1705 Monroe Dr Unit B4 · Atlanta, GA 30324

$120,000

2 bd · 1.0 ba · 9,360 sqft · Condo public records · 27 Days on market

Built 2007 $900/mo HOA

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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).

• 1% rule +10.0/10.0
• Cash flow +7.6/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated 2BR/1BA top-floor co-op in Ansley North! Features include hardwood floors, fresh paint, smooth ceilings with soundproofing, and an updated kitchen layout and stainless steel appliances. Spacious primary bedroom. Second bedroom is also spacious. A modern bath with step-less walk-in shower. Full-size washer/dryer in unit (not all units have this feature) and a private balcony. As a co-op the monthly HOA covers ALOT more like it covers taxes, hazard insurance, water/sewer/trash, pest control, system maintenance/repair/replacement of HVAC & water heater, a very good situation for anyone on a fixed income. Community also has and is included in the HOA fee, pool, grounds maintenance, package room, community room, and parking. Residents only pay electricity, gas, and internet/cable. Secure building with cameras and on-site management. Pets and roommates allowed; no rentals (cash only, board approval required). Unbeatable Midtown location-steps to Ansley Mall, BeltLine, Piedmont Park, Botanical Gardens, and more!

Key facts

• Private balcony
• Hardwood floors
• $900 HOA

Tags

• HARDWOOD FLOORS
• UPDATED KITCHEN LAYOUT
• STAINLESS STEEL APPLIANCES
• STEP-LESS WALK-IN SHOWER
• PRIVATE BALCONY
• FULL-SIZE WASHER DRYER

Property features AI

Finance

• HOA & community: Monthly association fee of $900; HOA covers insurance, structure and grounds maintenance, pest control, reserve fund, sewer, trash, and water

Exterior

• Parking: Parking pad (1 space)
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available
• Home design: One level; Condominium ownership
• Construction: Brick construction; Composition roof; Resale property
• Exterior features: Balcony; Covered rear porch; In-ground pool; Paved road frontage on a city street; Park and street lights nearby; Near public transportation and shopping

Interior

• Kitchen: White cabinets; Eat-in kitchen; Laminate countertops; Kitchen open to family room; Dishwasher; Electric oven; Gas range; Microwave; Refrigerator; Disposal
• Bedrooms: 2 bedrooms on the main level; Primary suite on the main level
• Flooring: Hardwood flooring
• Bathrooms: 1 full bathroom (main level); Master bathroom: Other features
• Heating & cooling: Central heating (natural gas); Central air conditioning; Electric water heater
• Interior features: 2+ common walls; no one below; Other interior features
• Laundry & utility: Washer and dryer included; Laundry in hall; laundry closet

🏢 Co-op / cooperative unit. The $120,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $95k (20.9% below list).
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $95k (20.9% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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: Morningside Elementary School (math 71% / reading 72%, grade A-, #47 of 1,228 statewide, top 4%, 816 students, 6% FRL); David T Howard Middle School (math 58% / reading 63%, grade B+, #39 of 470 statewide, top 8%, 1,119 students, 19% FRL); Midtown High School (math 22% / reading 34%, grade F, #151 of 424 statewide, top 36%, 1,602 students, 19% FRL) — zoned schools average 15% FRL vs 71% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 53% at this address vs 32% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Atlanta Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 327 active listings in the ZIP; 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 $830 of loan paydown is wiped out by about $4k 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 27 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago 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.
• Current owner paid $100k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent.
• 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 $94,905 (20.9% 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. 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. 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?
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 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: 1.67% ✓
• Cap rate: 4.87%
• Cash-on-cash: -5.07%
• DSCR: 0.77
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.04% rent growth · sell at horizon

5-year hold

• IRR: -32.3%
• Equity multiple: -0.00×
• Total profit: $-33,719
• Equity at exit: $17,892

10-year hold

• IRR: -96.8%
• Equity multiple: -0.82×
• Total profit: $-61,111
• Equity at exit: $10,375

Cash invested: $33,600 (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 30324

• Rents YoY: 0.0%
• Active inventory: 327
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,008 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$149 /mo · $1,790/yr
• Insurance: −$50
• HOA: −$900
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-142

Break-even live

Break-even rent $2,188

Max offer price $94,905

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $900 · $10,800/yr
• Likely covers: watersewertrashgaselectricinternetcablelandscapinginsurancepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $120,000 Active 27 DOM
2. 2026-06-17
   days on market $120,000 Active 26 DOM
3. 2026-06-16
   days on market $120,000 Active 25 DOM
4. 2026-06-15
   days on market $120,000 Active 24 DOM
5. 2026-06-13
   days on market $120,000 Active 22 DOM
6. 2026-06-13
   days on market $120,000 Active 21 DOM
7. 2026-06-09
   days on market $120,000 Active 18 DOM
8. 2026-06-08
   days on market $120,000 Active 17 DOM
9. 2026-06-07
   days on market $120,000 Active 16 DOM
10. 2026-06-04
    days on market $120,000 Active 13 DOM
11. 2026-06-03
    days on market $120,000 Active 12 DOM
12. 2026-06-02
    days on market $120,000 Active 11 DOM
13. 2026-06-01
    days on market $120,000 Active 10 DOM
14. 2026-05-31
    days on market $120,000 Active 9 DOM
15. 2026-05-22
    listed $120,000 New 1032-char remark

    Show marketing remark (1032 chars)

    Updated 2BR/1BA top-floor co-op in Ansley North! Features include hardwood floors, fresh paint, smooth ceilings with soundproofing, and an updated kitchen layout and stainless steel appliances. Spacious primary bedroom. Second bedroom is also spacious. A modern bath with step-less walk-in shower. Full-size washer/dryer in unit (not all units have this feature) and a private balcony. As a co-op the monthly HOA covers ALOT more like it covers taxes, hazard insurance, water/sewer/trash, pest control, system maintenance/repair/replacement of HVAC & water heater, a very good situation for anyone on a fixed income. Community also has and is included in the HOA fee, pool, grounds maintenance, package room, community room, and parking. Residents only pay electricity, gas, and internet/cable. Secure building with cameras and on-site management. Pets and roommates allowed; no rentals (cash only, board approval required). Unbeatable Midtown location-steps to Ansley Mall, BeltLine, Piedmont Park, Botanical Gardens, and more!

16. 2026-05-22
    listed $120,000 Active

    Show marketing remark (1032 chars)

    Updated 2BR/1BA top-floor co-op in Ansley North! Features include hardwood floors, fresh paint, smooth ceilings with soundproofing, and an updated kitchen layout and stainless steel appliances. Spacious primary bedroom. Second bedroom is also spacious. A modern bath with step-less walk-in shower. Full-size washer/dryer in unit (not all units have this feature) and a private balcony. As a co-op the monthly HOA covers ALOT more like it covers taxes, hazard insurance, water/sewer/trash, pest control, system maintenance/repair/replacement of HVAC & water heater, a very good situation for anyone on a fixed income. Community also has and is included in the HOA fee, pool, grounds maintenance, package room, community room, and parking. Residents only pay electricity, gas, and internet/cable. Secure building with cameras and on-site management. Pets and roommates allowed; no rentals (cash only, board approval required). Unbeatable Midtown location-steps to Ansley Mall, BeltLine, Piedmont Park, Botanical Gardens, and more!

17. 2026-05-13
    historical
18. 2026-02-09
    price $130,000
19. 2025-12-05
    price $140,000
20. 2025-08-21
    listed $150,000 New
21. 2022-01-24
    soldstatus $100,000 Closed
22. 2022-01-03
    status Pending
23. 2021-12-20
    historical Active Under Contract
24. 2021-11-18
    listed $100,000 Active
25. 2018-03-29
    soldstatus $73,000 Sold
26. 2018-03-29
    soldstatus $73,000 Sold
27. 2018-02-13
    status Under Contract
28. 2018-02-13
    status Pending
29. 2018-02-08
    listed $76,900 Active
30. 2018-02-08
    listed $76,900 New
31. 1989-09-01
    soldstatus $2,500,000

ⓘ 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: $1,790 · $149/mo
• Projected year-2 tax: $1,790 · $149/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 6/10 Major 7 d/yr ≥104°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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,097
• − Mortgage interest: −$6,722
• − Property taxes: −$1,790
• − Insurance: −$600
• − Repairs & maintenance: −$1,928
• − Management: −$1,928
• − HOA: −$10,800
• − Depreciation: −$3,491
• Taxable loss: −$3,161
• Est. tax savings @ 24.0%: +$759
• After-tax cash flow: $-946/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): 29,073
• Household income: $92,122
• Rent vs Own: 61.7% rent · 38.3% own
• Severe rent burden: 2749.0

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 0.66)
• Race & ethnicity: White 51% Black 24% Asian 12% Two or more races 9% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Italian 2% Serbian 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 80% English-only · Spanish 5% Other Indo-European 4% Other Asian/Pacific 3%

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: ▼ -476.16%
• Current HPI: 187.7587
• Rent YoY: ▬ 0.04%
• 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

-95.2% since first listed

17 events — show timeline

• 2026-05-22 Listed $120,000 FMLS
• 2026-05-22 Listed $120,000 GAMLS
• 2026-05-13 Listing Removed — GAMLS
• 2026-02-09 Price Changed $130,000 GAMLS
• 2025-12-05 Price Changed $140,000 GAMLS
• 2025-08-21 Listed $150,000 GAMLS
• 2022-01-24 Sold (MLS) $100,000 FMLS
• 2022-01-03 Pending — FMLS
• 2021-12-20 Contingent — FMLS
• 2021-11-18 Listed $100,000 FMLS
• 2018-03-29 Sold (MLS) $73,000 GAMLS
• 2018-03-29 Sold (MLS) $73,000 FMLS
• 2018-02-13 Pending — GAMLS
• 2018-02-13 Pending — FMLS
• 2018-02-08 Listed $76,900 GAMLS
• 2018-02-08 Listed $76,900 FMLS
• 1989-09-01 Sold (Public Records) $2,500,000 Public Records