2387 Saint James Dr NW · Atlanta, GA 30318

$89,900

5 bd · 3.0 ba · 1,870 sqft · SingleFamily public records · 61 Days on market

Built 1935 7,405 sqft lot $48/sqft · 78% below area

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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 +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime Development Opportunity in NW Atlanta! Bring your builders and visionaries to this incredible lot located at 2387 Saint James Dr NW. Situated in a rapidly transitioning area, this property is a true tear-down. Perfect for a custom new construction project or a high-end investment hold. Enjoy the benefit of an established neighborhood with easy access to West Midtown and major highways.

Key facts

• Major highways
• 7,405 sq ft lot
• Built 1935

Tags

• CUSTOM NEW CONSTRUCTION
• ESTABLISHED NEIGHBORHOOD
• EASY ACCESS TO WEST MIDTOWN
• MAJOR HIGHWAYS

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.6% 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 (+3.3%/yr); 722 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 41% of the median local income ($83k/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 $622 of loan paydown is wiped out by about $3k 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 + 3.3% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 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 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 3.16% ✓
• Cap rate: 24.56%
• Cash-on-cash: 65.25%
• DSCR: 3.90
• GRM: 2.6

CMA / ARV

• ARV (median comp): $407,540
• List price: $89,900
• Delta: -77.94%
• 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
1118 Lotus Ave NW	0.09mi	4/3.0 (-1)	1,920 (+3%)	16mo	$371,000	$193	73
2353 N Circle Dr NW	0.11mi	4/3.0 (-1)	1,920 (+3%)	16mo	$385,000	$201	72
1040 Ada Ave NW	0.20mi	4/2.5 (-1)	1,966 (+5%)	17mo	$399,900	$203	61
844 Ridge Ave NW	0.57mi	4/2.5 (-1)	1,887 (+1%)	15mo	$375,000	$199	53
864 Capitol View Ave NW	0.53mi	4/2.5 (-1)	1,760 (-6%)	8mo	$201,000	$114	52
1070 4th St NW	0.29mi	4/2.0 (-1)	2,132 (+14%)	4mo	$296,000	$139	50
2548 Bellview Ave NW	0.72mi	4/2.5 (-1)	1,792 (-4%)	6mo	$200,000	$112	48
28 Johnson Rd NW	0.72mi	5/4.0	1,844 (-1%)	18mo	$459,900	$249	45
30 Johnson Rd NW	0.72mi	4/3.0 (-1)	1,739 (-7%)	7mo	$340,000	$196	44
2542 Etheridge Dr NW	0.32mi	5/3.0	1,592 (-15%)	21mo	$292,500	$184	42
898 Center Hill Ave NW	0.44mi	4/3.0 (-1)	2,132 (+14%)	14mo	$350,000	$164	39
2709 Creek View Ter NW	0.74mi	4/3.5 (-1)	2,129 (+14%)	12mo	$425,000	$200	26

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 · 3.26% rent growth · sell at horizon

5-year hold

• IRR: 64.8%
• Equity multiple: 3.92×
• Total profit: $73,553
• Equity at exit: $13,404

10-year hold

• IRR: 69.3%
• Equity multiple: 8.16×
• Total profit: $180,187
• Equity at exit: $7,773

Cash invested: $25,172 (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 30318

• Rents YoY: 3.3%
• Active inventory: 722
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $2,842 high
• Mortgage (P&I): −$471
• Tax from tax record: −$367 /mo · $4,407/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $1,369

Break-even live

Break-even rent $1,109

Max offer price $89,900

Occupancy floor 47%

Sensitivity live

Price	-10% $1,686	-5% $1,655	+0% $1,369	+5% $1,343	+10% $1,318
Rent	-10% $1,144	-5% $1,256	+0% $1,369	+5% $1,481	+10% $1,593
Rate	-1.0pp $1,414	-0.5pp $1,392	base $1,369	+0.5pp $1,345	+1.0pp $1,322

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1127 2nd NW Atlanta, GA	4.0	2.5	2000	$3,240	$1.62	15d	1	0.11mi
1127 2nd NW Atlanta, GA	4.0	2.5	2000	$3,240	$1.62	25d	1	0.11mi
2367 Summit Ave NW Atlanta, GA	4.0	2.5	1887	$2,800	$1.48	2d	1	0.14mi
2456 Spring St NW Apt A Atlanta, GA	4.0	2.5	1650	$1,450	$0.88	25d	1	0.18mi
991 Ada Ave NW Atlanta, GA	4.0	2.0	1458	$2,450	$1.68	25d	1	0.31mi
1080 Gun Club Rd NW Atlanta, GA	5.0	3.0	2418	$2,423	$1.00	25d	1	0.52mi
38 Hollywood Dr NW Atlanta, GA	4.0	2.0	1400	$2,200	$1.57	25d	1	0.53mi
854 N Grand Ave NW Atlanta, GA	4.0	2.5	1436	$1,824	$1.27	25d	1	0.56mi
841 Ridge Ave NW Atlanta, GA	5.0	3.0	2196	$2,423	$1.10	21d	1	0.57mi
1120 Wedgewood Dr NW Atlanta, GA	4.0	2.5	1904	$3,100	$1.63	8d	1	0.58mi
2045 Lois Pl NW Unit A Atlanta, GA	5.0	3.0	1344	$3,450	$2.57	19d	1	0.66mi
753 Prince Pl NW Atlanta, GA	4.0	2.0	1785	$2,200	$1.23	25d	1	0.69mi
751 Prince Pl NW Atlanta, GA	4.0	2.0	1785	$2,200	$1.23	25d	1	0.70mi
1445 Creekside Cir NW Atlanta, GA	4.0	3.5	2425	$6,500	$2.68	6d	1	0.70mi
1445 Creekside Cir NW Atlanta, GA	4.0	3.5	2425	$6,500	$2.68	4d	1	0.70mi
739 Prince Pl NW Atlanta, GA	4.0	2.0	1903	$2,200	$1.16	25d	1	0.72mi
740 Prince Pl NW Atlanta, GA	4.0	2.0	1903	$2,200	$1.16	25d	1	0.73mi
738 Prince Pl NW Atlanta, GA	4.0	2.5	1903	$2,250	$1.18	25d	1	0.73mi
2713 Creek View Ter NW Atlanta, GA	4.0	3.5	2129	$2,999	$1.41	8d	1	0.74mi
717 Church St NW Atlanta, GA	4.0	2.0	1328	$2,000	$1.51	25d	1	0.78mi
1955 East Ave NW Unit A Atlanta, GA	4.0	3.0	1800	$1,990	$1.11	15d	1	0.80mi
1026 Sims Ave NW Unit B Atlanta, GA	4.0	3.0	1492	$2,842	$1.90	25d	1	0.80mi
903 Proctor Ranch Dr Unit 903 Atlanta, GA	4.0	3.5	2470	$2,800	$1.13	13d	1	0.91mi
971 Colquitt Pl NW Unit A Atlanta, GA	4.0	3.0	1750	$800	$0.46	25d	1	0.95mi
24 S Eugenia Pl NW Atlanta, GA	4.0	2.5	1410	$1,725	$1.22	25d	1	1.07mi
562 Gary Rd NW Atlanta, GA	4.0	2.0	1700	$2,400	$1.41	25d	1	1.10mi
1647 Bridgeport Dr NW Atlanta, GA	4.0	2.0	1250	$2,100	$1.68	4d	1	1.14mi
2711 Stream Valley Ln NW Atlanta, GA	4.0	3.5	2445	$3,200	$1.31	8d	1	1.15mi
1725 Church St NW Atlanta, GA	4.0	2.0	1274	$2,053	$1.61	21d	1	1.18mi
1409 Northwest Dr NW Unit 1 Atlanta, GA	4.0	2.5	2500	$2,599	$1.04	3d	1	1.18mi
1409 Northwest Dr NW Atlanta, GA	4.0	2.5	2000	$2,998	$1.50	25d	1	1.18mi
7 Edwin Pl NW Atlanta, GA	4.0	2.5	2600	$2,350	$0.90	6d	1	1.21mi
438 Hamilton E Holmes Dr NW Atlanta, GA	4.0	3.0	2200	$5,500	$2.50	25d	1	1.30mi

Listing history 24 events

1. 2026-06-18
   days on market $89,900 Active 61 DOM
2. 2026-06-17
   pricedays on market $89,900 Active 60 DOM
3. 2026-06-16
   days on market $104,900 Active 59 DOM
4. 2026-06-15
   days on market $104,900 Active 58 DOM
5. 2026-06-13
   days on market $104,900 Active 56 DOM
6. 2026-06-13
   days on market $104,900 Active 55 DOM
7. 2026-06-09
   days on market $104,900 Active 52 DOM
8. 2026-06-08
   days on market $104,900 Active 51 DOM
9. 2026-06-07
   days on market $104,900 Active 50 DOM
10. 2026-06-04
    days on market $104,900 Active 47 DOM
11. 2026-06-03
    days on market $104,900 Active 46 DOM
12. 2026-06-02
    days on market $104,900 Active 45 DOM
13. 2026-06-01
    days on market $104,900 Active 44 DOM
14. 2026-05-31
    days on market $104,900 Active 43 DOM
15. 2026-04-17
    listed $104,900 New 394-char remark

    Show marketing remark (394 chars)

    Prime Development Opportunity in NW Atlanta! Bring your builders and visionaries to this incredible lot located at 2387 Saint James Dr NW. Situated in a rapidly transitioning area, this property is a true tear-down. Perfect for a custom new construction project or a high-end investment hold. Enjoy the benefit of an established neighborhood with easy access to West Midtown and major highways.

16. 2026-04-17
    listed $104,900 Active 394-char remark

    Show marketing remark (394 chars)

    Prime Development Opportunity in NW Atlanta! Bring your builders and visionaries to this incredible lot located at 2387 Saint James Dr NW. Situated in a rapidly transitioning area, this property is a true tear-down. Perfect for a custom new construction project or a high-end investment hold. Enjoy the benefit of an established neighborhood with easy access to West Midtown and major highways.

17. 2025-09-25
    historical
18. 2025-09-25
    historical
19. 2025-08-19
    price $115,000
20. 2025-07-22
    listed $130,000 Active
21. 2025-07-22
    listed $130,000 New
22. 2022-04-14
    soldstatus $210,000
23. 2009-06-05
    soldstatus $135,000
24. 1980-12-12
    soldstatus $9,400

ⓘ 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: $4,407 · $367/mo
• Projected year-2 tax: $4,407 · $367/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 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: $34,099
• − Mortgage interest: −$5,036
• − Property taxes: −$4,407
• − Insurance: −$450
• − Repairs & maintenance: −$2,728
• − Management: −$2,728
• − Depreciation: −$2,615
• Taxable income: $16,136
• Est. tax owed @ 24.0%: −$3,873
• After-tax cash flow: $12,552/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): 59,609
• Household income: $83,116
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 4182.0

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 0.63)
• Race & ethnicity: Black 49% White 35% Hispanic / Latino 7% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 1%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 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: ▼ -470.82%
• Current HPI: 224.1493
• Rent YoY: ▲ 3.26%
• 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

+1016.0% since first listed

10 events — show timeline

• 2026-04-17 Listed $104,900 FMLS
• 2026-04-17 Listed $104,900 GAMLS
• 2025-09-25 Listing Removed — GAMLS
• 2025-09-25 Listing Removed — FMLS
• 2025-08-19 Price Changed $115,000 FMLS
• 2025-07-22 Listed $130,000 GAMLS
• 2025-07-22 Listed $130,000 FMLS
• 2022-04-14 Sold (Public Records) $210,000 Public Records
• 2009-06-05 Sold (Public Records) $135,000 Public Records
• 1980-12-12 Sold (Public Records) $9,400 Public Records

Property tax history

+11.8%/yr

Latest (2025): $4,407 · +4.0% YoY. Source: county tax records.