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    Property profile & analytics

    985 Greenwood NE Ave Atlanta, GA 30306-3832

    • Garden apartment buildings
    • 4,800 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Jan 13, 2025
    $1,411,000
    Value Estimations
    $1,065,000
    Show details
    Cap Rate Potential
    4.9%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US22-1317362
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 985 Greenwood NE Ave

    Year built
    1963
    Construction
    WOOD
    Lot size
    0.23 lot acres
    Property size
    4,800 SF
    Zone code
    RG2
    Property type
    Garden apartment buildings
    APN
    14 001600050404
    APU
    14001600050404

    Description

    This 8-unit apartment building, located at 985 Greenwood Ave NE in Atlanta, GA 30306, presents a compelling investment opportunity. Built in 1963, the property boasts approximately 4,800 square feet on a sizable 0.23-acre lot, offering a density of 35. Each of the eight one-bedroom, one-bathroom units features approximately 600 square feet, with hardwood floors, large walk-in closets, and a linen closet. While some units have stainless steel appliances, most feature white or black appliances. The units are equipped with window unit air conditioning and wall-unit heating. Each unit offers two entry doors for added convenience. Residents enjoy 8 off-street parking spaces accessible via a back alley on Fredrica Street. The building features a crawl space, and the roof is approximately 15 years old. Note that there are no washer/dryer hookups. The property's electrical system utilizes copper wiring, and plumbing is primarily PVC, with some galvanized sections. Current average rent is $1,100 per unit, while market average rents are conservatively estimated at $1,650, suggesting significant upside potential. The asking price is $1,411,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,075,000
      ML approach
      $1,080,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $880,000
      6.5%
      $815,000
      7%
      $755,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Atlanta
    County
    Fulton
    State
    Georgia
    Longitude
    -84.3551
    Latitude
    33.7764
    CBSA code
    12060
    CBSA name
    ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,936
    $128,000
    $112,000
    $240,000
    -
    $320,000
    $280,000
    $600,000

    Comparable in this City

    • Value Estimation
      $970,000
      42,971 SF

      1408 Rock Spgs NE Rd

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      1408 Rock Spgs NE Rd, Atlanta, GA 30306
      View Details
    • Value Estimation
      $905,000
      2,428 SF

      821 Barnett NE St

      GARDEN APT, COURT APT (5+ UNITS) • 2,428 SF
      821 Barnett NE St, Atlanta, GA 30306-5210
      View Details
    • Value Estimation
      $510,000
      6,270 SF

      649 Highland NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 6,270 SF
      649 Highland NE Ave, Atlanta, GA 30306-4561
      View Details
    • Value Estimation
      $3,790,000
      17,280 SF

      1115 Ponce De Leon NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 17,280 SF
      1115 Ponce De Leon NE Ave, Atlanta, GA 30306-4585
      View Details
    • Value Estimation
      $400,000
      5,848 SF

      605 Kimberly NE Ln

      GARDEN APT, COURT APT (5+ UNITS) • 5,848 SF
      605 Kimberly NE Ln, Atlanta, GA 30306-2200
      View Details
    • Value Estimation
      $905,000
      7,008 SF

      1009 Greenwood NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 7,008 SF
      1009 Greenwood NE Ave, Atlanta, GA 30306-3883
      View Details

    Similar Nearby for Sale

    • New
      $1,050,000
      2,640 SF

      Virginia Highland Multifamily Investment Property

      Well-maintained, fully occupied 6-unit building near Beltline and Ponce City Market.
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    • $1,800,000
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      Virginia-Highland Multifamily Investment Opportunity

      Eleven-unit multifamily property in prime Atlanta location near BeltLine.
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    • New
      $1,800,000
      0.23 Acres

      Virginia-Highland Multifamily Investment Opportunity

      11-unit multifamily property near Atlanta BeltLine with income upside.
      996 Greenwood Ave NE, Atlanta, GA 30306
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    • New
      $1,050,000
      2,640 SF

      Virginia Highland Multifamily Investment Opportunity

      Well-maintained, fully occupied six-unit building near Beltline and Ponce City Market.
      758 Saint Charles Ave NE, Atlanta, GA 30306
      View Details
    • $3,200,000

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      Ten-unit apartment building in a sought-after Atlanta neighborhood.
      678 Moreland Ave, Atlanta, GA 30306
      View Details

    Similar Nearby for Lease

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      1,572 SF

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      Spacious 3-bedroom apartment near downtown Va Highlands.
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    • Contact for pricing

      Telephone Factory Lofts

      Live / Work Space Located Directly On The Beltline
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      39,446 SF

      Modern Office Tower on BeltLine

      372,000 SF office tower with BeltLine access.
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    • $1,300 /Mo
      6,625 SF

      Premium Office Suites in Atlanta

      Renovated office suites with skyline views, flexible lease terms.
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      View Details
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    Atlanta, GA 30306-3832
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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