2103 Penelope St NW · Atlanta, GA 30314

$99,900

2 bd · 1.0 ba · 1,050 sqft · SingleFamily public records · 20 Days on market

Built 1954 9,748 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of Atlanta's Westside, this Penelope Street property offers a promising opportunity for buyers looking to add value in a thriving in-town community. The home sits near major redevelopment zones, parks, transit, and key city amenities, making it an appealing option for those seeking long-term potential. With the right vision, this property can be transformed to align with the continued growth of the surrounding area.

Key facts

• 9,748 sq ft lot
• Built 1954
• Listed 20 days

Property features AI

Exterior

• Parking: Driveway with open parking
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: One-level home
• Construction: Frame construction; Block foundation; Other roof type; Resale condition
• Exterior features: Paved road access; Driveway; Open parking available

Interior

• Kitchen: No specific kitchen features listed
• Bedrooms: Two main-level bedrooms
• Flooring: Other flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No shared/common walls; Crawl space
• Laundry & utility: No laundry details listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.

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: F. L. Stanton Elementary School (math 15% / reading 5%, grade F, #1,076 of 1,228 statewide, top 89%, 207 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 10% at this address vs 32% district-wide (-22 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 (+2.5%/yr); 293 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); lower-income renter base — watch delinquency; 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 $691 of loan paydown is wiped out by about $3k 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 + 2.5% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $65k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; list at $100k implies a 132% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.51% ✓
• Cap rate: 12.29%
• Cash-on-cash: 21.40%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $204,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2040 Penelope St NW	0.13mi	2/2.0	1,042 (-1%)	3mo	$160,000	$154	86
2081 Verbena St NW	0.11mi	3/2.0 (+1)	1,100 (+5%)	8mo	$215,000	$195	71
100 Dahlia Ave NW	0.49mi	2/1.5	1,050 (0%)	6mo	$245,696	$234	70
2219 Wingate St SW	0.46mi	2/2.0	1,066 (+2%)	8mo	$280,000	$263	65
170 Adeline Ave NW	0.51mi	3/2.0 (+1)	1,040 (-1%)	3mo	$235,000	$226	63
2200 Larchwood Rd SW	0.49mi	2/2.0	984 (-6%)	3mo	$146,000	$148	60
346 Henry Aaron Ave SW	0.50mi	3/1.0 (+1)	1,108 (+6%)	7mo	$149,000	$134	56
305 Henry Aaron Ave SW	0.43mi	3/2.0 (+1)	1,144 (+9%)	6mo	$320,000	$280	51
191 Florida Ave SW	0.59mi	3/1.0 (+1)	950 (-10%)	3mo	$135,000	$142	49
354 Henry Aaron Ave SW	0.54mi	3/2.0 (+1)	1,113 (+6%)	8mo	$199,000	$179	49
2274 Larchwood Rd SW	0.56mi	3/1.0 (+1)	1,152 (+10%)	7mo	$70,000	$61	47
102 Dahlia Ave NW	0.50mi	3/2.0 (+1)	1,200 (+14%)	6mo	$244,000	$203	39

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 · 2.53% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.53×
• Total profit: $14,901
• Equity at exit: $14,895

10-year hold

• IRR: 21.9%
• Equity multiple: 2.83×
• Total profit: $51,103
• Equity at exit: $8,638

Cash invested: $27,972 (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 30314

• Home prices YoY: -22.9%
• Rents YoY: 2.5%
• Active inventory: 293
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,505 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $499

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 62%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
295 Penelope Dr NW Atlanta, GA	1.0–2.0	1.0	751	$1,542	$2.05	22d	1	0.36mi
1839 Penelope Rd NW Atlanta, GA	3.0	1.0	988	$1,400	$1.42	24d	1	0.39mi
166 Anderson Ave NW Unit B17 Atlanta, GA	2.0	1.0	760	$1,150	$1.51	24d	1	0.43mi
166 Anderson Ave NW Unit B18 Atlanta, GA	2.0	1.0	760	$1,095	$1.44	3d	1	0.43mi
166 Anderson Ave NW Unit B12 Atlanta, GA	2.0	1.0	760	$1,095	$1.44	8d	1	0.43mi
166 Anderson Ave NW Apt B4 Atlanta, GA	2.0	1.0	760	$1,095	$1.44	12d	1	0.43mi
2227 Telhurst St SW Atlanta, GA	2.0	2.0	928	$1,395	$1.50	14d	1	0.45mi
2227 Telhurst St SW Atlanta, GA	2.0	2.0	928	$1,395	$1.50	4d	1	0.45mi
324 Brooks Ave SW Unit A Atlanta, GA	2.0	1.0	1176	$1,000	$0.85	24d	1	0.49mi
324 Brooks Ave SW Unit B Atlanta, GA	2.0	1.0	1176	$1,050	$0.89	24d	1	0.49mi
273 Wadley St NW Atlanta, GA	3.0	2.0	1406	$1,990	$1.42	24d	1	0.50mi
0 W Lake Ave NW Atlanta, GA	3.0	2.5	1300	$1,900	$1.46	2d	1	0.56mi
364 Brooks Ave SW Atlanta, GA	3.0	2.0	1134	$1,495	$1.32	8d	1	0.57mi
2111 Martin Luther King Junior Dr NW Atlanta, GA	3.0	1.0	1470	$1,800	$1.22	24d	1	0.60mi
1824 Tiger Flowers Dr NW Atlanta, GA	1.0	1.0	1400	$925	$0.66	24d	1	0.61mi
269 Florida Ave SW Atlanta, GA	3.0	1.0	925	$1,850	$2.00	24d	1	0.64mi
2199 Tiger Flowers Dr NW Atlanta, GA	3.0	1.0	936	$1,325	$1.42	24d	1	0.65mi
156 Fairfield Pl NW Unit B-9 Atlanta, GA	2.0	1.0	750	$1,199	$1.60	24d	1	0.66mi
1770 Springview Rd NW Atlanta, GA	3.0	2.0	1262	$2,000	$1.58	24d	1	0.73mi
2423 M.L.K. Jr Dr SW Atlanta, GA	1.0–3.0	1.0–2.0	1120	$1,356	$1.21	2d	19	0.75mi
176 Racine St SW Atlanta, GA	3.0	2.0	1423	$2,800	$1.97	24d	1	0.77mi
195 W Lake Ave NW Unit 1 Atlanta, GA	3.0	2.0	1245	$2,654	$2.13	24d	1	0.77mi
1916 Joseph E. Boone Blvd NW Unit B Atlanta, GA	2.0	1.0	1000	$1,195	$1.20	24d	1	0.79mi
1916 Joseph E. Boone Blvd NW Unit A Atlanta, GA	3.0	1.0	1100	$1,550	$1.41	21d	1	0.79mi
240 Whitaker Cir NW Atlanta, GA	1.0	1.0	1414	$665	$0.47	5d	1	0.82mi
240 Whitaker Cir NW Atlanta, GA	1.0	1.0	1414	$685	$0.48	18d	1	0.82mi
340 Dixie Hills Cir NW Unit C1 Atlanta, GA	2.0	1.0	775	$1,099	$1.42	24d	1	0.84mi
1699 Derry Ave SW Atlanta, GA	2.0	1.0	825	$1,800	$2.18	24d	1	0.89mi
39 Holly Rd NW Atlanta, GA	1.0	1.0	1120	$970	$0.87	8d	1	0.97mi
39 Holly Rd NW Atlanta, GA	1.0	1.0	1120	$775	$0.69	24d	1	0.97mi
1948 Detroit Ave NW Unit A Atlanta, GA	3.0	2.5	1205	$1,900	$1.58	24d	1	0.97mi
2059 Detroit Ave NW Atlanta, GA	2.0	1.0	750	$1,340	$1.79	22d	1	0.98mi
2506 Godfrey Dr NW Atlanta, GA	1.0	1.0	1344	$650	$0.48	24d	1	1.00mi
1894 North Ave NW Atlanta, GA	2.0	1.5	1098	$1,995	$1.82	24d	1	1.08mi
518 Pelton Pl NW Atlanta, GA	1.0	1.0	1036	$750	$0.72	24d	1	1.11mi
390 W Lake Ave NW Apt A1 Atlanta, GA	3.0	1.5	1256	$1,299	$1.03	24d	1	1.11mi
390 W Lake Ave NW Unit A10 Atlanta, GA	3.0	1.5	1256	$1,275	$1.02	24d	1	1.11mi
390 W Lake Ave NW Unit B9 Atlanta, GA	2.0	1.5	1256	$1,275	$1.02	24d	1	1.11mi
1619 Stokes Ave SW Atlanta, GA	3.0	2.0	1332	$2,400	$1.80	3d	1	1.11mi
511 Emily Pl NW Atlanta, GA	3.0	1.0	1101	$1,745	$1.58	24d	1	1.12mi

Listing history 14 events

1. 2026-06-18
   days on market $99,900 Active 20 DOM
2. 2026-06-17
   days on market $99,900 Active 19 DOM
3. 2026-06-16
   days on market $99,900 Active 18 DOM
4. 2026-06-15
   days on market $99,900 Active 17 DOM
5. 2026-06-13
   days on market $99,900 Active 15 DOM
6. 2026-06-13
   days on market $99,900 Active 14 DOM
7. 2026-06-09
   days on market $99,900 Active 11 DOM
8. 2026-06-08
   days on market $99,900 Active 10 DOM
9. 2026-06-07
   days on market $99,900 Active 9 DOM
10. 2026-06-04
    pricedays on market $99,900 Active 6 DOM
11. 2026-06-03
    days on market $164,900 Active 5 DOM
12. 2026-06-02
    days on market $164,900 Active 4 DOM
13. 2026-06-01
    days on market $164,900 Active 3 DOM
14. 2026-05-31
    days on market $164,900 Active 2 DOM

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

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 · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,065
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,445
• − Management: −$1,445
• − Depreciation: −$2,906
• Taxable income: $4,674
• Est. tax owed @ 24.0%: −$1,122
• After-tax cash flow: $4,865/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): 23,333
• Household income: $42,089
• Rent vs Own: 56.7% rent · 43.3% own
• Severe rent burden: 1293.0

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 11% Hispanic / Latino 7% Asian 4% Two or more races 3%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 1% Chinese 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: ▼ -95.32%
• Current HPI: 321.4626
• Rent YoY: ▲ 2.53%
• 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

+283.5% since first listed

3 events — show timeline

• 2026-05-29 Listed $164,900 GAMLS
• 2026-05-29 Listed $164,900 FMLS
• 1989-08-11 Sold (Public Records) $43,000 Public Records

Property tax history

-15.0%/yr

Latest (2025): $11 · -54.8% YoY. Source: county tax records.