Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Copied
Photo
Copied
Photo
Photo
Photo
Photo
See all photos

$189,500

For Sale - Active
702 Argonne Ave NE Apt 1, Atlanta, GA 30308
1 Bed
1 Bath
646 Square Feet
0.00 Acres Lot
Built in 1965
For Sale - Active
1 Units
Checked: 3 hours ago
Updated: Sep 19, 2025 at 10:22AM

Investment Summary


Monthly Cash Flow
-$211
Cap Rate
4.8%
Cash-on-Cash Return
-5.8%
Debt Coverage Ratio
0.78
Internal Rate of Return (5 years)
-1.6%

Property Description


0.00 Acres Lot
Built in 1965
For Sale - Active
1 Units

This is a great "FIND" in a Midtown Garden District condo unit. It's the size of the typical 2-Bedroom above it, but with a 1-Bedroom monthly condo fee ($200.02 per month). Live in it as a 2-Bedroom, or 1-Bedroom Den, Office, Guest Room, etc. Good bones in that Kitchen and Bath were already renovated well after the 1999 conversion from apts to condos. Priced to reflect the need for TLC in paint and floors. The 2nd Room was previously made into a walk-in closet/dressing room. Leave it or use it as you wish. Private 1st Floor Entrance and side Kitchen Door. New Stove. Recent HVAC system and Hot Water Heater. Excellent Melrose Park complex location in tree-lined neighborhood. Lots of windows for generous natural light. A gem of a community only blocks from Piedmont Park (7 blocks), GA Tech (1.2 miles), GA State (1.7 miles), Emory University (3.9 miles), The Beltline (0.9 miles), Ponce City Market (5 blocks), The Fabulous Fox Theatre (5 blocks), North Avenue MARTA (6 blocks), Grocery, Pubs, Restaurants, and More! It's all happening in Midtown Atlanta.

Build Your Team


Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.

Avatar
Avatar
Avatar

Agents

Match with investor-friendly agents who can help you find, analyze, and close your next deal

Find an Agent
Avatar
Avatar
Avatar

Lenders

Get the best funding…find investor-friendly lenders who specialize in your deal strategy

Find a Lender
Avatar
Avatar
Avatar

Property Managers

Transition to passive investing. Find a trusted property management partnership that lasts.

Find a Property Manager
Avatar
Avatar
Avatar

Tax Pros & Accountants

Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more

Find a Tax Pro

Location


Property Details


Parking

  • Details: None
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 0
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 3
  • # of Stories: 1
  • Basement Description: None

Exterior Features

  • Exterior Walls Materials: Rock, Stone
  • Foundation: Slab
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • HOA Fee: $2,400/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 14004800051487
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Brick 4 Side, Traditional
  • Year Built: 1965

Tax Information

  • Annual Tax: $66

Utilities

  • Water & Sewer: Public
  • Heating: Forced Air, Natural Gas
  • Cooling: Ceiling Fan(s), Central Air, Electric

Location

  • County: Fulton

Listing Details


Listed by:
Stephen C. Defibaugh
Keller Williams Realty First Atlanta
(404) 531-5700

Source:
Georgia MLS
MLS#: 10578367
Georgia MLS

Investment Summary


Monthly Cash Flow
-$211
Cap Rate
4.8%
Cash-on-Cash Return
-5.8%
Debt Coverage Ratio
0.78
Internal Rate of Return (5 years)
-1.6%

Purchase Details

Find an Agent

Purchase price:
$189,500
Amount financed:
-$151,600
Down payment:
$37,900
Closing costs:
$5,685
Rehab costs:
$0
Initial cash invested:
$43,585
Square feet:
646
Cost per square foot:
$293
Monthly rent per square foot:
$2.17

Financing Details

Find a Lender

Loan amount:
$151,600
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$971
Property tax:
$6
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,075

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (0%)
0%-$6-$66
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (14%)
14%-$200-$2,400
Total operating expenses: (40%)
40%-$556-$6,666

Cash Flow


Monthly Yearly
Net operating income:
$760 $9,120
Mortgage payments:
-$971 -$11,652
Cash flow:
-$211 -$2,532