78 Short St · Macon-Bibb County, GA 31204

$95,000

2 bd · 2.0 ba · 1,591 sqft · MultiFamily public records · 119 Days on market

Built 1900 7,405 sqft lot Est $174k · 45% under

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Investor special! Fully occupied duplex with long-term tenants already in place, offering immediate cash flow from day one. Well-maintained with no known maintenance issues and priced competitively for today's market. A solid income-producing opportunity ready to strengthen your investment portfolio.

Key facts

• 7,405 sq ft lot
• Built 1900
• Listed 119 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $956 ($11k/yr) — positive. Per door: $478/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.4% 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: Howard Middle School (math 16% / reading 30%, grade F, #321 of 470 statewide, top 69%, 992 students, 100% FRL); Howard High School (math 2% / reading 5%, grade F, #413 of 424 statewide, top 99%, 1,076 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 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 154 units permitted in Bibb County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $15k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $95k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% 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 $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 2.04% ✓
• Cap rate: 18.37%
• Cash-on-cash: 43.12%
• DSCR: 2.92
• GRM: 4.1

CMA / ARV

• ARV (median comp): $173,555
• List price: $95,000
• Delta: -45.26%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3737 Grand Ave	0.57mi	2/1.0	1,746 (+10%)	24mo	$73,000	$42	33

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: 41.7%
• Equity multiple: 2.83×
• Total profit: $48,658
• Equity at exit: $14,165

10-year hold

• IRR: 48.6%
• Equity multiple: 6.05×
• Total profit: $134,235
• Equity at exit: $8,214

Cash invested: $26,600 (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 31204

• Rents YoY: 4.6%
• Active inventory: 258
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,942 high
• Mortgage (P&I): −$498
• Tax from tax record: −$41 /mo · $487/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $956

Break-even live

Break-even rent $732

Max offer price $95,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,010	-5% $983	+0% $956	+5% $929	+10% $902
Rent	-10% $802	-5% $879	+0% $956	+5% $1,033	+10% $1,109
Rate	-1.0pp $1,004	-0.5pp $980	base $956	+0.5pp $931	+1.0pp $906

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,942
Total (2 units)			$1,942

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3324 Vineville Ave Unit 63B Macon, GA	2.0	1.0	1125	$1,050	$0.93	22d	1	0.20mi
3330 Ridge Ave Unit D4 Macon, GA	2.0	1.5	1056	$1,050	$0.99	15d	1	0.27mi
201 Ridgewood Ave Macon, GA	3.0	1.5	1600	$1,200	$0.75	22d	1	0.28mi
209 Ridgewood Ave Unit 209 Macon, GA	3.0	1.5	1600	$1,200	$0.75	22d	1	0.33mi
3413 Vineville Ave Unit 3419 Macon, GA	3.0	1.5	1200	$1,200	$1.00	22d	1	0.34mi
3840 Napier Ave Macon, GA	3.0	1.0	1365	$1,350	$0.99	15d	1	0.49mi
3346 Shaw Dr Macon, GA	3.0	1.0	1094	$895	$0.82	22d	1	0.50mi
3775 Grand Ave Macon, GA	3.0	2.0	1240	$1,175	$0.95	15d	1	0.57mi
3266 Highpoint Dr Unit 593-B Macon, GA	2.0	1.5	1120	$1,100	$0.98	45d	1	0.70mi
3163 High Point Dr Macon, GA	3.0	1.0	1100	$1,125	$1.02	22d	1	0.75mi
4145 Forest Ave W Macon, GA	3.0	1.0	1285	$1,195	$0.93	45d	1	0.78mi
230 Roycrest Dr Macon, GA	3.0	2.0	1261	$1,300	$1.03	45d	1	0.87mi
1097 Edna Pl Macon, GA	2.0	1.0	1299	$1,300	$1.00	45d	1	0.98mi
919 Inverness Ave Macon, GA	3.0	2.0	1676	$1,549	$0.92	22d	1	1.11mi
1196 Mimosa Dr Macon, GA	3.0	2.0	1200	$1,300	$1.08	22d	1	1.12mi
1187 Edna Pl Unit S-0501 Macon, GA	3.0	2.0	1200	$1,000	$0.83	22d	1	1.14mi
1187 Edna Pl Unit S-0503 Macon, GA	3.0	2.0	1200	$1,125	$0.94	22d	1	1.14mi
4353 Barrington Pl Macon, GA	2.0	1.5	1108	$1,000	$0.90	15d	1	1.17mi
4342 Barrington Pl Macon, GA	2.0	1.5	1092	$950	$0.87	22d	1	1.18mi
4375 Barrington Pl Macon, GA	1.0	1.5	1144	$1,050	$0.92	15d	1	1.20mi
2663 Hillcrest Ave Macon, GA	3.0	2.0	1931	$1,395	$0.72	22d	1	1.27mi
2728 Pierce Dr N Macon, GA	3.0	2.0	1385	$1,500	$1.08	22d	1	1.28mi
2728 Pierce Dr N Macon, GA	3.0	2.0	1385	$1,500	$1.08	45d	1	1.28mi
255 Hawthorn Trl Macon, GA	3.0	2.5	1566	$1,545	$0.99	45d	1	1.29mi
2794 Napier Ave Macon, GA	3.0	2.0	1672	$1,175	$0.70	45d	1	1.29mi
2694 Cherokee Ave Unit A Macon, GA	3.0	1.5	1985	$1,250	$0.63	45d	1	1.30mi
185 Oak Haven Ave Apt A4 Macon, GA	3.0	2.0	1100	$1,200	$1.09	22d	1	1.31mi
1025 Hillyer Ave Macon, GA	3.0	2.0	1738	$1,800	$1.04	22d	1	1.32mi
3096 Sharon Dr Macon, GA	2.0	1.0	1850	$1,050	$0.57	15d	1	1.32mi
328 Rogers Ave Macon, GA	3.0	2.0	1355	$1,200	$0.89	45d	1	1.43mi
770 Forest Ridge Dr W Macon, GA	3.0	2.0	2057	$1,750	$0.85	45d	1	1.45mi
307 Ironwood Ct Macon, GA	3.0	2.5	1522	$1,695	$1.11	22d	1	1.47mi
371 Ironwood Ct Macon, GA	3.0	2.5	1648	$1,745	$1.06	45d	1	1.47mi
371 Ironwood Ct Macon, GA	3.0	2.5	1648	$1,745	$1.06	22d	1	1.47mi
373 Ironwood Ct Macon, GA	3.0	2.5	1648	$1,745	$1.06	45d	1	1.47mi
373 Ironwood Ct Macon, GA	3.0	2.5	1648	$1,745	$1.06	22d	1	1.47mi
2591 N Pierce Cir Unit 2522 Macon, GA	3.0	2.0	1140	$1,200	$1.05	15d	1	1.47mi
2269 Robin Lyn Ct Unit 31204 Macon, GA	3.0	2.5	1560	$1,375	$0.88	22d	1	1.48mi
2269 Robin Lyn Ct Macon, GA	3.0	3.0	1560	$1,375	$0.88	22d	1	1.48mi
2585 Napier Ave Unit A Macon, GA	2.0	2.0	2007	$950	$0.47	45d	1	1.49mi

Listing history 41 events

1. 2026-06-21
   days on market $95,000 Active 119 DOM
2. 2026-06-19
   days on market $95,000 Active 117 DOM
3. 2026-06-18
   days on market $95,000 Active 116 DOM
4. 2026-06-17
   days on market $95,000 Active 115 DOM
5. 2026-06-16
   days on market $95,000 Active 114 DOM
6. 2026-06-15
   days on market $95,000 Active 113 DOM
7. 2026-06-14
   days on market $95,000 Active 111 DOM
8. 2026-06-13
   days on market $95,000 Active 110 DOM
9. 2026-06-10
   days on market $95,000 Active 108 DOM
10. 2026-06-09
    days on market $95,000 Active 107 DOM
11. 2026-06-09
    days on market $95,000 Active 106 DOM
12. 2026-06-07
    days on market $95,000 Active 105 DOM
13. 2026-06-03
    days on market $95,000 Active 101 DOM
14. 2026-06-02
    days on market $95,000 Active 100 DOM
15. 2026-06-01
    days on market $95,000 Active 99 DOM
16. 2026-05-31
    days on market $95,000 Active 98 DOM
17. 2026-05-30
    days on market $95,000 Active 97 DOM
18. 2026-03-16
    price $95,000 301-char remark

    Show marketing remark (301 chars)

    Investor special! Fully occupied duplex with long-term tenants already in place, offering immediate cash flow from day one. Well-maintained with no known maintenance issues and priced competitively for today's market. A solid income-producing opportunity ready to strengthen your investment portfolio.

19. 2026-02-20
    listed $110,000 New 301-char remark

    Show marketing remark (301 chars)

    Investor special! Fully occupied duplex with long-term tenants already in place, offering immediate cash flow from day one. Well-maintained with no known maintenance issues and priced competitively for today's market. A solid income-producing opportunity ready to strengthen your investment portfolio.

20. 2024-07-01
    historical $600
21. 2024-06-19
    price $600
22. 2024-06-08
    listed $650
23. 2022-07-14
    soldstatus $54,900
24. 2022-07-06
    soldstatus $54,900 29-char remark

    Show marketing remark (29 chars)

    Please do not disturb tenants

25. 2022-04-05
    listed $55,900 29-char remark

    Show marketing remark (29 chars)

    Please do not disturb tenants

26. 2022-01-10
    soldstatus $48,000
27. 2022-01-09
    status Under Contract
28. 2022-01-03
    soldstatus $40,125
29. 2021-12-29
    soldstatus $42,000 Sold
30. 2021-12-29
    soldstatus $40,125
31. 2021-11-30
    historical Active Under Contract
32. 2021-11-25
    status Active
33. 2021-11-25
    price $59,900
34. 2021-11-22
    historical
35. 2021-11-17
    status Under Contract
36. 2021-11-15
    listed $59,900
37. 2021-11-09
    listed $62,500 New
38. 2016-04-27
    soldstatus $30,000
39. 2015-12-15
    soldstatus $23,000
40. 2015-12-15
    soldstatus $27,000
41. 2003-02-11
    soldstatus $33,000

ⓘ 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: $487 · $41/mo
• Projected year-2 tax: $874 · $73/mo
• Expected delta: +$387/yr (+$32/mo · 79.3%)

ⓘ 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 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,304
• − Mortgage interest: −$5,321
• − Property taxes: −$487
• − Insurance: −$475
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − Depreciation: −$2,764
• Taxable income: $10,528
• Est. tax owed @ 24.0%: −$2,527
• After-tax cash flow: $8,943/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

+187.9% since first listed

24 events — show timeline

• 2026-03-16 Price Changed $95,000 GAMLS
• 2026-02-20 Listed $110,000 GAMLS
• 2024-07-01 Rental Removed $600 GAMLS
• 2024-06-19 Price Changed $600 GAMLS
• 2024-06-08 Listed for Rent $650 GAMLS
• 2022-07-14 Sold (Public Records) $54,900 Public Records
• 2022-07-06 Sold (MLS) $54,900 MGMLS
• 2022-04-05 Listed $55,900 MGMLS
• 2022-01-10 Sold (Public Records) $48,000 Public Records
• 2022-01-09 Pending — GAMLS
• 2022-01-03 Sold (Public Records) $40,125 Public Records
• 2021-12-29 Sold (MLS) $40,125 CGMLS
• 2021-12-29 Sold (MLS) $42,000 GAMLS
• 2021-11-30 Contingent — GAMLS
• 2021-11-25 Relisted — GAMLS
• 2021-11-25 Price Changed $59,900 GAMLS
• 2021-11-22 Listing Removed — GAMLS
• 2021-11-17 Pending — GAMLS
• 2021-11-15 Listed $59,900 CGMLS
• 2021-11-09 Listed $62,500 GAMLS
• 2016-04-27 Sold (Public Records) $30,000 Public Records
• 2015-12-15 Sold (Public Records) $27,000 Public Records
• 2015-12-15 Sold (Public Records) $23,000 Public Records
• 2003-02-11 Sold (Public Records) $33,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $487 · -1.3% YoY. Source: county tax records.