2465 Thrasher Ave · Macon-Bibb County, GA 31206

$60,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 205 Days on market

Built 1956 8,712 sqft lot $60/sqft · 25% below area Est $80k · 25% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home needs some TLC. Home is being sold AS IS with a package of 11 homes call for List and details.

Key facts

• 8,712 sq ft lot
• Built 1956
• Listed 204 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $569 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.7% 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 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 (+5.0%/yr); 207 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).
• At $1,194/mo this rent would consume 48% of the median local household income ($30k/yr) (locally 1335% 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 $415 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 + 5.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts 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.
• Current owner paid $24k; list at $60k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 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 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.99% ✓
• Cap rate: 17.68%
• Cash-on-cash: 40.65%
• DSCR: 2.81
• GRM: 4.2

CMA / ARV

• ARV (median comp): $80,153
• List price: $60,000
• Delta: -25.14%
• 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
2444 Rocky Creek Rd	0.18mi	3/1.0	1,056 (+6%)	9mo	$110,000	$104	75
2422 Adger Rd	0.12mi	3/1.0	1,104 (+10%)	3mo	$125,000	$113	74
2642 Reynolds Dr	0.50mi	3/1.5	986 (-1%)	9mo	$130,000	$132	65
4255 Vinson Ave	0.16mi	4/1.0 (+1)	1,108 (+11%)	7mo	$80,000	$72	64
5756 Edwina Dr	0.64mi	3/1.5	1,000 (0%)	5mo	$132,000	$132	64
2665 Chatsworth Ct	0.54mi	3/1.5	1,056 (+6%)	4mo	$50,000	$47	60
2704 Reynolds Dr	0.60mi	3/1.0	1,036 (+4%)	7mo	$70,000	$68	60
2738 Village Green Ln	0.67mi	3/1.0	1,056 (+6%)	1mo	$35,000	$33	59
2550 Burbank Pl	0.43mi	3/1.0	912 (-9%)	9mo	$74,250	$81	57
5771 Satterfield Dr	0.45mi	3/1.0	888 (-11%)	5mo	$65,000	$73	56
5746 Sterling Pl	0.59mi	3/1.0	864 (-14%)	5mo	$20,000	$23	46
5711 Sterling Pl	0.62mi	3/2.0	864 (-14%)	2mo	$120,000	$139	43

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: 39.3%
• Equity multiple: 2.73×
• Total profit: $29,006
• Equity at exit: $8,946

10-year hold

• IRR: 46.6%
• Equity multiple: 5.91×
• Total profit: $82,545
• Equity at exit: $5,188

Cash invested: $16,800 (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: 207
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,194 high
• Mortgage (P&I): −$315
• Tax from tax record: −$34 /mo · $411/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $569

Break-even live

Break-even rent $473

Max offer price $60,000

Occupancy floor 47%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2477 Thrasher Ave Macon, GA	3.0	1.0	960	$825	$0.86	13d	1	0.06mi
2423 Thrasher Ave Macon, GA	3.0	1.0	1056	$725	$0.69	43d	1	0.09mi
2418 Adger Rd Macon, GA	4.0	1.0	1365	$1,500	$1.10	43d	1	0.10mi
2459 Vivian Dr Macon, GA	3.0	1.0	792	$850	$1.07	13d	1	0.13mi
2427 Vivian Dr Macon, GA	4.0	1.0	1056	$1,150	$1.09	43d	1	0.14mi
4278 Vinson Ave Macon, GA	4.0	2.0	1104	$1,550	$1.40	21d	1	0.15mi
4331 Ashland Dr Macon, GA	3.0	1.0	864	$1,025	$1.19	43d	1	0.17mi
4300 Essex Rd Macon, GA	4.0	1.5	1246	$1,450	$1.16	21d	1	0.26mi
4471 Elkan Ave Macon, GA	4.0	2.0	1128	$1,495	$1.33	43d	1	0.28mi
4386 Thrasher Cir Macon, GA	3.0	2.0	1120	$1,400	$1.25	43d	1	0.31mi
4455 Fairfax Dr Macon, GA	3.0	2.0	1352	$1,225	$0.91	43d	1	0.34mi
5771 Satterfield Dr Macon, GA	3.0	1.0	888	$1,250	$1.41	43d	1	0.47mi
2641 Leone Dr N Macon, GA	3.0	1.0	864	$1,100	$1.27	43d	1	0.50mi
5962 Bloomfield Rd Macon, GA	4.0	1.5	1159	$1,300	$1.12	13d	1	0.52mi
4685 Pinedale Dr Macon, GA	3.0	1.5	1404	$1,450	$1.03	13d	1	0.55mi
2665 Chatsworth Ct Macon, GA	3.0	1.5	1056	$1,175	$1.11	43d	1	0.56mi
5487 Bloomfield Rd Macon, GA	3.0	2.0	1050	$1,200	$1.14	21d	1	0.57mi
5711 Sterling Pl Macon, GA	3.0	1.0	864	$1,500	$1.74	21d	1	0.63mi
5708 Edwina Dr Macon, GA	3.0	1.0	925	$1,275	$1.38	43d	1	0.66mi
2916 Walmar Dr Macon, GA	3.0	2.0	1300	$1,275	$0.98	43d	1	0.89mi
2961 Deeb Dr Macon, GA	3.0	1.0	1000	$1,000	$1.00	43d	1	0.91mi
3257 Ohara Dr S Macon, GA	3.0	1.0	1352	$1,125	$0.83	21d	1	1.16mi
4069 Blair Ct Macon, GA	3.0	1.0	864	$850	$0.98	43d	1	1.18mi
5161 Nisbet Dr Macon, GA	2.0	1.5	1040	$975	$0.94	43d	1	1.27mi
4995 Bloomfield Rd Macon, GA	2.0	1.5	900	$997	$1.11	21d	1	1.42mi

Listing history 28 events

1. 2026-06-19
   days on market $60,000 Active 205 DOM
2. 2026-06-18
   days on market $60,000 Active 204 DOM
3. 2026-06-17
   days on market $60,000 Active 203 DOM
4. 2026-06-16
   days on market $60,000 Active 202 DOM
5. 2026-06-15
   days on market $60,000 Active 201 DOM
6. 2026-06-14
   days on market $60,000 Active 199 DOM
7. 2026-06-13
   days on market $60,000 Active 198 DOM
8. 2026-06-10
   days on market $60,000 Active 196 DOM
9. 2026-06-09
   days on market $60,000 Active 195 DOM
10. 2026-06-09
    days on market $60,000 Active 194 DOM
11. 2026-06-07
    days on market $60,000 Active 193 DOM
12. 2026-06-03
    days on market $60,000 Active 189 DOM
13. 2026-06-02
    days on market $60,000 Active 188 DOM
14. 2026-06-01
    days on market $60,000 Active 187 DOM
15. 2026-05-31
    days on market $60,000 Active 186 DOM
16. 2026-05-30
    days on market $60,000 Active 185 DOM
17. 2026-03-12
    status Active 247-char remark

    Show marketing remark (247 chars)

    Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home needs some TLC. Home is being sold AS IS with a package of 11 homes call for List and details.

18. 2026-03-02
    historical 247-char remark

    Show marketing remark (247 chars)

    Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home needs some TLC. Home is being sold AS IS with a package of 11 homes call for List and details.

19. 2026-02-20
    status Active 248-char remark

    Show marketing remark (247 chars)

    Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home needs some TLC. Home is being sold AS IS with a package of 11 homes call for List and details.

20. 2026-02-20
    status Active 247-char remark

    Show marketing remark (247 chars)

    Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home needs some TLC. Home is being sold AS IS with a package of 11 homes call for List and details.

21. 2026-02-20
    status Back On Market

    Show marketing remark (247 chars)

    Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home needs some TLC. Home is being sold AS IS with a package of 11 homes call for List and details.

22. 2026-01-22
    historical Active Under Contract 247-char remark

    Show marketing remark (248 chars)

    Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home need some TLC . Home is being sold AS IS with a package of 11homes call for List and details

23. 2026-01-22
    status Pending 248-char remark

    Show marketing remark (248 chars)

    Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home need some TLC . Home is being sold AS IS with a package of 11homes call for List and details

24. 2026-01-22
    status Under Contract

    Show marketing remark (248 chars)

    Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home need some TLC . Home is being sold AS IS with a package of 11homes call for List and details

25. 2025-10-28
    listed $60,000 Active 247-char remark

    Show marketing remark (247 chars)

    Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home needs some TLC. Home is being sold AS IS with a package of 11 homes call for List and details.

26. 2025-10-27
    listed $60,000 Active 248-char remark

    Show marketing remark (248 chars)

    Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home need some TLC . Home is being sold AS IS with a package of 11homes call for List and details

27. 2025-10-27
    listed $60,000 New

    Show marketing remark (248 chars)

    Nice home offering 3 bedrooms and 1 full bath, large Kitchen and a huge living room the exterior offers a nice front yard and a huge back yard this home need some TLC . Home is being sold AS IS with a package of 11homes call for List and details

28. 2004-05-05
    soldstatus $24,000

ⓘ 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: $411 · $34/mo
• Projected year-2 tax: $552 · $46/mo
• Expected delta: +$141/yr (+$12/mo · 34.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 18 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: $14,325
• − Mortgage interest: −$3,361
• − Property taxes: −$411
• − Insurance: −$300
• − Repairs & maintenance: −$1,146
• − Management: −$1,146
• − Depreciation: −$1,745
• Taxable income: $6,215
• Est. tax owed @ 24.0%: −$1,492
• After-tax cash flow: $5,338/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

+150.0% since first listed

12 events — show timeline

• 2026-03-12 Relisted — MGMLS
• 2026-03-02 Delisted — MGMLS
• 2026-02-20 Relisted — CGMLS
• 2026-02-20 Relisted — MGMLS
• 2026-02-20 Relisted — GAMLS
• 2026-01-22 Contingent — MGMLS
• 2026-01-22 Pending — CGMLS
• 2026-01-22 Pending — GAMLS
• 2025-10-28 Listed $60,000 MGMLS
• 2025-10-27 Listed $60,000 CGMLS
• 2025-10-27 Listed $60,000 GAMLS
• 2004-05-05 Sold (Public Records) $24,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $411 · -1.3% YoY. Source: county tax records.