1124 Lookout Ave NW · Atlanta, GA 30318

$135,000

1 bd · 1.0 ba · 3,532 sqft · MultiFamily public records · 85 Days on market

Built 1935 8,698 sqft lot $38/sqft · 62% below area ↓ 10% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

BUILDER/INVESTOR SPECIAL FOR A TOTAL GUT/REHAB OR TEAR DOWN! PREVIOUSLY ZONED AS A TRIPLEX, THERE ARE OTHER STRUCTURES ON THE PROPERTY. SOLD AS-IS, NO REPAIRS. ITS PARTIALLY BOARDED UP AND SHOWN BY APPOINMENT ONLY NO SHOWING TIME APPOINTMENTS, BUT FEEL FREE TO DRIVE BY BUT DON'T ATTEMPT TO ENTER. BEWARE THAT STRUCTURES IN THE BACK OF PROPERTY AREN'T SAFE TO ENTER AND WOODEN/METAL STEPS LOCATED OUTSIDE OF MAIN BUILDING ON EITHER SIDE ARE UNSTABLE AND UNSAFE - DO NOT ATTEMPT TO CLIMB! C3 ZONED R4A, VACANT SINCE 2013

Key facts

• 8,698 sq ft lot
• Built 1935
• Listed 84 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $4k ($43k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.
• Cap rate 38.2% 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 (+3.3%/yr); 722 active listings in the ZIP; solid renter incomes; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $5,826/mo this rent would consume 84% 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 $933 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 + 3.3% rent growth), your $38k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% 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 $126,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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 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: 4.32% ✓
• Cap rate: 38.18%
• Cash-on-cash: 113.90%
• DSCR: 6.07
• GRM: 1.9

CMA / ARV

• ARV (median comp): $354,305
• List price: $135,000
• Delta: -61.90%
• 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: —
• Equity multiple: 6.51×
• Total profit: $208,293
• Equity at exit: $20,129

10-year hold

• IRR: —
• Equity multiple: 13.76×
• Total profit: $482,476
• Equity at exit: $11,672

Cash invested: $37,800 (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: 5.8×

Monthly cashflow live

• Estimated rent: $5,826 high
• Mortgage (P&I): −$708
• Tax from tax record: −$251 /mo · $3,008/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,223
• Net cashflow: $3,588

Break-even live

Break-even rent $1,285

Max offer price $135,000

Occupancy floor 33%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.67	$5,826
Total (3 units)			$5,826

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-03
   days on market $135,000 Active 85 DOM
2. 2026-06-02
   days on market $135,000 Active 84 DOM
3. 2026-06-01
   days on market $135,000 Active 83 DOM
4. 2026-05-31
   days on market $135,000 Active 82 DOM
5. 2026-05-07
   price $135,000 519-char remark

   Show marketing remark (519 chars)

   BUILDER/INVESTOR SPECIAL FOR A TOTAL GUT/REHAB OR TEAR DOWN! PREVIOUSLY ZONED AS A TRIPLEX, THERE ARE OTHER STRUCTURES ON THE PROPERTY. SOLD AS-IS, NO REPAIRS. ITS PARTIALLY BOARDED UP AND SHOWN BY APPOINMENT ONLY NO SHOWING TIME APPOINTMENTS, BUT FEEL FREE TO DRIVE BY BUT DON'T ATTEMPT TO ENTER. BEWARE THAT STRUCTURES IN THE BACK OF PROPERTY AREN'T SAFE TO ENTER AND WOODEN/METAL STEPS LOCATED OUTSIDE OF MAIN BUILDING ON EITHER SIDE ARE UNSTABLE AND UNSAFE - DO NOT ATTEMPT TO CLIMB! C3 ZONED R4A, VACANT SINCE 2013

6. 2026-04-04
   status Active 519-char remark

   Show marketing remark (519 chars)

   BUILDER/INVESTOR SPECIAL FOR A TOTAL GUT/REHAB OR TEAR DOWN! PREVIOUSLY ZONED AS A TRIPLEX, THERE ARE OTHER STRUCTURES ON THE PROPERTY. SOLD AS-IS, NO REPAIRS. ITS PARTIALLY BOARDED UP AND SHOWN BY APPOINMENT ONLY NO SHOWING TIME APPOINTMENTS, BUT FEEL FREE TO DRIVE BY BUT DON'T ATTEMPT TO ENTER. BEWARE THAT STRUCTURES IN THE BACK OF PROPERTY AREN'T SAFE TO ENTER AND WOODEN/METAL STEPS LOCATED OUTSIDE OF MAIN BUILDING ON EITHER SIDE ARE UNSTABLE AND UNSAFE - DO NOT ATTEMPT TO CLIMB! C3 ZONED R4A, VACANT SINCE 2013

7. 2026-02-03
   status Pending 519-char remark

   Show marketing remark (519 chars)

   BUILDER/INVESTOR SPECIAL FOR A TOTAL GUT/REHAB OR TEAR DOWN! PREVIOUSLY ZONED AS A TRIPLEX, THERE ARE OTHER STRUCTURES ON THE PROPERTY. SOLD AS-IS, NO REPAIRS. ITS PARTIALLY BOARDED UP AND SHOWN BY APPOINMENT ONLY NO SHOWING TIME APPOINTMENTS, BUT FEEL FREE TO DRIVE BY BUT DON'T ATTEMPT TO ENTER. BEWARE THAT STRUCTURES IN THE BACK OF PROPERTY AREN'T SAFE TO ENTER AND WOODEN/METAL STEPS LOCATED OUTSIDE OF MAIN BUILDING ON EITHER SIDE ARE UNSTABLE AND UNSAFE - DO NOT ATTEMPT TO CLIMB! C3 ZONED R4A, VACANT SINCE 2013

8. 2026-01-26
   historical Active Under Contract 519-char remark

   Show marketing remark (519 chars)

   BUILDER/INVESTOR SPECIAL FOR A TOTAL GUT/REHAB OR TEAR DOWN! PREVIOUSLY ZONED AS A TRIPLEX, THERE ARE OTHER STRUCTURES ON THE PROPERTY. SOLD AS-IS, NO REPAIRS. ITS PARTIALLY BOARDED UP AND SHOWN BY APPOINMENT ONLY NO SHOWING TIME APPOINTMENTS, BUT FEEL FREE TO DRIVE BY BUT DON'T ATTEMPT TO ENTER. BEWARE THAT STRUCTURES IN THE BACK OF PROPERTY AREN'T SAFE TO ENTER AND WOODEN/METAL STEPS LOCATED OUTSIDE OF MAIN BUILDING ON EITHER SIDE ARE UNSTABLE AND UNSAFE - DO NOT ATTEMPT TO CLIMB! C3 ZONED R4A, VACANT SINCE 2013

9. 2026-01-08
   listed $150,000 Active 519-char remark

   Show marketing remark (519 chars)

   BUILDER/INVESTOR SPECIAL FOR A TOTAL GUT/REHAB OR TEAR DOWN! PREVIOUSLY ZONED AS A TRIPLEX, THERE ARE OTHER STRUCTURES ON THE PROPERTY. SOLD AS-IS, NO REPAIRS. ITS PARTIALLY BOARDED UP AND SHOWN BY APPOINMENT ONLY NO SHOWING TIME APPOINTMENTS, BUT FEEL FREE TO DRIVE BY BUT DON'T ATTEMPT TO ENTER. BEWARE THAT STRUCTURES IN THE BACK OF PROPERTY AREN'T SAFE TO ENTER AND WOODEN/METAL STEPS LOCATED OUTSIDE OF MAIN BUILDING ON EITHER SIDE ARE UNSTABLE AND UNSAFE - DO NOT ATTEMPT TO CLIMB! C3 ZONED R4A, VACANT SINCE 2013

ⓘ 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: $3,008 · $251/mo
• Projected year-2 tax: $3,008 · $251/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 ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $69,912
• − Mortgage interest: −$7,562
• − Property taxes: −$3,008
• − Insurance: −$675
• − Repairs & maintenance: −$5,593
• − Management: −$5,593
• − Depreciation: −$3,927
• Taxable income: $43,554
• Est. tax owed @ 24.0%: −$10,453
• After-tax cash flow: $32,599/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

-10.0% since first listed

5 events — show timeline

• 2026-05-07 Price Changed $135,000 FMLS
• 2026-04-04 Relisted — FMLS
• 2026-02-03 Pending — FMLS
• 2026-01-26 Contingent — FMLS
• 2026-01-08 Listed $150,000 FMLS

Property tax history

+1.4%/yr

Latest (2025): $3,008 · -10.1% YoY. Source: county tax records.