238 Walker St #32 · Atlanta, GA 30313

$159,900

1 bd · 1.5 ba · 750 sqft · Condo public records · 41 Days on market

Built 2006 $213/sqft · 28% below area Est $222k · 28% under $153/mo HOA · 10% of rent ↓ 4% since listing

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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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.8/10.0
• Appreciation +4.5/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Affordable downtown Atlanta condo with endless potential! Home is conveniently located near shopping, dining, entertainment, public transportation, Georgia State University, Mercedes-Benz Stadium, and major interstates. Ideal opportunity for an owner-occupant or investor looking to add personal touches and value. The unit is in fair condition and priced to sell. Enjoy low-maintenance living in a prime location with strong growth potential. Sold As-Is, no seller disclosures.

Key facts

• Near dining
• Near shopping
• Downtown atlanta

Tags

• DOWNTOWN ATLANTA
• NEAR SHOPPING
• NEAR DINING
• NEAR ENTERTAINMENT
• NEAR PUBLIC TRANSPORTATION
• NEAR GEORGIA STATE UNIVERSITY

Property features AI

Finance

• Other: Directions: use GPS; Road surface/frontage: other; County: Fulton, GA
• HOA & community: Monthly association fee ($153) covering insurance, structure maintenance, pest control, reserve fund and trash; Community fitness center; Homeowners association

Exterior

• Parking: Carport (1 carport space, 1 total parking space)
• Security: Gated community
• Utilities: Public water; Public sewer; Electric service (other); Other utilities
• Home design: One level; Fee simple ownership; Resale property
• Construction: Brick construction; Other roof; Foundation details: see remarks
• Exterior features: Brick exterior; Other exterior features

Interior

• Kitchen: Solid surface counters; Other appliances included
• Bedrooms: Master on main
• Flooring: Hardwood; Other flooring
• Bathrooms: One full bathroom with tub/shower combo
• Heating & cooling: Central heating (electric); Ceiling fan cooling
• Interior features: High ceilings (including 9 ft on main, lower and upper levels); No one above (no units above); Open-concept dining area; Loft
• Laundry & utility: Hall laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $111 ($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 $157k (1.5% below list).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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: 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: M. A. Jones Elementary School (math 8% / reading 12%, grade F, #1,092 of 1,228 statewide, top 91%, 461 students, 100% FRL); Herman J. Russell West End Academy (math 12% / reading 12%, grade F, #417 of 470 statewide, top 90%, 399 students, 100% FRL); Booker T. Washington High School (math 24% / reading 24%, grade F, #184 of 424 statewide, top 48%, 831 students, 100% FRL) — zoned schools average 100% FRL vs 71% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 32% district-wide (-16 pts) — the specific schools serving this property underperform the Atlanta Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.5%/yr); 43 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.1%/yr); year-one equity from $1k of loan paydown is wiped out by about $2k 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 41 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 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.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.13%
• Cash-on-cash: 2.99%
• DSCR: 1.13
• GRM: 8.5

CMA / ARV

• ARV (median comp): $222,275
• List price: $159,900
• Delta: -28.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-1.06% appreciation · 4.46% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.93×
• Total profit: $-2,987
• Equity at exit: $38,141

10-year hold

• IRR: 6.5%
• Equity multiple: 1.65×
• Total profit: $29,204
• Equity at exit: $39,662

Cash invested: $44,772 (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 30313

• Home prices YoY: -0.8%
• Rents YoY: 4.5%
• Active inventory: 43
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,575 high
• Mortgage (P&I): −$839
• Tax from tax record: −$74 /mo · $892/yr
• Insurance: −$67
• HOA: −$153
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $111

Break-even live

Break-even rent $1,434

Max offer price $159,900

Occupancy floor 88%

Sensitivity live

Price	-10% $202	-5% $157	+0% $111	+5% $66	+10% $21
Rent	-10% $-13	-5% $49	+0% $111	+5% $174	+10% $236
Rate	-1.0pp $192	-0.5pp $152	base $111	+0.5pp $70	+1.0pp $28

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
238 Walker St SW Atlanta, GA	1.0–2.0	1.0–2.5	1550	$1,650	$1.06	14d	2	0.03mi
210 Walker St SW #1 Atlanta, GA	1.0	1.0	650	$1,500	$2.31	5d	1	0.05mi
210 Peters St SW Atlanta, GA	1.0–2.0	1.0–2.0	1033	$1,475	$1.43	3d	21	0.12mi
170 Northside Dr SW Atlanta, GA	1.0–2.0	1.0–2.0	955	$1,233	$1.29	2d	11	0.16mi
23 Larkin Pl SW Atlanta, GA	1.0–2.0	1.0–2.0	1011	$1,300	$1.29	2d	14	0.18mi
161 Mangum St SW #204 Atlanta, GA	1.0	1.0	718	$1,700	$2.37	17d	1	0.22mi
346 Peters St SW #208 Atlanta, GA	1.0	1.0	756	$2,050	$2.71	17d	1	0.22mi
346 Peters St SW #102 Atlanta, GA	2.0	1.0	1080	$3,150	$2.92	19d	1	0.22mi
510 Whitehall St SW Unit 103 Atlanta, GA	1.0	1.0	748	$1,645	$2.20	8d	1	0.35mi
396 Rawson St SW Unit 12 Atlanta, GA	2.0	1.0	675	$2,100	$3.11	4d	1	0.37mi
600 Greensferry Ave SW Atlanta, GA	1.0–3.0	1.0–2.0	949	$934	$0.98	8d	16	0.37mi
125 Ted Turner Dr SW Atlanta, GA	1.0–2.0	1.0–2.0	887	$1,723	$1.94	3d	5	0.37mi
420 Rawson St SW Atlanta, GA	1.0	1.0	700	$950	$1.36	24d	1	0.38mi
99 Centennial Olympic Park Dr Atlanta, GA	2.0	1.0–2.0	851	$1,961	$2.30	24d	23	0.39mi
99 Centennial Olympic Park Dr Atlanta, GA	2.0	1.0–2.0	929	$1,966	$2.11	1d	15	0.39mi
109 Vine St SW Unit A Atlanta, GA	2.0	1.0	600	$1,250	$2.08	22d	1	0.43mi
109 Vine St SW Unit A Atlanta, GA	2.0	1.0	750	$1,150	$1.53	8d	1	0.43mi
669 Atlanta Student Movement Blvd Atlanta, GA	2.0	1.0–2.0	803	$1,614	$2.01	24d	12	0.49mi
250 Martin Luther King Junior Dr SW Atlanta, GA	3.0	1.0–3.0	989	$3,000	$3.03	2d	78	0.49mi
55 Maple St NW Atlanta, GA	1.0–3.0	1.0–2.0	862	$1,410	$1.63	5d	35	0.53mi
133 Trinity Ave SW Atlanta, GA	1.0–2.0	1.0–2.0	897	$1,495	$1.67	8d	9	0.59mi
502 Pryor St SW #317 Atlanta, GA	1.0	1.0	750	$1,350	$1.80	24d	1	0.64mi
565 Northside Dr SW Atlanta, GA	1.0	1.0	675	$1,700	$2.52	3d	6	0.67mi
574 Cooper St SW Atlanta, GA	1.0	1.0	800	$900	$1.12	21d	1	0.68mi
561 Formwalt St SW Atlanta, GA	2.0	2.0	1000	$1,600	$1.60	24d	1	0.68mi
20 Griffin St NW Unit 1 Atlanta, GA	2.0	1.0	800	$1,250	$1.56	24d	1	0.78mi
101 Sunset Ave NW Atlanta, GA	1.0	1.0	700	$950	$1.36	21d	1	0.79mi
75 Griffin St NW Atlanta, GA	2.0	1.0	1000	$1,600	$1.60	24d	1	0.80mi
32 Peachtree St NW Atlanta, GA	1.0	1.0	609	$1,488	$2.44	4d	2	0.84mi
32 Peachtree St NW Atlanta, GA	1.0–2.0	1.0–2.0	772	$1,695	$2.19	11d	1	0.84mi
32 Peachtree St NW #1301 Atlanta, GA	1.0	1.0	591	$1,775	$3.00	5d	1	0.84mi
710 McDaniel St SW Unit 1 Atlanta, GA	1.0	1.0	600	$1,100	$1.83	24d	1	0.86mi
50 Peachtree St NW Atlanta, GA	1.0	1.0	817	$1,422	$1.74	5d	6	0.89mi
60 Paschal Blvd NW Atlanta, GA	1.0–3.0	1.0–2.5	945	$701	$0.74	24d	25	0.94mi
870 Mayson Turner Rd NW #1442 Atlanta, GA	2.0	2.0	1094	$2,100	$1.92	24d	1	1.02mi
776 Metropolitan Pkwy SW Atlanta, GA	2.0–3.0	2.0–3.0	1212	$2,165	$1.79	2d	6	1.02mi
260 Elm St NW Unit 1 Atlanta, GA	1.0	1.0	600	$1,050	$1.75	8d	1	1.04mi
89 Woodward Ave SE Atlanta, GA	1.0–3.0	1.0–2.0	1013	$989	$0.98	1d	30	1.05mi
565 Hank Aaron Dr SW Atlanta, GA	1.0–3.0	1.0–2.0	1139	$1,583	$1.39	2d	23	1.06mi
840 Smith St SW Unit A Atlanta, GA	2.0	1.5	910	$1,550	$1.70	17d	1	1.09mi

HOA detail condo

• Monthly dues: $153 · $1,836/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $159,900 Active 41 DOM
2. 2026-06-17
   pricedays on market $159,900 Active 40 DOM
3. 2026-06-16
   days on market $169,900 Active 39 DOM

   Show marketing remark (478 chars)

   Affordable downtown Atlanta condo with endless potential! Home is conveniently located near shopping, dining, entertainment, public transportation, Georgia State University, Mercedes-Benz Stadium, and major interstates. Ideal opportunity for an owner-occupant or investor looking to add personal touches and value. The unit is in fair condition and priced to sell. Enjoy low-maintenance living in a prime location with strong growth potential. Sold As-Is, no seller disclosures.

4. 2026-06-15
   days on market $169,900 Active 38 DOM
5. 2026-06-13
   days on market $169,900 Active 36 DOM
6. 2026-06-13
   days on market $169,900 Active 35 DOM
7. 2026-06-09
   days on market $169,900 Active 32 DOM
8. 2026-06-08
   days on market $169,900 Active 31 DOM
9. 2026-06-07
   days on market $169,900 Active 30 DOM
10. 2026-06-04
    days on market $169,900 Active 27 DOM
11. 2026-06-03
    days on market $169,900 Active 26 DOM
12. 2026-06-02
    days on market $169,900 Active 25 DOM
13. 2026-06-01
    days on market $169,900 Active 24 DOM
14. 2026-05-31
    days on market $169,900 Active 23 DOM
15. 2026-05-08
    listed $169,900 Active 499-char remark

    Show marketing remark (478 chars)

    Affordable downtown Atlanta condo with endless potential! Home is conveniently located near shopping, dining, entertainment, public transportation, Georgia State University, Mercedes-Benz Stadium, and major interstates. Ideal opportunity for an owner-occupant or investor looking to add personal touches and value. The unit is in fair condition and priced to sell. Enjoy low-maintenance living in a prime location with strong growth potential. Sold As-Is, no seller disclosures.

16. 2026-05-08
    listed $169,900 New 499-char remark

    Show marketing remark (478 chars)

    Affordable downtown Atlanta condo with endless potential! Home is conveniently located near shopping, dining, entertainment, public transportation, Georgia State University, Mercedes-Benz Stadium, and major interstates. Ideal opportunity for an owner-occupant or investor looking to add personal touches and value. The unit is in fair condition and priced to sell. Enjoy low-maintenance living in a prime location with strong growth potential. Sold As-Is, no seller disclosures.

17. 2026-02-09
    historical
18. 2025-07-01
    listed $179,999 New
19. 2025-07-01
    historical
20. 2025-06-30
    historical
21. 2025-04-16
    price $179,999
22. 2025-04-16
    price $179,999
23. 2024-09-19
    listed $199,999 Active
24. 2024-09-17
    historical
25. 2024-09-17
    listed $199,999 New
26. 2007-06-29
    soldstatus $161,200
27. 2007-01-12
    listed $167,400

ⓘ 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: $892 · $74/mo
• Projected year-2 tax: $1,471 · $123/mo
• Expected delta: +$579/yr (+$48/mo · 64.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $18,895
• − Mortgage interest: −$8,957
• − Property taxes: −$892
• − Insurance: −$800
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − HOA: −$1,836
• − Depreciation: −$4,652
• Taxable loss: −$1,264
• Est. tax savings @ 24.0%: +$303
• After-tax cash flow: $1,640/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): 10,913
• Household income: $84,960
• Rent vs Own: 59.3% rent · 40.7% own
• Severe rent burden: 572.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 41% White 34% Asian 15% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Italian 3% Romanian 1% Serbian 1%
• Foreign-born: 12% · Canada, South Korea, China
• Languages at home: 79% English-only · Other Indo-European 6% Spanish 4% Other Asian/Pacific 4%

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: ▼ -1.06%
• Current HPI: 135.6399
• Rent YoY: ▲ 4.46%
• 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

-4.5% since first listed

15 events — show timeline

• 2026-06-16 Price Changed $159,900 FMLS
• 2026-06-16 Price Changed $159,900 GAMLS
• 2026-05-08 Listed $169,900 FMLS
• 2026-05-08 Listed $169,900 GAMLS
• 2026-02-09 Listing Removed — GAMLS
• 2025-07-01 Listing Removed — FMLS
• 2025-07-01 Listed $179,999 GAMLS
• 2025-06-30 Listing Removed — GAMLS
• 2025-04-16 Price Changed $179,999 FMLS
• 2025-04-16 Price Changed $179,999 GAMLS
• 2024-09-19 Listed $199,999 FMLS
• 2024-09-17 Coming Soon — FMLS
• 2024-09-17 Listed $199,999 GAMLS
• 2007-06-29 Sold (MLS) $161,200 FMLS
• 2007-01-12 Listed $167,400 FMLS

Property tax history

-2.9%/yr

Latest (2025): $892 · -7.7% YoY. Source: county tax records.