4701 Flat Shoals Rd Unit 2B · Union City, GA 30291

$57,500

2 bd · 1.5 ba · 990 sqft · Condo public records · 52 Days on market

Built 1972 $293/mo HOA · 19% of rent

---

Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0

Listing remarks

Great Fixer upper deal! Spacious 2 Bedroom 1.5 bathroom one story condo. Large family room that opens to kitchen area. Vaulted ceilings throughout. A great fit for seniors or handicap individuals. Cash offers only! No blind offers! This home is priced thousands below other comparable condos in this community.

Key facts

• $293 HOA
• Built 1972
• Listed 51 days

Property features AI

Finance

• Other: Road access via paved concrete county road; located inside a gated community
• Financial info: Community contains a single unit (this unit is part of a one-unit community)
• HOA & community: Monthly association fee; Association fee covers insurance, grounds maintenance, structure maintenance, reserve fund, security, sewer and water; Community features: homeowners association, near public transport, near schools, near shopping, sidewalks

Exterior

• Parking: Parking lot
• Security: Community security included in association
• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Condominium; One-level property; Composition roof; Entry facing inside gated community
• Construction: Slab foundation; Other construction materials; Property listed as fixer
• Exterior features: Private courtyard; Private entrance; Private yard; Patio; Wood fencing; Accessible entrance

Interior

• Kitchen: Breakfast nook; Cabinets (other style); Pantry; Open view to family room; Electric range; Refrigerator
• Bedrooms: Master bedroom on main level; Two main-level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom; One half bathroom; Master bath with tub/shower combo
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: 9-foot ceilings in upper areas; Vaulted ceilings; High-speed internet available; Double-pane windows; Window treatments; One shared common wall
• Laundry & utility: Laundry area in kitchen; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $58k.

Deal economics

• At list price, monthly cash flow is $502 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $58k).
• Recommended offer: $56k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.8% vs local median 5.4% in Union City — 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 58/100 on livability (#443 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Fulton County (suburban): math 49% / reading 53% proficiency, ranked #12 of 174 in GA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gullatt Elementary School (math 12% / reading 17%, grade F, #996 of 1,228 statewide, top 83%, 747 students, 100% FRL); Camp Creek Middle School (math 17% / reading 32%, grade F, #301 of 470 statewide, top 66%, 644 students, 100% FRL); Langston Hughes High School (math 8% / reading 17%, grade F, #336 of 424 statewide, top 80%, 1,964 students, 65% FRL) — zoned schools average 88% FRL vs 41% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 51% district-wide (-34 pts) — the specific schools serving this property underperform the Fulton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.2%/yr); 174 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($398 loan paydown + $6k appreciation (10.0% local appreciation)).
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 2.2% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $42k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,775 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 2.63% ✓
• Cap rate: 16.77%
• Cash-on-cash: 37.43%
• DSCR: 2.67
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.2% rent growth · sell at horizon

5-year hold

• IRR: 52.5%
• Equity multiple: 4.87×
• Total profit: $62,300
• Equity at exit: $51,801

10-year hold

• IRR: 45.7%
• Equity multiple: 10.71×
• Total profit: $156,340
• Equity at exit: $111,710

Cash invested: $16,100 (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 30291

• Home prices YoY: 11.1%
• Rents YoY: 2.2%
• Active inventory: 174
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,515 high
• Mortgage (P&I): −$302
• Tax from tax record: −$76 /mo · $914/yr
• Insurance: −$24
• HOA: −$293
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $502

Break-even live

Break-even rent $879

Max offer price $57,500

Occupancy floor 62%

Sensitivity live

Price	-10% $535	-5% $519	+0% $502	+5% $486	+10% $470
Rent	-10% $383	-5% $442	+0% $502	+5% $562	+10% $622
Rate	-1.0pp $531	-0.5pp $517	base $502	+0.5pp $487	+1.0pp $472

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: $14,375
• Closing costs: $1,725
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6305 Shannon Pkwy Apt 101 Union City, GA	2.0	1.0	676	$1,650	$2.44	45d	1	0.18mi
6305 Shannon Pkwy Union City, GA	2.0	1.0	676	$2,150	$3.18	26d	1	0.19mi
4483 Flat Shoals Rd Union City, GA	1.0–2.0	1.0–2.5	957	$1,495	$1.56	45d	1	0.47mi
6822 Shannon Pkwy Union City, GA	1.0–2.0	1.0–2.0	868	$1,515	$1.75	0d	4	0.63mi
6425 Oakley Rd Union City, GA	1.0–3.0	1.0–2.0	1037	$1,326	$1.28	0d	17	0.76mi
6350 Oakley Rd Union City, GA	2.0–3.0	1.0–2.5	1360	$1,397	$1.03	0d	5	0.81mi
6341 Raymond Ter Union City, GA	2.0	1.0	798	$1,250	$1.57	7d	1	1.00mi
6410 Raymond Ter Union City, GA	2.0	1.0	783	$1,000	$1.28	45d	1	1.04mi
5058 Jonesboro Rd Union City, GA	2.0	1.0–1.5	997	$1,395	$1.40	22d	1	1.13mi
5058 Jonesboro Rd Unit E37 Union City, GA	2.0	1.5	997	$1,395	$1.40	6d	1	1.13mi
6510 Lower Dixie Lake Rd Union City, GA	2.0	1.0	800	$1,050	$1.31	46d	1	1.23mi
7000 Goodson Rd #69 Union City, GA	3.0	2.0	960	$1,400	$1.46	45d	1	1.38mi

HOA detail condo

• Monthly dues: $293 · $3,516/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $57,500 Active 52 DOM
2. 2026-06-17
   days on market $57,500 Active 51 DOM
3. 2026-06-16
   days on market $57,500 Active 50 DOM
4. 2026-06-15
   days on market $57,500 Active 49 DOM
5. 2026-06-13
   days on market $57,500 Active 47 DOM
6. 2026-06-09
   days on market $57,500 Active 43 DOM
7. 2026-06-08
   days on market $57,500 Active 42 DOM
8. 2026-06-07
   days on market $57,500 Active 41 DOM
9. 2026-06-04
   days on market $57,500 Active 38 DOM
10. 2026-06-03
    days on market $57,500 Active 37 DOM
11. 2026-06-01
    days on market $57,500 Active 35 DOM
12. 2026-05-31
    days on market $57,500 Active 34 DOM
13. 2026-04-30
    price $57,500 310-char remark
14. 2026-04-23
    listed $55,000 Active 310-char remark
15. 2021-08-18
    soldstatus $42,000
16. 2003-08-25
    soldstatus $73,000
17. 2001-08-20
    soldstatus $58,000
18. 2001-04-20
    soldstatus $39,900

ⓘ 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: $914 · $76/mo
• Projected year-2 tax: $914 · $76/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $18,181
• − Mortgage interest: −$3,221
• − Property taxes: −$914
• − Insurance: −$288
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − HOA: −$3,516
• − Depreciation: −$1,673
• Taxable income: $5,661
• Est. tax owed @ 24.0%: −$1,359
• After-tax cash flow: $4,668/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: Fulton County
• NCES district ID: 1302280
• Math proficiency: 49% ▼ -2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $68,035
• Composite: 45.33/100
• National rank: #2640
• State rank: #12 of 174 in GA

Livability — Union City

• Score: 58/100
• State rank: #443
• US rank: #21281

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment F Housing A+ Health & safety F User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Union City, GA
• County: Fulton County · 1,094,430 people
• City population: 25,130
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 25,130
• Household income: $48,184
• Rent vs Own: 61.3% rent · 38.7% own
• Severe rent burden: 1778.0

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 (86%)
• Race & ethnicity: Black 86% Hispanic / Latino 7% Two or more races 6% White 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▲ 23.98%
• Current HPI: 239.3471
• Rent YoY: ▲ 2.20%
• 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

+44.1% since first listed

6 events — show timeline

• 2026-04-30 Price Changed $57,500 FMLS
• 2026-04-23 Listed $55,000 FMLS
• 2021-08-18 Sold (Public Records) $42,000 Public Records
• 2003-08-25 Sold (Public Records) $73,000 Public Records
• 2001-08-20 Sold (Public Records) $58,000 Public Records
• 2001-04-20 Sold (Public Records) $39,900 Public Records

Property tax history

+3.0%/yr

Latest (2025): $914 · +22.2% YoY. Source: county tax records.