Inside the perimeter, you're either trying to get as close to Buckhead, Midtown, or Downtown as possible. You want to be in an area with a nice surrounding area and low(er) crime rates. Retail then comes into play especially when you're factoring condos. Can you walk to the grocery store, retail shops, or entertainment? These are things you don't usually get outside the perimeter in the suburban areas, however, an in-town area (Buckhead, Virginia Highlands, Brookhaven, etc.) with a suburb feel are highly in demand. School districts don't play as big of a role in property values since private/charter schools are the preference here. Areas along public transportation lines are not the most desirable as you'd find in other areas of the country.
Outside the perimeter, the closer you are to an expressway is one of the leading property value boosters. Commute times in Atlanta are some of the worst in the country so this is becoming a more popular requirement. Retail is the next property value indicator. The closer you can be to malls, retail stores, shopping centers, and grocery stores ensures that your area is desirable. I would say high school districts are just as important as retail since this is what drives most people to move into the suburbs or from a neighboring county. The only exception to these rules are when you're assessing country club communities. Country Clubs can be very isolated and still command a heftier price tag than a comparable home that fits all the other criteria I used to assess home values outside the perimeter.
When purchasing a home location is important, but only you know what YOU need to be located close to you when you are living in the property. For investment properties, you want the property to encompass as many of these value indicators as possible in order to cater to as many potential buyers as possible.
