602 Pine Tree Trl · South Fulton, GA 30349

$150,000

4 bd · 2.5 ba · 1,567 sqft · Townhouse public records · 237 Days on market

Built 1989 1,393 sqft lot $96/sqft · 48% below area Est $289k · 48% under $17/mo HOA · 1% of rent

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.3/10.0
• 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

Spacious 4-bedroom, 2-bathroom townhome conveniently located just 10 minutes from Hartsfield-Jackson Atlanta International Airport! Perfectly situated near shopping, dining, and entertainment, this home offers both comfort and convenience. Great for Frist-Time Home Buyers or Investor-Friendly Opportunity - NO HOA Rental Restrictions, making it an ideal addition to your rental portfolio or a great long-term home.

Key facts

• $17 HOA
• Garage
• Built 1989

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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.
• Market conditions: Rents flat; 651 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); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 36% 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 $16k of equity ($1k loan paydown + $15k 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 $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 5y 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.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 10.92%
• Cash-on-cash: 16.53%
• DSCR: 1.74
• GRM: 6.2

CMA / ARV

• ARV (median comp): $288,540
• List price: $150,000
• Delta: -48.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1206 Creel Ln	0.16mi	3/2.5 (-1)	1,652 (+5%)	2mo	$240,000	$145	77
7005 Livia Pt	0.16mi	3/2.5 (-1)	1,568 (+0%)	13mo	$255,000	$163	76
1103 Pine Tree Trl	0.13mi	3/2.5 (-1)	1,466 (-6%)	4mo	$75,000	$51	75
1901 Creel Ln	0.22mi	3/2.5 (-1)	1,642 (+5%)	3mo	$240,000	$146	74
3008 Pine Tree Trl Unit 16D	0.10mi	3/2.5 (-1)	1,466 (-6%)	12mo	$126,000	$86	70
1109 Pinetree Trl	0.13mi	3/2.5 (-1)	1,466 (-6%)	14mo	$105,100	$72	67
2784 Haligan Pt	0.21mi	3/2.5 (-1)	1,380 (-12%)	1mo	$214,000	$155	64
7002 Galloway Pt	0.31mi	3/2.5 (-1)	1,428 (-9%)	19mo	$225,000	$158	50

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: 35.5%
• Equity multiple: 3.73×
• Total profit: $114,499
• Equity at exit: $135,132

10-year hold

• IRR: 29.9%
• Equity multiple: 8.16×
• Total profit: $300,687
• Equity at exit: $291,417

Cash invested: $42,000 (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 30349

• Home prices YoY: 4.6%
• Rents YoY: 0.9%
• Active inventory: 651
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,001 high
• Mortgage (P&I): −$787
• Tax from tax record: −$136 /mo · $1,636/yr
• Insurance: −$62
• HOA: −$17
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $578

Break-even live

Break-even rent $1,269

Max offer price $150,000

Occupancy floor 66%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3206 Pine Tree Trl Unit 15C Atlanta, GA	3.0	2.5	1466	$1,950	$1.33	4d	1	0.06mi
7060 Kimberly Mill Rd Atlanta, GA	3.0	1.0	1056	$1,425	$1.35	5d	1	0.27mi
2550 Hallie Mill Rd Atlanta, GA	3.0	2.0	1372	$1,600	$1.17	12d	1	0.37mi
7156 Tanger Blvd Riverdale, GA	4.0	2.5	1984	$2,229	$1.12	3d	1	0.39mi
110 Fruitwood Trce Unit A Riverdale, GA	3.0	2.0	1100	$1,800	$1.64	20d	1	0.43mi
7045 Birling Dr Atlanta, GA	4.0	3.0	1488	$1,765	$1.19	43d	1	0.43mi
2820 Greenbower Ct Atlanta, GA	3.0	2.0	1338	$1,730	$1.29	4d	1	0.44mi
2722 South Hills Riverdale, GA	3.0	2.5	1722	$2,200	$1.28	5d	1	0.49mi
6870 Old Bethsaida Way Riverdale, GA	4.0	2.5	1916	$1,973	$1.03	43d	1	0.49mi
2529 Wood Bend Ln Riverdale, GA	3.0	2.5	1508	$1,945	$1.29	43d	1	0.51mi
2590 South Hills Riverdale, GA	3.0	2.5	1850	$2,005	$1.08	12d	1	0.51mi
145 W Village Ct Riverdale, GA	3.0	2.5	1284	$1,865	$1.45	5d	1	0.54mi
2625 Carolina Rdg Riverdale, GA	4.0	2.5	1936	$2,125	$1.10	20d	1	0.56mi
336 Rocky Springs Ct Atlanta, GA	4.0	2.0	1900	$1,450	$0.76	24d	1	0.67mi
2405 Wood Bend Ln Riverdale, GA	3.0	2.5	1396	$1,800	$1.29	43d	1	0.69mi
6450 Peppermill Ln Atlanta, GA	4.0	2.0	1188	$1,531	$1.29	24d	1	0.80mi
3325 Valley Bend Rd Atlanta, GA	4.0	2.0	2000	$1,995	$1.00	5d	1	0.93mi
3325 Valley Bend Rd Atlanta, GA	4.0	2.0	2000	$1,995	$1.00	17d	1	0.93mi
3105 Garnet Way Atlanta, GA	3.0	2.0	1470	$1,660	$1.13	12d	1	0.94mi
3500 Keels Ln Atlanta, GA	3.0	2.0	1272	$1,755	$1.38	2d	1	0.94mi
6345 Peppermill Ln Atlanta, GA	3.0	2.5	1224	$1,800	$1.47	43d	1	0.98mi
6575 Smoke Ridge Dr Atlanta, GA	4.0	2.0	1808	$1,815	$1.00	43d	1	0.99mi
2328 Creel Rd Atlanta, GA	4.0	3.0	2100	$1,895	$0.90	43d	1	1.01mi
2667 Rocky Ct Atlanta, GA	3.0	2.5	1432	$2,200	$1.54	43d	1	1.03mi
6500 Connell Rd Atlanta, GA	3.0	2.0	1483	$1,650	$1.11	24d	1	1.03mi
6440 Connell Rd Atlanta, GA	3.0	2.0	1391	$1,695	$1.22	24d	1	1.10mi
6445 Connell Rd Atlanta, GA	3.0	2.0	1357	$1,856	$1.37	43d	1	1.11mi
855 Old Rocky Rd Atlanta, GA	3.0	2.0	1310	$1,710	$1.31	24d	1	1.12mi
2373 Bigwood Trl Atlanta, GA	3.0	2.5	1566	$1,845	$1.18	24d	1	1.14mi
325 Pointer Ct Atlanta, GA	3.0	2.0	1474	$1,620	$1.10	5d	1	1.15mi
2285 Bigwood Trl Atlanta, GA	3.0	2.5	1580	$1,740	$1.10	2d	1	1.18mi
6278 Rockaway Rd Atlanta, GA	3.0	2.5	1524	$2,000	$1.31	43d	1	1.19mi
6560 Emerald Pointe Cir Atlanta, GA	3.0	2.0	1309	$1,500	$1.15	22d	1	1.21mi
2310 Bigwood Trl Atlanta, GA	3.0	2.5	1580	$2,600	$1.65	24d	1	1.22mi
6368 Olmadison Pl Atlanta, GA	3.0	2.5	1428	$1,656	$1.16	11d	1	1.22mi
6370 Olmadison Pl Atlanta, GA	3.0	2.5	1440	$1,795	$1.25	43d	1	1.22mi
2560 Foxlair Trl Atlanta, GA	4.0	2.0	1485	$1,795	$1.21	24d	1	1.24mi
3800 Leisure Ln Atlanta, GA	3.0	2.0	1198	$2,350	$1.96	22d	1	1.27mi
3760 Cedar Hurst Way Atlanta, GA	4.0	2.5	1595	$2,150	$1.35	10d	1	1.30mi
6415 El Caudillo Ct Atlanta, GA	3.0	3.0	1498	$2,800	$1.87	4d	1	1.31mi

HOA detail

• Monthly dues: $17 · $204/yr

Listing history 39 events

1. 2026-06-18
   days on market $150,000 Active 237 DOM
2. 2026-06-17
   days on market $150,000 Active 236 DOM
3. 2026-06-16
   days on market $150,000 Active 235 DOM
4. 2026-06-15
   statusdays on market $150,000 Active 234 DOM
5. 2026-06-13
   statusdays on marketlisting id $150,000 Back On Market 232 DOM
6. 2026-05-12
   historical On Hold 416-char remark

   Show marketing remark (416 chars)

   Spacious 4-bedroom, 2-bathroom townhome conveniently located just 10 minutes from Hartsfield-Jackson Atlanta International Airport! Perfectly situated near shopping, dining, and entertainment, this home offers both comfort and convenience. Great for Frist-Time Home Buyers or Investor-Friendly Opportunity - NO HOA Rental Restrictions, making it an ideal addition to your rental portfolio or a great long-term home.

7. 2025-10-19
   listed $150,000 Active
8. 2025-10-18
   historical
9. 2025-09-25
   listed $150,000 New 416-char remark

   Show marketing remark (416 chars)

   Spacious 4-bedroom, 2-bathroom townhome conveniently located just 10 minutes from Hartsfield-Jackson Atlanta International Airport! Perfectly situated near shopping, dining, and entertainment, this home offers both comfort and convenience. Great for Frist-Time Home Buyers or Investor-Friendly Opportunity - NO HOA Rental Restrictions, making it an ideal addition to your rental portfolio or a great long-term home.

10. 2025-09-25
    historical

    Show marketing remark (416 chars)

    Spacious 4-bedroom, 2-bathroom townhome conveniently located just 10 minutes from Hartsfield-Jackson Atlanta International Airport! Perfectly situated near shopping, dining, and entertainment, this home offers both comfort and convenience. Great for Frist-Time Home Buyers or Investor-Friendly Opportunity - NO HOA Rental Restrictions, making it an ideal addition to your rental portfolio or a great long-term home.

11. 2025-05-19
    price $150,000
12. 2025-04-22
    price $164,999
13. 2025-03-04
    status Price Change
14. 2025-03-04
    price $174,999
15. 2025-03-03
    historical
16. 2024-12-03
    price $175,000
17. 2024-09-02
    listed $189,999 New
18. 2022-02-24
    soldstatus $140,000
19. 2022-02-22
    soldstatus $140,000 Closed
20. 2022-02-22
    soldstatus $140,000 Sold
21. 2022-01-21
    status Pending
22. 2022-01-21
    status Under Contract
23. 2021-12-29
    price $140,000
24. 2021-12-29
    price $140,000
25. 2021-12-26
    status Active
26. 2021-12-23
    historical
27. 2021-12-22
    status Active
28. 2021-11-05
    status Under Contract
29. 2021-10-29
    status Active
30. 2021-10-26
    status Under Contract
31. 2021-10-26
    status Pending
32. 2021-10-18
    price $150,000
33. 2021-10-18
    price $150,000
34. 2021-09-16
    status Back on Market
35. 2021-09-14
    status Active
36. 2021-08-19
    historical
37. 2021-08-16
    listed $130,000 New
38. 2021-08-14
    listed $130,000 Active
39. 2003-07-03
    soldstatus $79,000

ⓘ 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: $1,636 · $136/mo
• Projected year-2 tax: $1,636 · $136/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: $24,013
• − Mortgage interest: −$8,402
• − Property taxes: −$1,636
• − Insurance: −$750
• − Repairs & maintenance: −$1,921
• − Management: −$1,921
• − HOA: −$204
• − Depreciation: −$4,364
• Taxable income: $4,815
• Est. tax owed @ 24.0%: −$1,156
• After-tax cash flow: $5,786/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

+89.9% since first listed

34 events — show timeline

• 2026-05-12 Delisted — GAMLS
• 2025-10-19 Listed $150,000 FMLS
• 2025-10-18 Coming Soon — FMLS
• 2025-09-25 Listing Removed — GAMLS
• 2025-09-25 Listed $150,000 GAMLS
• 2025-05-19 Price Changed $150,000 GAMLS
• 2025-04-22 Price Changed $164,999 GAMLS
• 2025-03-04 Relisted — GAMLS
• 2025-03-04 Price Changed $174,999 GAMLS
• 2025-03-03 Listing Removed — GAMLS
• 2024-12-03 Price Changed $175,000 GAMLS
• 2024-09-02 Listed $189,999 GAMLS
• 2022-02-24 Sold (Public Records) $140,000 Public Records
• 2022-02-22 Sold (MLS) $140,000 GAMLS
• 2022-02-22 Sold (MLS) $140,000 FMLS
• 2022-01-21 Pending — FMLS
• 2022-01-21 Pending — GAMLS
• 2021-12-29 Price Changed $140,000 FMLS
• 2021-12-29 Price Changed $140,000 GAMLS
• 2021-12-26 Relisted — GAMLS
• 2021-12-23 Listing Removed — GAMLS
• 2021-12-22 Relisted — FMLS
• 2021-11-05 Pending — GAMLS
• 2021-10-29 Relisted — GAMLS
• 2021-10-26 Pending — GAMLS
• 2021-10-26 Pending — FMLS
• 2021-10-18 Price Changed $150,000 FMLS
• 2021-10-18 Price Changed $150,000 GAMLS
• 2021-09-16 Relisted — GAMLS
• 2021-09-14 Relisted — FMLS
• 2021-08-19 Listing Removed — GAMLS
• 2021-08-16 Listed $130,000 GAMLS
• 2021-08-14 Listed $130,000 FMLS
• 2003-07-03 Sold (Public Records) $79,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,636 · -4.7% YoY. Source: county tax records.