2657 Lenox Rd Unit B23 · Atlanta, GA 30324

$165,000

1 bd · 1.0 ba · 1,000 sqft · Condo · 10 Days on market

Built 1994 $259/mo HOA · 15% of rent

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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 +11.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• DSCR +3.2/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic end unit condo minutes to parks, shops, and restaurants plus easy access to interstates! Gated community w/manicured grounds, swimming pool, clubhouse w/outdoor kitchen, pet walks & gym facilities. Features include hardwood floors, eat-in kit w/SS appliances and granite counters. Fresh paint thru-out and sep laundry room. Living Rm opens to the bonus office/den with sliding doors that open to double as a porch. Large bedroom with his/hers closets! Great location between Midtown and Buckhead and great community with low HOA fees and tons of amenities!

Key facts

• Top dining
• Spacious living area
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• SPACIOUS LIVING AREA
• WELL-DESIGNED KITCHEN
• MINUTES FROM LENOX SQUARE
• MINUTES FROM PHIPPS PLAZA
• TOP DINING

Property features AI

Finance

• Other: Part of a 221-unit community
• HOA & community: Monthly association fee of $259; Community amenities include clubhouse, fitness center, pool, tennis courts, barbecue area, and homeowner's association; Near schools and shopping

Exterior

• Parking: Parking lot
• Security: Gated community
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available; Phone available
• Home design: Condominium; One level
• Construction: Concrete, stucco, and cement siding construction; Composition roof; Slab foundation; Resale condition; Built with energy-efficient thermostat and windows
• Exterior features: In-ground fenced pool; Concrete road surface; City street frontage

Interior

• Kitchen: Breakfast bar; Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: One bedroom on the main level
• Flooring: Hardwood
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Living space available; One common wall
• Laundry & utility: Washer and dryer on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-68 ($-815/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (6.0% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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: Sara Rawson Smith Elementary School (math 57% / reading 59%, grade C+, #143 of 1,228 statewide, top 12%, 865 students, 26% FRL); Willis A. Sutton Middle School (math 36% / reading 55%, grade D+, #97 of 470 statewide, top 22%, 1,548 students, 34% FRL); North Atlanta High School (math 27% / reading 17%, grade F, #213 of 424 statewide, top 51%, 2,316 students, 24% FRL) — zoned schools average 28% FRL vs 71% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 327 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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.

Recommended offer $155,168 (6.0% below list)

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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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: 1.02% ✓
• Cap rate: 5.80%
• Cash-on-cash: -1.76%
• DSCR: 0.92
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.04% rent growth · sell at horizon

5-year hold

• IRR: -23.3%
• Equity multiple: 0.23×
• Total profit: $-35,755
• Equity at exit: $24,602

10-year hold

• IRR: -32.5%
• Equity multiple: -0.19×
• Total profit: $-54,811
• Equity at exit: $14,266

Cash invested: $46,200 (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 30324

• Rents YoY: 0.0%
• Active inventory: 327
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,685 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$259
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $-68

Break-even live

Break-even rent $1,771

Max offer price $155,168

Occupancy floor 99%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2657 Lenox Rd NE Atlanta, GA	2.0	2.0	949	$1,850	$1.95	3d	2	0.02mi
2657 Lenox Rd NE #110 Atlanta, GA	2.0	2.0	949	$1,850	$1.95	24d	1	0.03mi
2572 Lenox Rd NE Atlanta, GA	1.0–3.0	1.0–2.0	936	$1,175	$1.26	24d	1	0.16mi
925 Canterbury Rd NE Atlanta, GA	1.0–3.0	1.0–2.0	1547	$1,369	$0.88	1d	29	0.23mi
970 Sidney Marcus Blvd NE #1206 Atlanta, GA	1.0	1.0	840	$1,500	$1.79	4d	1	0.23mi
3312 Pine Heights Dr NE Atlanta, GA	2.0	2.0	1249	$1,995	$1.60	24d	1	0.29mi
2301 Pine Heights Dr NE Atlanta, GA	2.0	2.0	1249	$2,100	$1.68	18d	1	0.29mi
2770 Lenox Rd NE Atlanta, GA	2.0	2.0	1262	$1,930	$1.53	2d	1	0.30mi
2500 Pine Tree Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	875	$1,309	$1.50	24d	1	0.33mi
2700 Pine Tree Rd NE #1115 Atlanta, GA	1.0	1.0	784	$1,695	$2.16	4d	1	0.37mi
2716 Buford Hwy NE Atlanta, GA	2.0	1.0	595	$1,500	$2.52	24d	1	0.39mi
2865 Lenox Rd NE Atlanta, GA	2.0	2.0	1659	$2,798	$1.69	7d	2	0.42mi
1680 Chantilly Dr NE Atlanta, GA	1.0–2.0	1.0–2.0	800	$1,077	$1.35	1d	19	0.42mi
201 Lenox Way NE Atlanta, GA	2.0	2.0	1228	$2,000	$1.63	24d	1	0.47mi
207 Lenox Rd NE Unit 207 Atlanta, GA	2.0	2.0	1105	$2,250	$2.04	24d	1	0.48mi
603 Summit North Dr NE #603 Atlanta, GA	2.0	2.0	1280	$1,800	$1.41	2d	1	0.52mi
603 Summit North Dr NE #603 Atlanta, GA	2.0	2.0	1280	$1,800	$1.41	7d	1	0.52mi
2380 Strathmore Dr NE Atlanta, GA	2.0	1.0	1116	$2,400	$2.15	24d	1	0.54mi
2921 Lenox Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	1177	$1,850	$1.57	22d	2	0.54mi
2921 Lenox Rd NE #407 Atlanta, GA	1.0	1.0	1000	$2,000	$2.00	17d	1	0.54mi
761 Morosgo Dr NE Atlanta, GA	2.0	1.0–2.0	980	$1,787	$1.82	1d	15	0.63mi
740 Sidney Marcus Blvd NE Atlanta, GA	1.0–2.0	1.0–2.0	882	$1,299	$1.47	1d	21	0.63mi
711 Cosmopolitan Dr NE Atlanta, GA	1.0–2.0	1.5–2.0	941	$1,950	$2.07	12d	2	0.68mi
711 Cosmopolitan Dr NE Atlanta, GA	1.0–2.0	1.5–2.5	1177	$1,650	$1.40	22d	4	0.68mi
1155 Lavista Rd NE Atlanta, GA	2.0–3.0	2.0	1180	$2,038	$1.73	1d	16	0.68mi
50 S Executive Park NE Atlanta, GA	3.0	1.0–2.0	990	$2,417	$2.44	1d	19	0.68mi
25312 Plantation Dr NE Atlanta, GA	2.0	2.0	1318	$2,350	$1.78	4d	1	0.71mi
25216 Plantation Dr NE Atlanta, GA	2.0	2.0	1462	$2,600	$1.78	24d	1	0.71mi
24307 Plantation Dr NE Atlanta, GA	1.0	1.0	816	$1,995	$2.44	14d	1	0.72mi
23311 Plantation Dr NE Atlanta, GA	2.0	2.0	1224	$2,000	$1.63	24d	1	0.72mi
23212 Plantation Dr NE Atlanta, GA	2.0	2.0	1224	$2,100	$1.72	24d	1	0.72mi
741 Morosgo Dr NE Atlanta, GA	2.0	1.0–2.0	965	$1,789	$1.85	1d	20	0.73mi
2230 Cheshire Bridge Rd NE #504 Atlanta, GA	2.0	2.0	1137	$1,850	$1.63	24d	1	0.76mi
2255 Lenox Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	875	$1,050	$1.20	24d	5	0.76mi
1470 Sheridan Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	824	$1,108	$1.34	4d	25	0.77mi
2399 Parkland Dr NE Atlanta, GA	2.0	1.0–2.0	935	$1,614	$1.73	1d	49	0.80mi
2591 Piedmont Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	1019	$1,398	$1.37	1d	20	0.82mi
658 Lindbergh Dr NE Atlanta, GA	1.0–2.0	1.0–2.0	1022	$1,756	$1.72	3d	22	0.82mi
1135 Woodland Ave NE Atlanta, GA	2.0	1.0	1100	$1,595	$1.45	24d	1	0.87mi
1135 Woodland Ave NE Unit 6 Atlanta, GA	2.0	1.0	950	$15,950	$16.79	24d	1	0.87mi

HOA detail condo

• Monthly dues: $259 · $3,108/yr
• Likely covers: landscapingpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-04
   status $165,000 Pending 10 DOM
2. 2026-06-03
   days on market $165,000 Active 10 DOM
3. 2026-06-02
   days on market $165,000 Active 9 DOM
4. 2026-06-01
   days on market $165,000 Active 8 DOM
5. 2026-05-31
   days on market $165,000 Active 7 DOM
6. 2026-05-24
   listed $165,000 Active
7. 2019-06-07
   soldstatus $150,000 Closed 571-char remark

   Show marketing remark (571 chars)

   Fantastic end unit condo minutes to parks, shops, and restaurants plus easy access to interstates! Gated community w/manicured grounds, swimming pool, clubhouse w/outdoor kitchen, pet walks & gym facilities. Features include hardwood floors, eat-in kit w/SS appliances and granite counters. Fresh paint thru-out and sep laundry room. Living Rm opens to the bonus office/den with sliding doors that open to double as a porch. Large bedroom with his/hers closets! Great location between Midtown and Buckhead and great community with low HOA fees and tons of amenities!

8. 2019-06-07
   soldstatus $150,000 Sold 571-char remark

   Show marketing remark (571 chars)

   Fantastic end unit condo minutes to parks, shops, and restaurants plus easy access to interstates! Gated community w/manicured grounds, swimming pool, clubhouse w/outdoor kitchen, pet walks & gym facilities. Features include hardwood floors, eat-in kit w/SS appliances and granite counters. Fresh paint thru-out and sep laundry room. Living Rm opens to the bonus office/den with sliding doors that open to double as a porch. Large bedroom with his/hers closets! Great location between Midtown and Buckhead and great community with low HOA fees and tons of amenities!

9. 2019-05-01
   status Under Contract 571-char remark

   Show marketing remark (571 chars)

   Fantastic end unit condo minutes to parks, shops, and restaurants plus easy access to interstates! Gated community w/manicured grounds, swimming pool, clubhouse w/outdoor kitchen, pet walks & gym facilities. Features include hardwood floors, eat-in kit w/SS appliances and granite counters. Fresh paint thru-out and sep laundry room. Living Rm opens to the bonus office/den with sliding doors that open to double as a porch. Large bedroom with his/hers closets! Great location between Midtown and Buckhead and great community with low HOA fees and tons of amenities!

10. 2019-05-01
    status Pending 571-char remark

    Show marketing remark (571 chars)

    Fantastic end unit condo minutes to parks, shops, and restaurants plus easy access to interstates! Gated community w/manicured grounds, swimming pool, clubhouse w/outdoor kitchen, pet walks & gym facilities. Features include hardwood floors, eat-in kit w/SS appliances and granite counters. Fresh paint thru-out and sep laundry room. Living Rm opens to the bonus office/den with sliding doors that open to double as a porch. Large bedroom with his/hers closets! Great location between Midtown and Buckhead and great community with low HOA fees and tons of amenities!

11. 2019-04-24
    listed $148,000 Active 571-char remark

    Show marketing remark (571 chars)

    Fantastic end unit condo minutes to parks, shops, and restaurants plus easy access to interstates! Gated community w/manicured grounds, swimming pool, clubhouse w/outdoor kitchen, pet walks & gym facilities. Features include hardwood floors, eat-in kit w/SS appliances and granite counters. Fresh paint thru-out and sep laundry room. Living Rm opens to the bonus office/den with sliding doors that open to double as a porch. Large bedroom with his/hers closets! Great location between Midtown and Buckhead and great community with low HOA fees and tons of amenities!

12. 2019-04-24
    listed $148,000 New 571-char remark

    Show marketing remark (571 chars)

    Fantastic end unit condo minutes to parks, shops, and restaurants plus easy access to interstates! Gated community w/manicured grounds, swimming pool, clubhouse w/outdoor kitchen, pet walks & gym facilities. Features include hardwood floors, eat-in kit w/SS appliances and granite counters. Fresh paint thru-out and sep laundry room. Living Rm opens to the bonus office/den with sliding doors that open to double as a porch. Large bedroom with his/hers closets! Great location between Midtown and Buckhead and great community with low HOA fees and tons of amenities!

13. 2017-01-26
    soldstatus $122,770 Sold
14. 2016-12-28
    historical Contingent - Due Diligence
15. 2016-12-19
    listed $119,900 Active

ⓘ 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: $20,223
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,618
• − Management: −$1,618
• − HOA: −$3,108
• − Depreciation: −$4,800
• Taxable loss: −$3,463
• Est. tax savings @ 24.0%: +$831
• After-tax cash flow: $16/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): 29,073
• Household income: $92,122
• Rent vs Own: 61.7% rent · 38.3% own
• Severe rent burden: 2749.0

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 0.66)
• Race & ethnicity: White 51% Black 24% Asian 12% Two or more races 9% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Italian 2% Serbian 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 80% English-only · Spanish 5% Other Indo-European 4% Other Asian/Pacific 3%

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: ▼ -476.16%
• Current HPI: 187.7587
• Rent YoY: ▬ 0.04%
• 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

+37.6% since first listed

10 events — show timeline

• 2026-05-24 Listed $165,000 FMLS
• 2019-06-07 Sold (MLS) $150,000 GAMLS
• 2019-06-07 Sold (MLS) $150,000 FMLS
• 2019-05-01 Pending — GAMLS
• 2019-05-01 Pending — FMLS
• 2019-04-24 Listed $148,000 GAMLS
• 2019-04-24 Listed $148,000 FMLS
• 2017-01-26 Sold (MLS) $122,770 FMLS
• 2016-12-28 Contingent — FMLS
• 2016-12-19 Listed $119,900 FMLS