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986 Wylie St SE
Score
0
Atlanta, GA

986 Wylie St SE

950K
4 bd • 3 ba • 2,321 sf

This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$950,000

Price/Sq.Ft

$409

Year Built

2006

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This property excels with its prime location in Reynoldstown, just steps from the Atlanta Beltline. The home has seen significant appreciation, increasing 72.7% from its last sale price in 2020. At $409.31/sqft, it's competitively priced compared to the median price of $450/sqft for similar homes in the area. Recent updates include a chef's kitchen with quartz countertops and stainless steel appliances, freshly refinished hardwood floors, and a spa-inspired primary bathroom. The property boasts excellent outdoor living spaces with a screened porch, sunny deck, and private fenced backyard with a firepit. Its 2,321 sqft layout is 15% larger than the neighborhood average of 2,000 sqft for similar homes. The property's flood risk score of 1/10 is significantly better than the area average of 3/10. Current rental rates for 4-bedroom homes in the area are $2,420/month, suggesting a potential 3.1% cap rate.

The Bad

The property has been on the market for 51 days, which is above the Atlanta average of 30 days, suggesting potential pricing or market challenges. The home's age (built in 2006) means it may require some system updates in the coming years. The local schools have mixed ratings, with the nearest elementary school rated 7/10, but the middle and high schools rated only 3/10 and 4/10 respectively. This could impact long-term value and attractiveness to families. The estimated insurance cost of $3,420/year is about 15% higher than the Atlanta average of $2,970/year for similar homes, likely due to the property's value and location.

The Ugly

The rapid appreciation of 72.7% since 2020 raises concerns about potential market volatility and the sustainability of such growth. This could lead to challenges in future appreciation or even a market correction. The total monthly ownership costs are high at approximately $6,150 ($4,500 mortgage + $285 insurance + $1,000 property taxes + $365 estimated maintenance). The heat risk score of 5/10 is concerning, with 7 days per year expected to reach 104°F, which could lead to increased cooling costs and potential comfort issues. The moderate air quality risk (4/10) with 5 bad air days per year could be a health concern for sensitive individuals.

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Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideal for buyers with a household income above $250,000 (based on a 28% front-end DTI ratio). It's perfect for young professionals or small families who prioritize walkability and urban amenities. The property suits those who value outdoor living spaces and entertain frequently. Investors looking for long-term appreciation in a rapidly growing area might also find this property attractive, given its prime location near the Beltline and recent price trends.

Not For

Not suitable for budget-conscious buyers or those with household incomes below $250,000 due to high monthly costs. The property may not be ideal for families heavily prioritizing top-rated public schools across all levels. Not recommended for investors seeking immediate high rental yields, as the current potential cap rate of 3.1% is relatively low. The property's size and layout may not suit larger families needing more than 4 bedrooms or those requiring single-level living.
Demographics
Area Median Income

$82,645

Property History

Price History
Ownership Timeline
$550,000Cash Purchase
Feb 7, 2020
Patrick KiddaSarah H Obryan, Wayne G Obryan
Warranty Deed
Standard Sale (Purchase/Resales)
$249,900Financed
Sep 19, 2008
986 Wylie Street Se Re TrustPatrick G Kidda
Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Sep 19, 2007
Sharon M Primus986 Wylie Stse Residl Land
Quit Claim Deed
Non-Arm's Length Transactions
$450,000Financed
Dec 5, 2006
Classic Building & Design IncSharon Mull-Primus
Deed
Standard Sale (Purchase/Resales)

Property Taxes

$7,684
2023 Tax Assessment
33.6%from previous year
Assessed Value$304,400
Tax Rate2.52%

Sunlight Analysis

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Sunlight Analysis

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Risk Assessment

Climate Risks

heatMODERATE

7 extreme heat days per year

98th percentile: 104°F

airMODERATE

5 bad air quality days per year

windMODERATE

Insurance: Recommended

floodMINIMAL

FEMA Zone: Minimal Risk Area

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

The rapid 72.7% price appreciation since 2020 poses a risk of market correction or slowed future growth. The moderate wind risk (4/10) and recommended wind insurance could lead to increased insurance costs over time. While currently minimal, the fire risk (1/10) should be monitored due to increasing temperatures and climate change impacts. The high monthly costs ($6,150) make the property vulnerable to economic downturns or changes in the owner's financial situation. The mixed school ratings could impact long-term value appreciation, especially if school performance declines further.
Insurance
Annual Cost

$3,420

$285 per month

Cost & Affordability

Monthly Costs

Breakdown of estimated monthly expenses for this property

Monthly Payment
$0
* Estimated at 1% of home value annually. Actual costs may vary.
Not Included in Estimate
• Utilities (electricity, gas, water, internet)
• Home improvements and upgrades
• Landscaping and yard maintenance
• Pest control and home services
• Emergency repairs and replacements

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20.0% of purchase price

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$950 monthly
$285 monthly

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Schools

Showing top 5 of 8 schools

Lin Elementary School

Public•Grades K-5
7/10
Elementary
641 students

Grady High School

Public•Grades 9-12
7/10
High
1,332 students

Inman Middle School

Public•Grades 6-8
6/10
Middle
1,075 students

Burgess-Peterson Elementary School

Public•Grades PK-5
6/10
Elementary
474 students

Parkside Elementary School

Public•Grades PK-5
5/10
Elementary
629 students

Financials

Monthly Costs
Market Rent (4 bed)

$2,420

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$950,000
Price/sqft
$409
Layout
4 bd•3 ba
Days on market
51 daysat time of analysis

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$826,683

14.9%

Your price is 14.9% above average

Median Price

$771,800

23.1%

Based on 6 recent sales

Price per Sq.Ft

$346

18.3%

Your price is 18.3% above average $/sqft

Comparable Properties

198 Hutchinson Street NE #A, Atlanta, GA 30307
Price: $749,000
Sq.Ft: 2,286
Beds/Baths: 4/3
$/Sq.Ft:
$32820.0%
Sale Date: 11/21/2024
827 Lake Avenue NE, Atlanta, GA 30307
Price: $1,175,000
Sq.Ft: 2,372
Beds/Baths: 4/3
$/Sq.Ft:
$49521.0%
Sale Date: 11/21/2024
435 Patterson Avenue SE, Atlanta, GA 30316
Price: $817,500
Sq.Ft: 2,382
Beds/Baths: 3/3
$/Sq.Ft:
$34316.2%
Sale Date: 10/17/2024
281 Lamon Avenue SE, Atlanta, GA 30316
Price: $675,000
Sq.Ft: 2,283
Beds/Baths: 4/3
$/Sq.Ft:
$29627.8%
Sale Date: 10/3/2024
115 Leslie Street SE, Atlanta, GA 30317
Price: $771,800
Sq.Ft: 2,502
Beds/Baths: 4/3
$/Sq.Ft:
$30824.6%
Sale Date: 10/18/2024
115 Leslie Street SE, Atlanta, GA 30317
Price: $771,800
Sq.Ft: 2,502
Beds/Baths: 4/3
$/Sq.Ft:
$30824.6%
Sale Date: 10/18/2024

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