3338 Peachtree Rd NE #705

Atlanta, GA 30326

$234,900D

1 bd · 1.0 ba · 800 sqft · Built 2004 · Condo · Active · 128 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,056/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$435
• HOA: −$469
• Vac / Maint / Mgmt: −$432
• Net cashflow: $-511/mo
• Annual: $-6,135/yr
• Cap rate: 3.68%
• Cash-on-cash: -9.33%
• DSCR: 0.58
• 1% rule: 0.88%
• Cash to close: $65,772

Investor read

• This is a 1-bed/1.0-bath condo listed at $235k.
• At list price, monthly cash flow is $-511 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (38.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (12.5% below list).
• It's been on market 128 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (38.4% below list) — sets the bar for cash-flow.
• In year one you build about $825 of equity ($2k loan paydown + $-799 appreciation (-0.3% local appreciation)).
• 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.
• Watch-outs: HOA is 23% of rent.
• Market conditions: Rents rising fast (+4.6%/yr); 146 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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.
• 9 sale attempts since 15y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• 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?
• It's been on market 128 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.