1918 Velma St SE · Atlanta, GA 30315

$140,000

3 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 67 Days on market

Built 1960 9,234 sqft lot Est $171k · 18% under

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Why this score? — see what drove the B 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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• 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

Listing remarks MLS

GOOD BONES. Wonderful investment opportunity in the Thomasville Heights community! 4-sided brick 3bed/1bath, carport with storage. Close to public transportation, I75, I85, & I20, only minutes to downtown Atlanta. Home needs full renovation. No blind offers accepted/must preview home before submitting offer. Seller is only considering cash offers. Buyers proof of funds must accompany offer. Seller is related to the owner.

Key facts

• 9,234 sq ft lot
• Built 1960
• Listed 67 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.

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: Thomas Heathe Slater Elementary School (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 569 students, 100% FRL); Judson Price Middle School (math 2% / reading 8%, grade F, #462 of 470 statewide, top 99%, 283 students, 100% FRL); Carver High School (math 24%, 445 students, 100% FRL) — zoned schools average 100% FRL vs 71% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 5% at this address vs 32% district-wide (-26 pts) — the specific schools serving this property underperform the Atlanta Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.2%/yr); 378 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $968 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $109k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• 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 $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.39% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.62%
• DSCR: 1.61
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $171,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1918 Velma St SE	0.00mi	3/1.0	1,120 (0%)	0mo	$133,000	$119	100
1991 Turner Rd SE	0.14mi	3/2.0	1,036 (-8%)	6mo	$198,000	$191	72
1229 Kipling St SE	0.38mi	3/1.0	1,080 (-4%)	8mo	$160,000	$148	69
1154 Penn Ct	0.27mi	3/1.0	1,000 (-11%)	1mo	$188,300	$188	69
2006 Phillips Dr SE	0.22mi	3/1.0	1,000 (-11%)	4mo	$100,000	$100	68
1050 Moreland Dr SE	0.52mi	2/2.0 (-1)	1,120 (0%)	1mo	$249,000	$222	66
710 Thomasville Blvd SE	0.58mi	3/2.0	1,084 (-3%)	0mo	$213,000	$196	63
1895 Thomasville Dr SE	0.20mi	3/1.0	983 (-12%)	9mo	$98,000	$100	63
1044 Moreland Dr SE	0.52mi	2/1.0 (-1)	1,080 (-4%)	6mo	$115,000	$106	60
1899 Lathrop St SE	0.18mi	4/2.0 (+1)	1,236 (+10%)	7mo	$189,000	$153	59
1079 Stonewall Dr SE	0.64mi	3/1.0	1,008 (-10%)	7mo	$140,000	$139	47
1087 Hillcrest Dr SE	0.60mi	2/1.0 (-1)	979 (-13%)	7mo	$261,000	$267	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.23% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $6,208
• Equity at exit: $20,874

10-year hold

• IRR: 13.9%
• Equity multiple: 2.13×
• Total profit: $44,190
• Equity at exit: $12,105

Cash invested: $39,200 (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 30315

• Rents YoY: 3.2%
• Active inventory: 378
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,948 high
• Mortgage (P&I): −$734
• Tax from tax record: −$302 /mo · $3,620/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $445

Break-even live

Break-even rent $1,385

Max offer price $140,000

Occupancy floor 72%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1979 Turner Rd SE Atlanta, GA	3.0	1.0	808	$1,595	$1.97	11d	1	0.15mi
976 McKay Dr SE Atlanta, GA	3.0	1.0	1200	$1,695	$1.41	3d	1	0.22mi
972 Welch St SE Atlanta, GA	3.0	2.0	1100	$900	$0.82	5d	1	0.43mi
1940 Fisher Rd SE Atlanta, GA	2.0	1.0	760	$1,300	$1.71	24d	1	0.67mi
752 McDonough Blvd SE Atlanta, GA	3.0	2.0	1120	$1,895	$1.69	24d	1	0.72mi
1496 Woodland Ave SE Atlanta, GA	3.0	3.5	1144	$2,600	$2.27	2d	1	0.82mi
1144 Regis Rd SE Atlanta, GA	3.0	1.0	1430	$1,725	$1.21	24d	1	0.83mi
1316 Moreland Ave SE Atlanta, GA	2.0	2.0	866	$2,026	$2.34	44d	1	0.91mi
1317 Redford Dr SE Atlanta, GA	3.0	2.0	1137	$2,100	$1.85	24d	1	1.00mi
1296 Moreland Ave SE Atlanta, GA	1.0–2.0	1.0–2.0	1000	$2,135	$2.13	2d	24	1.00mi
1037 Rebel Forest Dr SE Atlanta, GA	3.0	2.0	1075	$1,750	$1.63	24d	1	1.04mi
871 Hargis St SE Atlanta, GA	2.0	2.0	1040	$1,800	$1.73	24d	1	1.06mi
1770 Richmond Cir SE Unit 1000E Atlanta, GA	2.0	2.0	1200	$1,365	$1.14	24d	1	1.09mi
1770 Richmond Cir SE Unit 500F Atlanta, GA	2.0	2.0	1200	$1,750	$1.46	24d	1	1.09mi
672 Cassanova St SE Unit B Atlanta, GA	2.0	1.5	1245	$2,300	$1.85	18d	1	1.14mi
2087 Lakewood Trl SE Atlanta, GA	3.0	2.5	1056	$2,256	$2.14	24d	1	1.16mi
1754 Richmond Cir SE Atlanta, GA	2.0	2.0	1200	$1,750	$1.46	8d	2	1.17mi
585 McWilliams Rd SE #104 Atlanta, GA	2.0	3.0	1500	$2,078	$1.39	20d	1	1.21mi
2642 Hatfield Cir SE Atlanta, GA	3.0	1.5	1430	$2,300	$1.61	22d	1	1.22mi
340 Adelle St SE Atlanta, GA	3.0	1.0	1122	$1,500	$1.34	3d	1	1.26mi
386 Lindsey Dr SE Atlanta, GA	3.0	1.0	1040	$1,808	$1.74	15d	1	1.28mi
1403 Custer Ave SE Atlanta, GA	1.0–2.0	1.0	829	$1,283	$1.55	44d	8	1.32mi
1403 Custer Ave SE Atlanta, GA	2.0	1.0	891	$1,149	$1.29	2d	5	1.32mi
1376 Custer Ave SE Atlanta, GA	2.0	1.0–1.5	1217	$1,420	$1.17	2d	5	1.34mi
1394 Cozy Cir SE Atlanta, GA	3.0	3.0	1500	$2,850	$1.90	14d	1	1.36mi
402 McDonough Blvd SE Atlanta, GA	3.0	3.5	1270	$2,350	$1.85	24d	1	1.41mi
1267 Zucchini Cir SE Atlanta, GA	3.0	3.0	1500	$3,800	$2.53	24d	1	1.48mi
1267 Zucchini Cir SE Atlanta, GA	3.0	3.0	1500	$3,300	$2.20	8d	1	1.48mi
2344 Ripplewater Dr SE Atlanta, GA	2.0	2.0	1022	$2,250	$2.20	44d	1	1.48mi
1875 Conrad Ave SE Atlanta, GA	3.0	2.0	1088	$1,803	$1.66	22d	1	1.50mi

Listing history 9 events

1. 2026-04-18
   status Under Contract
2. 2026-03-27
   price $140,000
3. 2026-02-24
   price $150,000
4. 2026-02-10
   listed $170,000 New
5. 2019-04-11
   soldstatus $109,000
6. 2017-12-12
   soldstatus $32,900 Sold 432-char remark

   Show marketing remark (432 chars)

   GOOD BONES. Wonderful investment opportunity in the Thomasville Heights community! 4-sided brick 3bed/1bath, carport with storage. Close to public transportation, I75, I85, & I20, only minutes to downtown Atlanta. Home needs full renovation. No blind offers accepted/must preview home before submitting offer. Seller is only considering cash offers. Buyers proof of funds must accompany offer. Seller is related to the owner.

7. 2017-11-27
   status Under Contract 432-char remark

   Show marketing remark (432 chars)

   GOOD BONES. Wonderful investment opportunity in the Thomasville Heights community! 4-sided brick 3bed/1bath, carport with storage. Close to public transportation, I75, I85, & I20, only minutes to downtown Atlanta. Home needs full renovation. No blind offers accepted/must preview home before submitting offer. Seller is only considering cash offers. Buyers proof of funds must accompany offer. Seller is related to the owner.

8. 2017-11-25
   listed $39,900 New 432-char remark

   Show marketing remark (432 chars)

   GOOD BONES. Wonderful investment opportunity in the Thomasville Heights community! 4-sided brick 3bed/1bath, carport with storage. Close to public transportation, I75, I85, & I20, only minutes to downtown Atlanta. Home needs full renovation. No blind offers accepted/must preview home before submitting offer. Seller is only considering cash offers. Buyers proof of funds must accompany offer. Seller is related to the owner.

9. 1982-06-15
   soldstatus $15,000

ⓘ 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: $3,620 · $302/mo
• Projected year-2 tax: $3,620 · $302/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 5/10 Major 7 d/yr ≥105°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: $23,378
• − Mortgage interest: −$7,842
• − Property taxes: −$3,620
• − Insurance: −$700
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − Depreciation: −$4,073
• Taxable income: $3,403
• Est. tax owed @ 24.0%: −$817
• After-tax cash flow: $4,522/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): 34,264
• Household income: $50,822
• Rent vs Own: 56.7% rent · 43.3% own
• Severe rent burden: 2962.0

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 (72%)
• Race & ethnicity: Black 72% White 14% Hispanic / Latino 10% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 1% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 9% French/Haitian/Cajun 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: ▼ -281.87%
• Current HPI: 176.673
• Rent YoY: ▲ 3.23%
• 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

+833.3% since first listed

9 events — show timeline

• 2026-04-18 Pending — GAMLS
• 2026-03-27 Price Changed $140,000 GAMLS
• 2026-02-24 Price Changed $150,000 GAMLS
• 2026-02-10 Listed $170,000 GAMLS
• 2019-04-11 Sold (Public Records) $109,000 Public Records
• 2017-12-12 Sold (MLS) $32,900 GAMLS
• 2017-11-27 Pending — GAMLS
• 2017-11-25 Listed $39,900 GAMLS
• 1982-06-15 Sold (Public Records) $15,000 Public Records

Property tax history

+16.1%/yr

Latest (2025): $3,620 · -14.4% YoY. Source: county tax records.