2024 Neely Ave · East Point, GA 30344

$200,000

2 bd · 1.5 ba · 1,256 sqft · SingleFamily public records · 19 Days on market

Built 1952 0.30 ac lot $159/sqft · 29% below area Est $281k · 29% under

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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 +16.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unleash your creativity and vision on this solid four-sided brick ranch in the heart of East Point's Conley Hills. This diamond in the rough is a true fixer-upper, perfectly suited for a complete interior renovation to match your personal style or investment goals. While the inside awaits your transformation, the bones are excellent: the roof is less than two years old and the original hardwood floors are ready to be refinished to their former glory. Outside, you'll find a large, level, and cleared backyard offering endless possibilities for outdoor living, gardening, or expansion. Location is everything! You are just minutes away from the vibrant dining and shopping at Camp Creek Marketplace and the charming downtown East Point district. Enjoy easy access to local favorites like the Dick Lane Velodrome and Sumner Park, or take a short drive to the Tyler Perry Studios and Hartsfield-Jackson International Airport. With quick access to I-85, you're never far from the best of Atlanta. Bring your contractor and your imagination-this property is priced to sell and won't last long!

Key facts

• 0.3 acre lot
• Parking
• Built 1952

Property features AI

Finance

• HOA & community: Community street lights

Exterior

• Parking: Carport (1 carport space)
• Utilities: Public water; Public sewer; 220-volt electric service; Cable available; Electricity available; Phone available
• Home design: One-story home; Resale property
• Construction: Brick construction; Composition roof; Block foundation
• Exterior features: Front porch; Other exterior features; Asphalt road frontage on a city street; Street lights in the community

Interior

• Kitchen: Kitchen with other/unspecified features
• Bedrooms: Three main-level bedrooms; No special bedroom features listed
• Flooring: Hardwood flooring
• Bathrooms: One full bathroom; One half bathroom; One full and one half bath located on the main level
• Heating & cooling: Central heating (forced air); Central electric air conditioning
• Interior features: No shared/common walls; Other interior features
• Laundry & utility: Appliances listed as other (details not specified)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/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 $162k (19.2% below list).
• Recommended offer: $162k (19.2% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 5.1% in East Point — 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 72/100 on livability (#72 in GA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, crime F, amenities 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: Paul D. West Middle School (math 17% / reading 17%, grade F, #381 of 470 statewide, top 82%, 803 students, 100% FRL); Tri-Cities High School (math 5% / reading 30%, grade F, #264 of 424 statewide, top 63%, 1,483 students, 100% FRL) — zoned schools average 100% FRL vs 41% district-wide (59 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 51% district-wide (-34 pts) — the specific schools serving this property underperform the Fulton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.4%/yr); 283 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); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).

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 19 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 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 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $161,672 (19.2% below list)

Questions for the listing agent

1. Built in 1952 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.81% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.29%
• DSCR: 1.10
• GRM: 10.3

CMA / ARV

• ARV (median comp): $281,111
• List price: $200,000
• Delta: -28.85%
• 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
2024 Neely Ave	0.00mi	3/1.5 (+1)	1,256 (0%)	0mo	$190,000	$151	95
1856 Linwood Ave	0.37mi	2/2.0	1,269 (+1%)	1mo	$330,000	$260	79
1884 Spring Ave	0.39mi	2/1.0	1,241 (-1%)	2mo	$249,900	$201	76
2607 Farley St	0.36mi	3/2.0 (+1)	1,261 (+0%)	1mo	$145,000	$115	75
2894 S Clark Dr	0.46mi	2/2.0	1,278 (+2%)	1mo	$265,000	$207	72
2791 Pearl St	0.37mi	2/1.0	1,196 (-5%)	10mo	$264,000	$221	64
2513 Graywall St	0.63mi	3/2.0 (+1)	1,242 (-1%)	3mo	$175,000	$141	59
1780 W Forrest Ave	0.48mi	2/1.0	1,396 (+11%)	3mo	$215,000	$154	54
2949 Pearl St	0.60mi	2/2.0	1,410 (+12%)	2mo	$186,500	$132	47
2345 Old Colony Rd	0.62mi	3/1.0 (+1)	1,178 (-6%)	8mo	$280,000	$238	47
1759 Thompson Ave	0.56mi	3/1.0 (+1)	1,420 (+13%)	1mo	$306,000	$215	45
3020 Washington Rd	0.71mi	2/1.0	1,101 (-12%)	8mo	$155,000	$141	38

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 · 1.35% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-28,353
• Equity at exit: $29,821

10-year hold

• IRR: -8.2%
• Equity multiple: 0.52×
• Total profit: $-26,842
• 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 30344

• Home prices YoY: -31.0%
• Rents YoY: 1.4%
• Active inventory: 283
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,617 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$38 /mo · $459/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $107

Break-even live

Break-even rent $1,482

Max offer price $200,000

Occupancy floor 88%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1932 Montrose Dr Atlanta, GA	3.0	1.0	1200	$1,750	$1.46	18d	1	0.19mi
1914 Montrose Dr Atlanta, GA	2.0	1.0	1216	$2,000	$1.64	43d	1	0.23mi
1923 Thompson Ave Unit 2 East Point, GA	1.0	1.0	1047	$1,000	$0.96	12d	1	0.31mi
1923 Thompson Ave Unit 2 East Point, GA	1.0	1.0	1047	$1,000	$0.96	43d	1	0.31mi
2730 Pearl St Unit 1 East Point, GA	2.0	1.0	910	$1,175	$1.29	43d	1	0.34mi
2450 Hillcrest Dr Atlanta, GA	2.0	1.5	918	$2,400	$2.61	16d	1	0.43mi
2756 Plantation Dr Atlanta, GA	3.0	2.0	1119	$1,950	$1.74	20d	1	0.52mi
2481 Semmes St Atlanta, GA	3.0	1.0	1500	$1,850	$1.23	43d	1	0.52mi
1742 Ware Ave Atlanta, GA	2.0	1.0	916	$1,300	$1.42	24d	1	0.54mi
1903 Chattahoochee Pl Atlanta, GA	3.0	2.0	1333	$1,850	$1.39	12d	1	0.59mi
2956 8th St Atlanta, GA	1.0	1.0	1000	$750	$0.75	15d	1	0.61mi
1902 Connally Dr Atlanta, GA	2.0	1.5	993	$2,450	$2.47	43d	1	0.67mi
2874 Cheney St Atlanta, GA	2.0	1.0	900	$1,300	$1.44	43d	1	0.67mi
2284 Headland Dr Atlanta, GA	3.0	3.5	1117	$1,502	$1.34	12d	1	0.68mi
2287 Mulberry St Unit B Atlanta, GA	3.0	1.0	1700	$2,500	$1.47	24d	1	0.68mi
1656 Ware Ave Atlanta, GA	3.0	2.0	1866	$2,150	$1.15	43d	1	0.69mi
2764 Riggs Dr Atlanta, GA	3.0	2.0	1147	$2,050	$1.79	43d	1	0.69mi
2656 Westchester Dr Atlanta, GA	3.0	1.0	1025	$1,600	$1.56	19d	1	0.71mi
1917 Connally Dr Atlanta, GA	3.0	2.0	1534	$1,850	$1.21	12d	1	0.71mi
2610 Harmony Way Atlanta, GA	3.0	1.0	1100	$1,095	$1.00	24d	1	0.80mi
2627 N Church St East Point, GA	2.0–3.0	1.0–2.0	1020	$1,289	$1.26	22d	2	0.81mi
3100 Larose St Atlanta, GA	3.0	1.0	1121	$1,600	$1.43	43d	1	0.83mi
3045 Semmes St Atlanta, GA	2.0	1.5	1000	$1,400	$1.40	43d	3	0.84mi
3030 Remington St Atlanta, GA	3.0	1.0	1100	$1,200	$1.09	24d	1	0.87mi
3031 Remington St Atlanta, GA	3.0	2.0	1369	$1,200	$0.88	18d	1	0.90mi
1863 Phillips Ave Atlanta, GA	3.0	2.5	1470	$2,115	$1.44	11d	1	0.92mi
2523 Ben Hill Rd Atlanta, GA	3.0	1.5	1412	$3,000	$2.12	22d	1	0.93mi
3158 Cloverhurst Dr Atlanta, GA	3.0	2.0	1196	$1,700	$1.42	43d	1	0.94mi
2124 Delowe Dr Unit 2124J East Point, GA	3.0	1.0	920	$1,500	$1.63	24d	1	0.97mi
3184 Pollard St Atlanta, GA	3.0	2.0	1400	$1,800	$1.29	43d	1	1.00mi
1875 Dunlap Ave Atlanta, GA	2.0	1.0	1650	$1,875	$1.14	43d	1	1.00mi
1940 Dunlap Ave Atlanta, GA	1.0	1.0	950	$750	$0.79	43d	1	1.01mi
1493 Ashley Way Atlanta, GA	3.0	2.5	1646	$1,900	$1.15	43d	1	1.02mi
1827 Dunlap Ave Atlanta, GA	3.0	2.0	1250	$3,200	$2.56	43d	1	1.03mi
1836 Dunlap Ave Apt 90 Atlanta, GA	2.0	1.5	1030	$1,150	$1.12	24d	1	1.05mi
3128 Chateau Blvd East Point, GA	1.0	1.0	900	$1,295	$1.44	24d	1	1.08mi
3128 Chateau Blvd East Point, GA	1.0–2.0	1.0	1000	$1,395	$1.40	15d	12	1.08mi
3181 Church St Unit A Atlanta, GA	2.0	2.0	1646	$1,750	$1.06	22d	1	1.08mi
3241 Turner St Unit 1 East Point, GA	2.0	1.5	1200	$1,295	$1.08	43d	1	1.08mi
1845 Vesta Ave Atlanta, GA	3.0	2.0	1581	$2,128	$1.35	24d	1	1.10mi

Listing history 3 events

1. 2026-05-07
   listed $200,000 Active 1110-char remark

   Show marketing remark (1092 chars)

   Unleash your creativity and vision on this solid four-sided brick ranch in the heart of East Point's Conley Hills. This diamond in the rough is a true fixer-upper, perfectly suited for a complete interior renovation to match your personal style or investment goals. While the inside awaits your transformation, the bones are excellent: the roof is less than two years old and the original hardwood floors are ready to be refinished to their former glory. Outside, you'll find a large, level, and cleared backyard offering endless possibilities for outdoor living, gardening, or expansion. Location is everything! You are just minutes away from the vibrant dining and shopping at Camp Creek Marketplace and the charming downtown East Point district. Enjoy easy access to local favorites like the Dick Lane Velodrome and Sumner Park, or take a short drive to the Tyler Perry Studios and Hartsfield-Jackson International Airport. With quick access to I-85, you're never far from the best of Atlanta. Bring your contractor and your imagination-this property is priced to sell and won't last long!

2. 2026-05-07
   listed $200,000 New 1092-char remark

   Show marketing remark (1092 chars)

   Unleash your creativity and vision on this solid four-sided brick ranch in the heart of East Point's Conley Hills. This diamond in the rough is a true fixer-upper, perfectly suited for a complete interior renovation to match your personal style or investment goals. While the inside awaits your transformation, the bones are excellent: the roof is less than two years old and the original hardwood floors are ready to be refinished to their former glory. Outside, you'll find a large, level, and cleared backyard offering endless possibilities for outdoor living, gardening, or expansion. Location is everything! You are just minutes away from the vibrant dining and shopping at Camp Creek Marketplace and the charming downtown East Point district. Enjoy easy access to local favorites like the Dick Lane Velodrome and Sumner Park, or take a short drive to the Tyler Perry Studios and Hartsfield-Jackson International Airport. With quick access to I-85, you're never far from the best of Atlanta. Bring your contractor and your imagination-this property is priced to sell and won't last long!

3. 1985-11-15
   soldstatus $52,000

ⓘ 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: $459 · $38/mo
• Projected year-2 tax: $1,840 · $153/mo
• Expected delta: +$1,381/yr (+$115/mo · 300.9%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,401
• − Mortgage interest: −$11,203
• − Property taxes: −$459
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,552
• − Management: −$1,552
• − Depreciation: −$5,818
• Taxable loss: −$2,184
• Est. tax savings @ 24.0%: +$524
• After-tax cash flow: $1,806/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: Fulton County
• NCES district ID: 1302280
• Math proficiency: 49% ▼ -2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $68,035
• Composite: 45.33/100
• National rank: #2640
• State rank: #12 of 174 in GA

Livability — East Point

• Score: 72/100
• State rank: #72
• US rank: #6314

Category grades

Amenities F Commute A+ Cost of living A+ Crime F Employment D+ Housing A+ Health & safety B+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Point, GA
• County: Fulton County · 1,094,430 people
• City population: 35,456
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 35,456
• Household income: $68,380
• Rent vs Own: 56.9% rent · 43.1% own
• Severe rent burden: 2226.0

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 (74%)
• Race & ethnicity: Black 74% White 11% Hispanic / Latino 11% Two or more races 6%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Italian 1% Swiss 1% Russian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 1% German/W. Germanic 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: ▼ -113.15%
• Current HPI: 251.7916
• Rent YoY: ▲ 1.35%
• 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

+265.4% since first listed

7 events — show timeline

• 2026-06-04 Sold (MLS) $190,000 FMLS
• 2026-06-04 Sold (MLS) $190,000 GAMLS
• 2026-05-26 Pending — GAMLS
• 2026-05-26 Pending — FMLS
• 2026-05-07 Listed $200,000 FMLS
• 2026-05-07 Listed $200,000 GAMLS
• 1985-11-15 Sold (Public Records) $52,000 Public Records

Property tax history

-1.6%/yr

Latest (2025): $459 · +4.0% YoY. Source: county tax records.