3565 Lee Pl · South Fulton, GA 30349

$180,000

3 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 23 Days on market

Built 1940 0.69 ac lot Est $241k · 25% under

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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 +20.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• 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

Investor special with endless potential! This 3-bedroom, 1-bath home is situated on a large, prime lot offering an outstanding opportunity for renovation, expansion, or new construction. The existing home features a functional layout and charming ranch-style character, making it an excellent option for a full remodel or rental investment. For builders and developers, the spacious lot provides the perfect setting for a custom new build in a desirable location. Rare opportunity for investors seeking redevelopment potential and strong upside value.

Key facts

• Large prime lot
• Functional layout
• Custom new build

Tags

• LARGE PRIME LOT
• FUNCTIONAL LAYOUT
• RANCH STYLE CHARACTER
• CUSTOM NEW BUILD
• REDEVELOPMENT POTENTIAL

Property features AI

Exterior

• Parking: Driveway; Open parking
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available; Phone available
• Home design: One-level home; Raised foundation; Lap siding exterior; Shingle roof; Resale condition
• Construction: Raised foundation
• Exterior features: Private yard; Rain gutters; Rear stairs; Rear porch and side porch; Back yard fencing; Shed(s)

Interior

• Kitchen: Cabinets; Laminate counters; Range hood
• Bedrooms: Three main-level bedrooms; Roommate floor plan
• Flooring: Carpet; Hardwood
• Bathrooms: One full bathroom with tub/shower combo (main level)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: One fireplace in the family room; Aluminum-framed windows with window treatments; Open-concept dining area; Other interior features
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/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: $177k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — 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.
• Zoned schools: Brookview Elementary School (math 10% / reading 10%, grade F, #1,076 of 1,228 statewide, top 89%, 416 students, 100% FRL); Banneker High School (math 24% / reading 75%, grade D+, #28 of 424 statewide, top 7%, 1,610 students, 100% FRL) — zoned schools average 100% FRL vs 41% district-wide (59 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 51% district-wide (-21 pts) — the specific schools serving this property underperform the Fulton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 656 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k 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 $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($177k) 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 $95k; list at $180k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $177,300 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.05% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $240,800
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 Green Mountain Trl	0.55mi	3/3.0	1,393 (-0%)	14mo	$240,000	$172	54
4770 Highpoint Way	0.63mi	3/2.5	1,513 (+8%)	6mo	$245,000	$162	46

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: 27.8%
• Equity multiple: 3.18×
• Total profit: $110,114
• Equity at exit: $162,158

10-year hold

• IRR: 23.7%
• Equity multiple: 7.05×
• Total profit: $304,720
• Equity at exit: $349,700

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 30349

• Home prices YoY: 4.6%
• Rents YoY: 0.9%
• Active inventory: 656
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,890 high
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $249

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 82%

Sensitivity live

Price	-10% $374	-5% $311	+0% $249	+5% $187	+10% $125
Rent	-10% $100	-5% $175	+0% $249	+5% $324	+10% $399
Rate	-1.0pp $340	-0.5pp $295	base $249	+0.5pp $203	+1.0pp $155

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 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3605 Las Olas Dr Atlanta, GA	3.0	2.0	1543	$1,786	$1.16	0d	1	0.09mi
3635 Las Olas Dr Atlanta, GA	3.0	2.5	1788	$1,599	$0.89	14d	1	0.14mi
3730 Las Olas Dr Atlanta, GA	3.0	2.5	1533	$2,100	$1.37	45d	1	0.31mi
3369 The Way Pl Atlanta, GA	3.0	2.5	1830	$2,395	$1.31	45d	1	0.40mi
3730 Will Lee Rd Atlanta, GA	3.0	2.0	1462	$1,939	$1.33	6d	1	0.46mi
4900 Delano Rd Atlanta, GA	1.0–3.0	1.0	915	$1,590	$1.74	45d	7	0.47mi
3740 Will Lee Rd Atlanta, GA	3.0	2.0	1542	$2,010	$1.30	20d	1	0.47mi
4709 Tradition Pkwy #2 Atlanta, GA	4.0	2.5	1868	$2,200	$1.18	45d	1	0.57mi
4761 Highpoint Way #139 Atlanta, GA	3.0	2.5	1670	$2,500	$1.50	6d	1	0.62mi
4683 Highpoint Way Atlanta, GA	3.0	2.5	1575	$1,885	$1.20	25d	1	0.67mi
4820 W Park Cir Atlanta, GA	3.0	2.5	1392	$1,649	$1.18	22d	1	0.71mi
4209 Legacy Sq Atlanta, GA	3.0	2.5	1520	$1,750	$1.15	45d	1	0.74mi
4555 Washington Rd Atlanta, GA	1.0–3.0	1.0–2.5	1145	$1,275	$1.11	0d	16	0.77mi
4680 Parkway Cir Atlanta, GA	3.0	2.5	1200	$2,100	$1.75	23d	1	0.79mi
4569 Parkway Cir Atlanta, GA	3.0	2.5	1622	$2,150	$1.33	45d	1	0.88mi
4561 Parkway Cir Atlanta, GA	3.0	2.5	1773	$1,950	$1.10	6d	1	0.91mi
4395 Washington Rd Atlanta, GA	1.0–3.0	1.0–2.5	959	$1,502	$1.57	45d	9	0.92mi
4550 Washington Rd Atlanta, GA	2.0	1.5	1350	$1,450	$1.07	45d	1	0.98mi
435 Skif Pond Ct Atlanta, GA	4.0	3.0	1567	$2,228	$1.42	0d	1	1.15mi
5100 Welcome All Rd SW Atlanta, GA	1.0–3.0	1.0–2.5	1057	$1,600	$1.51	6d	5	1.26mi
3509 Augusta St Atlanta, GA	3.0	2.5	1588	$2,006	$1.26	45d	1	1.31mi
4394 Stone Gate Way East Point, GA	3.0	2.5	1485	$1,645	$1.11	25d	1	1.32mi
4401 Stone Gate Way Atlanta, GA	3.0	2.5	1498	$1,750	$1.17	18d	1	1.33mi
4249 High Park Ln Atlanta, GA	3.0	2.5	1504	$1,650	$1.10	6d	1	1.37mi
— Atlanta, GA	3.0	2.5	1498	$1,750	$1.17	20d	1	1.38mi
2883 Windsor Forrest Ct Atlanta, GA	3.0	2.5	1115	$1,895	$1.70	3d	1	1.42mi
511 Highwood Ln Atlanta, GA	3.0	2.5	1198	$1,449	$1.21	25d	1	1.43mi
511 Highwood Ln Atlanta, GA	3.0	2.5	1198	$1,449	$1.21	45d	1	1.43mi
509 Highwood Ln Atlanta, GA	3.0	2.5	1166	$1,800	$1.54	6d	1	1.44mi
1414 Canopy Dr Unit 1 East Point, GA	3.0	2.5	1660	$3,000	$1.81	25d	1	1.45mi
806 Highwood Ln Atlanta, GA	3.0	2.5	1166	$1,700	$1.46	45d	1	1.45mi
1410 Canopy Dr Unit 1 East Point, GA	3.0	2.5	1600	$1,600	$1.00	14d	1	1.45mi
3110 Godby Rd Unit 15a College Park, GA	2.0	1.5	1062	$1,150	$1.08	4d	1	1.47mi
3110 Godby Rd Unit 5d College Park, GA	2.0	2.0	1016	$1,150	$1.13	3d	1	1.47mi
2835 Windsor Forrest Ct Atlanta, GA	3.0	2.5	1680	$1,881	$1.12	6d	1	1.48mi
3715 Clearwater Dr Atlanta, GA	4.0	2.0	1482	$4,400	$2.97	45d	1	1.48mi
3865 Morning Creek Dr Atlanta, GA	3.0	2.0	1134	$1,675	$1.48	45d	1	1.48mi
1110 Highwood Ln Atlanta, GA	3.0	2.5	1166	$1,940	$1.66	25d	1	1.49mi

Listing history 13 events

1. 2026-06-21
   days on market $180,000 Active 23 DOM
2. 2026-06-18
   days on market $180,000 Active 20 DOM
3. 2026-06-17
   days on market $180,000 Active 19 DOM
4. 2026-06-16
   days on market $180,000 Active 18 DOM
5. 2026-06-15
   days on market $180,000 Active 17 DOM
6. 2026-06-13
   days on market $180,000 Active 15 DOM
7. 2026-06-09
   days on market $180,000 Active 11 DOM
8. 2026-06-08
   days on market $180,000 Active 10 DOM
9. 2026-06-07
   days on market $180,000 Active 9 DOM
10. 2026-06-04
    days on market $180,000 Active 6 DOM
11. 2026-06-03
    days on market $180,000 Active 5 DOM
12. 2026-06-01
    days on market $180,000 Active 3 DOM
13. 2026-05-31
    days on market $180,000 Active 2 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,681
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$1,814
• − Management: −$1,814
• − Depreciation: −$5,236
• Taxable income: $133
• Est. tax owed @ 24.0%: −$32
• After-tax cash flow: $2,959/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

+89.5% since first listed

3 events — show timeline

• 2026-05-29 Listed $180,000 FMLS
• 2026-05-29 Listed $180,000 FMLS
• 2003-06-24 Sold (Public Records) $95,000 Public Records

Property tax history

-12.2%/yr

Latest (2025): $3 · -0.6% YoY. Source: county tax records.