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    2231 Penelope St NW Atlanta, GA 30314

    For Sale
    $215,000

    Other - Atlanta, GA

    Lot size:
    0.42 Acres
    Days on Market:
    26
    Last Refresh:
    Dec 14 at 9:06 am

    Property Features for 2231 Penelope St NW

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    14 017900060166
    Parking
    4
    Parking features
    None
    Lot size
    0.42 Acres

    Building Details

    Year built
    1950
    Floors in Building
    1
    Number of units
    1
    Architectural style
    Other

    Virtual Properties Realty Biz (770) 495-5050 [email protected]

    Listing agent James McGeehan (770) 495-5050

    Listing date Nov 19, 2025

    MLS# 7652625 Listing URL

    Copyright © 2025 First Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Atlanta Ranch Investment Property

    This recently remodeled single-story ranch in Atlanta, Georgia, presents a turnkey investment opportunity. The property is currently rented at $1843 per month through March 2026. The residence has been renovated and features a new roof, new siding, and new windows. The 3-bedroom, 2-bathroom home is described as 90% complete, requiring less than $20,000 in remaining repairs. The bathrooms have been fully updated. The property is situated on a 0.42-acre lot. The tenant is responsible for all utilities. The property is currently generating Section 8 rental income with automatic payments received on the first of each month.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Atlanta
    County
    Cobb
    State
    Georgia
    Longitude
    -84.456935
    Latitude
    33.756356

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    FAQs

    What type of property is this?
    Single family property - Turnkey, renovated single-story ranch, generating rental income through March 2026.
    Where is this single family property located?
    The property is located at 2231 Penelope St NW Atlanta, GA.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: - Turnkey investment property with existing tenant and lease through March 2026, generating $1843/month.; - Recently remodeled with **new roof, new siding, and new windows**.; - Section 8 rental income with automatic payments.
    (770) 495-5050
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    Atlanta, GA 30314
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2231 Penelope St NW Atlanta, GA 30314
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