Annual gross collections
$385,271
The portfolio at a glance
Five homes across metro Atlanta.
Select an area or a home marker to open its summary.
The portfolio spans Marietta, Southwest Atlanta, South Atlanta, and Forest Park. Use the area list to explore each submarket.
Pins do not show exact property locations. Each home is in the approximate area shown. To receive exact property addresses and additional photos, provide a signed NDA plus either proof of funds or pre-approval from one of our preferred lenders.
Executive summary
47 rooms with operating history, sold as one package
The Stanton Team at Keller Williams Realty Metro Atlanta is offering five single-family homes, 47 bedrooms total, all operating as PadSplit co-living houses across Marietta, Southwest Atlanta, South Atlanta, and Forest Park. The package price is $1,565,000, which is $33,298 per room.
All five homes have members in place and income history on the platform. A buyer takes over an existing revenue stream with PadSplit's member screening, weekly collections, and management routines already running. The homes are already converted and occupied.
This page is the offering memorandum, with the portfolio details and financials. To receive exact property addresses and additional photos, provide a signed NDA plus either proof of funds or pre-approval from one of our preferred lenders.
Financial summary
Portfolio operating results
September 2025 through August 2026
| Line | Monthly | Annual |
|---|---|---|
| Gross member collections | $32,106 | $385,271 |
| Net income owner payout after PadSplit booking, platform, and transaction fees | $28,172 | $338,062 |
| Operating expenses repairs, utilities, property tax, insurance | -$9,174 | -$110,090 |
| NOI before management | $18,998 | $227,972 |
| Management fee, 8.0% of gross collections | -$2,568 | -$30,822 |
| Net operating income | $16,429 | $197,150 |
¹ Reported operating results for September 2025 through August 2026, reconciled month by month to the PadSplit earnings dashboard. Returns assume an 8% management fee and exclude capital expenditures. Marietta B joined PadSplit in October 2025, so its figures are annualized from its seven stabilized months (February through August 2026, times 12/7) and exclude the ramp-up. Operating expenses exclude $4,900 of seller-documented capital replacements (two water heaters and a grinder pump), which are itemized in the workbook.
By property
| Property | Rooms | Gross collections | Net income | Op. expenses | NOI before mgmt |
|---|---|---|---|---|---|
| Marietta A Marietta, Cobb County | 10 | $96,267 | $82,197 | $24,783 | $57,414 |
| Marietta B Marietta, Cobb County Launched October 2025. Annualized from the last seven stabilized months, February through August 2026. | 8 | $72,060 | $63,754 | $22,308 | $41,447 |
| SW Atlanta Atlanta, Fulton County | 10 | $85,050 | $75,772 | $19,217 | $56,555 |
| South Atlanta Atlanta, Fulton County | 10 | $74,246 | $66,314 | $26,219 | $40,094 |
| Forest Park Forest Park, Clayton County | 9 | $57,649 | $50,024 | $17,563 | $32,461 |
| Portfolio total | 47 | $385,271 | $338,062 | $110,090 | $227,972 |
The management fee is applied once at the portfolio level, on gross collections, so per-property NOI is shown before management. Rows may differ from totals by $1 due to rounding.
The workbook has one tab per property with every month from January 2025 forward: membership dues, fees, PadSplit charges, net payout, repairs, utilities, and capital items.
Pricing, financing, and returns
Model your own management fee and loan
Start with 30% down, 8% management, a 7.0% interest rate, 30-year amortization, and 3% closing costs. Choose fully amortizing or interest-only payments, then adjust the inputs to model your financing.
The linked workbook currently uses 25% down (75% LTV). This page uses 30% down (70% LTV); the operating figures are the same.
Financing assumptions
Payments include principal and interest over the amortization period.
Returns at $1,565,000
Net operating income
Cap rate
Loan amount
Annual debt service
Cash outlay (down payment + closing)
Annual cash flow after debt service
Cash-on-cash return
Debt service coverage ratio
| Management rate | NOI | Cap rate at $1,565,000 |
|---|---|---|
| 0.0% (self-manage) | $227,972 | 14.6% |
| 6.0% | $204,855 | 13.1% |
| 8.0% (memorandum default) | $197,150 | 12.6% |
| 10.0% | $189,445 | 12.1% |
Financing terms are illustrative and exclude reserves, future capital expenditures, and income taxes. Cap rate is NOI divided by the package price. Cash-on-cash is annual cash flow after debt service divided by down payment plus closing costs.
Investment highlights
Why this portfolio
1
$33,298 per room, already operating
Co-living investors in this market typically budget $40,000 or more per room all-in for a conversion. These five homes are already converted, furnished, and occupied.
2
Reported results, reconciled to PadSplit
Every month of income reconciles to the PadSplit dashboard: collections, less PadSplit fees and adjustments, equals the owner payout. No projected occupancy or rent is applied.
3
Occupancy of 95% or higher at four of five homes
Seller-reported from PadSplit platform data: Marietta A runs 95%+, Marietta B 97%, SW Atlanta 97%, and South Atlanta 100%. Forest Park is at 84%.
4
Rent growth on three private-bath rooms
Private-bath rooms at Marietta A, SW Atlanta, and Forest Park rent 15% to 17% below their micro-market benchmarks. The seller estimates that moving them to market at turnover would add about $6,800 a year in gross collections ($130 a week), before fees and expenses. This is not included in the NOI shown.
5
Management flexibility
The quoted 12.6% cap rate includes PadSplit’s fees and third-party management at 8% of gross. Self-managing with PadSplit brings NOI to $227,972 and the cap rate to 14.6% before your own management costs. Full self-management off PadSplit could bring the cap rate to 16–17% or higher, depending on the cost of your management platform and team.
6
Two homes in Marietta
Co-living inventory in Marietta is limited, and room rates and occupancy there are among the highest in the portfolio. New supply is hard to add in that submarket.
7
Rooms priced to hold members
Shared-bath rooms are priced 4% to 9% below zip-code medians. That supports renewals and steady collections instead of relying on top-of-market rents.
8
Debt coverage of about 2.3 times
At the site defaults (30% down, 7.0%, 30 years), NOI of $197,150 covers annual debt service of $87,461 about 2.3 times. Keep in mind that lenders may underwrite using traditional market rents rather than the reported co-living income, which could result in a lower qualifying debt coverage ratio and loan amount. Two lenders are listed in the offer instructions below.
The five homes
Asset summary
Names are submarket labels. This page contains the offering details. To receive exact property addresses and additional photos, provide a signed NDA plus either proof of funds or pre-approval from one of our preferred lenders.
1 of 5 · Marietta / Cobb County
Marietta A
Gross collections
$96,267
T-12 actual
Net income
$82,197
after PadSplit fees
NOI before mgmt
$57,414
$4,785 / mo
Occupancy
95%+
seller-reported
Highest gross revenue in the portfolio, in a high-demand Cobb County micro-market. One private-bath room is priced below market.
2 of 5 · Marietta / Cobb County
Marietta B
Gross collections
$72,060
7 mo, annualized
Net income
$63,754
after PadSplit fees
NOI before mgmt
$41,447
$3,454 / mo
Occupancy
97%
seller-reported
Newest house in the package, on PadSplit since October 2025. It stabilized by February 2026, and the figures use February through August only.
3 of 5 · SW Atlanta / Fulton County
SW Atlanta
Gross collections
$85,050
T-12 actual
Net income
$75,772
after PadSplit fees
NOI before mgmt
$56,555
$4,713 / mo
Occupancy
97%
seller-reported
Lowest expense ratio of the five and the second-highest NOI. Occupancy runs well above the submarket average.
4 of 5 · South Atlanta / Fulton County
South Atlanta
Gross collections
$74,246
T-12 actual
Net income
$66,314
after PadSplit fees
NOI before mgmt
$40,094
$3,341 / mo
Occupancy
100%
seller-reported
Fully occupied, 14 to 17 points above the submarket benchmark. Water heater replaced August 2026.
5 of 5 · Forest Park / Clayton County
Forest Park
Gross collections
$57,649
T-12 actual
Net income
$50,024
after PadSplit fees
NOI before mgmt
$32,461
$2,705 / mo
Occupancy
84%
seller-reported
Conservatively priced rooms, and the most room to improve: occupancy is 84% against 95% or better at the other four, and one private-bath room is below market.
PadSplitTechnology built for room-by-room rentals
PadSplit combines a rental marketplace with tools for collecting payments, tracking performance, and managing daily operations.
Member screening and booking
Identity verification, screening, and online booking.
Simplified payments for members
Electronic payments, autopay, reminders, and collection support help members stay current and support higher collection rates for owners. PadSplit consolidates member payments into a monthly owner payout by direct deposit.
Financial visibility
Earnings and collections reporting by member, property, and portfolio.
Operational tools
Messaging, maintenance requests, move-in coordination, and optional smart-lock integration.
Offer instructions
How to get addresses and additional photos of the properties
Process
- Request the NDA using the form below, or email Josh or Kathleen.
- To receive exact property addresses and additional photos, provide a signed NDA plus either proof of funds or pre-approval from one of our preferred lenders. This page is the offering memorandum.
- Submit the offer, proof of funds, and all exhibits and disclosures as a single PDF to offers@stanton.team.
Earnest money: at least 1% of the sales price, by wire or the Earnnest app, within two business days of the binding date.
Closing attorney: The Fryer Law Firm, Decatur office, 404-240-0007.
Supplied by the listing agent: legal descriptions, lead-based paint exhibits, seller's disclosures.
Key terms
- All-or-none: all five properties close together at the same closing. A default or termination on one applies to all five.
- Due diligence, financing, and appraisal periods run concurrently across all five properties.
- Rent is prorated at closing based on the average monthly deposits over the prior 12 months.
- Utility accounts transfer to the buyer within two business days after closing.
Lenders
Jeffrey Weller, Coast to Coast MortgageNMLS# 376205 · 904-500-5626 · jeff@coast2coastmortgage.com · website
If you email Jeff, text him too.
If you email Jeff, text him too.
Fernando Corona, Remote LenderNMLS# 2479804 · 626-714-2440 · fernando@remotelendr.com · website
Have your broker or attorney review the offer terms on this page before submitting an offer.