5969 Friar Ct · South Fulton, GA 30349

$459,000

5 bd · 6.0 ba · 3,354 sqft · MultiFamily public records · 118 Days on market

Built 1989 0.34 ac lot Est $434k · 6% over

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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 +24.5/30.0
• Appreciation +10.0/10.0
• DSCR +7.9/10.0
• 1% rule +6.5/10.0
• ARV discount +4.9/15.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Great property to add to your rental portfolio! Instant income. All three units have long term tenants. Any viewing will be with an accepted contract. DO NOT DISTURB TENANTS!

Key facts

• 0.34 acre lot
• Garage
• Built 1989

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3-bath units multifamily listed at $459k.

Deal economics

• At list price, monthly cash flow is $939 ($11k/yr) — positive. Per door: $313/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $459k).
• Recommended offer: $418k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.6% in South Fulton — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 656 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• At $5,274/mo this rent would consume 94% of the median local household income ($67k/yr) (locally 4258% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $49k of equity ($3k loan paydown + $46k appreciation (10.0% local appreciation)).
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.9% rent growth), your $129k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$79k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $152k; list at $459k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $417,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.77%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (median comp): $433,845
• List price: $459,000
• Delta: 5.80%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 0.95% rent growth · sell at horizon

5-year hold

• IRR: 29.8%
• Equity multiple: 3.33×
• Total profit: $299,230
• Equity at exit: $413,504

10-year hold

• IRR: 25.2%
• Equity multiple: 7.34×
• Total profit: $814,517
• Equity at exit: $891,736

Cash invested: $128,520 (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 30349

• Home prices YoY: 4.6%
• Rents YoY: 0.9%
• Active inventory: 656
• Price-to-rent: 21.8×

Monthly cashflow live

• Estimated rent: $5,274 high
• Mortgage (P&I): −$2,407
• Tax from tax record: −$629 /mo · $7,552/yr
• Insurance: −$191
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,108
• Net cashflow: $939

Break-even live

Break-even rent $4,086

Max offer price $459,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,199	-5% $1,069	+0% $939	+5% $809	+10% $679
Rent	-10% $522	-5% $730	+0% $939	+5% $1,147	+10% $1,355
Rate	-1.0pp $1,170	-0.5pp $1,056	base $939	+0.5pp $820	+1.0pp $699

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$5,274
Total (3 units)			$5,274

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: $114,750
• Closing costs: $13,770
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5848 El Segundo Way Atlanta, GA	5.0	3.0	2560	$2,560	$1.00	6d	1	0.48mi
6405 Beethoven Cir Riverdale, GA	5.0	3.0	2606	$2,435	$0.93	0d	1	0.76mi
6325 Polar Fox Ct Riverdale, GA	4.0	2.5	2471	$2,445	$0.99	23d	1	0.80mi
5632 Savannah River Rd Atlanta, GA	5.0	3.0	2584	$2,500	$0.97	0d	1	1.00mi
6893 Estepona St Atlanta, GA	4.0	2.5	2724	$2,330	$0.86	6d	1	1.39mi
1340 Pineglen Dr Riverdale, GA	5.0	3.0	2340	$2,100	$0.90	18d	1	1.41mi
2372 Creel Rd Atlanta, GA	4.0	3.0	2579	$2,229	$0.86	3d	1	1.46mi

Listing history 9 events

1. 2026-06-04
   statusdays on market $459,000 Under Contract 118 DOM
2. 2026-06-03
   days on market $459,000 Active 117 DOM
3. 2026-06-02
   days on market $459,000 Active 116 DOM
4. 2026-06-01
   days on market $459,000 Active 115 DOM
5. 2026-05-31
   days on market $459,000 Active 114 DOM
6. 2026-04-10
   status Back On Market 174-char remark

   Show marketing remark (174 chars)

   Great property to add to your rental portfolio! Instant income. All three units have long term tenants. Any viewing will be with an accepted contract. DO NOT DISTURB TENANTS!

7. 2026-04-01
   status Under Contract 174-char remark

   Show marketing remark (174 chars)

   Great property to add to your rental portfolio! Instant income. All three units have long term tenants. Any viewing will be with an accepted contract. DO NOT DISTURB TENANTS!

8. 2026-01-23
   listed $459,000 New 174-char remark

   Show marketing remark (174 chars)

   Great property to add to your rental portfolio! Instant income. All three units have long term tenants. Any viewing will be with an accepted contract. DO NOT DISTURB TENANTS!

9. 1990-08-28
   soldstatus $151,500

ⓘ 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: $7,552 · $629/mo
• Projected year-2 tax: $7,552 · $629/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,288
• − Mortgage interest: −$25,711
• − Property taxes: −$7,552
• − Insurance: −$2,295
• − Repairs & maintenance: −$5,063
• − Management: −$5,063
• − Depreciation: −$13,353
• Taxable income: $4,251
• Est. tax owed @ 24.0%: −$1,020
• After-tax cash flow: $10,246/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: Clayton County
• NCES district ID: 1301230
• Math proficiency: 11% ▼ -13.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $42,266
• Composite: 13.41/100
• National rank: #9527
• State rank: #155 of 174 in GA

Livability — South Fulton

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Fulton County · 1,094,430 people
• City population: 127,674
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 79,872
• Household income: $67,023
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 4258.0

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 310,777 people
• By 2030: 329,762 · +6.1%
• By 2040: 368,052 · +18.4%
• By 2050: 401,196 · +29.1%
• By 2075: 472,488 · +52.0%
• By 2100: 500,446 · +61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (89%)
• Race & ethnicity: Black 89% Hispanic / Latino 5% Two or more races 4% White 3%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid D (+69.2) · D 84.3% · R 15.1%
• 2008→2024 swing: +2.8pp toward D · 2008: 66.4pp · 2024: 69.2pp
• All cycles: 2024: D+69.2 2020: D+70.9 2016: D+71.9 2012: D+70.1 2008: D+66.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.01%
• Current HPI: 407.99
• Rent YoY: ▲ 0.95%
• 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

+203.0% since first listed

4 events — show timeline

• 2026-04-10 Relisted — GAMLS
• 2026-04-01 Pending — GAMLS
• 2026-01-23 Listed $459,000 GAMLS
• 1990-08-28 Sold (Public Records) $151,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $7,552 · +76.5% YoY. Source: county tax records.