1883 Pio Nono Ave · Macon-Bibb County, GA 31204

$50,000

3 bd · 2.0 ba · 1,281 sqft · MultiFamily public records · 27 Days on market

Built 1933 9,583 sqft lot ↓ 50% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Corner lot historic fixer upper, featuring 3 bd/2ba with hardwood floors. Ready for some TLC to bring it back to life. NO SELLER DISCLOSURES. Sold as is.

Key facts

• 9,583 sq ft lot
• Built 1933
• Listed 26 days

Property features AI

Exterior

• Parking: Driveway; Open parking available
• Utilities: Public water; Public sewer; 110-volt electric; Cable available; Electricity available; Natural gas available; Phone available; Sewer available; Water available
• Home design: One-level home; Fixer condition
• Construction: Wood siding construction; Shingle roof; Slab foundation
• Exterior features: City street frontage; Asphalt road access; GPS-friendly directions

Interior

• Kitchen: No specific kitchen features listed
• Bedrooms: 3 bedrooms on the main level
• Flooring: Hardwood flooring
• Bathrooms: 2 full bathrooms (both on the main level); Master bath: None listed
• Heating & cooling: Other heating; Other cooling
• Interior features: Other interior features; No shared/common walls; Other appliances
• Laundry & utility: Laundry on the main level; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.2% vs local median 5.5% 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 B — 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.
• Zoned schools: Hartley Elementary School (math 2% / reading 2%, grade F, #1,204 of 1,228 statewide, top 100%, 438 students, 100% FRL); Ballard Hudson Middle School (math 4% / reading 9%, grade F, #457 of 470 statewide, top 98%, 744 students, 100% FRL); Southwest High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 800 students, 100% FRL) — zoned schools average 100% FRL vs 75% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.6%/yr); 258 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 39% of the median local income ($39k/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 $346 of loan paydown is wiped out by about $2k 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 + 4.6% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 66% 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 $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.53% ✓
• Cap rate: 20.16%
• Cash-on-cash: 49.52%
• DSCR: 3.20
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $106,323
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2410 Mason St	0.58mi	4/2.0 (+1)	1,250 (-2%)	11mo	$65,000	$52	55
424 Moseley St	0.39mi	4/2.0 (+1)	1,352 (+6%)	15mo	$112,500	$83	55
436 Moseley St	0.40mi	4/2.0 (+1)	1,352 (+6%)	15mo	$112,500	$83	54
1575 Cedar Ave	0.30mi	4/3.0 (+1)	1,404 (+10%)	15mo	$91,000	$65	48

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 · 4.61% rent growth · sell at horizon

5-year hold

• IRR: 49.2%
• Equity multiple: 3.20×
• Total profit: $30,850
• Equity at exit: $7,455

10-year hold

• IRR: 55.5%
• Equity multiple: 6.95×
• Total profit: $83,363
• Equity at exit: $4,323

Cash invested: $14,000 (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 31204

• Rents YoY: 4.6%
• Active inventory: 258
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,267 high
• Mortgage (P&I): −$262
• Tax from tax record: −$140 /mo · $1,681/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $578

Break-even live

Break-even rent $536

Max offer price $50,000

Occupancy floor 49%

Sensitivity live

Price	-10% $606	-5% $592	+0% $578	+5% $564	+10% $549
Rent	-10% $478	-5% $528	+0% $578	+5% $628	+10% $678
Rate	-1.0pp $603	-0.5pp $591	base $578	+0.5pp $565	+1.0pp $552

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1460 Brentwood Ave Macon, GA	3.0	2.0	1148	$1,250	$1.09	22d	1	0.54mi
1336 Winton Ave Macon, GA	3.0	2.0	1632	$1,350	$0.83	45d	1	0.61mi
2445 Lowe St Macon, GA	2.0	1.0	940	$890	$0.95	45d	1	0.63mi
1463 Bankston Ave Macon, GA	2.0	1.0	960	$950	$0.99	45d	1	0.65mi
728 Key St Macon, GA	4.0	1.5	1210	$1,200	$0.99	22d	1	0.68mi
2697 Napier Ave Macon, GA	4.0	1.0	1550	$895	$0.58	22d	1	0.78mi
2794 Napier Ave Macon, GA	3.0	2.0	1672	$1,175	$0.70	45d	1	0.82mi
2154 Napier Ave Macon, GA	3.0	1.0	1344	$1,400	$1.04	22d	1	0.85mi
1025 Hillyer Ave Macon, GA	3.0	2.0	1738	$1,800	$1.04	22d	1	0.86mi
1025 Hillyer Ave Macon, GA	4.0	2.0	1738	$1,800	$1.04	45d	1	0.86mi
806 Armory Dr Unit B Macon, GA	3.0	1.0	1100	$975	$0.89	45d	1	0.90mi
1575 Winston Dr Macon, GA	3.0	2.0	1215	$1,350	$1.11	22d	1	0.91mi
1249 Duncan Ave Unit C Macon, GA	2.0	2.0	900	$795	$0.88	45d	1	0.95mi
1528 Wellworth Ave Macon, GA	3.0	1.0	1126	$1,000	$0.89	22d	1	1.00mi
3096 Sharon Dr Macon, GA	2.0	1.0	1850	$1,050	$0.57	14d	1	1.00mi
771 Harold St Macon, GA	2.0	1.0	950	$1,250	$1.32	14d	1	1.01mi
919 Inverness Ave Macon, GA	3.0	2.0	1676	$1,549	$0.92	22d	1	1.01mi
3147 Westover Dr Macon, GA	4.0	2.0	1705	$1,475	$0.87	22d	1	1.03mi
672 Bowden St Macon, GA	2.0	1.0	1076	$900	$0.84	22d	1	1.04mi
1371 Ross St Macon, GA	3.0	2.0	1541	$1,200	$0.78	14d	1	1.06mi
1268 College St Unit 1 Macon, GA	2.0	2.0	1500	$1,730	$1.15	45d	1	1.08mi
1596 Burton Ave Macon, GA	3.0	1.0	1117	$895	$0.80	14d	1	1.10mi
663 Williams St Macon, GA	3.0	1.0	911	$980	$1.08	45d	1	1.14mi
1515 Burton Ave Macon, GA	3.0	1.0	1568	$1,250	$0.80	22d	1	1.15mi
1782 Eveline Ave Macon, GA	3.0	1.0	900	$1,050	$1.17	45d	1	1.15mi
1232 Shamrock St Macon, GA	3.0	2.0	1282	$1,700	$1.33	14d	1	1.16mi
3080 Rice Mill Rd Macon, GA	3.0	1.0	1100	$950	$0.86	45d	1	1.21mi
3080 Rice Mill Rd Unit C-1 Macon, GA	3.0	1.5	1100	$925	$0.84	22d	1	1.21mi
738 Liberty St Unit 730 Macon, GA	2.0	1.0	1376	$680	$0.49	22d	1	1.21mi
738 Liberty St Unit 738 Macon, GA	2.0	1.0	1378	$989	$0.72	22d	1	1.21mi
1347 Jackson St Macon, GA	3.0	2.0	1435	$1,300	$0.91	45d	1	1.21mi
1227 Calhoun St Macon, GA	2.0	1.5	1212	$1,200	$0.99	45d	1	1.21mi
832 Elm St Macon, GA	3.0	2.0	1121	$1,175	$1.05	45d	1	1.22mi
1635 2nd St Macon, GA	3.0	2.0	1159	$1,500	$1.29	45d	1	1.30mi
1196 Mimosa Dr Macon, GA	3.0	2.0	1200	$1,300	$1.08	22d	1	1.30mi
2350 English Ave Apt 3D Macon, GA	3.0	1.5	980	$1,095	$1.12	45d	1	1.31mi
1868 Sussex Dr Macon, GA	3.0	2.0	1450	$1,500	$1.03	45d	1	1.32mi
3149 Somerset Dr Macon, GA	2.0	1.0	897	$745	$0.83	45d	1	1.33mi
185 Oak Haven Ave Apt A4 Macon, GA	3.0	2.0	1100	$1,200	$1.09	22d	1	1.36mi
722 Ash St Macon, GA	2.0	2.0	1700	$3,700	$2.18	45d	1	1.37mi

Listing history 25 events

1. 2026-06-21
   days on market $50,000 Active 27 DOM
2. 2026-06-19
   days on market $50,000 Active 25 DOM
3. 2026-06-18
   days on market $50,000 Active 24 DOM
4. 2026-06-17
   days on market $50,000 Active 23 DOM
5. 2026-06-16
   days on market $50,000 Active 22 DOM
6. 2026-06-15
   days on market $50,000 Active 21 DOM
7. 2026-06-14
   days on market $50,000 Active 19 DOM
8. 2026-06-13
   days on market $50,000 Active 18 DOM
9. 2026-06-10
   days on market $50,000 Active 16 DOM
10. 2026-06-09
    days on market $50,000 Active 15 DOM
11. 2026-06-08
    days on market $50,000 Active 14 DOM
12. 2026-06-07
    days on market $50,000 Active 13 DOM
13. 2026-06-03
    days on market $50,000 Active 9 DOM
14. 2026-06-02
    days on market $50,000 Active 8 DOM
15. 2026-06-01
    days on market $50,000 Active 7 DOM
16. 2026-05-31
    days on market $50,000 Active 6 DOM
17. 2026-05-30
    days on market $50,000 Active 5 DOM
18. 2026-05-22
    listed $50,000 Active
19. 2023-12-18
    historical
20. 2023-09-20
    price $49,000
21. 2023-09-06
    status Back On Market
22. 2023-04-28
    status Under Contract
23. 2023-04-03
    listed $50,000 New
24. 2022-03-19
    historical
25. 2022-02-23
    listed $99,999 New

ⓘ 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: $1,681 · $140/mo
• Projected year-2 tax: $1,681 · $140/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 ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $15,204
• − Mortgage interest: −$2,801
• − Property taxes: −$1,681
• − Insurance: −$250
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − Depreciation: −$1,455
• Taxable income: $6,585
• Est. tax owed @ 24.0%: −$1,580
• After-tax cash flow: $5,353/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): 32,421
• Household income: $38,784
• Rent vs Own: 57.5% rent · 42.5% own
• Severe rent burden: 2674.0

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 (65%)
• Race & ethnicity: Black 65% White 28% Hispanic / Latino 3% Two or more races 2% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1%

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: ▼ -135.44%
• Current HPI: 194.5459
• Rent YoY: ▲ 4.61%
• 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

-50.0% since first listed

8 events — show timeline

• 2026-05-22 Listed $50,000 FMLS
• 2023-12-18 Listing Removed — GAMLS
• 2023-09-20 Price Changed $49,000 GAMLS
• 2023-09-06 Relisted — GAMLS
• 2023-04-28 Pending — GAMLS
• 2023-04-03 Listed $50,000 GAMLS
• 2022-03-19 Listing Removed — GAMLS
• 2022-02-23 Listed $99,999 GAMLS

Property tax history

+18.7%/yr

Latest (2025): $1,681 · -6.8% YoY. Source: county tax records.