3534 Boulder Park Dr SW · Atlanta, GA 30331

$155,900

2 bd · 2.0 ba · 1,514 sqft · SingleFamily public records · 260 Days on market

Built 1940 0.47 ac lot $103/sqft · 49% below area Est $307k · 49% under ↓ 2% since listing

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Why this score? — see what drove the B 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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special!! Great for any investor looking to expand their portfolio or looking for a great project to hold for passive income. Sitting on .46 Acres of land 14 min from Downtown Atlanta and a 14 min from Hartsfield -Jackson International Airport. More than capable of expansion with a semi daylight basement. Real Fixer Upper (NO FHA)! PRICE IS NEGOTIABLE, HOWEVER NO BLIND OR LOW-BALL OFFERS, house is priced based on an appraisal done on it in its current condition. Great Location. Preferred closing with Lueder, Larkin & Hunter law firm - Latina Bryan.

Key facts

• Expansion potential
• 0.47 acre lot
• Built 1940

Tags

• 14 MIN FROM DOWNTOWN ATLANTA
• SEMI DAYLIGHT BASEMENT
• EXPANSION POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $156k.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $156k).
• Recommended offer: $137k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.1% in Atlanta — 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 (#6 in GA, #919 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, cost of living C-.
• Atlanta Public Schools (urban): math 28% / reading 35% proficiency, ranked #80 of 174 in GA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 483 active listings in the ZIP; 35 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 ($63k/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.
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $44k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,192 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.25% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.56%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (median comp): $306,858
• List price: $155,900
• Delta: -49.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
225 Fairburn Rd SW	0.30mi	2/2.0	1,686 (+11%)	2mo	$80,000	$47	65
198 Howell Dr SW	0.20mi	3/2.0 (+1)	1,450 (-4%)	23mo	$260,000	$179	60
3729 Wisteria Ln SW	0.35mi	3/1.0 (+1)	1,450 (-4%)	12mo	$143,000	$99	58
132 Brownlee Rd SW	0.29mi	3/2.0 (+1)	1,320 (-13%)	3mo	$176,000	$133	57
187 Howell Dr SW	0.25mi	3/2.0 (+1)	1,392 (-8%)	20mo	$243,000	$175	54
220 Harwell Rd NW	0.73mi	3/2.0 (+1)	1,421 (-6%)	6mo	$193,000	$136	46
580 Morrow Ln SW	0.47mi	3/2.5 (+1)	1,740 (+15%)	4mo	$340,000	$195	43
3966 Kenner Dr	0.60mi	3/2.0 (+1)	1,432 (-5%)	21mo	$250,000	$175	40
3888 Boulder Park Dr SW	0.71mi	3/2.5 (+1)	1,650 (+9%)	7mo	$380,000	$230	39
4023 Kenner Dr SW	0.67mi	3/2.0 (+1)	1,389 (-8%)	16mo	$248,000	$179	37

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.07×
• Total profit: $3,143
• Equity at exit: $23,245

10-year hold

• IRR: 11.1%
• Equity multiple: 1.86×
• Total profit: $37,389
• Equity at exit: $13,479

Cash invested: $43,652 (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 30331

• Home prices YoY: -34.2%
• Rents YoY: 2.6%
• Active inventory: 483
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,942 high
• Mortgage (P&I): −$818
• Tax est. 1.5%: −$195 /mo · $2,338/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $457

Break-even live

Break-even rent $1,364

Max offer price $155,900

Occupancy floor 71%

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: $38,975
• Closing costs: $4,677
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
832 Ambient Way SW Atlanta, GA	2.0	2.5	1500	$2,250	$1.50	24d	1	0.24mi
841 Ambient Way SW Atlanta, GA	2.0	2.5	1344	$1,895	$1.41	16d	1	0.24mi
887 Ambient Way SW Atlanta, GA	2.0	2.5	1344	$2,250	$1.67	24d	1	0.29mi
897 Ambient Way SW Atlanta, GA	2.0	2.5	1500	$2,155	$1.44	24d	1	0.30mi
722 Crestwell Cir #722 Atlanta, GA	2.0	3.0	1440	$2,279	$1.58	20d	1	0.34mi
708 Crestwell Cir SW Atlanta, GA	2.0	2.5	1236	$1,645	$1.33	24d	1	0.34mi
755 Crestwell Cir SW Atlanta, GA	2.0	2.5	1546	$1,800	$1.16	24d	1	0.34mi
95 Howell Dr SW Atlanta, GA	3.0	2.5	1840	$1,840	$1.00	14d	1	0.39mi
87 Howell Dr SW Atlanta, GA	3.0	2.5	1840	$2,700	$1.47	24d	1	0.40mi
648 Providence Pl SW #37 Atlanta, GA	3.0	3.5	1416	$2,195	$1.55	24d	1	0.53mi
3354 Delmar Ln NW Atlanta, GA	3.0	2.0	1170	$1,700	$1.45	24d	1	0.54mi
658 Providence Pl SW Atlanta, GA	3.0	3.5	1571	$2,100	$1.34	24d	1	0.55mi
513 Constellation Overlook SW Atlanta, GA	3.0	2.5	1446	$2,300	$1.59	24d	1	0.56mi
3230 Cushman Cir SW Atlanta, GA	2.0	1.0	1143	$1,200	$1.05	7d	1	0.58mi
778 Nehemiah Ln SW Atlanta, GA	2.0	2.5	1576	$1,950	$1.24	24d	1	0.61mi
586 Oakside Dr SW Unit A Atlanta, GA	3.0	1.0	1075	$1,325	$1.23	15d	1	0.63mi
586 Oakside Dr SW Unit B Atlanta, GA	2.0	1.0	1075	$1,065	$0.99	15d	1	0.63mi
415 Fairburn Rd SW Atlanta, GA	1.0–3.0	1.0–2.0	890	$1,258	$1.41	1d	31	0.71mi
3188 Delmar Ln NW Atlanta, GA	3.0	2.0	1124	$2,400	$2.14	24d	1	0.76mi
3311 Rabun Dr SW Atlanta, GA	3.0	2.0	1523	$2,350	$1.54	24d	1	0.80mi
3915 Basil Way SW Atlanta, GA	3.0	2.0	1287	$2,600	$2.02	24d	1	0.82mi
3616 Utoy Dr SW Atlanta, GA	3.0	3.5	1496	$1,950	$1.30	43d	1	0.85mi
3051 Delmar Ln NW Atlanta, GA	3.0	2.0	1971	$2,500	$1.27	24d	1	1.00mi
494 Plainville Dr SW Atlanta, GA	3.0	2.0	1567	$2,400	$1.53	24d	1	1.05mi
110 Candlelight Ln SW Atlanta, GA	1.0	1.0	1300	$634	$0.49	16d	1	1.11mi
40 Candlelight Ln SW Unit A Atlanta, GA	2.0	2.0	1098	$1,500	$1.37	24d	1	1.14mi
40 Candlelight Ln SW Apt B Atlanta, GA	3.0	3.0	1274	$1,800	$1.41	24d	1	1.14mi
470 Bolton Rd NW Unit D1 Atlanta, GA	2.0	1.5	1100	$1,395	$1.27	24d	1	1.24mi
451 Fairlock Ln NW Atlanta, GA	3.0	1.0	1141	$1,450	$1.27	24d	1	1.24mi
3039 Lynn Dr SW Atlanta, GA	3.0	2.0	1756	$2,300	$1.31	24d	1	1.30mi
751 Fairburn Rd SW Atlanta, GA	1.0–3.0	1.0–2.0	1162	$1,766	$1.52	3d	32	1.32mi
2875 Hedgewood Dr NW Atlanta, GA	3.0	2.0	1100	$1,700	$1.55	16d	1	1.33mi
871 Laurelmont Dr SW Atlanta, GA	3.0	2.0	1210	$2,000	$1.65	24d	1	1.37mi
3606 Ginnis Dr SW #8 Atlanta, GA	2.0	2.5	1224	$1,411	$1.15	7d	1	1.37mi
460 Peyton Rd SW Unit B Atlanta, GA	2.0	2.0	1500	$2,000	$1.33	24d	1	1.47mi

Listing history 28 events

1. 2026-06-18
   days on market $155,900 Active 260 DOM
2. 2026-06-17
   days on market $155,900 Active 259 DOM
3. 2026-06-16
   days on market $155,900 Active 258 DOM
4. 2026-06-15
   days on market $155,900 Active 257 DOM
5. 2026-06-13
   days on market $155,900 Active 255 DOM
6. 2026-06-13
   days on market $155,900 Active 254 DOM
7. 2026-06-09
   days on market $155,900 Active 251 DOM
8. 2026-06-08
   days on market $155,900 Active 250 DOM
9. 2026-06-07
   days on market $155,900 Active 249 DOM
10. 2026-06-04
    days on market $155,900 Active 246 DOM
11. 2026-06-03
    days on market $155,900 Active 245 DOM
12. 2026-06-02
    days on market $155,900 Active 244 DOM
13. 2026-06-01
    days on market $155,900 Active 243 DOM
14. 2026-05-31
    days on market $155,900 Active 242 DOM
15. 2025-10-27
    price $155,900 567-char remark

    Show marketing remark (567 chars)

    Investor Special!! Great for any investor looking to expand their portfolio or looking for a great project to hold for passive income. Sitting on .46 Acres of land 14 min from Downtown Atlanta and a 14 min from Hartsfield -Jackson International Airport. More than capable of expansion with a semi daylight basement. Real Fixer Upper (NO FHA)! PRICE IS NEGOTIABLE, HOWEVER NO BLIND OR LOW-BALL OFFERS, house is priced based on an appraisal done on it in its current condition. Great Location. Preferred closing with Lueder, Larkin & Hunter law firm - Latina Bryan.

16. 2025-10-27
    price $155,900 567-char remark

    Show marketing remark (567 chars)

    Investor Special!! Great for any investor looking to expand their portfolio or looking for a great project to hold for passive income. Sitting on .46 Acres of land 14 min from Downtown Atlanta and a 14 min from Hartsfield -Jackson International Airport. More than capable of expansion with a semi daylight basement. Real Fixer Upper (NO FHA)! PRICE IS NEGOTIABLE, HOWEVER NO BLIND OR LOW-BALL OFFERS, house is priced based on an appraisal done on it in its current condition. Great Location. Preferred closing with Lueder, Larkin & Hunter law firm - Latina Bryan.

17. 2025-09-27
    listed $160,000 New 567-char remark

    Show marketing remark (567 chars)

    Investor Special!! Great for any investor looking to expand their portfolio or looking for a great project to hold for passive income. Sitting on .46 Acres of land 14 min from Downtown Atlanta and a 14 min from Hartsfield -Jackson International Airport. More than capable of expansion with a semi daylight basement. Real Fixer Upper (NO FHA)! PRICE IS NEGOTIABLE, HOWEVER NO BLIND OR LOW-BALL OFFERS, house is priced based on an appraisal done on it in its current condition. Great Location. Preferred closing with Lueder, Larkin & Hunter law firm - Latina Bryan.

18. 2025-09-27
    listed $160,000 Active 567-char remark

    Show marketing remark (567 chars)

    Investor Special!! Great for any investor looking to expand their portfolio or looking for a great project to hold for passive income. Sitting on .46 Acres of land 14 min from Downtown Atlanta and a 14 min from Hartsfield -Jackson International Airport. More than capable of expansion with a semi daylight basement. Real Fixer Upper (NO FHA)! PRICE IS NEGOTIABLE, HOWEVER NO BLIND OR LOW-BALL OFFERS, house is priced based on an appraisal done on it in its current condition. Great Location. Preferred closing with Lueder, Larkin & Hunter law firm - Latina Bryan.

19. 2025-04-10
    historical
20. 2025-03-24
    historical
21. 2025-03-01
    status Active
22. 2024-10-10
    status Back On Market
23. 2024-09-12
    status Active
24. 2024-08-21
    status Pending
25. 2024-08-20
    status Under Contract
26. 2024-08-20
    historical Active Under Contract
27. 2024-06-23
    listed $159,500 New
28. 2024-06-23
    listed $159,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,305
• − Mortgage interest: −$8,733
• − Property taxes: −$2,338
• − Insurance: −$780
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − Depreciation: −$4,535
• Taxable income: $3,190
• Est. tax owed @ 24.0%: −$766
• After-tax cash flow: $4,717/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: Atlanta Public Schools
• NCES district ID: 1300120
• Math proficiency: 28% ▼ -6.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $48,306
• Composite: 27.27/100
• National rank: #7006
• State rank: #80 of 174 in GA

Livability — Atlanta

• Score: 83/100
• State rank: #6
• US rank: #919

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlanta, GA
• County: Fulton County · 1,094,430 people
• City population: 629,525
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,567
• Household income: $62,623
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 3748.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Hispanic 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 1% 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: ▼ -106.38%
• Current HPI: 204.5402
• Rent YoY: ▲ 2.63%
• 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

-2.3% since first listed

14 events — show timeline

• 2025-10-27 Price Changed $155,900 FMLS
• 2025-10-27 Price Changed $155,900 GAMLS
• 2025-09-27 Listed $160,000 FMLS
• 2025-09-27 Listed $160,000 GAMLS
• 2025-04-10 Listing Removed — GAMLS
• 2025-03-24 Listing Removed — FMLS
• 2025-03-01 Relisted — FMLS
• 2024-10-10 Relisted — GAMLS
• 2024-09-12 Relisted — FMLS
• 2024-08-21 Pending — FMLS
• 2024-08-20 Pending — GAMLS
• 2024-08-20 Contingent — FMLS
• 2024-06-23 Listed $159,500 FMLS
• 2024-06-23 Listed $159,500 GAMLS

Property tax history

-2.0%/yr

Latest (2025): $24 · -54.8% YoY. Source: county tax records.