31906 ZIP Code Real Estate Market Data — Columbus, Georgia
A live read on the 31906 ZIP code for flip, ground-up, and rental investors: home values, rents, days on market, price cuts, and an estimated return — with a calculator prefilled to local numbers.
Market data as of April 2026.
What the numbers say in 31906
The typical home in 31906 is worth $132,265, down 3.2% over the past year. Homes go under contract in about 26 days, and 22.9% of listings take a price cut. At a median rent of $987/mo, the unlevered capitalization rate (cap rate) pencils to roughly 5.3%.
Fix-and-flip conditions in 31906
Flips live and die on resale speed and price softness. In 31906, about 22.9% of listings take a price cut and homes go under contract in roughly 26 days. Start from a defensible After-Repair Value (ARV), then work backward to your Maximum Allowable Offer (MAO).
New-construction economics in 31906
Ground-up works when the finished home sells for meaningfully more than land plus build. 31906's typical home value of $132,265 anchors the resale you're building toward. Add land, construction cost per square foot, soft costs, and holding costs to see if the spread clears your margin.
Rental returns in 31906
At 31906's median value and rent, the unlevered capitalization rate (cap rate) is about 5.3%, a rent-to-price ratio of 0.75% (the 1% rule). Cap rate ignores financing; the calculator below starts from 31906's medians so you can adjust to a real deal.
The deal
Purchase price and the monthly rent the property would command in today's market.
Operating costs
Annual property tax rate, monthly insurance, and the operating reserves you set against rent.
Net Operating Income (NOI) $7,070 / yr ÷ purchase price $132,265
Monthly operating-expense breakdown
Every operating cost that flows into Net Operating Income (NOI). Mortgage principal and interest are deliberately excluded — cap rate is unlevered.
This is an estimate from the numbers you entered. A real cap rate is anchored by current leased comparables, the actual assessed property tax, and a quoted insurance premium — not typed assumptions. Always confirm with a full Comparative Market Analysis (CMA) before making an offer.
Skip the manual rent comp hunt
Fundry pulls leased comparables and assessed tax for any Georgia address and runs Net Operating Income, cap rate, and Cash-on-Cash return for you — flip, ground-up, or rental. Free.
Run a real CMA freeHow to read these 31906 numbers
- Typical home value is the value of a mid-tier home — a steadier signal than a single month's sales.
- Days to pending is how fast homes go under contract. Fewer days favors sellers; more days gives a flipper room to negotiate.
- Listings with a price cut flags softening — more cuts can mean more motivated sellers.
- Capitalization rate (cap rate) is annual Net Operating Income (NOI) divided by price — an unlevered yardstick for rentals. A full Comparative Market Analysis (CMA) refines it with real comparable rents.
Other ZIP codes in Columbus
31906 real estate FAQ
What is the typical home value in 31906?+
The typical home in 31906 is worth about $132,265, down 3.2% over the past year. This reflects mid-tier homes and updates monthly.
What cap rate can you get in 31906?+
Using 31906's median home value and median rent of $987 per month, the estimated unlevered capitalization rate (cap rate) is about 5.3%. Your actual cap rate depends on the specific property, its rent, taxes, and operating costs — run the calculator on this page to model a real deal.
How fast do homes sell in 31906?+
Homes in 31906 go under contract in roughly 26 days on average. Faster markets favor sellers; slower markets give flippers and value buyers more room to negotiate.
Is 31906 a good place to invest in real estate?+
It depends on your strategy. 31906's value, rent, days on market, and price-cut data above show the conditions for flip, ground-up, and rental approaches. Use the free calculators to underwrite a specific deal before deciding — the numbers here are a starting point, not a verdict.
Figures are estimates of typical market conditions and update monthly. For official U.S. home-price data, see the Federal Housing Finance Agency House Price Index.
Run the numbers on a real 31906 address
Search any 31906 address. Fundry pulls matched comparable sales and builds the full deal — flip, ground-up, or rental. Free.
Sign up free