539 Paines Ave NW · Atlanta, GA 30318

$690,000

2 bd · 1.0 ba · 2,520 sqft · MultiFamily public records · 12 Days on market

Built 1950 5,079 sqft lot Est $1130k · 39% under

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Why this score? — see what drove the C+ 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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• 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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Fully renovated turnkey quadplex with four 2-bedroom 1-bath units in prime location between West Buckhead and Midtown Atlanta. Upstairs units have inviting front porches and decks leading to a shared fenced backyard. Spacious living rooms and LVP throughout all four units. Separate dining rooms in both upstairs units and one of the downstairs units. Completely renovated kitchens with stainless appliances or new appliances, granite countertops and new lighting. Fully renovated bathrooms. Shared laundry room with coded access. Fenced front yard and backyard. Minutes from Piedmont Park, the Atlanta Beltline and popular dining destinations like Ponce City Market. Close to grocery stores, shopping, restaurants, entertainment, parks, public transportation, highways, schools including Georgia Tech, Emory and Georgia State, Midtown, Buckhead and Downtown Atlanta.

Key facts

• 5,079 sq ft lot
• Built 1950
• Listed 12 days

Tags

• FULLY RENOVATED QUADPLEX
• INVITING FRONT PORCHES
• SHARED FENCED BACKYARD
• SPACIOUS LIVING ROOMS
• SEPARATE DINING ROOMS
• COMPLETELY RENOVATED KITCHENS

Property features AI

Finance

• Financial info: 4 total units; Unit rents listed: two units at $1,450 and two units at $1,550; Deposits match each unit's rent; Some units occupied; some listed as vacant

Exterior

• Parking: See remarks for parking details
• Utilities: Public water; Public sewer; Electricity available; Cable available; Phone available
• Home design: Two-story building; Vinyl siding
• Construction: Tar/gravel and tile roofing
• Exterior features: Fenced front and back yard; Back yard; Near public transport, schools, shopping, and trails/greenway

Interior

• Kitchen: Refrigerator included in each unit
• Bedrooms: Four 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Luxury vinyl flooring
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Double-pane windows; Appliances and insulation contribute to energy efficiency; Programmable thermostat
• Laundry & utility: Maintenance included for all units

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $690k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $279/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $690k).
• Cap rate 8.2% 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: Booker T. Washington High School (math 24% / reading 24%, grade F, #184 of 424 statewide, top 48%, 831 students, 100% FRL) — zoned schools average 100% FRL vs 71% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.3%/yr); 722 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $7,027/mo this rent would consume 101% of the median local household income ($83k/yr) (locally 4182% 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 $5k of loan paydown is wiped out by about $21k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $690,000

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 1950 — 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. 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: 1.02% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

• ARV (median comp): $1,129,644
• List price: $690,000
• Delta: -38.92%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.26% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-39,053
• Equity at exit: $102,881

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $64,636
• Equity at exit: $59,659

Cash invested: $193,200 (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 30318

• Rents YoY: 3.3%
• Active inventory: 722
• Price-to-rent: 32.7×

Monthly cashflow live

• Estimated rent: $7,027 high
• Mortgage (P&I): −$3,618
• Tax from tax record: −$530 /mo · $6,365/yr
• Insurance: −$288
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,476
• Net cashflow: $1,115

Break-even live

Break-even rent $5,616

Max offer price $690,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$7,028
Total (4 units)			$7,027

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: $172,500
• Closing costs: $20,700
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
539 Paines Ave NW Unit 3 Atlanta, GA	2.0	1.0	2520	$1,550	$0.62	24d	1	0.04mi
539 Paines Ave NW Apt 1 Atlanta, GA	2.0	1.0	2520	$1,450	$0.58	24d	1	0.04mi
601 English Ave NW Atlanta, GA	1.0	1.0	1900	$1,431	$0.75	12d	1	0.08mi
455 Joseph E Lowery Blvd NW Atlanta, GA	3.0	2.5	1890	$1,950	$1.03	12d	1	0.26mi
396 Elm St NW Atlanta, GA	3.0	2.0	1792	$2,100	$1.17	24d	1	0.43mi
221 Stafford St NW Atlanta, GA	3.0	2.0	2293	$2,400	$1.05	24d	1	0.86mi
1064 Westmoor Dr NW Atlanta, GA	3.0	3.0	1770	$2,300	$1.30	24d	1	0.89mi
769 Liberty Commons Dr NW Atlanta, GA	1.0	1.0	1890	$1,000	$0.53	7d	1	0.96mi
740 Liberty Commons Dr NW #1101 Atlanta, GA	3.0	3.5	1890	$2,600	$1.38	24d	1	0.99mi
23 Ollie St NW Atlanta, GA	1.0	1.0	2800	$875	$0.31	4d	1	1.08mi
23 Ollie St NW Unit N/A Atlanta, GA	1.0	1.0	2800	$875	$0.31	24d	1	1.08mi
1400 North Ave NW Unit A Atlanta, GA	3.0	2.0	2456	$2,600	$1.06	24d	1	1.13mi
889 Beckwith St SW Atlanta, GA	1.0	1.0	1840	$700	$0.38	24d	1	1.23mi
106 Morris Brown Dr SW Atlanta, GA	1.0	1.0	1765	$590	$0.33	20d	1	1.37mi
106 Morris Brown Dr SW Atlanta, GA	1.0	1.0	1765	$650	$0.37	3d	1	1.37mi
436 Markham St SW Atlanta, GA	3.0	3.0	2010	$4,000	$1.99	24d	1	1.38mi
434 Markham St SW Atlanta, GA	3.0	3.0	2010	$3,975	$1.98	24d	1	1.38mi
395 Laurent St NW #5 Atlanta, GA	2.0	2.5	2200	$3,600	$1.64	18d	1	1.49mi

Listing history 13 events

1. 2026-05-07
   listed $690,000 New 867-char remark

   Show marketing remark (867 chars)

   Fully renovated turnkey quadplex with four 2-bedroom 1-bath units in prime location between West Buckhead and Midtown Atlanta. Upstairs units have inviting front porches and decks leading to a shared fenced backyard. Spacious living rooms and LVP throughout all four units. Separate dining rooms in both upstairs units and one of the downstairs units. Completely renovated kitchens with stainless appliances or new appliances, granite countertops and new lighting. Fully renovated bathrooms. Shared laundry room with coded access. Fenced front yard and backyard. Minutes from Piedmont Park, the Atlanta Beltline and popular dining destinations like Ponce City Market. Close to grocery stores, shopping, restaurants, entertainment, parks, public transportation, highways, schools including Georgia Tech, Emory and Georgia State, Midtown, Buckhead and Downtown Atlanta.

2. 2026-05-07
   listed $690,000 Active 874-char remark

   Show marketing remark (867 chars)

   Fully renovated turnkey quadplex with four 2-bedroom 1-bath units in prime location between West Buckhead and Midtown Atlanta. Upstairs units have inviting front porches and decks leading to a shared fenced backyard. Spacious living rooms and LVP throughout all four units. Separate dining rooms in both upstairs units and one of the downstairs units. Completely renovated kitchens with stainless appliances or new appliances, granite countertops and new lighting. Fully renovated bathrooms. Shared laundry room with coded access. Fenced front yard and backyard. Minutes from Piedmont Park, the Atlanta Beltline and popular dining destinations like Ponce City Market. Close to grocery stores, shopping, restaurants, entertainment, parks, public transportation, highways, schools including Georgia Tech, Emory and Georgia State, Midtown, Buckhead and Downtown Atlanta.

3. 2020-02-20
   soldstatus $390,000
4. 2020-02-10
   soldstatus $390,000 Closed

   Show marketing remark (313 chars)

   Renovated Quadriplex located walking distance from the Mercedes Benz Stadium. Rapidly growing neighborhood, Completely rented. No available units. Bamboo flooring, new cabinets, tile in kitchen and bath, Brand new central HVAC units. Great on time paying All tenants pay on time. Please do not disturb tenants>

5. 2020-01-24
   status Pending

   Show marketing remark (313 chars)

   Renovated Quadriplex located walking distance from the Mercedes Benz Stadium. Rapidly growing neighborhood, Completely rented. No available units. Bamboo flooring, new cabinets, tile in kitchen and bath, Brand new central HVAC units. Great on time paying All tenants pay on time. Please do not disturb tenants>

6. 2020-01-14
   historical Active Under Contract

   Show marketing remark (313 chars)

   Renovated Quadriplex located walking distance from the Mercedes Benz Stadium. Rapidly growing neighborhood, Completely rented. No available units. Bamboo flooring, new cabinets, tile in kitchen and bath, Brand new central HVAC units. Great on time paying All tenants pay on time. Please do not disturb tenants>

7. 2020-01-02
   soldstatus $98,000
8. 2019-11-11
   listed $380,000 Active

   Show marketing remark (313 chars)

   Renovated Quadriplex located walking distance from the Mercedes Benz Stadium. Rapidly growing neighborhood, Completely rented. No available units. Bamboo flooring, new cabinets, tile in kitchen and bath, Brand new central HVAC units. Great on time paying All tenants pay on time. Please do not disturb tenants>

9. 2017-09-20
   soldstatus $50,000
10. 2017-09-20
    soldstatus $64,000
11. 1989-05-19
    soldstatus $49,414
12. 1987-10-26
    soldstatus $37,000
13. 1983-06-17
    soldstatus $26,000

ⓘ 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: $6,365 · $530/mo
• Projected year-2 tax: $6,365 · $530/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 5/10 Major 6 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $84,324
• − Mortgage interest: −$38,651
• − Property taxes: −$6,365
• − Insurance: −$3,450
• − Repairs & maintenance: −$6,746
• − Management: −$6,746
• − Depreciation: −$20,073
• Taxable income: $2,293
• Est. tax owed @ 24.0%: −$550
• After-tax cash flow: $12,829/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): 59,609
• Household income: $83,116
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 4182.0

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 0.63)
• Race & ethnicity: Black 49% White 35% Hispanic / Latino 7% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 1%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 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: ▼ -470.82%
• Current HPI: 224.1493
• Rent YoY: ▲ 3.26%
• 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

+2542.3% since first listed

17 events — show timeline

• 2026-06-10 Sold (MLS) $687,000 FMLS
• 2026-06-10 Sold (MLS) $687,000 GAMLS
• 2026-05-21 Pending — GAMLS
• 2026-05-21 Pending — FMLS
• 2026-05-07 Listed $690,000 FMLS
• 2026-05-07 Listed $690,000 GAMLS
• 2020-02-20 Sold (Public Records) $390,000 Public Records
• 2020-02-10 Sold (MLS) $390,000 FMLS
• 2020-01-24 Pending — FMLS
• 2020-01-14 Contingent — FMLS
• 2020-01-02 Sold (Public Records) $98,000 Public Records
• 2019-11-11 Listed $380,000 FMLS
• 2017-09-20 Sold (Public Records) $64,000 Public Records
• 2017-09-20 Sold (Public Records) $50,000 Public Records
• 1989-05-19 Sold (Public Records) $49,414 Public Records
• 1987-10-26 Sold (Public Records) $37,000 Public Records
• 1983-06-17 Sold (Public Records) $26,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $6,365 · +27.1% YoY. Source: county tax records.