3615 Ginnis Cir SW · Atlanta, GA 30331

$145,000

2 bd · 2.0 ba · — sqft · Condo · 85 Days on market

Built 2004 ↓ 9% since listing

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Why this score? — see what drove the C+ 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 +26.2/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come all Investors, already has section tenant, transition into a Hud approved vendor. This beautifully adorable 2 BR/3 BA townhome offers modern finishes and exceptional flexibility and is a turnkey opportunity with NO RENTAL RESTRICTIONS. Unit #5 is available now! It open views to your Cozy Great Room with a Fireplace, and separate Living Room, flows seamlessly into a stylish kitchen featuring newer appliances. The spacious bedrooms on the second level, include your very own bathroom suite with double Vanities. The half bath on the main level also has upgraded flooring is very convenient for guests. Relax on Your Private Back Patio for Entertaining. Bus Transportation right outside. A quiet area, near restaurants, shopping and just Minutes from the Atlanta Hartsfield Jackson Airport.

Key facts

• Open views
• Newer appliances
• Stylish kitchen

Tags

• MODERN FINISHES
• TURNKEY OPPORTUNITY
• OPEN VIEWS
• GREAT ROOM
• STYLISH KITCHEN
• NEWER APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.1% in Atlanta — 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 83/100 on livability (#6 in GA, #919 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, cost of living C-.
• Atlanta Public Schools (urban): math 28% / reading 35% proficiency, ranked #80 of 174 in GA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 487 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 33% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.90%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-635
• Equity at exit: $21,620

10-year hold

• IRR: 8.9%
• Equity multiple: 1.67×
• Total profit: $27,166
• Equity at exit: $12,537

Cash invested: $40,600 (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 30331

• Home prices YoY: -34.2%
• Rents YoY: 2.6%
• Active inventory: 487
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,735 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $369

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 74%

Sensitivity live

Price	-10% $469	-5% $419	+0% $369	+5% $319	+10% $268
Rent	-10% $232	-5% $300	+0% $369	+5% $437	+10% $506
Rate	-1.0pp $442	-0.5pp $406	base $369	+0.5pp $331	+1.0pp $293

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3691 Manor Ct SW Atlanta, GA	2.0	2.0	944	$1,500	$1.59	25d	1	0.01mi
3606 Ginnis Dr SW #8 Atlanta, GA	2.0	2.5	1224	$1,411	$1.15	8d	1	0.06mi
751 Fairburn Rd SW Atlanta, GA	1.0–3.0	1.0–2.0	1162	$1,770	$1.52	0d	31	0.27mi
3616 Utoy Dr SW Atlanta, GA	3.0	3.5	1496	$1,950	$1.30	44d	1	0.48mi
500 Richard Allen Blvd Atlanta, GA	2.0	1.0	—	$1,542	—	25d	1	0.57mi
3820 Old Cascade Rd SW Atlanta, GA	2.0	1.0	759	$1,099	$1.45	2d	1	0.63mi
778 Nehemiah Ln SW Atlanta, GA	2.0	2.5	1576	$1,950	$1.24	25d	1	0.72mi
494 Plainville Dr SW Atlanta, GA	3.0	2.0	1567	$2,400	$1.53	25d	1	0.74mi
415 Fairburn Rd SW Atlanta, GA	1.0–3.0	1.0–2.0	890	$1,258	$1.41	0d	32	0.79mi
1212 Utoy Springs Rd SW #38 Atlanta, GA	2.0	1.0	875	$1,400	$1.60	18d	1	0.79mi
658 Providence Pl SW Atlanta, GA	3.0	3.5	1571	$2,100	$1.34	25d	1	0.79mi
648 Providence Pl SW #37 Atlanta, GA	3.0	3.5	1416	$2,195	$1.55	0d	1	0.81mi
648 Providence Pl SW #37 Atlanta, GA	3.0	3.5	1416	$2,195	$1.55	25d	1	0.81mi
3269 Pamlico Dr SW Atlanta, GA	3.0	3.0	—	$2,200	—	25d	1	0.83mi
513 Constellation Overlook SW Atlanta, GA	3.0	2.5	1446	$2,300	$1.59	25d	1	0.83mi
3365 Regent Pl SW Atlanta, GA	3.0	3.5	—	$2,988	—	25d	1	0.84mi
758 Braemar Ave SW Unit C Atlanta, GA	1.0	1.0	—	$2,200	—	8d	1	0.95mi
758 Braemar Ave SW Unit A Atlanta, GA	2.0	2.0	—	$3,000	—	8d	1	0.95mi
755 Crestwell Cir SW Atlanta, GA	2.0	2.5	1546	$1,800	$1.16	25d	1	0.98mi
722 Crestwell Cir #722 Atlanta, GA	2.0	3.0	1440	$2,279	$1.58	21d	1	1.00mi
871 Laurelmont Dr SW Atlanta, GA	3.0	2.0	1210	$2,000	$1.65	25d	1	1.00mi
708 Crestwell Cir SW Atlanta, GA	2.0	2.5	1236	$1,645	$1.33	25d	1	1.01mi
869 Venture Way SW Atlanta, GA	3.0	2.5	2974	$2,600	$0.87	25d	1	1.03mi
889 Ambient Way SW Atlanta, GA	3.0	2.5	—	$1,995	—	13d	1	1.05mi
897 Ambient Way SW Atlanta, GA	2.0	2.5	1500	$2,155	$1.44	25d	1	1.05mi
887 Ambient Way SW Atlanta, GA	2.0	2.5	1344	$2,250	$1.67	25d	1	1.05mi
3311 Rabun Dr SW Atlanta, GA	3.0	2.0	1523	$2,350	$1.54	25d	1	1.06mi
841 Ambient Way SW Atlanta, GA	2.0	2.5	1344	$1,895	$1.41	17d	1	1.09mi
841 Ambient Way SW Atlanta, GA	2.0	2.5	1344	$1,895	$1.41	0d	1	1.09mi
832 Ambient Way SW Atlanta, GA	2.0	2.5	1500	$2,250	$1.50	25d	1	1.10mi
898 Ambient Way Unit 898 Atlanta, GA	2.0	2.5	—	$1,950	—	4d	1	1.12mi
4341 Cascade Rd SW Atlanta, GA	1.0–3.0	1.0–2.0	959	$1,340	$1.40	44d	1	1.14mi
1371 Kimberly Way SW Atlanta, GA	1.0–3.0	1.0–2.0	1007	$1,117	$1.11	0d	20	1.16mi
4355 Cascade Rd SW Atlanta, GA	2.0	2.0	1152	$1,190	$1.03	0d	6	1.21mi
200 Suttles Dr SW Atlanta, GA	3.0	2.5	1900	$2,123	$1.12	25d	1	1.23mi
4250 Utoy Ct SW Atlanta, GA	1.0	1.0	—	$771	—	8d	1	1.27mi
4375 Cascade Rd Unit n184 Atlanta, GA	2.0	1.0	805	$1,150	$1.43	25d	1	1.32mi
4375 Cascade Rd Unit n186 Atlanta, GA	2.0	1.0	805	$1,100	$1.37	16d	1	1.32mi
4375 Cascade Rd Apt F59 Atlanta, GA	1.0	1.0	612	$995	$1.63	12d	1	1.32mi
4375 Cascade Rd Apt H94 Atlanta, GA	1.0	1.0	612	$895	$1.46	25d	1	1.32mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   statusdays on market $145,000 Pending 85 DOM
2. 2026-06-18
   days on market $145,000 Active 84 DOM
3. 2026-06-17
   days on market $145,000 Active 83 DOM
4. 2026-06-16
   days on market $145,000 Active 82 DOM
5. 2026-06-15
   days on market $145,000 Active 81 DOM
6. 2026-06-13
   days on market $145,000 Active 79 DOM
7. 2026-06-13
   days on market $145,000 Active 78 DOM
8. 2026-06-09
   days on market $145,000 Active 75 DOM
9. 2026-06-08
   days on market $145,000 Active 74 DOM
10. 2026-06-07
    days on market $145,000 Active 73 DOM
11. 2026-06-04
    days on market $145,000 Active 70 DOM
12. 2026-06-03
    days on market $145,000 Active 69 DOM
13. 2026-06-02
    days on market $145,000 Active 68 DOM
14. 2026-06-01
    days on market $145,000 Active 67 DOM
15. 2026-05-31
    days on market $145,000 Active 66 DOM
16. 2026-05-23
    status Active 799-char remark

    Show marketing remark (799 chars)

    Come all Investors, already has section tenant, transition into a Hud approved vendor. This beautifully adorable 2 BR/3 BA townhome offers modern finishes and exceptional flexibility and is a turnkey opportunity with NO RENTAL RESTRICTIONS. Unit #5 is available now! It open views to your Cozy Great Room with a Fireplace, and separate Living Room, flows seamlessly into a stylish kitchen featuring newer appliances. The spacious bedrooms on the second level, include your very own bathroom suite with double Vanities. The half bath on the main level also has upgraded flooring is very convenient for guests. Relax on Your Private Back Patio for Entertaining. Bus Transportation right outside. A quiet area, near restaurants, shopping and just Minutes from the Atlanta Hartsfield Jackson Airport.

17. 2026-05-23
    price $145,000 799-char remark

    Show marketing remark (799 chars)

    Come all Investors, already has section tenant, transition into a Hud approved vendor. This beautifully adorable 2 BR/3 BA townhome offers modern finishes and exceptional flexibility and is a turnkey opportunity with NO RENTAL RESTRICTIONS. Unit #5 is available now! It open views to your Cozy Great Room with a Fireplace, and separate Living Room, flows seamlessly into a stylish kitchen featuring newer appliances. The spacious bedrooms on the second level, include your very own bathroom suite with double Vanities. The half bath on the main level also has upgraded flooring is very convenient for guests. Relax on Your Private Back Patio for Entertaining. Bus Transportation right outside. A quiet area, near restaurants, shopping and just Minutes from the Atlanta Hartsfield Jackson Airport.

18. 2026-05-07
    status Pending 799-char remark

    Show marketing remark (799 chars)

    Come all Investors, already has section tenant, transition into a Hud approved vendor. This beautifully adorable 2 BR/3 BA townhome offers modern finishes and exceptional flexibility and is a turnkey opportunity with NO RENTAL RESTRICTIONS. Unit #5 is available now! It open views to your Cozy Great Room with a Fireplace, and separate Living Room, flows seamlessly into a stylish kitchen featuring newer appliances. The spacious bedrooms on the second level, include your very own bathroom suite with double Vanities. The half bath on the main level also has upgraded flooring is very convenient for guests. Relax on Your Private Back Patio for Entertaining. Bus Transportation right outside. A quiet area, near restaurants, shopping and just Minutes from the Atlanta Hartsfield Jackson Airport.

19. 2026-05-04
    historical Active Under Contract 799-char remark

    Show marketing remark (799 chars)

    Come all Investors, already has section tenant, transition into a Hud approved vendor. This beautifully adorable 2 BR/3 BA townhome offers modern finishes and exceptional flexibility and is a turnkey opportunity with NO RENTAL RESTRICTIONS. Unit #5 is available now! It open views to your Cozy Great Room with a Fireplace, and separate Living Room, flows seamlessly into a stylish kitchen featuring newer appliances. The spacious bedrooms on the second level, include your very own bathroom suite with double Vanities. The half bath on the main level also has upgraded flooring is very convenient for guests. Relax on Your Private Back Patio for Entertaining. Bus Transportation right outside. A quiet area, near restaurants, shopping and just Minutes from the Atlanta Hartsfield Jackson Airport.

20. 2026-04-18
    price $154,900 799-char remark

    Show marketing remark (799 chars)

    Come all Investors, already has section tenant, transition into a Hud approved vendor. This beautifully adorable 2 BR/3 BA townhome offers modern finishes and exceptional flexibility and is a turnkey opportunity with NO RENTAL RESTRICTIONS. Unit #5 is available now! It open views to your Cozy Great Room with a Fireplace, and separate Living Room, flows seamlessly into a stylish kitchen featuring newer appliances. The spacious bedrooms on the second level, include your very own bathroom suite with double Vanities. The half bath on the main level also has upgraded flooring is very convenient for guests. Relax on Your Private Back Patio for Entertaining. Bus Transportation right outside. A quiet area, near restaurants, shopping and just Minutes from the Atlanta Hartsfield Jackson Airport.

21. 2026-03-09
    listed $159,900 Active 799-char remark

    Show marketing remark (799 chars)

    Come all Investors, already has section tenant, transition into a Hud approved vendor. This beautifully adorable 2 BR/3 BA townhome offers modern finishes and exceptional flexibility and is a turnkey opportunity with NO RENTAL RESTRICTIONS. Unit #5 is available now! It open views to your Cozy Great Room with a Fireplace, and separate Living Room, flows seamlessly into a stylish kitchen featuring newer appliances. The spacious bedrooms on the second level, include your very own bathroom suite with double Vanities. The half bath on the main level also has upgraded flooring is very convenient for guests. Relax on Your Private Back Patio for Entertaining. Bus Transportation right outside. A quiet area, near restaurants, shopping and just Minutes from the Atlanta Hartsfield Jackson Airport.

22. 2022-09-15
    soldstatus $160,000 Sold 78-char remark

    Show marketing remark (78 chars)

    3bedroom 2 bath townhome, new carpet and paint. Appliances sold with property.

23. 2022-08-27
    status Under Contract 78-char remark

    Show marketing remark (78 chars)

    3bedroom 2 bath townhome, new carpet and paint. Appliances sold with property.

24. 2022-08-08
    status Back On Market 78-char remark

    Show marketing remark (78 chars)

    3bedroom 2 bath townhome, new carpet and paint. Appliances sold with property.

25. 2022-06-01
    status Under Contract 78-char remark

    Show marketing remark (78 chars)

    3bedroom 2 bath townhome, new carpet and paint. Appliances sold with property.

26. 2022-05-24
    status Back On Market 78-char remark

    Show marketing remark (78 chars)

    3bedroom 2 bath townhome, new carpet and paint. Appliances sold with property.

27. 2022-05-20
    status Under Contract 78-char remark

    Show marketing remark (78 chars)

    3bedroom 2 bath townhome, new carpet and paint. Appliances sold with property.

28. 2022-05-13
    listed $160,000 New 78-char remark

    Show marketing remark (78 chars)

    3bedroom 2 bath townhome, new carpet and paint. Appliances sold with property.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,821
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − Depreciation: −$4,218
• Taxable income: $2,249
• Est. tax owed @ 24.0%: −$540
• After-tax cash flow: $3,884/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: Atlanta Public Schools
• NCES district ID: 1300120
• Math proficiency: 28% ▼ -6.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $48,306
• Composite: 27.27/100
• National rank: #7006
• State rank: #80 of 174 in GA

Livability — Atlanta

• Score: 83/100
• State rank: #6
• US rank: #919

Category grades

Amenities A+ Commute A+ Cost of living C- Crime A Employment B Housing A+ Health & safety A- User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlanta, GA
• County: Fulton County · 1,094,430 people
• City population: 629,525
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,567
• Household income: $62,623
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 3748.0

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 1,203,707 people
• By 2030: 1,299,706 · +8.0%
• By 2040: 1,488,256 · +23.6%
• By 2050: 1,664,580 · +38.3%
• By 2075: 2,036,072 · +69.2%
• By 2100: 2,222,402 · +84.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (94%)
• Race & ethnicity: Black 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Hispanic 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Fulton

• 2024 margin: Solid D (+44.9) · D 71.9% · R 27.0% · Other 1.1%
• 2008→2024 swing: +9.8pp toward D · 2008: 35.0pp · 2024: 44.9pp
• All cycles: 2024: D+44.9 2020: D+46.4 2016: D+42.1 2012: D+29.6 2008: D+35.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.38%
• Current HPI: 204.5402
• Rent YoY: ▲ 2.63%
• Metro: Atlanta-Sandy Springs-Alpharetta, 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

-9.4% since first listed

13 events — show timeline

• 2026-05-23 Relisted — FMLS
• 2026-05-23 Price Changed $145,000 FMLS
• 2026-05-07 Pending — FMLS
• 2026-05-04 Contingent — FMLS
• 2026-04-18 Price Changed $154,900 FMLS
• 2026-03-09 Listed $159,900 FMLS
• 2022-09-15 Sold (MLS) $160,000 GAMLS
• 2022-08-27 Pending — GAMLS
• 2022-08-08 Relisted — GAMLS
• 2022-06-01 Pending — GAMLS
• 2022-05-24 Relisted — GAMLS
• 2022-05-20 Pending — GAMLS
• 2022-05-13 Listed $160,000 GAMLS