104 Willis Mills Rd · Atlanta, GA 30311

$178,900

2 bd · 1.5 ba · 1,274 sqft · SingleFamily public records · 32 Days on market

Built 1955 0.32 ac lot Est $223k · 20% 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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +4.5/10.0
• Livability +4.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 bedroom, 1.5 bathroom all brick home on a .32-acre lot, on a full unfinished basement. This home also features a 2-year-old roof and gutters, new HVAC, and new hot water heater. Being conveniently located just minutes from interstate I-20, a Marta station, shopping, dining, and parks, makes this home a smart choice for a savvy buyer or investor. Bring your concepts, ideas, and vision to life on this blank canvas that's ready to be transformed into your masterpiece. This home is priced to sell fast, and won't last long given its upside and potential.

Key facts

• 2 year old roof
• New hot water
• New hvac

Tags

• FULL UNFINISHED BASEMENT
• 2 YEAR OLD ROOF
• NEW HVAC
• NEW HOT WATER

Property features AI

Finance

• Other: Directions: use GPS for directions; Paved road frontage on a city street; County: Fulton, GA
• HOA & community: Community features include a park and other amenities

Exterior

• Parking: Total of 2 parking spaces; One carport space; Carport
• Utilities: Public water; Public sewer
• Home design: One level; Fee simple ownership; Resale property; EarthCraft Home verification
• Construction: Brick construction; Composition/shingle roof; Block foundation; Body type: other
• Exterior features: Private yard; Back yard fencing; Enclosed front porch

Interior

• Kitchen: Electric range; Refrigerator; No specific kitchen features listed
• Bedrooms: Two upper-level bedrooms; Roommate floor plan
• Flooring: Ceramic tile; Hardwood
• Bathrooms: One full bathroom; One half bathroom; One upper-level full bathroom; One upper-level half bathroom; Master bathroom: none listed
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No shared/common walls; Full basement; Other interior features
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/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 $169k (5.4% below list).
• Recommended offer: $169k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 8.2% 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.

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: Peyton Forest Elementary School (math 5% / reading 15%, grade F, #1,076 of 1,228 statewide, top 89%, 386 students, 100% FRL); Jean Childs Young Middle School (math 2% / reading 12%, grade F, #449 of 470 statewide, top 97%, 747 students, 100% FRL); Benjamin E. Mays High School (math 22% / reading 15%, grade F, #254 of 424 statewide, top 61%, 1,337 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 12% at this address vs 32% district-wide (-20 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 soft (-0.2%/yr); 245 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).
• This rent runs 40% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 32 days — a 3% lower offer ($174k) 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 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,234 (5.4% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.95% ✗
• Cap rate: 8.18%
• Cash-on-cash: 6.72%
• DSCR: 1.30
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $222,950
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2280 Larchwood Rd SW	0.34mi	3/2.0 (+1)	1,288 (+1%)	1mo	$225,000	$175	74
102 Dahlia Ave NW	0.43mi	3/2.0 (+1)	1,200 (-6%)	6mo	$244,000	$203	58
2481 Harvel Dr NW	0.67mi	3/1.0 (+1)	1,250 (-2%)	1mo	$145,000	$116	57
2274 Larchwood Rd SW	0.35mi	3/1.0 (+1)	1,152 (-10%)	7mo	$70,000	$61	55
2068 Verbena St NW	0.74mi	3/2.0 (+1)	1,258 (-1%)	8mo	$238,900	$190	50
2576 Godfrey Dr NW	0.70mi	3/1.0 (+1)	1,295 (+2%)	10mo	$140,000	$108	49
305 Henry Aaron Ave SW	0.56mi	3/2.0 (+1)	1,144 (-10%)	6mo	$320,000	$280	45
88 Hollis Ter NW	0.69mi	3/1.5 (+1)	1,394 (+9%)	6mo	$115,000	$82	42
346 Henry Aaron Ave SW	0.61mi	3/1.0 (+1)	1,108 (-13%)	7mo	$149,000	$134	37
354 Henry Aaron Ave SW	0.63mi	3/2.0 (+1)	1,113 (-13%)	8mo	$199,000	$179	36
2081 Verbena St NW	0.73mi	3/2.0 (+1)	1,100 (-14%)	8mo	$215,000	$195	30
2548 Loghaven Dr NW	0.72mi	3/2.0 (+1)	1,464 (+15%)	7mo	$248,000	$169	28

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.68×
• Total profit: $-16,156
• Equity at exit: $26,675

10-year hold

• IRR: -3.6%
• Equity multiple: 0.79×
• Total profit: $-10,561
• Equity at exit: $15,468

Cash invested: $50,092 (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 30311

• Home prices YoY: -33.3%
• Rents YoY: -0.2%
• Active inventory: 245
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,692 high
• Mortgage (P&I): −$938
• Tax from tax record: −$44 /mo · $522/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $281

Break-even live

Break-even rent $1,337

Max offer price $178,900

Occupancy floor 78%

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: $44,725
• Closing costs: $5,367
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
269 Florida Ave SW Atlanta, GA	3.0	1.0	925	$1,850	$2.00	24d	1	0.19mi
2423 M.L.K. Jr Dr SW Atlanta, GA	1.0–3.0	1.0–2.0	1120	$1,356	$1.21	2d	19	0.25mi
2227 Telhurst St SW Atlanta, GA	2.0	2.0	928	$1,395	$1.50	14d	1	0.28mi
2227 Telhurst St SW Atlanta, GA	2.0	2.0	928	$1,395	$1.50	4d	1	0.28mi
324 Brooks Ave SW Unit A Atlanta, GA	2.0	1.0	1176	$1,000	$0.85	24d	1	0.48mi
324 Brooks Ave SW Unit B Atlanta, GA	2.0	1.0	1176	$1,050	$0.89	24d	1	0.48mi
100 Peyton Pl SW Atlanta, GA	1.0–3.0	1.0–2.0	1040	$1,574	$1.51	2d	26	0.50mi
364 Brooks Ave SW Atlanta, GA	3.0	2.0	1134	$1,495	$1.32	7d	1	0.52mi
316 Henry Aaron Ave SW Atlanta, GA	3.0	2.0	1740	$1,580	$0.91	24d	1	0.55mi
139 Peyton Pl SW Atlanta, GA	2.0	1.5	1008	$1,150	$1.14	24d	1	0.64mi
139 Peyton Pl SW Atlanta, GA	2.0	2.0	1008	$1,150	$1.14	5d	1	0.64mi
2506 Godfrey Dr NW Atlanta, GA	1.0	1.0	1344	$650	$0.48	24d	1	0.67mi
2590 Godfrey Dr NW Atlanta, GA	3.0	2.0	1308	$1,995	$1.53	16d	1	0.74mi
273 Wadley St NW Atlanta, GA	3.0	2.0	1406	$1,990	$1.42	24d	1	0.78mi
2199 Tiger Flowers Dr NW Atlanta, GA	3.0	1.0	936	$1,325	$1.42	24d	1	0.85mi
460 Peyton Rd SW Unit B Atlanta, GA	2.0	2.0	1500	$2,000	$1.33	24d	1	0.87mi
2557 Hightower Ct NW Atlanta, GA	1.0	1.0	1000	$650	$0.65	24d	1	0.88mi
995 Fleetwood Cir SW Atlanta, GA	3.0	2.0	1611	$2,400	$1.49	24d	1	0.97mi
2135 Bollingbrook Dr SW Atlanta, GA	1.0	1.0	1200	$500	$0.42	24d	1	1.07mi
2875 Hedgewood Dr NW Atlanta, GA	3.0	2.0	1100	$1,700	$1.55	16d	1	1.07mi
2507 Dale Creek Dr NW Atlanta, GA	3.0	1.0	1795	$1,900	$1.06	24d	1	1.10mi
2225 Beecher Cir SW Atlanta, GA	1.0	1.5	1826	$865	$0.47	7d	1	1.11mi
1839 Penelope Rd NW Atlanta, GA	3.0	1.0	988	$1,400	$1.42	24d	1	1.11mi
2705 Lincoln Ct NW Atlanta, GA	3.0	2.0	1134	$2,050	$1.81	18d	1	1.26mi
0 W Lake Ave NW Atlanta, GA	3.0	2.5	1300	$1,900	$1.46	2d	1	1.28mi
2111 Martin Luther King Junior Dr NW Atlanta, GA	3.0	1.0	1470	$1,800	$1.22	24d	1	1.28mi
1824 Tiger Flowers Dr NW Atlanta, GA	1.0	1.0	1400	$925	$0.66	24d	1	1.29mi
2740 Santa Barbara Dr NW Atlanta, GA	1.0	1.0	1850	$515	$0.28	24d	1	1.29mi
2662 Hood Ave NW Atlanta, GA	3.0	2.0	1450	$2,000	$1.38	24d	1	1.32mi
1951 Handley Ave SW Atlanta, GA	3.0	3.0	1589	$3,200	$2.01	24d	1	1.33mi
1916 Joseph E. Boone Blvd NW Unit A Atlanta, GA	3.0	1.0	1100	$1,550	$1.41	20d	1	1.33mi
1916 Joseph E. Boone Blvd NW Unit B Atlanta, GA	2.0	1.0	1000	$1,195	$1.20	24d	1	1.33mi
2732 Baker Ridge Dr NW Atlanta, GA	3.0	1.5	1322	$1,750	$1.32	24d	1	1.39mi
556 Church St NW Atlanta, GA	2.0	2.0	1432	$2,200	$1.54	7d	1	1.40mi
1770 Springview Rd NW Atlanta, GA	3.0	2.0	1262	$2,000	$1.58	24d	1	1.41mi
2324 Highview Rd SW Unit A Atlanta, GA	2.0	1.5	1200	$2,000	$1.67	24d	1	1.43mi
176 Racine St SW Atlanta, GA	3.0	2.0	1423	$2,800	$1.97	24d	1	1.43mi
1948 Detroit Ave NW Unit A Atlanta, GA	3.0	2.5	1205	$1,900	$1.58	24d	1	1.45mi
240 Whitaker Cir NW Atlanta, GA	1.0	1.0	1414	$685	$0.48	18d	1	1.46mi
240 Whitaker Cir NW Atlanta, GA	1.0	1.0	1414	$665	$0.47	5d	1	1.46mi

Listing history 17 events

1. 2026-06-18
   days on market $178,900 Active 32 DOM
2. 2026-06-17
   days on market $178,900 Active 31 DOM
3. 2026-06-16
   days on market $178,900 Active 30 DOM
4. 2026-06-15
   days on market $178,900 Active 29 DOM
5. 2026-06-13
   days on market $178,900 Active 27 DOM
6. 2026-06-13
   days on market $178,900 Active 26 DOM
7. 2026-06-09
   days on market $178,900 Active 23 DOM
8. 2026-06-08
   days on market $178,900 Active 22 DOM
9. 2026-06-07
   days on market $178,900 Active 21 DOM
10. 2026-06-04
    days on market $178,900 Active 18 DOM
11. 2026-06-03
    days on market $178,900 Active 17 DOM
12. 2026-06-02
    days on market $178,900 Active 16 DOM
13. 2026-06-02
    price $178,900 Active 15 DOM
14. 2026-06-01
    days on market $187,900 Active 15 DOM
15. 2026-05-31
    days on market $187,900 Active 14 DOM
16. 2026-05-17
    listed $187,900 New 566-char remark

    Show marketing remark (566 chars)

    Charming 2 bedroom, 1.5 bathroom all brick home on a .32-acre lot, on a full unfinished basement. This home also features a 2-year-old roof and gutters, new HVAC, and new hot water heater. Being conveniently located just minutes from interstate I-20, a Marta station, shopping, dining, and parks, makes this home a smart choice for a savvy buyer or investor. Bring your concepts, ideas, and vision to life on this blank canvas that's ready to be transformed into your masterpiece. This home is priced to sell fast, and won't last long given its upside and potential.

17. 2026-05-17
    listed $187,900 Active

    Show marketing remark (566 chars)

    Charming 2 bedroom, 1.5 bathroom all brick home on a .32-acre lot, on a full unfinished basement. This home also features a 2-year-old roof and gutters, new HVAC, and new hot water heater. Being conveniently located just minutes from interstate I-20, a Marta station, shopping, dining, and parks, makes this home a smart choice for a savvy buyer or investor. Bring your concepts, ideas, and vision to life on this blank canvas that's ready to be transformed into your masterpiece. This home is priced to sell fast, and won't last long given its upside and potential.

ⓘ 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: $522 · $44/mo
• Projected year-2 tax: $1,646 · $137/mo
• Expected delta: +$1,123/yr (+$94/mo · 215.0%)

ⓘ 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 ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,308
• − Mortgage interest: −$10,021
• − Property taxes: −$522
• − Insurance: −$894
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$5,204
• Taxable income: $416
• Est. tax owed @ 24.0%: −$100
• After-tax cash flow: $3,268/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): 34,953
• Household income: $50,649
• Rent vs Own: 57.1% rent · 42.9% own
• Severe rent burden: 2825.0

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 (89%)
• Race & ethnicity: Black 89% Hispanic / Latino 4% Two or more races 4% White 3%
• Common ancestry: Hispanic 1%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 3% French/Haitian/Cajun 1% Korean 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: ▼ -129.99%
• Current HPI: 259.954
• Rent YoY: ▼ -0.19%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-17 Listed $187,900 FMLS
• 2026-05-17 Listed $187,900 GAMLS

Property tax history

+15.8%/yr

Latest (2025): $522 · +85.5% YoY. Source: county tax records.