215 Piedmont Ave NE #1906 · Atlanta, GA 30308

$150,000

2 bd · 2.0 ba · 1,256 sqft · Condo public records · 7 Days on market

Built 1963

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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 +10.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• DSCR +3.1/10.0
• Rent growth +2.8/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Downtown Atlanta location near I-75/I-85 Great area in the heart of Atlanta. Conveniently located in the center of it all. A must-see to truly appreciate. All units in this building ending in 6 feature an interior sunroom. Property sold as-is.

Key facts

• Interior sunroom
• 2 parking spots
• Built 1963

Tags

• DOWNTOWN ATLANTA LOCATION
• INTERIOR SUNROOM

Property features AI

Finance

• Financial info: Part of a one-unit community (single unit in building)
• HOA & community: Has association; Association amenities include cable TV, electricity, gas, grounds maintenance, pest control, security, swimming, tennis, and water

Exterior

• Parking: On-street parking (open); 2 total parking spaces
• Security: Association provides security
• Utilities: Public water; Public sewer; Electricity available; Water available; Sewer available
• Home design: Condominium; One level
• Construction: Stone construction; Other roof
• Exterior features: Other exterior features; City street frontage; Paved road access

Interior

• Kitchen: Walk-in pantry; Solid surface countertops
• Bedrooms: 2 main-level bedrooms
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms; Master bathroom with separate tub and shower
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Two or more common walls (attached unit); Other interior features
• Laundry & utility: Laundry features: other

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-70 ($-837/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 5.7% 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: Centennial Place Academy (Charter) (math 12% / reading 12%, grade F, #1,041 of 1,228 statewide, top 87%, 804 students, 100% FRL, charter); Midtown High School (math 22% / reading 34%, grade F, #151 of 424 statewide, top 36%, 1,602 students, 19% FRL).
• Market conditions: Rents rising (+1.1%/yr); 317 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 33% of the median local income ($86k/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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $64k; list at $150k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.

Recommended offer $150,000

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 1.55% ✓
• Cap rate: 5.74%
• Cash-on-cash: -1.99%
• DSCR: 0.91
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.12% rent growth · sell at horizon

5-year hold

• IRR: -23.2%
• Equity multiple: 0.23×
• Total profit: $-32,502
• Equity at exit: $22,365

10-year hold

• IRR: -30.1%
• Equity multiple: -0.16×
• Total profit: $-48,792
• 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 30308

• Rents YoY: 1.1%
• Active inventory: 317
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,330 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA est. from 5 same-building comps: −$874
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $-70

Break-even live

Break-even rent $2,419

Max offer price $139,912

Occupancy floor 98%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Piedmont Ave NE Atlanta, GA	2.0–3.0	1.0–2.0	1053	$1,930	$1.83	10d	3	0.02mi
215 Piedmont Ave NE Atlanta, GA	2.0–3.0	1.0–2.0	1053	$1,845	$1.75	4d	3	0.02mi
250 Piedmont Ave NE Atlanta, GA	1.0–2.0	1.0–2.0	1110	$2,536	$2.28	2d	20	0.11mi
161 Peachtree Center Ave NE Unit 2x2 Penthouse Atlanta, GA	2.0	2.0	1110	$3,393	$3.06	15d	1	0.19mi
161 Peachtree Center Ave NE Unit 2X2 Atlanta, GA	2.0	2.0	1141	$2,773	$2.43	15d	1	0.19mi
161 Peachtree Center Ave NE Atlanta, GA	3.0	1.0–3.5	1474	$4,371	$2.96	1d	27	0.23mi
131 Ralph McGill Blvd NE Atlanta, GA	2.0	1.0	1350	$1,495	$1.11	20d	1	0.28mi
131 Ralph McGill Blvd NE Atlanta, GA	1.0	1.0	1000	$1,472	$1.47	16d	2	0.28mi
131 Ralph McGill Blvd NE Atlanta, GA	1.0	1.0	1000	$1,472	$1.47	20d	2	0.28mi
131 Ralph McGill Blvd NE Atlanta, GA	1.0	1.0	1000	$1,450	$1.45	15d	1	0.28mi
131 Ralph McGill Blvd NE Atlanta, GA	1.0	1.0	1000	$1,472	$1.47	22d	2	0.28mi
Mc Gill Park Ave #405 Atlanta, GA	2.0	2.0	1458	$3,000	$2.06	24d	1	0.30mi
171 Auburn Ave NE Atlanta, GA	1.0–2.0	1.0–2.0	1080	$2,195	$2.03	1d	34	0.32mi
125 McGill Park Ave NE Atlanta, GA	1.0	1.0	1000	$2,100	$2.10	18d	1	0.34mi
375 Highland Ave NE #606 Atlanta, GA	2.0	2.5	1478	$2,800	$1.89	24d	1	0.39mi
400 Central Park Pl NE Atlanta, GA	3.0	1.0–2.0	1013	$2,469	$2.44	1d	19	0.41mi
375 Ralph McGill Blvd NE Atlanta, GA	2.0	1.0	1015	$1,968	$1.94	24d	2	0.44mi
375 Ralph McGill Blvd NE #1305 Atlanta, GA	2.0	1.0	1080	$1,975	$1.83	14d	1	0.44mi
450 Piedmont Ave NE Atlanta, GA	1.0–2.0	1.0–2.0	975	$2,646	$2.71	1d	12	0.47mi
123 Luckie St NW #1503 Atlanta, GA	2.0	2.0	1488	$3,800	$2.55	24d	1	0.49mi
384 Ralph McGill Blvd NE #410 Atlanta, GA	3.0	3.0	1444	$3,400	$2.35	18d	1	0.50mi
400 W Peachtree St NW #3511 Atlanta, GA	2.0	2.0	1075	$2,950	$2.74	24d	1	0.51mi
400 W Peachtree St NW #1412 Atlanta, GA	1.0	1.0	952	$1,995	$2.10	24d	1	0.51mi
400 W Peachtree St NW #711 Atlanta, GA	2.0	2.0	1075	$2,750	$2.56	24d	1	0.51mi
400 W Peachtree St NW #2504 Atlanta, GA	2.0	2.0	1127	$2,400	$2.13	24d	1	0.51mi
50 Peachtree St NW Atlanta, GA	1.0	1.0	817	$1,422	$1.74	5d	6	0.53mi
45 Ivan Allen Jr Blvd NW #2506 Atlanta, GA	2.0	2.0	1587	$5,750	$3.62	15d	1	0.54mi
433 Highland Ave NE Atlanta, GA	1.0–2.0	1.0–2.0	885	$1,697	$1.92	1d	13	0.55mi
305 Centennial Olympic Park Dr NW Atlanta, GA	2.0	1.0–2.0	916	$2,665	$2.91	1d	38	0.57mi
170 NE BLVD Unit 208E Atlanta, GA	1.0	1.0	1290	$4,000	$3.10	2d	1	0.58mi
32 Peachtree St NW Atlanta, GA	1.0–2.0	1.0–2.0	772	$1,775	$2.30	11d	1	0.58mi
505 Courtland St NE Atlanta, GA	3.0	1.0–2.0	982	$2,942	$2.99	1d	26	0.59mi
20 Marietta St NW Atlanta, GA	2.0	2.0	1156	$1,650	$1.43	22d	1	0.62mi
530 Piedmont Ave NE Atlanta, GA	1.0–2.0	1.0–2.0	1034	$2,372	$2.29	2d	12	0.64mi
369 Centennial Olympic Park Dr NW Atlanta, GA	2.0	1.0–2.0	1007	$2,875	$2.85	3d	24	0.65mi
419 Chamberlain St SE Atlanta, GA	2.0	1.0	1050	$1,433	$1.36	7d	2	0.65mi
419 Parkway Dr NE Atlanta, GA	2.0	2.0	1300	$2,125	$1.63	24d	1	0.65mi
486 Old Wheat St NE Unit C Atlanta, GA	2.0	1.0	1386	$2,500	$1.80	24d	1	0.65mi
357 Auburn Pointe Dr SE Atlanta, GA	1.0–2.0	1.0–2.0	917	$1,644	$1.79	1d	8	0.66mi
220 Renaissance Pkwy NE #2111 Atlanta, GA	1.0	1.0	881	$1,900	$2.16	7d	1	0.66mi

HOA detail condo

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

Listing history 7 events

1. 2026-06-18
   days on market $150,000 Active 7 DOM
2. 2026-06-17
   days on market $150,000 Active 6 DOM
3. 2026-06-16
   days on market $150,000 Active 5 DOM
4. 2026-06-15
   days on market $150,000 Active 4 DOM
5. 2026-06-13
   days on market $150,000 Active 2 DOM
6. 2026-06-13
   remarks 243-char remark
7. 2026-06-13
   listed $150,000 Active 1 DOM

ⓘ 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: $27,963
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,237
• − Management: −$2,237
• − HOA: −$10,488
• − Depreciation: −$4,364
• Taxable loss: −$2,765
• Est. tax savings @ 24.0%: +$664
• After-tax cash flow: $-173/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): 23,181
• Household income: $85,693
• Rent vs Own: 64.8% rent · 35.2% own
• Severe rent burden: 2306.0

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 0.64)
• Race & ethnicity: White 53% Black 26% Two or more races 10% Hispanic / Latino 7% Asian 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 2%
• Foreign-born: 12% · Canada, South Korea, China
• Languages at home: 85% English-only · Spanish 6% Other Indo-European 2% Other Asian/Pacific 2%

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: ▼ -293.30%
• Current HPI: 159.9963
• Rent YoY: ▲ 1.12%
• 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

+134.4% since first listed

6 events — show timeline

• 2026-06-11 Listed $150,000 FMLS
• 2026-06-11 Listed $150,000 GAMLS
• 2026-06-10 Coming Soon $150,000 GAMLS
• 2026-06-10 Coming Soon $150,000 FMLS
• 1986-11-17 Sold (Public Records) $64,000 Public Records
• 1986-11-17 Sold (Public Records) $64,000 Public Records

Property tax history

-13.3%/yr

Latest (2025): $59 · -80.8% YoY. Source: county tax records.