Kenneth Mooney, REALTOR®

Market Overview

Augusta is booming. Thousands of families are coming into the area because of Fort Gordon, the medical community, and cyber security. Apart from economic prosperity, Augusta is actually one of the best areas in the country to invest in single-family rentals. There is excellent cash flow, a consistent market (not large price swings) and very low prices. The downtown area is on the come-up/future appreciation.

INVESTMENT PRICE POINTS IN the Augusta Market

The entry-level price point is $5,000, mid-range is about $55,000 and the upper level is $100,000. $5,000 homes often need about $30,000-$35,000 in work and your all in will be around $35,000-$40,000. These will often time be 1 to 2 bedroom but could potentially be 3 bedrooms. These will most likely be in C- or C areas. The two main areas where these are found are Old Towne and Harrisburg. Anticipated rent ranges are $500 - $800 depending on the renovation.

Mid Entry Level - You will purchase anywhere between $45,000-$65,000. The renovation will run anywhere between $15,000-$30,000. Your ARV (After Repair Value) will be $85,000-$139,000. These homes range from a minimum of 311-412 sqft. to 1150-1600 sqft. These homes will fall in C to B- areas and can be found in numerous locations throughout the CSRA. Rent ranges will be anywhere from $850-$1,100

Upper price points will typically just be higher end flips. These are less common since the majority of investors in the area do not prefer the spend $165k in one property. You can expect a 2000 sqft.+ and a house that needs $50K in renovations. ARV will be $215K minimum. The acquisition will be $150k-$175K. These homes will typically be 3 bedrooms or more and will fall in B+ and better neighborhoods.