205 Lazy Hollow Ln · Porterdale, GA 30016

$240,000

3 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 22 Days on market

Built 1991 0.60 ac lot $208/sqft · 7% below area Est $259k · 7% under

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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 +13.1/30.0
• ARV discount +10.8/15.0
• DSCR +3.9/10.0
• 1% rule +3.0/10.0
• Rent growth +3.0/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fresh, updated, and move-in ready-this beautifully RENOVATED RANCH in Covington checks all the boxes! Updated inside and out, the home features fresh paint and brand-flooring throughout, creating a clean, modern feel from the moment you walk in. The kitchen and bathrooms have been upgraded with stylish new granite countertops, offering both durability and a polished finish. Enjoy cooking with a gas stove, perfect for those who love precision and performance in the kitchen. A brand-new furnace provides peace of mind and energy efficiency for the seasons ahead. Step outside to a fully fenced backyard-ideal for pets, play, or relaxing evenings in your own private space. If you're looking for low-maintenance living, and NO HOA, with thoughtful updates already done for you this Covington ranch is ready to welcome you home!

Key facts

• Renovated ranch
• Gas stove
• Updated kitchen

Tags

• RENOVATED RANCH
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• GAS STOVE
• FULLY FENCED BACKYARD
• NO HOA

Property features AI

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Utilities: Public water; Septic tank sewer; Cable available; Natural gas available
• Home design: One-level home; Updated / remodeled; Fee simple ownership; Slab foundation
• Construction: Wood siding construction; Composition roof
• Exterior features: Front porch; Back yard fenced with chain link

Interior

• Kitchen: Country-style kitchen; Solid surface countertops; Dishwasher
• Bedrooms: Master on main; Split bedroom plan; 3 bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; Master bath with tub/shower combo; 2 bathrooms on the main level
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: High-speed internet; Wood window frames; No shared/common walls
• Laundry & utility: Laundry located in the kitchen; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-11 ($-129/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (19.9% below list).
• Recommended offer: $192k (19.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 5.0% in Porterdale — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 58/100 on livability (#447 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+, housing B; Watch: amenities F, commute F, employment F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: South Salem Elementary School (math 8% / reading 15%, grade F, #1,069 of 1,228 statewide, top 87%, 852 students, 85% FRL); Alcovy High School (math 3% / reading 12%, grade F, #378 of 424 statewide, top 91%, 1,991 students, 55% FRL).
• Zoned-school proficiency averages 10% at this address vs 22% district-wide (-12 pts) — the specific schools serving this property underperform the Newton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.8%/yr); 448 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($236k) 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 $117k; list at $240k implies a 105% 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 $192,189 (19.9% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.80% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.19%
• DSCR: 0.99
• GRM: 10.4

CMA / ARV

• ARV (median comp): $258,825
• List price: $240,000
• Delta: -7.27%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
365 Cowan Rd	0.26mi	3/2.0	1,190 (+3%)	14mo	$216,000	$182	71
255 Countryside Ln	0.33mi	3/2.0	1,270 (+10%)	1mo	$226,000	$178	67
120 Lazy Hollow Ln	0.16mi	3/2.0	1,294 (+12%)	8mo	$249,900	$193	66
215 Cowan Rd	0.47mi	3/2.0	1,234 (+7%)	4mo	$250,000	$203	63
115 Branchwood Dr	0.56mi	3/2.0	1,235 (+7%)	3mo	$235,000	$190	59
375 Branchwood Dr	0.49mi	3/2.0	1,274 (+11%)	1mo	$227,500	$179	59
260 Countryside Ln	0.32mi	3/2.0	1,278 (+11%)	11mo	$246,000	$192	57
420 Cowan Rd	0.20mi	3/2.0	1,285 (+12%)	17mo	$242,900	$189	57
684 Mills Dr	0.59mi	3/2.0	1,313 (+14%)	1mo	$295,000	$225	49
145 Mills Lndg	0.61mi	3/2.0	1,307 (+14%)	1mo	$252,900	$193	48
615 Mills Dr	0.49mi	3/2.0	1,266 (+10%)	19mo	$215,000	$170	45
800 Mills Dr	0.66mi	3/2.0	1,319 (+14%)	2mo	$204,900	$155	44

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 · 1.84% rent growth · sell at horizon

5-year hold

• IRR: -17.9%
• Equity multiple: 0.38×
• Total profit: $-41,842
• Equity at exit: $35,785

10-year hold

• IRR: -12.3%
• Equity multiple: 0.31×
• Total profit: $-46,410
• Equity at exit: $20,751

Cash invested: $67,200 (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 30016

• Home prices YoY: -8.6%
• Rents YoY: 1.8%
• Active inventory: 448
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,922 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$170 /mo · $2,045/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $-11

Break-even live

Break-even rent $1,935

Max offer price $238,105

Occupancy floor 96%

Sensitivity live

Price	-10% $125	-5% $57	+0% $-11	+5% $-79	+10% $-147
Rent	-10% $-163	-5% $-87	+0% $-11	+5% $65	+10% $141
Rate	-1.0pp $110	-0.5pp $50	base $-11	+0.5pp $-73	+1.0pp $-136

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Lazy Hollow Ln Covington, GA	3.0	2.0	1348	$1,805	$1.34	25d	1	0.10mi
90 Lazy Hollow Ln Covington, GA	3.0	2.0	1294	$1,761	$1.36	14d	1	0.21mi
115 Autumn Cv Covington, GA	3.0	2.0	1500	$1,850	$1.23	0d	1	0.36mi
155 Creekside Trl Covington, GA	3.0	2.0	1394	$1,730	$1.24	0d	1	0.43mi
705 Mills Dr Covington, GA	3.0	2.0	1196	$1,641	$1.37	45d	1	0.52mi
55 Creekstone Ct Covington, GA	3.0	2.0	1350	$1,775	$1.31	14d	1	0.63mi
150 Lakeside Dr Covington, GA	4.0	3.0	1264	$2,060	$1.63	3d	1	1.17mi
200 Falcon Ridge Dr Covington, GA	3.0	2.0	1409	$1,845	$1.31	0d	1	1.19mi
20 Glynn Isle Dr Covington, GA	3.0	2.0	1401	$1,877	$1.34	19d	1	1.19mi
195 Falcon Ridge Dr Covington, GA	3.0	2.0	1319	$1,819	$1.38	5d	1	1.23mi
65 White Oak Dr Covington, GA	4.0	2.0	1269	$1,810	$1.43	25d	1	1.31mi
300 Claremont Dr Covington, GA	3.0	2.0	1398	$1,895	$1.36	6d	1	1.32mi
305 Skipjack Ct Covington, GA	3.0	3.0	1463	$1,695	$1.16	45d	1	1.43mi

Listing history 6 events

1. 2026-05-09
   price $240,000 829-char remark

   Show marketing remark (829 chars)

   Fresh, updated, and move-in ready-this beautifully RENOVATED RANCH in Covington checks all the boxes! Updated inside and out, the home features fresh paint and brand-flooring throughout, creating a clean, modern feel from the moment you walk in. The kitchen and bathrooms have been upgraded with stylish new granite countertops, offering both durability and a polished finish. Enjoy cooking with a gas stove, perfect for those who love precision and performance in the kitchen. A brand-new furnace provides peace of mind and energy efficiency for the seasons ahead. Step outside to a fully fenced backyard-ideal for pets, play, or relaxing evenings in your own private space. If you're looking for low-maintenance living, and NO HOA, with thoughtful updates already done for you this Covington ranch is ready to welcome you home!

2. 2026-05-09
   price $240,000 829-char remark

   Show marketing remark (829 chars)

   Fresh, updated, and move-in ready-this beautifully RENOVATED RANCH in Covington checks all the boxes! Updated inside and out, the home features fresh paint and brand-flooring throughout, creating a clean, modern feel from the moment you walk in. The kitchen and bathrooms have been upgraded with stylish new granite countertops, offering both durability and a polished finish. Enjoy cooking with a gas stove, perfect for those who love precision and performance in the kitchen. A brand-new furnace provides peace of mind and energy efficiency for the seasons ahead. Step outside to a fully fenced backyard-ideal for pets, play, or relaxing evenings in your own private space. If you're looking for low-maintenance living, and NO HOA, with thoughtful updates already done for you this Covington ranch is ready to welcome you home!

3. 2026-04-26
   listed $250,000 New 829-char remark

   Show marketing remark (829 chars)

   Fresh, updated, and move-in ready-this beautifully RENOVATED RANCH in Covington checks all the boxes! Updated inside and out, the home features fresh paint and brand-flooring throughout, creating a clean, modern feel from the moment you walk in. The kitchen and bathrooms have been upgraded with stylish new granite countertops, offering both durability and a polished finish. Enjoy cooking with a gas stove, perfect for those who love precision and performance in the kitchen. A brand-new furnace provides peace of mind and energy efficiency for the seasons ahead. Step outside to a fully fenced backyard-ideal for pets, play, or relaxing evenings in your own private space. If you're looking for low-maintenance living, and NO HOA, with thoughtful updates already done for you this Covington ranch is ready to welcome you home!

4. 2026-04-26
   listed $250,000 Active 829-char remark

   Show marketing remark (829 chars)

   Fresh, updated, and move-in ready-this beautifully RENOVATED RANCH in Covington checks all the boxes! Updated inside and out, the home features fresh paint and brand-flooring throughout, creating a clean, modern feel from the moment you walk in. The kitchen and bathrooms have been upgraded with stylish new granite countertops, offering both durability and a polished finish. Enjoy cooking with a gas stove, perfect for those who love precision and performance in the kitchen. A brand-new furnace provides peace of mind and energy efficiency for the seasons ahead. Step outside to a fully fenced backyard-ideal for pets, play, or relaxing evenings in your own private space. If you're looking for low-maintenance living, and NO HOA, with thoughtful updates already done for you this Covington ranch is ready to welcome you home!

5. 2018-08-10
   soldstatus $117,000
6. 2002-05-16
   soldstatus $100,600

ⓘ 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: $2,045 · $170/mo
• Projected year-2 tax: $2,208 · $184/mo
• Expected delta: +$163/yr (+$14/mo · 8.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,063
• − Mortgage interest: −$13,444
• − Property taxes: −$2,045
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − Depreciation: −$6,982
• Taxable loss: −$4,298
• Est. tax savings @ 24.0%: +$1,032
• After-tax cash flow: $903/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: Newton County
• NCES district ID: 1303930
• Math proficiency: 17% ▼ -13.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $50,768
• Composite: 19.2/100
• National rank: #8816
• State rank: #137 of 174 in GA

Livability — Porterdale

• Score: 58/100
• State rank: #447
• US rank: #21362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Newton County · 104,393 people
• City population: 76
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,968
• Household income: $79,527
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 1172.0

Population outlook (Newton County) Hauer SSP2

• Today (2025): 118,372 people
• By 2030: 124,234 · +5.0%
• By 2040: 135,550 · +14.5%
• By 2050: 145,309 · +22.8%
• By 2075: 166,843 · +40.9%
• By 2100: 175,800 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Newton

• 2024 margin: D (+15.1) · D 57.3% · R 42.2%
• 2008→2024 swing: +14.0pp toward D · 2008: 1.2pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+10.9 2016: D+2.4 2012: D+2.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.68%
• Current HPI: 317.5605
• Rent YoY: ▲ 1.84%
• 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

+138.6% since first listed

8 events — show timeline

• 2026-05-19 Pending — FMLS
• 2026-05-19 Pending — GAMLS
• 2026-05-09 Price Changed $240,000 FMLS
• 2026-05-09 Price Changed $240,000 GAMLS
• 2026-04-26 Listed $250,000 GAMLS
• 2026-04-26 Listed $250,000 FMLS
• 2018-08-10 Sold (Public Records) $117,000 Public Records
• 2002-05-16 Sold (Public Records) $100,600 Public Records

Property tax history

+4.9%/yr

Latest (2025): $2,045 · +4.3% YoY. Source: county tax records.