1535 Flat Shoals Rd SW · Conyers, GA 30094

$199,999

3 bd · 2.0 ba · 1,688 sqft · SingleFamily public records · 104 Days on market

Built 1969 1.22 ac lot $118/sqft · 17% below area Est $242k · 17% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.4/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

*** TENANTS ON MONTH TO MONTH*** Will leave with 30 days notice - Great Investment Opportunity in Conyers! This 3-bedroom, 2-bath home sits on a 1.2-acre lot in a prime location just minutes from Highway 20, shopping, and restaurants. The main level features hardwood floors throughout, offering a solid base for updates, rental income, or personal use. Perfect for investors, flippers, or buyers looking for space and convenience in a growing area. Tenants currently paying $2,000

Key facts

• 1.2 acre lot
• Prime location
• Hardwood floors

Tags

• INVESTMENT OPPORTUNITY
• PRIME LOCATION
• HARDWOOD FLOORS
• 1.2 ACRE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.4% in Conyers — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#167 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D, amenities D.
• Rockdale County (suburban): math 14% / reading 29% proficiency, ranked #136 of 174 in GA (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.2%/yr); 386 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 483 units permitted in Rockdale County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Rockdale County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,999 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.40%
• DSCR: 1.20
• GRM: 8.0

CMA / ARV

• ARV (median comp): $241,520
• List price: $199,999
• Delta: -17.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1660 Almand Creek Dr SW	0.50mi	3/2.0	1,736 (+3%)	14mo	$230,000	$132	60
1415 Almand Creek Dr SW	0.60mi	4/2.0 (+1)	1,600 (-5%)	2mo	$247,450	$155	57
1423 Almand Creek Dr SW	0.59mi	4/2.0 (+1)	1,600 (-5%)	4mo	$259,900	$162	55
1404 Meadowind Ct SW	0.53mi	3/2.0	1,800 (+7%)	11mo	$264,900	$147	55
1344 Hill Dr SW	0.54mi	3/2.0	1,838 (+9%)	9mo	$217,000	$118	52
1830 Francis Rd SW	0.73mi	3/2.5	1,715 (+2%)	11mo	$225,000	$131	52
1440 Smyrna Rd SW	0.58mi	3/1.0	1,455 (-14%)	8mo	$249,000	$171	39
1435 Ebenezer Rd SW	0.50mi	4/2.5 (+1)	1,880 (+11%)	21mo	$440,000	$234	33
1420 Smyrna Rd SW	0.55mi	4/2.5 (+1)	1,880 (+11%)	20mo	$445,000	$237	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-20,328
• Equity at exit: $29,821

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $5,267
• Equity at exit: $17,292

Cash invested: $56,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 30094

• Rents YoY: 4.2%
• Active inventory: 386
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,076 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$303 /mo · $3,630/yr
• Insurance: −$83
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $150

Break-even live

Break-even rent $1,886

Max offer price $199,999

Occupancy floor 88%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1719 Prospect Way SW Conyers, GA	3.0	2.5	1985	$2,395	$1.21	20d	1	0.84mi
1840 Eastmore Ave SW Conyers, GA	3.0	2.5	1988	$2,400	$1.21	24d	1	0.84mi
1727 Prospect Way SW Conyers, GA	3.0	2.5	1985	$2,400	$1.21	44d	1	0.86mi
1200 Rockmont Cir SW Conyers, GA	1.0–3.0	1.0–1.5	947	$1,349	$1.42	44d	1	0.94mi
1825 Parker Rd SE Conyers, GA	1.0–3.0	1.0–2.0	1111	$1,895	$1.71	2d	18	1.07mi
1477 Cherry Hill Rd SW Conyers, GA	3.0	2.0	1396	$1,725	$1.24	24d	1	1.08mi
1520 Cherry Hill Rd SW Conyers, GA	4.0	2.0	1686	$2,300	$1.36	5d	1	1.11mi
1731 Hidden Acres Dr SW Conyers, GA	3.0	2.0	1904	$1,799	$0.94	2d	1	1.14mi
1576 Cherry Hill Ct SW Conyers, GA	3.0	2.0	1392	$1,450	$1.04	20d	1	1.21mi
1605 Sugar Plum Dr SW Conyers, GA	3.0	2.0	2240	$1,800	$0.80	44d	1	1.26mi
1616 Cherry Hill Rd SW Conyers, GA	3.0	2.0	1250	$1,639	$1.31	3d	1	1.34mi
288 Morris Dr SE Conyers, GA	3.0	2.0	1251	$1,731	$1.38	13d	1	1.45mi
2050 Appaloosa Way Conyers, GA	3.0	3.0	1556	$2,105	$1.35	44d	1	1.46mi
2319 Rolling Acres Ct SW Conyers, GA	4.0	2.0	2200	$1,900	$0.86	24d	1	1.46mi
2319 Rolling Acres Ct SW Conyers, GA	4.0	2.0	2199	$1,900	$0.86	44d	1	1.46mi
2032 Appaloosa Way Conyers, GA	3.0	2.5	1561	$1,955	$1.25	5d	1	1.49mi
2059 Appaloosa Way Conyers, GA	3.0	3.0	1556	$2,055	$1.32	44d	1	1.50mi

Listing history 38 events

1. 2026-05-31
   days on market $199,999 Active 104 DOM
2. 2026-03-17
   price $199,999 484-char remark

   Show marketing remark (484 chars)

   *** TENANTS ON MONTH TO MONTH*** Will leave with 30 days notice - Great Investment Opportunity in Conyers! This 3-bedroom, 2-bath home sits on a 1.2-acre lot in a prime location just minutes from Highway 20, shopping, and restaurants. The main level features hardwood floors throughout, offering a solid base for updates, rental income, or personal use. Perfect for investors, flippers, or buyers looking for space and convenience in a growing area. Tenants currently paying $2,000

3. 2026-03-17
   price $199,999 484-char remark

   Show marketing remark (484 chars)

   *** TENANTS ON MONTH TO MONTH*** Will leave with 30 days notice - Great Investment Opportunity in Conyers! This 3-bedroom, 2-bath home sits on a 1.2-acre lot in a prime location just minutes from Highway 20, shopping, and restaurants. The main level features hardwood floors throughout, offering a solid base for updates, rental income, or personal use. Perfect for investors, flippers, or buyers looking for space and convenience in a growing area. Tenants currently paying $2,000

4. 2026-02-16
   listed $205,000 New 484-char remark

   Show marketing remark (484 chars)

   *** TENANTS ON MONTH TO MONTH*** Will leave with 30 days notice - Great Investment Opportunity in Conyers! This 3-bedroom, 2-bath home sits on a 1.2-acre lot in a prime location just minutes from Highway 20, shopping, and restaurants. The main level features hardwood floors throughout, offering a solid base for updates, rental income, or personal use. Perfect for investors, flippers, or buyers looking for space and convenience in a growing area. Tenants currently paying $2,000

5. 2026-02-16
   listed $205,000 Active 484-char remark

   Show marketing remark (484 chars)

   *** TENANTS ON MONTH TO MONTH*** Will leave with 30 days notice - Great Investment Opportunity in Conyers! This 3-bedroom, 2-bath home sits on a 1.2-acre lot in a prime location just minutes from Highway 20, shopping, and restaurants. The main level features hardwood floors throughout, offering a solid base for updates, rental income, or personal use. Perfect for investors, flippers, or buyers looking for space and convenience in a growing area. Tenants currently paying $2,000

6. 2026-02-10
   historical
7. 2025-10-02
   listed $205,000 New
8. 2025-09-30
   historical
9. 2025-09-30
   historical
10. 2025-09-22
    price $210,000
11. 2025-09-22
    price $210,000
12. 2025-08-14
    listed $220,000 Active
13. 2025-07-14
    listed $220,000 New
14. 2024-12-30
    historical
15. 2024-12-30
    historical
16. 2024-12-01
    price $259,500
17. 2024-12-01
    price $259,500
18. 2024-11-06
    listed $261,900 Active
19. 2024-11-06
    listed $261,900 New
20. 2024-11-05
    historical
21. 2022-09-06
    soldstatus $175,000
22. 2022-08-31
    soldstatus $175,000 Closed
23. 2022-08-30
    soldstatus $175,000 Sold
24. 2022-08-09
    status Pending
25. 2022-08-05
    historical Active Under Contract
26. 2022-08-05
    status Under Contract
27. 2022-07-19
    listed $190,000 Active
28. 2022-07-19
    listed $190,000 New
29. 2018-01-23
    soldstatus $60,000 Sold
30. 2018-01-22
    status Under Contract
31. 2018-01-03
    status Back on Market
32. 2017-12-21
    status Under Contract
33. 2017-10-19
    status Back on Market
34. 2017-10-13
    status Under Contract
35. 2017-05-15
    status Back on Market
36. 2017-04-20
    status Under Contract
37. 2017-02-25
    price $82,500
38. 2016-10-28
    listed $95,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $3,630 · $303/mo
• Projected year-2 tax: $3,630 · $303/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,910
• − Mortgage interest: −$11,203
• − Property taxes: −$3,630
• − Insurance: −$1,666
• − Repairs & maintenance: −$1,993
• − Management: −$1,993
• − Depreciation: −$5,818
• Taxable loss: −$1,394
• Est. tax savings @ 24.0%: +$335
• After-tax cash flow: $2,131/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rockdale County
• NCES district ID: 1304410
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $53,325
• Composite: 19.42/100
• National rank: #8776
• State rank: #136 of 174 in GA

Livability — Conyers

• Score: 67/100
• State rank: #167
• US rank: #10533

Category grades

Amenities D Commute F Cost of living A+ Crime D Employment F Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Rockdale County · 96,534 people
• City population: 96,534
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 33,731
• Household income: $88,530
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 549.0

Population outlook (Rockdale County) Hauer SSP2

• Today (2025): 99,145 people
• By 2030: 104,558 · +5.5%
• By 2040: 116,100 · +17.1%
• By 2050: 127,827 · +28.9%
• By 2075: 159,113 · +60.5%
• By 2100: 181,178 · +82.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 56% White 29% Two or more races 9% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Hispanic 1% Serbian 1% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Rockdale

• 2024 margin: Solid D (+47.5) · D 73.4% · R 25.9%
• 2008→2024 swing: +37.9pp toward D · 2008: 9.6pp · 2024: 47.5pp
• All cycles: 2024: D+47.5 2020: D+40.8 2016: D+25.9 2012: D+16.4 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -168.06%
• Current HPI: 205.627
• Rent YoY: ▲ 4.16%
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

+110.5% since first listed

37 events — show timeline

• 2026-03-17 Price Changed $199,999 GAMLS
• 2026-03-17 Price Changed $199,999 FMLS
• 2026-02-16 Listed $205,000 FMLS
• 2026-02-16 Listed $205,000 GAMLS
• 2026-02-10 Listing Removed — GAMLS
• 2025-10-02 Listed $205,000 GAMLS
• 2025-09-30 Listing Removed — GAMLS
• 2025-09-30 Listing Removed — FMLS
• 2025-09-22 Price Changed $210,000 GAMLS
• 2025-09-22 Price Changed $210,000 FMLS
• 2025-08-14 Listed $220,000 FMLS
• 2025-07-14 Listed $220,000 GAMLS
• 2024-12-30 Listing Removed — FMLS
• 2024-12-30 Listing Removed — GAMLS
• 2024-12-01 Price Changed $259,500 GAMLS
• 2024-12-01 Price Changed $259,500 FMLS
• 2024-11-06 Listed $261,900 FMLS
• 2024-11-06 Listed $261,900 GAMLS
• 2024-11-05 Coming Soon — FMLS
• 2022-09-06 Sold (Public Records) $175,000 Public Records
• 2022-08-31 Sold (MLS) $175,000 FMLS
• 2022-08-30 Sold (MLS) $175,000 GAMLS
• 2022-08-09 Pending — FMLS
• 2022-08-05 Contingent — FMLS
• 2022-08-05 Pending — GAMLS
• 2022-07-19 Listed $190,000 GAMLS
• 2022-07-19 Listed $190,000 FMLS
• 2018-01-23 Sold (MLS) $60,000 GAMLS
• 2018-01-22 Pending — GAMLS
• 2018-01-03 Relisted — GAMLS
• 2017-12-21 Pending — GAMLS
• 2017-10-19 Relisted — GAMLS
• 2017-10-13 Pending — GAMLS
• 2017-05-15 Relisted — GAMLS
• 2017-04-20 Pending — GAMLS
• 2017-02-25 Price Changed $82,500 GAMLS
• 2016-10-28 Listed $95,000 GAMLS

Property tax history

+18.4%/yr

Latest (2025): $3,630 · -0.1% YoY. Source: county tax records.