The Best Value Properties in Sandy Springs, GA
• • ☕️ 4 min read • By Noah Blumberg •
Just north of Atlanta, Sandy Springs, Georgia is a city that frequently gets mentioned alongside Atlanta as a great place to buy an investment property and a great place to live. Sandy Springs is a city of 111,270 which has a familiar real estate story over the last year —low inventory, rapid rise in prices, multiple offers, and properties on the market for relatively few days. The most striking fact is an average of 59 days on the market last February down to only 14 days in February 2022. That's an almost 80% reduction.
With so much demand for real estate properties, it's clearly a seller's market. The most direct driver of demand is population growth and the Atlanta area is forecasted to have strong growth well into the future. Atlanta and its surrounding counties are expected to grow by almost 3 million people and 1.2 million jobs by 2050. This probability is not lost on city planners as the Atlanta area has a range of infrastructure improvements and expansions planned. The cycle of jobs bringing people and people bringing jobs appears to be coming full circle as the Atlanta area has a large number of construction jobs and construction projects in the works.
The bright outlook for the Atlanta area makes for an interesting investment target. Along with increased demand for purchasing homes comes increased demand for rentals. With price-to-rent ratios in the 13 to 20 range, conditions are exceptional for buying with an eye to rent. Essentially, rents are relatively high and prices, though they'vee been rising, are relatively low.
The Properties
It's rare for us to see such a disparity in zip codes within a single city like we see with Sandy Springs. For instance, 30327 presents a 2.8x value compared with a 1.0x for 30349. This pushes some of very high end properties right to the top of list due to their location. Despite their high prices, the location of these properties still delivers more value.
Property #1 and property #2 have similar profiles —very large homes in the most desirable zip code listed for well over a million dollars. They ask over the median, but they offer a lot in bedroom count and square footage, as well as location.
Property #3 is perhaps the most intriguing, however. With some stellar cap rate and cash-on-cash estimates, it looks like a great investment opportunity. For less than 25% of the median priced property on this list, you get a large move-in-ready condo. It has a more approachable price point for many people, and it's also in one of the better zip codes. Property #6 is a similar property in a higher rated zip code, but with slightly less favorable, though still great, cap rate and cash-on-cash return estimates.
Reading Resources
- Redfin: Sandy Springs Housing Market Data
- Rocket Homes: Sandy Springs Real Estate Trends
- Business Insider: 10 US cities paving the way for the future by investing in technology, sustainability, and infrastructure
- forconstructionpros.com: New Analysis Highlights the Top U.S. Cities for Construction Work
- Atlanta Regional Commision: Metro Atlanta Population Growth
- Stessa: The Best U.S. Cities to Invest in a Rental Property
- 21 Best Places to Buy Rental Property in 2022 for Cash Flow & Appreciation
- Think Advisor: 15 Best U.S. Cities to Invest in Real Estate: 2022
- RoofStock: The 30 best places to consider buying rental property in 2022
- Financial Samurai: The 20 Best Cities To Own Investment Property In America
| Median List Price | Median Sqft | Median HOA Fee |
|---|---|---|
| $895,000 | 3,608 | $263 |
| Score** | Property | ZipX** | Type | Cap Rate* | SqFt | Cash-On-Cash Return* | Price |
|---|---|---|---|---|---|---|---|
| 48.69 | 700 S Brighton Ct NW | 2.80 | single family | 3.83 | 7100 | -5.06 | $1,100,000 |
| 41.83 | 5645 Whitner Dr | 2.80 | single family | 3.89 | 9603 | -4.75 | $1,899,999 |
| 32.93 | 725 Dalrymple Rd Unit 4 | 1.63 | condo | 8.47 | 2325 | 16.94 | $222,900 |
| 27.94 | 360 Kelson Dr | 2.80 | single family | 2.61 | 5580 | -11.16 | $1,450,000 |
| 27.50 | 785 Riley Pl | 2.80 | single family | 3.55 | 12154 | -6.45 | $2,799,900 |
| 25.24 | 5556 Kingsport Dr | 1.85 | condo | 7.13 | 1284 | 10.23 | $209,900 |
| 24.52 | 4795 Woodvale Dr NW | 2.80 | single family | N/A | 4200 | N/A | $1,075,000 |
| 24.25 | 7725 Wickley Way | 1.57 | single family | 3.39 | 5416 | -7.23 | $799,999 |
| 22.60 | 7525 S Spalding Lake Dr | 1.57 | single family | 3.46 | 5110 | -6.93 | $825,000 |
| 22.35 | 630 Glenairy Dr | 1.63 | single family | 3.19 | 6263 | -8.27 | $1,250,000 |
| 21.89 | 1455 N Riverside Cir | 1.63 | single family | 4.26 | 5155 | -2.9 | $989,000 |
| 21.38 | 8950 Ridgemont Dr | 1.57 | single family | 2.42 | 4250 | -12.11 | $785,000 |
| 21.22 | 1510 Misty Oaks Dr | 1.57 | single family | 2.99 | 6105 | -9.24 | $1,050,000 |
| 20.86 | 417 Oakmont Pl | 2.80 | single family | N/A | 5300 | N/A | $1,950,000 |
| 20.49 | 320 Benita Trce | 1.63 | single family | 3.87 | 4274 | -4.85 | $750,000 |
| 19.86 | 639 Mount Paran Rd | 2.80 | single family | 4.31 | 5508 | -2.65 | $1,599,999 |
| 19.73 | 310 W Berwicke Cmn | 1.85 | single family | 3.57 | 5167 | -6.38 | $1,095,000 |
| 19.30 | 5995 Riverside Dr | 1.63 | single family | 2.54 | 7400 | -11.53 | $1,800,000 |
| 19.26 | 305 Cannady Ct | 1.57 | single family | 3.18 | 3871 | -8.3 | $799,900 |
| 19.04 | 5550 Cross Gate Ct | 2.80 | single family | 2.38 | 4190 | -12.29 | $1,450,000 |
| 18.89 | 260 Rivermere Way | 1.57 | single family | 2.25 | 8518 | -12.98 | $2,100,000 |
| 18.81 | 6520 Roswell Rd NE Unit 68 | 1.63 | condo | N/A | 1392 | N/A | $223,000 |
| 18.61 | 6900 Roswell Rd NE Unit D5 | 1.63 | condo | 5.11 | 1434 | 0.1 | $245,000 |
| 18.48 | 635 Londonberry Rd NW | 2.80 | single family | 3.81 | 2899 | -5.14 | $889,000 |
| 18.47 | 5850 Kayron Dr | 1.63 | single family | 0.28 | 6800 | -22.82 | $1,875,000 |