2155 Ferguson St · Macon-Bibb County, GA 31204

$180,000

8 bd · 4.0 ba · 2,575 sqft · MultiFamily · 569 Days on market

Built 1972 Fair condition 0.43 ac lot $70/sqft · 87% above area ↓ 20% 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 +2.2/5.0
• 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 MLS

Well-maintained quadruplex featuring four 2BR/1BA units. Ideal investment or owner-occupant opportunity. Property is tenant-occupied and sold as-is. Current tenants may remain for immediate income, or the owner may bring in their own tenants. Flexible living and income options.

Key facts

• 0.43 acre lot
• Built 1972
• Listed 568 days

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath multifamily listed at $180k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.8% 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 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.
• Market conditions: Rents rising fast (+4.6%/yr); 255 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 154 units permitted in Bibb County in 2024 (0 in 5+ unit buildings).
• At $3,754/mo this rent would consume 116% of the median local household income ($39k/yr) (locally 2674% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 569 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago; this cycle's ask has dropped $70k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 569 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 2.09% ✓
• Cap rate: 17.77%
• Cash-on-cash: 40.99%
• DSCR: 2.82
• GRM: 4.0

CMA / ARV

• ARV (median comp): $96,251
• List price: $180,000
• Delta: 87.01%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.61% rent growth · sell at horizon

5-year hold

• IRR: 39.3%
• Equity multiple: 2.72×
• Total profit: $86,725
• Equity at exit: $26,839

10-year hold

• IRR: 46.5%
• Equity multiple: 5.82×
• Total profit: $243,150
• Equity at exit: $15,563

Cash invested: $50,400 (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: 255
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $3,754 high
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$788
• Net cashflow: $1,722

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,756
Total (4 units)			$3,754

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1031 Ash St Macon, GA	7.0	3.0	1798	$632	$0.35	44d	1	1.28mi

Listing history 23 events

1. 2026-05-30
   days on market $180,000 Active 569 DOM
2. 2025-12-11
   price $180,000 278-char remark

   Show marketing remark (278 chars)

   Well-maintained quadruplex featuring four 2BR/1BA units. Ideal investment or owner-occupant opportunity. Property is tenant-occupied and sold as-is. Current tenants may remain for immediate income, or the owner may bring in their own tenants. Flexible living and income options.

3. 2025-07-09
   price $185,000 278-char remark

   Show marketing remark (278 chars)

   Well-maintained quadruplex featuring four 2BR/1BA units. Ideal investment or owner-occupant opportunity. Property is tenant-occupied and sold as-is. Current tenants may remain for immediate income, or the owner may bring in their own tenants. Flexible living and income options.

4. 2025-01-08
   price $200,000 278-char remark

   Show marketing remark (278 chars)

   Well-maintained quadruplex featuring four 2BR/1BA units. Ideal investment or owner-occupant opportunity. Property is tenant-occupied and sold as-is. Current tenants may remain for immediate income, or the owner may bring in their own tenants. Flexible living and income options.

5. 2024-11-13
   price $210,000 278-char remark

   Show marketing remark (278 chars)

   Well-maintained quadruplex featuring four 2BR/1BA units. Ideal investment or owner-occupant opportunity. Property is tenant-occupied and sold as-is. Current tenants may remain for immediate income, or the owner may bring in their own tenants. Flexible living and income options.

6. 2024-11-08
   historical
7. 2024-11-01
   price $219,990
8. 2024-10-23
   price $249,990
9. 2024-10-18
   listed $219,000 New 278-char remark

   Show marketing remark (278 chars)

   Well-maintained quadruplex featuring four 2BR/1BA units. Ideal investment or owner-occupant opportunity. Property is tenant-occupied and sold as-is. Current tenants may remain for immediate income, or the owner may bring in their own tenants. Flexible living and income options.

10. 2024-10-18
    listed $250,000 New

    Show marketing remark (278 chars)

    Well-maintained quadruplex featuring four 2BR/1BA units. Ideal investment or owner-occupant opportunity. Property is tenant-occupied and sold as-is. Current tenants may remain for immediate income, or the owner may bring in their own tenants. Flexible living and income options.

11. 2023-02-08
    soldstatus $159,000
12. 2022-10-02
    listed $169,900
13. 2022-05-13
    historical
14. 2022-05-12
    status Back On Market
15. 2022-05-11
    status Under Contract
16. 2022-04-18
    price $195,000
17. 2022-03-21
    listed $219,900 New
18. 2022-02-28
    historical
19. 2022-02-19
    status Active
20. 2022-02-15
    historical
21. 2022-02-10
    status Under Contract
22. 2022-01-25
    price $199,000
23. 2022-01-19
    listed $225,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $45,048
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$3,604
• − Management: −$3,604
• − Depreciation: −$5,236
• Taxable income: $18,921
• Est. tax owed @ 24.0%: −$4,541
• After-tax cash flow: $16,120/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This quadruplex requires moderate renovations to improve its condition and appeal to buyers and renters. The kitchen and bathrooms are in poor condition and need significant updates.

Repairs flagged

• Major kitchen cabinets — poor condition
• Major bathroom fixtures — dated and worn
• Minor exterior siding — some discoloration

Value-add opportunities

• Both update kitchen cabinets and fixtures — modernizing the kitchen will appeal to buyers and renters
• Both paint interior walls — fresh paint can make a significant difference in the home's appearance
• Both replace carpeted floors with hardwood or tile — hardwood or tile floors are more durable and aesthetically pleasing
• Both repair/replace kitchen cabinets — modernizing the kitchen will appeal to buyers and renters
• Both repair/replace bathroom fixtures — modernizing the bathrooms will appeal to buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · poor condition	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both update kitchen cabinets and fixtures — modernizing the kitchen will appeal to buyers and renters ↑
• Both paint interior walls — fresh paint can make a significant difference in the home's appearance ↑
• Both replace carpeted floors with hardwood or tile — hardwood or tile floors are more durable and aesthetically pleasing ↑
• Both repair/replace kitchen cabinets — modernizing the kitchen will appeal to buyers and renters ↑
• Both repair/replace bathroom fixtures — modernizing the bathrooms will appeal to buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-20.0% since first listed

22 events — show timeline

• 2025-12-11 Price Changed $180,000 GAMLS
• 2025-07-09 Price Changed $185,000 GAMLS
• 2025-01-08 Price Changed $200,000 GAMLS
• 2024-11-13 Price Changed $210,000 GAMLS
• 2024-11-08 Listing Removed — GAMLS
• 2024-11-01 Price Changed $219,990 GAMLS
• 2024-10-23 Price Changed $249,990 GAMLS
• 2024-10-18 Listed $250,000 GAMLS
• 2024-10-18 Listed $219,000 GAMLS
• 2023-02-08 Sold (MLS) $159,000 MGMLS
• 2022-10-02 Listed $169,900 MGMLS
• 2022-05-13 Listing Removed — GAMLS
• 2022-05-12 Relisted — GAMLS
• 2022-05-11 Pending — GAMLS
• 2022-04-18 Price Changed $195,000 GAMLS
• 2022-03-21 Listed $219,900 GAMLS
• 2022-02-28 Listing Removed — GAMLS
• 2022-02-19 Relisted — GAMLS
• 2022-02-15 Listing Removed — GAMLS
• 2022-02-10 Pending — GAMLS
• 2022-01-25 Price Changed $199,000 GAMLS
• 2022-01-19 Listed $225,000 GAMLS