Multifamily

3304 Wheeler Street

Hapeville, GA 30354

Location

3304 Wheeler Street, Hapeville GA 30354

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List Price$369,999
2 Units$185,000 per unit
Est. Year 1 Cash Flow+$1,901
6.5%Est. Cap Rate
2.1%Est. CoC
1.09xEst. DSCR
ScreenableListing evidence · class A
Rents2 / 2 units
Who paysWater tenant · Elec tenant · Gas tenant · Trash tenant
OccupancyNot in remarks
FinancialsMLS GI/NOI empty · Tax $4,037 (2025)

Property Financials

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Data last updated: October 5, 2026 at 4:01 PM EST
ACTIVE
FMLS #7838630
Listing Provided By The Commission Luxury Group LLC · 678-853-5222
Description

Property Description

Great turnkey investment opportunity in Hapeville! This beautifully updated duplex, located at 3302 Wheeler St and 3304 Wheeler St, offers two separate 2-bedroom, 1-bath units, providing an excellent opportunity for an investor or owner-occupant looking for potential rental income. Each unit features a covered front porch, a spacious family room filled with natural light, stainless steel appliances, updated windows, and flexible space ideal for a home office or study area. Enjoy additional outdoor living with covered back decks and a spacious backyard. Major renovations completed in 2022 included a new roof, plumbing, water heaters, electrical wiring, ductwork, LVP flooring, stainless steel appliances, deck improvements, windows, and siding updates. With potential rental income, this property offers both flexibility and income-producing potential. Ideally located less than 10 minutes from Hartsfield-Jackson Atlanta International Airport and convenient to Downtown Hapeville, parks, restaurants, shopping, major highways, and local amenities. Whether adding to an investment portfolio or exploring an owner-occupant opportunity, this updated duplex offers location, functionality, and income potential.

Unit Mix & Available Rent Roll

Breakdown based on data provided in the FMLS listing· HUD Small Area FMR (ZIP 30354, FY2027)shown for comparison

UnitBedsBathsMonthly RentHUD SAFMRElecGasWaterGarbMaint
Unit 121$1,600$1,440-$160NNNNN
Unit 221$1,450$1,440-$10NNNNN
Total2 units$3,050Y = owner-paid · — = unknown

* Rent roll information is taken from the available FMLS listing data. Many multifamily listings do not include complete or verified tenant financials. Always verify actual rents, leases, and operating expenses during due diligence. HUD Small Area Fair Market Rents (ZIP-level payment standards) are published by the U.S. Department of Housing and Urban Development and are shown for comparison only.

Calculator

Investment Calculator

Starts from list price and unit count. Pre-filled from From Rent Roll.. Override any value.

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Repairs, pest, landscaping, cleaning, admin. Water and trash are separate lines. Electric/gas off when tenant-paid.

Conventional = fully amortizing. Commercial = shorter call + balloon. Seller finance = below-market note. Cash = no loan.

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Published from unit rents. Calculator defaults match the hero stack.

Coverage rules
  • GPI pre-fills only from MLS GI, a building-total UnitTypes row, or a rent roll covering ≥ 80% of doors.
  • A single sample rent is not averaged across the building.
  • Vacancy floor is max(5%, 100 − present occupancy in remarks).
  • Mgmt 8% at 8+ units, else 10%. Insurance $800/door. R&M $800/door.
  • Utility allowances turn on only when the who-pays grid or remarks say owner-paid.
  • SAFMR push is mix-weighted and hidden when the sample is extrapolated from thin coverage.
  • Commercial = 30% / 7% / 25-yr amort. Conventional = 25% / 7% / 30-yr. Cash = 100% equity, no debt service. CoC = NOI ÷ price.
Screenable · thin DSCR

Jeff’s Investment Take

Market data · October 2026

Working thesis

Coverage passed, but DSCR 1.09x is thin versus a 1.20x+ commercial floor.

  • Cash flow clears 1.0x and stops there. Most 5+ unit lenders will want a better NOI or a lower basis.
  • Published cap 6.5% sits above county sold NOI cap 6.0%.
Est. Cap Rate6.5%
Est. Cash-on-Cash2.1%
Est. DSCR1.09xconventional
Price / Unit$185,000
vs Local Close $/Door4% below recent close $/door
Local market contextFulton County
Med. close $/door$192,62592 closed · 12 mo
Med. asking rent$1,642
Months of supply10.4Active ÷ (12-mo closed ÷ 12)
County sold gross9.0%Rent ÷ close · T12 sold tape
County asking gross9.0%Rent ÷ list · live asks
County sold NOI cap6.0%Calculator stack on closes

Modeled from available FMLS data, unit mix, and operating assumptions and Fulton County benchmarks. DSCR and cash-on-cash use conventional terms (25% down / 7% / 30-yr) for ≤4 units. Always verify with current rent roll and expenses.

Estimated offer

Price that clears 1.25× DSCR

Modeled basis so in-place NOI covers debt at 1.25× on default conventional terms. Not a bid. If you want to offer — including below this number or below list — start here. Jeff will request the rent roll and T-12 before anyone writes a number.

Estimated offer$321,404$160,702 / door · 13% below list $369,999
  • Solve: max purchase price where modeled NOI ÷ annual debt service = 1.25×.
  • Debt assumed at 25% down / 7% / 30-yr · conventional. Vacancy 5.0%, management 10% of EGI, modeled opex (tax record + insurance / R&M allowances).
  • List is $369,999. The 1.25× basis sits below ask, so financing at list is tight unless rents or expenses move.

Change GPI, expenses, or terms in the Investment Calculator to re-solve. Always confirm with the rent roll and T-12 before writing an offer.

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Disclaimer

Important Investment Information

Median estimated cap, cash-on-cash, and DSCR require MLS gross income or NOI, a dated broker package, a listing building total, or a unit rent roll covering at least 80% of doors. Thin records stay Incomplete — those yields are not printed in the hero or on cards. The calculator is a labeled scenario, not in-place income.

When a line is missing we use disclosed defaults only inside the calculator: vacancy floor of max(5%, 100 − present occupancy in remarks); management 8% of EGI at 8+ units otherwise 10%; insurance $800 per door; R&M $800 per door. Utility allowances turn on only if the who-pays grid or remarks say owner-paid (water $900–1,800 per door until a T-12). A single who-pays row does not set the building. We do not use an all-in “other” of $1,100 per door, and we do not average one sample rent across the building.

Rent coverage 100% — yields published from unit rents

Some figures shown on this page are estimated because complete data was not provided in the listing. Estimated values are clearly marked.

Any estimated or modeled figures represent the independent analysis of Jeff Crowe / Century 21 The Avenues and are not supplied by FMLS or the listing broker.

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.