4232 Notting Hill Dr SW

Atlanta, GA 30331

$207,000D+

3 bd · 2.5 ba · 1,709 sqft · Built 2006 · Townhouse · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,873/mo
• Mortgage (P&I): −$1,086
• Tax + insurance: −$345
• HOA: −$40
• Vac / Maint / Mgmt: −$393
• Net cashflow: $9/mo
• Annual: $108/yr
• Cap rate: 6.34%
• Cash-on-cash: 0.19%
• DSCR: 1.01
• 1% rule: 0.90%
• Cash to close: $57,960

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $207k. Condition is rated fair.
• At list price, monthly cash flow is $9 ($108/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).
• It's been on market 64 days — a 6% lower offer ($195k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $187k (9.5% below list) — sets the bar for 1% rule.
• 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.
• 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).
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• 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.
• Cap rate 6.3% 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.
• This rent runs 36% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• 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.