946 Ponce De Leon Cir · Macon-Bibb County, GA 31206

$18,000

2 bd · 1.0 ba · 973 sqft · SingleFamily public records · 220 Days on market

Built 1942 0.25 ac lot $18/sqft · 53% below area ↓ 34% since listing

---

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
• Rent growth +3.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special! This property is being sold AS-IS and is in need of full renovation. Great opportunity to bring your vision and restore this home to its full potential. Spacious layout with plenty of room to reconfigure. Large lot provides endless possibilities. Perfect for rehabbers, flippers, or anyone looking for a fixer-upper project. Cash only.

Key facts

• Large lot
• Full renovation
• Spacious layout

Tags

• FULL RENOVATION
• SPACIOUS LAYOUT
• LARGE LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $18k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($961 rent vs $18k).
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.
• Cap rate 46.7% vs local median 5.4% in Macon-Bibb County — 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 D — affects rentability + tenant quality, not the cash-flow math above.
• Bibb County (urban): math 11% / reading 18% proficiency, ranked #161 of 174 in GA (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.0%/yr); 209 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 154 units permitted in Bibb County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($30k/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 $124 of loan paydown is wiped out by about $540 of value loss. Plan a longer hold.
• Bibb County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $12k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% 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 $15,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 5.34% ✓
• Cap rate: 46.75%
• Cash-on-cash: 144.48%
• DSCR: 7.43
• GRM: 1.6

CMA / ARV

• ARV (median comp): $38,520
• List price: $18,000
• Delta: -53.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1162 Ruben Drive Dr Unit m	0.46mi	2/1.0	960 (-1%)	8mo	$19,500	$20	70
1162 Ruben Dr	0.46mi	2/1.0	960 (-1%)	8mo	$19,500	$20	70
575 Cleveland St	0.53mi	3/1.0 (+1)	988 (+2%)	1mo	$62,000	$63	67
1118 N Beddingfield Dr	0.52mi	3/1.0 (+1)	988 (+2%)	10mo	$62,500	$63	60
826 W Grenada Ter	0.46mi	2/1.0	1,075 (+10%)	4mo	$35,000	$33	58
594 Grenada Ter	0.62mi	2/1.0	1,016 (+4%)	12mo	$65,000	$64	53
3158 Brownell Ave	0.44mi	2/1.0	832 (-14%)	6mo	$39,000	$47	50
1071 Sylvian Dr	0.74mi	3/1.0 (+1)	1,001 (+3%)	9mo	$53,000	$53	48
3229 Harrel St	0.40mi	3/2.5 (+1)	1,064 (+9%)	8mo	$6,200	$6	48
1138 Newberg Ave	0.47mi	3/1.0 (+1)	1,106 (+14%)	6mo	$82,000	$74	45
569 Grenada Ter	0.65mi	2/1.0	832 (-14%)	2mo	$43,000	$52	44
1151 N Beddingfield Dr	0.55mi	3/1.0 (+1)	1,080 (+11%)	9mo	$125,000	$116	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 · 5.03% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.49×
• Total profit: $37,766
• Equity at exit: $2,684

10-year hold

• IRR: —
• Equity multiple: 19.12×
• Total profit: $91,348
• Equity at exit: $1,556

Cash invested: $5,040 (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 31206

• Rents YoY: 5.0%
• Active inventory: 209
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $961 high
• Mortgage (P&I): −$94
• Tax from tax record: −$51 /mo · $606/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $607

Break-even live

Break-even rent $193

Max offer price $18,000

Occupancy floor 32%

Sensitivity live

Price	-10% $617	-5% $612	+0% $607	+5% $602	+10% $597
Rent	-10% $531	-5% $569	+0% $607	+5% $645	+10% $683
Rate	-1.0pp $616	-0.5pp $611	base $607	+0.5pp $602	+1.0pp $597

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: $4,500
• Closing costs: $540
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
837 Newberg Ave Macon, GA	3.0	1.0	966	$750	$0.78	44d	1	0.24mi
1089 Brisbane St Macon, GA	3.0	1.0	816	$1,075	$1.32	14d	1	0.33mi
3149 Somerset Dr Macon, GA	2.0	1.0	897	$745	$0.83	44d	1	0.40mi
3238 Somerset Dr Macon, GA	3.0	1.0	1100	$975	$0.89	14d	1	0.43mi
614 Cleveland St Macon, GA	1.0	1.0	650	$800	$1.23	44d	1	0.45mi
1164 Newberg Ave Macon, GA	3.0	1.0	1100	$1,195	$1.09	44d	1	0.50mi
558 Cleveland St Macon, GA	2.0	1.0	924	$925	$1.00	44d	1	0.54mi
3423 Flamingo Dr Macon, GA	3.0	1.0	1048	$895	$0.85	44d	1	0.55mi
3080 Rice Mill Rd Macon, GA	3.0	1.0	1100	$950	$0.86	44d	1	0.64mi
3080 Rice Mill Rd Unit C-1 Macon, GA	3.0	1.5	1100	$925	$0.84	22d	1	0.64mi
3080 Rice Mill Rd Unit M-5 Macon, GA	1.0	1.0	875	$750	$0.86	44d	1	0.64mi
1148 N Beddingfield Dr Macon, GA	3.0	1.0	1076	$825	$0.77	44d	1	0.71mi
806 Armory Dr Unit B Macon, GA	3.0	1.0	1100	$975	$0.89	44d	1	0.82mi
672 Bowden St Macon, GA	2.0	1.0	1076	$900	$0.84	22d	1	0.86mi
2349 Mason St Macon, GA	1.0	1.0	552	$625	$1.13	44d	1	0.90mi
534 Lynmore Ave Macon, GA	2.0	1.0	864	$925	$1.07	44d	1	0.91mi
1156 Triple Hill Dr Macon, GA	2.0	1.0	980	$875	$0.89	14d	1	1.01mi
2445 Lowe St Macon, GA	2.0	1.0	940	$890	$0.95	44d	1	1.01mi
3778 Spencer Cir Macon, GA	3.0	1.0	864	$1,300	$1.50	22d	1	1.02mi
771 Harold St Macon, GA	2.0	1.0	950	$1,250	$1.32	14d	1	1.05mi
3837 Spencer Cir Macon, GA	3.0	1.0	1080	$1,300	$1.20	44d	1	1.10mi
663 Williams St Macon, GA	3.0	1.0	911	$980	$1.08	44d	1	1.11mi
3823 Saint Charles Pl Macon, GA	3.0	1.0	1020	$1,150	$1.13	44d	1	1.19mi
4196 Mikado Ave Unit B Macon, GA	1.0	1.0	890	$900	$1.01	44d	1	1.22mi
4196 Mikado Ave Unit A Macon, GA	1.0	1.0	897	$950	$1.06	44d	1	1.22mi
4028 Saint Charles Pl Macon, GA	3.0	1.0	900	$800	$0.89	22d	1	1.33mi
1332 Hillridge Dr Macon, GA	3.0	2.0	1050	$1,050	$1.00	14d	1	1.33mi
668 Grosso Ave Unit A Macon, GA	2.0	1.0	650	$750	$1.15	22d	1	1.48mi

Listing history 19 events

1. 2026-06-07
   statusdays on market $18,000 Pending 220 DOM
2. 2026-06-03
   days on market $18,000 Active Under Contract 218 DOM
3. 2026-06-02
   days on market $18,000 Active Under Contract 217 DOM
4. 2026-06-01
   days on market $18,000 Active Under Contract 216 DOM
5. 2026-05-31
   days on market $18,000 Active Under Contract 215 DOM
6. 2026-05-30
   days on market $18,000 Active Under Contract 214 DOM
7. 2026-04-16
   status Active 353-char remark

   Show marketing remark (353 chars)

   Investor Special! This property is being sold AS-IS and is in need of full renovation. Great opportunity to bring your vision and restore this home to its full potential. Spacious layout with plenty of room to reconfigure. Large lot provides endless possibilities. Perfect for rehabbers, flippers, or anyone looking for a fixer-upper project. Cash only.

8. 2026-04-08
   status Pending 353-char remark

   Show marketing remark (353 chars)

   Investor Special! This property is being sold AS-IS and is in need of full renovation. Great opportunity to bring your vision and restore this home to its full potential. Spacious layout with plenty of room to reconfigure. Large lot provides endless possibilities. Perfect for rehabbers, flippers, or anyone looking for a fixer-upper project. Cash only.

9. 2026-03-04
   price $18,000 353-char remark

   Show marketing remark (353 chars)

   Investor Special! This property is being sold AS-IS and is in need of full renovation. Great opportunity to bring your vision and restore this home to its full potential. Spacious layout with plenty of room to reconfigure. Large lot provides endless possibilities. Perfect for rehabbers, flippers, or anyone looking for a fixer-upper project. Cash only.

10. 2026-02-01
    price $19,000 353-char remark

    Show marketing remark (353 chars)

    Investor Special! This property is being sold AS-IS and is in need of full renovation. Great opportunity to bring your vision and restore this home to its full potential. Spacious layout with plenty of room to reconfigure. Large lot provides endless possibilities. Perfect for rehabbers, flippers, or anyone looking for a fixer-upper project. Cash only.

11. 2025-11-19
    price $21,000 353-char remark

    Show marketing remark (353 chars)

    Investor Special! This property is being sold AS-IS and is in need of full renovation. Great opportunity to bring your vision and restore this home to its full potential. Spacious layout with plenty of room to reconfigure. Large lot provides endless possibilities. Perfect for rehabbers, flippers, or anyone looking for a fixer-upper project. Cash only.

12. 2025-11-07
    price $22,000 353-char remark

    Show marketing remark (353 chars)

    Investor Special! This property is being sold AS-IS and is in need of full renovation. Great opportunity to bring your vision and restore this home to its full potential. Spacious layout with plenty of room to reconfigure. Large lot provides endless possibilities. Perfect for rehabbers, flippers, or anyone looking for a fixer-upper project. Cash only.

13. 2025-10-20
    status Active 353-char remark

    Show marketing remark (353 chars)

    Investor Special! This property is being sold AS-IS and is in need of full renovation. Great opportunity to bring your vision and restore this home to its full potential. Spacious layout with plenty of room to reconfigure. Large lot provides endless possibilities. Perfect for rehabbers, flippers, or anyone looking for a fixer-upper project. Cash only.

14. 2025-10-20
    price $25,000 353-char remark

    Show marketing remark (353 chars)

    Investor Special! This property is being sold AS-IS and is in need of full renovation. Great opportunity to bring your vision and restore this home to its full potential. Spacious layout with plenty of room to reconfigure. Large lot provides endless possibilities. Perfect for rehabbers, flippers, or anyone looking for a fixer-upper project. Cash only.

15. 2025-08-27
    status Pending 353-char remark

    Show marketing remark (353 chars)

    Investor Special! This property is being sold AS-IS and is in need of full renovation. Great opportunity to bring your vision and restore this home to its full potential. Spacious layout with plenty of room to reconfigure. Large lot provides endless possibilities. Perfect for rehabbers, flippers, or anyone looking for a fixer-upper project. Cash only.

16. 2025-08-25
    listed $30,000 Active 353-char remark

    Show marketing remark (353 chars)

    Investor Special! This property is being sold AS-IS and is in need of full renovation. Great opportunity to bring your vision and restore this home to its full potential. Spacious layout with plenty of room to reconfigure. Large lot provides endless possibilities. Perfect for rehabbers, flippers, or anyone looking for a fixer-upper project. Cash only.

17. 2006-05-03
    soldstatus $36,000
18. 2006-03-30
    soldstatus $16,000
19. 2005-11-01
    soldstatus $27,435

ⓘ 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: $606 · $51/mo
• Projected year-2 tax: $606 · $51/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,533
• − Mortgage interest: −$1,008
• − Property taxes: −$606
• − Insurance: −$90
• − Repairs & maintenance: −$923
• − Management: −$923
• − Depreciation: −$524
• Taxable income: $7,459
• Est. tax owed @ 24.0%: −$1,790
• After-tax cash flow: $5,492/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: Bibb County
• NCES district ID: 1300420
• Math proficiency: 11% ▼ -14.00%
• Reading proficiency: 18% ▼ -11.00%
• Median HH income: $37,426
• Composite: 12.13/100
• National rank: #9654
• State rank: #161 of 174 in GA

Livability — Macon-Bibb County

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

Census & demographics

• Census place: Macon-Bibb County, GA
• County: Bibb County · 164,332 people
• City population: 143,186
• Metro: Macon-Bibb County, GA
• Population (ZIP): 24,310
• Household income: $30,042
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 1335.0

Population outlook (Bibb County) Hauer SSP2

• Today (2025): 148,772 people
• By 2030: 145,904 · -1.9%
• By 2040: 139,404 · -6.3%
• By 2050: 131,603 · -11.5%
• By 2075: 111,050 · -25.4%
• By 2100: 83,346 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (76%)
• Race & ethnicity: Black 76% White 12% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Bibb

• 2024 margin: Strong D (+22.4) · D 61.0% · R 38.5%
• 2008→2024 swing: +4.4pp toward D · 2008: 18.0pp · 2024: 22.4pp
• All cycles: 2024: D+22.4 2020: D+23.8 2016: D+20.2 2012: D+20.0 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.17%
• Current HPI: 148.6765
• Rent YoY: ▲ 5.03%
• Metro: Macon-Bibb County, 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

-34.4% since first listed

13 events — show timeline

• 2026-04-16 Relisted — CGMLS
• 2026-04-08 Pending — CGMLS
• 2026-03-04 Price Changed $18,000 CGMLS
• 2026-02-01 Price Changed $19,000 CGMLS
• 2025-11-19 Price Changed $21,000 CGMLS
• 2025-11-07 Price Changed $22,000 CGMLS
• 2025-10-20 Relisted — CGMLS
• 2025-10-20 Price Changed $25,000 CGMLS
• 2025-08-27 Pending — CGMLS
• 2025-08-25 Listed $30,000 CGMLS
• 2006-05-03 Sold (Public Records) $36,000 Public Records
• 2006-03-30 Sold (Public Records) $16,000 Public Records
• 2005-11-01 Sold (Public Records) $27,435 Public Records

Property tax history

+22.7%/yr

Latest (2025): $606 · -8.1% YoY. Source: county tax records.