3556 Main St · College Park, GA 30337

$1,399,900

96 bd · 64.0 ba · — sqft · MultiFamily · 36 Days on market

Built 1920 Poor condition 0.53 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +1.3/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

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 MLS

Professionally managed by DHC Property Management. This fully renovated 8-unit multifamily property is located in the heart of Historic College Park and offers strong income potential with additional upside. The property is currently generating approximately $7,800/month with two vacant units remaining to be leased. Once fully occupied, projected gross monthly income is approximately $10,900/month. An additional detached building provides excellent value-add potential - ideal for conversion into a shared laundry facility for added passive income or the opportunity to create another rental unit (buyer to verify zoning and permitted use). Recent renovations make this a turnkey investment opportunity for buyers seeking immediate cash flow with future upside.

Key facts

• Fully renovated
• Value-add potential
• Detached building

Tags

• FULLY RENOVATED
• STRONG INCOME POTENTIAL
• DETACHED BUILDING
• VALUE-ADD POTENTIAL
• SHARED LAUNDRY FACILITY
• RENTAL UNIT

Property features AI

Finance

• Financial info: 8 total units; Unit rents vary (examples: $1,725; $1,545; $1,500; $1,499; $1,450; $1,200; $1,150; $1,025); Deposit amounts generally match one-month rent

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Cable available; Electricity available; Natural gas available
• Home design: Two-story building; Shingle siding exterior; Shingle roof; Resale condition
• Construction: Shingle siding construction
• Exterior features: Near public transportation; Near schools; Near shopping; Restaurants nearby; Sidewalks

Interior

• Kitchen: Range/oven in units; Refrigerator in units; Dishwasher in some units; Microwave in at least one unit
• Bedrooms: Unit mix includes 1- and 2-bedroom apartments across the building (units with 1 or 2 bedrooms)
• Flooring: Hardwood flooring in multiple units
• Bathrooms: Each unit is a one-bath layout
• Heating & cooling: Central heating; Central air in many units
• Interior features: Ceiling fans; Hardwood floors; Smoke alarm; Disposal
• Laundry & utility: Some units include garbage service; Water service included for units; Maintenance not included for most units (one unit indicates maintenance included)

What this means for you Summary

Snapshot

• This is a 8 × 12-bed/8.0-bath units multifamily listed at $1.40M. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $7k ($81k/yr) — positive. Per door: $841/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $1.40M).
• Recommended offer: $1.36M (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#408 in GA) — a working-class tenant base; expect higher turnover. Strengths: commute A+, cost of living A+, housing A-; Watch: crime F, amenities F, employment D-.
• Fulton County (suburban): math 49% / reading 53% proficiency, ranked #12 of 174 in GA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Parklane Elementary School (math 24% / reading 24%, grade F, #753 of 1,228 statewide, top 64%, 320 students, 100% FRL); Paul D. West Middle School (math 17% / reading 17%, grade F, #381 of 470 statewide, top 82%, 803 students, 100% FRL); Tri-Cities High School (math 5% / reading 30%, grade F, #264 of 424 statewide, top 63%, 1,483 students, 100% FRL) — zoned schools average 100% FRL vs 41% district-wide (59 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 51% district-wide (-31 pts) — the specific schools serving this property underperform the Fulton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-5.0%/yr); 116 active listings in the ZIP; 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 $10k of loan paydown is wiped out by about $42k 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 + 0.0% rent growth), your $392k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($1.36M) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 3y 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 $788k; list at $1.40M implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,357,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. 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: 1.48% ✓
• Cap rate: 12.06%
• Cash-on-cash: 20.61%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.36×
• Total profit: $141,345
• Equity at exit: $208,730

10-year hold

• IRR: 16.0%
• Equity multiple: 2.13×
• Total profit: $441,219
• Equity at exit: $121,038

Cash invested: $391,972 (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 30337

• Rents YoY: -5.0%
• Active inventory: 116
• Price-to-rent: 44.9×

Monthly cashflow live

• Estimated rent: $20,767 medium
• Mortgage (P&I): −$7,341
• Tax est. 1.5%: −$1,750 /mo · $20,998/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,361
• Net cashflow: $6,732

Break-even live

Break-even rent $12,246

Max offer price $1,399,900

Occupancy floor 63%

Sensitivity live

Price	-10% $7,699	-5% $7,215	+0% $6,732	+5% $6,248	+10% $5,764
Rent	-10% $5,091	-5% $5,911	+0% $6,732	+5% $7,552	+10% $8,372
Rate	-1.0pp $7,437	-0.5pp $7,088	base $6,732	+0.5pp $6,369	+1.0pp $6,000

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

Units	Beds	Baths	Est. rent
▸ 8× units	12	8	$20,768
Total (8 units)			$20,767

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: $349,975
• Closing costs: $41,997
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $1,399,900 Active 36 DOM
2. 2026-06-18
   days on market $1,399,900 Active 33 DOM
3. 2026-06-17
   days on market $1,399,900 Active 32 DOM
4. 2026-06-16
   days on market $1,399,900 Active 31 DOM
5. 2026-06-15
   days on market $1,399,900 Active 30 DOM
6. 2026-06-13
   days on market $1,399,900 Active 28 DOM
7. 2026-06-09
   days on market $1,399,900 Active 24 DOM
8. 2026-06-08
   days on market $1,399,900 Active 23 DOM
9. 2026-06-07
   days on market $1,399,900 Active 22 DOM
10. 2026-06-04
    days on market $1,399,900 Active 19 DOM
11. 2026-06-03
    days on market $1,399,900 Active 18 DOM
12. 2026-06-01
    days on market $1,399,900 Active 16 DOM
13. 2026-05-31
    days on market $1,399,900 Active 15 DOM
14. 2026-05-16
    listed $1,399,900 New 774-char remark

    Show marketing remark (774 chars)

    Professionally managed by DHC Property Management. This fully renovated 8-unit multifamily property is located in the heart of Historic College Park and offers strong income potential with additional upside. The property is currently generating approximately $7,800/month with two vacant units remaining to be leased. Once fully occupied, projected gross monthly income is approximately $10,900/month. An additional detached building provides excellent value-add potential - ideal for conversion into a shared laundry facility for added passive income or the opportunity to create another rental unit (buyer to verify zoning and permitted use). Recent renovations make this a turnkey investment opportunity for buyers seeking immediate cash flow with future upside.

15. 2026-05-16
    listed $1,399,900 Active

    Show marketing remark (774 chars)

    Professionally managed by DHC Property Management. This fully renovated 8-unit multifamily property is located in the heart of Historic College Park and offers strong income potential with additional upside. The property is currently generating approximately $7,800/month with two vacant units remaining to be leased. Once fully occupied, projected gross monthly income is approximately $10,900/month. An additional detached building provides excellent value-add potential - ideal for conversion into a shared laundry facility for added passive income or the opportunity to create another rental unit (buyer to verify zoning and permitted use). Recent renovations make this a turnkey investment opportunity for buyers seeking immediate cash flow with future upside.

16. 2024-12-16
    historical $1,750
17. 2024-12-16
    listed $1,750
18. 2024-09-24
    historical $1,850
19. 2024-09-21
    listed $1,850
20. 2024-09-21
    historical $1,850
21. 2024-09-11
    price $1,850
22. 2024-08-13
    listed $1,650
23. 2024-08-01
    historical $1,650
24. 2024-07-24
    listed $1,650
25. 2024-07-15
    historical $1,650
26. 2024-06-12
    listed $1,650
27. 2023-12-01
    soldstatus $788,000 Closed 673-char remark

    Show marketing remark (673 chars)

    Own a piece of History! This 8 unit apartment building has never changed hands since purchased in 1895! Once served as an overflow dormitory for Cox College(1846-1934) in Historic College Park. Close to Woodward Academy and Downtown College Park and minutes to Downtown Atlanta! Sitting proudly at the corner of E Main St and John Calvin Ave this 7500+ sq ft building is a little over 1/2 acre lot with ample parking. 8 unique apartments of various shapes and sizes are in need of renovation. All currently occupied except 1 and rent rolls are small. $450-500. Priced to sell as is. Open to show on a week by week basis as not to disrupt tenants. Huge potential and value!

28. 2023-12-01
    soldstatus $788,000 Sold

    Show marketing remark (673 chars)

    Own a piece of History! This 8 unit apartment building has never changed hands since purchased in 1895! Once served as an overflow dormitory for Cox College(1846-1934) in Historic College Park. Close to Woodward Academy and Downtown College Park and minutes to Downtown Atlanta! Sitting proudly at the corner of E Main St and John Calvin Ave this 7500+ sq ft building is a little over 1/2 acre lot with ample parking. 8 unique apartments of various shapes and sizes are in need of renovation. All currently occupied except 1 and rent rolls are small. $450-500. Priced to sell as is. Open to show on a week by week basis as not to disrupt tenants. Huge potential and value!

29. 2023-10-17
    status Under Contract
30. 2023-10-14
    status Pending 673-char remark

    Show marketing remark (673 chars)

    Own a piece of History! This 8 unit apartment building has never changed hands since purchased in 1895! Once served as an overflow dormitory for Cox College(1846-1934) in Historic College Park. Close to Woodward Academy and Downtown College Park and minutes to Downtown Atlanta! Sitting proudly at the corner of E Main St and John Calvin Ave this 7500+ sq ft building is a little over 1/2 acre lot with ample parking. 8 unique apartments of various shapes and sizes are in need of renovation. All currently occupied except 1 and rent rolls are small. $450-500. Priced to sell as is. Open to show on a week by week basis as not to disrupt tenants. Huge potential and value!

31. 2023-09-30
    historical Active Under Contract 673-char remark

    Show marketing remark (673 chars)

    Own a piece of History! This 8 unit apartment building has never changed hands since purchased in 1895! Once served as an overflow dormitory for Cox College(1846-1934) in Historic College Park. Close to Woodward Academy and Downtown College Park and minutes to Downtown Atlanta! Sitting proudly at the corner of E Main St and John Calvin Ave this 7500+ sq ft building is a little over 1/2 acre lot with ample parking. 8 unique apartments of various shapes and sizes are in need of renovation. All currently occupied except 1 and rent rolls are small. $450-500. Priced to sell as is. Open to show on a week by week basis as not to disrupt tenants. Huge potential and value!

32. 2023-09-06
    listed $799,000 Active 673-char remark

    Show marketing remark (673 chars)

    Own a piece of History! This 8 unit apartment building has never changed hands since purchased in 1895! Once served as an overflow dormitory for Cox College(1846-1934) in Historic College Park. Close to Woodward Academy and Downtown College Park and minutes to Downtown Atlanta! Sitting proudly at the corner of E Main St and John Calvin Ave this 7500+ sq ft building is a little over 1/2 acre lot with ample parking. 8 unique apartments of various shapes and sizes are in need of renovation. All currently occupied except 1 and rent rolls are small. $450-500. Priced to sell as is. Open to show on a week by week basis as not to disrupt tenants. Huge potential and value!

33. 2023-09-06
    listed $799,000 New

    Show marketing remark (673 chars)

    Own a piece of History! This 8 unit apartment building has never changed hands since purchased in 1895! Once served as an overflow dormitory for Cox College(1846-1934) in Historic College Park. Close to Woodward Academy and Downtown College Park and minutes to Downtown Atlanta! Sitting proudly at the corner of E Main St and John Calvin Ave this 7500+ sq ft building is a little over 1/2 acre lot with ample parking. 8 unique apartments of various shapes and sizes are in need of renovation. All currently occupied except 1 and rent rolls are small. $450-500. Priced to sell as is. Open to show on a week by week basis as not to disrupt tenants. Huge potential and value!

ⓘ 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 ≥103°F today · 18 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: $249,204
• − Mortgage interest: −$78,416
• − Property taxes: −$20,998
• − Insurance: −$7,000
• − Repairs & maintenance: −$19,936
• − Management: −$19,936
• − Depreciation: −$40,724
• Taxable income: $62,193
• Est. tax owed @ 24.0%: −$14,926
• After-tax cash flow: $65,852/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 · 1 photo

Poor 20/100 Extensive rehab

This 8-unit multifamily property requires extensive renovations to improve its condition and increase its resale and rental value.

Repairs flagged

• Major exterior siding — Significant damage and peeling
• Major roof — Visible damage and potential leak
• Major flooring — Worn and damaged
• Major interior walls/paint — Peeling paint and visible damage
• Major windows — Old and possibly non-functioning
• Major HVAC/mechanicals — No visible signs of recent maintenance

Value-add opportunities

• Both exterior renovation — Improves curb appeal and rental value
• Both interior renovation — Enhances living conditions and rental appeal
• Both HVAC upgrade — Improves comfort and energy efficiency
• Both landscaping — Enhances curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant damage and peeling	Major	$15,000–50,000
roof · Visible damage and potential leak	Major	$15,000–50,000
flooring · Worn and damaged	Major	$15,000–50,000
interior walls/paint · Peeling paint and visible damage	Major	$15,000–50,000
windows · Old and possibly non-functioning	Major	$15,000–50,000
HVAC/mechanicals · No visible signs of recent maintenance	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both exterior renovation — Improves curb appeal and rental value ↑
• Both interior renovation — Enhances living conditions and rental appeal ↑
• Both HVAC upgrade — Improves comfort and energy efficiency ↑
• Both landscaping — Enhances curb appeal and rental value ↑

ⓘ 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: Fulton County
• NCES district ID: 1302280
• Math proficiency: 49% ▼ -2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $68,035
• Composite: 45.33/100
• National rank: #2640
• State rank: #12 of 174 in GA

Livability — College Park

• Score: 59/100
• State rank: #408
• US rank: #20212

Category grades

Amenities F Commute A+ Cost of living A+ Crime F Employment D- Housing A- Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: College Park, GA
• County: Fulton County · 1,094,430 people
• City population: 10,694
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 10,694
• Household income: $51,388
• Rent vs Own: 72.4% rent · 27.6% own
• Severe rent burden: 1059.0

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 (80%)
• Race & ethnicity: Black 80% White 11% Two or more races 4% Hispanic / Latino 3% Asian 3%
• Common ancestry: Italian 1%
• Foreign-born: 6% · Canada, China, Jamaica
• Languages at home: 92% English-only · Spanish 3% Chinese 1% 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: ▼ -183.85%
• Current HPI: 199.4425
• Rent YoY: ▼ -4.98%
• 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

+75.2% since first listed

20 events — show timeline

• 2026-05-16 Listed $1,399,900 FMLS
• 2026-05-16 Listed $1,399,900 GAMLS
• 2024-12-16 Rental Removed $1,750 RENTALBEAST
• 2024-12-16 Listed for Rent $1,750 RENTALBEAST
• 2024-09-24 Rental Removed $1,850 RENTALBEAST
• 2024-09-21 Listed for Rent $1,850 RENTALBEAST
• 2024-09-21 Rental Removed $1,850 APPFOLIO
• 2024-09-11 Price Changed $1,850 APPFOLIO
• 2024-08-13 Listed for Rent $1,650 APPFOLIO
• 2024-08-01 Rental Removed $1,650 RENTALBEAST
• 2024-07-24 Listed for Rent $1,650 RENTALBEAST
• 2024-07-15 Rental Removed $1,650 APPFOLIO
• 2024-06-12 Listed for Rent $1,650 APPFOLIO
• 2023-12-01 Sold (MLS) $788,000 GAMLS
• 2023-12-01 Sold (MLS) $788,000 FMLS
• 2023-10-17 Pending — GAMLS
• 2023-10-14 Pending — FMLS
• 2023-09-30 Contingent — FMLS
• 2023-09-06 Listed $799,000 GAMLS
• 2023-09-06 Listed $799,000 FMLS