1309 Pine Heights Dr NE · Atlanta, GA 30324

$215,000

2 bd · 2.0 ba · 1,510 sqft · Condo public records · 202 Days on market

Built 1986 $142/sqft · 19% below area Est $264k · 19% under $663/mo HOA · 30% of rent ↓ 11% since listing

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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 +6.9/30.0
• 1% rule +5.3/10.0
• Livability +4.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom, 2 bath top-level condo in the heart of Atlanta offering comfort and privacy, yet only minutes to all of the best attractions in Atlanta, ie; Mercedes-Benz stadium, The World of Coca Cola, Centennial Olympic Park, The Georgia Aquarium, College Football Hall of Fame. Located only 2 miles from Phipps Plaza Mall with designer boutiques. This condo offers rare double-sided fireplace warming both the living room and the primary bedroom, adding a luxury touch to the home's open layout. The kitchen features stainless steel appliances and connects smoothly to both the living room and a dedicated dining area-ideal for hosting. The laundry area is located in the hallway between the master bedroom and the dining room. The private balcony is located just off the living room. Each bedroom has its own full bath positioned directly off the room, providing privacy and a true suite-style feel for both occupants. Community amenities include a pool, clubhouse, tennis courts, and two assigned underground parking spaces with elevator access from the garage or first floor to the unit level. Situated close to top shopping, dining, and major interstates, this condo delivers effortless urban living in one of Atlanta's most convenient locations. NO SHORT TERM RENTALS, NO AIR BNB'S

Key facts

• Clubhouse
• Private balcony
• Community amenities

Tags

• DOUBLE-SIDED FIREPLACE
• PRIVATE BALCONY
• STAINLESS STEEL APPLIANCES
• COMMUNITY AMENITIES
• POOL
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-323 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (26.5% below list).
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $158k (26.5% below list) — sets the bar for cash-flow.
• Cap rate 4.5% 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 flat; 327 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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 (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 202 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $65k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,021 (26.5% 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 202 days. Have you received any prior offers? Is the seller open to a 27% 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: 1.03% ✓
• Cap rate: 4.49%
• Cash-on-cash: -6.43%
• DSCR: 0.71
• GRM: 8.1

CMA / ARV

• ARV (median comp): $263,955
• List price: $215,000
• Delta: -18.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.04% rent growth · sell at horizon

5-year hold

• IRR: -32.2%
• Equity multiple: -0.02×
• Total profit: $-61,374
• Equity at exit: $32,057

10-year hold

• IRR: -71.2%
• Equity multiple: -0.71×
• Total profit: $-102,995
• Equity at exit: $18,589

Cash invested: $60,200 (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 30324

• Rents YoY: 0.0%
• Active inventory: 327
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,206 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$185 /mo · $2,223/yr
• Insurance: −$90
• HOA: −$663
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $-323

Break-even live

Break-even rent $2,614

Max offer price $158,021

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3312 Pine Heights Dr NE Atlanta, GA	2.0	2.0	1249	$1,995	$1.60	24d	1	0.03mi
2301 Pine Heights Dr NE Atlanta, GA	2.0	2.0	1249	$2,100	$1.68	19d	1	0.05mi
2770 Lenox Rd NE Atlanta, GA	2.0	2.0	1262	$1,930	$1.53	3d	1	0.09mi
2680 Pine Tree Rd NE #3 Atlanta, GA	3.0	2.5	1866	$2,900	$1.55	4d	1	0.13mi
925 Canterbury Rd NE Atlanta, GA	1.0–3.0	1.0–2.0	1547	$2,082	$1.35	1d	29	0.17mi
2500 Pine Tree Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	875	$1,879	$2.15	24d	1	0.22mi
2865 Lenox Rd NE Atlanta, GA	2.0	2.0	1659	$2,798	$1.69	7d	2	0.25mi
2865 Lenox Rd NE #407 Atlanta, GA	2.0	2.0	2045	$3,200	$1.56	20d	1	0.25mi
19 Brittany Way NE Atlanta, GA	3.0	2.0	1550	$2,595	$1.67	10d	1	0.25mi
19 Brittany Way NE Atlanta, GA	3.0	2.0	1550	$2,550	$1.65	10d	1	0.25mi
603 Summit North Dr NE #603 Atlanta, GA	2.0	2.0	1280	$1,800	$1.41	2d	1	0.29mi
603 Summit North Dr NE #603 Atlanta, GA	2.0	2.0	1280	$1,800	$1.41	7d	1	0.29mi
207 Lenox Rd NE Unit 207 Atlanta, GA	2.0	2.0	1105	$2,250	$2.04	24d	1	0.31mi
201 Lenox Way NE Atlanta, GA	2.0	2.0	1228	$2,000	$1.63	24d	1	0.34mi
2572 Lenox Rd NE Atlanta, GA	1.0–3.0	1.0–2.0	936	$1,600	$1.71	24d	1	0.36mi
2921 Lenox Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	1177	$2,000	$1.70	22d	2	0.37mi
740 Sidney Marcus Blvd NE Atlanta, GA	1.0–2.0	1.0–2.0	882	$1,819	$2.06	1d	21	0.40mi
27301 Plantation Dr NE Atlanta, GA	3.0	2.0	1820	$2,750	$1.51	4d	1	0.43mi
2671 Rivers Edge Dr NE Atlanta, GA	3.0	3.5	2033	$3,295	$1.62	13d	1	0.51mi
23311 Plantation Dr NE Atlanta, GA	2.0	2.0	1224	$2,000	$1.63	24d	1	0.54mi
23212 Plantation Dr NE Atlanta, GA	2.0	2.0	1224	$2,100	$1.72	24d	1	0.54mi
761 Morosgo Dr NE Atlanta, GA	2.0	1.0–2.0	980	$2,109	$2.15	2d	15	0.55mi
25312 Plantation Dr NE Atlanta, GA	2.0	2.0	1318	$2,350	$1.78	4d	1	0.55mi
25216 Plantation Dr NE Atlanta, GA	2.0	2.0	1462	$2,600	$1.78	24d	1	0.55mi
711 Cosmopolitan Dr NE Atlanta, GA	1.0–2.0	1.5–2.5	1177	$2,823	$2.40	22d	4	0.62mi
741 Morosgo Dr NE Atlanta, GA	2.0	1.0–2.0	965	$2,175	$2.25	1d	20	0.62mi
2380 Strathmore Dr NE Atlanta, GA	2.0	1.0	1116	$2,400	$2.15	24d	1	0.63mi
2591 Piedmont Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	1019	$2,038	$2.00	1d	20	0.64mi
3047 Lenox Rd NE #2308 Atlanta, GA	2.0	2.0	1668	$3,000	$1.80	17d	1	0.65mi
1680 Chantilly Dr NE Atlanta, GA	1.0–2.0	1.0–2.0	800	$1,542	$1.93	2d	19	0.68mi
1685 Dunwoody Pl NE Unit Top Atlanta, GA	3.0	2.0	1515	$2,395	$1.58	17d	1	0.71mi
1685 Dunwoody Pl NE Unit Top Atlanta, GA	3.0	2.0	1515	$2,395	$1.58	43d	1	0.71mi
658 Lindbergh Dr NE Atlanta, GA	1.0–2.0	1.0–2.0	1022	$3,171	$3.10	3d	22	0.72mi
2399 Parkland Dr NE Atlanta, GA	2.0	1.0–2.0	935	$1,997	$2.14	2d	49	0.75mi
2400 Parkland Dr NE Atlanta, GA	1.0–3.0	1.0–2.0	1027	$1,904	$1.85	1d	19	0.80mi
1227 Sheridan Rd NE Atlanta, GA	3.0	3.0	2168	$4,500	$2.08	19d	1	0.84mi
2724 Atwood Rd NE Atlanta, GA	3.0	2.5	2162	$4,600	$2.13	7d	1	0.84mi
1155 Lavista Rd NE Atlanta, GA	2.0–3.0	2.0	1180	$2,038	$1.73	2d	16	0.88mi
2226 Melante Dr NE Atlanta, GA	3.0	2.0	1729	$5,900	$3.41	24d	1	0.89mi
2323 Piedmont Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	984	$2,326	$2.36	1d	30	0.89mi

HOA detail condo

• Monthly dues: $663 · $7,956/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $215,000 Active 202 DOM
2. 2026-06-17
   pricedays on market $215,000 Active 201 DOM
3. 2026-06-16
   days on market $250,000 Active 200 DOM
4. 2026-06-15
   days on market $250,000 Active 199 DOM
5. 2026-06-13
   days on market $250,000 Active 197 DOM
6. 2026-06-13
   days on market $250,000 Active 196 DOM
7. 2026-06-09
   days on market $250,000 Active 193 DOM
8. 2026-06-08
   days on market $250,000 Active 192 DOM
9. 2026-06-07
   days on market $250,000 Active 191 DOM
10. 2026-06-04
    days on market $250,000 Active 188 DOM
11. 2026-06-03
    days on market $250,000 Active 187 DOM
12. 2026-06-02
    days on market $250,000 Active 186 DOM
13. 2026-06-01
    days on market $250,000 Active 185 DOM
14. 2026-05-31
    days on market $250,000 Active 184 DOM
15. 2026-04-09
    price $250,000 1290-char remark

    Show marketing remark (1274 chars)

    2 bedroom, 2 bath top-level condo in the heart of Atlanta offering comfort and privacy, yet only minutes to all of the best attractions in Atlanta, ie; Mercedes-Benz stadium, The World of Coca Cola, Centennial Olympic Park, The Georgia Aquarium, College Football Hall of Fame. Located only 2 miles from Phipps Plaza Mall with designer boutiques. This condo offers rare double-sided fireplace warming both the living room and the primary bedroom, adding a luxury touch to the home's open layout. The kitchen features stainless steel appliances and connects smoothly to both the living room and a dedicated dining area-ideal for hosting. The laundry area is located in the hallway between the master bedroom and the dining room. The private balcony is located just off the living room. Each bedroom has its own full bath positioned directly off the room, providing privacy and a true suite-style feel for both occupants. BRAND NEW HVAC SYSTEM. Community amenities include a pool, clubhouse, tennis courts, and two assigned underground parking spaces with elevator access from the garage or first floor to the unit level. Situated close to top shopping, dining, and major interstates, this condo delivers effortless urban living in one of Atlanta's most convenient locations.

16. 2026-04-09
    price $250,000 1274-char remark

    Show marketing remark (1274 chars)

    2 bedroom, 2 bath top-level condo in the heart of Atlanta offering comfort and privacy, yet only minutes to all of the best attractions in Atlanta, ie; Mercedes-Benz stadium, The World of Coca Cola, Centennial Olympic Park, The Georgia Aquarium, College Football Hall of Fame. Located only 2 miles from Phipps Plaza Mall with designer boutiques. This condo offers rare double-sided fireplace warming both the living room and the primary bedroom, adding a luxury touch to the home's open layout. The kitchen features stainless steel appliances and connects smoothly to both the living room and a dedicated dining area-ideal for hosting. The laundry area is located in the hallway between the master bedroom and the dining room. The private balcony is located just off the living room. Each bedroom has its own full bath positioned directly off the room, providing privacy and a true suite-style feel for both occupants. BRAND NEW HVAC SYSTEM. Community amenities include a pool, clubhouse, tennis courts, and two assigned underground parking spaces with elevator access from the garage or first floor to the unit level. Situated close to top shopping, dining, and major interstates, this condo delivers effortless urban living in one of Atlanta's most convenient locations.

17. 2025-11-25
    listed $279,900 New 1274-char remark

    Show marketing remark (1290 chars)

    2 bedroom, 2 bath top-level condo in the heart of Atlanta offering comfort and privacy, yet only minutes to all of the best attractions in Atlanta, ie; Mercedes-Benz stadium, The World of Coca Cola, Centennial Olympic Park, The Georgia Aquarium, College Football Hall of Fame. Located only 2 miles from Phipps Plaza Mall with designer boutiques. This condo offers rare double-sided fireplace warming both the living room and the primary bedroom, adding a luxury touch to the home's open layout. The kitchen features stainless steel appliances and connects smoothly to both the living room and a dedicated dining area-ideal for hosting. The laundry area is located in the hallway between the master bedroom and the dining room. The private balcony is located just off the living room. Each bedroom has its own full bath positioned directly off the room, providing privacy and a true suite-style feel for both occupants. Community amenities include a pool, clubhouse, tennis courts, and two assigned underground parking spaces with elevator access from the garage or first floor to the unit level. Situated close to top shopping, dining, and major interstates, this condo delivers effortless urban living in one of Atlanta's most convenient locations. NO SHORT TERM RENTALS, NO AIR BNB'S

18. 2025-11-25
    listed $279,900 Active 1290-char remark

    Show marketing remark (1290 chars)

    2 bedroom, 2 bath top-level condo in the heart of Atlanta offering comfort and privacy, yet only minutes to all of the best attractions in Atlanta, ie; Mercedes-Benz stadium, The World of Coca Cola, Centennial Olympic Park, The Georgia Aquarium, College Football Hall of Fame. Located only 2 miles from Phipps Plaza Mall with designer boutiques. This condo offers rare double-sided fireplace warming both the living room and the primary bedroom, adding a luxury touch to the home's open layout. The kitchen features stainless steel appliances and connects smoothly to both the living room and a dedicated dining area-ideal for hosting. The laundry area is located in the hallway between the master bedroom and the dining room. The private balcony is located just off the living room. Each bedroom has its own full bath positioned directly off the room, providing privacy and a true suite-style feel for both occupants. Community amenities include a pool, clubhouse, tennis courts, and two assigned underground parking spaces with elevator access from the garage or first floor to the unit level. Situated close to top shopping, dining, and major interstates, this condo delivers effortless urban living in one of Atlanta's most convenient locations. NO SHORT TERM RENTALS, NO AIR BNB'S

ⓘ 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: $2,223 · $185/mo
• Projected year-2 tax: $2,223 · $185/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,472
• − Mortgage interest: −$12,043
• − Property taxes: −$2,223
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,118
• − Management: −$2,118
• − HOA: −$7,956
• − Depreciation: −$6,255
• Taxable loss: −$7,315
• Est. tax savings @ 24.0%: +$1,756
• After-tax cash flow: $-2,115/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): 29,073
• Household income: $92,122
• Rent vs Own: 61.7% rent · 38.3% own
• Severe rent burden: 2749.0

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 0.66)
• Race & ethnicity: White 51% Black 24% Asian 12% Two or more races 9% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Italian 2% Serbian 2%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 80% English-only · Spanish 5% Other Indo-European 4% Other Asian/Pacific 3%

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: ▼ -476.16%
• Current HPI: 187.7587
• Rent YoY: ▬ 0.04%
• 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

-10.7% since first listed

4 events — show timeline

• 2026-04-09 Price Changed $250,000 FMLS
• 2026-04-09 Price Changed $250,000 GAMLS
• 2025-11-25 Listed $279,900 FMLS
• 2025-11-25 Listed $279,900 GAMLS

Property tax history

+2.5%/yr

Latest (2025): $2,223 · -3.0% YoY. Source: county tax records.