795 Hammond Dr #710

Sandy Springs, GA 30328

$135,000C-

1 bd · 1.0 ba · 447 sqft · Built 1990 · Condo · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,762/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$210
• HOA: −$390
• Vac / Maint / Mgmt: −$370
• Net cashflow: $84/mo
• Annual: $1,008/yr
• Cap rate: 7.04%
• Cash-on-cash: 2.67%
• DSCR: 1.12
• 1% rule: 1.31%
• Cash to close: $37,800

Investor read

• This is a 1-bed/1.0-bath condo listed at $135k.
• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads 73/100 on livability (#45 in GA) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A-, commute A-; Watch: amenities F, cost of living F.
• Fulton County (suburban): math 49% / reading 53% proficiency, ranked #12 of 174 in GA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: High Point Elementary School (math 46% / reading 51%, grade D, #284 of 1,228 statewide, top 23%, 675 students, 48% FRL); Ridgeview Charter School (math 33% / reading 45%, grade F, #155 of 470 statewide, top 33%, 996 students, 45% FRL); Riverwood International Charter School (math 24% / reading 10%, grade F, #269 of 424 statewide, top 65%, 1,737 students, 30% FRL) — zoned schools at 41% FRL track the district average.
• Zoned-school proficiency averages 35% at this address vs 51% district-wide (-16 pts) — the specific schools serving this property underperform the Fulton County average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 22% of rent.
• Market conditions: Rents soft (-0.2%/yr); 381 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 14y 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.
• Current owner paid $26k; list at $135k implies a 419% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.0% vs local median 2.6% in Sandy Springs — 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.