594.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 200,753 people
• By 2030: 200,232 · -0.3%
• By 2040: 196,813 · -2.0%
• By 2050: 190,347 · -5.2%
• By 2075: 172,496 · -14.1%
• By 2100: 146,284 · -27.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 47% White 41% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Italian 1% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada, South Korea, Jamaica
• Languages at home: 93% English-only · Spanish 4% Korean 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+36.1) · D 67.8% · R 31.7%
• 2008→2024 swing: +4.3pp toward D · 2008: 31.8pp · 2024: 36.1pp
• All cycles: 2024: D+36.1 2020: D+37.2 2016: D+32.4 2012: D+33.8 2008: D+31.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.97%
• Current HPI: 199.0807
• Rent YoY: ▲ 4.29%
• Metro: Augusta-Richmond County, GA-SC
• 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

+258.2% since first listed

19 events — show timeline

• 2026-06-02 Pending — Hive MLS
• 2026-05-12 Price Changed $120,000 Hive MLS
• 2026-03-17 Relisted — Hive MLS
• 2026-03-03 Listing Removed — Hive MLS
• 2026-03-03 Pending — Hive MLS
• 2026-03-01 Relisted — Hive MLS
• 2026-02-17 Pending — Hive MLS
• 2026-01-08 Price Changed $130,000 Hive MLS
• 2025-12-12 Listed $170,000 Hive MLS
• 2025-12-12 Listed $130,000 Hive MLS
• 2019-05-28 Sold (Public Records) $64,000 Public Records
• 2019-05-21 Sold (MLS) $64,000 Hive MLS
• 2019-05-21 Sold (MLS) $64,000 Hive MLS
• 2019-04-11 Listed $63,900 Hive MLS
• 2019-04-11 Listed $63,900 Hive MLS
• 2018-10-25 Listing Removed — Hive MLS
• 2018-10-25 Listing Removed — Hive MLS
• 2018-09-15 Listed $33,500 Hive MLS
• 2018-09-15 Listed $33,500 Hive MLS

Property tax history

+9.0%/yr

Latest (2025): $1,565 · +3.5% YoY. Source: county tax records.