2965 Pharr Court South NW #512 · Atlanta, GA 30305

$185,000

2 bd · 2.0 ba · 1,063 sqft · Condo public records · 89 Days on market

Built 1958 $174/sqft · at area comps Est $180k · at est. $685/mo HOA · 27% 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).

• Cash flow +12.7/30.0
• 1% rule +8.6/10.0
• ARV discount +6.2/15.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• Rent growth +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to luxury living in the heart of Buckhead! This fully upgraded 2-bedroom, 2-bath condo at Slaton Manor (Unit 512) offers an elegant retreat within walking distance to Buckhead's finest shopping, dining, and entertainment. Enjoy an open-concept layout with a chic breakfast bar overlooking a stylish living space adorned with custom accent walls. The gourmet kitchen boasts quartz countertops, stainless steel appliances, and a designer backsplash. This home comes fully integrated with Google Smart Home technology, making your living experience both luxurious and convenient. HOA fees cover water, gas, trash, and pool access, simplifying your budget. Rental restrictions apply, but annual leases can be approved. No pets, unless service animals. Plus, enjoy garage parking with a coveted spot rarely available! This is your chance to live Buckhead luxury, with all the convenience and style you deserve.

Key facts

• Quartz countertops
• Chic breakfast bar
• Gourmet kitchen

Tags

• FULLY UPGRADED
• OPEN-CONCEPT LAYOUT
• CHIC BREAKFAST BAR
• GOURMET KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (8.2% below list).
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $170k (8.2% below list) — sets the bar for cash-flow.
• Cap rate 6.2% 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 (+4.8%/yr); 421 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 89 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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

• Watch-outs: flood insurance adds $66/mo; HOA is 27% of rent; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,785 (8.2% 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 89 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 1.36% ✓
• Cap rate: 6.17%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 6.1

CMA / ARV

• ARV (median comp): $179,976
• List price: $185,000
• Delta: 2.79%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.75% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.41×
• Total profit: $-30,410
• Equity at exit: $27,584

10-year hold

• IRR: -3.1%
• Equity multiple: 0.77×
• Total profit: $-12,155
• Equity at exit: $15,995

Cash invested: $51,800 (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 30305

• Rents YoY: 4.8%
• Active inventory: 421
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,524 high
• Mortgage (P&I): −$970
• Tax from tax record: −$282 /mo · $3,381/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$685
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $-86

Break-even live

Break-even rent $2,633

Max offer price $169,785

Occupancy floor 98%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2965 Pharr Court South NW #704 Atlanta, GA	2.0	2.0	1067	$2,600	$2.44	24d	1	0.02mi
2965 S Pharr Ct NW #316 Atlanta, GA	2.0	2.0	1012	$1,750	$1.73	2d	1	0.02mi
2870 Pharr Rd NE Atlanta, GA	1.0	1.0	807	$1,700	$2.11	2d	1	0.11mi
2870 S Pharr Court NW Unit 2001 Atlanta, GA	2.0	2.0	1260	$2,100	$1.67	7d	1	0.16mi
2870 S Pharr Court NW Unit 1009 Atlanta, GA	1.0	1.0	807	$1,895	$2.35	17d	1	0.16mi
2870 S Pharr Court NW Unit 2602 Atlanta, GA	1.0	1.0	1260	$2,100	$1.67	1d	1	0.16mi
3057 N Pharr Court NW Apt E2 Atlanta, GA	2.0	2.0	1000	$1,850	$1.85	24d	1	0.19mi
2955 Peachtree Rd Atlanta, GA	1.0	2.0	1003	$4,280	$4.27	3d	1	0.20mi
2965 Peachtree Rd NE Atlanta, GA	1.0–3.0	1.5–3.0	1499	$6,007	$4.01	2d	14	0.21mi
2840 Peachtree Rd NW Atlanta, GA	1.0–2.0	1.0–2.0	2187	$3,990	$1.82	4d	2	0.22mi
3005 Peachtree Rd NE Atlanta, GA	3.0	1.0–2.0	971	$3,192	$3.29	1d	36	0.24mi
2855 Peachtree Rd NE #101 Atlanta, GA	2.0	2.5	1277	$1,900	$1.49	13d	1	0.24mi
2855 Peachtree Rd NE #201 Atlanta, GA	2.0	2.0	1179	$1,995	$1.69	21d	1	0.24mi
52 Delmont Dr NE Unit 2 Atlanta, GA	1.0	1.0	1000	$1,595	$1.59	5d	1	0.25mi
92 W Paces Ferry Rd NW Atlanta, GA	1.0–2.0	1.0–2.0	1163	$3,159	$2.72	1d	16	0.26mi
3040 Peachtree Rd NW #813 Atlanta, GA	1.0	1.0	761	$2,300	$3.02	2d	1	0.28mi
3040 Peachtree Rd NW #1911 Atlanta, GA	2.0	2.0	1233	$3,600	$2.92	1d	1	0.28mi
3040 Peachtree Rd NW #1509 Atlanta, GA	1.0	1.0	800	$1,895	$2.37	24d	1	0.28mi
3040 Peachtree Rd NW #813 Atlanta, GA	1.0	1.0	761	$2,300	$3.02	24d	1	0.28mi
235 Pharr Rd NE Atlanta, GA	2.0	1.0–2.0	1122	$2,745	$2.45	1d	31	0.30mi
99 W Paces Ferry Rd NW Atlanta, GA	1.0–2.0	1.0–2.5	1193	$7,441	$6.24	2d	21	0.37mi
250 Pharr Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	1006	$3,395	$3.37	11d	2	0.37mi
250 Pharr Rd NE #313 Atlanta, GA	2.0	2.0	1233	$3,395	$2.75	24d	1	0.38mi
250 Pharr Rd NE #313 Atlanta, GA	2.0	2.0	1233	$3,395	$2.75	15d	1	0.38mi
250 Pharr Rd NE #1507 Atlanta, GA	1.0	1.0	762	$2,200	$2.89	16d	1	0.38mi
297 E Paces Ferry Rd NE Atlanta, GA	1.0–3.0	1.0–2.0	1312	$4,442	$3.39	1d	36	0.42mi
65 Irby Ave NW Atlanta, GA	1.0	1.0	629	$2,085	$3.31	2d	13	0.44mi
3150 Roswell Rd NW Atlanta, GA	2.0	1.0–2.0	1003	$4,024	$4.01	1d	26	0.46mi
3172 Roswell Rd NW Atlanta, GA	3.0	1.0–2.0	1066	$3,283	$3.08	2d	22	0.50mi
325 E Paces Ferry Rd NE #1810 Atlanta, GA	1.0	1.0	953	$2,300	$2.41	24d	1	0.50mi
81 E Wesley Rd NE Unit 02 Atlanta, GA	2.0	1.0	900	$1,399	$1.55	7d	1	0.53mi
360 Pharr Rd NE Atlanta, GA	2.0	1.0–2.0	908	$1,978	$2.18	1d	40	0.54mi
340 E Paces Ferry Rd NE Atlanta, GA	2.0	1.0–2.0	815	$3,845	$4.71	3d	130	0.55mi
3300 Roswell Rd Atlanta, GA	1.0–2.0	1.0–2.0	1170	$3,769	$3.22	1d	16	0.59mi
77 E Andrews Dr NW Atlanta, GA	1.0–2.0	1.0–2.5	1294	$3,429	$2.65	1d	8	0.62mi
3235 Roswell Rd NE #505 Atlanta, GA	2.0	2.0	1232	$3,200	$2.60	24d	1	0.64mi
400 Pharr Rd NE Atlanta, GA	2.0	1.0–2.0	940	$2,579	$2.74	1d	14	0.66mi
3315 Roswell Rd NE Atlanta, GA	3.0	1.0–2.0	1079	$1,996	$1.85	1d	25	0.72mi
505 Pharr Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	720	$1,456	$2.02	24d	9	0.76mi
505 Pharr Rd NE Atlanta, GA	1.0–2.0	1.0–2.0	720	$1,415	$1.97	2d	4	0.76mi

HOA detail condo

• Monthly dues: $685 · $8,220/yr
• Likely covers: watertrashgaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $185,000 Active 89 DOM
2. 2026-06-17
   days on market $185,000 Active 88 DOM
3. 2026-06-16
   days on market $185,000 Active 87 DOM
4. 2026-06-15
   days on market $185,000 Active 86 DOM
5. 2026-06-13
   days on market $185,000 Active 84 DOM
6. 2026-06-13
   days on market $185,000 Active 83 DOM
7. 2026-06-09
   days on market $185,000 Active 80 DOM
8. 2026-06-08
   days on market $185,000 Active 79 DOM
9. 2026-06-07
   days on market $185,000 Active 78 DOM
10. 2026-06-04
    days on market $185,000 Active 75 DOM
11. 2026-06-03
    days on market $185,000 Active 74 DOM
12. 2026-06-02
    days on market $185,000 Active 73 DOM
13. 2026-06-01
    days on market $185,000 Active 72 DOM
14. 2026-05-31
    days on market $185,000 Active 71 DOM
15. 2026-03-20
    listed $185,000 New 916-char remark

    Show marketing remark (922 chars)

    Welcome to luxury living in the heart of Buckhead! This fully upgraded 2-bedroom, 2-bath condo at Slaton Manor (Unit 512) offers an elegant retreat within walking distance to Buckhead’s finest shopping, dining, and entertainment. Enjoy an open-concept layout with a chic breakfast bar overlooking a stylish living space adorned with custom accent walls. The gourmet kitchen boasts quartz countertops, stainless steel appliances, and a designer backsplash. This home comes fully integrated with Google Smart Home technology, making your living experience both luxurious and convenient. HOA fees cover water, gas, trash, and pool access, simplifying your budget. Rental restrictions apply, but annual leases can be approved. No pets, unless service animals. Plus, enjoy garage parking with a coveted spot rarely available! This is your chance to live Buckhead luxury, with all the convenience and style you deserve.

16. 2026-03-20
    listed $185,000 Active 922-char remark

    Show marketing remark (922 chars)

    Welcome to luxury living in the heart of Buckhead! This fully upgraded 2-bedroom, 2-bath condo at Slaton Manor (Unit 512) offers an elegant retreat within walking distance to Buckhead’s finest shopping, dining, and entertainment. Enjoy an open-concept layout with a chic breakfast bar overlooking a stylish living space adorned with custom accent walls. The gourmet kitchen boasts quartz countertops, stainless steel appliances, and a designer backsplash. This home comes fully integrated with Google Smart Home technology, making your living experience both luxurious and convenient. HOA fees cover water, gas, trash, and pool access, simplifying your budget. Rental restrictions apply, but annual leases can be approved. No pets, unless service animals. Plus, enjoy garage parking with a coveted spot rarely available! This is your chance to live Buckhead luxury, with all the convenience and style you deserve.

17. 2025-12-02
    historical
18. 2025-12-02
    historical
19. 2025-10-20
    price $198,000
20. 2025-10-20
    price $198,000
21. 2025-07-17
    listed $200,000 Active
22. 2025-07-17
    listed $200,000 New
23. 2023-05-26
    soldstatus $198,000
24. 2023-05-24
    soldstatus $198,000 Closed
25. 2023-05-08
    status Pending
26. 2023-04-27
    historical Active Under Contract
27. 2023-04-24
    listed $205,000 Active
28. 2017-12-28
    soldstatus $126,000
29. 2017-12-27
    soldstatus $126,000 Sold
30. 2017-12-01
    status Pending
31. 2017-11-08
    price $135,000
32. 2017-11-07
    listed $130,000 Active
33. 2004-09-07
    soldstatus $127,000
34. 2000-08-02
    soldstatus $112,000

ⓘ 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: $3,381 · $282/mo
• Projected year-2 tax: $3,381 · $282/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 7/10 Severe FEMA zone X (unshaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% 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: $30,293
• − Mortgage interest: −$10,363
• − Property taxes: −$3,381
• − Insurance: −$1,722
• − Repairs & maintenance: −$2,423
• − Management: −$2,423
• − HOA: −$8,220
• − Depreciation: −$5,382
• Taxable loss: −$3,622
• Est. tax savings @ 24.0%: +$869
• After-tax cash flow: $-164/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): 28,110
• Household income: $106,907
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 1407.0

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 White (72%)
• Race & ethnicity: White 72% Black 12% Asian 7% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Italian 5% Lithuanian 4% Romanian 3%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 3% Chinese 2% German/W. Germanic 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: ▼ -770.70%
• Current HPI: 195.1185
• Rent YoY: ▲ 4.75%
• 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

+65.2% since first listed

20 events — show timeline

• 2026-03-20 Listed $185,000 FMLS
• 2026-03-20 Listed $185,000 GAMLS
• 2025-12-02 Listing Removed — GAMLS
• 2025-12-02 Listing Removed — FMLS
• 2025-10-20 Price Changed $198,000 GAMLS
• 2025-10-20 Price Changed $198,000 FMLS
• 2025-07-17 Listed $200,000 GAMLS
• 2025-07-17 Listed $200,000 FMLS
• 2023-05-26 Sold (Public Records) $198,000 Public Records
• 2023-05-24 Sold (MLS) $198,000 FMLS
• 2023-05-08 Pending — FMLS
• 2023-04-27 Contingent — FMLS
• 2023-04-24 Listed $205,000 FMLS
• 2017-12-28 Sold (Public Records) $126,000 Public Records
• 2017-12-27 Sold (MLS) $126,000 FMLS
• 2017-12-01 Pending — FMLS
• 2017-11-08 Price Changed $135,000 FMLS
• 2017-11-07 Listed $130,000 FMLS
• 2004-09-07 Sold (Public Records) $127,000 Public Records
• 2000-08-02 Sold (Public Records) $112,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $3,381 · +4.3% YoY. Source: county tax records.