Updated Waterfront Residential Income
For Sale
$240,000
1304 Gettysburg Place, Atlanta, GA 30350
Condo with pond views, a renovated open kitchen, sunroom, and low-maintenance community services.
Property Size1,100 SF
Price / SF$218.18
Days on Market52
Property Features for 1304 Gettysburg Place
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Building Details
Year Built
1988
Listing Agency:
Hirsh Real Estate- SandySprings.com
(404) 317-1138
Listed By:
Marci Robinson
(404) 317-1138
Source:
Sandysprings
Added: Jul 11
Changed: Aug 29
Last Checked: Aug 31 at 12:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hirsh Real Estate- SandySprings.com
Investment Insights
Based on property information with market context.
This 1,100 SF residential income property is a waterfront condominium built in 1988, positioned at the rear of its community beside a pond with a fountain. Recent updates include an open-concept kitchen with quartz counters, bar seating, ceiling-height cabinetry, open shelving, revised backsplash, recessed lighting, and new appliances. The residence also features a sunroom, newer Trex deck, mature trees, refreshed interior paint, upgraded cabinet hardware, a renovated primary bathroom, and new patterned carpet in the guest bedroom.
The property is located at 1304 Gettysburg Place in Atlanta, with access to Canton Street less than 4 miles away, GA-400 under 2 miles away, and North Springs MARTA less than 5 miles away. The Chattahoochee River National Recreation Area is also nearby. The community is FHA-approved, while HOA dues cover the building exterior, roof, water, sewer, trash service, and pest control.
The property is located at 1304 Gettysburg Place in Atlanta, with access to Canton Street less than 4 miles away, GA-400 under 2 miles away, and North Springs MARTA less than 5 miles away. The Chattahoochee River National Recreation Area is also nearby. The community is FHA-approved, while HOA dues cover the building exterior, roof, water, sewer, trash service, and pest control.
Key Highlights
- 1,100 SF waterfront condominium built in 1988
- Pond setting with fountain, sunroom, and newer Trex deck
- Open‑concept kitchen with quartz counters, bar seating, and new appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,133
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$242,660
$242.7K
Cap Rate 7%
$173,329
$173.3K
Cap Rate 9%
$134,811
$134.8K
Market Conditions
NOI Build-Up for 1,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.1K $21.00/SF
− Vacancy
−$1.0K −$0.95/SF
EGI
$22.1K $20.06/SF
− OpEx
−$9.9K −$9.02/SF
NOI
$12.1K $11.03/SF
Area
Atlanta, GA
Vacancy
4.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$242,660
Cap Rate 7%
$173,329
Cap Rate 9%
$134,811
Alternative Uses
Best Use
Apartment 5plus
$173.3K
$151.7K – $202.2K
NOI $12,133 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$307.5K
$269.1K – $358.7K
NOI $21,524 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
Explore this area
Business Placement
Demographics for 30350, GA
35,882
Population
19,892
Households
1.8
Avg Household Size
36
Median Age
63%
College-Educated
98%
High-School Grad
12.6 sq mi
ZIP Area
2,848
Density / Sq Mi
$84,633
Median Household Income
$57,899
Median Earnings
$1,645
Median Rent
$512,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo with pond views, a renovated open kitchen, sunroom, and low-maintenance community services.
Where is this residential income property located?
The property is located at 1304 Gettysburg Place Atlanta, GA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1,100 SF waterfront condominium built in 1988; Pond setting with fountain, sunroom, and newer Trex deck; Open‑concept kitchen with quartz counters, bar seating, and new appliances
