255 Spellman St Nw

Atlanta, Georgia, 30314

Redeemable DeedpendingSells Oct 6, 2026 · 4 days ago

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Beds: 3
Baths: 1
SqFt: 0
Lot Size: 8,364
APN: 14 017400050113

Property Type: Land
Distressed: No
Vacant: No
Owner Type: Company
Owner Status: Absentee (In State)
Length of Ownership: 2 Years 1 Month
Purchase Method: Cash Purchase
County: Fulton

Value

Estimated Value: $132,000
County Market Value: $68,600
Assessed Value: $27,440; 2026

Mortgage & Debt

Open Mortgages: 0
Estimated Balance: $0
Lien Flags: None recorded; RealEstateAPI flags · not a lien search

Last Sale

Document Type: Quit Claim Deed

Opportunity

Equity (est.): $132,000; 100%
Monthly Rent: $1,890; HUD fair market rent (3 bd)
Gross Yield: 17.18%

Opening bid

—

Assessed value

$27,440

Land $27,440Improvement $0

Market / AVM

$132,000

Taxes owed

—

Property facts enriched via realestateapi · 9/29/2026

Ownership Information

Owner 1 Name: 2 Wings Llc
Mailing Address: 1691 Phoenix Blvd Ste 390, Atlanta, GA 30349
Owner Type: Company
Corporate Owned: Yes

Property Characteristics

Bedrooms: 3
Total Bathrooms: 1

Land/Location Information

Deal analysis

Recorded	Document	Notice	Auction Date	Lender	Active
12/23/2019	Notice of Foreclosure Sale	FOR	01/07/2020	ALTERNATIVE BUSINESS CAPITAL LLC	No

School	Type	Grades	Rating	Enrollment
Grove Park Elementary School	Public	3-5	0	275
Bazoline E. Usher/Collier Heights Elmentary School	Public	PK-5	3	440
Harper-Archer Middle School	Public	6-8	1	486
Douglass High School	Public	9-12	2	929

Recorded	Amount	Lender	Rate Type	Term	Maturity	Open
09/15/2006	$7,000	Visionquest Investments	Fixed Rate	0	06/20/2007	No

Sale Date	Recorded	Amount	Document	Doc #	Arm's Length	Method	Buyer	Seller
08/27/2024	08/28/2024		Quit Claim Deed	20240218426	No	Cash Purchase	2 Wings Llc	Atjp Management Llc
07/18/2023	07/18/2023	$25,000	Public Action	2023 0184498	Yes	Cash Purchase	Atjp Management Llc	2 Wings Llc
03/30/2006	04/05/2006	$100,000	Deed		Yes	Financed	Fidelia Echezona	Gavin Cisson
03/09/2006	04/05/2006	$75,000	Deed		Yes	Financed	Gavin Cisson	Jpmorgan Chase Bank
09/06/2005	10/19/2005	$125,800	Foreclosure		Yes	Cash Purchase	Jp Morgan Chase Bk	Maria Vallejos
03/15/2004	03/31/2004	$150,000	Deed		Yes	Financed	Vallejos, Maria	Smith, Kecia W
09/24/2001	10/18/2001	$100,000	Deed		Yes	Financed	Smith, Kecia W	Smith, Stephanie
12/07/2000	12/15/2000	$38,000	Deed		Yes	Financed	Smith, Stephanie	Coles, Mamie R D

Your maximum bid

$74,656

Walk away above this. Projected profit at the ceiling: $39,600 (30% of ARV).

Confidence: medium — ARV from a provider market estimate, not comps.

History-guided suggestion

$67,190

Under max by $7,466

≤ oracle maxBid

Co-pilot target using recorded auction history. Never above your maximum bid.

History sample

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Median sold

—

p(redeem) prior

—

No historical bucket for GA|Redeemable Deed; suggestion uses oracle only.

Your assumptions

After-repair value (ARV)

Override the derived estimate with real comps

Rehab budget

You cannot inspect before bidding — budget for the worst plausible condition

Known surviving liens

Municipal code enforcement, special assessments, federal tax liens

Target margin — 30%

Required profit as a share of ARV. 30% is a common floor for tax-sale flips.

How that number is built

Provider market estimate of $132,000. This is an as-is valuation, not an after-repair one — enter your own comparable-sales figure if the property needs work.

After-repair value: $132,000
Selling costs on exitassumed 8.0% of ARV — agent commission plus seller-side closing.: −$10,560
Rehabassumed No rehab budget entered — assumed $0. Tax-sale parcels are sold unseen and un-inspected; this is rarely correct.: −$0
Quiet title (required)assumed Midpoint of the typical GA range ($3,000–$7,500, ~6 months).: −$5,250
Deed recording and transferassumed Typical GA recording and deed issuance cost.: −$350
Holding costs (8 months)assumed Taxes, insurance, and securing the property at ~$198/month.: −$1,584
Surviving liensassumed Assumed $0 — not verified. Municipal code-enforcement liens, special assessments, and federal tax liens can survive the sale.: −$0
Target profit (30% of ARV): −$39,600
Maximum bid: $74,656

If the owner redeems

Flat penalty

20%

You'd receive

$14,931

Window

365 days

A 20% flat penalty applies if the owner redeems. It is a penalty, not annual interest — the rate does not change with how early they redeem.

redemption stays open indefinitely until the purchaser forecloses it by statutory notice (barment)

Quoted elsewhere as 20% annualised — true only if they redeem on the last possible day and you immediately redeploy the capital. Treat the flat penalty as the real number.

Before you bid

Rehab is assumed to be $0. You cannot inspect these properties before bidding — budget for the worst plausible condition.
Surviving liens assumed $0. The 12-month period is a minimum, not an expiry — the redemption right persists until you serve barment notice, so budget for that process.

255 Spellman St Nw

Value

Mortgage & Debt

Last Sale

Opportunity

Ownership Information

Property Characteristics

Land/Location Information

255 Spellman St Nw

Value

Mortgage & Debt

Last Sale

Opportunity

Ownership Information

Property Characteristics

Land/Location Information

Legal Description

Tax Assessment Information

Last Non-Arm's Length Ownership Transfer

Recording Information

Buyer/Seller Information

Last Arm's Length Sale Information

Recording Information

Buyer/Seller Information

Distress Flags

Foreclosure Filings

Listing

Area

Fair Market Rents

Schools

Tax Assessment Information

Mortgage History

Sale History

County records

Fulton County rules

Historical comps

Verify before you bid