7703 Fawn Cir · Covington, GA 30014

$180,000

3 bd · 2.5 ba · 1,737 sqft · SingleFamily public records · 194 Days on market

Built 2020 871 sqft lot $104/sqft · 29% below area Est $255k · 29% under $165/mo HOA · 8% of rent

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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 +19.0/30.0
• ARV discount +15.0/15.0
• 1% rule +6.2/10.0
• DSCR +6.0/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover a townhome that draws you in from the moment you arrive. It offers 3 bedrooms, 2.5 baths, and a layout designed for easy everyday living. The main level offers open gathering spaces, with well-arranged rooms that transition naturally from living to dining to kitchen. Upstairs, all bedrooms are grouped for convenience, including a spacious main bedroom with its own bath. Outside, enjoy two assigned parking spaces and a low-maintenance yard area. Positioned close to Turner Lake Park, Chimney Park, Covington Square, and shops along Highway 278, with quick access to I-20. Don't miss the chance, book your showing today.

Key facts

• Low maintenance yard
• Quick access to i-20
• $165 HOA

Tags

• OPEN GATHERING SPACES
• LOW MAINTENANCE YARD
• ASSIGNED PARKING SPACES
• CLOSE TO TURNER LAKE PARK
• QUICK ACCESS TO I-20

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.8% in Covington — 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 59/100 on livability (#396 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety B+; Watch: schools F, crime F, amenities 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.
• Market conditions: Rents flat; 486 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).
• This rent runs 34% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 194 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $59k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 194 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. 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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.12% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.46%
• DSCR: 1.20
• GRM: 7.4

CMA / ARV

• ARV (median comp): $254,605
• List price: $180,000
• Delta: -29.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Winged Foot Way	0.13mi	3/2.0	1,796 (+3%)	0mo	$288,550	$161	86
85 Bellerive Ln SE	0.19mi	3/2.0	1,660 (-4%)	3mo	$269,900	$163	79
140 Bellerive Ln	0.16mi	3/2.0	1,680 (-3%)	7mo	$279,000	$166	79
45 Brookline Pkwy	0.16mi	3/2.0	1,757 (+1%)	14mo	$273,500	$156	77
110 Baltusrol Way	0.15mi	3/2.0	1,680 (-3%)	11mo	$285,000	$170	76
35 Knollwood Pl	0.34mi	3/2.0	1,778 (+2%)	12mo	$279,000	$157	68
20 Knollwood Pl	0.30mi	3/2.0	1,832 (+6%)	10mo	$325,000	$177	66
115 Dearing Woods Way	0.36mi	4/2.5 (+1)	1,904 (+10%)	11mo	$290,000	$152	53
10148 Malcolm Dr	0.51mi	3/2.0	1,864 (+7%)	11mo	$350,000	$188	53
55 Vintage Dr	0.47mi	3/2.0	1,531 (-12%)	15mo	$295,000	$193	44
75 Woodfield Rd	0.63mi	3/2.0	1,512 (-13%)	6mo	$269,900	$179	42
9204 Malcolm Dr	0.58mi	3/2.0	1,535 (-12%)	14mo	$313,500	$204	40

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 · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.56×
• Total profit: $-22,027
• Equity at exit: $26,839

10-year hold

• IRR: -8.1%
• Equity multiple: 0.55×
• Total profit: $-22,485
• Equity at exit: $15,563

Cash invested: $50,400 (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 30014

• Home prices YoY: -19.2%
• Rents YoY: 0.5%
• Active inventory: 486
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,018 high
• Mortgage (P&I): −$944
• Tax from tax record: −$223 /mo · $2,679/yr
• Insurance: −$75
• HOA: −$165
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $187

Break-even live

Break-even rent $1,781

Max offer price $180,000

Occupancy floor 86%

Sensitivity live

Price	-10% $289	-5% $238	+0% $187	+5% $136	+10% $85
Rent	-10% $28	-5% $107	+0% $187	+5% $267	+10% $347
Rate	-1.0pp $278	-0.5pp $233	base $187	+0.5pp $141	+1.0pp $93

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7731 Fawn Cir Covington, GA	3.0	2.5	1737	$2,400	$1.38	45d	1	0.01mi
40 Dearing Woods Bnd Covington, GA	3.0	2.0	1372	$900	$0.66	12d	1	0.53mi
10 Dearing Cv Covington, GA	3.0	2.5	1461	$1,845	$1.26	3d	1	0.54mi
185 Vintage Dr Covington, GA	3.0	2.0	1644	$1,800	$1.09	45d	1	0.60mi
25 Wexford Way Covington, GA	4.0	2.5	2008	$2,000	$1.00	18d	1	0.81mi
10 Fernhill Ct Covington, GA	3.0	2.0	1372	$900	$0.66	16d	1	0.83mi
10 Fernhill Ct Covington, GA	3.0	2.5	1690	$1,715	$1.01	14d	1	0.83mi
60 Camden Pl Covington, GA	4.0	2.0	1520	$1,869	$1.23	25d	1	0.85mi
20 Carver Dr Covington, GA	3.0	2.0	1400	$1,695	$1.21	45d	1	1.03mi
45 Deadwood Ln Covington, GA	3.0	2.0	1460	$1,835	$1.26	45d	1	1.14mi
11071 Suria Dr Covington, GA	4.0	2.5	1948	$2,200	$1.13	45d	1	1.22mi
11067 Suria Dr Covington, GA	4.0	2.5	1983	$2,200	$1.11	45d	1	1.22mi
9123 Jefferson Village Dr SW Covington, GA	3.0	2.0	1220	$1,750	$1.43	23d	1	1.28mi
9135 Jefferson Village Dr SW Covington, GA	3.0	2.5	1126	$1,736	$1.54	6d	1	1.29mi
6103 Oakwood Cir SW Covington, GA	3.0	2.0	1372	$900	$0.66	18d	1	1.37mi
8246 Collier St SW Covington, GA	3.0	1.0	1225	$1,300	$1.06	45d	1	1.45mi

HOA detail

• Monthly dues: $165 · $1,980/yr
• Likely covers: parking

Listing history 28 events

1. 2026-06-21
   status $180,000 Under Contract 194 DOM
2. 2026-06-18
   days on market $180,000 Active 194 DOM
3. 2026-06-17
   days on market $180,000 Active 193 DOM
4. 2026-06-16
   days on market $180,000 Active 192 DOM
5. 2026-06-15
   days on market $180,000 Active 191 DOM
6. 2026-06-13
   days on market $180,000 Active 189 DOM
7. 2026-06-13
   days on market $180,000 Active 188 DOM
8. 2026-06-09
   days on market $180,000 Active 185 DOM
9. 2026-06-08
   days on market $180,000 Active 184 DOM
10. 2026-06-07
    days on market $180,000 Active 183 DOM
11. 2026-06-04
    days on market $180,000 Active 180 DOM
12. 2026-06-03
    days on market $180,000 Active 179 DOM
13. 2026-06-02
    days on market $180,000 Active 178 DOM
14. 2026-06-01
    days on market $180,000 Active 177 DOM
15. 2026-05-31
    days on market $180,000 Active 176 DOM
16. 2026-05-20
    status Back On Market 631-char remark

    Show marketing remark (631 chars)

    Discover a townhome that draws you in from the moment you arrive. It offers 3 bedrooms, 2.5 baths, and a layout designed for easy everyday living. The main level offers open gathering spaces, with well-arranged rooms that transition naturally from living to dining to kitchen. Upstairs, all bedrooms are grouped for convenience, including a spacious main bedroom with its own bath. Outside, enjoy two assigned parking spaces and a low-maintenance yard area. Positioned close to Turner Lake Park, Chimney Park, Covington Square, and shops along Highway 278, with quick access to I-20. Don't miss the chance, book your showing today.

17. 2026-05-09
    status Under Contract 631-char remark

    Show marketing remark (631 chars)

    Discover a townhome that draws you in from the moment you arrive. It offers 3 bedrooms, 2.5 baths, and a layout designed for easy everyday living. The main level offers open gathering spaces, with well-arranged rooms that transition naturally from living to dining to kitchen. Upstairs, all bedrooms are grouped for convenience, including a spacious main bedroom with its own bath. Outside, enjoy two assigned parking spaces and a low-maintenance yard area. Positioned close to Turner Lake Park, Chimney Park, Covington Square, and shops along Highway 278, with quick access to I-20. Don't miss the chance, book your showing today.

18. 2026-04-14
    price $180,000 631-char remark

    Show marketing remark (631 chars)

    Discover a townhome that draws you in from the moment you arrive. It offers 3 bedrooms, 2.5 baths, and a layout designed for easy everyday living. The main level offers open gathering spaces, with well-arranged rooms that transition naturally from living to dining to kitchen. Upstairs, all bedrooms are grouped for convenience, including a spacious main bedroom with its own bath. Outside, enjoy two assigned parking spaces and a low-maintenance yard area. Positioned close to Turner Lake Park, Chimney Park, Covington Square, and shops along Highway 278, with quick access to I-20. Don't miss the chance, book your showing today.

19. 2026-02-05
    price $225,000 631-char remark

    Show marketing remark (631 chars)

    Discover a townhome that draws you in from the moment you arrive. It offers 3 bedrooms, 2.5 baths, and a layout designed for easy everyday living. The main level offers open gathering spaces, with well-arranged rooms that transition naturally from living to dining to kitchen. Upstairs, all bedrooms are grouped for convenience, including a spacious main bedroom with its own bath. Outside, enjoy two assigned parking spaces and a low-maintenance yard area. Positioned close to Turner Lake Park, Chimney Park, Covington Square, and shops along Highway 278, with quick access to I-20. Don't miss the chance, book your showing today.

20. 2025-11-25
    listed $239,000 New 631-char remark

    Show marketing remark (631 chars)

    Discover a townhome that draws you in from the moment you arrive. It offers 3 bedrooms, 2.5 baths, and a layout designed for easy everyday living. The main level offers open gathering spaces, with well-arranged rooms that transition naturally from living to dining to kitchen. Upstairs, all bedrooms are grouped for convenience, including a spacious main bedroom with its own bath. Outside, enjoy two assigned parking spaces and a low-maintenance yard area. Positioned close to Turner Lake Park, Chimney Park, Covington Square, and shops along Highway 278, with quick access to I-20. Don't miss the chance, book your showing today.

21. 2025-07-02
    status Under Contract
22. 2025-07-02
    historical
23. 2025-05-19
    status Back On Market
24. 2025-05-03
    status Under Contract
25. 2025-05-01
    price $235,000
26. 2025-04-12
    price $260,000
27. 2025-03-31
    listed $285,000 New
28. 2020-02-10
    soldstatus $1,144,000

ⓘ 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: $2,679 · $223/mo
• Projected year-2 tax: $2,679 · $223/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 19 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,219
• − Mortgage interest: −$10,083
• − Property taxes: −$2,679
• − Insurance: −$900
• − Repairs & maintenance: −$1,938
• − Management: −$1,938
• − HOA: −$1,980
• − Depreciation: −$5,236
• Taxable loss: −$534
• Est. tax savings @ 24.0%: +$128
• After-tax cash flow: $2,375/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 — Covington

• Score: 59/100
• State rank: #396
• US rank: #19602

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Newton County · 104,393 people
• City population: 104,393
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 41,425
• Household income: $72,254
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1934.0

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 0.59)
• Race & ethnicity: White 53% Black 35% Hispanic / Latino 7% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 7% · Canada
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 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: ▼ -64.50%
• Current HPI: 270.9868
• Rent YoY: ▲ 0.52%
• 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

-84.3% since first listed

13 events — show timeline

• 2026-05-20 Relisted — GAMLS
• 2026-05-09 Pending — GAMLS
• 2026-04-14 Price Changed $180,000 GAMLS
• 2026-02-05 Price Changed $225,000 GAMLS
• 2025-11-25 Listed $239,000 GAMLS
• 2025-07-02 Pending — GAMLS
• 2025-07-02 Listing Removed — GAMLS
• 2025-05-19 Relisted — GAMLS
• 2025-05-03 Pending — GAMLS
• 2025-05-01 Price Changed $235,000 GAMLS
• 2025-04-12 Price Changed $260,000 GAMLS
• 2025-03-31 Listed $285,000 GAMLS
• 2020-02-10 Sold (Public Records) $1,144,000 Public Records

Property tax history

+85.6%/yr

Latest (2025): $2,679 · +2.1% YoY. Source: county tax records.