4232 Notting Hill Dr SW · Atlanta, GA 30331

$207,000

3 bd · 2.5 ba · 1,709 sqft · Townhouse · 64 Days on market

Built 2006 Fair condition 1,219 sqft lot Est $304k · 32% under $40/mo HOA · 2% of rent ↓ 14% 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 +13.6/30.0
• Livability +4.2/5.0
• 1% rule +4.1/10.0
• DSCR +4.1/10.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Atlanta two-story home offers a one-car garage.

Key facts

• $40 HOA
• Garage
• Built 2006

Property features AI

Finance

• Other: Paved road frontage on a city street
• HOA & community: Monthly association fee of $40; Community has 50 units

Exterior

• Parking: Garage (1 garage space); Two total parking spaces
• Utilities: Public water; Public sewer; Electric service with 220 volts; Electricity available; Natural gas available
• Home design: Three or more levels; Fee simple ownership; Resale condition
• Construction: Frame construction; Shingle roof; Slab foundation
• Exterior features: Exterior lighting; Private entrance; Deck

Interior

• Kitchen: Refrigerator included; No specific kitchen features listed
• Bedrooms: One main-level bedroom; Two upper-level bedrooms
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms; One half bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One fireplace located in the living room; Other interior features; 2+ shared/common walls; Full finished basement
• Laundry & utility: Laundry located in hall

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $207k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $10 ($118/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (9.5% below list).
• Recommended offer: $187k (9.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: 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: Deerwood Academy (math 8% / reading 17%, grade F, #1,032 of 1,228 statewide, top 85%, 512 students, 100% FRL); Ralph Bunche Middle School (math 2% / reading 12%, grade F, #449 of 470 statewide, top 97%, 824 students, 100% FRL); D. M. Therrell High School (math 5% / reading 10%, grade F, #378 of 424 statewide, top 91%, 973 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 9% at this address vs 32% district-wide (-22 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 (+2.6%/yr); 485 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 36% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 64 days — a 6% lower offer ($195k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $68k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,390 (9.5% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.20%
• DSCR: 1.01
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $304,202
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4226 Notting Hill Dr SW	0.01mi	3/2.5	1,709 (0%)	9mo	$150,000	$88	92
4212 Nottinghill Dr	0.05mi	2/3.0 (-1)	1,644 (-4%)	3mo	$190,000	$116	82
4316 SW Notting Hill Dr SW	0.06mi	3/2.5	1,644 (-4%)	11mo	$221,000	$134	82
4262 Notting Hill Dr SW #30	0.07mi	3/2.5	1,467 (-14%)	9mo	$289,990	$198	66
4258 SW Notting Hill Dr #32	0.07mi	3/2.5	1,476 (-14%)	10mo	$264,990	$180	65
4261 Notting Hill Dr SW	0.06mi	3/2.5	1,467 (-14%)	10mo	$259,990	$177	65
4260 SW Notting Hill Dr #31	0.07mi	3/2.5	1,476 (-14%)	11mo	$264,990	$180	65
4270 Notting Hill Dr SW #26	0.09mi	3/2.5	1,467 (-14%)	10mo	$294,990	$201	64
4285 Notting Hill Dr #65	0.06mi	3/2.5	1,467 (-14%)	12mo	$249,990	$170	64
4283 Notting Hill Dr #66	0.06mi	3/2.5	1,467 (-14%)	12mo	$264,990	$181	63
4276 Notting Hill Dr #23	0.09mi	3/2.5	1,467 (-14%)	12mo	$259,990	$177	62
4272 Notting Hill Dr #25	0.09mi	3/2.5	1,467 (-14%)	12mo	$260,990	$178	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-33,558
• Equity at exit: $30,864

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-31,030
• Equity at exit: $17,898

Cash invested: $57,960 (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 30331

• Home prices YoY: -34.2%
• Rents YoY: 2.6%
• Active inventory: 485
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,874 high
• Mortgage (P&I): −$1,086
• Tax est. 1.5%: −$259 /mo · $3,105/yr
• Insurance: −$86
• HOA: −$40
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $10

Break-even live

Break-even rent $1,861

Max offer price $207,000

Occupancy floor 94%

Sensitivity live

Price	-10% $153	-5% $81	+0% $10	+5% $-62	+10% $-133
Rent	-10% $-138	-5% $-64	+0% $10	+5% $84	+10% $158
Rate	-1.0pp $114	-0.5pp $62	base $10	+0.5pp $-44	+1.0pp $-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: $51,750
• Closing costs: $6,210
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2356 County Line Rd SW Atlanta, GA	3.0	1.0	1360	$1,695	$1.25	26d	1	0.20mi
4407 Kimball Rd SW Atlanta, GA	3.0	2.0	1976	$1,855	$0.94	0d	1	0.37mi
4515 Doral Dr SW Atlanta, GA	3.0	1.5	1184	$1,700	$1.44	16d	1	0.42mi
4522 Doral Dr SW Atlanta, GA	3.0	2.0	1980	$1,990	$1.01	4d	1	0.44mi
4211 Campbellton Rd SW Atlanta, GA	3.0	2.0	1384	$2,050	$1.48	24d	1	0.54mi
4545 Sahara Dr SW Atlanta, GA	3.0	2.0	1075	$1,665	$1.55	7d	1	0.57mi
4596 Sahara Dr SW Atlanta, GA	4.0	1.5	1375	$1,500	$1.09	6d	1	0.62mi
4596 Sahara Dr SW Atlanta, GA	4.0	1.5	1475	$1,200	$0.81	26d	1	0.62mi
4610 Greenbriar Trl SW Unit 204 Atlanta, GA	3.0	2.0	1206	$1,950	$1.62	14d	1	0.74mi
4720 Edwina Ln SW Atlanta, GA	4.0	2.0	1400	$1,873	$1.34	4d	1	0.74mi
2243 Butner Rd Unit NA Atlanta, GA	4.0	2.5	1518	$2,350	$1.55	26d	1	0.78mi
2211 Butner Rd SW Atlanta, GA	4.0	2.0	1336	$1,875	$1.40	26d	1	0.81mi
4058 Blanton Ave SW Atlanta, GA	4.0	2.0	1476	$1,750	$1.19	18d	1	0.82mi
1960 W Kimberly Rd SW Atlanta, GA	3.0	2.5	1852	$2,105	$1.14	26d	1	0.83mi
2111 Sandtree Ct SW Unit 2 Atlanta, GA	2.0	1.0	1100	$1,500	$1.36	26d	1	0.83mi
4037 Braxton Pl SW Unit 4037 Atlanta, GA	4.0	3.0	1397	$2,100	$1.50	26d	1	0.85mi
4043 Avalon Rd SW Atlanta, GA	4.0	3.0	1434	$2,300	$1.60	26d	1	0.85mi
2100 Southwood Blvd SW Atlanta, GA	1.0–2.0	1.0–2.0	942	$1,537	$1.63	0d	16	0.92mi
1928 Grant Rd SW Atlanta, GA	3.0	2.0	1160	$1,823	$1.57	24d	1	1.06mi
3901 Campbellton Rd SW Unit 3909-M06 Atlanta, GA	2.0	1.5	1093	$1,150	$1.05	26d	1	1.13mi
3901 Campbellton Rd SW Unit 3909-K01 Atlanta, GA	2.0	1.5	1093	$1,199	$1.10	26d	1	1.13mi
3901 Campbellton Rd SW Unit 3901-L04 Atlanta, GA	2.0	1.5	1093	$1,140	$1.04	26d	1	1.13mi
4970 Promenade Dr SW Atlanta, GA	4.0	2.5	2250	$2,580	$1.15	0d	1	1.19mi
2164 Camp Ground Rd SW Atlanta, GA	3.0	1.5	1128	$1,595	$1.41	26d	1	1.28mi

HOA detail

• Monthly dues: $40 · $480/yr

Listing history 28 events

1. 2026-06-21
   days on market $207,000 Active 64 DOM
2. 2026-06-18
   days on market $207,000 Active 61 DOM
3. 2026-06-17
   days on market $207,000 Active 60 DOM
4. 2026-06-16
   days on market $207,000 Active 59 DOM
5. 2026-06-15
   days on market $207,000 Active 58 DOM
6. 2026-06-13
   days on market $207,000 Active 56 DOM
7. 2026-06-13
   days on market $207,000 Active 55 DOM
8. 2026-06-08
   days on market $207,000 Active 52 DOM
9. 2026-06-07
   days on market $207,000 Active 51 DOM
10. 2026-06-04
    days on market $207,000 Active 48 DOM
11. 2026-06-03
    days on market $207,000 Active 47 DOM
12. 2026-06-02
    days on market $207,000 Active 46 DOM
13. 2026-06-01
    days on market $207,000 Active 45 DOM
14. 2026-05-31
    days on market $207,000 Active 44 DOM
15. 2026-05-23
    status Active
16. 2026-05-23
    price $207,000
17. 2026-05-15
    historical Active Under Contract
18. 2026-05-04
    price $219,000
19. 2026-05-04
    status Active
20. 2026-04-30
    price $230,000
21. 2026-04-30
    historical
22. 2026-04-13
    status Active
23. 2026-04-13
    price $240,000
24. 2026-04-02
    status Pending
25. 2026-04-01
    listed $275,000 Active
26. 2022-03-14
    soldstatus $256,000 Sold 52-char remark

    Show marketing remark (52 chars)

    This Atlanta two-story home offers a one-car garage.

27. 2022-02-26
    status Under Contract 52-char remark

    Show marketing remark (52 chars)

    This Atlanta two-story home offers a one-car garage.

28. 2022-02-18
    listed $240,000 New 52-char remark

    Show marketing remark (52 chars)

    This Atlanta two-story home offers a one-car garage.

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,487
• − Mortgage interest: −$11,595
• − Property taxes: −$3,105
• − Insurance: −$1,035
• − Repairs & maintenance: −$1,799
• − Management: −$1,799
• − HOA: −$480
• − Depreciation: −$6,022
• Taxable loss: −$3,348
• Est. tax savings @ 24.0%: +$804
• After-tax cash flow: $922/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This townhouse presents as needing moderate renovations, with repairs and maintenance required in various areas. Upgrading the kitchen and painting the interior can significantly increase its resale and rental value.

Repairs flagged

• Minor Carpeted stairs and landing — Visible dirt and stains.
• Minor Windows — Dust and dirt on glass surfaces.
• Moderate Siding — Weathered and peeling in some areas.
• Minor Paint — Faded in some areas, especially on walls and trim.

Value-add opportunities

• Resale Replace dated kitchen cabinets and countertops — Modernizing the kitchen can significantly increase the home's appeal and value.
• Both Paint interior walls and trim — Fresh paint can improve the home's curb appeal and interior aesthetics.
• Resale Replace worn-out siding — New siding can enhance the home's curb appeal and increase its value.
• Both Clean and maintain windows — Clean windows can improve natural light and the home's overall appearance.
• Both Landscaping and curb appeal improvements — Well-maintained landscaping can increase the home's curb appeal and attract potential buyers/tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Carpeted stairs and landing · Visible dirt and stains.	Minor	$500–3,000
Windows · Dust and dirt on glass surfaces.	Minor	$500–3,000
Siding · Weathered and peeling in some areas.	Moderate	$3,000–15,000
Paint · Faded in some areas, especially on walls and trim.	Minor	$500–3,000
Total estimated repair cost · 4 items		$4,500–24,000

Value-add ROI direction

• Resale Replace dated kitchen cabinets and countertops — Modernizing the kitchen can significantly increase the home's appeal and value. ↑
• Both Paint interior walls and trim — Fresh paint can improve the home's curb appeal and interior aesthetics. ↑
• Resale Replace worn-out siding — New siding can enhance the home's curb appeal and increase its value. ↑
• Both Clean and maintain windows — Clean windows can improve natural light and the home's overall appearance. ↑
• Both Landscaping and curb appeal improvements — Well-maintained landscaping can increase the home's curb appeal and attract potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 62,567
• Household income: $62,623
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 3748.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Hispanic 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 1% 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: ▼ -106.38%
• Current HPI: 204.5402
• Rent YoY: ▲ 2.63%
• 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

-13.8% since first listed

14 events — show timeline

• 2026-05-23 Relisted — FMLS
• 2026-05-23 Price Changed $207,000 FMLS
• 2026-05-15 Contingent — FMLS
• 2026-05-04 Price Changed $219,000 FMLS
• 2026-05-04 Relisted — FMLS
• 2026-04-30 Price Changed $230,000 FMLS
• 2026-04-30 Listing Removed — FMLS
• 2026-04-13 Relisted — FMLS
• 2026-04-13 Price Changed $240,000 FMLS
• 2026-04-02 Pending — FMLS
• 2026-04-01 Listed $275,000 FMLS
• 2022-03-14 Sold (MLS) $256,000 GAMLS
• 2022-02-26 Pending — GAMLS
• 2022-02-18 Listed $240,000 GAMLS