528 Lake Dr · Hapeville, GA 30354

$125,000

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 3 Days on market

Built 1950 6,250 sqft lot Est $134k · 7% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +10.5/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Schools +4.5/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 528 Lake Drive, a charming Hapeville bungalow offering comfort, convenience, and long-term upside in one of Atlanta's most connected southside communities. This two-bedroom, one-bath home features a functional layout, gas appliances, and the approachable scale buyers love for everyday living, portfolio growth, or a first investment opportunity. Set near the heart of downtown Hapeville, the home places you close to local restaurants, coffee shops, parks, public art, and the small-town energy that continues to define this growing city. Hapeville's location is a major advantage, with quick access to downtown Atlanta, Hartsfield-Jackson Atlanta International Airport, I-75, I-85, and major employment hubs including Delta, Porsche, and Chick-fil-A. The city also continues to see meaningful growth, with current and upcoming projects such as Solis Hapeville, Dogwood-area townhome development, and other mixed-use and residential projects adding momentum to the area. Whether you are seeking a comfortable in-town home, a smart rental opportunity, or an addition to an existing portfolio, 528 Lake Drive offers a compelling blend of location, livability, and future potential in a community on the rise.

Key facts

• Gas appliances
• Practical layout
• Easy access to i-85

Tags

• GAS APPLIANCES
• PRACTICAL LAYOUT
• EASY ACCESS TO I-75
• EASY ACCESS TO I-85
• MAJOR EMPLOYMENT CENTERS

Property features AI

Exterior

• Parking: Detached garage (garage faces rear); One garage parking space; one total parking space
• Utilities: Public water; Public sewer; 220 volt electric; Cable available; Electricity available; Natural gas available; Phone available; Sewer available; Water available
• Home design: One-story; Wood siding construction; Resale property
• Construction: Composition roof; Brick/mortar foundation
• Exterior features: Awnings; Gas grill; Screened side porch; Back yard with chain-link fence

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator; No special kitchen features listed
• Bedrooms: Two main-level bedrooms
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Wood-frame windows; Sun room; Other interior features; No shared/common walls; Crawl space basement
• Laundry & utility: Electric and gas dryer hookups; Mud room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 11.5% vs local median 3.6% in Hapeville — 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 76/100 on livability (#25 in GA, #3,590 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: commute 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: Hapeville Elementary School (math 37% / reading 37%, grade F, #485 of 1,228 statewide, top 41%, 528 students, 100% FRL); 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 24% at this address vs 51% district-wide (-27 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 fast (+5.5%/yr); 175 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $864 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

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.
• Current owner paid $40k; list at $125k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% 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 $125,000

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. 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. 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.
5. 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.
6. 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: 1.42% ✓
• Cap rate: 11.50%
• Cash-on-cash: 18.61%
• DSCR: 1.83
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $133,848
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
528 Lake Dr	0.00mi	2/1.0	936 (0%)	0mo	$125,000	$134	100
540 Lake Dr	0.02mi	3/1.0 (+1)	930 (-1%)	1mo	$102,000	$110	92
544 Lake Dr	0.04mi	3/0.5 (+1)	952 (+2%)	1mo	$118,000	$124	88
666 Campbell Cir	0.36mi	2/1.0	946 (+1%)	8mo	$135,000	$143	75
2980 Wanda Cir SW	0.53mi	3/1.0 (+1)	975 (+4%)	2mo	$120,000	$123	62
2955 Wanda Cir SW	0.59mi	3/1.0 (+1)	975 (+4%)	1mo	$151,000	$155	60
682 Steve Dr SW	0.70mi	2/1.5	975 (+4%)	5mo	$90,000	$92	54
3018 Wanda Cir SW	0.56mi	3/2.0 (+1)	1,000 (+7%)	3mo	$229,000	$229	51
2931 Diana Dr SW	0.65mi	3/1.5 (+1)	1,000 (+7%)	1mo	$220,000	$220	50
2928 Diana Dr SW	0.65mi	3/1.0 (+1)	1,000 (+7%)	5mo	$87,000	$87	50
419 Mount Zion Rd SW	0.48mi	3/2.0 (+1)	1,032 (+10%)	5mo	$225,000	$218	48
3010 1st Ave SW	0.53mi	3/1.0 (+1)	1,075 (+15%)	1mo	$182,500	$170	45

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 · 5.45% rent growth · sell at horizon

5-year hold

• IRR: 13.1%
• Equity multiple: 1.54×
• Total profit: $18,807
• Equity at exit: $18,638

10-year hold

• IRR: 23.8%
• Equity multiple: 3.29×
• Total profit: $80,288
• Equity at exit: $10,808

Cash invested: $35,000 (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 30354

• Home prices YoY: -17.5%
• Rents YoY: 5.5%
• Active inventory: 175
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,772 high
• Mortgage (P&I): −$656
• Tax from tax record: −$150 /mo · $1,799/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $543

Break-even live

Break-even rent $1,085

Max offer price $125,000

Occupancy floor 64%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
535 Lake Dr Atlanta, GA	3.0	2.0	1080	$2,275	$2.11	43d	1	0.03mi
518 North Ave Atlanta, GA	2.0	1.5	1096	$2,150	$1.96	10d	1	0.13mi
3116 Jackson St Atlanta, GA	2.0	2.0	1016	$1,900	$1.87	43d	1	0.15mi
735 Oak Dr Hapeville, GA	2.0	1.0	1053	$1,550	$1.47	22d	1	0.24mi
3301 Old Jonesboro Rd Atlanta, GA	2.0	1.0	899	$2,250	$2.50	5d	1	0.25mi
3287 Russell St Atlanta, GA	2.0	1.0	800	$1,195	$1.49	43d	1	0.26mi
278 Moreland Way Atlanta, GA	3.0	2.0	1000	$1,945	$1.95	24d	1	0.37mi
231 Maple St Atlanta, GA	3.0	2.0	1068	$1,645	$1.54	43d	1	0.39mi
3162 Oakdale Rd Atlanta, GA	3.0	1.0	1040	$3,200	$3.08	43d	1	0.41mi
3028 Grand Ave SW Atlanta, GA	1.0	1.0	1048	$900	$0.86	5d	1	0.50mi
3018 Grand Ave SW Atlanta, GA	2.0	1.0	825	$1,400	$1.70	4d	1	0.51mi
2955 1st Ave SW Unit 1 Atlanta, GA	1.0	1.0	600	$1,050	$1.75	24d	1	0.58mi
2959 Forrest Hills Dr SW Atlanta, GA	1.0–2.0	1.0–1.5	925	$1,250	$1.35	14d	1	0.60mi
2959 Forrest Hills Dr SW Atlanta, GA	1.0–2.0	1.0–1.5	925	$1,250	$1.35	16d	2	0.60mi
3054 Waters Rd SW Atlanta, GA	3.0	1.0	891	$1,800	$2.02	7d	1	0.62mi
2875 3rd Ave SW Unit A Atlanta, GA	2.0	1.0	900	$1,245	$1.38	2d	1	0.67mi
852 Custer St Hapeville, GA	1.0	1.0	610	$1,600	$2.62	18d	1	0.74mi
2857 1st Ave SW Atlanta, GA	3.0	2.0	696	$1,899	$2.73	24d	1	0.75mi
3558 Elm St Atlanta, GA	3.0	1.0–2.0	1098	$2,751	$2.50	12d	33	0.76mi
536 College St Hapeville, GA	2.0	1.0	765	$1,295	$1.69	17d	1	0.81mi
536 College St Apt 10 Hapeville, GA	2.0	1.0	636	$1,295	$2.04	43d	1	0.82mi
558 College St Atlanta, GA	1.0–2.0	1.5	850	$1,289	$1.52	15d	6	0.83mi
397 N Central Ave Hapeville, GA	1.0–2.0	1.0–2.0	950	$2,704	$2.85	1d	24	0.86mi
3640 S Fulton Ave Atlanta, GA	1.0–2.0	1.0–2.0	950	$1,793	$1.89	2d	27	0.88mi
45 Baker Dr SW Atlanta, GA	3.0	2.0	1056	$1,600	$1.52	24d	1	0.89mi
2952 Palm Dr Atlanta, GA	3.0	2.0	1120	$1,875	$1.67	5d	1	0.94mi
532 Cleveland Ave SW Atlanta, GA	2.0	1.0	836	$950	$1.14	15d	1	0.99mi
532 Cleveland Ave SW Atlanta, GA	2.0	1.0	836	$925	$1.11	22d	1	0.99mi
3188 Ward Dr SW Atlanta, GA	3.0	1.5	1025	$1,800	$1.76	12d	1	1.12mi
2786 Old Hapeville Rd SW Atlanta, GA	2.0	1.5	1050	$1,150	$1.10	24d	1	1.13mi
2801 Palm Dr Atlanta, GA	3.0	1.0	1064	$1,550	$1.46	12d	1	1.14mi
2745 Old Hapeville Rd SW Atlanta, GA	2.0–3.0	2.0	1007	$1,250	$1.24	15d	1	1.14mi
2611 Springdale Rd SW Atlanta, GA	1.0	1.0	546	$1,071	$1.96	24d	1	1.25mi
2744 Miles Cir Unit 2746 Atlanta, GA	2.0	1.0	800	$1,295	$1.62	2d	1	1.31mi
488 Pomona Cir SW Atlanta, GA	3.0	1.0	1000	$1,800	$1.80	24d	1	1.34mi
2748 Blount St Atlanta, GA	3.0	1.0	1068	$1,850	$1.73	43d	1	1.34mi
2718 Miles Cir Unit 1 Atlanta, GA	2.0	1.0	750	$1,300	$1.73	15d	1	1.38mi
1100 Washington Cir Atlanta, GA	1.0–4.0	1.0–1.5	1000	$1,333	$1.33	3d	1	1.41mi
1244 Calhoun Ave Atlanta, GA	3.0	1.5	1072	$1,673	$1.56	43d	1	1.43mi
3041 North St Unit B East Point, GA	2.0	1.0	650	$895	$1.38	43d	1	1.47mi

Listing history 5 events

1. 2026-05-19
   status Pending

   Show marketing remark (1224 chars)

   Welcome to 528 Lake Drive, a charming Hapeville bungalow offering comfort, convenience, and long-term upside in one of Atlanta's most connected southside communities. This two-bedroom, one-bath home features a functional layout, gas appliances, and the approachable scale buyers love for everyday living, portfolio growth, or a first investment opportunity. Set near the heart of downtown Hapeville, the home places you close to local restaurants, coffee shops, parks, public art, and the small-town energy that continues to define this growing city. Hapeville's location is a major advantage, with quick access to downtown Atlanta, Hartsfield-Jackson Atlanta International Airport, I-75, I-85, and major employment hubs including Delta, Porsche, and Chick-fil-A. The city also continues to see meaningful growth, with current and upcoming projects such as Solis Hapeville, Dogwood-area townhome development, and other mixed-use and residential projects adding momentum to the area. Whether you are seeking a comfortable in-town home, a smart rental opportunity, or an addition to an existing portfolio, 528 Lake Drive offers a compelling blend of location, livability, and future potential in a community on the rise.

2. 2026-05-19
   status Under Contract 1224-char remark

   Show marketing remark (1224 chars)

   Welcome to 528 Lake Drive, a charming Hapeville bungalow offering comfort, convenience, and long-term upside in one of Atlanta's most connected southside communities. This two-bedroom, one-bath home features a functional layout, gas appliances, and the approachable scale buyers love for everyday living, portfolio growth, or a first investment opportunity. Set near the heart of downtown Hapeville, the home places you close to local restaurants, coffee shops, parks, public art, and the small-town energy that continues to define this growing city. Hapeville's location is a major advantage, with quick access to downtown Atlanta, Hartsfield-Jackson Atlanta International Airport, I-75, I-85, and major employment hubs including Delta, Porsche, and Chick-fil-A. The city also continues to see meaningful growth, with current and upcoming projects such as Solis Hapeville, Dogwood-area townhome development, and other mixed-use and residential projects adding momentum to the area. Whether you are seeking a comfortable in-town home, a smart rental opportunity, or an addition to an existing portfolio, 528 Lake Drive offers a compelling blend of location, livability, and future potential in a community on the rise.

3. 2026-05-16
   listed $125,000 Active
4. 2025-12-11
   listed $125,000 New 1224-char remark

   Show marketing remark (1224 chars)

   Welcome to 528 Lake Drive, a charming Hapeville bungalow offering comfort, convenience, and long-term upside in one of Atlanta's most connected southside communities. This two-bedroom, one-bath home features a functional layout, gas appliances, and the approachable scale buyers love for everyday living, portfolio growth, or a first investment opportunity. Set near the heart of downtown Hapeville, the home places you close to local restaurants, coffee shops, parks, public art, and the small-town energy that continues to define this growing city. Hapeville's location is a major advantage, with quick access to downtown Atlanta, Hartsfield-Jackson Atlanta International Airport, I-75, I-85, and major employment hubs including Delta, Porsche, and Chick-fil-A. The city also continues to see meaningful growth, with current and upcoming projects such as Solis Hapeville, Dogwood-area townhome development, and other mixed-use and residential projects adding momentum to the area. Whether you are seeking a comfortable in-town home, a smart rental opportunity, or an addition to an existing portfolio, 528 Lake Drive offers a compelling blend of location, livability, and future potential in a community on the rise.

5. 1995-05-31
   soldstatus $40,000

ⓘ 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: $1,799 · $150/mo
• Projected year-2 tax: $1,799 · $150/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 ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $21,269
• − Mortgage interest: −$7,002
• − Property taxes: −$1,799
• − Insurance: −$625
• − Repairs & maintenance: −$1,702
• − Management: −$1,702
• − Depreciation: −$3,636
• Taxable income: $4,803
• Est. tax owed @ 24.0%: −$1,153
• After-tax cash flow: $5,359/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 — Hapeville

• Score: 76/100
• State rank: #25
• US rank: #3590

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hapeville, GA
• County: Fulton County · 1,094,430 people
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 16,182
• Household income: $63,189
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 930.0

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 (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 16% White 10% Two or more races 9% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Romanian 1% Swedish 1%
• Foreign-born: 11% · Canada, Vietnam, Guatemala
• Languages at home: 81% English-only · Spanish 15% German/W. Germanic 1% Vietnamese 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: ▼ -67.78%
• Current HPI: 320.1111
• Rent YoY: ▲ 5.45%
• 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

+212.5% since first listed

5 events — show timeline

• 2026-05-19 Pending — FMLS
• 2026-05-19 Pending — GAMLS
• 2026-05-16 Listed $125,000 FMLS
• 2025-12-11 Listed $125,000 GAMLS
• 1995-05-31 Sold (Public Records) $40,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,799 · -11.0% YoY. Source: county tax records.