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, Residential
Built in 1949
1.75 Acres Lot
$465,400 Zestimate®
$281/sqft
$2,873 Estimated rent
Home value
$465,400
$442,000 - $489,000
$2,873/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Grant Waugh,
Down Home Properties 770-209-3919
Bought with:
LINDSEY GRAVITT, 308419
Local Realty
Source: FMLS GA,MLS#: 7737276
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 1
Rooms
- Room types: Basement, Living Room, Office, Workshop
Primary bedroom
- Features: Master on Main
- Level: Master on Main
Bedroom
- Features: Master on Main
Primary bathroom
- Features: Tub/Shower Combo
Dining room
- Features: Open Concept, Separate Dining Room
Kitchen
- Features: Cabinets White, Stone Counters
Heating
- Central
Cooling
- Ceiling Fan(s), Central Air
Appliances
- Included: Dishwasher, Disposal, Dryer, ENERGY STAR Qualified Appliances, Gas Cooktop, Gas Range, Microwave, Refrigerator, Washer
- Laundry: In Basement
Features
- High Speed Internet, Recessed Lighting, Smart Home
- Flooring: Hardwood, Wood
- Windows: Insulated Windows
- Basement: Exterior Entry,Interior Entry,Partial,Unfinished,Walk-Out Access
- 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
Property
Parking
- Total spaces: 6
- Parking features: Detached, Driveway, Garage, Level Driveway, RV Access/Parking, See Remarks
- Garage spaces: 2
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Stories: 2
- Patio & porch: Covered, Deck, Patio
- Exterior features: Garden, Private Yard, Rain Gutters, Storage, No Dock
- Pool features: None
- Spa features: None
- Fencing: None
- Has view: Yes
- View description: Neighborhood, Rural, Trees/Woods
- Waterfront features: None
- Body of water: None
Lot
- Size: 1.75 Acres
- Features: Back Yard, Cleared, Farm, Front Yard, Level, Private
Details
- Additional structures: Garage(s), Outbuilding, Shed(s), Workshop
- Parcel number: 14 017300090243
- Other equipment: None
- Horse amenities: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Cape Cod,Traditional
- Property subtype: Single Family Residence, Residential
Materials
- Brick, Stone
- Foundation: Block
- Roof: Shingle
Condition
- Resale
- New construction: No
- Year built: 1949
Utilities & green energy
- Electric: 110 Volts, 220 Volts
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
Green energy
- Energy efficient items: Appliances, HVAC, Insulation, Lighting, Thermostat, Water Heater
- Energy generation: None
- Water conservation: Low-Flow Fixtures
Community & HOA
Community
- Features: None
- Security: Secured Garage/Parking, Security Gate, Security Lights, Security System Owned, Smoke Detector(s)
- Subdivision: Penelope Neighbors
HOA
- Has HOA: No
Location
- Region: Atlanta
Financial & listing details
- Price per square foot: $281/sqft
- Tax assessed value: $528,300
- Annual tax amount: $4,934
- Date on market: 3/19/2026
- Cumulative days on market: 18 days
- Electric utility on property: Yes
- Road surface type: Asphalt, Gravel, Paved
Price history
| Date | Event | Price |
|---|---|---|
| 5/20/2026 | Sold | $475,000$281/sqft |
Source:  FMLS GA #7737276 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 |
|---|---|---|
| 2025 | $5,756 +16.8% | $211,320 +22% |
| 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
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Nearby schools
GreatSchools rating
- 4/10Woodson Park AcademyGrades: PK-8Distance: 1.5 mi
- 2/10Douglass High SchoolGrades: 9-12Distance: 1.3 mi
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Estimated market value
$465,400
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Estimated market value
$465,400
- Georgia
- Fulton County
- Atlanta
- 30314
- Penelope Neighbors
- 1860 Penelope Rd NW
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