1838 Rogers Ave SW · Atlanta, GA 30310

$185,000

2 bd · 2.0 ba · 1,792 sqft · MultiFamily public records · 3 Days on market

Built 1950 9,487 sqft lot $103/sqft · 51% below area

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Why this score? — see what drove the C+ 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 +26.2/30.0
• DSCR +8.8/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Calling all investors and builders! This is the perfect opportunity to fully renovate this home in the very popular Westview Neighborhood. This home features 2 beds and one bath on the main with a separate living and dining room. The upstairs has 2 beds and one bath can convert to an amazing master suite also there's a large 2 car garage made from block. There is a lot of renovations and new homes being built in the neighborhood. Walk to The Atlanta Beltline & Parks.

Key facts

• Large 2 car garage
• Walk to parks
• 9,487 sq ft lot

Tags

• LARGE 2 CAR GARAGE
• WALK TO THE ATLANTA BELTLINE
• WALK TO PARKS

Property features AI

Exterior

• Parking: Driveway parking; Open parking available
• Utilities: Public water; Public sewer; 220-volt electric service; Electricity available
• Home design: Two levels; Resale property
• Construction: Composition roof; Block foundation; Construction materials: other
• Exterior features: Chain link fencing; Storage structure on property

Interior

• Kitchen: Kitchen features: other; Dining room features: other; Appliances: other
• Bedrooms: Two main-level bedrooms; Two upper-level bedrooms; Bedroom features: none specified
• Flooring: Hardwood flooring
• Bathrooms: Two full bathrooms; One main-level bathroom; One upper-level full bathroom; Master bathroom: none specified
• Heating & cooling: Heating: other; Cooling: other
• Interior features: No shared/common walls; Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 9.3% 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: Beecher Hills Elementary School (241 students, 100% FRL); Jean Childs Young Middle School (math 2% / reading 12%, grade F, #449 of 470 statewide, top 97%, 747 students, 100% FRL); Benjamin E. Mays High School (math 22% / reading 15%, grade F, #254 of 424 statewide, top 61%, 1,337 students, 100% FRL) — zoned schools average 100% FRL vs 71% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 13% at this address vs 32% district-wide (-19 pts) — the specific schools serving this property underperform the Atlanta Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.8%/yr); 452 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $2,381/mo this rent would consume 54% of the median local household income ($53k/yr) (locally 1676% 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 $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

• Only 3 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,000

Questions for the listing agent

1. Built in 1950 — 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. 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.
4. 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.
5. 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: 1.29% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.89%
• DSCR: 1.48
• GRM: 6.5

CMA / ARV

• ARV (median comp): $375,385
• List price: $185,000
• Delta: -50.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.77% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-476
• Equity at exit: $27,584

10-year hold

• IRR: 9.2%
• Equity multiple: 1.70×
• Total profit: $36,361
• Equity at exit: $15,995

Cash invested: $51,800 (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 30310

• Home prices YoY: -32.8%
• Rents YoY: 2.8%
• Active inventory: 452
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,381 high
• Mortgage (P&I): −$970
• Tax from tax record: −$364 /mo · $4,369/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $470

Break-even live

Break-even rent $1,786

Max offer price $185,000

Occupancy floor 75%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1951 Handley Ave SW Atlanta, GA	3.0	3.0	1589	$3,200	$2.01	24d	1	0.23mi
1735 Alvarado Ter SW Atlanta, GA	3.0	2.0	1235	$1,595	$1.29	22d	1	0.26mi
1619 Stokes Ave SW Atlanta, GA	3.0	2.0	1332	$2,400	$1.80	2d	1	0.50mi
1578 Linda Way SW Atlanta, GA	3.0	2.0	1343	$2,030	$1.51	13d	1	0.54mi
505 W Ontario Ave SW Atlanta, GA	3.0	2.0	1587	$2,800	$1.76	20d	1	0.54mi
1501 Rogers Ave SW Atlanta, GA	3.0	1.0	1980	$2,500	$1.26	24d	1	0.65mi
1515 Westwood Ave SW Atlanta, GA	3.0	2.5	2278	$6,000	$2.63	22d	1	0.65mi
995 Fleetwood Cir SW Atlanta, GA	3.0	2.0	1611	$2,400	$1.49	24d	1	0.68mi
702 Cascade Ave SW Atlanta, GA	3.0	4.0	2220	$2,850	$1.28	24d	1	0.70mi
1473 Beecher St SW Atlanta, GA	3.0	2.0	1547	$2,600	$1.68	24d	1	0.74mi
1474 Beecher St SW Atlanta, GA	3.0	2.0	1332	$3,200	$2.40	24d	1	0.75mi
1425 Oglethorpe Ave SW Atlanta, GA	3.0	2.0	1540	$2,950	$1.92	5d	1	0.79mi
1420 Ralph David Abernathy Blvd SW Atlanta, GA	3.0	2.0	1306	$2,400	$1.84	24d	1	0.80mi
1586 Ocala Ave SW Atlanta, GA	1.0	1.0	1400	$600	$0.43	24d	1	0.82mi
2225 Beecher Cir SW Atlanta, GA	1.0	1.5	1826	$865	$0.47	7d	1	0.82mi
1448 Westboro Dr SW Atlanta, GA	3.0	2.0	1437	$2,300	$1.60	7d	1	0.83mi
316 Henry Aaron Ave SW Atlanta, GA	3.0	2.0	1740	$1,580	$0.91	24d	1	0.87mi
1435 Richland Rd SW Atlanta, GA	3.0	2.0	1637	$2,875	$1.76	14d	1	0.87mi
966 Gaston St SW Atlanta, GA	3.0	2.5	1331	$2,250	$1.69	24d	1	0.88mi
2190 Highview Rd SW Atlanta, GA	3.0	2.5	1305	$2,500	$1.92	1d	1	0.93mi
2111 Martin Luther King Junior Dr NW Atlanta, GA	3.0	1.0	1470	$1,800	$1.22	24d	1	1.00mi
176 Racine St SW Atlanta, GA	3.0	2.0	1423	$2,800	$1.97	24d	1	1.01mi
198 Wellington St SW Atlanta, GA	3.0	2.5	1787	$2,700	$1.51	24d	1	1.06mi
415 Hopkins St SW Atlanta, GA	3.0	1.0	2550	$2,000	$0.78	5d	1	1.09mi
1288 Lucile Ave SW Unit B Atlanta, GA	1.0	1.0	1440	$1,500	$1.04	24d	1	1.10mi
1435 Lanvale Dr SW Atlanta, GA	3.0	1.0	1547	$1,800	$1.16	7d	1	1.14mi
1449 Lynford Dr SW Atlanta, GA	3.0	1.0	1242	$1,895	$1.53	18d	1	1.17mi
1449 Lynford Dr SW Atlanta, GA	3.0	1.0	1242	$1,895	$1.53	24d	1	1.17mi
1316 Plaza Ave SW Atlanta, GA	3.0	2.0	1692	$1,825	$1.08	7d	1	1.18mi
0 W Lake Ave NW Atlanta, GA	3.0	2.5	1300	$1,900	$1.46	1d	1	1.20mi
1389 Lanvale Dr SW Atlanta, GA	3.0	2.0	1430	$2,500	$1.75	7d	1	1.21mi
1313 Aniwaka Ave SW Atlanta, GA	3.0	2.0	1530	$2,145	$1.40	1d	1	1.26mi
1255 Westmont Rd SW Atlanta, GA	3.0	2.0	1500	$1,695	$1.13	24d	1	1.26mi
1876 Sandtown Rd SW Atlanta, GA	3.0	2.0	1230	$2,500	$2.03	24d	1	1.28mi
1239 Plaza Ave SW Atlanta, GA	1.0	1.0	1900	$1,015	$0.53	24d	1	1.29mi
1380 Mozley Pl SW Atlanta, GA	3.0	2.0	1941	$1,400	$0.72	7d	1	1.29mi
660 Queen St SW Unit A Atlanta, GA	3.0	2.0	1840	$2,500	$1.36	24d	1	1.31mi
660 Queen St SW Unit B Atlanta, GA	3.0	3.0	1840	$3,250	$1.77	24d	1	1.31mi
1158 Donnelly Ave SW Atlanta, GA	1.0	1.0	1980	$725	$0.37	24d	1	1.32mi
1157 Indale Pl SW Atlanta, GA	3.0	2.0	1568	$2,100	$1.34	22d	1	1.45mi

Listing history 4 events

1. 2026-05-16
   status Under Contract 475-char remark

   Show marketing remark (475 chars)

   Calling all investors and builders! This is the perfect opportunity to fully renovate this home in the very popular Westview Neighborhood. This home features 2 beds and one bath on the main with a separate living and dining room. The upstairs has 2 beds and one bath can convert to an amazing master suite also there's a large 2 car garage made from block. There is a lot of renovations and new homes being built in the neighborhood. Walk to The Atlanta Beltline & Parks.

2. 2026-05-16
   status Pending 388-char remark

   Show marketing remark (475 chars)

   Calling all investors and builders! This is the perfect opportunity to fully renovate this home in the very popular Westview Neighborhood. This home features 2 beds and one bath on the main with a separate living and dining room. The upstairs has 2 beds and one bath can convert to an amazing master suite also there's a large 2 car garage made from block. There is a lot of renovations and new homes being built in the neighborhood. Walk to The Atlanta Beltline & Parks.

3. 2026-05-11
   listed $185,000 New 475-char remark

   Show marketing remark (475 chars)

   Calling all investors and builders! This is the perfect opportunity to fully renovate this home in the very popular Westview Neighborhood. This home features 2 beds and one bath on the main with a separate living and dining room. The upstairs has 2 beds and one bath can convert to an amazing master suite also there's a large 2 car garage made from block. There is a lot of renovations and new homes being built in the neighborhood. Walk to The Atlanta Beltline & Parks.

4. 2026-05-11
   listed $185,000 Active 388-char remark

   Show marketing remark (475 chars)

   Calling all investors and builders! This is the perfect opportunity to fully renovate this home in the very popular Westview Neighborhood. This home features 2 beds and one bath on the main with a separate living and dining room. The upstairs has 2 beds and one bath can convert to an amazing master suite also there's a large 2 car garage made from block. There is a lot of renovations and new homes being built in the neighborhood. Walk to The Atlanta Beltline & Parks.

ⓘ 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: $4,369 · $364/mo
• Projected year-2 tax: $4,369 · $364/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 ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,577
• − Mortgage interest: −$10,363
• − Property taxes: −$4,369
• − Insurance: −$925
• − Repairs & maintenance: −$2,286
• − Management: −$2,286
• − Depreciation: −$5,382
• Taxable income: $2,966
• Est. tax owed @ 24.0%: −$712
• After-tax cash flow: $4,928/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): 27,186
• Household income: $53,037
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 1676.0

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 (76%)
• Race & ethnicity: Black 76% White 14% Two or more races 4% Hispanic / Latino 4% Asian 2%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 0%
• Foreign-born: 5% · Canada, South Korea, Vietnam
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -204.00%
• Current HPI: 418.7297
• Rent YoY: ▲ 2.77%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-16 Pending — GAMLS
• 2026-05-16 Pending — FMLS
• 2026-05-11 Listed $185,000 FMLS
• 2026-05-11 Listed $185,000 GAMLS

Property tax history

+15.8%/yr

Latest (2025): $4,369 · -17.7% YoY. Source: county tax records.