140 SE Mount Zion Rd SE #41 · Atlanta, GA 30354

$69,000

2 bd · 1.0 ba · 800 sqft · MultiFamily · 39 Days on market

Built 1972 8,712 sqft lot $86/sqft · 64% below area $730/mo HOA · 47% 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 +14.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

This beautifully updated one-level, 2-bedroom, 1-bath unit is located in a secure gated community in South Atlanta, just minutes from the airport, downtown and major attractions. Inside, you'll find modern flooring, granite countertops, upgraded cabinets, and stylish fixtures throughout. As a member-owned cooperative, the $730 monthly carrying charge covers HVAC, hot water heater, roof and exterior maintenance, landscaping, property taxes, building liability insurance, water, trash, sewage, common area upkeep, and more-making this a smart, worry-free housing option.

Key facts

• Gated community
• Modern flooring
• Stylish fixtures

Tags

• GATED COMMUNITY
• MODERN FLOORING
• GRANITE COUNTERTOPS
• UPGRADED CABINETS
• STYLISH FIXTURES

Property features AI

Finance

• Financial info: Listing available for cash or private financing
• HOA & community: Has association; Annual association fee covers maintenance (structure and grounds), trash, management, private roads, reserve fund, sewer and water

Exterior

• Parking: Assigned parking
• Security: Gated community
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence; Garden/patio home; Updated/remodeled; Faces unspecified
• Construction: Built in 1972; Brick construction; Composition roof; Slab foundation
• Exterior features: Level to sloped lot

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile bath; One level
• Laundry & utility: Laundry located in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $69k.

Deal economics

• At list price, monthly cash flow is $11 ($132/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.

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: 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.
• Zoned schools: Heritage Academy Elementary School (math 5% / reading 8%, grade F, #1,153 of 1,228 statewide, top 94%, 398 students, 100% FRL); Crawford Long Middle School (math 2% / reading 8%, grade F, #462 of 470 statewide, top 99%, 705 students, 100% FRL); South Atlanta High School (math 2% / reading 12%, grade F, #385 of 424 statewide, top 92%, 928 students, 100% FRL) — zoned schools average 100% FRL vs 71% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 6% at this address vs 32% district-wide (-25 pts) — the specific schools serving this property underperform the Atlanta Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.5%/yr); 179 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $477 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $19k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 5y 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 $38k; list at $69k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 47% of rent.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.23% ✓
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• GRM: 3.7

CMA / ARV

• ARV (median comp): $193,857
• List price: $69,000
• Delta: -64.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.45% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.68×
• Total profit: $-6,116
• Equity at exit: $10,288

10-year hold

• IRR: 7.7%
• Equity multiple: 1.74×
• Total profit: $14,291
• Equity at exit: $5,966

Cash invested: $19,320 (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 30354

• Home prices YoY: -17.5%
• Rents YoY: 5.5%
• Active inventory: 179
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,542 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$730
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $11

Break-even live

Break-even rent $1,528

Max offer price $69,000

Occupancy floor 94%

Sensitivity live

Price	-10% $59	-5% $35	+0% $11	+5% $-13	+10% $-37
Rent	-10% $-111	-5% $-50	+0% $11	+5% $72	+10% $133
Rate	-1.0pp $46	-0.5pp $29	base $11	+0.5pp $-7	+1.0pp $-25

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3188 Ward Dr SW Atlanta, GA	3.0	1.5	1025	$1,800	$1.76	13d	1	0.36mi
2786 Old Hapeville Rd SW Atlanta, GA	2.0	1.5	1050	$1,150	$1.10	25d	1	0.59mi
324 Macedonia Rd SE Atlanta, GA	3.0	1.0	1000	$1,295	$1.29	8d	1	0.64mi
3054 Waters Rd SW Atlanta, GA	3.0	1.0	891	$1,800	$2.02	8d	1	0.67mi
445 Cleveland Ave SE Atlanta, GA	2.0–3.0	1.0–2.0	1014	$1,111	$1.10	2d	13	0.67mi
2745 Old Hapeville Rd SW Atlanta, GA	2.0–3.0	2.0	1007	$1,250	$1.24	16d	1	0.69mi
45 Baker Dr SW Atlanta, GA	3.0	2.0	1056	$1,600	$1.52	25d	1	0.70mi
382 Cologne Dr SE Atlanta, GA	3.0	1.0	1100	$1,400	$1.27	0d	1	0.82mi
331 Simca St SE Atlanta, GA	3.0	1.0	1000	$1,700	$1.70	4d	1	0.83mi
2959 Forrest Hills Dr SW Atlanta, GA	1.0–2.0	1.0–1.5	925	$1,250	$1.35	14d	1	0.85mi
2959 Forrest Hills Dr SW Atlanta, GA	1.0–2.0	1.0–1.5	925	$1,250	$1.35	17d	2	0.85mi
2857 1st Ave SW Atlanta, GA	3.0	2.0	696	$1,899	$2.73	25d	1	0.92mi
2800 Grand Ave SW Atlanta, GA	3.0	1.0	1052	$1,600	$1.52	0d	1	0.94mi
231 Maple St Atlanta, GA	3.0	2.0	1068	$1,645	$1.54	44d	1	0.94mi
2955 1st Ave SW Unit 1 Atlanta, GA	1.0	1.0	600	$1,050	$1.75	25d	1	0.96mi
305 Banberry Dr SE Atlanta, GA	3.0	1.0	1000	$1,550	$1.55	0d	1	1.03mi
136 Hillsdale Dr SE Atlanta, GA	3.0	2.0	1075	$1,995	$1.86	25d	1	1.05mi
278 Moreland Way Atlanta, GA	3.0	2.0	1000	$1,945	$1.95	25d	1	1.05mi
2738 Vineyards Dr SE Atlanta, GA	1.0	1.0	830	$1,210	$1.46	25d	1	1.09mi
2875 3rd Ave SW Unit A Atlanta, GA	2.0	1.0	900	$1,245	$1.38	3d	1	1.12mi
3301 Old Jonesboro Rd Atlanta, GA	2.0	1.0	899	$2,250	$2.50	6d	1	1.13mi
3028 Grand Ave SW Atlanta, GA	1.0	1.0	1048	$875	$0.83	0d	1	1.21mi
3287 Russell St Atlanta, GA	2.0	1.0	800	$1,195	$1.49	44d	1	1.22mi
3420 Northside Dr Unit B Hapeville, GA	2.0	1.0	1000	$1,150	$1.15	0d	1	1.27mi
2332 Baywood Dr SE Atlanta, GA	3.0	2.0	1100	$1,400	$1.27	19d	1	1.27mi
3116 Jackson St Atlanta, GA	2.0	2.0	1016	$1,900	$1.87	44d	1	1.30mi
535 Lake Dr Atlanta, GA	3.0	2.0	1080	$2,275	$2.11	44d	1	1.30mi
518 North Ave Atlanta, GA	2.0	1.5	1096	$2,150	$1.96	11d	1	1.33mi
532 Cleveland Ave SW Atlanta, GA	2.0	1.0	836	$950	$1.14	16d	1	1.36mi
532 Cleveland Ave SW Atlanta, GA	2.0	1.0	836	$925	$1.11	23d	1	1.36mi
2268 Polar Rock Pl SW Atlanta, GA	3.0	1.0	925	$1,575	$1.70	25d	1	1.43mi
735 Oak Dr Hapeville, GA	2.0	1.0	1053	$1,550	$1.47	23d	1	1.45mi
488 Pomona Cir SW Atlanta, GA	3.0	1.0	1000	$1,800	$1.80	25d	1	1.49mi

HOA detail

• Monthly dues: $730 · $8,760/yr
• Likely covers: watertrashlandscapingexterior maint.security

Listing history 43 events

1. 2026-06-21
   days on market $69,000 Active 39 DOM
2. 2026-06-18
   days on market $69,000 Active 36 DOM
3. 2026-06-17
   days on market $69,000 Active 35 DOM
4. 2026-06-16
   days on market $69,000 Active 34 DOM
5. 2026-06-15
   days on market $69,000 Active 33 DOM
6. 2026-06-13
   days on market $69,000 Active 31 DOM
7. 2026-06-13
   days on market $69,000 Active 30 DOM
8. 2026-06-09
   days on market $69,000 Active 27 DOM
9. 2026-06-08
   days on market $69,000 Active 26 DOM
10. 2026-06-07
    days on market $69,000 Active 25 DOM
11. 2026-06-04
    days on market $69,000 Active 22 DOM
12. 2026-06-03
    days on market $69,000 Active 21 DOM
13. 2026-06-02
    days on market $69,000 Active 20 DOM
14. 2026-06-01
    days on market $69,000 Active 19 DOM
15. 2026-05-31
    days on market $69,000 Active 18 DOM
16. 2026-05-13
    listed $69,000 New 572-char remark
17. 2026-05-08
    historical
18. 2025-10-18
    historical
19. 2025-10-01
    status Back On Market
20. 2025-09-30
    historical
21. 2025-06-04
    status Active
22. 2025-06-04
    historical
23. 2025-05-12
    price $70,000
24. 2025-04-18
    historical
25. 2024-11-24
    price $75,000
26. 2024-03-26
    listed $69,000 New
27. 2024-03-26
    listed $75,000 New
28. 2024-01-10
    listed $82,000 New
29. 2022-12-15
    historical
30. 2022-12-02
    status Back On Market
31. 2022-11-30
    historical
32. 2022-10-03
    historical
33. 2022-09-22
    status Back On Market
34. 2022-09-21
    status Under Contract
35. 2022-09-13
    listed $69,000 New
36. 2022-09-13
    listed $69,000 New
37. 2021-11-19
    soldstatus $38,000 Sold
38. 2021-10-24
    status Under Contract
39. 2021-10-22
    status Active
40. 2021-10-20
    historical
41. 2021-09-28
    status Under Contract
42. 2021-09-14
    status Under Contract
43. 2021-08-16
    listed $37,000 New

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 19 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: $18,499
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,480
• − Management: −$1,480
• − HOA: −$8,760
• − Depreciation: −$2,007
• Taxable loss: −$473
• Est. tax savings @ 24.0%: +$114
• After-tax cash flow: $246/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): 16,182
• Household income: $63,189
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 930.0

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 (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 16% White 10% Two or more races 9% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Romanian 1% Swedish 1%
• Foreign-born: 11% · Canada, Vietnam, Guatemala
• Languages at home: 81% English-only · Spanish 15% German/W. Germanic 1% Vietnamese 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: ▼ -67.78%
• Current HPI: 320.1111
• Rent YoY: ▲ 5.45%
• 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

+86.5% since first listed

28 events — show timeline

• 2026-05-13 Listed $69,000 GAMLS
• 2026-05-08 Listing Removed — GAMLS
• 2025-10-18 Listing Removed — GAMLS
• 2025-10-01 Relisted — GAMLS
• 2025-09-30 Listing Removed — GAMLS
• 2025-06-04 Relisted — GAMLS
• 2025-06-04 Listing Removed — GAMLS
• 2025-05-12 Price Changed $70,000 GAMLS
• 2025-04-18 Listing Removed — GAMLS
• 2024-11-24 Price Changed $75,000 GAMLS
• 2024-03-26 Listed $75,000 GAMLS
• 2024-03-26 Listed $69,000 GAMLS
• 2024-01-10 Listed $82,000 GAMLS
• 2022-12-15 Listing Removed — GAMLS
• 2022-12-02 Relisted — GAMLS
• 2022-11-30 Listing Removed — GAMLS
• 2022-10-03 Listing Removed — GAMLS
• 2022-09-22 Relisted — GAMLS
• 2022-09-21 Pending — GAMLS
• 2022-09-13 Listed $69,000 GAMLS
• 2022-09-13 Listed $69,000 GAMLS
• 2021-11-19 Sold (MLS) $38,000 GAMLS
• 2021-10-24 Pending — GAMLS
• 2021-10-22 Relisted — GAMLS
• 2021-10-20 Listing Removed — GAMLS
• 2021-09-28 Pending — GAMLS
• 2021-09-14 Pending — GAMLS
• 2021-08-16 Listed $37,000 GAMLS