1070 Mayson Turner Rd NW

Property Overview

Purpose-Built for Co-Living Since 2007

Not a conversion. This house was built for shared housing from day one: two full kitchens, two separate entrances, two laundry areas, and an en-suite bath on each floor. It runs like two independent 5-bedroom units under one roof.

10 bedrooms, 4 bathrooms including 2 en-suites
Duplex-like layout: 5 BR / 2 BA on each floor, 1 en-suite per floor
Two full kitchens, two separate entrances
Two laundry areas, one on each floor
Most rooms furnished with TVs
Exterior and interior common area camera security system, included in the sale
Double lot, which matters for future exit strategies as the Beltline develops (view the survey)
Ample on-street and off-street parking, though with Ashby MARTA station and the Beltline steps away, most members don't need a car
Massive bedrooms and a wide upstairs hallway with room to add multiple additional bathrooms
High occupancy: 92% true occupancy over the trailing 12 months

Wide central hallway with hardwood floors

Significant Value-Add Play

The rooms are huge, and the upstairs hallway is wide to the point of wasted space. There's room to add multiple en-suite bathrooms and still have space to spare. Each additional bathroom adds roughly $5,000 in annual revenue with minimal impact on utilities and opex.

Bring room rates to market and add a few en-suites, and gross income moves well above $100K annually.

A well-run operation, not a project. This home has been operated by one of Atlanta's most experienced co-living hosts. The past two years went into catching up every piece of deferred maintenance and installing new management. It's stabilized, running at high occupancy, and carries a 4.7-star member rating that is nearly unheard of on the platform.

New to PadSplit?

How Co-Living Investing Works

PadSplit is a co-living platform that matches property owners with working members who rent furnished rooms by the week. Owners earn 2-3x the revenue of traditional rentals. Here's the quick version.

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The Roommate Model

The whole house is master leased to one LLC, and each individual bedroom is occupied by a PadSplit member. You deal with one tenant, PadSplit, and get one direct deposit per month instead of chasing down 10 people for payment. The PadSplit platform does that work for you.

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2-3x Traditional Rents

A house that rents for $2,000/month as a single-family rental can generate $6,000-$8,000+ per month as a PadSplit. This property runs at $88.5K in stabilized annual gross income at below-market room rents.

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Platform-Managed

PadSplit screens members, collects payments, and provides the member communication platform, so requests come through one chat app instead of your phone. You (or your property manager) handle maintenance and member communication through that platform. Earnings arrive by direct deposit each month, based on last month's performance.

Investment Highlights

Why This Property

Location

Steps from the Beltline's Westside Trail

The Westside Trail, connected here in June 2025, runs steps from this property and continues in both directions, with the full 22-mile loop on track for 2030. Ashby MARTA is a few blocks away, the Atlanta University Center is adjacent, and the property sits on a double lot (survey).

Income

$88.5K a year at high occupancy

That's the gross income the house is running at right now, with 92% true occupancy over the trailing twelve months and a 4.7-star member rating. Deferred maintenance is caught up and new management is in place. Rents are still below the zip average.

Value Add Potential

3 more en-suites takes gross past $117K

The oversized bedrooms and extra-wide upstairs hallway fit 3 more en-suite bathrooms, drawn out room by room in the linked conversion plan. Roughly $7,500 per bath, each adding about $5,000 in annual revenue with barely any added operating cost.

Equity and Appreciation

$25K below the 2026 appraisal

The appraisal came in at $500,000 and the price is $475,000, so you start with $25,000 in equity. The full appraisal is available for review during diligence. Longer term, the Beltline's own data shows homes near the trail appreciating by nearly $50,000 per year on average.

Property Photos

Inside & Out

Professional photos from a recent shoot. Click any photo to view full-size.

Full-Res Photos, Video & Floorplans →

Floorplans

Two Independent Units Under One Roof

5 bedrooms and 2 baths on each floor, each with its own kitchen, laundry, and entrance. The third plan shows the future-state conversion: adding 3 en-suite bathrooms using the oversized rooms and hallway space.

Financials

The Numbers, Today and at Market Rents

Stabilized actuals from the trailing three months, side by side with the same operation at market rents for the 30314 zip code. The PadSplit platform take runs about 11% of gross (the 8% fee plus the first 10 days of each move-in). The full model is an open spreadsheet: check the math, change the assumptions, run your own numbers.

$88,567

Stabilized Gross

Annualized, at today's below-market rents

$39,819

NOI Today

Stabilized actuals

11.0%

Cap at Market Rents

8.4% at today's rents

24.3%

Cash-on-Cash (I/O)

At market rents with 20% down, 13.0% today

Today's Stabilized Operation

Actuals

Room Rents (Below Market)

8 rooms w/ shared bath$163.50/wk

2 rooms w/ private bath$238.50/wk

Revenue (Trailing 3-Month Actuals)

Gross Income$7,381/mo

PadSplit Take (8% + move-in fees, ~11%)($794)

Host Earnings$6,587/mo

Expenses

Operating Expenses (taxes, insurance, mgmt, maintenance, utilities)($3,268)/mo

Returns

NOI$39,819/yr

Debt Service (I/O, 80% LTV @ 6.75%)($25,650)/yr

Annual Cash Flow$14,169/yr

Performance

Cash Outlay (20% down)$109,250

Cap Rate8.4%

Cash-on-Cash (I/O)13.0%

Same Operation at Market Rents

Upside

Room Rents (30314 Zip Averages)

8 rooms w/ shared bath$191/wk

2 rooms w/ private bath$281/wk

Revenue (Same Occupancy as Actuals)

Gross Income$8,642/mo

PadSplit Take (8% + move-in fees, ~11%)($930)

Host Earnings$7,712/mo

Expenses

Operating Expenses (mgmt scales with revenue)($3,358)/mo

Returns

NOI$52,245/yr

Debt Service (I/O, 80% LTV @ 6.75%)($25,650)/yr

Annual Cash Flow$26,595/yr

Performance

Cash Outlay (20% down)$109,250

Cap Rate11.0%

Cash-on-Cash (I/O)24.3%

Then add the 3 en-suites:

+$13,397

Annual Gross Income

$103.7K → $117.1K

+$10,998

Annual Cash Flow

$26.6K → $37.6K

+2.3%

Cap Rate Increase

11.0% → 13.3%

+4.2%

CoC Return Increase

24.3% → 28.5%

Key Assumptions

Purchase Price $475,000
LTV / Interest Rate 80% / 6.75% I/O
Closing Costs 3% of price (financed deal)
Platform Take ~11% (8% fee + first 10-day move-in fees)
En-Suite Reno Cost $22,500 ($7,500 ea.)
Market Rents 30314 zip avg per PadSplit ($191 / $281 per wk)
Occupancy & Expenses Per trailing 3-month stabilized actuals

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Full Financial Model

Actual T-12 cash flow plus both pro forma scenarios, in an open Google Sheet. Copy it and run your own numbers.

Open the Spreadsheet →

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Photos, Video & Floorplans

Full-resolution photo set, recent video walkthrough, and measured floorplans for both levels.

Open the Drive Folder →

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+3 En-Suite Conversion Plan

The future-state plan showing where 3 additional en-suite bathrooms fit. It's the value-add path to $117K+ gross.

View the Plan →

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Double-Lot Survey

The surveyed boundaries of both lots. This is the document behind the Beltline exit strategies.

View the Survey →

Appraisal available on request. Use the offer form or the contact info below.

Run Your Own Numbers

Deal Calculator

Set your room rents, financing, and the en-suite conversion, and watch the returns move. Presets load today's rents, market rents for the zip, and the value-add scenario.

Shared-Bath Room Rent $191/wk

Today: $163.50 · 30314 market average: $191

En-Suite Room Rent $281/wk

Today: $238.50 · 30314 market average: $281

En-Suite Rooms (of 10 total)

Down Payment 20%

Interest Rate 6.75%

Loan Type

Cash-on-Cash

Annual Cash Flow

Gross Annual Income

Net Operating Income

Annual Debt Service

Cap Rate (on purchase price)

Cash Required

Estimates at the $475,000 purchase price. Occupancy and operating expenses follow the trailing 3-month stabilized actuals; the PadSplit platform take is modeled at ~11% of gross (8% fee plus the first 10 days of each move-in); closing costs estimated at 3% for a financed deal. Figures may differ slightly from the full financial model. Check the spreadsheet for exact underwriting.

Location

Steps from the Atlanta Beltline

The Beltline's Westside Trail Segment 4 completed in June 2025, creating the longest continuous trail stretch on the entire Beltline at 6.7 miles. The trail runs steps from this property and continues in both directions. That's not a soft proximity claim.

The full 22-mile loop is on track for completion by 2030. The Beltline is operating on its largest-ever annual budget of $172 million, with active construction on multiple Northwest Trail segments right now.

What does Beltline proximity actually do to values? According to the Beltline's own data, homeowners near the trail have seen values appreciate by nearly $50,000 per year on average, with some seeing gains over $200,000.

For a preview of where this goes, look east. After the Eastside Trail opened in 2012, Old Fourth Ward and Inman Park went from overlooked to some of the most expensive intown neighborhoods in Atlanta, anchored by Ponce City Market and Krog Street Market. The Westside's connection here was only completed in June 2025. On this side of town, that story is just getting started.

And this is a double lot (view the survey). That creates multiple exit strategies as Beltline development continues to accelerate on the West Side: hold and cash flow, add suites, or eventually redevelop.

Parking & Getting Around

Members Can Park Here. Most Don't Need To.

Co-living tenants rely on transit more than almost any other renter group, and this location delivers: a bus stop 0.1 miles away on Joseph E. Boone Blvd, a major arterial road, the Ashby MARTA rail station a few blocks out, and the Beltline's Westside Trail steps from the front door. Adjacent to the Atlanta University Center (Morehouse, Spelman, Clark Atlanta University).

For members who do drive, the property has a dedicated off-street parking area plus a driveway, and on-street parking is ample. Between the private lot and the transit options, parking is never the constraint on filling rooms.

Side exterior showing dedicated off-street parking area

Private Lot

Off-Street Parking + Driveway

0.1 mi

Bus Stop (Joseph E Boone)

Blocks

Ashby MARTA Rail Station

Steps

Beltline Westside Trail

Ample

On-Street Parking

Adjacent

Atlanta University Center (Morehouse, Spelman, CAU)

Full Transparency

Why Last Year's Expenses Ran High

Look at the trailing 12-month actuals and you'll notice expenses ran higher than you'd expect in a stabilized year. The seller put significant capital into the property over the past two years catching up every piece of deferred maintenance: smart home and security upgrades (cameras, locks), major driveway repair, preventative roof and gutter work, room overhauls including TVs, and washer/dryer replacement.

The good news: that work is done. The numbers on this page use the trailing 3-month stabilized actuals, which reflect the property as it runs today. And the income side is still below the zip code average, with room to move up.

Questions Buyers Ask

Frequently Asked Questions

How does the $500,000 appraisal factor into my purchase?

Your lender will most likely order its own appraisal for your loan. What the 2026 appraisal gives you is confidence in the price: a licensed appraiser valued the property at $500,000 this year, and you're buying at $475,000. The full report is available for review during diligence, and the listing team can connect you with preferred lenders who already know the deal.

What happens to the members when the property sells?

Nothing disruptive. The property transfers as an operating PadSplit: members stay in place, income keeps flowing, and PadSplit has an established host-transfer process for the platform account. The house runs at high occupancy, with 92% true occupancy over the trailing twelve months.

What's included in the sale?

The property conveys as a turnkey operation: room furnishings, the TVs in most rooms, both laundry setups, and the full exterior and interior common-area camera security system. The double lot is included, and the survey is available here.

Why is the seller selling?

The seller is repositioning into value-add co-living projects via a 1031 exchange. This property is stabilized: the deferred maintenance is caught up, management is in place, and occupancy is high. It no longer fits a value-add strategy, but that's exactly what makes it attractive to buy.

Do I have to keep it on PadSplit?

No. The house works on any co-living platform or as a rent-by-the-room operation, and the duplex-like layout (two kitchens, two entrances) supports other strategies entirely. But the PadSplit infrastructure (listing, reviews, member base, 4.7-star rating) is turnkey and transfers with the sale, so most buyers will want to keep it.

How do showings and due diligence work?

This is an occupied co-living home, so showings are coordinated through management to respect the members. Most diligence can happen up front: the financial model, actuals, photos, video, floorplans, and survey are all linked on this page, and the appraisal is available on request.

What does the +3 en-suite conversion actually involve?

Adding private bathrooms to three of the oversized bedrooms, using space from the rooms themselves and the extra-wide upstairs hallway. The estimate is roughly $7,500 per bath ($22,500 total), and each en-suite adds about $5,000 in annual revenue at market rates with minimal added operating cost. The conversion plan is drawn out room by room in the linked floorplan.

10

4

2

3,600+

$88.5K

92%

4.7/5