6354 Shannon Pkwy Unit 15C · Union City, GA 30291

$85,500

3 bd · 2.5 ba · 1,536 sqft · Condo public records · 1 Days on market

Built 1974 $220/mo HOA · 12% of rent

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Attention investors, renovators, and buyers looking to add value! This 3-bedroom, 2.5-bath townhome-style condominium in the established Old Virginia community offers is ready for a complete transformation. The property requires renovations and is being sold as-is, making it an excellent opportunity for an investor, flipper, or buyer seeking a project. Spacious floor plan with generous room sizes and the opportunity to customize the interior to your preferences. Conveniently located near shopping, dining, major highways, public transportation, and Hartsfield-Jackson Atlanta International Airport. Community amenities may include a pool, clubhouse, playground, and maintained common areas. Bring your vision and unlock the potential of this value-add opportunity. Cash or renovation financing may be preferred. No blind offers.

Key facts

• Community amenities
• Spacious floor plan
• Renovations

Tags

• COMPLETE TRANSFORMATION
• RENOVATIONS
• SPACIOUS FLOOR PLAN
• COMMUNITY AMENITIES
• VALUE-ADD OPPORTUNITY

Property features AI

Finance

• Other: Paved road access; Located in Fulton County, GA; Directions: From Hartsfield-Jackson Atlanta International Airport take I-85 South to Exit 64 (GA-138/Jonesboro Road). Turn right onto GA-138 W, then left onto Shannon Parkway. Continue to the Old Virginia Condominiums community and proceed to Unit 15C.
• Financial info: Community contains 1 unit
• HOA & community: Monthly association fee of $220; Association covers grounds maintenance, pest control, swimming, and trash; Community amenities include clubhouse, homeowners association, sidewalks, and street lights

Exterior

• Parking: Parking lot with 2 total parking spaces
• Utilities: Private water; Public sewer; 110 Volts and 220 Volts electric; Cable available; Phone available; Underground utilities; Water available; Sewer available; Electricity available
• Home design: Two levels; Condominium; Resale property
• Construction: Wood siding; Composition roof; Slab foundation
• Exterior features: Patio; Fenced

Interior

• Kitchen: Eat-in kitchen with laminate counters; Dishwasher; Electric range; Refrigerator
• Bedrooms: Three bedrooms on the upper level
• Flooring: Carpet; Laminate; Tile
• Bathrooms: Two full bathrooms; One half bathroom; Master bath with tub/shower combo
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Insulated windows; 2+ common walls; Other interior features
• Laundry & utility: Laundry located in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $86k.

Deal economics

• At list price, monthly cash flow is $683 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• Cap rate 15.9% vs local median 5.4% in Union City — 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 58/100 on livability (#443 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Fulton County (suburban): math 49% / reading 53% proficiency, ranked #12 of 174 in GA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gullatt Elementary School (math 12% / reading 17%, grade F, #996 of 1,228 statewide, top 83%, 747 students, 100% FRL); Camp Creek Middle School (math 17% / reading 32%, grade F, #301 of 470 statewide, top 66%, 644 students, 100% FRL); Creekside High School (math 30% / reading 24%, grade F, #160 of 424 statewide, top 38%, 1,768 students, 100% FRL) — zoned schools average 100% FRL vs 41% district-wide (59 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 51% district-wide (-29 pts) — the specific schools serving this property underperform the Fulton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.2%/yr); 167 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $1,884/mo this rent would consume 47% of the median local household income ($48k/yr) (locally 1778% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $9k of equity ($591 loan paydown + $9k appreciation (10.0% local appreciation)).
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 2.2% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 12y 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

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,500

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 2.20% ✓
• Cap rate: 15.88%
• Cash-on-cash: 34.25%
• DSCR: 2.52
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.2% rent growth · sell at horizon

5-year hold

• IRR: 50.0%
• Equity multiple: 4.71×
• Total profit: $88,745
• Equity at exit: $77,025

10-year hold

• IRR: 43.3%
• Equity multiple: 10.38×
• Total profit: $224,476
• Equity at exit: $166,108

Cash invested: $23,940 (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 30291

• Home prices YoY: 11.1%
• Rents YoY: 2.2%
• Active inventory: 167
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,884 high
• Mortgage (P&I): −$448
• Tax from tax record: −$101 /mo · $1,214/yr
• Insurance: −$36
• HOA: −$220
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $683

Break-even live

Break-even rent $1,019

Max offer price $85,500

Occupancy floor 59%

Sensitivity live

Price	-10% $732	-5% $708	+0% $683	+5% $659	+10% $635
Rent	-10% $535	-5% $609	+0% $683	+5% $758	+10% $832
Rate	-1.0pp $726	-0.5pp $705	base $683	+0.5pp $661	+1.0pp $639

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: $21,375
• Closing costs: $2,565
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4500 Shannon Blvd Unit 7A Union City, GA	3.0	2.5	2205	$2,000	$0.91	44d	1	0.15mi
4500 Shannon Blvd Unit 7 Union City, GA	3.0	2.5	1503	$1,750	$1.16	5d	1	0.15mi
4500 Shannon Blvd Unit 7A Union City, GA	3.0	2.5	2205	$1,750	$0.79	25d	1	0.15mi
5400 Oakley Commons Blvd Union City, GA	2.0	2.0	1258	$1,257	$1.00	44d	1	0.19mi
4701 Flat Shoals Rd Union City, GA	3.0	2.5–3.0	1600	$1,775	$1.11	3d	1	0.34mi
4659 Shannon Ct Union City, GA	3.0	2.5	2030	$1,945	$0.96	44d	1	0.35mi
5150 Oakley Commons Blvd Union City, GA	3.0	2.5	1375	$1,675	$1.22	25d	1	0.37mi
6425 Oakley Rd Union City, GA	1.0–3.0	1.0–2.0	1037	$1,502	$1.45	5d	18	0.40mi
3285 Oakley Pl Union City, GA	3.0	2.5	1350	$1,500	$1.11	44d	1	0.43mi
6350 Oakley Rd Union City, GA	3.0	2.0–2.5	1472	$1,796	$1.22	2d	4	0.46mi
4483 Flat Shoals Rd Union City, GA	1.0–2.0	1.0–2.5	957	$1,495	$1.56	44d	1	0.46mi
5201 Summer Brooke Ct Union City, GA	3.0	2.5	1484	$2,000	$1.35	2d	1	0.56mi
6085 Mallory Rdg #32 Union City, GA	3.0	3.5	1540	$2,300	$1.49	44d	1	0.59mi
5205 Alexander St Union City, GA	3.0	2.0	1326	$1,681	$1.27	44d	1	0.62mi
5200 Alexander St Union City, GA	3.0	2.0	1221	$1,695	$1.39	44d	1	0.65mi
6340 Westbrook Ave Union City, GA	3.0	2.0	1800	$2,100	$1.17	44d	1	0.66mi
4312 Smithgall Ct Union City, GA	3.0	2.5	1433	$2,000	$1.40	19d	1	0.69mi
6596 Woodwell Dr Union City, GA	3.0	2.5	1804	$2,215	$1.23	13d	1	0.72mi
3791 Shenfield Dr Union City, GA	3.0	2.5	1784	$2,086	$1.17	11d	1	0.79mi
6150 Mallory Rd Atlanta, GA	3.0	2.0	1681	$1,695	$1.01	11d	1	0.93mi
4128 Flat Trl Union City, GA	3.0	2.5	1450	$1,700	$1.17	44d	1	0.97mi
3855 Shenfield Dr Union City, GA	3.0	2.5	1626	$1,895	$1.17	44d	1	1.02mi
3859 Shenfield Dr Union City, GA	4.0	2.5	1850	$2,000	$1.08	6d	1	1.04mi
4014 Carisbrook Dr Union City, GA	4.0	2.5	1795	$2,195	$1.22	6d	1	1.09mi
4014 Carisbrook Dr Union City, GA	4.0	2.5	1795	$2,295	$1.28	25d	1	1.09mi
4014 Carisbrook Dr Union City, GA	4.0	2.5	1795	$2,295	$1.28	22d	1	1.09mi
6225 Shenfield Ln Union City, GA	3.0	2.5	1821	$2,000	$1.10	44d	1	1.11mi
6120 Longino Dr Union City, GA	4.0	2.0	1608	$1,835	$1.14	13d	1	1.14mi
5207 Dixie Lake Rd Union City, GA	3.0	2.0	1516	$1,950	$1.29	44d	1	1.14mi
6325 Raymond Ter Union City, GA	2.0	1.0	1624	$1,150	$0.71	44d	1	1.28mi
5140 Highpoint Rd Apt 27 Union City, GA	2.0	2.5	1290	$1,295	$1.00	13d	1	1.32mi
313 Ashigan St Union City, GA	3.0	2.5	1529	$1,775	$1.16	22d	1	1.38mi
306 Ashigan St Union City, GA	3.0	2.5	1560	$1,695	$1.09	44d	1	1.40mi
5950 Stonewall Dr Unit 4 Union City, GA	3.0	1.0	1320	$1,445	$1.09	3d	1	1.41mi
5950 Stonewall Dr Unit 2 Union City, GA	3.0	1.5	1320	$1,495	$1.13	16d	1	1.41mi
7200 Grosbeak St Union City, GA	2.0	2.5	1560	$1,500	$0.96	44d	1	1.41mi
7190 Gotland St Union City, GA	2.0	2.5	1500	$1,450	$0.97	13d	1	1.41mi
4050 Morgan Rd Union City, GA	1.0–3.0	1.0–2.0	988	$1,750	$1.77	6d	21	1.42mi
4456 Pinscher St Union City, GA	3.0	2.5	1560	$1,600	$1.03	44d	1	1.44mi

HOA detail condo

• Monthly dues: $220 · $2,640/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark

   Show marketing remark (833 chars)

   Attention investors, renovators, and buyers looking to add value! This 3-bedroom, 2.5-bath townhome-style condominium in the established Old Virginia community offers is ready for a complete transformation. The property requires renovations and is being sold as-is, making it an excellent opportunity for an investor, flipper, or buyer seeking a project. Spacious floor plan with generous room sizes and the opportunity to customize the interior to your preferences. Conveniently located near shopping, dining, major highways, public transportation, and Hartsfield-Jackson Atlanta International Airport. Community amenities may include a pool, clubhouse, playground, and maintained common areas. Bring your vision and unlock the potential of this value-add opportunity. Cash or renovation financing may be preferred. No blind offers.

2. 2026-06-17
   listed $85,500 Active 1 DOM

   Show marketing remark (833 chars)

   Attention investors, renovators, and buyers looking to add value! This 3-bedroom, 2.5-bath townhome-style condominium in the established Old Virginia community offers is ready for a complete transformation. The property requires renovations and is being sold as-is, making it an excellent opportunity for an investor, flipper, or buyer seeking a project. Spacious floor plan with generous room sizes and the opportunity to customize the interior to your preferences. Conveniently located near shopping, dining, major highways, public transportation, and Hartsfield-Jackson Atlanta International Airport. Community amenities may include a pool, clubhouse, playground, and maintained common areas. Bring your vision and unlock the potential of this value-add opportunity. Cash or renovation financing may be preferred. No blind offers.

ⓘ 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: $1,214 · $101/mo
• Projected year-2 tax: $1,214 · $101/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 20 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: $22,610
• − Mortgage interest: −$4,789
• − Property taxes: −$1,214
• − Insurance: −$428
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − HOA: −$2,640
• − Depreciation: −$2,487
• Taxable income: $7,435
• Est. tax owed @ 24.0%: −$1,784
• After-tax cash flow: $6,416/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: Fulton County
• NCES district ID: 1302280
• Math proficiency: 49% ▼ -2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $68,035
• Composite: 45.33/100
• National rank: #2640
• State rank: #12 of 174 in GA

Livability — Union City

• Score: 58/100
• State rank: #443
• US rank: #21281

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment F Housing A+ Health & safety F User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Union City, GA
• County: Fulton County · 1,094,430 people
• City population: 25,130
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 25,130
• Household income: $48,184
• Rent vs Own: 61.3% rent · 38.7% own
• Severe rent burden: 1778.0

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 (86%)
• Race & ethnicity: Black 86% Hispanic / Latino 7% Two or more races 6% White 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▲ 23.98%
• Current HPI: 239.3471
• Rent YoY: ▲ 2.20%
• 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

+100.2% since first listed

31 events — show timeline

• 2026-06-17 Listed $85,500 FMLS
• 2026-06-17 Listed $85,500 GAMLS
• 2023-04-18 Sold (Public Records) $85,000 Public Records
• 2023-04-04 Pending — FMLS
• 2023-03-31 Sold (MLS) $85,000 GAMLS
• 2023-03-31 Sold (MLS) $85,000 FMLS
• 2023-03-22 Pending — GAMLS
• 2023-03-17 Price Changed $87,500 GAMLS
• 2023-03-13 Relisted — GAMLS
• 2023-02-28 Pending — GAMLS
• 2023-01-31 Listed $99,000 GAMLS
• 2023-01-30 Listed $99,500 FMLS
• 2017-04-27 Sold (Public Records) $35,000 Public Records
• 2017-04-13 Sold (MLS) $35,000 GAMLS
• 2017-04-13 Sold (MLS) $35,000 FMLS
• 2017-03-28 Pending — GAMLS
• 2017-03-28 Contingent — FMLS
• 2017-03-09 Listed $40,000 GAMLS
• 2017-03-08 Listed $40,000 FMLS
• 2017-03-01 Listing Removed — GAMLS
• 2016-12-07 Listed $45,000 GAMLS
• 2015-10-22 Sold (MLS) $21,000 MGMLS
• 2015-08-12 Listed $21,250 MGMLS
• 2014-11-22 Listing Removed — GAMLS
• 2014-11-21 Relisted — GAMLS
• 2014-10-31 Pending — GAMLS
• 2014-09-20 Listing Removed — GAMLS
• 2014-06-16 Price Changed $28,000 GAMLS
• 2014-05-13 Listed $29,900 GAMLS
• 2002-05-03 Sold (Public Records) $74,000 Public Records
• 1996-01-02 Sold (Public Records) $42,700 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,214 · +46.9% YoY. Source: county tax records.