Set on 1.75 acres in the heart of Atlanta, this renovated home offers a rare opportunity to own your own urban oasis with the flexibility to live, host, and generate income all in one place. With cash flow becoming harder to find, this property offers a unique opportunity. Enjoy it as a private residence with incredible outdoor space, purchase it as a fully operating hostel business that has averaged approximately $150,000 per year in revenue over the past three years (see agent for details), or use it as the ultimate house hack. The true highlight of this property is the land and outdoor experience, with features throughout the designed for gathering, entertaining, and flexible use. The grounds have been improved with over $15,000 in plantings, mature pecan and black walnut trees, and expansive cleared space ideal for gardening or simply enjoying the outdoors. A looping gravel drive with two access points on Penelope Rd, a secured gated entrance, and a gravel parking lot for 6+ vehicles or RVs provide both functionality and flexibility. The outdoor setup includes an outdoor shower, fire pit lounge area, elevated mulched terrace, pavilion-style seating and grilling area, multiple storage structures, a striking mural-covered shipping container, and additional structures including a yurt and glamping-style accommodations. The home was renovated in 2020 and features bright, updated interiors, including hardwood floors throughout, tiled bathrooms, and a renovated kitchen with white cabinetry and granite countertops. The layout offers flexibility for a variety of living arrangements, including a primary suite on the main level. An unfinished basement with interior and exterior entry, newer major systems including roof, HVAC, and water heater (all approximately 5 years old), and a detached two-car garage add functionality and long-term value. The property also offers ample space to add an ADU or convert the detached two-car garage into an ADU, creating an additional income stream. There may also be potential to subdivide the property into multiple parcels; Buyer should confirm feasibility with the appropriate authorities. A truly unique opportunity to own a property with rare acreage, character, and income potential in the heart of Atlanta.
Closed
$475,000
1860 Penelope Rd NW, Atlanta, GA 30314
3beds
1,688sqft
Single Family Residence
Built in 1949
1.75 Acres Lot
$475,300 Zestimate®
$281/sqft
$2,181 Estimated rent
Home value
$475,300
$447,000 - $504,000
$2,181/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Grant Waugh grant@livedownhome.com,
Down Home Properties
Bought with:
Lindsey Gravitt, 308419
LOCAL Realty
Source: GAMLS,MLS#: 10712961
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 1
Dining room
- Features: Separate Room
Kitchen
- Features: Solid Surface Counters
Heating
- Central
Cooling
- Ceiling Fan(s), Central Air
Appliances
- Included: Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer
- Laundry: In Basement
Features
- In-Law Floorplan, Master On Main Level, Roommate Plan, Tile Bath, Walk-In Closet(s)
- Flooring: Hardwood
- Windows: Double Pane Windows
- Basement: Exterior Entry,Interior Entry,Partial,Unfinished
- Number of fireplaces: 1
- Fireplace features: Living Room
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 1,688
- Total interior livable area: 1,688 sqft
- Finished area above ground: 1,688
- Finished area below ground: 0
Property
Parking
- Total spaces: 8
- Parking features: Detached, Garage, Over 1 Space per Unit, RV/Boat Parking, Storage
- Has garage: Yes
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck, Patio, Porch
- Exterior features: Garden
- Has view: Yes
- View description: City, Valley
- Waterfront features: No Dock Or Boathouse
- Body of water: None
Lot
- Size: 1.75 Acres
- Features: City Lot, Level, Open Lot, Pasture, Private
- Residential vegetation: Cleared, Grassed, Partially Wooded, Wooded
Details
- Additional structures: Garage(s), Outbuilding, Second Garage, Shed(s), Workshop
- Parcel number: 14 017300090243
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Cape Cod,Traditional
- Property subtype: Single Family Residence
Materials
- Brick, Stone
- Foundation: Block
- Roof: Other
Condition
- Resale
- New construction: No
- Year built: 1949
Utilities & green energy
- Electric: 220 Volts
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available, Electricity Available, High Speed Internet, Natural Gas Available, Phone Available, Sewer Available, Sewer Connected, Water Available
Green energy
- Energy efficient items: Appliances, Insulation, Thermostat, Water Heater
- Water conservation: Low-Flow Fixtures
Community & neighborhood
Security
- Security features: Gated Community, Security System, Smoke Detector(s)
Community
- Community features: Boat/Camper/Van Prkg, Near Public Transport
Location
- Region: Atlanta
- Subdivision: Penelope Neighbors
HOA & financial
HOA
- Has HOA: No
- Services included: None
Other
Other facts
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional,Owner Will Carry,Owner 2nd,Private Financing Available
Price history
| Date | Event | Price |
|---|---|---|
| 5/20/2026 | Sold | $475,000$281/sqft |
Source:  GAMLS #10712961 Report a problem | ||
| 5/19/2026 | Pending sale | $475,000-32%$281/sqft |
Source:  FMLS GA #7737276 Report a problem | ||
| 3/19/2026 | Price change | $699,000-0.1%$414/sqft |
Source: GAMLS #10713139 Report a problem | ||
| 3/19/2026 | Price change | $699,999+47.4%$415/sqft |
Source: FMLS GA #7737473 Report a problem | ||
| 3/19/2026 | Listed for sale | $475,000+79.2%$281/sqft |
Source: GAMLS #10712961 Report a problem | ||
| 8/6/2020 | Sold | $265,000-3.6%$157/sqft |
Source:  GAMLS #8742242 Report a problem | ||
| 6/5/2020 | Pending sale | $275,000$163/sqft |
Source: PalmerHouse Properties #8742242 Report a problem | ||
| 5/21/2020 | Price change | $275,000-8.3%$163/sqft |
Source: PalmerHouse Properties #8742242 Report a problem | ||
| 3/18/2020 | Price change | $299,900-9.1%$178/sqft |
Source: PalmerHouse Properties #8742242 Report a problem | ||
| 3/10/2020 | Price change | $329,900-5.7%$195/sqft |
Source: PalmerHouse Properties #8742242 Report a problem | ||
| 2/26/2020 | Listed for sale | $349,900+386%$207/sqft |
Source: PalmerHouse Properties #8742242 Report a problem | ||
| 11/20/2018 | Sold | $72,000$43/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $4,927 +47.8% | $173,160 |
| 2023 | $3,333 -40.1% | $173,160 +26% |
| 2022 | $5,564 +29.6% | $137,480 +29.7% |
| 2021 | $4,294 +100.1% | $106,000 +104.5% |
| 2020 | $2,146 +60.2% | $51,840 +24.9% |
| 2019 | $1,340 | $41,520 +110.5% |
| 2018 | $1,340 | $19,720 +42.9% |
| 2017 | $1,340 +19.7% | $13,800 |
| 2016 | $1,119 +187.8% | $13,800 |
| 2015 | $389 +2248.1% | $13,800 |
| 2014 | $17 | $13,800 +11.7% |
| 2013 | -- | $12,360 -1.9% |
| 2012 | -- | $12,600 -23.7% |
| 2011 | -- | $16,520 -65.6% |
| 2010 | $257 | $48,040 -5.6% |
| 2009 | -- | $50,880 -17.3% |
| 2008 | -- | $61,560 -0.1% |
| 2007 | -- | $61,600 +26.6% |
| 2005 | -- | $48,640 +2.7% |
| 2004 | $151 -2.5% | $47,360 +3% |
| 2003 | $155 | $46,000 +7.4% |
| 2002 | -- | $42,840 +18.5% |
| 2001 | $442 | $36,160 |
Find assessor info on the county website
Neighborhood: Penelope Neighbors
Nearby schools
GreatSchools rating
- 4/10Woodson Park AcademyGrades: PK-8Distance: 1.4 mi
- 2/10Douglass High SchoolGrades: 9-12Distance: 1.3 mi
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Estimated market value
$475,300
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Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$475,300
- Georgia
- Fulton County
- Atlanta
- 30314
- Penelope Neighbors
- 1860 Penelope Rd NW