1406 Lakewood Ave SE · Atlanta, GA 30315

$205,000

3 bd · 1.0 ba · 1,638 sqft · MultiFamily public records · 67 Days on market

Built 1920 9,347 sqft lot $125/sqft · 43% below area Est $358k · 43% under

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Why this score? — see what drove the B- 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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.7/10.0
• 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

Rare opportunity to secure a property in the rapidly growing Lakewood area. Surrounded by renovated homes and new construction, this property offers excellent potential for a full renovation or redevelopment. Prime location near the Atlanta BeltLine, offering easy access to trails, dining, and entertainment, along with convenient proximity to public transit and major highways-making commuting to Downtown Atlanta quick and accessible. Enjoy being just minutes from Grant Park and the vibrant Intown lifestyle. Opportunities like this are becoming increasingly rare in such a centrally located area, this property offers strong upside potential. Property is being sold as-is. Cash only. Don't miss this opportunity-properties in this location move quickly.

Key facts

• Atlanta beltline
• Renovated homes
• Public transit

Tags

• RENOVATED HOMES
• NEW CONSTRUCTION
• ATLANTA BELTLINE
• PUBLIC TRANSIT
• MAJOR HIGHWAYS
• GRANT PARK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $193k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 (+3.2%/yr); 378 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 $2,389/mo this rent would consume 56% 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 $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 67 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 19y 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.
• Current owner paid $11k; list at $205k implies a 1764% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $192,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 1920 — 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: 1.17% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.96%
• DSCR: 1.40
• GRM: 7.1

CMA / ARV

• ARV (median comp): $358,010
• List price: $205,000
• Delta: -42.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-5,297
• Equity at exit: $30,566

10-year hold

• IRR: 7.5%
• Equity multiple: 1.58×
• Total profit: $33,085
• Equity at exit: $17,725

Cash invested: $57,400 (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 30315

• Rents YoY: 3.2%
• Active inventory: 378
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,389 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$298 /mo · $3,582/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $429

Break-even live

Break-even rent $1,847

Max offer price $205,000

Occupancy floor 77%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 Mission Way SE Atlanta, GA	3.0	3.5	1550	$2,800	$1.81	4d	1	0.17mi
117 Thayer Ave SE Atlanta, GA	3.0	1.0	1241	$1,666	$1.34	14d	1	0.19mi
141 McDonough Blvd SE Atlanta, GA	3.0	2.0	1242	$2,250	$1.81	24d	1	0.22mi
1515 Jonesboro Rd SE Atlanta, GA	3.0	2.0	1360	$2,300	$1.69	13d	1	0.23mi
117 Brown Ave SE Atlanta, GA	4.0	2.5	1632	$1,945	$1.19	14d	1	0.25mi
95 Thirkield Ave SE Atlanta, GA	3.0	2.0	1096	$1,850	$1.69	16d	1	0.26mi
91 Thirkield Ave SE Atlanta, GA	2.0	1.0	1092	$1,995	$1.83	24d	1	0.27mi
402 McDonough Blvd SE Atlanta, GA	3.0	3.5	1270	$2,350	$1.85	24d	1	0.36mi
64 Moury Ave SE Atlanta, GA	4.0	3.5	1877	$2,699	$1.44	24d	1	0.37mi
41 Meldon Ave SE Atlanta, GA	4.0	1.5	1323	$1,495	$1.13	17d	1	0.38mi
1569 Jonesboro Rd SE Atlanta, GA	4.0	2.0	1680	$2,400	$1.43	19d	1	0.41mi
1569 Jonesboro Rd SE Atlanta, GA	4.0	2.0	1680	$2,400	$1.43	17d	1	0.41mi
309 Skylar Ter SE Atlanta, GA	2.0	4.0	1573	$2,600	$1.65	8d	1	0.44mi
125 Milton Ave SE Atlanta, GA	2.0	1.0–2.0	965	$2,494	$2.58	2d	29	0.45mi
1205 Skylar Ln SE Atlanta, GA	3.0	3.5	1898	$2,850	$1.50	5d	1	0.48mi
1205 Skylar Ln SE Atlanta, GA	3.0	3.5	1898	$2,900	$1.53	5d	1	0.48mi
347 Skylar Ct SE Atlanta, GA	3.0	5.0	1898	$3,470	$1.83	24d	1	0.48mi
357 Skylar Way SE Atlanta, GA	3.0	5.0	1898	$2,800	$1.48	22d	1	0.50mi
174 Moury Ave SW Atlanta, GA	1.0–3.0	1.0–2.0	926	$1,728	$1.87	3d	6	0.57mi
1114 Oak Knoll Ter SE Atlanta, GA	4.0	2.0	1525	$2,800	$1.84	24d	1	0.60mi
430 Englewood Ave SE Atlanta, GA	3.0	1.0–2.0	938	$3,605	$3.84	1d	28	0.62mi
1081 Hill St SE Unit B Atlanta, GA	3.0	2.5	1678	$2,995	$1.78	24d	1	0.62mi
72 Milton Ave SE Atlanta, GA	2.0	1.0–2.0	818	$2,107	$2.57	1d	24	0.65mi
45 Boynton Ave SE Atlanta, GA	2.0–4.0	2.5–4.0	1452	$2,918	$2.01	1d	15	0.66mi
1267 Zucchini Cir SE Atlanta, GA	3.0	3.0	1500	$3,800	$2.53	24d	1	0.67mi
1267 Zucchini Cir SE Atlanta, GA	3.0	3.0	1500	$3,300	$2.20	8d	1	0.67mi
1394 Cozy Cir SE Atlanta, GA	3.0	3.0	1500	$2,850	$1.90	14d	1	0.68mi
1754 Richmond Cir SE Atlanta, GA	2.0	2.0	1200	$1,750	$1.46	8d	2	0.69mi
9 Gould St SE Atlanta, GA	3.0	2.0	1800	$2,000	$1.11	24d	1	0.69mi
255 Farrington Ave SE Atlanta, GA	4.0	3.0	1539	$1,795	$1.17	24d	1	0.71mi
1054 Atlanta, GA	3.0–4.0	2.0	1295	$1,974	$1.52	21d	2	0.72mi
1418 Boulevard SE Atlanta, GA	4.0	2.0	1600	$975	$0.61	4d	1	0.73mi
400 Pratt Dr SE #1401 Atlanta, GA	2.0	2.0	1718	$2,500	$1.46	24d	1	0.74mi
1000 Hill St SE Unit A Atlanta, GA	2.0	1.0	1500	$2,323	$1.55	8d	1	0.79mi
1770 Richmond Cir SE Unit 1000E Atlanta, GA	2.0	2.0	1200	$1,365	$1.14	24d	1	0.79mi
1770 Richmond Cir SE Unit 500F Atlanta, GA	2.0	2.0	1200	$1,750	$1.46	24d	1	0.79mi
979 Hill St SE Atlanta, GA	3.0	2.0	1380	$3,000	$2.17	22d	1	0.82mi
992 Fern Ave SE Atlanta, GA	3.0	3.0	2000	$5,000	$2.50	24d	1	0.82mi
1005 Linam Ave SE Atlanta, GA	4.0	3.0	1757	$3,000	$1.71	24d	1	0.82mi
1845 Lakewood Ter SE Atlanta, GA	3.0	2.0	1859	$1,850	$1.00	13d	1	0.84mi

Listing history 50 events

1. 2026-06-18
   days on market $205,000 Active 67 DOM
2. 2026-06-17
   days on market $205,000 Active 66 DOM
3. 2026-06-16
   days on market $205,000 Active 65 DOM
4. 2026-06-15
   days on market $205,000 Active 64 DOM
5. 2026-06-13
   days on market $205,000 Active 62 DOM
6. 2026-06-13
   days on market $205,000 Active 61 DOM
7. 2026-06-09
   days on market $205,000 Active 58 DOM
8. 2026-06-08
   days on market $205,000 Active 57 DOM
9. 2026-06-07
   days on market $205,000 Active 56 DOM
10. 2026-06-04
    days on market $205,000 Active 53 DOM
11. 2026-06-03
    days on market $205,000 Active 52 DOM
12. 2026-06-02
    days on market $205,000 Active 51 DOM
13. 2026-06-01
    days on market $205,000 Active 50 DOM
14. 2026-05-31
    days on market $205,000 Active 49 DOM
15. 2026-04-12
    listed $205,000 New 761-char remark

    Show marketing remark (779 chars)

    Rare opportunity to secure a property in the rapidly growing Lakewood area. Surrounded by renovated homes and new construction, this property offers excellent potential for a full renovation or redevelopment. Prime location near the Atlanta BeltLine, offering easy access to trails, dining, and entertainment, along with convenient proximity to public transit and major highways—making commuting to Downtown Atlanta quick and accessible. Enjoy being just minutes from Grant Park and the vibrant Intown lifestyle. Opportunities like this are becoming increasingly rare in such a centrally located area, this property offers strong upside potential. Property is being sold as-is. Cash only. Don’t miss this opportunity—properties in this location move quickly.

16. 2026-04-12
    listed $205,000 Active 779-char remark

    Show marketing remark (779 chars)

    Rare opportunity to secure a property in the rapidly growing Lakewood area. Surrounded by renovated homes and new construction, this property offers excellent potential for a full renovation or redevelopment. Prime location near the Atlanta BeltLine, offering easy access to trails, dining, and entertainment, along with convenient proximity to public transit and major highways—making commuting to Downtown Atlanta quick and accessible. Enjoy being just minutes from Grant Park and the vibrant Intown lifestyle. Opportunities like this are becoming increasingly rare in such a centrally located area, this property offers strong upside potential. Property is being sold as-is. Cash only. Don’t miss this opportunity—properties in this location move quickly.

17. 2025-12-01
    historical
18. 2025-12-01
    historical
19. 2025-11-05
    status Back On Market
20. 2025-10-31
    status Active
21. 2025-10-06
    historical On Hold
22. 2025-09-30
    status Active
23. 2025-09-28
    status Back On Market
24. 2025-08-29
    historical On Hold
25. 2025-08-22
    status Back On Market
26. 2025-06-10
    status Pending
27. 2025-06-04
    status Under Contract
28. 2025-06-03
    historical Active Under Contract
29. 2025-06-03
    historical On Hold
30. 2025-05-21
    listed $145,000 New
31. 2025-05-21
    listed $145,000 Active
32. 2013-11-08
    price $11,000
33. 2012-12-14
    price $11,000
34. 2012-12-13
    historical
35. 2012-12-06
    soldstatus $11,000 Sold
36. 2012-12-04
    soldstatus $11,000 Sold
37. 2012-12-04
    price $15,900
38. 2012-11-05
    historical
39. 2012-11-05
    status Pending
40. 2012-11-05
    price $15,900
41. 2012-09-26
    status Back On Market
42. 2012-09-25
    status Active
43. 2012-08-16
    status Pending
44. 2012-08-16
    historical
45. 2012-07-17
    price $15,900
46. 2012-07-17
    price $15,900
47. 2012-06-22
    listed $19,900 New
48. 2012-06-22
    listed $19,900 Active
49. 2012-06-01
    historical
50. 2012-04-20
    status Back On Market

ⓘ 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: $3,582 · $298/mo
• Projected year-2 tax: $3,582 · $298/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 ≥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: $28,674
• − Mortgage interest: −$11,483
• − Property taxes: −$3,582
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,294
• − Management: −$2,294
• − Depreciation: −$5,964
• Taxable income: $2,032
• Est. tax owed @ 24.0%: −$488
• After-tax cash flow: $4,657/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

+583.3% since first listed

46 events — show timeline

• 2026-04-12 Listed $205,000 FMLS
• 2026-04-12 Listed $205,000 GAMLS
• 2025-12-01 Listing Removed — FMLS
• 2025-12-01 Listing Removed — GAMLS
• 2025-11-05 Relisted — GAMLS
• 2025-10-31 Relisted — FMLS
• 2025-10-06 Delisted — GAMLS
• 2025-09-30 Relisted — FMLS
• 2025-09-28 Relisted — GAMLS
• 2025-08-29 Delisted — GAMLS
• 2025-08-22 Relisted — GAMLS
• 2025-06-10 Pending — FMLS
• 2025-06-04 Pending — GAMLS
• 2025-06-03 Contingent — FMLS
• 2025-06-03 Delisted — GAMLS
• 2025-05-21 Listed $145,000 FMLS
• 2025-05-21 Listed $145,000 GAMLS
• 2013-11-08 Price Changed $11,000 GAMLS
• 2012-12-14 Price Changed $11,000 FMLS
• 2012-12-13 Listing Removed — FMLS
• 2012-12-06 Sold (MLS) $11,000 GAMLS
• 2012-12-04 Price Changed $15,900 FMLS
• 2012-12-04 Sold (MLS) $11,000 FMLS
• 2012-11-05 Listing Removed — GAMLS
• 2012-11-05 Pending — FMLS
• 2012-11-05 Price Changed $15,900 GAMLS
• 2012-09-26 Relisted — GAMLS
• 2012-09-25 Relisted — FMLS
• 2012-08-16 Pending — FMLS
• 2012-08-16 Listing Removed — GAMLS
• 2012-07-17 Price Changed $15,900 FMLS
• 2012-07-17 Price Changed $15,900 GAMLS
• 2012-06-22 Listed $19,900 GAMLS
• 2012-06-22 Listed $19,900 FMLS
• 2012-06-01 Listing Removed — GAMLS
• 2012-04-20 Relisted — GAMLS
• 2012-04-01 Listing Removed — GAMLS
• 2012-03-06 Relisted — GAMLS
• 2012-02-02 Listing Removed — GAMLS
• 2011-12-29 Listed $65,000 GAMLS
• 2007-05-03 Sold (Public Records) $79,900 Public Records
• 2007-04-20 Sold (MLS) $79,900 FMLS
• 2007-02-21 Listed $79,900 FMLS
• 2000-12-07 Sold (Public Records) $55,000 Public Records
• 1985-11-26 Sold (Public Records) $17,500 Public Records
• 1983-09-12 Sold (Public Records) $30,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $3,582 · -13.7% YoY. Source: county tax records.