1947 Grange Dr SE · Atlanta, GA 30315

$150,000

3 bd · 1.0 ba · 950 sqft · SingleFamily public records · 44 Days on market

Built 1969 0.25 ac lot $158/sqft · 22% below area Est $191k · 22% 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 +26.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.3/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 3-bedroom, 1-bath ranch home in the heart of Atlanta! This property offers a great opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. Featuring a functional layout with 950 square feet of living space, this home sits on a spacious, level lot, providing plenty of outdoor potential for entertaining, gardening, or future improvements. Conveniently located with easy access to major highways, downtown Atlanta, Hartsfield-Jackson Airport, and local schools, this home combines accessibility with affordability. With no HOA and strong rental potential, this is an ideal option for buy-and-hold investors or those looking to personalize a home to their taste. Whether you're looking for your first home or your next investment, this property presents solid value and endless possibilities. Schedule your showing today!

Key facts

• 0.25 acre lot
• Built 1969
• Listed 43 days

Property features AI

Exterior

• Parking: Driveway parking; Open parking available
• Utilities: Public water; Public sewer; Electricity available (110V and 220V); Natural gas available
• Home design: One-level home; Brick on all sides construction; Composition roof; Resale property; Slab foundation
• Construction: Brick 4 sides construction; Composition roof; Slab foundation; Resale condition
• Exterior features: Chain link fencing; Deck

Interior

• Kitchen: No specific kitchen features listed; Appliances listed as other
• Bedrooms: Three main-level bedrooms
• Flooring: Ceramic tile; Hardwood
• Bathrooms: One full bathroom with tub/shower combo (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Shutters on windows; Other interior features
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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: 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.
• Zoned schools: South Atlanta High School (math 2% / reading 12%, grade F, #385 of 424 statewide, top 92%, 928 students, 100% FRL) — zoned schools average 100% FRL vs 71% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 7% at this address vs 32% district-wide (-24 pts) — the specific schools serving this property underperform the Atlanta Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.2%/yr); 391 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).

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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask is 8991% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $18k; list at $150k implies a 711% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.86%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (median comp): $191,415
• List price: $150,000
• Delta: -21.64%
• 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
1154 Penn Ct	0.07mi	3/1.0	1,000 (+5%)	1mo	$188,300	$188	87
1895 Thomasville Dr SE	0.15mi	3/1.0	983 (+4%)	9mo	$98,000	$100	80
2040 Forrest Park Rd SE	0.23mi	3/1.0	984 (+4%)	9mo	$170,000	$173	76
2006 Phillips Dr SE	0.45mi	3/1.0	1,000 (+5%)	5mo	$100,000	$100	66
2118 Kipling Cir SE	0.51mi	3/1.0	910 (-4%)	4mo	$92,000	$101	66
1258 Kipling St SE	0.61mi	3/1.0	936 (-2%)	7mo	$118,000	$126	63
1991 Turner Rd SE	0.32mi	3/2.0	1,036 (+9%)	6mo	$198,000	$191	61
710 Thomasville Blvd SE	0.32mi	3/2.0	1,084 (+14%)	0mo	$213,000	$196	57
1079 Stonewall Dr SE	0.66mi	3/1.0	1,008 (+6%)	8mo	$140,000	$139	53
2294 Forrest Park Rd SE	0.67mi	3/2.0	1,008 (+6%)	9mo	$175,000	$174	47
1229 Kipling St SE	0.62mi	3/1.0	1,080 (+14%)	8mo	$160,000	$148	41
1044 Moreland Dr SE	0.66mi	2/1.0 (-1)	1,080 (+14%)	6mo	$115,000	$106	36

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 · 3.23% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $2,582
• Equity at exit: $22,365

10-year hold

• IRR: 11.5%
• Equity multiple: 1.91×
• Total profit: $38,163
• Equity at exit: $12,969

Cash invested: $42,000 (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 30315

• Rents YoY: 3.2%
• Active inventory: 391
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,840 high
• Mortgage (P&I): −$787
• Tax from tax record: −$190 /mo · $2,276/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $415

Break-even live

Break-even rent $1,315

Max offer price $150,000

Occupancy floor 72%

Sensitivity live

Price	-10% $500	-5% $457	+0% $415	+5% $373	+10% $330
Rent	-10% $270	-5% $342	+0% $415	+5% $488	+10% $560
Rate	-1.0pp $491	-0.5pp $453	base $415	+0.5pp $376	+1.0pp $337

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1979 Turner Rd SE Atlanta, GA	3.0	1.0	808	$1,595	$1.97	12d	1	0.32mi
1979 Turner Rd SE Atlanta, GA	3.0	1.0	808	$1,595	$1.97	0d	1	0.32mi
972 Welch St SE Atlanta, GA	3.0	2.0	1100	$900	$0.82	6d	1	0.55mi
752 McDonough Blvd SE Atlanta, GA	3.0	2.0	1120	$1,895	$1.69	0d	1	0.70mi
752 McDonough Blvd SE Atlanta, GA	3.0	2.0	1120	$1,895	$1.69	25d	1	0.70mi
1940 Fisher Rd SE Atlanta, GA	2.0	1.0	760	$1,300	$1.71	25d	1	0.73mi
2087 Lakewood Trl SE Atlanta, GA	3.0	2.5	1056	$2,256	$2.14	25d	1	0.86mi
871 Hargis St SE Atlanta, GA	2.0	2.0	1040	$1,800	$1.73	25d	1	0.95mi
340 Adelle St SE Atlanta, GA	3.0	1.0	1122	$1,500	$1.34	4d	1	0.97mi
386 Lindsey Dr SE Atlanta, GA	3.0	1.0	1040	$1,793	$1.72	0d	1	0.98mi
1037 Rebel Forest Dr SE Atlanta, GA	3.0	2.0	1075	$1,750	$1.63	25d	1	0.99mi
1316 Moreland Ave SE Atlanta, GA	2.0	2.0	866	$2,026	$2.34	45d	1	1.12mi
1296 Moreland Ave SE Atlanta, GA	1.0–2.0	1.0–2.0	1000	$2,135	$2.13	0d	22	1.20mi
1875 Conrad Ave SE Atlanta, GA	3.0	2.0	1088	$1,768	$1.62	0d	1	1.21mi
76 Schell Rd SE Atlanta, GA	3.0	1.0	1080	$1,623	$1.50	25d	1	1.23mi
172 Meador Way SE Atlanta, GA	3.0	2.0	1100	$1,950	$1.77	25d	1	1.25mi
305 Banberry Dr SE Atlanta, GA	3.0	1.0	1000	$1,550	$1.55	0d	1	1.42mi
52 Claire Dr SE Atlanta, GA	2.0	2.0	800	$1,750	$2.19	20d	1	1.50mi

Listing history 22 events

1. 2026-06-21
   days on market $150,000 Active 44 DOM
2. 2026-06-18
   days on market $150,000 Active 41 DOM
3. 2026-06-17
   days on market $150,000 Active 40 DOM
4. 2026-06-16
   days on market $150,000 Active 39 DOM
5. 2026-06-15
   days on market $150,000 Active 38 DOM
6. 2026-06-13
   days on market $150,000 Active 36 DOM
7. 2026-06-13
   days on market $150,000 Active 35 DOM
8. 2026-06-09
   days on market $150,000 Active 32 DOM
9. 2026-06-08
   days on market $150,000 Active 31 DOM
10. 2026-06-07
    days on market $150,000 Active 30 DOM
11. 2026-06-04
    days on market $150,000 Active 27 DOM
12. 2026-06-03
    days on market $150,000 Active 26 DOM
13. 2026-06-02
    days on market $150,000 Active 25 DOM
14. 2026-06-01
    days on market $150,000 Active 24 DOM
15. 2026-05-31
    days on market $150,000 Active 23 DOM
16. 2026-05-13
    price $150,000 886-char remark

    Show marketing remark (886 chars)

    Welcome to this charming 3-bedroom, 1-bath ranch home in the heart of Atlanta! This property offers a great opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. Featuring a functional layout with 950 square feet of living space, this home sits on a spacious, level lot, providing plenty of outdoor potential for entertaining, gardening, or future improvements. Conveniently located with easy access to major highways, downtown Atlanta, Hartsfield-Jackson Airport, and local schools, this home combines accessibility with affordability. With no HOA and strong rental potential, this is an ideal option for buy-and-hold investors or those looking to personalize a home to their taste. Whether you're looking for your first home or your next investment, this property presents solid value and endless possibilities. Schedule your showing today!

17. 2026-05-13
    price $150,000 886-char remark

    Show marketing remark (886 chars)

    Welcome to this charming 3-bedroom, 1-bath ranch home in the heart of Atlanta! This property offers a great opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. Featuring a functional layout with 950 square feet of living space, this home sits on a spacious, level lot, providing plenty of outdoor potential for entertaining, gardening, or future improvements. Conveniently located with easy access to major highways, downtown Atlanta, Hartsfield-Jackson Airport, and local schools, this home combines accessibility with affordability. With no HOA and strong rental potential, this is an ideal option for buy-and-hold investors or those looking to personalize a home to their taste. Whether you're looking for your first home or your next investment, this property presents solid value and endless possibilities. Schedule your showing today!

18. 2026-05-07
    listed $135,000 New 886-char remark

    Show marketing remark (886 chars)

    Welcome to this charming 3-bedroom, 1-bath ranch home in the heart of Atlanta! This property offers a great opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. Featuring a functional layout with 950 square feet of living space, this home sits on a spacious, level lot, providing plenty of outdoor potential for entertaining, gardening, or future improvements. Conveniently located with easy access to major highways, downtown Atlanta, Hartsfield-Jackson Airport, and local schools, this home combines accessibility with affordability. With no HOA and strong rental potential, this is an ideal option for buy-and-hold investors or those looking to personalize a home to their taste. Whether you're looking for your first home or your next investment, this property presents solid value and endless possibilities. Schedule your showing today!

19. 2026-05-07
    listed $135,000 Active 886-char remark

    Show marketing remark (886 chars)

    Welcome to this charming 3-bedroom, 1-bath ranch home in the heart of Atlanta! This property offers a great opportunity for first-time homebuyers or savvy investors looking to expand their portfolio. Featuring a functional layout with 950 square feet of living space, this home sits on a spacious, level lot, providing plenty of outdoor potential for entertaining, gardening, or future improvements. Conveniently located with easy access to major highways, downtown Atlanta, Hartsfield-Jackson Airport, and local schools, this home combines accessibility with affordability. With no HOA and strong rental potential, this is an ideal option for buy-and-hold investors or those looking to personalize a home to their taste. Whether you're looking for your first home or your next investment, this property presents solid value and endless possibilities. Schedule your showing today!

20. 2008-11-26
    soldstatus $18,500

    Show marketing remark (264 chars)

    GREAT OPPORTUNITY FOR THIS BRICK RANCH ON A FULL BASEMENT. 3 LARGE BEDROOMS & 1 BATH. EAT IN KITCHEN WITH NEW CABINETS! LARGE FENCED-IN LOT. GREAT STARTER HOME OR RENTAL. TONS OF SPACE IN BASEMENT, COULD EASILY FINISH IT OUT FOR MORE SPACE. UPDATED ELECTRICAL.

21. 2008-11-04
    listed $21,900

    Show marketing remark (264 chars)

    GREAT OPPORTUNITY FOR THIS BRICK RANCH ON A FULL BASEMENT. 3 LARGE BEDROOMS & 1 BATH. EAT IN KITCHEN WITH NEW CABINETS! LARGE FENCED-IN LOT. GREAT STARTER HOME OR RENTAL. TONS OF SPACE IN BASEMENT, COULD EASILY FINISH IT OUT FOR MORE SPACE. UPDATED ELECTRICAL.

22. 2006-08-17
    soldstatus $70,000

ⓘ 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: $2,276 · $190/mo
• Projected year-2 tax: $2,276 · $190/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,083
• − Mortgage interest: −$8,402
• − Property taxes: −$2,276
• − Insurance: −$750
• − Repairs & maintenance: −$1,767
• − Management: −$1,767
• − Depreciation: −$4,364
• Taxable income: $2,758
• Est. tax owed @ 24.0%: −$662
• After-tax cash flow: $4,318/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): 34,264
• Household income: $50,822
• Rent vs Own: 56.7% rent · 43.3% own
• Severe rent burden: 2962.0

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 (72%)
• Race & ethnicity: Black 72% White 14% Hispanic / Latino 10% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 1% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 9% 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: ▼ -281.87%
• Current HPI: 176.673
• Rent YoY: ▲ 3.23%
• 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

-97.6% since first listed

8 events — show timeline

• 2026-05-22 Listed for Rent $1,650 FMLS
• 2026-05-13 Price Changed $150,000 GAMLS
• 2026-05-13 Price Changed $150,000 FMLS
• 2026-05-07 Listed $135,000 FMLS
• 2026-05-07 Listed $135,000 GAMLS
• 2008-11-26 Sold (MLS) $18,500 FMLS
• 2008-11-04 Listed $21,900 FMLS
• 2006-08-17 Sold (Public Records) $70,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,276 · -21.6% YoY. Source: county tax records.