3607 Ginnis Dr SW #3 · Atlanta, GA 30331

$99,500

2 bd · 2.5 ba · 1,224 sqft · Condo public records · 42 Days on market

Built 2004 $81/sqft · 31% below area Est $145k · 31% under $265/mo HOA · 16% of rent ↓ 20% 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 +27.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• 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

First Time buyers, Investors and Co-Living Roommates, Can Afford These 2 Adorable Townhomes. Unit #2 & Unit #3 Sold Separately or Buy Both, ARE AVAILABLE! 2 Bedrooms. 2.5 Baths. Open Views to your Cozy Great Room with a Fireplace. Separate Living Room. Both Spacious Bedrooms Include Your Very Own En-suite Bathroom. Double Vanity. Half Bath on the Main Level is Convenient for Your Guests. Upgraded LVP Flooring. Relax on Your Private Back Patio for Entertaining. NO RENTAL RESTRICTIONS. Bus Transportation Right Outside. Quiet Area. Near Restaurants, Shopping and Minutes from the Atlanta Hartsfield Jackson Airport.

Key facts

• Double vanity
• Open views
• Half bath

Tags

• OPEN VIEWS
• COZY GREAT ROOM
• SEPARATE LIVING ROOM
• EN-SUITE BATHROOM
• DOUBLE VANITY
• HALF BATH

Property features AI

Finance

• Other: Property condition: resale
• HOA & community: Monthly association fee ($265); Community has homeowners association; 1 unit in the community

Exterior

• Parking: Level driveway; Open parking available
• Utilities: Public water; Public sewer; Electricity available
• Home design: Two levels; Brick-front construction; Condominium ownership
• Construction: Brick front exterior; Composition shingle roof
• Exterior features: Covered front porch and patio; Patio; Resale condominium; Asphalt road access on a city street; Located near public transport, schools, shopping, restaurants and street lights

Interior

• Kitchen: Pantry; Stained cabinets; Kitchen open to family room / view to family room; Electric cooktop, electric oven/range, refrigerator
• Bedrooms: Upper-level bedrooms include a double master layout and roommate floor plan (2 bedrooms on upper level)
• Flooring: Carpet; Luxury vinyl
• Bathrooms: Two full bathrooms and one half bathroom; Master bath with double vanity and tub/shower combo; One half bath on main level; two full baths on upper level
• Heating & cooling: Central heat; Central air conditioning
• Interior features: One electric fireplace in the living room; Double vanity in master bathroom; 2+ common walls (attached unit)
• Laundry & utility: Upper-level laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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: Miles Elementary School (math 17% / reading 12%, grade F, #996 of 1,228 statewide, top 83%, 516 students, 100% FRL); John Lewis Invictus Academy (math 2% / reading 2%, grade F, #470 of 470 statewide, top 100%, 825 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 rising (+2.6%/yr); 483 active listings in the ZIP; 28 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 31% of the median local income ($63k/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 $688 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 + 2.6% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $96,515 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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: 1.62% ✓
• Cap rate: 9.65%
• Cash-on-cash: 12.00%
• DSCR: 1.53
• GRM: 5.1

CMA / ARV

• ARV (median comp): $144,843
• List price: $99,500
• Delta: -31.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.04×
• Total profit: $1,241
• Equity at exit: $14,836

10-year hold

• IRR: 10.5%
• Equity multiple: 1.80×
• Total profit: $22,365
• Equity at exit: $8,603

Cash invested: $27,860 (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 30331

• Home prices YoY: -34.2%
• Rents YoY: 2.6%
• Active inventory: 483
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,612 high
• Mortgage (P&I): −$522
• Tax from tax record: −$166 /mo · $1,996/yr
• Insurance: −$41
• HOA: −$265
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $279

Break-even live

Break-even rent $1,259

Max offer price $99,500

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3606 Ginnis Dr SW #8 Atlanta, GA	2.0	2.5	1224	$1,411	$1.15	7d	1	0.03mi
3691 Manor Ct SW Atlanta, GA	2.0	2.0	944	$1,500	$1.59	24d	1	0.06mi
751 Fairburn Rd SW Atlanta, GA	1.0–3.0	1.0–2.0	1162	$1,766	$1.52	3d	32	0.22mi
3616 Utoy Dr SW Atlanta, GA	3.0	3.5	1496	$1,950	$1.30	43d	1	0.51mi
3820 Old Cascade Rd SW Atlanta, GA	2.0	1.0	759	$1,099	$1.45	1d	1	0.62mi
415 Fairburn Rd SW Atlanta, GA	1.0–3.0	1.0–2.0	890	$1,258	$1.41	1d	31	0.78mi
1212 Utoy Springs Rd SW #38 Atlanta, GA	2.0	1.0	875	$1,400	$1.60	17d	1	0.81mi
648 Providence Pl SW #37 Atlanta, GA	3.0	3.5	1416	$2,195	$1.55	24d	1	0.84mi
513 Constellation Overlook SW Atlanta, GA	3.0	2.5	1446	$2,300	$1.59	24d	1	0.87mi
722 Crestwell Cir #722 Atlanta, GA	2.0	3.0	1440	$2,279	$1.58	20d	1	1.03mi
708 Crestwell Cir SW Atlanta, GA	2.0	2.5	1236	$1,645	$1.33	24d	1	1.04mi
871 Laurelmont Dr SW Atlanta, GA	3.0	2.0	1210	$2,000	$1.65	24d	1	1.06mi
887 Ambient Way SW Atlanta, GA	2.0	2.5	1344	$2,250	$1.67	24d	1	1.08mi
897 Ambient Way SW Atlanta, GA	2.0	2.5	1500	$2,155	$1.44	24d	1	1.08mi
4341 Cascade Rd SW Atlanta, GA	1.0–3.0	1.0–2.0	959	$1,340	$1.40	43d	1	1.09mi
841 Ambient Way SW Atlanta, GA	2.0	2.5	1344	$1,895	$1.41	16d	1	1.11mi
1371 Kimberly Way SW Atlanta, GA	1.0–3.0	1.0–2.0	1007	$1,142	$1.13	2d	21	1.13mi
832 Ambient Way SW Atlanta, GA	2.0	2.5	1500	$2,250	$1.50	24d	1	1.13mi
4355 Cascade Rd SW Atlanta, GA	2.0	2.0	1152	$1,190	$1.03	1d	7	1.16mi
4375 Cascade Rd Unit n186 Atlanta, GA	2.0	1.0	805	$1,100	$1.37	15d	1	1.27mi
4375 Cascade Rd Unit n184 Atlanta, GA	2.0	1.0	805	$1,150	$1.43	24d	1	1.27mi
4375 Cascade Rd Apt B12 Atlanta, GA	3.0	2.0	1017	$1,295	$1.27	24d	1	1.27mi
4375 Cascade Rd Unit r239 Atlanta, GA	3.0	2.0	1017	$1,395	$1.37	24d	1	1.27mi
4375 Cascade Rd Apt N181 Atlanta, GA	2.0	1.0	805	$1,100	$1.37	5d	1	1.27mi
4375 Cascade Rd Unit l155 Atlanta, GA	2.0	1.0	805	$1,025	$1.27	16d	1	1.27mi
3440 Boulder Park Dr SW Atlanta, GA	2.0	1.0	800	$1,050	$1.31	10d	3	1.35mi
3915 Basil Way SW Atlanta, GA	3.0	2.0	1287	$2,600	$2.02	24d	1	1.42mi
294 Brownlee Rd SW Atlanta, GA	2.0	1.5	950	$1,050	$1.11	16d	2	1.45mi

HOA detail condo

• Monthly dues: $265 · $3,180/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $99,500 Active 42 DOM
2. 2026-06-17
   days on market $99,500 Active 41 DOM
3. 2026-06-16
   days on market $99,500 Active 40 DOM
4. 2026-06-15
   days on market $99,500 Active 39 DOM
5. 2026-06-13
   days on market $99,500 Active 37 DOM
6. 2026-06-13
   days on market $99,500 Active 36 DOM
7. 2026-06-09
   days on market $99,500 Active 33 DOM
8. 2026-06-08
   days on market $99,500 Active 32 DOM
9. 2026-06-07
   days on market $99,500 Active 31 DOM
10. 2026-06-04
    days on market $99,500 Active 28 DOM
11. 2026-06-03
    days on market $99,500 Active 27 DOM
12. 2026-06-02
    days on market $99,500 Active 26 DOM
13. 2026-06-01
    days on market $99,500 Active 25 DOM
14. 2026-05-31
    days on market $99,500 Active 24 DOM
15. 2026-05-07
    listed $99,500 New 622-char remark

    Show marketing remark (622 chars)

    First Time buyers, Investors and Co-Living Roommates, Can Afford These 2 Adorable Townhomes. Unit #2 & Unit #3 Sold Separately or Buy Both, ARE AVAILABLE! 2 Bedrooms. 2.5 Baths. Open Views to your Cozy Great Room with a Fireplace. Separate Living Room. Both Spacious Bedrooms Include Your Very Own En-suite Bathroom. Double Vanity. Half Bath on the Main Level is Convenient for Your Guests. Upgraded LVP Flooring. Relax on Your Private Back Patio for Entertaining. NO RENTAL RESTRICTIONS. Bus Transportation Right Outside. Quiet Area. Near Restaurants, Shopping and Minutes from the Atlanta Hartsfield Jackson Airport.

16. 2026-05-07
    listed $99,500 Active 622-char remark

    Show marketing remark (622 chars)

    First Time buyers, Investors and Co-Living Roommates, Can Afford These 2 Adorable Townhomes. Unit #2 & Unit #3 Sold Separately or Buy Both, ARE AVAILABLE! 2 Bedrooms. 2.5 Baths. Open Views to your Cozy Great Room with a Fireplace. Separate Living Room. Both Spacious Bedrooms Include Your Very Own En-suite Bathroom. Double Vanity. Half Bath on the Main Level is Convenient for Your Guests. Upgraded LVP Flooring. Relax on Your Private Back Patio for Entertaining. NO RENTAL RESTRICTIONS. Bus Transportation Right Outside. Quiet Area. Near Restaurants, Shopping and Minutes from the Atlanta Hartsfield Jackson Airport.

17. 2026-04-30
    historical
18. 2026-03-02
    price $99,500
19. 2025-10-03
    price $114,500
20. 2025-09-08
    listed $124,500 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: $1,996 · $166/mo
• Projected year-2 tax: $1,996 · $166/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $19,341
• − Mortgage interest: −$5,574
• − Property taxes: −$1,996
• − Insurance: −$498
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − HOA: −$3,180
• − Depreciation: −$2,895
• Taxable income: $2,104
• Est. tax owed @ 24.0%: −$505
• After-tax cash flow: $2,839/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): 62,567
• Household income: $62,623
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 3748.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Hispanic 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -106.38%
• Current HPI: 204.5402
• Rent YoY: ▲ 2.63%
• 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

-20.1% since first listed

6 events — show timeline

• 2026-05-07 Listed $99,500 FMLS
• 2026-05-07 Listed $99,500 GAMLS
• 2026-04-30 Listing Removed — GAMLS
• 2026-03-02 Price Changed $99,500 GAMLS
• 2025-10-03 Price Changed $114,500 GAMLS
• 2025-09-08 Listed $124,500 GAMLS

Property tax history

+0.1%/yr

Latest (2025): $1,996 · -31.9% YoY. Source: county tax records.