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List Price $599,999
Units 2
Price / Unit $300,000

High-demand multifamily opportunity in Atlanta, GA

Properties with strong cash flow potential in this market typically receive multiple offers quickly.

506 Old Wheat Street NE Atlanta, GA 30312
FMLS Data last updated: July 25, 2026 at 12:24 AM
✓ FMLS Listing • Investor Analyzed
PROPERTY DESCRIPTION
Lovely renovated and fully occupied duplex in the heart of Old Fourth Ward! Just steps from Krog Street Market, the Atlanta BeltLine Eastside Trail, Edgewood Avenue, and the Martin Luther King Jr. National Historical Park, this unbeatable location offers exceptional walkability. Both units feature spacious 1BR/1BA floor plans with hardwood floors, updated kitchens and baths, granite countertops, stainless steel appliances, 10-foot ceilings, and decorative fireplaces that blend historic charm with modern style. Each unit also includes a separate laundry room with washer and dryer. New deck. A turnkey investment with immediate income and future flexibility for an owner-occupant, short-term rental, or long-term hold.
Investment Context for Atlanta Multifamily:
  • Located in the Atlanta, GA area with access to regional employment centers
  • Typical value-add potential through professional management and improvements
  • Multifamily rental demand varies by submarket — local verification recommended
  • Cash flow performance depends on occupancy, expenses, and market conditions
PROFESSIONAL INVESTMENT ANALYSIS

Modeled using FMLS data + Atlanta market benchmarks

Price per Unit $299,999.5 ✓ Verified
Est. Cap Rate — 📊 Cap Rate Modeled
Est. Gross Income — 📊 Gross Modeled
Est. NOI — ⚡ Estimated
Est. Year 1 Cash Flow — after estimated debt service 📊 Cash Flow Modeled
✅ Confidence scores included ✅ Latest FMLS data ✅ Transparent modeling
CASH FLOW PROJECTION TOOL

Adjust assumptions to see personalized 5-year projections (Using market-based estimate)

Year 1 NOI $0
Year 1 Cash Flow $0
Year 1 Cash-on-Cash 0%
Est. Year 5 Property Value $0
Total 5-Year Cash Flow $0
* These are estimates based on available listing data and Atlanta metro market benchmarks. Detailed seller financials were not provided, so NOI was modeled conservatively. Always verify all numbers independently and consult your own professionals before making investment decisions.
SIMILAR INVESTMENT OPPORTUNITIES

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IMPORTANT INVESTMENT DISCLAIMER
Important Investment Information

All financial estimates (NOI, Cap Rate, Cash Flow, Year 5 projections, etc.) are modeled using Atlanta metro market benchmarks combined with available FMLS listing data.

This website and its content are for informational and educational purposes only. Nothing on this site constitutes financial, investment, tax, or real estate advice. All information is deemed reliable but not guaranteed. You should always conduct your own thorough due diligence, verify all data independently, review the physical condition of the property, and consult with your own qualified attorney, accountant, and investment advisor before making any purchase decision.

MLS ID: 7781450 • Listing courtesy of HomeSmart, Tracy Witherspoon • 678-313-4003

IDX Information Provided by Jeff Crowe • jeffcrowe@c21theavenues.com
FMLS • Updated Daily • Investor Analyzed
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