3334 Peachtree Rd NE #109

Atlanta, GA 30326

$379,900C

3 bd · 2.0 ba · 1,620 sqft · Built 1997 · Condo · Active · 153 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,763/mo
• Mortgage (P&I): −$1,992
• Tax + insurance: −$564
• HOA: −$903
• Vac / Maint / Mgmt: −$1,000
• Net cashflow: $303/mo
• Annual: $3,634/yr
• Cap rate: 7.25%
• Cash-on-cash: 3.42%
• DSCR: 1.15
• 1% rule: 1.25%
• Cash to close: $106,372

Investor read

• This is a 3-bed/2.0-bath condo listed at $380k.
• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $380k).
• It's been on market 153 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $334k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($3k loan paydown + $-1k 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: 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 fast (+4.6%/yr); 146 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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.
• 4 sale attempts; this cycle's ask has dropped $49k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $305k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-0.3% appreciation + 4.6% rent growth), your $106k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 7.2% 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.
• At $4,763/mo this rent would consume 47% of the median local household income ($122k/yr) (locally 1226% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% 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.
• 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.
• 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.
• 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.