5019 Lower Elm St · South Fulton, GA 30349

$160,000

3 bd · 2.5 ba · 1,476 sqft · Townhouse public records · 42 Days on market

Built 2004 1,794 sqft lot Est $217k · 26% under $74/mo HOA · 4% of rent ↓ 27% since listing

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Why this score? — see what drove the A- 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 +26.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.0/10.0
• 1% rule +8.1/10.0
• Schools +4.5/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Well-maintained brick townhouse located in Atlanta featuring 2 bedrooms and 2.5 bathrooms with a functional two-level layout. The main level offers laminate flooring throughout the family room and dining room combination, highlighted by a gas fireplace and convenient access to the enclosed backyard. The kitchen is equipped with stainless steel appliances including a stove, microwave, and dishwasher (refrigerator not included). A half bath and 1-car garage are also located on the main level. Upstairs includes a flexible office area, laundry closet, and two bedrooms. The main bedroom features carpet and a private full bath, while the secondary bedroom also has its own full bathroom, providing added convenience and privacy.

Key facts

• Flexible office area
• Two level layout
• Gas fireplace

Tags

• BRICK TOWNHOUSE
• TWO LEVEL LAYOUT
• GAS FIREPLACE
• ENCLOSED BACKYARD
• STAINLESS STEEL APPLIANCES
• FLEXIBLE OFFICE AREA

Property features AI

Finance

• Other: Paved city street frontage; GPS directions
• Financial info: Community consists of single-unit community entry (one unit in community record)
• HOA & community: Homeowners association with annual fee; Association fee $882 annually; Community amenities: clubhouse, playground, pool, sidewalks, street lights

Exterior

• Parking: Attached garage (1 car) with driveway; garage faces front; Driveway with level access; Open parking available
• Utilities: Public water; Public sewer; Electric service available; Natural gas available
• Home design: Two levels; Brick front; Resale property; Fee simple ownership
• Construction: Composition roof; Slab foundation; Brick front and other construction materials; Built as part of a townhouse/condo community
• Exterior features: Private yard; Front porch; Patio; Back yard fenced with wood privacy fencing

Interior

• Kitchen: Breakfast bar; Eat-in kitchen; Solid surface counters; View to family room; Dishwasher; Electric oven and electric range; Microwave
• Bedrooms: Two upper-level bedrooms; Roommate floor plan
• Flooring: Carpet; Laminate; Other
• Bathrooms: Two full bathrooms; One half bathroom; Master bath with tub/shower combination
• Heating & cooling: Central air; Ceiling fans; Natural gas heating
• Interior features: Crown molding; Tray ceilings; Gas-started fireplace in the family room; Shared walls (townhome-style) with no units above or below; Open concept dining area; Family room
• Laundry & utility: Upper-level laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $160k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 A — affects rentability + tenant quality, not the cash-flow math above.
• Fulton County (suburban): math 49% / reading 53% proficiency, ranked #12 of 174 in GA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Wolf Creek Elementary (math 27% / reading 32%, grade F, #633 of 1,228 statewide, top 54%, 797 students, 56% FRL); Renaissance Middle School (math 22% / reading 27%, grade F, #301 of 470 statewide, top 66%, 1,166 students, 71% FRL); Langston Hughes High School (math 8% / reading 17%, grade F, #336 of 424 statewide, top 80%, 1,964 students, 65% FRL) — zoned schools average 64% FRL vs 41% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 51% district-wide (-29 pts) — the specific schools serving this property underperform the Fulton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 651 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 37% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.9% rent growth), your $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 3y ago; this cycle's ask has dropped $40k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $155,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.31% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.22%
• DSCR: 1.50
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $216,972
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5019 Lower Elm St	0.00mi	2/2.5 (-1)	1,476 (0%)	1mo	$125,320	$85	94
4991 Lower Elm St	0.06mi	3/2.5	1,424 (-4%)	0mo	$199,900	$140	91
4957 Lower Elm St	0.20mi	3/2.5	1,520 (+3%)	7mo	$245,000	$161	80
5076 Lower Elm St	0.09mi	3/2.5	1,400 (-5%)	17mo	$200,000	$143	73
4992 Lower Elm St	0.13mi	3/2.5	1,679 (+14%)	11mo	$247,000	$147	62
960 Belfry Ter	0.47mi	3/2.5	1,539 (+4%)	20mo	$297,000	$193	55
1008 Belfry Ter	0.42mi	3/3.5	1,685 (+14%)	19mo	$300,000	$178	37

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

Projected returns pro-forma

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

5-year hold

• IRR: 31.5%
• Equity multiple: 3.45×
• Total profit: $109,690
• Equity at exit: $144,141

10-year hold

• IRR: 26.6%
• Equity multiple: 7.57×
• Total profit: $294,383
• Equity at exit: $310,845

Cash invested: $44,800 (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: 651
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,093 high
• Mortgage (P&I): −$839
• Tax from tax record: −$255 /mo · $3,057/yr
• Insurance: −$67
• HOA: −$74
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $419

Break-even live

Break-even rent $1,563

Max offer price $160,000

Occupancy floor 75%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4660 Derrick Rd Atlanta, GA	1.0–3.0	1.0–2.0	1029	$2,724	$2.65	1d	32	0.64mi
4407 Sparrow Cir Atlanta, GA	3.0–5.0	2.5–3.0	2055	$2,335	$1.14	1d	10	0.97mi
4108 Robin Cir Atlanta, GA	3.0	2.5	1786	$2,400	$1.34	43d	1	1.07mi
4407 Roche St Atlanta, GA	3.0	2.0	1650	$1,875	$1.14	43d	1	1.12mi
4420 Roche St Atlanta, GA	3.0	2.5	1622	$2,130	$1.31	43d	1	1.16mi
4064 Robin Cir Atlanta, GA	3.0	2.5	1874	$1,895	$1.01	24d	1	1.17mi
4223 Reeshemah St Atlanta, GA	3.0	2.5	1843	$1,995	$1.08	5d	1	1.18mi
5055 Southwood Rd Fairburn, GA	3.0–4.0	2.5–3.5	1692	$2,153	$1.27	1d	76	1.18mi
4062 Robin Cir Atlanta, GA	3.0	3.0	1874	$1,910	$1.02	24d	1	1.19mi
4056 Robin Cir Atlanta, GA	3.0	2.5	1174	$1,895	$1.61	24d	1	1.20mi
5505 Southwood Rd Fairburn, GA	3.0	3.0	1500	$2,501	$1.67	24d	1	1.27mi
4365 Stonewall Tell Rd Atlanta, GA	3.0	2.0	1460	$1,823	$1.25	43d	1	1.28mi

HOA detail

• Monthly dues: $74 · $888/yr
• Likely covers: gas

Listing history 34 events

1. 2026-04-29
   status Under Contract 735-char remark

   Show marketing remark (735 chars)

   Well-maintained brick townhouse located in Atlanta featuring 2 bedrooms and 2.5 bathrooms with a functional two-level layout. The main level offers laminate flooring throughout the family room and dining room combination, highlighted by a gas fireplace and convenient access to the enclosed backyard. The kitchen is equipped with stainless steel appliances including a stove, microwave, and dishwasher (refrigerator not included). A half bath and 1-car garage are also located on the main level. Upstairs includes a flexible office area, laundry closet, and two bedrooms. The main bedroom features carpet and a private full bath, while the secondary bedroom also has its own full bathroom, providing added convenience and privacy.

2. 2026-04-29
   status Pending

   Show marketing remark (735 chars)

   Well-maintained brick townhouse located in Atlanta featuring 2 bedrooms and 2.5 bathrooms with a functional two-level layout. The main level offers laminate flooring throughout the family room and dining room combination, highlighted by a gas fireplace and convenient access to the enclosed backyard. The kitchen is equipped with stainless steel appliances including a stove, microwave, and dishwasher (refrigerator not included). A half bath and 1-car garage are also located on the main level. Upstairs includes a flexible office area, laundry closet, and two bedrooms. The main bedroom features carpet and a private full bath, while the secondary bedroom also has its own full bathroom, providing added convenience and privacy.

3. 2026-04-17
   price $160,000

   Show marketing remark (735 chars)

   Well-maintained brick townhouse located in Atlanta featuring 2 bedrooms and 2.5 bathrooms with a functional two-level layout. The main level offers laminate flooring throughout the family room and dining room combination, highlighted by a gas fireplace and convenient access to the enclosed backyard. The kitchen is equipped with stainless steel appliances including a stove, microwave, and dishwasher (refrigerator not included). A half bath and 1-car garage are also located on the main level. Upstairs includes a flexible office area, laundry closet, and two bedrooms. The main bedroom features carpet and a private full bath, while the secondary bedroom also has its own full bathroom, providing added convenience and privacy.

4. 2026-04-17
   price $160,000 735-char remark

   Show marketing remark (735 chars)

   Well-maintained brick townhouse located in Atlanta featuring 2 bedrooms and 2.5 bathrooms with a functional two-level layout. The main level offers laminate flooring throughout the family room and dining room combination, highlighted by a gas fireplace and convenient access to the enclosed backyard. The kitchen is equipped with stainless steel appliances including a stove, microwave, and dishwasher (refrigerator not included). A half bath and 1-car garage are also located on the main level. Upstairs includes a flexible office area, laundry closet, and two bedrooms. The main bedroom features carpet and a private full bath, while the secondary bedroom also has its own full bathroom, providing added convenience and privacy.

5. 2026-03-17
   listed $200,000 New 735-char remark

   Show marketing remark (735 chars)

   Well-maintained brick townhouse located in Atlanta featuring 2 bedrooms and 2.5 bathrooms with a functional two-level layout. The main level offers laminate flooring throughout the family room and dining room combination, highlighted by a gas fireplace and convenient access to the enclosed backyard. The kitchen is equipped with stainless steel appliances including a stove, microwave, and dishwasher (refrigerator not included). A half bath and 1-car garage are also located on the main level. Upstairs includes a flexible office area, laundry closet, and two bedrooms. The main bedroom features carpet and a private full bath, while the secondary bedroom also has its own full bathroom, providing added convenience and privacy.

6. 2026-03-17
   listed $200,000 Active

   Show marketing remark (735 chars)

   Well-maintained brick townhouse located in Atlanta featuring 2 bedrooms and 2.5 bathrooms with a functional two-level layout. The main level offers laminate flooring throughout the family room and dining room combination, highlighted by a gas fireplace and convenient access to the enclosed backyard. The kitchen is equipped with stainless steel appliances including a stove, microwave, and dishwasher (refrigerator not included). A half bath and 1-car garage are also located on the main level. Upstairs includes a flexible office area, laundry closet, and two bedrooms. The main bedroom features carpet and a private full bath, while the secondary bedroom also has its own full bathroom, providing added convenience and privacy.

7. 2025-08-01
   historical
8. 2025-08-01
   historical
9. 2025-06-06
   price $199,000
10. 2025-06-06
    price $199,000
11. 2025-05-06
    listed $229,000 Active
12. 2025-05-06
    listed $229,000 New
13. 2025-04-30
    historical
14. 2025-04-30
    historical
15. 2025-03-10
    price $215,000
16. 2025-03-10
    price $215,000
17. 2025-02-25
    listed $220,000 Active
18. 2025-02-25
    listed $220,000 New
19. 2025-01-30
    historical
20. 2025-01-30
    historical
21. 2024-08-07
    price $230,000
22. 2024-08-07
    price $230,000
23. 2024-07-08
    price $245,000
24. 2024-07-08
    price $245,000
25. 2024-06-05
    price $255,000
26. 2024-06-05
    price $255,000
27. 2024-05-02
    listed $265,000 Active
28. 2024-04-02
    listed $265,000 New
29. 2023-06-13
    soldstatus $219,900 Closed
30. 2023-06-13
    soldstatus $219,900 Sold
31. 2023-05-18
    status Under Contract
32. 2023-05-18
    status Pending
33. 2023-05-03
    listed $219,900 New
34. 2023-05-02
    listed $219,900 Active

ⓘ 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: $3,057 · $255/mo
• Projected year-2 tax: $3,057 · $255/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $25,112
• − Mortgage interest: −$8,962
• − Property taxes: −$3,057
• − Insurance: −$800
• − Repairs & maintenance: −$2,009
• − Management: −$2,009
• − HOA: −$888
• − Depreciation: −$4,655
• Taxable income: $2,732
• Est. tax owed @ 24.0%: −$656
• After-tax cash flow: $4,369/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: Fulton County
• NCES district ID: 1302280
• Math proficiency: 49% ▼ -2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $68,035
• Composite: 45.33/100
• National rank: #2640
• State rank: #12 of 174 in GA

Livability — South Fulton

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

Census & demographics

• Census place: South Fulton, GA
• 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 (Fulton County) Hauer SSP2

• Today (2025): 1,203,707 people
• By 2030: 1,299,706 · +8.0%
• By 2040: 1,488,256 · +23.6%
• By 2050: 1,664,580 · +38.3%
• By 2075: 2,036,072 · +69.2%
• By 2100: 2,222,402 · +84.6%

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 · Fulton

• 2024 margin: Solid D (+44.9) · D 71.9% · R 27.0% · Other 1.1%
• 2008→2024 swing: +9.8pp toward D · 2008: 35.0pp · 2024: 44.9pp
• All cycles: 2024: D+44.9 2020: D+46.4 2016: D+42.1 2012: D+29.6 2008: D+35.0

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

-27.2% since first listed

34 events — show timeline

• 2026-04-29 Pending — GAMLS
• 2026-04-29 Pending — FMLS
• 2026-04-17 Price Changed $160,000 FMLS
• 2026-04-17 Price Changed $160,000 GAMLS
• 2026-03-17 Listed $200,000 FMLS
• 2026-03-17 Listed $200,000 GAMLS
• 2025-08-01 Listing Removed — GAMLS
• 2025-08-01 Listing Removed — FMLS
• 2025-06-06 Price Changed $199,000 GAMLS
• 2025-06-06 Price Changed $199,000 FMLS
• 2025-05-06 Listed $229,000 GAMLS
• 2025-05-06 Listed $229,000 FMLS
• 2025-04-30 Listing Removed — GAMLS
• 2025-04-30 Listing Removed — FMLS
• 2025-03-10 Price Changed $215,000 GAMLS
• 2025-03-10 Price Changed $215,000 FMLS
• 2025-02-25 Listed $220,000 GAMLS
• 2025-02-25 Listed $220,000 FMLS
• 2025-01-30 Listing Removed — GAMLS
• 2025-01-30 Listing Removed — FMLS
• 2024-08-07 Price Changed $230,000 GAMLS
• 2024-08-07 Price Changed $230,000 FMLS
• 2024-07-08 Price Changed $245,000 FMLS
• 2024-07-08 Price Changed $245,000 GAMLS
• 2024-06-05 Price Changed $255,000 GAMLS
• 2024-06-05 Price Changed $255,000 FMLS
• 2024-05-02 Listed $265,000 FMLS
• 2024-04-02 Listed $265,000 GAMLS
• 2023-06-13 Sold (MLS) $219,900 GAMLS
• 2023-06-13 Sold (MLS) $219,900 FMLS
• 2023-05-18 Pending — GAMLS
• 2023-05-18 Pending — FMLS
• 2023-05-03 Listed $219,900 GAMLS
• 2023-05-02 Listed $219,900 FMLS

Property tax history

+3.8%/yr

Latest (2025): $3,057 · -9.8% YoY. Source: county tax records.