Factor in financing to see your actual return on invested capital in Albany.
$
$40,000
%
%
years
$
taxes + ins + maint + mgmt
$
$
Cash-on-Cash Return
-4.64%Weak
Annual Cash Flow ÷ Total Cash Invested
Total Cash Invested
$44,800
$40,000 down + $4,800 closing
Monthly Mortgage
$782
on $120K loan
Monthly Cash Flow
$-173
after all expenses
Annual Cash Flow
$-2,080
before taxes
Cash Flow Breakdown
Monthly Rent$1,050
Less Expenses−$441
Less Mortgage−$782
Monthly Cash Flow$-173
Is Albany a Good Place to Invest in Rental Property?
Albany, GA has a population of 50,000 and has been growing at 0.9% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $160,000 paired with median rents of $1,050/mo produces an estimated cap rate of 5.66%.
Property taxes at 0.93% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 6.2% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 3.2x, homes cost about 3.2 times the local median income of $49,350. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 2.9% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Albany presents moderate opportunities. Cap rates near 5.66% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.
Sponsored
Get AI-Powered Property Insights
Homesage.ai analyzes 140 million properties with AI — spot hidden deals, assess property condition, and find investment opportunities. Free to try.