201 Natchez Trce · Sandy Springs, GA 30350

$178,000

2 bd · 1.0 ba · 1,126 sqft · Condo public records · 121 Days on market

Built 1982 $158/sqft · 13% below area Est $204k · 13% under $470/mo HOA · 28% of rent

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Why this score? — see what drove the D- 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).

• ARV discount +13.2/15.0
• Cash flow +7.1/30.0
• Schools +4.5/10.0
• 1% rule +4.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and full of potential, this 2 bedroom / 1 bathroom first-floor condo in desirable Dunwoody Lakes offers comfort, convenience, and a fantastic location. Easy, step-less access inside and out! Enter to the cozy family room that flows seamlessly into the open concept dining area, creating an inviting space perfect for everyday living and entertaining. The kitchen features abundant counter and cabinet space along with a convenient breakfast bar for casual meals. Just off the family room, the bright sunroom is surrounded by windows and provides access to the covered patio-ideal for relaxing year-round. Both bedrooms are generously sized and include walk-in closets, while the shared full hall bathroom offers a shower/tub combo. A separate laundry room adds everyday convenience. Enjoy plenty of parking in both the front and back of the building, along with community amenities including a sparkling pool and tennis courts. Ideally located with easy access to the Chattahoochee River parks, the heart of Sandy Springs and Dunwoody, plentiful shopping and dining, and GA-400.

Key facts

• First-floor condo
• Covered patio
• Bright sunroom

Tags

• FIRST-FLOOR CONDO
• EASY STEP-LESS ACCESS
• OPEN CONCEPT DINING AREA
• BREAKFAST BAR
• BRIGHT SUNROOM
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $178k.

Deal economics

• At list price, monthly cash flow is $-252 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (25.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (7.1% below list).
• Recommended offer: $133k (25.0% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 2.7% in Sandy Springs — 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 73/100 on livability (#45 in GA) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A-, commute A-; Watch: amenities F, cost of living 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.
• Market conditions: Rents soft (-0.3%/yr); 170 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 (-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 121 days — a 12% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $22k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $178k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,426 (25.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.93% ✗
• Cap rate: 4.59%
• Cash-on-cash: -6.08%
• DSCR: 0.73
• GRM: 9.0

CMA / ARV

• ARV (median comp): $203,741
• List price: $178,000
• Delta: -12.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -31.1%
• Equity multiple: 0.01×
• Total profit: $-49,535
• Equity at exit: $26,540

10-year hold

• IRR: -63.4%
• Equity multiple: -0.64×
• Total profit: $-81,639
• Equity at exit: $15,390

Cash invested: $49,840 (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 30350

• Rents YoY: -0.3%
• Active inventory: 170
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,654 high
• Mortgage (P&I): −$933
• Tax from tax record: −$81 /mo · $978/yr
• Insurance: −$74
• HOA: −$470
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $-252

Break-even live

Break-even rent $1,974

Max offer price $133,426

Occupancy floor —

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
304 Natchez Trce Atlanta, GA	2.0	1.0	1126	$1,550	$1.38	16d	1	0.03mi
304 Natchez Trce Atlanta, GA	2.0	1.0	1126	$1,550	$1.38	43d	1	0.03mi
1302 Natchez Trce Unit 1302 Atlanta, GA	2.0	1.0	1126	$1,800	$1.60	3d	1	0.04mi
1309 Natchez Trce Atlanta, GA	2.0	1.0	1126	$1,550	$1.38	43d	1	0.04mi
1302 Natchez Trce Atlanta, GA	2.0	1.0	1126	$1,800	$1.60	4d	1	0.04mi
205 Gettysburg Pl Atlanta, GA	2.0	2.0	1100	$1,650	$1.50	5d	1	0.12mi
1203 Gettysburg Pl Unit Labs Atlanta, GA	2.0	2.0	1100	$1,595	$1.45	43d	1	0.12mi
8600 Roberts Dr Atlanta, GA	1.0–2.0	1.0–2.0	1162	$1,786	$1.54	3d	10	0.24mi
8601 Roberts Dr Atlanta, GA	1.0–3.0	1.0–2.0	893	$1,480	$1.66	1d	21	0.29mi
700 Summit Place Dr Atlanta, GA	1.0–2.0	1.0–2.0	885	$1,555	$1.76	1d	20	0.36mi
8802 Long Beach Cir Atlanta, GA	3.0	2.5	1200	$4,000	$3.33	24d	1	0.40mi
100 Highland Park Trl Atlanta, GA	1.0–3.0	1.0–2.0	1171	$1,993	$1.70	3d	10	0.44mi
8800 Dunwoody Pl Atlanta, GA	1.0–2.0	1.0–2.0	972	$1,795	$1.85	1d	42	0.44mi
8805 Dunwoody Pl Atlanta, GA	1.0–3.0	1.0–2.5	1145	$1,672	$1.46	1d	33	0.54mi
550 Northridge Pkwy Atlanta, GA	1.0–2.0	1.0–2.0	1074	$2,345	$2.18	1d	42	0.57mi
501 N River Dr Atlanta, GA	1.0–3.0	1.0–2.5	1218	$1,769	$1.45	2d	29	0.66mi
100 Greyfield Ln Atlanta, GA	1.0–3.0	1.0–2.0	1116	$1,696	$1.52	5d	32	0.68mi
245 Winding River Dr Unit E Atlanta, GA	2.0	2.0	1090	$2,350	$2.16	10d	1	0.75mi
245 Winding River Dr Unit E Atlanta, GA	2.0	2.0	1090	$2,500	$2.29	22d	1	0.75mi
255 Winding River Dr Unit J Atlanta, GA	2.0	1.5	1090	$1,800	$1.65	5d	1	0.76mi
9200 Roberts Dr Atlanta, GA	1.0–3.0	1.0–2.0	1085	$1,642	$1.51	1d	12	0.76mi
265 Winding River Dr Unit A Atlanta, GA	2.0	1.5	1090	$1,800	$1.65	43d	1	0.79mi
275 Winding River Dr Unit C Atlanta, GA	2.0	2.5	1408	$2,100	$1.49	5d	1	0.80mi
330 Winding River Dr Unit C Atlanta, GA	2.0	2.5	1392	$2,150	$1.54	43d	1	0.84mi
303 River Run Dr Atlanta, GA	2.0	1.0	858	$1,399	$1.63	43d	1	0.85mi
335 Winding River Dr Unit H Atlanta, GA	2.0	2.0	1408	$1,600	$1.14	43d	1	0.89mi
9400 Roberts Dr Unit 3D Atlanta, GA	2.0	2.0	1200	$1,395	$1.16	20d	1	0.93mi
9400 Roberts Dr Sandy Springs, GA	1.0–2.0	1.0–2.0	1200	$1,395	$1.16	19d	2	0.93mi
9400 Roberts Dr Sandy Springs, GA	1.0–2.0	1.0–2.0	1200	$1,395	$1.16	24d	2	0.93mi
590 Northridge Crossing Dr Atlanta, GA	2.0	2.5	1250	$1,595	$1.28	43d	1	1.00mi
1800 Windridge Dr Sandy Springs, GA	1.0–2.0	1.0–2.0	896	$1,400	$1.56	2d	16	1.07mi
1500 Huntcliff Village Ct Atlanta, GA	1.0–3.0	1.0–2.0	1030	$2,010	$1.95	1d	25	1.07mi
8350 Roswell Rd Atlanta, GA	1.0–2.0	1.0–2.0	950	$1,569	$1.65	1d	41	1.08mi
1003 Wedgewood Way Atlanta, GA	2.0	2.5	1160	$2,000	$1.72	43d	1	1.14mi
536 Granite Ridge Pl Atlanta, GA	2.0	2.5	1252	$1,875	$1.50	43d	1	1.15mi
1306 Wedgewood Ct Atlanta, GA	2.0	2.5	1088	$2,200	$2.02	5d	1	1.21mi
2907 Queen Anne Ct Atlanta, GA	2.0	2.5	1160	$2,000	$1.72	5d	1	1.26mi
100 Chattahoochee Cir Roswell, GA	2.0–3.0	2.0–2.5	1333	$1,300	$0.98	12d	5	1.49mi

HOA detail condo

• Monthly dues: $470 · $5,640/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $178,000 Active 121 DOM
2. 2026-06-17
   days on market $178,000 Active 120 DOM
3. 2026-06-16
   days on market $178,000 Active 119 DOM
4. 2026-06-15
   days on market $178,000 Active 118 DOM
5. 2026-06-13
   days on market $178,000 Active 116 DOM
6. 2026-06-09
   days on market $178,000 Active 112 DOM
7. 2026-06-08
   days on market $178,000 Active 111 DOM
8. 2026-06-07
   days on market $178,000 Active 110 DOM
9. 2026-06-04
   days on market $178,000 Active 107 DOM
10. 2026-06-03
    days on market $178,000 Active 106 DOM
11. 2026-06-01
    days on market $178,000 Active 104 DOM
12. 2026-05-31
    days on market $178,000 Active 103 DOM
13. 2026-03-13
    price $188,000 1087-char remark

    Show marketing remark (1093 chars)

    Charming and full of potential, this 2 bedroom / 1 bathroom first-floor condo in desirable Dunwoody Lakes offers comfort, convenience, and a fantastic location. Easy, step-less access inside and out! Enter to the cozy family room that flows seamlessly into the open concept dining area, creating an inviting space perfect for everyday living and entertaining. The kitchen features abundant counter and cabinet space along with a convenient breakfast bar for casual meals. Just off the family room, the bright sunroom is surrounded by windows and provides access to the covered patio—ideal for relaxing year-round. Both bedrooms are generously sized and include walk-in closets, while the shared full hall bathroom offers a shower/tub combo. A separate laundry room adds everyday convenience. Enjoy plenty of parking in both the front and back of the building, along with community amenities including a sparkling pool and tennis courts. Ideally located with easy access to the Chattahoochee River parks, the heart of Sandy Springs and Dunwoody, plentiful shopping and dining, and GA-400.

14. 2026-03-13
    price $188,000 1093-char remark

    Show marketing remark (1093 chars)

    Charming and full of potential, this 2 bedroom / 1 bathroom first-floor condo in desirable Dunwoody Lakes offers comfort, convenience, and a fantastic location. Easy, step-less access inside and out! Enter to the cozy family room that flows seamlessly into the open concept dining area, creating an inviting space perfect for everyday living and entertaining. The kitchen features abundant counter and cabinet space along with a convenient breakfast bar for casual meals. Just off the family room, the bright sunroom is surrounded by windows and provides access to the covered patio—ideal for relaxing year-round. Both bedrooms are generously sized and include walk-in closets, while the shared full hall bathroom offers a shower/tub combo. A separate laundry room adds everyday convenience. Enjoy plenty of parking in both the front and back of the building, along with community amenities including a sparkling pool and tennis courts. Ideally located with easy access to the Chattahoochee River parks, the heart of Sandy Springs and Dunwoody, plentiful shopping and dining, and GA-400.

15. 2026-02-17
    listed $200,000 New 1087-char remark

    Show marketing remark (1093 chars)

    Charming and full of potential, this 2 bedroom / 1 bathroom first-floor condo in desirable Dunwoody Lakes offers comfort, convenience, and a fantastic location. Easy, step-less access inside and out! Enter to the cozy family room that flows seamlessly into the open concept dining area, creating an inviting space perfect for everyday living and entertaining. The kitchen features abundant counter and cabinet space along with a convenient breakfast bar for casual meals. Just off the family room, the bright sunroom is surrounded by windows and provides access to the covered patio—ideal for relaxing year-round. Both bedrooms are generously sized and include walk-in closets, while the shared full hall bathroom offers a shower/tub combo. A separate laundry room adds everyday convenience. Enjoy plenty of parking in both the front and back of the building, along with community amenities including a sparkling pool and tennis courts. Ideally located with easy access to the Chattahoochee River parks, the heart of Sandy Springs and Dunwoody, plentiful shopping and dining, and GA-400.

16. 2026-02-17
    listed $200,000 Active 1093-char remark

    Show marketing remark (1093 chars)

    Charming and full of potential, this 2 bedroom / 1 bathroom first-floor condo in desirable Dunwoody Lakes offers comfort, convenience, and a fantastic location. Easy, step-less access inside and out! Enter to the cozy family room that flows seamlessly into the open concept dining area, creating an inviting space perfect for everyday living and entertaining. The kitchen features abundant counter and cabinet space along with a convenient breakfast bar for casual meals. Just off the family room, the bright sunroom is surrounded by windows and provides access to the covered patio—ideal for relaxing year-round. Both bedrooms are generously sized and include walk-in closets, while the shared full hall bathroom offers a shower/tub combo. A separate laundry room adds everyday convenience. Enjoy plenty of parking in both the front and back of the building, along with community amenities including a sparkling pool and tennis courts. Ideally located with easy access to the Chattahoochee River parks, the heart of Sandy Springs and Dunwoody, plentiful shopping and dining, and GA-400.

17. 2005-07-11
    soldstatus $89,900
18. 2005-07-11
    soldstatus $89,900
19. 1982-07-01
    soldstatus $50,000

ⓘ 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: $978 · $81/mo
• Projected year-2 tax: $1,638 · $136/mo
• Expected delta: +$660/yr (+$55/mo · 67.5%)

ⓘ 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 5/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,850
• − Mortgage interest: −$9,971
• − Property taxes: −$978
• − Insurance: −$890
• − Repairs & maintenance: −$1,588
• − Management: −$1,588
• − HOA: −$5,640
• − Depreciation: −$5,178
• Taxable loss: −$5,983
• Est. tax savings @ 24.0%: +$1,436
• After-tax cash flow: $-1,592/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 — Sandy Springs

• Score: 73/100
• State rank: #45
• US rank: #5106

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sandy Springs, GA
• County: Fulton County · 1,094,430 people
• City population: 108,027
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 35,170
• Household income: $88,118
• Rent vs Own: 54.1% rent · 45.9% own
• Severe rent burden: 2081.0

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 0.67)
• Race & ethnicity: White 48% Black 28% Hispanic / Latino 11% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Slovak 3% Lithuanian 2% Estonian 2%
• Foreign-born: 16% · Canada, China, Vietnam
• Languages at home: 81% English-only · Spanish 7% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -180.74%
• Current HPI: 215.186
• Rent YoY: ▼ -0.26%
• 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

+276.0% since first listed

7 events — show timeline

• 2026-03-13 Price Changed $188,000 GAMLS
• 2026-03-13 Price Changed $188,000 FMLS
• 2026-02-17 Listed $200,000 FMLS
• 2026-02-17 Listed $200,000 GAMLS
• 2005-07-11 Sold (Public Records) $89,900 Public Records
• 2005-07-11 Sold (Public Records) $89,900 Public Records
• 1982-07-01 Sold (Public Records) $50,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $978 · +4.0% YoY. Source: county tax records.