238 Walker St SW #23 · Atlanta, GA 30313

$162,000

1 bd · 1.5 ba · 765 sqft · Condo public records · 181 Days on market

Built 2006 $212/sqft · 27% below area Est $222k · 27% under $154/mo HOA · 10% 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 +15.0/15.0
• Cash flow +9.9/30.0
• 1% rule +4.7/10.0
• Appreciation +4.5/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• DSCR +2.8/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this beautifully maintained condo located in the Fair and Walker Loft community right in the heart of Castleberry Hill in Downtown Atlanta. This one bedroom condo features hardwoods throughout the home, an open concept design kitchen to living room, granite countertops adorning the kitchen, a private patio to sip your morning coffee on, and more. Complete with its own individual parking space, this home is steps from shops, restaurants and cafes like renowned No Mas Cantina and Old Lady Gang. Steps from Mercedes Benz Stadium, easy quick access to I20 and Marta, this location is superb! Come see it for yourself today!

Key facts

• Private patio
• Granite countertops
• $154 HOA

Tags

• OPEN CONCEPT DESIGN KITCHEN
• GRANITE COUNTERTOPS
• PRIVATE PATIO
• INDIVIDUAL PARKING SPACE
• EASY QUICK ACCESS TO I20
• EASY QUICK ACCESS TO MARTA

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $162k.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (11.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (2.7% below list).
• Recommended offer: $143k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.5% 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 fast (+4.5%/yr); 43 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 (-1.1%/yr); year-one equity from $1k of loan paydown is wiped out by about $2k 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 181 days — a 12% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y 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.

Recommended offer $142,560 (12.0% 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 181 days. Have you received any prior offers? Is the seller open to a 12% 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: 0.97% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.68%
• DSCR: 0.88
• GRM: 8.6

CMA / ARV

• ARV (median comp): $222,275
• List price: $162,000
• Delta: -27.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-1.06% appreciation · 4.46% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.63×
• Total profit: $-16,565
• Equity at exit: $38,642

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $615
• Equity at exit: $40,183

Cash invested: $45,360 (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 30313

• Home prices YoY: -0.8%
• Rents YoY: 4.5%
• Active inventory: 43
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,576 high
• Mortgage (P&I): −$850
• Tax from tax record: −$275 /mo · $3,299/yr
• Insurance: −$68
• HOA: −$154
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $-101

Break-even live

Break-even rent $1,704

Max offer price $144,128

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: $40,500
• Closing costs: $4,860
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
238 Walker St SW Atlanta, GA	1.0–2.0	1.0–2.5	1550	$1,650	$1.06	13d	2	0.03mi
210 Walker St SW #1 Atlanta, GA	1.0	1.0	650	$1,500	$2.31	4d	1	0.05mi
210 Peters St SW Atlanta, GA	1.0–2.0	1.0–2.0	1033	$1,475	$1.43	2d	21	0.12mi
170 Northside Dr SW Atlanta, GA	1.0–2.0	1.0–2.0	955	$1,233	$1.29	1d	11	0.16mi
23 Larkin Pl SW Atlanta, GA	1.0–2.0	1.0–2.0	1011	$1,300	$1.29	1d	14	0.18mi
161 Mangum St SW #204 Atlanta, GA	1.0	1.0	718	$1,700	$2.37	16d	1	0.22mi
346 Peters St SW #208 Atlanta, GA	1.0	1.0	756	$2,050	$2.71	16d	1	0.22mi
346 Peters St SW #102 Atlanta, GA	2.0	1.0	1080	$3,150	$2.92	18d	1	0.22mi
510 Whitehall St SW Unit 103 Atlanta, GA	1.0	1.0	748	$1,645	$2.20	7d	1	0.35mi
396 Rawson St SW Unit 12 Atlanta, GA	2.0	1.0	675	$2,100	$3.11	3d	1	0.37mi
600 Greensferry Ave SW Atlanta, GA	1.0–3.0	1.0–2.0	949	$934	$0.98	7d	16	0.37mi
125 Ted Turner Dr SW Atlanta, GA	1.0–2.0	1.0–2.0	887	$1,723	$1.94	2d	5	0.37mi
420 Rawson St SW Atlanta, GA	1.0	1.0	700	$950	$1.36	24d	1	0.38mi
99 Centennial Olympic Park Dr Atlanta, GA	2.0	1.0–2.0	851	$1,961	$2.30	24d	23	0.39mi
99 Centennial Olympic Park Dr Atlanta, GA	2.0	1.0–2.0	929	$1,966	$2.11	1d	15	0.39mi
109 Vine St SW Unit A Atlanta, GA	2.0	1.0	600	$1,250	$2.08	21d	1	0.43mi
109 Vine St SW Unit A Atlanta, GA	2.0	1.0	750	$1,150	$1.53	7d	1	0.43mi
669 Atlanta Student Movement Blvd Atlanta, GA	2.0	1.0–2.0	803	$1,614	$2.01	24d	12	0.49mi
250 Martin Luther King Junior Dr SW Atlanta, GA	3.0	1.0–3.0	989	$3,000	$3.03	1d	78	0.49mi
55 Maple St NW Atlanta, GA	1.0–3.0	1.0–2.0	862	$1,410	$1.63	4d	35	0.53mi
133 Trinity Ave SW Atlanta, GA	1.0–2.0	1.0–2.0	897	$1,495	$1.67	7d	9	0.59mi
502 Pryor St SW #317 Atlanta, GA	1.0	1.0	750	$1,350	$1.80	24d	1	0.64mi
565 Northside Dr SW Atlanta, GA	1.0	1.0	675	$1,700	$2.52	3d	6	0.67mi
574 Cooper St SW Atlanta, GA	1.0	1.0	800	$900	$1.12	20d	1	0.68mi
561 Formwalt St SW Atlanta, GA	2.0	2.0	1000	$1,600	$1.60	24d	1	0.68mi
20 Griffin St NW Unit 1 Atlanta, GA	2.0	1.0	800	$1,250	$1.56	24d	1	0.78mi
101 Sunset Ave NW Atlanta, GA	1.0	1.0	700	$950	$1.36	20d	1	0.79mi
75 Griffin St NW Atlanta, GA	2.0	1.0	1000	$1,600	$1.60	24d	1	0.80mi
32 Peachtree St NW Atlanta, GA	1.0	1.0	609	$1,488	$2.44	3d	2	0.84mi
32 Peachtree St NW Atlanta, GA	1.0–2.0	1.0–2.0	772	$1,695	$2.19	10d	1	0.84mi
32 Peachtree St NW #1301 Atlanta, GA	1.0	1.0	591	$1,775	$3.00	5d	1	0.84mi
710 McDaniel St SW Unit 1 Atlanta, GA	1.0	1.0	600	$1,100	$1.83	24d	1	0.86mi
50 Peachtree St NW Atlanta, GA	1.0	1.0	817	$1,422	$1.74	5d	6	0.89mi
60 Paschal Blvd NW Atlanta, GA	1.0–3.0	1.0–2.5	945	$701	$0.74	24d	25	0.94mi
870 Mayson Turner Rd NW #1442 Atlanta, GA	2.0	2.0	1094	$2,100	$1.92	24d	1	1.02mi
776 Metropolitan Pkwy SW Atlanta, GA	2.0–3.0	2.0–3.0	1212	$2,165	$1.79	1d	6	1.02mi
260 Elm St NW Unit 1 Atlanta, GA	1.0	1.0	600	$1,050	$1.75	7d	1	1.04mi
89 Woodward Ave SE Atlanta, GA	1.0–3.0	1.0–2.0	1013	$989	$0.98	1d	30	1.05mi
565 Hank Aaron Dr SW Atlanta, GA	1.0–3.0	1.0–2.0	1139	$1,583	$1.39	2d	23	1.06mi
840 Smith St SW Unit A Atlanta, GA	2.0	1.5	910	$1,550	$1.70	16d	1	1.09mi

HOA detail condo

• Monthly dues: $154 · $1,848/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $162,000 Active 181 DOM
2. 2026-06-17
   days on market $162,000 Active 180 DOM
3. 2026-06-16
   days on market $162,000 Active 179 DOM
4. 2026-06-15
   days on market $162,000 Active 178 DOM
5. 2026-06-13
   days on market $162,000 Active 176 DOM
6. 2026-06-13
   days on market $162,000 Active 175 DOM
7. 2026-06-09
   days on market $162,000 Active 172 DOM
8. 2026-06-08
   days on market $162,000 Active 171 DOM
9. 2026-06-07
   days on market $162,000 Active 170 DOM
10. 2026-06-04
    days on market $162,000 Active 167 DOM
11. 2026-06-03
    days on market $162,000 Active 166 DOM
12. 2026-06-02
    days on market $162,000 Active 165 DOM
13. 2026-06-01
    days on market $162,000 Active 164 DOM
14. 2026-05-31
    days on market $162,000 Active 163 DOM
15. 2025-12-19
    listed $162,000 New 635-char remark

    Show marketing remark (635 chars)

    Welcome to this beautifully maintained condo located in the Fair and Walker Loft community right in the heart of Castleberry Hill in Downtown Atlanta. This one bedroom condo features hardwoods throughout the home, an open concept design kitchen to living room, granite countertops adorning the kitchen, a private patio to sip your morning coffee on, and more. Complete with its own individual parking space, this home is steps from shops, restaurants and cafes like renowned No Mas Cantina and Old Lady Gang. Steps from Mercedes Benz Stadium, easy quick access to I20 and Marta, this location is superb! Come see it for yourself today!

16. 2025-12-19
    listed $162,000 Active 635-char remark

    Show marketing remark (635 chars)

    Welcome to this beautifully maintained condo located in the Fair and Walker Loft community right in the heart of Castleberry Hill in Downtown Atlanta. This one bedroom condo features hardwoods throughout the home, an open concept design kitchen to living room, granite countertops adorning the kitchen, a private patio to sip your morning coffee on, and more. Complete with its own individual parking space, this home is steps from shops, restaurants and cafes like renowned No Mas Cantina and Old Lady Gang. Steps from Mercedes Benz Stadium, easy quick access to I20 and Marta, this location is superb! Come see it for yourself today!

17. 2018-08-24
    soldstatus $165,000
18. 2018-08-17
    soldstatus $165,000 Sold
19. 2018-08-17
    soldstatus $165,000 Sold
20. 2018-08-01
    status Pending
21. 2018-07-17
    historical Contingent - Due Diligence
22. 2018-07-17
    status Under Contract
23. 2018-06-29
    listed $180,000 Active
24. 2018-06-29
    listed $180,000 New
25. 2011-08-24
    historical
26. 2011-07-20
    soldstatus $40,000 Sold
27. 2011-06-11
    status Pending
28. 2011-05-31
    listed $42,500 Active

ⓘ 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: $3,299 · $275/mo
• Projected year-2 tax: $3,299 · $275/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $18,908
• − Mortgage interest: −$9,075
• − Property taxes: −$3,299
• − Insurance: −$810
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − HOA: −$1,848
• − Depreciation: −$4,713
• Taxable loss: −$3,861
• Est. tax savings @ 24.0%: +$927
• After-tax cash flow: $-287/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): 10,913
• Household income: $84,960
• Rent vs Own: 59.3% rent · 40.7% own
• Severe rent burden: 572.0

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 0.69)
• Race & ethnicity: Black 41% White 34% Asian 15% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Italian 3% Romanian 1% Serbian 1%
• Foreign-born: 12% · Canada, South Korea, China
• Languages at home: 79% English-only · Other Indo-European 6% Spanish 4% Other Asian/Pacific 4%

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: ▼ -1.06%
• Current HPI: 135.6399
• Rent YoY: ▲ 4.46%
• 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

+281.2% since first listed

14 events — show timeline

• 2025-12-19 Listed $162,000 FMLS
• 2025-12-19 Listed $162,000 GAMLS
• 2018-08-24 Sold (Public Records) $165,000 Public Records
• 2018-08-17 Sold (MLS) $165,000 GAMLS
• 2018-08-17 Sold (MLS) $165,000 FMLS
• 2018-08-01 Pending — FMLS
• 2018-07-17 Contingent — FMLS
• 2018-07-17 Pending — GAMLS
• 2018-06-29 Listed $180,000 GAMLS
• 2018-06-29 Listed $180,000 FMLS
• 2011-08-24 Listing Removed — FMLS
• 2011-07-20 Sold (MLS) $40,000 FMLS
• 2011-06-11 Pending — FMLS
• 2011-05-31 Listed $42,500 FMLS

Property tax history

+0.8%/yr

Latest (2025): $3,299 · -0.1% YoY. Source: county tax records.