644 Lexington Ave SW · Atlanta, GA 30310

$205,000

2 bd · 1.0 ba · 1,710 sqft · SingleFamily public records · 126 Days on market

Built 1920 9,252 sqft lot $120/sqft · 51% below area ↓ 27% since listing

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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 +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.7/10.0
• 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

Incredible opportunity just steps from the Westside BeltLine! This property is zoned to allow for an ADU, with space in the rear offering additional value add potential. A full renovation is needed, making this ideal for an experienced investor or buyer ready to bring their vision to life. Perfect for a fix-and-flip or long-term buy-and-hold strategy. The surrounding area continues to show strong resale and rental demand, with renovated homes selling quickly and well-positioned rentals performing strongly. The entry price provides room for improvements and long-term appreciation in an established, rapidly evolving neighborhood.

Key facts

• Zoned for adu
• Strong rental demand
• Strong resale demand

Tags

• ZONED FOR ADU
• SPACE IN THE REAR
• FULL RENOVATION NEEDED
• STRONG RESALE DEMAND
• STRONG RENTAL DEMAND
• ESTABLISHED NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 (+2.8%/yr); 452 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $2,190/mo this rent would consume 50% of the median local household income ($53k/yr) (locally 1676% 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 $1k of loan paydown is wiped out by about $6k 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 126 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 7.42%
• Cash-on-cash: 4.01%
• DSCR: 1.18
• GRM: 7.8

CMA / ARV

• ARV (median comp): $420,623
• List price: $205,000
• Delta: -51.26%
• 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
520 Mary St SW	0.46mi	3/2.0 (+1)	1,666 (-3%)	1mo	$365,000	$219	64
776 Brookline St SW	0.36mi	3/2.0 (+1)	1,600 (-6%)	4mo	$352,000	$220	60
1464 Graham St SW	0.71mi	2/2.0	1,689 (-1%)	3mo	$399,000	$236	59
1444 Athens Ave	0.54mi	3/1.0 (+1)	1,850 (+8%)	2mo	$235,000	$127	54
515 Cohen St	0.60mi	3/2.5 (+1)	1,635 (-4%)	5mo	$325,000	$199	50
1526 Beatie Ave SW	0.68mi	3/3.0 (+1)	1,750 (+2%)	5mo	$417,500	$239	48
925 Tift Ave	0.46mi	3/2.0 (+1)	1,938 (+13%)	6mo	$235,000	$121	43
865 Rose Cir SW	0.70mi	3/2.0 (+1)	1,546 (-10%)	2mo	$415,000	$268	41
845 Metropolitan Pkwy SW	0.60mi	3/2.0 (+1)	1,500 (-12%)	4mo	$220,000	$147	40
1375 Hartford Ave SW	0.65mi	3/2.0 (+1)	1,507 (-12%)	3mo	$460,000	$305	38
988 Mcdaniel St SW	0.52mi	3/2.5 (+1)	1,484 (-13%)	6mo	$392,800	$265	38
964 Dill Ave SW	0.73mi	3/1.0 (+1)	1,478 (-14%)	2mo	$165,000	$112	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 · 2.77% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-21,404
• Equity at exit: $30,566

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-4,539
• Equity at exit: $17,725

Cash invested: $57,400 (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 30310

• Home prices YoY: -32.8%
• Rents YoY: 2.8%
• Active inventory: 452
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,190 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$378 /mo · $4,533/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $192

Break-even live

Break-even rent $1,947

Max offer price $205,000

Occupancy floor 86%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 Mayland Ave SW Atlanta, GA	3.0	2.0	1100	$2,300	$2.09	24d	1	0.15mi
1133 Mayland Cir SW Atlanta, GA	3.0	2.0	1120	$3,600	$3.21	24d	1	0.18mi
1246 Allene Ave SW Atlanta, GA	2.0	1.0–2.0	896	$2,110	$2.35	1d	23	0.19mi
610 Fletcher St SW Atlanta, GA	3.0	2.5	1550	$2,100	$1.35	24d	1	0.20mi
706 Catherine St SW Atlanta, GA	3.0	2.0	1352	$2,200	$1.63	7d	1	0.21mi
504 Dunbar St SW Atlanta, GA	3.0	2.5	1728	$1,625	$0.94	24d	1	0.28mi
1104 Welch St SW Atlanta, GA	1.0	1.0	1600	$795	$0.50	24d	1	0.28mi
1104 Welch St SW Atlanta, GA	1.0	1.0	1600	$1,350	$0.84	20d	1	0.28mi
1135 Coleman St SW Atlanta, GA	3.0	2.5	1353	$1,795	$1.33	24d	1	0.29mi
547 Erin Ave SW Atlanta, GA	3.0	2.0	1394	$2,600	$1.87	24d	1	0.29mi
547 Erin Ave SW Atlanta, GA	3.0	2.0	1400	$5,000	$3.57	2d	1	0.29mi
518 Erin Ave SW Atlanta, GA	2.0	1.0	1075	$2,500	$2.33	18d	1	0.35mi
821 Erin Ave SW Atlanta, GA	3.0	2.0	1535	$2,195	$1.43	24d	1	0.42mi
1153 Smith St SW Atlanta, GA	3.0	2.5	1728	$2,023	$1.17	12d	1	0.46mi
1151 Smith St SW Atlanta, GA	3.0	2.5	1728	$1,100	$0.64	24d	1	0.46mi
1264 Hartford Ave SW Atlanta, GA	3.0	2.0	1290	$1,989	$1.54	24d	1	0.48mi
827 Elbert St SW Atlanta, GA	3.0	2.0	1300	$2,900	$2.23	24d	1	0.50mi
1412 Allene Ave SW Atlanta, GA	3.0	2.0	1705	$2,500	$1.47	24d	1	0.50mi
1430 Desoto Ave SW Atlanta, GA	3.0	2.0	1224	$2,200	$1.80	24d	1	0.52mi
1443 Metropolitan Pkwy SW Atlanta, GA	3.0	2.0	1518	$2,200	$1.45	24d	1	0.53mi
496 Shannon Dr SW Atlanta, GA	3.0	2.0	1658	$2,900	$1.75	2d	1	0.53mi
496 Shannon Dr SW Atlanta, GA	3.0	2.0	1658	$3,250	$1.96	3d	1	0.53mi
1040 Smith St SW Atlanta, GA	3.0	2.5	1500	$1,595	$1.06	24d	1	0.53mi
1449 Athens Ave SW Atlanta, GA	1.0	1.0	2000	$595	$0.30	24d	1	0.53mi
1449 Beatie Ave SW Atlanta, GA	3.0	2.0	1628	$2,481	$1.52	22d	1	0.55mi
906 Allene Ave SW Atlanta, GA	3.0	2.0	1500	$3,500	$2.33	22d	1	0.57mi
875 Beryl St SW Atlanta, GA	3.0	2.5	2060	$2,850	$1.38	14d	1	0.57mi
490 Lynnhaven Dr SW Atlanta, GA	3.0	2.0	1289	$2,395	$1.86	4d	1	0.59mi
444 Shannon Dr SW Atlanta, GA	3.0	2.0	1600	$2,450	$1.53	24d	1	0.59mi
1048 Garibaldi St SW Atlanta, GA	2.0	2.0	1280	$2,150	$1.68	24d	1	0.61mi
1534 Beatie Ave SW Atlanta, GA	3.0	2.0	1050	$2,050	$1.95	24d	1	0.67mi
1141 Moton Ave SW Atlanta, GA	3.0	3.0	1584	$2,800	$1.77	24d	1	0.69mi
802 Lowndes Ave SW Atlanta, GA	3.0	2.0	1872	$2,550	$1.36	22d	1	0.71mi
776 Metropolitan Pkwy SW Atlanta, GA	2.0–3.0	2.0–3.0	1212	$2,165	$1.79	1d	6	0.76mi
903 Beecher St SW Atlanta, GA	3.0	2.0	1500	$7,500	$5.00	24d	1	0.87mi
903 Beecher St SW Unit 905 Beecher Atlanta, GA	3.0	2.0	1500	$4,000	$2.67	22d	1	0.87mi
2159 M L King Jr DR SW Atlanta, GA	1.0	1.0	1050	$800	$0.76	3d	1	0.90mi
1645 Metropolitan Pkwy SW Unit A Atlanta, GA	3.0	1.0	1433	$1,795	$1.25	24d	1	0.91mi
1077 Peeples St SW Atlanta, GA	1.0	1.0	1718	$1,000	$0.58	24d	1	0.92mi
746 Joseph E Lowery Blvd SW Atlanta, GA	3.0	2.5	1940	$2,550	$1.31	24d	1	0.94mi

Listing history 17 events

1. 2026-06-18
   days on market $205,000 Active 126 DOM
2. 2026-06-17
   days on market $205,000 Active 125 DOM
3. 2026-06-16
   days on market $205,000 Active 124 DOM
4. 2026-06-15
   days on market $205,000 Active 123 DOM
5. 2026-06-13
   days on market $205,000 Active 121 DOM
6. 2026-06-13
   days on market $205,000 Active 120 DOM
7. 2026-06-09
   days on market $205,000 Active 117 DOM
8. 2026-06-08
   days on market $205,000 Active 116 DOM
9. 2026-06-07
   days on market $205,000 Active 115 DOM
10. 2026-06-04
    days on market $205,000 Active 112 DOM
11. 2026-06-03
    days on market $205,000 Active 111 DOM
12. 2026-06-02
    days on market $205,000 Active 110 DOM
13. 2026-06-01
    days on market $205,000 Active 109 DOM
14. 2026-05-31
    days on market $205,000 Active 108 DOM
15. 2026-02-06
    listed $205,000 New 636-char remark

    Show marketing remark (716 chars)

    Incredible opportunity just steps from the Westside BeltLine! This property is zoned to allow for an ADU, with space in the rear offering additional value add potential. A full renovation is needed, making this ideal for an experienced investor or buyer ready to bring their vision to life. Perfect for a fix-and-flip or long-term buy-and-hold strategy. The surrounding area continues to show strong resale and rental demand, with renovated homes selling quickly and well-positioned rentals performing strongly. The entry price provides room for improvements and long-term appreciation in an established, rapidly evolving neighborhood. NO BLIND OFFERS. NO WHOLESALERS. NO CREATIVE FINANCING. CASH OR HARD MONEY ONLY.

16. 2026-02-06
    listed $205,000 Active 716-char remark

    Show marketing remark (716 chars)

    Incredible opportunity just steps from the Westside BeltLine! This property is zoned to allow for an ADU, with space in the rear offering additional value add potential. A full renovation is needed, making this ideal for an experienced investor or buyer ready to bring their vision to life. Perfect for a fix-and-flip or long-term buy-and-hold strategy. The surrounding area continues to show strong resale and rental demand, with renovated homes selling quickly and well-positioned rentals performing strongly. The entry price provides room for improvements and long-term appreciation in an established, rapidly evolving neighborhood. NO BLIND OFFERS. NO WHOLESALERS. NO CREATIVE FINANCING. CASH OR HARD MONEY ONLY.

17. 2005-01-25
    soldstatus $280,000

ⓘ 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: $4,533 · $378/mo
• Projected year-2 tax: $4,533 · $378/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 6/10 Major 7 d/yr ≥104°F today · 18 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: $26,278
• − Mortgage interest: −$11,483
• − Property taxes: −$4,533
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,102
• − Management: −$2,102
• − Depreciation: −$5,964
• Taxable loss: −$931
• Est. tax savings @ 24.0%: +$224
• After-tax cash flow: $2,525/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): 27,186
• Household income: $53,037
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 1676.0

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 (76%)
• Race & ethnicity: Black 76% White 14% Two or more races 4% Hispanic / Latino 4% Asian 2%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 0%
• Foreign-born: 5% · Canada, South Korea, Vietnam
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -204.00%
• Current HPI: 418.7297
• Rent YoY: ▲ 2.77%
• 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

-26.8% since first listed

3 events — show timeline

• 2026-02-06 Listed $205,000 FMLS
• 2026-02-06 Listed $205,000 GAMLS
• 2005-01-25 Sold (Public Records) $280,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $4,533 · +43.2% YoY. Source: county tax records.