2635 Picardy Cir S Unit B · South Fulton, GA 30349

$199,000

2 bd · 2.5 ba · 1,280 sqft · Townhouse public records · 16 Days on market

Built 1986 3,820 sqft lot

---

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 +17.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Schools +4.5/10.0
• 1% rule +3.4/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Whether you're searching for your next home or your next investment property- this one delivers. Completely remodeled and move-in ready, this 2-bedroom, 2.5 bath home in College Park delivers the kind of value that is getting harder to find near Atlanta. With over 1,200 square feet across the main and upper levels, plus a basement (approx 500 sqft) for added flexibility, you'll have the space you need without the renovation headaches. From the moment you walk in, you'll notice the fresh, updated feel throughout. The main living area flows easily into the kitchen/dining space, creating a comfortable setup for everyday living or entertaining. Upstairs, you'll find 2 well-sized bedrooms, both having its own private bathroom and walk-in closet. The basement is a standout feature- already stubbed for a bathroom- perfect for extra storage, a workout area, media room, or future finished space to add even more value. Located just minutes from Hartsfield-Jackson Atlanta International Airport, Camp Creek Marketplace, dining, and major interstates, this home offers unbeatable convenience for commuters, airline professionals, and anyone wanting quick access to everything Atlanta has to offer- without the Atlanta price tag. If you've been searching for a fully updated home with space, functionality, and an affordable price point, this one checks all the boxes.

Key facts

• Move-in ready
• Remodeled
• Walk-in closet

Tags

• REMODELED
• MOVE-IN READY
• BASEMENT STUBBED FOR BATHROOM
• PRIVATE BATHROOM
• WALK-IN CLOSET
• MINUTES FROM AIRPORT

Property features AI

Finance

• Financial info: Single-unit community

Exterior

• Parking: Parking pad (1 space)
• Utilities: Public water; Public sewer; Cable available; Electricity available; Underground utilities; Water available
• Home design: Three or more levels; Entry includes exterior entry to basement
• Construction: Composition roof; Construction materials: Other; Basement: Full, unfinished daylight basement with interior and exterior entry; bath stubbed
• Exterior features: Balcony; Deck; Updated/remodeled condition

Interior

• Kitchen: Dishwasher; Microwave; Range hood; Refrigerator; Pantry
• Bedrooms: Two upstairs bedrooms; Roommate floor plan and split bedroom layout
• Flooring: Carpet; Tile
• Bathrooms: Two full bathrooms; One half bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: High-speed internet available; Walk-in closet(s); Double-pane windows; Gas log fireplace; No shared/common walls
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $199k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (16.4% below list).
• Recommended offer: $166k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.6% in South Fulton — 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: area grade C — 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.
• Market conditions: Rents flat; 651 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; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k 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 $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($196k) 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.

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 $166,333 (16.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.84% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.18%
• DSCR: 1.14
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $125,440
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5680 Hampton Ct	0.17mi	2/2.5	1,296 (+1%)	12mo	$200,000	$154	80
2560 Picardy Cir N Unit A	0.07mi	3/2.5 (+1)	1,426 (+11%)	3mo	$140,000	$98	71
1310 Camelot Dr #1310	0.34mi	3/2.0 (+1)	1,282 (+0%)	12mo	$45,500	$35	67
5485 Hampton Ct	0.26mi	2/2.5	1,196 (-7%)	17mo	$180,000	$151	63
2555 Flat Shoals Rd #1405	0.48mi	2/2.5	1,430 (+12%)	12mo	$219,000	$153	48
1016 Camelot Dr	0.38mi	3/2.0 (+1)	1,449 (+13%)	6mo	$13,000	$9	48
1014 Camelot Dr	0.38mi	3/2.0 (+1)	1,449 (+13%)	22mo	$70,000	$48	35

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: 25.9%
• Equity multiple: 3.05×
• Total profit: $114,321
• Equity at exit: $179,275

10-year hold

• IRR: 22.3%
• Equity multiple: 6.79×
• Total profit: $322,788
• Equity at exit: $386,613

Cash invested: $55,720 (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: 651
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,663 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$40 /mo · $478/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $148

Break-even live

Break-even rent $1,476

Max offer price $199,000

Occupancy floor 86%

Sensitivity live

Price	-10% $260	-5% $204	+0% $148	+5% $91	+10% $35
Rent	-10% $16	-5% $82	+0% $148	+5% $213	+10% $279
Rate	-1.0pp $248	-0.5pp $198	base $148	+0.5pp $96	+1.0pp $44

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5690 Hampton Ct Atlanta, GA	2.0	3.0	1184	$1,495	$1.26	44d	1	0.19mi
2565 Lantern Ln Atlanta, GA	1.0	1.0	1522	$634	$0.42	2d	1	0.23mi
5460 Hampton Ct Atlanta, GA	2.0	3.5	1554	$1,500	$0.97	44d	1	0.28mi
6056 Carriage Ct Atlanta, GA	3.0	2.0	1400	$1,599	$1.14	6d	1	0.37mi
2555 Flat Shoals Rd #404 College Park, GA	3.0	2.5	1408	$1,700	$1.21	25d	1	0.41mi
2555 Flat Shoals Rd #3005 Atlanta, GA	3.0	2.5	1724	$1,850	$1.07	6d	1	0.41mi
2555 Flat Shoals Rd #401 Atlanta, GA	3.0	2.5	1550	$2,050	$1.32	44d	1	0.48mi
2500 Pleasant Hill Rd Atlanta, GA	2.0–3.0	1.5–2.5	1405	$1,149	$0.82	25d	2	0.54mi
5410 Twin Lakes Dr Atlanta, GA	3.0	2.0	1277	$2,040	$1.60	44d	1	0.57mi
5645 Deerfield Trl Atlanta, GA	3.0	1.5	1496	$1,495	$1.00	22d	1	0.63mi
6090 Emerald Pointe Cir Atlanta, GA	3.0	2.0	1200	$1,875	$1.56	19d	1	0.69mi
320 Emerald Green Ct Atlanta, GA	3.0	2.0	1575	$2,050	$1.30	44d	1	0.69mi
5625 Montilly Cir Atlanta, GA	1.0	1.0	1000	$1,350	$1.35	44d	1	0.76mi
6230 Cedar Wood Dr Atlanta, GA	3.0	2.0	1238	$1,694	$1.37	44d	1	0.76mi
2890 Jerome Rd Atlanta, GA	3.0	1.5	1229	$1,761	$1.43	44d	1	0.79mi
6027 Oak Bend Ct Riverdale, GA	3.0	2.5	1530	$2,070	$1.35	6d	1	0.81mi
6560 Emerald Pointe Cir Atlanta, GA	3.0	2.0	1309	$1,500	$1.15	22d	1	0.81mi
2300 Flat Shoals Rd Unit 2 Riverdale, GA	2.0	3.0	1000	$1,425	$1.43	25d	1	0.82mi
6048 Oak Bend Ct Riverdale, GA	3.0	2.5	1500	$1,750	$1.17	22d	1	0.86mi
6278 Rockaway Rd Atlanta, GA	3.0	2.5	1524	$2,000	$1.31	44d	1	0.90mi
5515 Scofield Rd Atlanta, GA	3.0	2.0	1109	$1,788	$1.61	11d	1	0.90mi
855 Old Rocky Rd Atlanta, GA	3.0	2.0	1310	$1,710	$1.31	25d	1	0.91mi
5370 Longmeadow Ln Atlanta, GA	3.0	2.0	1248	$1,600	$1.28	17d	1	0.92mi
6078 Oak Bend Ct Riverdale, GA	3.0	2.5	1622	$1,800	$1.11	25d	1	0.92mi
395 Fox Trail Dr Atlanta, GA	3.0	2.0	1400	$1,980	$1.41	12d	1	1.01mi
2592 Rocky Ct Atlanta, GA	2.0	2.5	1424	$2,000	$1.40	44d	1	1.02mi
2667 Rocky Ct Atlanta, GA	3.0	2.5	1432	$2,200	$1.54	44d	1	1.04mi
5866 Summerglen Ln Atlanta, GA	3.0	2.0	1400	$1,450	$1.04	44d	1	1.08mi
5442 Scofield Rd Atlanta, GA	3.0	1.5	1368	$1,775	$1.30	44d	1	1.08mi
3105 Garnet Way Atlanta, GA	3.0	2.0	1470	$1,660	$1.13	13d	1	1.09mi
5730 N Castlegate Dr Unit A Atlanta, GA	2.0	2.5	1125	$1,395	$1.24	44d	1	1.10mi
2710 Dunmoreland Ter Atlanta, GA	3.0	1.0	1198	$1,540	$1.29	44d	1	1.12mi
5750 Buffington Rd Atlanta, GA	1.0–3.0	1.0–2.0	1142	$1,458	$1.28	2d	19	1.15mi
6345 Peppermill Ln Atlanta, GA	3.0	2.5	1224	$1,800	$1.47	44d	1	1.15mi
2036 Laboon Cir Unit C Atlanta, GA	1.0	1.0	1000	$1,100	$1.10	6d	1	1.16mi
5867 Sheldon Ct Atlanta, GA	1.0	1.0	1244	$825	$0.66	45d	1	1.16mi
6165 Radford Dr Riverdale, GA	3.0	2.0	1232	$1,695	$1.38	6d	1	1.20mi
6165 Radford Dr Riverdale, GA	3.0	2.0	1232	$1,750	$1.42	22d	1	1.20mi
6165 Radford Dr Riverdale, GA	3.0	2.0	1232	$1,799	$1.46	44d	1	1.20mi
6165 Radford Dr Riverdale, GA	3.0	2.0	1232	$1,799	$1.46	25d	1	1.20mi

Listing history 10 events

1. 2026-06-13
   statusdays on market $199,000 Pending 16 DOM
2. 2026-06-09
   days on market $199,000 Active 13 DOM
3. 2026-06-08
   days on market $199,000 Active 12 DOM
4. 2026-06-07
   days on market $199,000 Active 11 DOM
5. 2026-06-04
   days on market $199,000 Active 8 DOM
6. 2026-06-03
   days on market $199,000 Active 7 DOM
7. 2026-06-01
   days on market $199,000 Active 5 DOM
8. 2026-05-31
   days on market $199,000 Active 4 DOM
9. 2026-05-27
   listed $199,000 New 1372-char remark

   Show marketing remark (1372 chars)

   Whether you're searching for your next home or your next investment property- this one delivers. Completely remodeled and move-in ready, this 2-bedroom, 2.5 bath home in College Park delivers the kind of value that is getting harder to find near Atlanta. With over 1,200 square feet across the main and upper levels, plus a basement (approx 500 sqft) for added flexibility, you'll have the space you need without the renovation headaches. From the moment you walk in, you'll notice the fresh, updated feel throughout. The main living area flows easily into the kitchen/dining space, creating a comfortable setup for everyday living or entertaining. Upstairs, you'll find 2 well-sized bedrooms, both having its own private bathroom and walk-in closet. The basement is a standout feature- already stubbed for a bathroom- perfect for extra storage, a workout area, media room, or future finished space to add even more value. Located just minutes from Hartsfield-Jackson Atlanta International Airport, Camp Creek Marketplace, dining, and major interstates, this home offers unbeatable convenience for commuters, airline professionals, and anyone wanting quick access to everything Atlanta has to offer- without the Atlanta price tag. If you've been searching for a fully updated home with space, functionality, and an affordable price point, this one checks all the boxes.

10. 2026-05-27
    listed $199,000 Active

    Show marketing remark (1372 chars)

    Whether you're searching for your next home or your next investment property- this one delivers. Completely remodeled and move-in ready, this 2-bedroom, 2.5 bath home in College Park delivers the kind of value that is getting harder to find near Atlanta. With over 1,200 square feet across the main and upper levels, plus a basement (approx 500 sqft) for added flexibility, you'll have the space you need without the renovation headaches. From the moment you walk in, you'll notice the fresh, updated feel throughout. The main living area flows easily into the kitchen/dining space, creating a comfortable setup for everyday living or entertaining. Upstairs, you'll find 2 well-sized bedrooms, both having its own private bathroom and walk-in closet. The basement is a standout feature- already stubbed for a bathroom- perfect for extra storage, a workout area, media room, or future finished space to add even more value. Located just minutes from Hartsfield-Jackson Atlanta International Airport, Camp Creek Marketplace, dining, and major interstates, this home offers unbeatable convenience for commuters, airline professionals, and anyone wanting quick access to everything Atlanta has to offer- without the Atlanta price tag. If you've been searching for a fully updated home with space, functionality, and an affordable price point, this one checks all the boxes.

ⓘ 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: $478 · $40/mo
• Projected year-2 tax: $1,831 · $153/mo
• Expected delta: +$1,353/yr (+$113/mo · 282.8%)

ⓘ 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 5/10 Major 7 d/yr ≥105°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 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,960
• − Mortgage interest: −$11,147
• − Property taxes: −$478
• − Insurance: −$995
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$5,789
• Taxable loss: −$1,643
• Est. tax savings @ 24.0%: +$394
• After-tax cash flow: $2,167/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

+0.0% since first listed

2 events — show timeline

• 2026-05-27 Listed $199,000 FMLS
• 2026-05-27 Listed $199,000 GAMLS

Property tax history

-2.1%/yr

Latest (2025): $478 · +4.2% YoY. Source: county tax records.