338 Ard Pl NW · Atlanta, GA 30331

$199,999

2 bd · 1.0 ba · 1,050 sqft · SingleFamily public records · 29 Days on market

Built 1961 Est $155k · 29% over

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Why this score? — see what drove the F 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 +13.6/30.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• 1% rule +3.3/10.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This Atlanta property is currently tenant-occupied, generating immediate income from Day 1, boasts ONE of the biggest lots in the neighborhood, and offers an incredible ADU (Accessory Dwelling Unit) conversion also can be converted to 3/2 or 4/2 to skyrocket your future valuation and rental ROI! ?? Tucked away in a quiet, friendly neighborhood with NO HOA, this solid brick ranch perfectly balances a premium, turn-key interior with an unmatched structural upside. Whether you want to buy and hold for steady cash flow or force massive equity through simple layout upgrades, this deal is a pure value play. THE PROPERTY HIGHLIGHTS: & acirc; & euro; & cent; Easy 3/2, 4/2, or ADU Conv

Key facts

• No hoa
• Solid brick ranch
• Built-in income

Tags

• INCREDIBLE ADU CONVERSION
• NO HOA
• SOLID BRICK RANCH
• PRIVATE BACKYARD PATIO
• BUILT-IN INCOME
• NEW MAJOR MECHANICALS

Property features AI

Exterior

• Home design: Built in 1961
• Construction: Living area approximately 1050
• Exterior features: Located in the Adamsville subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $10 ($124/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (17.4% below list).
• Recommended offer: $165k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 (+2.6%/yr); 483 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/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 $6k 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

• It's been on market 29 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 8 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 $42k; list at $200k implies a 376% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,109 (17.4% below list)

Questions for the listing agent

1. Built in 1961 — 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. 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?
4. 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.
5. 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.
6. 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: 0.83% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $155,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
362 Ard Pl NW	0.02mi	3/1.0 (+1)	1,050 (0%)	1mo	$150,000	$143	93
394 Argus Cir	0.05mi	3/1.0 (+1)	1,050 (0%)	3mo	$120,000	$114	90
317 Ard Pl NW	0.05mi	3/1.0 (+1)	1,050 (0%)	8mo	$155,000	$148	86
299 Ard Pl NW	0.09mi	3/1.0 (+1)	1,025 (-2%)	8mo	$135,000	$132	80
309 Hemphill School Rd NW	0.10mi	3/2.0 (+1)	1,144 (+9%)	4mo	$219,900	$192	68
211 Hemphill School Rd	0.26mi	3/1.0 (+1)	1,107 (+5%)	11mo	$180,000	$163	65
679 Bolton Rd NW	0.62mi	3/1.0 (+1)	1,000 (-5%)	5mo	$123,000	$123	54
3519 Adkins Rd NW	0.57mi	3/1.0 (+1)	1,000 (-5%)	8mo	$170,000	$170	54
3365 Delmar Ln NW	0.59mi	3/2.0 (+1)	1,000 (-5%)	8mo	$73,000	$73	49
3650 Adkins Rd NW	0.63mi	3/2.0 (+1)	1,025 (-2%)	12mo	$265,000	$259	48
664 Bolton Rd NW	0.62mi	3/1.0 (+1)	1,188 (+13%)	4mo	$165,000	$139	40
737 Bolton Rd NW	0.69mi	3/2.0 (+1)	1,144 (+9%)	11mo	$249,900	$218	35

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-32,391
• Equity at exit: $29,821

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-29,970
• Equity at exit: $17,292

Cash invested: $56,000 (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 30331

• Home prices YoY: -34.2%
• Rents YoY: 2.6%
• Active inventory: 483
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,651 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$162 /mo · $1,942/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $10

Break-even live

Break-even rent $1,638

Max offer price $199,999

Occupancy floor 94%

Sensitivity live

Price	-10% $124	-5% $67	+0% $10	+5% $-46	+10% $-103
Rent	-10% $-120	-5% $-55	+0% $10	+5% $76	+10% $141
Rate	-1.0pp $111	-0.5pp $61	base $10	+0.5pp $-41	+1.0pp $-94

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3466 Fairlane Dr NW Atlanta, GA	3.0	1.0	950	$1,495	$1.57	25d	1	0.18mi
3669 Martin Luther King Jr Dr SW Atlanta, GA	2.0	1.5	800	$1,300	$1.62	6d	2	0.27mi
3456 Thompson Dr NW Atlanta, GA	3.0	1.0	975	$1,750	$1.79	25d	1	0.28mi
451 Fairlock Ln NW Atlanta, GA	3.0	1.0	1141	$1,450	$1.27	25d	1	0.32mi
470 Bolton Rd NW Unit D1 Atlanta, GA	2.0	1.5	1100	$1,395	$1.27	25d	1	0.41mi
3537 Fairburn Pl NW Atlanta, GA	2.0	1.0	1484	$2,000	$1.35	25d	1	0.49mi
3354 Delmar Ln NW Atlanta, GA	3.0	2.0	1170	$1,700	$1.45	25d	1	0.67mi
3774 Clovis Ct NW Atlanta, GA	3.0	1.0	1000	$1,445	$1.45	22d	1	0.76mi
3566 Bolfair Dr NW Atlanta, GA	3.0	2.0	1192	$1,595	$1.34	14d	1	0.84mi
3610 Bolfair Dr NW Atlanta, GA	3.0	1.5	1178	$1,900	$1.61	25d	1	0.85mi
586 Oakside Dr SW Unit B Atlanta, GA	2.0	1.0	1075	$1,065	$0.99	15d	1	0.86mi
586 Oakside Dr SW Unit A Atlanta, GA	3.0	1.0	1075	$1,325	$1.23	15d	1	0.86mi
3188 Delmar Ln NW Atlanta, GA	3.0	2.0	1124	$2,400	$2.14	25d	1	0.91mi
842 Bonneville Ter NW Atlanta, GA	2.0	2.0	1100	$1,855	$1.69	25d	1	0.96mi
942 Fairburn Rd NW Atlanta, GA	3.0	2.0	900	$1,623	$1.80	22d	1	1.00mi
875 Fairburn Rd NW Atlanta, GA	3.0	1.0	850	$1,375	$1.62	17d	1	1.02mi
3440 Boulder Park Dr SW Atlanta, GA	2.0	1.0	800	$1,050	$1.31	11d	3	1.09mi
110 Candlelight Ln SW Atlanta, GA	1.0	1.0	1300	$634	$0.49	17d	1	1.11mi
3915 Basil Way SW Atlanta, GA	3.0	2.0	1287	$2,600	$2.02	25d	1	1.20mi
294 Brownlee Rd SW Atlanta, GA	2.0	1.5	950	$1,050	$1.11	17d	2	1.20mi
40 Candlelight Ln SW Unit A Atlanta, GA	2.0	2.0	1098	$1,500	$1.37	25d	1	1.25mi
40 Candlelight Ln SW Apt B Atlanta, GA	3.0	3.0	1274	$1,800	$1.41	25d	1	1.26mi
832 Ambient Way SW Atlanta, GA	2.0	2.5	1500	$2,250	$1.50	25d	1	1.27mi
3230 Cushman Cir SW Atlanta, GA	2.0	1.0	1143	$1,200	$1.05	8d	1	1.27mi
841 Ambient Way SW Atlanta, GA	2.0	2.5	1344	$1,895	$1.41	17d	1	1.28mi
3136 Martin Luther King Jr Dr SW Atlanta, GA	1.0–2.0	1.0–1.5	800	$1,250	$1.56	20d	5	1.30mi
2875 Hedgewood Dr NW Atlanta, GA	3.0	2.0	1100	$1,700	$1.55	17d	1	1.30mi
1040 Summerfield Way Atlanta, GA	3.0	2.5	1378	$2,150	$1.56	25d	1	1.32mi
1021 Harwell Rd NW Atlanta, GA	1.0–2.0	1.0–1.5	1002	$1,534	$1.53	8d	15	1.32mi
1015 Hayden St Atlanta, GA	3.0	2.5	1339	$2,550	$1.90	5d	1	1.33mi
887 Ambient Way SW Atlanta, GA	2.0	2.5	1344	$2,250	$1.67	25d	1	1.33mi
897 Ambient Way SW Atlanta, GA	2.0	2.5	1500	$2,155	$1.44	25d	1	1.34mi
722 Crestwell Cir #722 Atlanta, GA	2.0	3.0	1440	$2,279	$1.58	21d	1	1.37mi
708 Crestwell Cir SW Atlanta, GA	2.0	2.5	1236	$1,645	$1.33	25d	1	1.38mi
1070 Bolton Rd NW Atlanta, GA	1.0–3.0	1.0–3.0	1094	$1,694	$1.55	2d	12	1.42mi
1071 Bolton Rd NW Atlanta, GA	3.0	2.0–2.5	1358	$2,388	$1.76	6d	2	1.46mi
2762 Oldknow Dr NW Atlanta, GA	2.0	1.0	880	$1,600	$1.82	25d	1	1.50mi

Listing history 36 events

1. 2026-06-18
   days on market $199,999 Active 29 DOM
2. 2026-06-17
   days on market $199,999 Active 28 DOM
3. 2026-06-16
   days on market $199,999 Active 27 DOM
4. 2026-06-15
   days on market $199,999 Active 26 DOM
5. 2026-06-13
   days on market $199,999 Active 24 DOM
6. 2026-06-13
   days on market $199,999 Active 23 DOM
7. 2026-06-09
   days on market $199,999 Active 20 DOM
8. 2026-06-08
   days on market $199,999 Active 19 DOM
9. 2026-06-07
   days on market $199,999 Active 18 DOM
10. 2026-06-04
    days on market $199,999 Active 15 DOM
11. 2026-06-03
    days on market $199,999 Active 14 DOM
12. 2026-06-02
    days on market $199,999 Active 13 DOM
13. 2026-06-01
    days on market $199,999 Active 12 DOM
14. 2026-05-31
    days on market $199,999 Active 11 DOM
15. 2026-05-20
    listed $199,999 Active
16. 2026-01-25
    historical $1,695
17. 2025-11-26
    listed $1,695
18. 2025-11-25
    historical $1,700
19. 2025-11-25
    historical
20. 2025-11-22
    price $200,000
21. 2025-11-20
    price $1,700
22. 2025-11-19
    price $195,000
23. 2025-11-06
    listed
24. 2025-09-28
    listed $205,000 New
25. 2025-09-25
    historical
26. 2025-09-25
    historical
27. 2025-09-10
    price $205,000
28. 2025-09-10
    price $205,000
29. 2025-09-01
    listed $210,000 New
30. 2025-09-01
    listed $210,000 Active
31. 2025-08-28
    historical
32. 2025-08-25
    price $206,000
33. 2025-08-25
    listed $209,000 New
34. 2025-08-22
    historical
35. 2025-08-21
    listed $206,000 New
36. 2018-07-20
    soldstatus $42,000

ⓘ 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: $1,942 · $162/mo
• Projected year-2 tax: $1,942 · $162/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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% 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: $19,813
• − Mortgage interest: −$11,203
• − Property taxes: −$1,942
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − Depreciation: −$5,818
• Taxable loss: −$3,321
• Est. tax savings @ 24.0%: +$797
• After-tax cash flow: $921/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): 62,567
• Household income: $62,623
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 3748.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Hispanic 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -106.38%
• Current HPI: 204.5402
• Rent YoY: ▲ 2.63%
• 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

+376.2% since first listed

22 events — show timeline

• 2026-05-20 Listed $199,999 FSBO.com
• 2026-01-25 Rental Removed $1,695 RENTSPREE
• 2025-11-26 Listed for Rent $1,695 RENTSPREE
• 2025-11-25 Rental Removed $1,700 GAMLS
• 2025-11-25 Listing Removed — GAMLS
• 2025-11-22 Price Changed $200,000 GAMLS
• 2025-11-20 Price Changed $1,700 GAMLS
• 2025-11-19 Price Changed $195,000 GAMLS
• 2025-11-06 Listed for Rent — GAMLS
• 2025-09-28 Listed $205,000 GAMLS
• 2025-09-25 Listing Removed — FMLS
• 2025-09-25 Listing Removed — GAMLS
• 2025-09-10 Price Changed $205,000 GAMLS
• 2025-09-10 Price Changed $205,000 FMLS
• 2025-09-01 Listed $210,000 FMLS
• 2025-09-01 Listed $210,000 GAMLS
• 2025-08-28 Listing Removed — GAMLS
• 2025-08-25 Price Changed $206,000 GAMLS
• 2025-08-25 Listed $209,000 GAMLS
• 2025-08-22 Listing Removed — GAMLS
• 2025-08-21 Listed $206,000 GAMLS
• 2018-07-20 Sold (Public Records) $42,000 Public Records

Property tax history

+29.5%/yr

Latest (2025): $1,942 · -17.0% YoY. Source: county tax records.