1451 Kennesaw Dr NW · Atlanta, GA 30318

$400,000

3 bd · 3.0 ba · 2,658 sqft · MultiFamily public records · 35 Days on market

Built 2005 0.29 ac lot

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Why this score? — see what drove the C- 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 +19.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.1/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Good Duplex investment opportunity. Great opportunity for a steady income ivestment. TLC needed. Each unit has 3 bedrooms and 2 baths, one unit has a bonus room. Located just minutes outside of Downtown Atlanta.

Key facts

• Public transit
• Level backyard
• Quarry yards

Tags

• VACANT DUPLEX
• INCOME-PRODUCING OPPORTUNITY
• LEVEL BACKYARD
• PUBLIC TRANSIT
• QUARRY YARDS
• WESTSIDE RESERVOIR PARK

Property features AI

Finance

• Other: Wind energy generation
• Financial info: Two-unit multifamily property

Exterior

• Parking: 4 parking spaces; Level driveway; Open parking
• Utilities: Public water; Public sewer; Electricity available; Cable available; Phone available
• Home design: Two-story; Resale property
• Construction: Frame construction with wood siding; Shingle roof
• Exterior features: Park nearby

Interior

• Kitchen: Dishwasher; Range/Oven
• Bedrooms: 7 bedrooms
• Bathrooms: 4 bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Vacant; Two levels
• Laundry & utility: Washer/Dryer connection

What this means for you Summary

Snapshot

• This is a 1×4bd/2.0ba + 1×3bd/2.0ba units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive. Per door: $237/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Recommended offer: $388k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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: Woodson Park Academy School (math 2% / reading 2%, grade F, #1,204 of 1,228 statewide, top 100%, 863 students, 100% FRL); John Lewis Invictus Academy (math 2% / reading 2%, grade F, #470 of 470 statewide, top 100%, 825 students, 100% FRL); Frederick Douglass High School (math 24%, 1,112 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 2% at this address vs 32% district-wide (-29 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 (+3.3%/yr); 732 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $4,052/mo this rent would consume 59% of the median local household income ($83k/yr) (locally 4182% 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 $3k of loan paydown is wiped out by about $12k 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 35 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $22k; list at $400k implies a 1678% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $388,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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: 1.01% ✓
• Cap rate: 7.71%
• Cash-on-cash: 5.07%
• DSCR: 1.23
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.26% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.70×
• Total profit: $-33,573
• Equity at exit: $59,641

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $14,120
• Equity at exit: $34,585

Cash invested: $112,000 (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 30318

• Rents YoY: 3.3%
• Active inventory: 732
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $4,052 high
• Mortgage (P&I): −$2,098
• Tax from tax record: −$464 /mo · $5,562/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$851
• Net cashflow: $473

Break-even live

Break-even rent $3,453

Max offer price $400,000

Occupancy floor 83%

Sensitivity live

Price	-10% $700	-5% $586	+0% $473	+5% $360	+10% $247
Rent	-10% $153	-5% $313	+0% $473	+5% $633	+10% $793
Rate	-1.0pp $675	-0.5pp $575	base $473	+0.5pp $370	+1.0pp $264

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	4	2	$2,141
1× unit	3	2	$1,912
Total (2 units)			$4,052

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1396 Kennesaw Dr NW Unit B Atlanta, GA	4.0	3.0	3000	$3,000	$1.00	25d	1	0.09mi
1400 North Ave NW Unit A Atlanta, GA	3.0	2.0	2456	$2,600	$1.06	25d	1	0.10mi
492 Pierce Ave NW Unit A Atlanta, GA	4.0	2.5	2470	$1,800	$0.73	20d	1	0.22mi
221 Stafford St NW Atlanta, GA	3.0	2.0	2293	$2,400	$1.05	25d	1	0.72mi
56 Holly Rd NW Atlanta, GA	4.0	2.0	3089	$2,850	$0.92	25d	1	0.74mi
1064 Westmoor Dr NW Atlanta, GA	3.0	3.0	1770	$2,300	$1.30	25d	1	0.88mi
1911 Baker Rd NW Atlanta, GA	3.0	2.5	2200	$2,795	$1.27	20d	1	0.89mi
7 Edwin Pl NW Atlanta, GA	4.0	2.5	2600	$2,350	$0.90	6d	1	1.01mi
455 Joseph E Lowery Blvd NW Atlanta, GA	3.0	2.5	1890	$1,950	$1.03	14d	1	1.03mi
2001 Chicago Ave NW Atlanta, GA	4.0	3.0	2504	$2,278	$0.91	0d	1	1.05mi
1380 Mozley Pl SW Atlanta, GA	3.0	2.0	1941	$1,400	$0.72	9d	1	1.12mi
167 Rockmart Dr SW Atlanta, GA	4.0	3.5	2347	$3,033	$1.29	25d	1	1.16mi
198 Wellington St SW Atlanta, GA	3.0	2.5	1787	$2,700	$1.51	25d	1	1.19mi
539 Paines Ave NW Unit 3 Atlanta, GA	2.0	1.0	2520	$1,550	$0.62	25d	1	1.21mi
539 Paines Ave NW Apt 1 Atlanta, GA	2.0	1.0	2520	$1,450	$0.58	25d	1	1.21mi
255 Mathewson Pl SW Atlanta, GA	4.0	3.0	3300	$5,000	$1.52	25d	1	1.30mi
971 Colquitt Pl NW Unit A Atlanta, GA	4.0	3.0	1750	$800	$0.46	25d	1	1.33mi
220 Napoleon Dr SW Atlanta, GA	4.0	3.0	2500	$3,199	$1.28	12d	1	1.34mi
438 Griffin St NW Atlanta, GA	4.0	3.0	2426	$2,750	$1.13	5d	1	1.36mi
740 Liberty Commons Dr NW #1101 Atlanta, GA	3.0	3.5	1890	$2,600	$1.38	25d	1	1.36mi
396 Elm St NW Atlanta, GA	3.0	2.0	1792	$2,100	$1.17	25d	1	1.50mi

Listing history 21 events

1. 2026-06-21
   days on market $400,000 Active 35 DOM
2. 2026-06-18
   days on market $400,000 Active 32 DOM
3. 2026-06-17
   days on market $400,000 Active 31 DOM
4. 2026-06-16
   days on market $400,000 Active 30 DOM
5. 2026-06-15
   days on market $400,000 Active 29 DOM
6. 2026-06-13
   days on market $400,000 Active 27 DOM
7. 2026-06-13
   days on market $400,000 Active 26 DOM
8. 2026-06-09
   days on market $400,000 Active 23 DOM
9. 2026-06-08
   days on market $400,000 Active 22 DOM
10. 2026-06-07
    days on market $400,000 Active 21 DOM
11. 2026-06-04
    days on market $400,000 Active 18 DOM
12. 2026-06-03
    days on market $400,000 Active 17 DOM
13. 2026-06-02
    days on market $400,000 Active 16 DOM
14. 2026-06-01
    days on market $400,000 Active 15 DOM
15. 2026-05-31
    days on market $400,000 Active 14 DOM
16. 2026-05-17
    listed $400,000 Active
17. 2010-06-10
    historical 215-char remark

    Show marketing remark (215 chars)

    Good Duplex investment opportunity. Great opportunity for a steady income ivestment. TLC needed. Each unit has 3 bedrooms and 2 baths, one unit has a bonus room. Located just minutes outside of Downtown Atlanta.

18. 2010-03-19
    soldstatus $22,500 Sold 215-char remark

    Show marketing remark (215 chars)

    Good Duplex investment opportunity. Great opportunity for a steady income ivestment. TLC needed. Each unit has 3 bedrooms and 2 baths, one unit has a bonus room. Located just minutes outside of Downtown Atlanta.

19. 2010-02-25
    status Pending 215-char remark

    Show marketing remark (215 chars)

    Good Duplex investment opportunity. Great opportunity for a steady income ivestment. TLC needed. Each unit has 3 bedrooms and 2 baths, one unit has a bonus room. Located just minutes outside of Downtown Atlanta.

20. 2010-02-07
    historical 215-char remark

    Show marketing remark (215 chars)

    Good Duplex investment opportunity. Great opportunity for a steady income ivestment. TLC needed. Each unit has 3 bedrooms and 2 baths, one unit has a bonus room. Located just minutes outside of Downtown Atlanta.

21. 2010-01-11
    listed $21,900 Active 215-char remark

    Show marketing remark (215 chars)

    Good Duplex investment opportunity. Great opportunity for a steady income ivestment. TLC needed. Each unit has 3 bedrooms and 2 baths, one unit has a bonus room. Located just minutes outside of Downtown Atlanta.

ⓘ 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: $5,562 · $464/mo
• Projected year-2 tax: $5,562 · $464/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 6 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,624
• − Mortgage interest: −$22,406
• − Property taxes: −$5,562
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,890
• − Management: −$3,890
• − Depreciation: −$11,636
• Taxable loss: −$760
• Est. tax savings @ 24.0%: +$183
• After-tax cash flow: $5,862/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): 59,609
• Household income: $83,116
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 4182.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Black 49% White 35% Hispanic / Latino 7% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 1%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 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: ▼ -470.82%
• Current HPI: 224.1493
• Rent YoY: ▲ 3.26%
• 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

+1726.5% since first listed

6 events — show timeline

• 2026-05-17 Listed $400,000 FMLS
• 2010-06-10 Listing Removed — FMLS
• 2010-03-19 Sold (MLS) $22,500 FMLS
• 2010-02-25 Pending — FMLS
• 2010-02-07 Listing Removed — FMLS
• 2010-01-11 Listed $21,900 FMLS

Property tax history

+5.2%/yr

Latest (2025): $5,562 · -3.4% YoY. Source: county tax records.