1438 Wichita Dr SW · Atlanta, GA 30311

$190,000

3 bd · 1.0 ba · 1,188 sqft · SingleFamily public records · 230 Days on market

Built 1950 8,555 sqft lot $160/sqft · 31% below area Est $275k · 31% under ↓ 5% since listing

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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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.6/10.0
• Livability +4.2/5.0
• 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

Home is being sold " AS IS " This home is a beautiful home, the bathroom has been redone and the roof is less than 5 years old.

Key facts

• Remodeled bathroom
• Corner lot
• New roof

Tags

• CORNER LOT
• REMODELED BATHROOM
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 soft (-0.2%/yr); 245 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $2,023/mo this rent would consume 48% of the median local household income ($51k/yr) (locally 2825% 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

• It's been on market 230 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 230 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.44%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $275,141
• List price: $190,000
• Delta: -30.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1753 Beechwood Blvd SW	0.27mi	3/1.5	1,116 (-6%)	3mo	$147,000	$132	73
1228 Elizabeth Ave SW	0.54mi	3/1.0	1,176 (-1%)	2mo	$184,500	$157	71
1439 Aniwaka Ave SW	0.03mi	3/2.0	1,360 (+14%)	4mo	$275,000	$202	67
1356 Campbellton Rd SW	0.55mi	2/1.0 (-1)	1,200 (+1%)	5mo	$70,000	$58	64
1449 Lynford Dr SW	0.64mi	3/1.0	1,242 (+4%)	2mo	$238,000	$192	61
1675 Avon Ave SW	0.46mi	4/3.0 (+1)	1,156 (-3%)	3mo	$353,000	$305	59
1762 Hadlock St SW	0.65mi	3/1.5	1,140 (-4%)	4mo	$140,000	$123	58
1283 Wichita Dr SW	0.31mi	3/2.5	1,344 (+13%)	1mo	$330,000	$246	57
1454 Westridge Rd SW	0.27mi	4/2.0 (+1)	1,343 (+13%)	4mo	$189,900	$141	54
1169 Eastridge Rd SW	0.53mi	3/2.0	1,316 (+11%)	2mo	$168,000	$128	52
1328 Lorenzo Dr SW	0.58mi	3/2.0	1,070 (-10%)	4mo	$155,000	$145	49
1255 Campbellton Rd SW	0.73mi	3/2.0	1,305 (+10%)	4mo	$295,000	$226	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.65×
• Total profit: $-18,504
• Equity at exit: $28,330

10-year hold

• IRR: -5.2%
• Equity multiple: 0.71×
• Total profit: $-15,492
• Equity at exit: $16,428

Cash invested: $53,200 (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 30311

• Home prices YoY: -33.3%
• Rents YoY: -0.2%
• Active inventory: 245
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,023 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $286

Break-even live

Break-even rent $1,662

Max offer price $190,000

Occupancy floor 81%

Sensitivity live

Price	-10% $417	-5% $351	+0% $286	+5% $220	+10% $154
Rent	-10% $126	-5% $206	+0% $286	+5% $365	+10% $445
Rate	-1.0pp $381	-0.5pp $334	base $286	+0.5pp $236	+1.0pp $186

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1408 Lockwood Dr SW Atlanta, GA	3.0	2.0	1300	$1,950	$1.50	25d	1	0.20mi
1404 Lockwood Dr SW Atlanta, GA	2.0	2.0	980	$1,700	$1.73	8d	1	0.21mi
1346 Wichita Dr SW Atlanta, GA	3.0	2.0	1183	$2,125	$1.80	8d	1	0.21mi
1300 Wichita Dr SW Atlanta, GA	3.0	2.0	1077	$2,200	$2.04	25d	1	0.28mi
1295 Westmont Rd SW Atlanta, GA	2.0	1.0	910	$1,500	$1.65	25d	1	0.36mi
1443 Venetian Dr SW Atlanta, GA	3.0	1.0	1139	$1,395	$1.22	25d	1	0.37mi
1848 Cummings Dr SW Atlanta, GA	4.0	1.0	1216	$1,795	$1.48	25d	1	0.37mi
1255 Westmont Rd SW Atlanta, GA	3.0	2.0	1500	$1,695	$1.13	25d	1	0.41mi
1246 Westmont Rd SW Atlanta, GA	3.0	1.0	1200	$1,500	$1.25	3d	1	0.45mi
1876 Sandtown Rd SW Atlanta, GA	3.0	2.0	1230	$2,500	$2.03	25d	1	0.45mi
1280 Elizabeth Ave SW Atlanta, GA	3.0	1.0	1105	$1,950	$1.76	25d	1	0.47mi
1681 Hadlock St SW Atlanta, GA	3.0	2.0	1170	$1,875	$1.60	6d	1	0.50mi
1427 Lorenzo Dr SW Atlanta, GA	3.0	2.0	1128	$1,995	$1.77	25d	1	0.52mi
1310 Kenilworth Dr SW Atlanta, GA	3.0	2.0	1192	$2,000	$1.68	25d	1	0.52mi
1537 Orlando St SW Atlanta, GA	2.0	1.0	1068	$1,700	$1.59	25d	1	0.55mi
1280 Kenilworth Dr SW Atlanta, GA	3.0	2.0	1000	$1,800	$1.80	25d	1	0.55mi
1262 Kenilworth Dr SW Atlanta, GA	4.0	2.0	1400	$2,400	$1.71	25d	1	0.56mi
1307 Lorenzo Dr SW Unit A Atlanta, GA	3.0	2.0	1300	$1,795	$1.38	25d	1	0.58mi
1346 Lorenzo Dr SW Atlanta, GA	3.0	2.0	1486	$5,000	$3.36	25d	1	0.58mi
1291 Lorenzo Dr SW Unit 1 Atlanta, GA	3.0	1.0	1100	$1,825	$1.66	15d	1	0.59mi
1361 Byrere Ter SW Unit 2 Atlanta, GA	2.0	1.0	836	$1,299	$1.55	25d	1	0.62mi
1873 Campbellton Rd SW Unit A11 Atlanta, GA	4.0	2.0	1464	$1,855	$1.27	25d	1	0.63mi
1262 Lorenzo Dr SW Atlanta, GA	4.0	2.0	1292	$2,100	$1.63	25d	1	0.64mi
1449 Lynford Dr SW Atlanta, GA	3.0	1.0	1242	$1,895	$1.53	25d	1	0.65mi
1449 Lynford Dr SW Atlanta, GA	3.0	1.0	1242	$1,895	$1.53	19d	1	0.65mi
1250 Byewood Ln SW Atlanta, GA	2.0	2.0	1100	$2,150	$1.95	25d	1	0.72mi
1080 Westmont Rd SW Atlanta, GA	3.0	2.0	1022	$2,500	$2.45	15d	1	0.72mi
1255 Campbellton Rd SW Atlanta, GA	3.0	2.0	1305	$2,095	$1.61	25d	1	0.74mi
1006 Bayrose Cir Atlanta, GA	2.0	2.5	1326	$2,650	$2.00	18d	1	0.74mi
1226 Byewood Ln SW Unit B Atlanta, GA	2.0	2.0	831	$1,950	$2.35	25d	1	0.74mi
1402 Bayrose Cir East Point, GA	2.0	2.5	1404	$1,595	$1.14	25d	1	0.76mi
1389 Lanvale Dr SW Atlanta, GA	3.0	2.0	1430	$2,500	$1.75	8d	1	0.76mi
1804 Idlewood Dr Unit 1 Atlanta, GA	2.0	1.0	923	$1,025	$1.11	18d	1	0.79mi
1550 Mayflower Ave SW Atlanta, GA	4.0	2.5	1396	$6,500	$4.66	20d	1	0.81mi
2042 Bayrose Cir Unit 42B Atlanta, GA	3.0	2.5	1370	$1,875	$1.37	4d	1	0.81mi
2148 Bayrose Cir East Point, GA	3.0	2.5	1370	$1,800	$1.31	6d	1	0.82mi
1900 Stanton Rd East Point, GA	2.0–3.0	1.0	890	$1,500	$1.69	16d	11	0.88mi
2079 Honeysuckle Ln SW Atlanta, GA	3.0	2.0	1500	$1,900	$1.27	25d	1	0.89mi
966 Gaston St SW Atlanta, GA	3.0	2.5	1331	$2,250	$1.69	25d	1	0.95mi
1932 Stanton Rd East Point, GA	1.0–3.0	1.0–2.0	1045	$1,599	$1.53	44d	1	0.96mi

Listing history 23 events

1. 2026-06-18
   days on market $190,000 Active 230 DOM
2. 2026-06-17
   days on market $190,000 Active 229 DOM
3. 2026-06-16
   days on market $190,000 Active 228 DOM
4. 2026-06-15
   days on market $190,000 Active 227 DOM
5. 2026-06-13
   days on market $190,000 Active 225 DOM
6. 2026-06-13
   days on market $190,000 Active 224 DOM
7. 2026-06-09
   days on market $190,000 Active 221 DOM
8. 2026-06-08
   days on market $190,000 Active 220 DOM
9. 2026-06-07
   days on market $190,000 Active 219 DOM
10. 2026-06-04
    days on market $190,000 Active 216 DOM
11. 2026-06-03
    days on market $190,000 Active 215 DOM
12. 2026-06-02
    days on market $190,000 Active 214 DOM
13. 2026-06-01
    days on market $190,000 Active 213 DOM
14. 2026-05-31
    days on market $190,000 Active 212 DOM
15. 2026-05-07
    status Under Contract 137-char remark

    Show marketing remark (137 chars)

    Home is being sold " AS IS " This home is a beautiful home, the bathroom has been redone and the roof is less than 5 years old.

16. 2026-04-01
    status Active 177-char remark

    Show marketing remark (137 chars)

    Home is being sold " AS IS " This home is a beautiful home, the bathroom has been redone and the roof is less than 5 years old.

17. 2026-04-01
    status Back On Market 137-char remark

    Show marketing remark (137 chars)

    Home is being sold " AS IS " This home is a beautiful home, the bathroom has been redone and the roof is less than 5 years old.

18. 2026-03-31
    historical 137-char remark

    Show marketing remark (177 chars)

    Home is being sold AS IS. This is a beautiful home on a corner lot. The bathroom has been remolded within the last 5 years. There is a new roof that is less than 5 years old.

19. 2026-03-31
    historical 177-char remark

    Show marketing remark (177 chars)

    Home is being sold AS IS. This is a beautiful home on a corner lot. The bathroom has been remolded within the last 5 years. There is a new roof that is less than 5 years old.

20. 2025-12-09
    price $190,000 177-char remark

    Show marketing remark (137 chars)

    Home is being sold " AS IS " This home is a beautiful home, the bathroom has been redone and the roof is less than 5 years old.

21. 2025-12-09
    price $190,000 137-char remark

    Show marketing remark (137 chars)

    Home is being sold " AS IS " This home is a beautiful home, the bathroom has been redone and the roof is less than 5 years old.

22. 2025-10-20
    listed $200,000 Active 177-char remark

    Show marketing remark (177 chars)

    Home is being sold AS IS. This is a beautiful home on a corner lot. The bathroom has been remolded within the last 5 years. There is a new roof that is less than 5 years old.

23. 2025-09-17
    listed $200,000 New 137-char remark

    Show marketing remark (137 chars)

    Home is being sold " AS IS " This home is a beautiful home, the bathroom has been redone and the roof is less than 5 years old.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 6 d/yr ≥104°F today · 15 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: $24,282
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$1,943
• − Management: −$1,943
• − Depreciation: −$5,527
• Taxable income: $426
• Est. tax owed @ 24.0%: −$102
• After-tax cash flow: $3,324/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): 34,953
• Household income: $50,649
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 2825.0

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 (89%)
• Race & ethnicity: Black 89% Hispanic / Latino 4% Two or more races 4% White 3%
• Common ancestry: Hispanic 1%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 3% French/Haitian/Cajun 1% Korean 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: ▼ -129.99%
• Current HPI: 259.954
• Rent YoY: ▼ -0.19%
• 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

-5.0% since first listed

9 events — show timeline

• 2026-05-07 Pending — GAMLS
• 2026-04-01 Relisted — FMLS
• 2026-04-01 Relisted — GAMLS
• 2026-03-31 Listing Removed — FMLS
• 2026-03-31 Listing Removed — GAMLS
• 2025-12-09 Price Changed $190,000 FMLS
• 2025-12-09 Price Changed $190,000 GAMLS
• 2025-10-20 Listed $200,000 FMLS
• 2025-09-17 Listed $200,000 GAMLS

Property tax history

-2.8%/yr

Latest (2025): $277 · -92.4% YoY. Source: county tax records.