549 Summit Ln SW · Marietta, GA 30008

$189,999

2 bd · 1.5 ba · 1,170 sqft · Condo public records · 79 Days on market

Built 1981 $162/sqft · at area comps Est $190k · at est. $260/mo HOA · 15% of rent

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Why this score? — see what drove the D 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 +12.7/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• DSCR +3.8/10.0
• Rent growth +3.3/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Finally, a place you can actually call home. Well kept townhome in a solid location with easy access to everything. You’re minutes from Life University, Downtown Marietta, and Smyrna Market Village, plus quick access to restaurants, shopping, and major roads. Inside you’ve got two oversized bedrooms upstairs with a full bath, plus a convenient half bath on the main. The layout is open and functional, with a living room that features a fireplace and flows right into the dining area and kitchen. Out front, you’ve got a private patio space that’s perfect for hanging out or having people over without feeling exposed. Community offers a pool and wooded walking areas, giving you a quiet setting while still being close to everything. At this price point, it’s hard to beat for the location and space.

Key facts

• Wooded walking areas
• Quiet setting
• Private patio space

Tags

• PRIVATE PATIO SPACE
• COMMUNITY OFFERS A POOL
• WOODED WALKING AREAS
• QUIET SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-22 ($-262/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (10.4% below list).
• Recommended offer: $170k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.1% in Marietta — 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 83/100 on livability (#7 in GA, #976 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Marietta City (urban): math 37% / reading 38% proficiency, ranked #55 of 174 in GA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.2%/yr); 175 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,625 units permitted in Cobb County in 2024 (389 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.
• Cobb County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 4y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 22% 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 $170,310 (10.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.90% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 9.3

CMA / ARV

• ARV (median comp): $189,924
• List price: $189,999
• Delta: 0.04%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.40×
• Total profit: $-31,689
• Equity at exit: $28,329

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-27,373
• Equity at exit: $16,428

Cash invested: $53,200 (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 30008

• Rents YoY: 3.2%
• Active inventory: 175
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,703 high
• Mortgage (P&I): −$996
• Tax from tax record: −$32 /mo · $381/yr
• Insurance: −$79
• HOA: −$260
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-22

Break-even live

Break-even rent $1,731

Max offer price $186,144

Occupancy floor 96%

Sensitivity live

Price	-10% $86	-5% $32	+0% $-22	+5% $-293	+10% $-359
Rent	-10% $-156	-5% $-89	+0% $-22	+5% $45	+10% $113
Rate	-1.0pp $74	-0.5pp $27	base $-22	+0.5pp $-71	+1.0pp $-121

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1166 Booth Rd SW Marietta, GA	2.0	2.0	1059	$1,500	$1.42	25d	1	0.03mi
547 Picketts Bend Cir Marietta, GA	2.0	2.0	1162	$2,000	$1.72	25d	1	0.07mi
160 Booth Rd SW Unit B Marietta, GA	2.0	2.0	1200	$3,900	$3.25	0d	1	0.11mi
160 Booth Rd SW Unit A Marietta, GA	3.0	2.0	1200	$3,900	$3.25	0d	1	0.11mi
1166 Booth Rd SW #407 Marietta, GA	2.0	2.0	1059	$1,800	$1.70	19d	1	0.12mi
1166 Booth Rd SW #409 Marietta, GA	2.0	2.0	1147	$1,595	$1.39	45d	1	0.12mi
1137 Cayman Ln SW Marietta, GA	3.0	2.0	1482	$2,199	$1.48	45d	1	0.14mi
300 E Burns Ct SW Unit D Marietta, GA	2.0	2.0	1100	$1,750	$1.59	25d	1	0.15mi
1118 Booth Ct SW Marietta, GA	2.0	2.5	1400	$1,550	$1.11	45d	1	0.16mi
1103 Booth Ct SW Marietta, GA	2.0	2.5	1400	$1,590	$1.14	4d	1	0.18mi
349 W Post Oak Xing SW Marietta, GA	2.0	2.5	1152	$1,720	$1.49	5d	1	0.19mi
463 Booth Cir SW Marietta, GA	2.0	2.5	1184	$1,395	$1.18	45d	1	0.26mi
1280 Scripps Ct SW Marietta, GA	3.0	2.0	1314	$1,850	$1.41	5d	1	0.28mi
348 Pin Oak Ct SW Marietta, GA	3.0	3.0	1408	$1,750	$1.24	25d	1	0.28mi
16 Beech Rd SE Marietta, GA	2.0	2.0	1150	$1,436	$1.25	14d	2	0.47mi
1205 Natchez Trce SW Unit A Marietta, GA	2.0	2.0	1175	$1,599	$1.36	14d	1	0.57mi
123 Saine Dr SW Marietta, GA	2.0	1.5	1140	$1,395	$1.22	12d	1	0.68mi
123 Saine Dr SW Apt 202 Marietta, GA	2.0	1.5	1140	$1,395	$1.22	45d	1	0.68mi
1215 Oakplace Dr SW Unit D Marietta, GA	2.0	2.0	1100	$1,395	$1.27	45d	1	0.71mi
1215 Oakplace Dr SW Apt C Marietta, GA	2.0	1.0	800	$1,295	$1.62	45d	1	0.71mi
1215 Oakplace Dr SW Apt C Marietta, GA	2.0	1.0	800	$1,295	$1.62	25d	1	0.71mi
218 Walthall Ave SE Unit C08 Marietta, GA	2.0	1.0	955	$1,199	$1.26	25d	1	0.80mi
218 Walthall Ave SE Apt C6 Marietta, GA	2.0	1.0	955	$1,199	$1.26	0d	1	0.80mi
218 Walthall Ave SE Marietta, GA	2.0	1.0	955	$1,199	$1.26	16d	3	0.80mi
1380 Old Coach Rd SW Marietta, GA	2.0	1.0	882	$1,600	$1.81	25d	1	0.85mi
662 Bellemeade Dr SW Apt D Marietta, GA	2.0	1.0	1300	$1,299	$1.00	5d	1	0.85mi
662 Bellemeade Dr SW Apt D Marietta, GA	2.0	1.0	925	$1,299	$1.40	22d	1	0.85mi
662 Bellemeade Dr SW Marietta, GA	2.0	1.0	925	$1,299	$1.40	16d	1	0.85mi
396 Promenade Ct SW Marietta, GA	3.0	2.5	1311	$1,723	$1.31	0d	1	0.85mi
367 Leisure Ct SW Marietta, GA	2.0	1.5	1200	$1,400	$1.17	45d	1	0.86mi
1549 Knox Dr SE Marietta, GA	1.0–2.0	1.0	725	$1,175	$1.62	3d	4	0.88mi
1601 Massachusetts Ave SW Marietta, GA	2.0	1.0	700	$1,030	$1.47	0d	2	0.90mi
1275 Cunningham Rd SW Marietta, GA	2.0–3.0	2.0	1290	$1,366	$1.06	2d	15	0.93mi
1560 Sams St SE Marietta, GA	3.0	2.0	1118	$2,550	$2.28	45d	1	0.99mi
1788 Austell Rd SW Marietta, GA	1.0–2.0	1.0	948	$1,450	$1.53	6d	9	1.03mi
285 Henry St SE Marietta, GA	2.0	1.0	1056	$2,000	$1.89	5d	1	1.04mi
1290 Chapel Dr SW Marietta, GA	2.0	1.0	1000	$1,800	$1.80	25d	1	1.12mi
1547 Joyner Ave SE Marietta, GA	2.0	1.0	786	$1,400	$1.78	6d	1	1.15mi
1731 Sams St Unit C1731-G Marietta, GA	2.0	1.0	900	$1,099	$1.22	22d	1	1.20mi
1731 Sams St SE Marietta, GA	2.0	1.0	900	$1,099	$1.22	45d	1	1.20mi

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-21
   days on market $189,999 Active 79 DOM
2. 2026-06-18
   days on market $189,999 Active 76 DOM
3. 2026-06-17
   days on market $189,999 Active 75 DOM
4. 2026-06-16
   days on market $189,999 Active 74 DOM
5. 2026-06-15
   days on market $189,999 Active 73 DOM
6. 2026-06-13
   days on market $189,999 Active 71 DOM
7. 2026-06-09
   days on market $189,999 Active 67 DOM
8. 2026-06-08
   days on market $189,999 Active 66 DOM
9. 2026-06-07
   days on market $189,999 Active 65 DOM
10. 2026-06-04
    days on market $189,999 Active 62 DOM
11. 2026-06-03
    days on market $189,999 Active 61 DOM
12. 2026-06-02
    days on market $189,999 Active 60 DOM
13. 2026-06-02
    price $189,999 Active 59 DOM
14. 2026-06-01
    days on market $199,999 Active 59 DOM
15. 2026-05-31
    days on market $199,999 Active 58 DOM
16. 2026-04-28
    price $199,999 848-char remark

    Show marketing remark (848 chars)

    Finally, a place you can actually call home. Well kept townhome in a solid location with easy access to everything. You’re minutes from Life University, Downtown Marietta, and Smyrna Market Village, plus quick access to restaurants, shopping, and major roads. Inside you’ve got two oversized bedrooms upstairs with a full bath, plus a convenient half bath on the main. The layout is open and functional, with a living room that features a fireplace and flows right into the dining area and kitchen. Out front, you’ve got a private patio space that’s perfect for hanging out or having people over without feeling exposed. Community offers a pool and wooded walking areas, giving you a quiet setting while still being close to everything. At this price point, it’s hard to beat for the location and space.

17. 2026-04-01
    listed $205,000 Active 848-char remark

    Show marketing remark (848 chars)

    Finally, a place you can actually call home. Well kept townhome in a solid location with easy access to everything. You’re minutes from Life University, Downtown Marietta, and Smyrna Market Village, plus quick access to restaurants, shopping, and major roads. Inside you’ve got two oversized bedrooms upstairs with a full bath, plus a convenient half bath on the main. The layout is open and functional, with a living room that features a fireplace and flows right into the dining area and kitchen. Out front, you’ve got a private patio space that’s perfect for hanging out or having people over without feeling exposed. Community offers a pool and wooded walking areas, giving you a quiet setting while still being close to everything. At this price point, it’s hard to beat for the location and space.

18. 2024-09-19
    historical
19. 2024-09-19
    historical
20. 2024-08-25
    listed $207,999 New
21. 2024-08-25
    listed $207,999 Active
22. 2022-08-31
    soldstatus $180,000
23. 2022-08-19
    soldstatus $180,000 Closed
24. 2022-08-19
    soldstatus $180,000 Sold
25. 2022-07-28
    status Under Contract
26. 2022-07-28
    status Pending
27. 2022-07-15
    status Back On Market
28. 2022-07-15
    status Active
29. 2022-07-13
    historical Active Under Contract
30. 2022-07-12
    status Under Contract
31. 2022-06-29
    listed $173,500 Active
32. 2022-06-29
    listed $173,500 New
33. 2022-06-29
    historical
34. 2022-06-15
    status Back On Market
35. 2022-06-10
    status Under Contract
36. 2022-06-03
    status Back On Market
37. 2022-05-23
    status Under Contract
38. 2022-03-29
    listed $179,000 New
39. 1998-05-14
    soldstatus $66,400

ⓘ 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: $381 · $32/mo
• Projected year-2 tax: $1,748 · $146/mo
• Expected delta: +$1,367/yr (+$114/mo · 359.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,437
• − Mortgage interest: −$10,643
• − Property taxes: −$381
• − Insurance: −$950
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − HOA: −$3,120
• − Depreciation: −$5,527
• Taxable loss: −$3,454
• Est. tax savings @ 24.0%: +$829
• After-tax cash flow: $567/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: Marietta City
• NCES district ID: 1303510
• Math proficiency: 37% ▼ -8.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $46,226
• Composite: 32.06/100
• National rank: #5818
• State rank: #55 of 174 in GA

Livability — Marietta

• Score: 83/100
• State rank: #7
• US rank: #976

Category grades

Amenities A+ Commute A+ Cost of living C Crime C Employment B- Housing A+ Health & safety A- User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marietta, GA
• County: Cobb County · 777,758 people
• City population: 331,369
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 35,547
• Household income: $74,877
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1407.0

Population outlook (Cobb County) Hauer SSP2

• Today (2025): 868,385 people
• By 2030: 929,614 · +7.1%
• By 2040: 1,047,533 · +20.6%
• By 2050: 1,155,537 · +33.1%
• By 2075: 1,405,030 · +61.8%
• By 2100: 1,555,058 · +79.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 39% Hispanic / Latino 35% White 18% Two or more races 8% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Estonian 2% Serbian 1% Slovak 1%
• Foreign-born: 26% · Canada, Vietnam, China
• Languages at home: 62% English-only · Spanish 31% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Cobb

• 2024 margin: D (+14.9) · D 56.9% · R 42.0% · Other 1.1%
• 2008→2024 swing: +24.3pp toward D · 2008: -9.4pp · 2024: 14.9pp
• All cycles: 2024: D+14.9 2020: D+14.3 2016: D+2.1 2012: R+12.6 2008: R+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -205.66%
• Current HPI: 257.5596
• Rent YoY: ▲ 3.25%
• 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

+201.2% since first listed

24 events — show timeline

• 2026-04-28 Price Changed $199,999 FMLS
• 2026-04-01 Listed $205,000 FMLS
• 2024-09-19 Listing Removed — FMLS
• 2024-09-19 Listing Removed — GAMLS
• 2024-08-25 Listed $207,999 FMLS
• 2024-08-25 Listed $207,999 GAMLS
• 2022-08-31 Sold (Public Records) $180,000 Public Records
• 2022-08-19 Sold (MLS) $180,000 GAMLS
• 2022-08-19 Sold (MLS) $180,000 FMLS
• 2022-07-28 Pending — GAMLS
• 2022-07-28 Pending — FMLS
• 2022-07-15 Relisted — GAMLS
• 2022-07-15 Relisted — FMLS
• 2022-07-13 Contingent — FMLS
• 2022-07-12 Pending — GAMLS
• 2022-06-29 Listing Removed — GAMLS
• 2022-06-29 Listed $173,500 GAMLS
• 2022-06-29 Listed $173,500 FMLS
• 2022-06-15 Relisted — GAMLS
• 2022-06-10 Pending — GAMLS
• 2022-06-03 Relisted — GAMLS
• 2022-05-23 Pending — GAMLS
• 2022-03-29 Listed $179,000 GAMLS
• 1998-05-14 Sold (Public Records) $66,400 Public Records

Property tax history

+1.6%/yr

Latest (2025): $381 · +0.0% YoY. Source: county tax records.