978 Grant Ter SE · Atlanta, GA 30315

$360,000

2 bd · 2.0 ba · 1,161 sqft · MultiFamily public records · 82 Days on market

Built 1950 5,445 sqft lot ↓ 33% since listing

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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 +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +4.8/10.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

INVESTOR SPECIAL - Prime Location with Endless Potential! Exceptional opportunity in a highly sought-after Grant Park area! This property is perfect for investors or buyers looking to renovate and create their dream home. Situated on an oversized lot, the possibilities are endless - renovate the existing structure as a primary residence, rebuild, or explore the potential to develop two homes or a duplex. Ideally located just 4 miles from Zoo Atlanta in Grant Park, with walkable access to popular attractions and dining. Enjoy being minutes from the former Turner Field, now Center Parc Stadium, and only a 10-minute drive to Hartsfield-Jackson Atlanta International Airport, Downtown Atlanta, and Centennial Olympic Park. Just a short stroll to local favorites at The Beacon Atlanta. Surrounded by upscale homes and ongoing development, this location offers strong growth and investment potential. Pictures are virtually decluttered. Property is owner-occupied. Appointment Only. Bring all offers - Motivated Seller!

Key facts

• Oversized lot
• 5,445 sq ft lot
• 2 parking spots

Tags

• OVERSIZED LOT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $638 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $351k (2.5% below list).
• Recommended offer: $338k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: Kipp Ways Primary Charter School (math 5% / reading 5%, grade F, #1,160 of 1,228 statewide, top 98%, 477 students, 100% FRL, charter); Martin L. King Jr. Middle School (math 16% / reading 23%, grade F, #356 of 470 statewide, top 78%, 818 students, 100% FRL); Maynard Jackson High School (math 30% / reading 24%, grade F, #160 of 424 statewide, top 38%, 1,474 students, 44% FRL).
• Zoned-school proficiency averages 17% at this address vs 32% district-wide (-14 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); 391 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $3,510/mo this rent would consume 83% of the median local household income ($51k/yr) (locally 2962% 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 $11k 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 82 days — a 6% lower offer ($338k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $130k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; moderate wind risk, 26% 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 $338,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.97% ✗
• Cap rate: 8.42%
• Cash-on-cash: 7.59%
• DSCR: 1.34
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-17,053
• Equity at exit: $53,677

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $40,162
• Equity at exit: $31,126

Cash invested: $100,800 (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: 391
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $3,510 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$97 /mo · $1,165/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$737
• Net cashflow: $638

Break-even live

Break-even rent $2,702

Max offer price $360,000

Occupancy floor 77%

Sensitivity live

Price	-10% $842	-5% $740	+0% $638	+5% $536	+10% $434
Rent	-10% $361	-5% $499	+0% $638	+5% $777	+10% $915
Rate	-1.0pp $819	-0.5pp $730	base $638	+0.5pp $545	+1.0pp $450

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,510
Total (2 units)			$3,510

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
979 Hill St SE Atlanta, GA	3.0	2.0	1380	$3,000	$2.17	23d	1	0.02mi
1000 Hill St SE Unit C Atlanta, GA	1.0	1.0	1100	$1,823	$1.66	9d	1	0.07mi
1000 Hill St SE Unit A Atlanta, GA	2.0	1.0	1500	$2,323	$1.55	9d	1	0.07mi
222 Tuskegee St SE Atlanta, GA	2.0–3.0	1.0–2.0	1202	$1,213	$1.01	26d	6	0.10mi
940 Martin St SE Atlanta, GA	3.0	3.0	1364	$2,495	$1.83	26d	1	0.24mi
967 Martin St SE Atlanta, GA	3.0	2.0	1162	$1,950	$1.68	26d	1	0.26mi
207 South Ave SE Atlanta, GA	2.0	1.0	750	$1,977	$2.64	26d	1	0.31mi
45 Boynton Ave SE Atlanta, GA	2.0–4.0	2.5–4.0	1452	$2,592	$1.79	0d	14	0.34mi
795 Grant St SE Atlanta, GA	3.0	2.0	1474	$5,200	$3.53	3d	1	0.35mi
1054 Atlanta, GA	3.0–4.0	2.0	1295	$1,974	$1.52	22d	2	0.43mi
430 Englewood Ave SE Atlanta, GA	3.0	1.0–2.0	938	$2,886	$3.08	3d	28	0.45mi
72 Milton Ave SE Atlanta, GA	2.0	1.0–2.0	818	$2,041	$2.49	0d	19	0.46mi
767 Terry St SE Unit B Atlanta, GA	3.0	2.0	1330	$2,600	$1.95	26d	1	0.52mi
1056 Hank Aaron Dr SW Atlanta, GA	1.0–2.0	1.0	753	$1,139	$1.51	9d	6	0.52mi
51 Little St SE Atlanta, GA	3.0	2.5	1478	$2,995	$2.03	26d	1	0.54mi
1015 Boulevard SE Atlanta, GA	2.0	1.0–2.0	933	$2,707	$2.90	0d	17	0.55mi
875 Hank Aaron Dr SW Atlanta, GA	1.0–3.0	1.0–2.0	916	$1,460	$1.59	26d	1	0.56mi
125 Milton Ave SE Atlanta, GA	2.0	1.0–2.0	965	$2,494	$2.58	0d	30	0.56mi
547 Atlanta Ave SE Unit 2 Atlanta, GA	1.0	1.0	850	$1,400	$1.65	26d	1	0.57mi
547 Atlanta Ave SE Atlanta, GA	2.0	1.0	1000	$1,850	$1.85	26d	1	0.57mi
1099 Boulevard SE Atlanta, GA	2.0	1.0–2.0	928	$2,206	$2.38	0d	34	0.59mi
60 Adore Ct SE Atlanta, GA	2.0	2.0	1139	$2,200	$1.93	16d	1	0.61mi
1055 Park Row N Atlanta, GA	1.0	1.5	1075	$2,300	$2.14	4d	1	0.66mi
1055 Park Row N Atlanta, GA	1.0	1.5	1075	$2,300	$2.14	3d	1	0.66mi
1069 Park Row North SE Atlanta, GA	1.0	1.5	1022	$1,840	$1.80	0d	1	0.67mi
720 Hank Aaron Dr SE Atlanta, GA	2.0	1.0–2.0	891	$2,234	$2.51	0d	27	0.68mi
679 Arcos Way SE Atlanta, GA	2.0	2.5	1500	$2,650	$1.77	17d	1	0.69mi
691 Concrete Aly SE Atlanta, GA	2.0	2.0	1171	$4,521	$3.86	20d	1	0.70mi
141 McDonough Blvd SE Atlanta, GA	3.0	2.0	1242	$2,250	$1.81	26d	1	0.73mi
825 Hank Aaron Dr SW Atlanta, GA	2.0	2.0	861	$1,470	$1.71	26d	1	0.75mi
1267 Zucchini Cir SE Atlanta, GA	3.0	3.0	1500	$3,300	$2.20	9d	1	0.76mi
1267 Zucchini Cir SE Atlanta, GA	3.0	3.0	1500	$3,800	$2.53	26d	1	0.76mi
680 Hamilton Ave SE Atlanta, GA	1.0–2.0	1.0–2.0	929	$2,425	$2.61	0d	16	0.77mi
655 Mead St SE #67 Atlanta, GA	2.0	2.0	1500	$2,295	$1.53	26d	1	0.83mi
1389 Cozy Ct SE Atlanta, GA	1.0	1.0	1500	$1,350	$0.90	26d	1	0.85mi
1389 Cozy Ct SE Atlanta, GA	1.0	1.0	1500	$1,350	$0.90	7d	1	0.85mi
1394 Cozy Cir SE Atlanta, GA	3.0	3.0	1500	$2,850	$1.90	15d	1	0.87mi
565 Hank Aaron Dr SW Atlanta, GA	1.0–3.0	1.0–2.0	1139	$2,338	$2.05	0d	22	0.87mi
117 Thayer Ave SE Atlanta, GA	3.0	1.0	1241	$1,666	$1.34	15d	1	0.91mi
402 McDonough Blvd SE Atlanta, GA	3.0	3.5	1270	$2,350	$1.85	26d	1	0.92mi

Listing history 21 events

1. 2026-06-01
   days on market $360,000 Active 82 DOM
2. 2026-05-31
   days on market $360,000 Active 81 DOM
3. 2026-04-24
   price $400,000 1026-char remark

   Show marketing remark (1044 chars)

   INVESTOR SPECIAL – Prime Location with Endless Potential! Exceptional opportunity in a highly sought-after Grant Park area! This property is perfect for investors or buyers looking to renovate and create their dream home. Situated on an oversized lot, the possibilities are endless — renovate the existing structure as a primary residence, rebuild, or explore the potential to develop two homes or a duplex. Ideally located just 4 miles from Zoo Atlanta in Grant Park, with walkable access to popular attractions and dining. Enjoy being minutes from the former Turner Field, now Center Parc Stadium, and only a 10-minute drive to Hartsfield-Jackson Atlanta International Airport, Downtown Atlanta, and Centennial Olympic Park. Just a short stroll to local favorites at The Beacon Atlanta. Surrounded by upscale homes and ongoing development, this location offers strong growth and investment potential. Pictures are virtually decluttered. Property is owner-occupied. Appointment Only. Bring all offers — Motivated Seller!

4. 2026-04-24
   price $400,000 1044-char remark

   Show marketing remark (1044 chars)

   INVESTOR SPECIAL – Prime Location with Endless Potential! Exceptional opportunity in a highly sought-after Grant Park area! This property is perfect for investors or buyers looking to renovate and create their dream home. Situated on an oversized lot, the possibilities are endless — renovate the existing structure as a primary residence, rebuild, or explore the potential to develop two homes or a duplex. Ideally located just 4 miles from Zoo Atlanta in Grant Park, with walkable access to popular attractions and dining. Enjoy being minutes from the former Turner Field, now Center Parc Stadium, and only a 10-minute drive to Hartsfield-Jackson Atlanta International Airport, Downtown Atlanta, and Centennial Olympic Park. Just a short stroll to local favorites at The Beacon Atlanta. Surrounded by upscale homes and ongoing development, this location offers strong growth and investment potential. Pictures are virtually decluttered. Property is owner-occupied. Appointment Only. Bring all offers — Motivated Seller!

5. 2026-03-11
   listed $490,000 New 1026-char remark

   Show marketing remark (1044 chars)

   INVESTOR SPECIAL – Prime Location with Endless Potential! Exceptional opportunity in a highly sought-after Grant Park area! This property is perfect for investors or buyers looking to renovate and create their dream home. Situated on an oversized lot, the possibilities are endless — renovate the existing structure as a primary residence, rebuild, or explore the potential to develop two homes or a duplex. Ideally located just 4 miles from Zoo Atlanta in Grant Park, with walkable access to popular attractions and dining. Enjoy being minutes from the former Turner Field, now Center Parc Stadium, and only a 10-minute drive to Hartsfield-Jackson Atlanta International Airport, Downtown Atlanta, and Centennial Olympic Park. Just a short stroll to local favorites at The Beacon Atlanta. Surrounded by upscale homes and ongoing development, this location offers strong growth and investment potential. Pictures are virtually decluttered. Property is owner-occupied. Appointment Only. Bring all offers — Motivated Seller!

6. 2026-03-11
   listed $490,000 Active 1044-char remark

   Show marketing remark (1044 chars)

   INVESTOR SPECIAL – Prime Location with Endless Potential! Exceptional opportunity in a highly sought-after Grant Park area! This property is perfect for investors or buyers looking to renovate and create their dream home. Situated on an oversized lot, the possibilities are endless — renovate the existing structure as a primary residence, rebuild, or explore the potential to develop two homes or a duplex. Ideally located just 4 miles from Zoo Atlanta in Grant Park, with walkable access to popular attractions and dining. Enjoy being minutes from the former Turner Field, now Center Parc Stadium, and only a 10-minute drive to Hartsfield-Jackson Atlanta International Airport, Downtown Atlanta, and Centennial Olympic Park. Just a short stroll to local favorites at The Beacon Atlanta. Surrounded by upscale homes and ongoing development, this location offers strong growth and investment potential. Pictures are virtually decluttered. Property is owner-occupied. Appointment Only. Bring all offers — Motivated Seller!

7. 2025-06-30
   historical
8. 2025-06-30
   historical
9. 2024-12-31
   price $395,000
10. 2024-12-31
    price $395,000
11. 2024-10-16
    price $415,000
12. 2024-10-16
    price $415,000
13. 2024-07-29
    price $450,000
14. 2024-07-29
    price $450,000
15. 2024-05-07
    price $495,000
16. 2024-05-07
    price $495,000
17. 2024-04-20
    listed $550,000 Active
18. 2024-04-17
    listed $550,000 New
19. 2023-09-07
    historical
20. 2023-02-06
    price $495,000
21. 2022-09-09
    listed $600,000 New

ⓘ 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: $1,165 · $97/mo
• Projected year-2 tax: $3,312 · $276/mo
• Expected delta: +$2,147/yr (+$179/mo · 184.4%)

ⓘ 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) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $42,120
• − Mortgage interest: −$20,166
• − Property taxes: −$1,165
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,370
• − Management: −$3,370
• − Depreciation: −$10,473
• Taxable income: $1,778
• Est. tax owed @ 24.0%: −$427
• After-tax cash flow: $7,229/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

-33.3% since first listed

19 events — show timeline

• 2026-04-24 Price Changed $400,000 GAMLS
• 2026-04-24 Price Changed $400,000 FMLS
• 2026-03-11 Listed $490,000 FMLS
• 2026-03-11 Listed $490,000 GAMLS
• 2025-06-30 Listing Removed — GAMLS
• 2025-06-30 Listing Removed — FMLS
• 2024-12-31 Price Changed $395,000 GAMLS
• 2024-12-31 Price Changed $395,000 FMLS
• 2024-10-16 Price Changed $415,000 FMLS
• 2024-10-16 Price Changed $415,000 GAMLS
• 2024-07-29 Price Changed $450,000 GAMLS
• 2024-07-29 Price Changed $450,000 FMLS
• 2024-05-07 Price Changed $495,000 GAMLS
• 2024-05-07 Price Changed $495,000 FMLS
• 2024-04-20 Listed $550,000 FMLS
• 2024-04-17 Listed $550,000 GAMLS
• 2023-09-07 Listing Removed — GAMLS
• 2023-02-06 Price Changed $495,000 GAMLS
• 2022-09-09 Listed $600,000 GAMLS

Property tax history

+0.9%/yr

Latest (2025): $1,165 · -50.4% YoY. Source: county tax records.