384 Hopkins St SW · Atlanta, GA 30310

$238,000

4 bd · 2.0 ba · 1,347 sqft · MultiFamily public records · 27 Days on market

Built 1930 10,541 sqft lot

---

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).

• Cash flow +18.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.1/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Discover this fantastic investment opportunity in the sought-after West End neighborhood! This charming duplex offers two separate units, each featuring 1 bedroom and 1 bath. Located conveniently near the West End Mall, this property is perfect for investors looking to capitalize on the booming Beltline area. Both units have great potential for rental income or can be renovated for increased value. Enjoy the vibrant community and the convenience of nearby shops, restaurants, and parks. Don't miss out on this rare find in a prime location!

Key facts

• Nearby shops
• Two separate units
• Nearby parks

Tags

• TWO SEPARATE UNITS
• NEARBY SHOPS
• NEARBY RESTAURANTS
• NEARBY PARKS
• RENTAL INCOME
• BOOMING BELTLINE AREA

Property features AI

Finance

• Financial info: Total units: 2

Exterior

• Parking: Driveway parking; Two total parking spaces; Open parking available
• Utilities: Water source: Public; Sewer: Public sewer; Utilities: Other
• Home design: One level; Two-unit multifamily property
• Construction: Construction materials: Other; Roof: Other
• Exterior features: Near Beltline; Near public transport; Near schools; Use GPS for directions

Interior

• Kitchen: No appliances or specific kitchen features listed
• Bedrooms: Unit 1: 1 bedroom; Unit 2: 1 bedroom
• Bathrooms: Unit 1: 1 bathroom; Unit 2: 1 bathroom
• Heating & cooling: Heating: Other; Cooling: Other
• Interior features: Resale condition; One-level layout; Two-unit building (both units vacant)
• Laundry & utility: No utilities or maintenance included with units

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $238k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive. Per door: $119/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $238k).
• Recommended offer: $234k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% 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 (+2.8%/yr); 452 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $2,412/mo this rent would consume 55% of the median local household income ($53k/yr) (locally 1676% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 ($234k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $192k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $234,430 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.01% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.28%
• DSCR: 1.19
• GRM: 8.2

CMA / ARV

• ARV (median comp): $659,221
• List price: $238,000
• Delta: -63.90%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.77% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.64×
• Total profit: $-23,938
• Equity at exit: $35,487

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-3,426
• Equity at exit: $20,578

Cash invested: $66,640 (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 30310

• Home prices YoY: -32.8%
• Rents YoY: 2.8%
• Active inventory: 452
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $2,412 high
• Mortgage (P&I): −$1,248
• Tax from tax record: −$321 /mo · $3,847/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $238

Break-even live

Break-even rent $2,111

Max offer price $238,000

Occupancy floor 85%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,412
Total (2 units)			$2,412

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: $59,500
• Closing costs: $7,140
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1201 Westview Dr SW Atlanta, GA	3.0	2.0	1040	$2,050	$1.97	24d	1	0.25mi
1181 Westview Dr SW Atlanta, GA	4.0	2.0	1392	$2,400	$1.72	24d	1	0.27mi
1155 Lucile Ave SW Apt 1 Atlanta, GA	3.0	2.0	1026	$1,775	$1.73	24d	1	0.30mi
1265 Oak St SW Atlanta, GA	4.0	3.0	1821	$3,300	$1.81	24d	1	0.31mi
1462 Lucile Ave SW Atlanta, GA	5.0	3.0	1700	$2,300	$1.35	24d	1	0.37mi
1420 Ralph David Abernathy Blvd SW Atlanta, GA	3.0	2.0	1306	$2,400	$1.84	24d	1	0.42mi
155 Rosser St SW Atlanta, GA	3.0	2.0	1500	$2,073	$1.38	24d	1	0.49mi
198 Wellington St SW Atlanta, GA	3.0	2.5	1787	$2,700	$1.51	24d	1	0.57mi
1425 Oglethorpe Ave SW Atlanta, GA	3.0	2.0	1540	$2,950	$1.92	5d	1	0.60mi
660 Queen St SW Unit A Atlanta, GA	3.0	2.0	1840	$2,500	$1.36	24d	1	0.61mi
660 Queen St SW Unit B Atlanta, GA	3.0	3.0	1840	$3,250	$1.77	24d	1	0.61mi
505 W Ontario Ave SW Atlanta, GA	3.0	2.0	1587	$2,800	$1.76	21d	1	0.63mi
684 Grady Pl SW Atlanta, GA	4.0	2.5	1806	$2,550	$1.41	13d	1	0.63mi
1619 Stokes Ave SW Atlanta, GA	3.0	2.0	1332	$2,400	$1.80	3d	1	0.68mi
1649 Derry Ave SW Atlanta, GA	4.0	2.0	1825	$3,200	$1.75	24d	1	0.68mi
29 Chappell Rd NW Atlanta, GA	3.0	2.0	1670	$1,953	$1.17	22d	1	0.71mi
1000 Palmetto Ave SW Atlanta, GA	3.0	2.0	1566	$1,925	$1.23	24d	1	0.71mi
176 Racine St SW Atlanta, GA	3.0	2.0	1423	$2,800	$1.97	24d	1	0.74mi
954 Parsons St SW Atlanta, GA	4.0	3.5	1376	$2,800	$2.03	22d	1	0.77mi
945 Palmetto Ave SW Atlanta, GA	3.0	2.0	1200	$3,500	$2.92	24d	1	0.82mi
152 Joseph Echols Lowery Blvd SW Atlanta, GA	4.0	3.0	1822	$4,000	$2.20	24d	1	0.83mi
1473 Beecher St SW Atlanta, GA	3.0	2.0	1547	$2,600	$1.68	24d	1	0.86mi
15 Ollie St NW Atlanta, GA	3.0	2.5	1594	$3,150	$1.98	24d	1	0.87mi
1474 Beecher St SW Atlanta, GA	3.0	2.0	1332	$3,200	$2.40	24d	1	0.88mi
2111 Martin Luther King Junior Dr NW Atlanta, GA	3.0	1.0	1470	$1,800	$1.22	24d	1	0.90mi
1332 Akridge St NW Atlanta, GA	3.0	2.0	1400	$1,775	$1.27	24d	1	0.90mi
1578 Linda Way SW Atlanta, GA	3.0	2.0	1343	$2,030	$1.51	14d	1	0.91mi
120 Burbank Dr NW Atlanta, GA	3.0	2.0	1331	$1,795	$1.35	24d	1	0.92mi
1758 Emerald Ave SW Atlanta, GA	4.0	2.0	1873	$2,700	$1.44	11d	1	0.92mi
66 Holly Rd NW Atlanta, GA	3.0	2.5	1632	$2,228	$1.37	2d	1	0.95mi
1448 Westboro Dr SW Atlanta, GA	3.0	2.0	1437	$2,300	$1.60	8d	1	0.95mi
884 T P Burruss SR Dr SW Atlanta, GA	3.0	2.0	1366	$2,299	$1.68	24d	1	0.99mi
1435 Richland Rd SW Atlanta, GA	3.0	2.0	1637	$2,875	$1.76	15d	1	1.00mi
1004 Desoto St NW Atlanta, GA	3.0	2.0	1550	$1,995	$1.29	24d	1	1.01mi
1180 Richland Rd SW Atlanta, GA	3.0	2.0	1082	$2,800	$2.59	24d	1	1.02mi
0 W Lake Ave NW Atlanta, GA	3.0	2.5	1300	$1,900	$1.46	2d	1	1.04mi
1064 Westmoor Dr NW Atlanta, GA	3.0	3.0	1770	$2,300	$1.30	24d	1	1.07mi
903 Beecher St SW Unit 905 Beecher Atlanta, GA	3.0	2.0	1500	$4,000	$2.67	22d	1	1.07mi
903 Beecher St SW Atlanta, GA	3.0	2.0	1500	$7,500	$5.00	24d	1	1.07mi
1735 Alvarado Ter SW Atlanta, GA	3.0	2.0	1235	$1,595	$1.29	22d	1	1.09mi

Listing history 9 events

1. 2026-05-05
   price $238,000 547-char remark

   Show marketing remark (547 chars)

   Discover this fantastic investment opportunity in the sought-after West End neighborhood! This charming duplex offers two separate units, each featuring 1 bedroom and 1 bath. Located conveniently near the West End Mall, this property is perfect for investors looking to capitalize on the booming Beltline area. Both units have great potential for rental income or can be renovated for increased value. Enjoy the vibrant community and the convenience of nearby shops, restaurants, and parks. Don't miss out on this rare find in a prime location!

2. 2026-05-05
   price $238,000 547-char remark

   Show marketing remark (547 chars)

   Discover this fantastic investment opportunity in the sought-after West End neighborhood! This charming duplex offers two separate units, each featuring 1 bedroom and 1 bath. Located conveniently near the West End Mall, this property is perfect for investors looking to capitalize on the booming Beltline area. Both units have great potential for rental income or can be renovated for increased value. Enjoy the vibrant community and the convenience of nearby shops, restaurants, and parks. Don't miss out on this rare find in a prime location!

3. 2026-05-01
   listed $239,000 New 547-char remark

   Show marketing remark (547 chars)

   Discover this fantastic investment opportunity in the sought-after West End neighborhood! This charming duplex offers two separate units, each featuring 1 bedroom and 1 bath. Located conveniently near the West End Mall, this property is perfect for investors looking to capitalize on the booming Beltline area. Both units have great potential for rental income or can be renovated for increased value. Enjoy the vibrant community and the convenience of nearby shops, restaurants, and parks. Don't miss out on this rare find in a prime location!

4. 2026-05-01
   listed $239,000 Active 547-char remark

   Show marketing remark (547 chars)

   Discover this fantastic investment opportunity in the sought-after West End neighborhood! This charming duplex offers two separate units, each featuring 1 bedroom and 1 bath. Located conveniently near the West End Mall, this property is perfect for investors looking to capitalize on the booming Beltline area. Both units have great potential for rental income or can be renovated for increased value. Enjoy the vibrant community and the convenience of nearby shops, restaurants, and parks. Don't miss out on this rare find in a prime location!

5. 2024-08-20
   historical
6. 2024-08-20
   historical
7. 2024-06-20
   listed $250,000 New
8. 2024-06-20
   listed $250,000 Active
9. 1981-04-17
   soldstatus $22,500

ⓘ 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: $3,847 · $321/mo
• Projected year-2 tax: $3,847 · $321/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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°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 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,944
• − Mortgage interest: −$13,332
• − Property taxes: −$3,847
• − Insurance: −$1,190
• − Repairs & maintenance: −$2,316
• − Management: −$2,316
• − Depreciation: −$6,924
• Taxable loss: −$979
• Est. tax savings @ 24.0%: +$235
• After-tax cash flow: $3,087/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): 27,186
• Household income: $53,037
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 1676.0

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 (76%)
• Race & ethnicity: Black 76% White 14% Two or more races 4% Hispanic / Latino 4% Asian 2%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 0%
• Foreign-born: 5% · Canada, South Korea, Vietnam
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -204.00%
• Current HPI: 418.7297
• Rent YoY: ▲ 2.77%
• 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

+755.6% since first listed

12 events — show timeline

• 2026-05-28 Pending — FMLS
• 2026-05-20 Sold (MLS) $192,500 GAMLS
• 2026-05-20 Sold (MLS) $192,500 FMLS
• 2026-05-05 Price Changed $238,000 FMLS
• 2026-05-05 Price Changed $238,000 GAMLS
• 2026-05-01 Listed $239,000 GAMLS
• 2026-05-01 Listed $239,000 FMLS
• 2024-08-20 Listing Removed — GAMLS
• 2024-08-20 Listing Removed — FMLS
• 2024-06-20 Listed $250,000 GAMLS
• 2024-06-20 Listed $250,000 FMLS
• 1981-04-17 Sold (Public Records) $22,500 Public Records

Property tax history

+4.0%/yr

Latest (2025): $3,847 · -2.8% YoY. Source: county tax records.