626 Mcgill NE #626 · Atlanta, GA 30312

$430,000

4 bd · 3.5 ba · 2,053 sqft · Condo · 47 Days on market

Built 1987 $209/sqft · 39% below area Est $702k · 39% under $450/mo HOA · 9% of rent

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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 +19.4/30.0
• ARV discount +15.0/15.0
• 1% rule +6.5/10.0
• DSCR +6.1/10.0
• 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

Listing remarks MLS

McGill Place, a gated community, is located in the revitalized area of Old Fourth Ward. Known for it's large trees, lush landscaping and greenspaces, yet so close to the business districts of Midtown/Downtown Atlanta, this intown community has it all, including a swimming pool for hot summer days and nights. 626 is one of the few 3 bedroom units in the complex, and with its finished basement, a 4th bedroom suite is certainly possible. The main level has a well appointed kitchen w/granite countertops, stainless steel appliances, and a open pass through to the home's dining area. The living room/dining room open concept leaves you plenty of options for furniture placement and layout. The gas log fireplace can be a lovely focal point of the room or you can focus on the French Doors that open to the covered porch, ideal for outdoor entertaining. There's a half bath and a separate laundry room on this floor that houses home's main mechanicals as well. Take the stairs to the upper level where you'll find the Primary Bedroom and 2 Guest rooms. The Primary bath is spacious with an extra long double vanity and a large walk-in shower. The walk in closet is "hidden" behind a decorative mirror. The secondary bath is also updated and has granite countertops and designer tile. Both gust rooms face the front of the home, while the primary bedroom has the French Door access to the private covered porch. Hardwood floors run through most of the first two floors of living space. The lower level of the home is a large versatile space, with egress from a window or the door to the covered porch. Having a closet and a full bath, this is an ideal setup for a 4th bedroom suite. You'll love how much space and storage you'll have in this condo with 3 full floors of living space and the private covered porches on every level. Come see how warm and cozy intown living can be.

Key facts

• Gated community
• Covered porch
• Swimming pool

Tags

• GATED COMMUNITY
• SWIMMING POOL
• FINISHED BASEMENT
• GAS LOG FIREPLACE
• FRENCH DOORS
• COVERED PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath condo listed at $430k.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $430k).
• Recommended offer: $417k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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); 237 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $4,935/mo this rent would consume 72% of the median local household income ($83k/yr) (locally 2010% 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 $3k of loan paydown is wiped out by about $13k 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 47 days — a 3% lower offer ($417k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $417,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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: 1.15% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.75%
• DSCR: 1.21
• GRM: 7.3

CMA / ARV

• ARV (median comp): $702,185
• List price: $430,000
• Delta: -38.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.84% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-39,750
• Equity at exit: $64,114

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $2,675
• Equity at exit: $37,179

Cash invested: $120,400 (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 30312

• Rents YoY: 2.8%
• Active inventory: 237
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $4,935 high
• Mortgage (P&I): −$2,255
• Tax est. 1.5%: −$538 /mo · $6,450/yr
• Insurance: −$179
• HOA: −$450
• Vacancy / Maint / Mgmt: −$1,036
• Net cashflow: $477

Break-even live

Break-even rent $4,331

Max offer price $430,000

Occupancy floor 85%

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: $107,500
• Closing costs: $12,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Central Park Pl NE Atlanta, GA	3.0	1.0–2.0	1013	$3,072	$3.03	2d	19	0.12mi
384 Ralph McGill Blvd NE #410 Atlanta, GA	3.0	3.0	1444	$3,400	$2.35	19d	1	0.13mi
456 Parkway Dr NE #9 Atlanta, GA	3.0	2.5	2085	$3,350	$1.61	8d	1	0.22mi
505 Courtland St NE Atlanta, GA	3.0	1.0–2.0	982	$3,672	$3.74	2d	26	0.45mi
570 Morgan St NE Unit A Atlanta, GA	4.0	2.5	2513	$8,500	$3.38	19d	1	0.57mi
131 Ponce de Leon Ave NE Atlanta, GA	4.0	1.0–4.0	1411	$3,995	$2.83	2d	17	0.58mi
222 Lampkin St NE Atlanta, GA	3.0	3.0	1940	$6,500	$3.35	24d	1	0.65mi
161 Peachtree Center Ave NE Atlanta, GA	3.0	1.0–3.5	1474	$5,714	$3.88	1d	27	0.65mi
693 Peachtree St NE Atlanta, GA	1.0–3.0	1.5–2.5	1585	$8,930	$5.63	2d	7	0.73mi
715 Ralph McGill Blvd NE Atlanta, GA	3.0	3.0	2150	$9,975	$4.64	5d	1	0.76mi
225 Sampson St NE Unit 220 A Atlanta, GA	4.0	2.0	1900	$3,800	$2.00	24d	1	0.77mi
787 Myrtle St NE Unit 1 Atlanta, GA	3.0	2.0	2300	$6,500	$2.83	24d	1	0.78mi
700 Rankin St NE Atlanta, GA	3.0	1.0–2.5	1035	$5,956	$5.75	2d	18	0.78mi
658 Irwin St NE #15 Atlanta, GA	3.0	2.5	1742	$4,400	$2.53	14d	1	0.79mi
69 Randolph St NE Unit A Atlanta, GA	3.0	2.0	1590	$4,500	$2.83	24d	1	0.81mi
699 Spring St NW Atlanta, GA	5.0	1.0–5.0	1434	$6,336	$4.42	24d	1	0.89mi
71 Lucy St SE #4 Atlanta, GA	3.0	4.5	2645	$3,600	$1.36	5d	1	0.90mi
661 Auburn Ave NE #16 Atlanta, GA	3.0	3.5	2561	$9,000	$3.51	24d	1	0.91mi
661 Auburn Ave NE #16 Atlanta, GA	3.0	3.5	2561	$9,000	$3.51	15d	1	0.91mi
68 Boulevard SE Atlanta, GA	3.0	3.5	2300	$5,200	$2.26	24d	1	0.92mi
74 Boulevard SE Atlanta, GA	3.0	2.0	2510	$4,000	$1.59	19d	1	0.93mi
67 Daniel St SE Atlanta, GA	4.0	2.0	1650	$1,999	$1.21	24d	1	0.94mi
395 8th St NE Atlanta, GA	3.0	2.5	1554	$4,250	$2.73	24d	1	1.00mi
888 Juniper St NE Atlanta, GA	1.0–3.0	1.0–3.0	1439	$6,264	$4.35	3d	25	1.01mi
670 DeKalb Ave NE Atlanta, GA	3.0	1.0–2.0	1121	$4,327	$3.86	2d	35	1.03mi
903 Peachtree St NE Atlanta, GA	3.0	1.0–2.5	945	$4,159	$4.40	2d	56	1.06mi
95 8th St NW Atlanta, GA	3.0	1.0–2.0	1011	$4,102	$4.06	2d	38	1.10mi
970 Charles Allen Dr NE Unit D Atlanta, GA	3.0	2.5	1700	$5,000	$2.94	21d	1	1.13mi
692 Drewry St NE Atlanta, GA	4.0	3.5	2217	$8,500	$3.83	24d	1	1.15mi
230 Martin Luther King Jr Dr SE Atlanta, GA	3.0	1.0–3.0	979	$3,190	$3.26	2d	21	1.16mi
781 Greenwood Ave NE Atlanta, GA	4.0	3.5	2760	$9,950	$3.61	24d	1	1.18mi
180 10th St NE Atlanta, GA	1.0–3.0	1.0–3.0	1345	$8,100	$6.02	1d	21	1.21mi
745 Kirkwood Ave SE Atlanta, GA	3.0	3.5	1812	$5,500	$3.04	22d	1	1.30mi
174 Estoria St SE Atlanta, GA	3.0	3.5	2000	$6,000	$3.00	21d	1	1.31mi
205 12th St NE Atlanta, GA	1.0–3.0	1.0–2.0	1707	$8,175	$4.79	1d	9	1.33mi
720 Mollie St SE Atlanta, GA	3.0	2.0	1500	$5,000	$3.33	21d	1	1.34mi
249 Powell St SE Atlanta, GA	3.0	2.0	1800	$3,500	$1.94	24d	1	1.35mi
1081 Juniper St NE Atlanta, GA	3.0	1.0–3.5	1375	$18,230	$13.26	3d	105	1.35mi
829 Barnett St NE Atlanta, GA	4.0	3.5	2400	$6,500	$2.71	24d	1	1.36mi
1000 Spring St NW Atlanta, GA	3.0	1.0–3.0	1001	$6,608	$6.60	2d	16	1.36mi

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Likely covers: gaslandscapingpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-01
   status $430,000 Pending 47 DOM
2. 2026-05-31
   days on market $430,000 Active 47 DOM
3. 2026-04-13
   listed $430,000 New 1888-char remark

   Show marketing remark (1888 chars)

   McGill Place, a gated community, is located in the revitalized area of Old Fourth Ward. Known for it's large trees, lush landscaping and greenspaces, yet so close to the business districts of Midtown/Downtown Atlanta, this intown community has it all, including a swimming pool for hot summer days and nights. 626 is one of the few 3 bedroom units in the complex, and with its finished basement, a 4th bedroom suite is certainly possible. The main level has a well appointed kitchen w/granite countertops, stainless steel appliances, and a open pass through to the home's dining area. The living room/dining room open concept leaves you plenty of options for furniture placement and layout. The gas log fireplace can be a lovely focal point of the room or you can focus on the French Doors that open to the covered porch, ideal for outdoor entertaining. There's a half bath and a separate laundry room on this floor that houses home's main mechanicals as well. Take the stairs to the upper level where you'll find the Primary Bedroom and 2 Guest rooms. The Primary bath is spacious with an extra long double vanity and a large walk-in shower. The walk in closet is "hidden" behind a decorative mirror. The secondary bath is also updated and has granite countertops and designer tile. Both gust rooms face the front of the home, while the primary bedroom has the French Door access to the private covered porch. Hardwood floors run through most of the first two floors of living space. The lower level of the home is a large versatile space, with egress from a window or the door to the covered porch. Having a closet and a full bath, this is an ideal setup for a 4th bedroom suite. You'll love how much space and storage you'll have in this condo with 3 full floors of living space and the private covered porches on every level. Come see how warm and cozy intown living can be.

4. 2026-04-13
   listed $430,000 Active 1888-char remark

   Show marketing remark (1888 chars)

   McGill Place, a gated community, is located in the revitalized area of Old Fourth Ward. Known for it's large trees, lush landscaping and greenspaces, yet so close to the business districts of Midtown/Downtown Atlanta, this intown community has it all, including a swimming pool for hot summer days and nights. 626 is one of the few 3 bedroom units in the complex, and with its finished basement, a 4th bedroom suite is certainly possible. The main level has a well appointed kitchen w/granite countertops, stainless steel appliances, and a open pass through to the home's dining area. The living room/dining room open concept leaves you plenty of options for furniture placement and layout. The gas log fireplace can be a lovely focal point of the room or you can focus on the French Doors that open to the covered porch, ideal for outdoor entertaining. There's a half bath and a separate laundry room on this floor that houses home's main mechanicals as well. Take the stairs to the upper level where you'll find the Primary Bedroom and 2 Guest rooms. The Primary bath is spacious with an extra long double vanity and a large walk-in shower. The walk in closet is "hidden" behind a decorative mirror. The secondary bath is also updated and has granite countertops and designer tile. Both gust rooms face the front of the home, while the primary bedroom has the French Door access to the private covered porch. Hardwood floors run through most of the first two floors of living space. The lower level of the home is a large versatile space, with egress from a window or the door to the covered porch. Having a closet and a full bath, this is an ideal setup for a 4th bedroom suite. You'll love how much space and storage you'll have in this condo with 3 full floors of living space and the private covered porches on every level. Come see how warm and cozy intown living can be.

5. 2016-10-16
   historical
6. 2016-08-16
   status Active
7. 2016-07-22
   historical Pending
8. 2016-06-29
   price $285,000
9. 2016-06-06
   listed $295,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $59,217
• − Mortgage interest: −$24,087
• − Property taxes: −$6,450
• − Insurance: −$2,150
• − Repairs & maintenance: −$4,737
• − Management: −$4,737
• − HOA: −$5,400
• − Depreciation: −$12,509
• Taxable loss: −$853
• Est. tax savings @ 24.0%: +$205
• After-tax cash flow: $5,927/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): 26,942
• Household income: $82,779
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2010.0

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 0.62)
• Race & ethnicity: Black 46% White 41% Hispanic / Latino 6% Two or more races 5% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 1% Chinese 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: ▼ -507.19%
• Current HPI: 240.8692
• Rent YoY: ▲ 2.84%
• 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

+45.8% since first listed

7 events — show timeline

• 2026-04-13 Listed $430,000 FMLS
• 2026-04-13 Listed $430,000 GAMLS
• 2016-10-16 Listing Removed — FMLS
• 2016-08-16 Relisted — FMLS
• 2016-07-22 Contingent — FMLS
• 2016-06-29 Price Changed $285,000 FMLS
• 2016-06-06 Listed $295,000 FMLS