420 Griffin St NW · Atlanta, GA 30318

$515,000

6 bd · 3.0 ba · 2,380 sqft · MultiFamily public records · 38 Days on market

Built 1950 5,270 sqft lot

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Why this score? — see what drove the D+ 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 +18.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +4.7/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Welcome to 420 Griffin Street NW - an exceptional opportunity to own a triplex in one of Atlanta's fastest-growing and rapidly revitalizing areas. Conveniently located just minutes from Downtown Atlanta, Mercedes-Benz Stadium, Georgia Tech, the Atlanta BeltLine, and the exciting Centennial Yards redevelopment, this property offers strong upside potential for seasoned investors, developers, and renovation specialists. Each of the three units features 2 bedrooms and 1 full bathroom, along with hardwood flooring, spacious living areas, dedicated kitchen spaces, and custom-tiled bathrooms. The property layout includes one lower-level unit and two upper-level units, creating flexibility for multiple rental strategies or the opportunity to generate income from all three units. The property has experienced vandalism and is in need of major repairs and renovation. Utilities are currently off, and the property is being sold strictly as-is. This is a true value-add opportunity for buyers looking to restore, reposition, or redevelop a multifamily asset in an area experiencing significant growth and redevelopment. Located in the heart of Atlanta's transforming Westside, the area continues to benefit from major economic investment tied to the 2026 World Cup, Centennial Yards expansion, and ongoing redevelopment projects throughout the surrounding community. Conveniently located near MARTA's Vine City Station with quick access to I-20 and I-75/85, the property is also positioned near several major colleges and universities including Georgia State University and the AU Center. This triplex is perfect for savvy investors, developers, or owner-occupants seeking to build equity in one of Atlanta's hottest neighborhoods.

Key facts

• Hardwood flooring
• Lower-level unit
• Upper-level units

Tags

• HARDWOOD FLOORING
• SPACIOUS LIVING AREAS
• DEDICATED KITCHEN SPACES
• CUSTOM-TILED BATHROOMS
• LOWER-LEVEL UNIT
• UPPER-LEVEL UNITS

Property features AI

Exterior

• Parking: Parking for 3 vehicles; See remarks for additional parking details
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Multi-family property with three units; Two levels
• Construction: Concrete and brick construction; Composition roof
• Exterior features: Paved parking lot; Property near Beltline; Gated community

Interior

• Bedrooms: Total of 3 units (multi-family property)
• Heating & cooling: Central heating; Cooling listed as other
• Interior features: Two-story layout; Property listed as a fixer

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $515k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive. Per door: $175/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $500k (2.9% below list).
• Recommended offer: $500k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: Michael R. Hollis Innovation Academy (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 653 students, 100% FRL); Booker T. Washington High School (math 24% / reading 24%, grade F, #184 of 424 statewide, top 48%, 831 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 15% at this address vs 32% district-wide (-17 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 (+3.3%/yr); 722 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $5,001/mo this rent would consume 72% of the median local household income ($83k/yr) (locally 4182% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $15k 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 38 days — a 3% lower offer ($500k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $499,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 7.51%
• Cash-on-cash: 4.36%
• DSCR: 1.19
• GRM: 8.6

CMA / ARV

• ARV (median comp): $1,030,611
• List price: $515,000
• Delta: -50.03%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.26% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-48,764
• Equity at exit: $76,788

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $5,908
• Equity at exit: $44,528

Cash invested: $144,200 (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 30318

• Rents YoY: 3.3%
• Active inventory: 722
• Price-to-rent: 25.7×

Monthly cashflow live

• Estimated rent: $5,001 high
• Mortgage (P&I): −$2,701
• Tax from tax record: −$511 /mo · $6,136/yr
• Insurance: −$215
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,050
• Net cashflow: $524

Break-even live

Break-even rent $4,338

Max offer price $515,000

Occupancy floor 85%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,001
Total (3 units)			$5,001

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: $128,750
• Closing costs: $15,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1032 Lena St NW Atlanta, GA	5.0	3.5	2976	$3,495	$1.17	24d	1	0.93mi
1040 Palmetto Ave SW Atlanta, GA	5.0	2.0	3352	$3,250	$0.97	24d	1	1.17mi

Listing history 50 events

1. 2026-06-18
   days on market $515,000 Active 38 DOM
2. 2026-06-17
   days on market $515,000 Active 37 DOM
3. 2026-06-16
   days on market $515,000 Active 36 DOM
4. 2026-06-15
   days on market $515,000 Active 35 DOM
5. 2026-06-13
   days on market $515,000 Active 33 DOM
6. 2026-06-13
   days on market $515,000 Active 32 DOM
7. 2026-06-09
   days on market $515,000 Active 29 DOM
8. 2026-06-08
   days on market $515,000 Active 28 DOM
9. 2026-06-07
   days on market $515,000 Active 27 DOM
10. 2026-06-04
    days on market $515,000 Active 24 DOM
11. 2026-06-03
    days on market $515,000 Active 23 DOM
12. 2026-06-02
    days on market $515,000 Active 22 DOM
13. 2026-06-01
    days on market $515,000 Active 21 DOM
14. 2026-05-31
    days on market $515,000 Active 20 DOM
15. 2026-05-11
    listed $515,000 New 1731-char remark

    Show marketing remark (1731 chars)

    Welcome to 420 Griffin Street NW - an exceptional opportunity to own a triplex in one of Atlanta's fastest-growing and rapidly revitalizing areas. Conveniently located just minutes from Downtown Atlanta, Mercedes-Benz Stadium, Georgia Tech, the Atlanta BeltLine, and the exciting Centennial Yards redevelopment, this property offers strong upside potential for seasoned investors, developers, and renovation specialists. Each of the three units features 2 bedrooms and 1 full bathroom, along with hardwood flooring, spacious living areas, dedicated kitchen spaces, and custom-tiled bathrooms. The property layout includes one lower-level unit and two upper-level units, creating flexibility for multiple rental strategies or the opportunity to generate income from all three units. The property has experienced vandalism and is in need of major repairs and renovation. Utilities are currently off, and the property is being sold strictly as-is. This is a true value-add opportunity for buyers looking to restore, reposition, or redevelop a multifamily asset in an area experiencing significant growth and redevelopment. Located in the heart of Atlanta's transforming Westside, the area continues to benefit from major economic investment tied to the 2026 World Cup, Centennial Yards expansion, and ongoing redevelopment projects throughout the surrounding community. Conveniently located near MARTA's Vine City Station with quick access to I-20 and I-75/85, the property is also positioned near several major colleges and universities including Georgia State University and the AU Center. This triplex is perfect for savvy investors, developers, or owner-occupants seeking to build equity in one of Atlanta's hottest neighborhoods.

16. 2026-05-11
    listed $515,000 Active 1755-char remark

    Show marketing remark (1731 chars)

    Welcome to 420 Griffin Street NW - an exceptional opportunity to own a triplex in one of Atlanta's fastest-growing and rapidly revitalizing areas. Conveniently located just minutes from Downtown Atlanta, Mercedes-Benz Stadium, Georgia Tech, the Atlanta BeltLine, and the exciting Centennial Yards redevelopment, this property offers strong upside potential for seasoned investors, developers, and renovation specialists. Each of the three units features 2 bedrooms and 1 full bathroom, along with hardwood flooring, spacious living areas, dedicated kitchen spaces, and custom-tiled bathrooms. The property layout includes one lower-level unit and two upper-level units, creating flexibility for multiple rental strategies or the opportunity to generate income from all three units. The property has experienced vandalism and is in need of major repairs and renovation. Utilities are currently off, and the property is being sold strictly as-is. This is a true value-add opportunity for buyers looking to restore, reposition, or redevelop a multifamily asset in an area experiencing significant growth and redevelopment. Located in the heart of Atlanta's transforming Westside, the area continues to benefit from major economic investment tied to the 2026 World Cup, Centennial Yards expansion, and ongoing redevelopment projects throughout the surrounding community. Conveniently located near MARTA's Vine City Station with quick access to I-20 and I-75/85, the property is also positioned near several major colleges and universities including Georgia State University and the AU Center. This triplex is perfect for savvy investors, developers, or owner-occupants seeking to build equity in one of Atlanta's hottest neighborhoods.

17. 2026-01-21
    historical
18. 2025-11-18
    price $574,900
19. 2025-10-21
    listed $580,000 New
20. 2025-08-31
    historical
21. 2025-08-31
    historical
22. 2025-07-03
    listed $650,000 Active
23. 2025-07-03
    listed $650,000 New
24. 2025-07-01
    historical
25. 2025-07-01
    historical
26. 2025-06-07
    listed $650,000 Active
27. 2025-06-07
    listed $650,000 New
28. 2025-05-31
    historical
29. 2025-05-31
    historical
30. 2025-05-08
    listed $700,000 Active
31. 2025-05-02
    historical
32. 2025-05-01
    listed $700,000 New
33. 2022-09-06
    soldstatus $547,000
34. 2022-09-02
    soldstatus $547,000 Sold
35. 2022-09-02
    soldstatus $547,000 Closed
36. 2022-08-23
    historical Active Under Contract
37. 2022-07-22
    status Under Contract
38. 2022-07-22
    status Pending
39. 2022-07-07
    listed $599,900 New
40. 2022-07-07
    listed $599,900 Active
41. 2022-07-01
    historical
42. 2022-06-27
    listed $599,000 New
43. 2018-12-06
    soldstatus $83,000 Sold
44. 2018-11-27
    soldstatus $83,000 Sold
45. 2018-11-01
    historical
46. 2018-11-01
    historical
47. 2018-10-17
    price $87,000
48. 2018-10-16
    price $87,500
49. 2018-10-10
    price $89,900
50. 2018-10-02
    price $92,000

ⓘ 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: $6,136 · $511/mo
• Projected year-2 tax: $6,136 · $511/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,012
• − Mortgage interest: −$28,848
• − Property taxes: −$6,136
• − Insurance: −$2,575
• − Repairs & maintenance: −$4,801
• − Management: −$4,801
• − Depreciation: −$14,982
• Taxable loss: −$2,131
• Est. tax savings @ 24.0%: +$511
• After-tax cash flow: $6,801/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): 59,609
• Household income: $83,116
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 4182.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Black 49% White 35% Hispanic / Latino 7% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 1%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 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: ▼ -470.82%
• Current HPI: 224.1493
• Rent YoY: ▲ 3.26%
• 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

+2119.8% since first listed

48 events — show timeline

• 2026-05-11 Listed $515,000 FMLS
• 2026-05-11 Listed $515,000 GAMLS
• 2026-01-21 Listing Removed — GAMLS
• 2025-11-18 Price Changed $574,900 GAMLS
• 2025-10-21 Listed $580,000 GAMLS
• 2025-08-31 Listing Removed — GAMLS
• 2025-08-31 Listing Removed — FMLS
• 2025-07-03 Listed $650,000 GAMLS
• 2025-07-03 Listed $650,000 FMLS
• 2025-07-01 Listing Removed — GAMLS
• 2025-07-01 Listing Removed — FMLS
• 2025-06-07 Listed $650,000 GAMLS
• 2025-06-07 Listed $650,000 FMLS
• 2025-05-31 Listing Removed — GAMLS
• 2025-05-31 Listing Removed — FMLS
• 2025-05-08 Listed $700,000 FMLS
• 2025-05-02 Coming Soon — FMLS
• 2025-05-01 Listed $700,000 GAMLS
• 2022-09-06 Sold (Public Records) $547,000 Public Records
• 2022-09-02 Sold (MLS) $547,000 FMLS
• 2022-09-02 Sold (MLS) $547,000 GAMLS
• 2022-08-23 Contingent — FMLS
• 2022-07-22 Pending — GAMLS
• 2022-07-22 Pending — FMLS
• 2022-07-07 Listed $599,900 FMLS
• 2022-07-07 Listed $599,900 GAMLS
• 2022-07-01 Listing Removed — GAMLS
• 2022-06-27 Listed $599,000 GAMLS
• 2018-12-06 Sold (MLS) $83,000 GAMLS
• 2018-11-27 Sold (MLS) $83,000 FMLS
• 2018-11-01 Listing Removed — GAMLS
• 2018-11-01 Listing Removed — FMLS
• 2018-10-17 Price Changed $87,000 FMLS
• 2018-10-16 Price Changed $87,500 FMLS
• 2018-10-10 Price Changed $89,900 FMLS
• 2018-10-02 Price Changed $92,000 FMLS
• 2018-09-18 Price Changed $99,700 FMLS
• 2018-09-14 Relisted — GAMLS
• 2018-09-14 Relisted — FMLS
• 2018-09-11 Pending — GAMLS
• 2018-09-11 Contingent — FMLS
• 2018-08-30 Price Changed $99,800 FMLS
• 2018-08-09 Sold (Public Records) $50,000 Public Records
• 2018-08-09 Sold (Public Records) $50,000 Public Records
• 2018-08-01 Listed $99,900 GAMLS
• 2018-08-01 Listed $99,900 FMLS
• 2006-07-07 Sold (Public Records) $54,000 Public Records
• 1988-10-21 Sold (Public Records) $23,200 Public Records

Property tax history

+9.1%/yr

Latest (2025): $6,136 · -7.3% YoY. Source: county tax records.