Corner Unit Condo in
For Sale
$335,000
4810 Ivy Ridge Drive SE #204, Smyrna, GA 30339
Well-maintained 2-bedroom condo with resort-style amenities and convenient location.
Property Size1,630 SF
Price / SF$205.52
Days on Market421
Property Features for 4810 Ivy Ridge Drive SE #204
General Information
Standard status
Active
Size
1,630 SF
Property subtype
Condominium
Amenities
Security System
Central Air
Natural Gas
Ceiling Fan(s)
Forced Air
Dishwasher
Disposal
Dryer
Gas Cooktop
Gas Oven
Gas Water Heater
Microwave
Washer
Patio, Porch, Cable Available, Electricity Available, Natural Gas Available, Water Available, Composition
Building Details
Building Size
1,630 SF
Year Built
2003
Listing Agency:
Atlanta Communities
Listed By:
First MLS
(404) 918-8752
Source:
Kw
Added: Jul 12, 2025
Changed: Aug 31
Last Checked: Sep 4 at 5:13PM
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 Atlanta Communities
Investment Insights
Based on property information with market context.
This beautifully maintained corner unit is located on the first floor of Olde Ivy. The light-filled condo features an open-concept layout with granite countertops, built-in bookshelves, and a fireplace. The oversized primary suite includes a double vanity, a soaking tub with shower, and a walk-in closet. A large private deck is also included. The unit also features an in-unit washer and dryer, a reserved parking spot in the deck, and a private storage unit. Please note that there is no refrigerator. Olde Ivy is a gated community with amenities including a pool, clubhouse, fitness center, and landscaped walking trails. The HOA hosts monthly social events. The property is located minutes from Truist Park and the heart of Vinings, with access to I-285.
Key Highlights
- Gated community with resort‑style amenities: pool, clubhouse, fitness center, walking trails.
- Prime location: minutes from Truist Park, Vinings, and I‑285 access.
- Oversized primary suite**: double vanity, soaking tub with shower, walk‑in closet.
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
$21,897
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
6.54%
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%
$437,940
$437.9K
Cap Rate 7%
$312,814
$312.8K
Cap Rate 9%
$243,300
$243.3K
Market Conditions
NOI Build-Up for 1,630 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
$42.4K $26.04/SF
− Vacancy
−$2.6K −$1.61/SF
EGI
$39.8K $24.43/SF
− OpEx
−$17.9K −$10.99/SF
NOI
$21.9K $13.43/SF
Area
Cobb County, GA
Vacancy
6.20%
Lease Rate
$26.04 /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%
$437,940
Cap Rate 7%
$312,814
Cap Rate 9%
$243,300
Alternative Uses
Best Use
Apartment 5plus
$312.8K
$273.7K – $365.0K
NOI $21,897 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$457.7K
$400.5K – $534.0K
NOI $32,039 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,409
Businesses Nearby
Explore this area
Business Placement
Demographics for 30339, GA
31,490
Population
21,303
Households
1.5
Avg Household Size
35
Median Age
71%
College-Educated
99%
High-School Grad
9.9 sq mi
ZIP Area
3,181
Density / Sq Mi
$101,049
Median Household Income
$66,949
Median Earnings
$1,820
Median Rent
$437,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 2-bedroom condo with resort-style amenities and convenient location.
Where is this apartment building located?
The property is located at 4810 Ivy Ridge Drive SE #204 Smyrna, GA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Gated community with resort‑style amenities: pool, clubhouse, fitness center, walking trails.; Prime location: minutes from Truist Park, Vinings, and I‑285 access.; Oversized primary suite**: double vanity, soaking tub with shower, walk‑in closet.
