1095 Tucker Ave #502

Atlanta, GA 30310

$265,000F

3 bd · 3.5 ba · 1,676 sqft · Built 2024 · Condo · Active · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,454/mo
• Mortgage (P&I): −$2,121
• Tax + insurance: −$674
• HOA: −$277
• Vac / Maint / Mgmt: −$515
• Net cashflow: $-1,134/mo
• Annual: $-13,602/yr
• Cap rate: 2.93%
• Cash-on-cash: -12.01%
• DSCR: 0.47
• 1% rule: 0.61%
• Cash to close: $113,264

Investor read

• This is a 3-bed/3.5-bath condo listed at $265k. Condition is rated good.
• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (7.4% below list).
• It's been on market 88 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $240k (9.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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: Finch Elementary (math 2% / reading 2%, grade F, #1,204 of 1,228 statewide, top 100%, 339 students, 100% FRL); Sylvan Hills Middle School (math 5% / reading 12%, grade F, #439 of 470 statewide, top 94%, 445 students, 100% FRL); Carver High School Early College (math 10% / reading 24%, grade F, #269 of 424 statewide, top 65%, 575 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 (+2.8%/yr); 763 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 113d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 2 sale attempts 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.
• At $2,454/mo this rent would consume 56% of the median local household income ($53k/yr) (locally 21% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.