928 Welch St SW · Atlanta, GA 30310

$130,000

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 86 Days on market

Built 1920 3,001 sqft lot $118/sqft · 56% below area ↓ 29% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bed, 2 bath property on a strong street in Pittsburgh surrounded by renovated homes and new construction. Full renovation needed or tear down and build new. Ideal for investors or builders looking to add value in a growing area. Sold as-is. Enter and walk the property at your own risk.

Key facts

• 3,001 sq ft lot
• Built 1920
• Listed 85 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $772 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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 rising (+2.8%/yr); 460 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); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $2,193/mo this rent would consume 50% of the median local household income ($53k/yr) (locally 1676% 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 $899 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 + 2.8% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 1.69% ✓
• Cap rate: 13.42%
• Cash-on-cash: 25.46%
• DSCR: 2.13
• GRM: 4.9

CMA / ARV

• ARV (median comp): $297,774
• List price: $130,000
• Delta: -56.34%
• 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
749 Bonnie Brae Ave SW	0.44mi	3/2.0	1,141 (+4%)	1mo	$364,251	$319	68
997 Ira St SW	0.29mi	3/2.0	1,014 (-8%)	4mo	$109,000	$107	66
802 Welch St SW	0.24mi	3/2.0	1,218 (+11%)	1mo	$289,900	$238	66
1180 Garibaldi St SW	0.58mi	3/2.0	1,085 (-1%)	6mo	$243,000	$224	62
953 Garibaldi St SW	0.31mi	3/2.0	1,003 (-9%)	8mo	$265,000	$264	60
1056 Welch St SW	0.24mi	2/2.5 (-1)	1,189 (+8%)	5mo	$145,000	$122	60
1143 Windsor St SW	0.53mi	3/1.0	1,008 (-8%)	2mo	$99,000	$98	60
490 Rockwell St SW	0.15mi	2/2.0 (-1)	936 (-15%)	2mo	$179,900	$192	58
1149 Ira St SW	0.49mi	3/2.0	1,231 (+12%)	3mo	$184,000	$149	51
585 Ira St SW	0.69mi	2/1.5 (-1)	1,050 (-4%)	7mo	$245,000	$233	48
530 Erin Ave SW	0.70mi	3/2.0	1,010 (-8%)	7mo	$299,900	$297	44
885 Rose Cir	0.71mi	3/1.0	1,259 (+14%)	2mo	$195,000	$155	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 · 2.77% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 1.76×
• Total profit: $27,679
• Equity at exit: $19,383

10-year hold

• IRR: 27.0%
• Equity multiple: 3.35×
• Total profit: $85,651
• Equity at exit: $11,240

Cash invested: $36,400 (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 30310

• Home prices YoY: -32.8%
• Rents YoY: 2.8%
• Active inventory: 460
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,193 high
• Mortgage (P&I): −$682
• Tax from tax record: −$225 /mo · $2,697/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $772

Break-even live

Break-even rent $1,216

Max offer price $130,000

Occupancy floor 60%

Sensitivity live

Price	-10% $846	-5% $809	+0% $772	+5% $735	+10% $699
Rent	-10% $599	-5% $686	+0% $772	+5% $859	+10% $945
Rate	-1.0pp $838	-0.5pp $805	base $772	+0.5pp $738	+1.0pp $704

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
564 Hope St SW Unit A Atlanta, GA	4.0	2.0	1188	$2,300	$1.94	25d	1	0.08mi
840 Smith St SW Unit A Atlanta, GA	2.0	1.5	910	$1,550	$1.70	18d	1	0.28mi
1040 Smith St SW Atlanta, GA	3.0	2.5	1500	$1,595	$1.06	25d	1	0.36mi
600 Mayland Ave SW Atlanta, GA	3.0	2.0	1100	$2,300	$2.09	25d	1	0.40mi
1135 Coleman St SW Atlanta, GA	3.0	2.5	1353	$1,795	$1.33	25d	1	0.42mi
1135 Coleman St SW Atlanta, GA	3.0	2.5	1353	$1,795	$1.33	0d	1	0.42mi
1133 Mayland Cir SW Atlanta, GA	3.0	2.0	1120	$3,600	$3.21	25d	1	0.42mi
1048 Garibaldi St SW Atlanta, GA	2.0	2.0	1280	$2,150	$1.68	25d	1	0.43mi
404 Bass St SW Atlanta, GA	3.0	2.0	1080	$1,850	$1.71	18d	1	0.44mi
706 Catherine St SW Atlanta, GA	3.0	2.0	1352	$2,200	$1.63	0d	1	0.44mi
706 Catherine St SW Atlanta, GA	3.0	2.0	1352	$2,200	$1.63	9d	1	0.44mi
806 Murphy Ave SW Atlanta, GA	1.0–2.0	1.0	825	$1,254	$1.52	25d	8	0.47mi
906 Allene Ave SW Atlanta, GA	3.0	2.0	1500	$3,500	$2.33	23d	1	0.49mi
1180 Sims St SW Atlanta, GA	2.0	1.0	772	$1,100	$1.42	25d	1	0.52mi
1187 McDaniel St SW Unit B Atlanta, GA	2.0	1.0	1038	$1,025	$0.99	13d	1	0.55mi
827 Elbert St SW Atlanta, GA	3.0	2.0	1300	$2,900	$2.23	25d	1	0.57mi
235 Dodd Ave SW Atlanta, GA	2.0	2.0	1120	$1,595	$1.42	0d	1	0.58mi
1175 Garibaldi St SW Atlanta, GA	3.0	2.5	1364	$2,295	$1.68	0d	1	0.59mi
1093 West Ave SW Atlanta, GA	2.0	1.0–2.0	770	$1,414	$1.84	0d	6	0.60mi
717 Lee St SW Atlanta, GA	1.0–2.0	1.0	768	$1,374	$1.79	0d	4	0.67mi
547 Erin Ave SW Atlanta, GA	3.0	2.0	1400	$5,000	$3.57	3d	1	0.71mi
547 Erin Ave SW Atlanta, GA	3.0	2.0	1394	$2,600	$1.87	25d	1	0.71mi
518 Erin Ave SW Atlanta, GA	2.0	1.0	1075	$2,500	$2.33	19d	1	0.72mi
1246 Allene Ave SW Atlanta, GA	2.0	1.0–2.0	896	$2,110	$2.35	0d	21	0.73mi
903 Beecher St SW Unit 905 Beecher Atlanta, GA	3.0	2.0	1500	$4,000	$2.67	23d	1	0.75mi
903 Beecher St SW Atlanta, GA	3.0	2.0	1500	$7,500	$5.00	25d	1	0.75mi
561 Formwalt St SW Atlanta, GA	2.0	2.0	1000	$1,600	$1.60	25d	1	0.83mi
818 Peeples St SW Atlanta, GA	2.0	1.0	936	$1,500	$1.60	25d	1	0.90mi
396 Rawson St SW Unit 12 Atlanta, GA	2.0	1.0	1000	$2,100	$2.10	0d	1	0.92mi
825 Erin Ave SW Atlanta, GA	2.0	1.0	776	$3,000	$3.87	25d	1	0.93mi
1264 Hartford Ave SW Atlanta, GA	3.0	2.0	1290	$1,989	$1.54	25d	1	0.94mi
549 Lynnhaven Dr SW Atlanta, GA	4.0	2.0	1215	$2,450	$2.02	25d	1	0.95mi
875 Hank Aaron Dr SW Atlanta, GA	1.0–3.0	1.0–2.0	916	$1,688	$1.84	25d	1	0.97mi
490 Lynnhaven Dr SW Atlanta, GA	3.0	2.0	1289	$2,395	$1.86	6d	1	0.99mi
898 Oak St SW #3203 Atlanta, GA	2.0	2.0	1208	$2,000	$1.66	5d	1	1.00mi
1056 Hank Aaron Dr SW Atlanta, GA	1.0–2.0	1.0	753	$1,139	$1.51	9d	6	1.04mi
1430 Desoto Ave SW Atlanta, GA	3.0	2.0	1224	$2,200	$1.80	25d	1	1.05mi
346 Peters St SW #102 Atlanta, GA	2.0	1.0	1080	$3,150	$2.92	20d	1	1.05mi
720 Hank Aaron Dr SE Atlanta, GA	2.0	1.0–2.0	891	$2,234	$2.51	0d	27	1.07mi
973 Lawton St SW Atlanta, GA	3.0	1.0	912	$1,575	$1.73	9d	1	1.08mi

Listing history 38 events

1. 2026-06-21
   days on market $130,000 Active 86 DOM
2. 2026-06-18
   days on market $130,000 Active 83 DOM
3. 2026-06-17
   days on market $130,000 Active 82 DOM
4. 2026-06-16
   days on market $130,000 Active 81 DOM
5. 2026-06-15
   days on market $130,000 Active 80 DOM
6. 2026-06-13
   days on market $130,000 Active 78 DOM
7. 2026-06-13
   days on market $130,000 Active 77 DOM
8. 2026-06-09
   days on market $130,000 Active 74 DOM
9. 2026-06-08
   days on market $130,000 Active 73 DOM
10. 2026-06-07
    days on market $130,000 Active 72 DOM
11. 2026-06-04
    days on market $130,000 Active 69 DOM
12. 2026-06-03
    days on market $130,000 Active 68 DOM
13. 2026-06-02
    days on market $130,000 Active 67 DOM
14. 2026-06-01
    days on market $130,000 Active 66 DOM
15. 2026-05-31
    days on market $130,000 Active 65 DOM
16. 2026-05-12
    price $134,900 288-char remark

    Show marketing remark (291 chars)

    3 bed, 2 bath property on a strong street in Pittsburgh surrounded by renovated homes and new construction. Full renovation needed or tear down and build new. Ideal for investors or builders looking to add value in a growing area. Sold as-is. Enter and walk the property at your own risk.

17. 2026-05-12
    price $134,900 291-char remark

    Show marketing remark (291 chars)

    3 bed, 2 bath property on a strong street in Pittsburgh surrounded by renovated homes and new construction. Full renovation needed or tear down and build new. Ideal for investors or builders looking to add value in a growing area. Sold as-is. Enter and walk the property at your own risk.

18. 2026-03-25
    listed $140,000 New 288-char remark

    Show marketing remark (291 chars)

    3 bed, 2 bath property on a strong street in Pittsburgh surrounded by renovated homes and new construction. Full renovation needed or tear down and build new. Ideal for investors or builders looking to add value in a growing area. Sold as-is. Enter and walk the property at your own risk.

19. 2026-03-25
    listed $140,000 Active 291-char remark

    Show marketing remark (291 chars)

    3 bed, 2 bath property on a strong street in Pittsburgh surrounded by renovated homes and new construction. Full renovation needed or tear down and build new. Ideal for investors or builders looking to add value in a growing area. Sold as-is. Enter and walk the property at your own risk.

20. 2023-11-30
    soldstatus $342,000 Sold
21. 2023-11-21
    soldstatus $342,000 Closed
22. 2023-10-18
    status Under Contract
23. 2023-09-15
    status Back On Market
24. 2023-08-14
    status Under Contract
25. 2023-08-14
    status Pending
26. 2023-07-31
    price $200,000
27. 2023-07-31
    price $200,000
28. 2023-07-07
    price $225,000
29. 2023-07-07
    price $225,000
30. 2023-06-27
    listed $250,000 New
31. 2023-06-27
    listed $250,000 Active
32. 2022-04-29
    historical
33. 2022-04-27
    soldstatus $200,000 Closed
34. 2022-04-27
    soldstatus $200,000 Sold
35. 2022-03-18
    status Pending
36. 2022-03-18
    status Under Contract
37. 2022-03-17
    listed $190,000 Active
38. 2022-03-17
    listed $190,000 New

ⓘ 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: $2,697 · $225/mo
• Projected year-2 tax: $2,697 · $225/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 · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $26,321
• − Mortgage interest: −$7,282
• − Property taxes: −$2,697
• − Insurance: −$650
• − Repairs & maintenance: −$2,106
• − Management: −$2,106
• − Depreciation: −$3,782
• Taxable income: $7,699
• Est. tax owed @ 24.0%: −$1,848
• After-tax cash flow: $7,418/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): 27,186
• Household income: $53,037
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 1676.0

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 (76%)
• Race & ethnicity: Black 76% White 14% Two or more races 4% Hispanic / Latino 4% Asian 2%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 0%
• Foreign-born: 5% · Canada, South Korea, Vietnam
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -204.00%
• Current HPI: 418.7297
• Rent YoY: ▲ 2.77%
• 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

-29.0% since first listed

23 events — show timeline

• 2026-05-12 Price Changed $134,900 GAMLS
• 2026-05-12 Price Changed $134,900 FMLS
• 2026-03-25 Listed $140,000 FMLS
• 2026-03-25 Listed $140,000 GAMLS
• 2023-11-30 Sold (MLS) $342,000 GAMLS
• 2023-11-21 Sold (MLS) $342,000 FMLS
• 2023-10-18 Pending — GAMLS
• 2023-09-15 Relisted — GAMLS
• 2023-08-14 Pending — GAMLS
• 2023-08-14 Pending — FMLS
• 2023-07-31 Price Changed $200,000 FMLS
• 2023-07-31 Price Changed $200,000 GAMLS
• 2023-07-07 Price Changed $225,000 GAMLS
• 2023-07-07 Price Changed $225,000 FMLS
• 2023-06-27 Listed $250,000 FMLS
• 2023-06-27 Listed $250,000 GAMLS
• 2022-04-29 Listing Removed — FMLS
• 2022-04-27 Sold (MLS) $200,000 GAMLS
• 2022-04-27 Sold (MLS) $200,000 FMLS
• 2022-03-18 Pending — FMLS
• 2022-03-18 Pending — GAMLS
• 2022-03-17 Listed $190,000 GAMLS
• 2022-03-17 Listed $190,000 FMLS

Property tax history

+31.9%/yr

Latest (2025): $2,697 · +28.8% YoY. Source: county tax records.