11235 James Madison Dr · Bonanza, GA 30228

$235,000

3 bd · 2.0 ba · 1,518 sqft · SingleFamily public records · 28 Days on market

Built 2005 348 sqft lot $155/sqft · 12% below area Est $268k · 12% under $47/mo HOA · 2% 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).

• ARV discount +13.1/15.0
• Cash flow +10.2/30.0
• 1% rule +3.3/10.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

Key facts

• Functional peninsula
• Attached garage
• Walk-in closet

Tags

• MATCHING BLACK APPLIANCES
• FUNCTIONAL PENINSULA
• WALK-IN SHOWER
• WALK-IN CLOSET
• ATTACHED GARAGE
• PATIO

Property features AI

Finance

• HOA & community: Annual association fee of $560 covering grounds maintenance

Exterior

• Parking: Garage (1 garage space); Room for a total of 4 vehicles
• Utilities: Public water; Public sewer; Satellite dish
• Home design: Two levels; Resale property
• Construction: Composition roof; Slab foundation; Built with vinyl siding
• Exterior features: Vinyl siding; Other exterior features

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher; Stained cabinets with laminate countertops
• Bedrooms: Three upper-level bedrooms; Oversized master bedroom
• Flooring: Carpet; Luxury vinyl
• Bathrooms: Two full bathrooms; One half bathroom (main level); Master bath with separate tub and shower
• Heating & cooling: Central air conditioning
• Interior features: One fireplace located in the family room; Open-concept dining area; Bonus room and family room; No shared/common walls; Other interior features
• Laundry & utility: Laundry area located in hall

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (10.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (16.9% below list).
• Recommended offer: $195k (16.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#314 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, schools F, amenities F.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.2%/yr); 547 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 865 units permitted in Clayton County in 2024 (448 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.
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y 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.
• Current owner paid $138k; list at $235k implies a 70% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,332 (16.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.83% ✗
• Cap rate: 5.62%
• Cash-on-cash: -2.42%
• DSCR: 0.89
• GRM: 10.0

CMA / ARV

• ARV (median comp): $268,192
• List price: $235,000
• Delta: -12.38%
• 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
11139 Silver Aspen Ct	0.35mi	3/2.0	1,464 (-4%)	8mo	$210,000	$143	72
11203 Knotty Pine Pl	0.42mi	3/2.0	1,444 (-5%)	1mo	$195,000	$135	71
11224 Aliyah Dr	0.03mi	3/2.5	1,719 (+13%)	5mo	$250,000	$145	70
11120 Tara Glynn Dr	0.48mi	3/2.0	1,459 (-4%)	3mo	$249,000	$171	69
1623 Elizabeth Ln	0.49mi	3/2.0	1,392 (-8%)	3mo	$213,000	$153	61
11045 Knotty Pine Pl	0.51mi	3/2.0	1,410 (-7%)	6mo	$183,000	$130	59
11171 Knotty Pine Pl	0.42mi	3/2.0	1,338 (-12%)	4mo	$235,000	$176	58
11581 Kades Trl	0.71mi	3/2.0	1,456 (-4%)	7mo	$249,000	$171	54
10959 Thrasher Rd	0.63mi	3/2.0	1,395 (-8%)	3mo	$205,000	$147	54
1684 Lovejoy Rd	0.63mi	3/2.0	1,688 (+11%)	5mo	$255,000	$151	48
1741 Portwest Way	0.71mi	3/2.0	1,374 (-10%)	6mo	$250,000	$182	46
1652 Thorn Ridge Trl	0.67mi	3/2.0	1,360 (-10%)	7mo	$201,000	$148	46

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 · 2.2% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.27×
• Total profit: $-48,024
• Equity at exit: $35,039

10-year hold

• IRR: -16.7%
• Equity multiple: 0.11×
• Total profit: $-58,744
• Equity at exit: $20,319

Cash invested: $65,800 (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 30228

• Home prices YoY: -24.3%
• Rents YoY: 2.2%
• Active inventory: 547
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,953 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$298 /mo · $3,581/yr
• Insurance: −$98
• HOA: −$47
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $-133

Break-even live

Break-even rent $2,121

Max offer price $211,575

Occupancy floor —

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11248 James Madison Dr Hampton, GA	3.0	2.5	1986	$1,980	$1.00	11d	1	0.01mi
11236 James Madison Dr Hampton, GA	3.0	2.5	1518	$1,870	$1.23	44d	1	0.02mi
1578 Onalee Dr Hampton, GA	3.0	2.5	1709	$1,800	$1.05	24d	1	0.20mi
1562 Onalee Dr Hampton, GA	3.0	2.0	2125	$1,800	$0.85	44d	1	0.20mi
1562 Onalee Dr Hampton, GA	3.0	2.5	2125	$1,775	$0.84	19d	1	0.20mi
11015 Tara Blvd Lovejoy, GA	1.0–3.0	1.0–2.0	1113	$1,815	$1.63	44d	1	0.33mi
1902 Grove Way Lovejoy, GA	3.0	2.5	1592	$1,555	$0.98	4d	1	0.42mi
11035 Shannon Cir Hampton, GA	3.0	2.0	1320	$1,606	$1.22	13d	1	0.43mi
1992 Lovejoy Rd Lovejoy, GA	1.0–3.0	1.0–2.0	1085	$1,902	$1.75	2d	25	0.45mi
1863 Grove Way Lovejoy, GA	3.0	2.5	1592	$1,660	$1.04	24d	1	0.45mi
2019 Grove Way Lovejoy, GA	3.0	2.5	1524	$1,395	$0.92	44d	1	0.46mi
1781 Fielding Way Lovejoy, GA	3.0	2.5	1370	$1,545	$1.13	44d	1	0.51mi
10911 Tara Blvd Lovejoy, GA	1.0–3.0	1.0–2.0	1150	$1,795	$1.56	44d	1	0.55mi
11517 Haleigh St Lovejoy, GA	3.0	3.0	2228	$2,000	$0.90	44d	1	0.57mi
1591 Elizabeth Ln Hampton, GA	3.0	2.0	1352	$1,591	$1.18	44d	1	0.58mi
2355 Brianna Dr Lovejoy, GA	3.0	2.5	1876	$1,476	$0.79	13d	1	0.63mi
1906 Dalton Way Lovejoy, GA	3.0	3.0	2228	$2,100	$0.94	44d	1	0.63mi
2361 Brianna Dr Lovejoy, GA	3.0	2.5	1384	$1,525	$1.10	22d	1	0.64mi
2306 Nicole Dr Lovejoy, GA	3.0	2.5	1324	$1,800	$1.36	44d	1	0.65mi
2367 Brianna Dr Lovejoy, GA	3.0	2.5	1440	$1,695	$1.18	44d	1	0.65mi
11531 Kimberly Way Lovejoy, GA	3.0	2.5	1579	$2,200	$1.39	4d	1	0.66mi
11522 Kimberly Way Lovejoy, GA	3.0	2.5	1700	$2,200	$1.29	4d	1	0.66mi
2275 Nicole Dr Lovejoy, GA	4.0	2.0	1800	$1,835	$1.02	5d	1	0.67mi
1652 Thorn Ridge Trl Hampton, GA	3.0	2.0	1360	$1,960	$1.44	44d	1	0.69mi
2251 Nicole Dr #119 Hampton, GA	3.0	2.5	1324	$1,700	$1.28	24d	1	0.70mi
11352 Michelle Way Lovejoy, GA	3.0	2.5	1440	$1,485	$1.03	13d	1	0.71mi
2411 Brianna Dr Lovejoy, GA	3.0	2.0	1432	$1,826	$1.28	3d	1	0.72mi
11540 Alicias Ct Lovejoy, GA	3.0	2.5	1876	$1,711	$0.91	5d	1	0.72mi
2051 Registry Ct Lovejoy, GA	4.0	3.0	2188	$1,940	$0.89	44d	1	0.75mi
10887 Tara Blvd Hampton, GA	3.0	2.5	1756	$2,032	$1.16	4d	10	0.75mi
11523 Vinea Ln Lovejoy, GA	3.0	2.0	1557	$1,850	$1.19	44d	1	0.76mi
11866 Registry Blvd Unit 1 Hampton, GA	3.0	2.0	1488	$1,650	$1.11	24d	1	0.77mi
10903 Thrasher Rd Hampton, GA	3.0	2.0	1412	$1,725	$1.22	22d	1	0.78mi
10784 Knotty Pine Pl Hampton, GA	3.0	2.0	1329	$1,795	$1.35	44d	1	0.78mi
2257 Sugarleaf Trl Lovejoy, GA	3.0	2.0	1624	$1,775	$1.09	44d	1	0.81mi
2056 Registry Pl Lovejoy, GA	3.0	2.0	1488	$1,825	$1.23	44d	1	0.82mi
11664 Flemming Ct Lovejoy, GA	3.0	2.5	2025	$2,060	$1.02	5d	1	0.83mi
11649 Mendenhall Ct Hampton, GA	3.0	2.5	1568	$2,300	$1.47	21d	1	0.86mi
11116 Shadow Creek Ter Hampton, GA	3.0	2.5	2195	$2,035	$0.93	13d	1	0.87mi
11560 Winston Dr Lovejoy, GA	3.0	3.0	1710	$2,710	$1.58	44d	1	0.90mi

HOA detail

• Monthly dues: $47 · $564/yr

Listing history 30 events

1. 2026-06-09
   days on market $235,000 Active 28 DOM
2. 2026-06-08
   days on market $235,000 Active 27 DOM
3. 2026-06-07
   days on market $235,000 Active 26 DOM
4. 2026-06-04
   days on market $235,000 Active 23 DOM
5. 2026-06-03
   days on market $235,000 Active 22 DOM
6. 2026-06-02
   days on market $235,000 Active 21 DOM
7. 2026-06-01
   days on market $235,000 Active 20 DOM
8. 2026-05-31
   days on market $235,000 Active 19 DOM
9. 2026-05-12
   listed $235,000 New 950-char remark
10. 2026-05-12
    listed $235,000 Active 950-char remark
11. 2024-04-27
    historical $1,695
12. 2024-04-13
    listed $1,695
13. 2024-04-07
    historical $1,745
14. 2024-04-03
    listed $1,745
15. 2024-03-17
    historical $1,745
16. 2024-03-02
    listed $1,745
17. 2020-07-14
    soldstatus $138,500
18. 2020-07-10
    soldstatus $138,500 Closed

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

19. 2020-07-10
    soldstatus $138,500 Sold

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

20. 2020-06-10
    status Pending

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

21. 2020-05-28
    status Under Contract

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

22. 2020-05-28
    historical Active Under Contract

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

23. 2020-05-21
    price $159,900

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

24. 2020-05-21
    price $159,900

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

25. 2020-04-07
    price $165,000

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

26. 2020-04-07
    price $165,000

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

27. 2020-03-30
    price $167,000

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

28. 2020-03-30
    price $167,000

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

29. 2020-02-25
    listed $169,500 Active

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

30. 2020-02-25
    listed $169,500 New

    Show marketing remark (103 chars)

    New Paint inside out, new carpet. Seller never live in the house. No seller disclose and selling as is.

ⓘ 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: $3,581 · $298/mo
• Projected year-2 tax: $3,581 · $298/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 6/10 Major 7 d/yr ≥105°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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,440
• − Mortgage interest: −$13,164
• − Property taxes: −$3,581
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − HOA: −$564
• − Depreciation: −$6,836
• Taxable loss: −$5,631
• Est. tax savings @ 24.0%: +$1,351
• After-tax cash flow: $-240/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: Clayton County
• NCES district ID: 1301230
• Math proficiency: 11% ▼ -13.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $42,266
• Composite: 13.41/100
• National rank: #9527
• State rank: #155 of 174 in GA

Livability — Bonanza

• Score: 62/100
• State rank: #314
• US rank: #16994

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonanza, GA
• County: Henry County · 316,359 people
• City population: 606
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 52,402
• Household income: $82,619
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 1285.0

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 310,777 people
• By 2030: 329,762 · +6.1%
• By 2040: 368,052 · +18.4%
• By 2050: 401,196 · +29.1%
• By 2075: 472,488 · +52.0%
• By 2100: 500,446 · +61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (63%)
• Race & ethnicity: Black 63% White 23% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Hispanic 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 89% English-only · Spanish 6% French/Haitian/Cajun 2% Vietnamese 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid D (+69.2) · D 84.3% · R 15.1%
• 2008→2024 swing: +2.8pp toward D · 2008: 66.4pp · 2024: 69.2pp
• All cycles: 2024: D+69.2 2020: D+70.9 2016: D+71.9 2012: D+70.1 2008: D+66.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.11%
• Current HPI: 222.0357
• Rent YoY: ▲ 2.20%
• 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

+38.6% since first listed

24 events — show timeline

• 2026-06-12 Listing Removed — FMLS
• 2026-06-12 Listing Removed — GAMLS
• 2026-05-12 Listed $235,000 FMLS
• 2026-05-12 Listed $235,000 GAMLS
• 2024-04-27 Rental Removed $1,695 RENTLY
• 2024-04-13 Listed for Rent $1,695 RENTLY
• 2024-04-07 Rental Removed $1,745 RENTLY
• 2024-04-03 Listed for Rent $1,745 RENTLY
• 2024-03-17 Rental Removed $1,745 RENTLY
• 2024-03-02 Listed for Rent $1,745 RENTLY
• 2020-07-14 Sold (Public Records) $138,500 Public Records
• 2020-07-10 Sold (MLS) $138,500 GAMLS
• 2020-07-10 Sold (MLS) $138,500 FMLS
• 2020-06-10 Pending — FMLS
• 2020-05-28 Pending — GAMLS
• 2020-05-28 Contingent — FMLS
• 2020-05-21 Price Changed $159,900 GAMLS
• 2020-05-21 Price Changed $159,900 FMLS
• 2020-04-07 Price Changed $165,000 GAMLS
• 2020-04-07 Price Changed $165,000 FMLS
• 2020-03-30 Price Changed $167,000 GAMLS
• 2020-03-30 Price Changed $167,000 FMLS
• 2020-02-25 Listed $169,500 GAMLS
• 2020-02-25 Listed $169,500 FMLS

Property tax history

+7.0%/yr

Latest (2025): $3,581 · +15.1% YoY. Source: county tax records.