6101 River Rd #5

Columbus, GA 31904

$225,000D+

4 bd · 2.0 ba · 2,536 sqft · Built 1975 · SingleFamily · Active · 177 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,016/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$375
• HOA: −$0
• Vac / Maint / Mgmt: −$423
• Net cashflow: $38/mo
• Annual: $450/yr
• Cap rate: 6.49%
• Cash-on-cash: 0.71%
• DSCR: 1.03
• 1% rule: 0.90%
• Cash to close: $63,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $225k. Condition is rated good.
• At list price, monthly cash flow is $38 ($450/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (10.4% below list).
• It's been on market 177 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#254 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: amenities D+, crime F, commute F.
• Muscogee County (urban): math 21% / reading 30% proficiency, ranked #120 of 174 in GA (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: River Road Elementary School (math 12% / reading 12%, grade F, #1,041 of 1,228 statewide, top 87%, 403 students, 96% FRL); Double Churches Middle School (math 15% / reading 23%, grade F, #368 of 470 statewide, top 79%, 413 students, 97% FRL); Northside High School (math 15% / reading 37%, grade F, #175 of 424 statewide, top 42%, 1,402 students, 32% FRL).
• Market conditions: Rents rising (+3.0%/yr); 611 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 291 units permitted in Muscogee County in 2024 (30 in 5+ unit buildings).
• Muscogee County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 5y ago; this cycle's ask is 15% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Cap rate 6.5% vs local median 5.0% in Columbus — 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.
• This rent runs 36% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?
• 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.