115 Norton Dr SW · South Fulton, GA 30331

$359,000

5 bd · 3.5 ba · 3,039 sqft · SingleFamily public records · 41 Days on market

Built 2005 0.31 ac lot $118/sqft · 15% below area Est $423k · 15% under

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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 +14.3/15.0
• Cash flow +8.5/30.0
• Schools +4.5/10.0
• Rent growth +3.2/5.0
• 1% rule +2.9/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 5-bedroom, 3-bath single-family home in the Brittany Park community offering 3,039 square feet of well-designed living space. This two-story home features multiple living and dining areas, providing flexibility for everyday living, entertaining, or working from home. The main level includes a bright living room with a fireplace, a separate dining area, and a large kitchen with stainless steel appliances, ample cabinet storage, and an island for additional prep space. The home offers a mix of hardwood-style flooring on the main level and carpeted bedrooms upstairs, including a spacious primary suite with tray ceilings, a walk-in closet, and an en-suite bath with double vanities, a s

Key facts

• Large kitchen
• 0.31 acre lot
• 2 garage spots

Tags

• MULTIPLE LIVING AREAS
• LARGE KITCHEN
• STAINLESS STEEL APPLIANCES
• AMPLE CABINET STORAGE
• ISLAND FOR PREP SPACE
• HARDWOOD-STYLE FLOORING

Property features AI

Finance

• Other: Directions: GPS
• HOA & community: Property is part of an association

Exterior

• Parking: Detached or attached garage with 2 garage spaces; Driveway parking; Open parking available
• Utilities: Public water; Public sewer; Electric service (other)
• Home design: Two levels; Resale property
• Construction: Other construction materials; Other roof; Slab foundation; Built as part of Brittany Park Phase 1
• Exterior features: Concrete road frontage; City street access; Other exterior structures

Interior

• Kitchen: Breakfast bar; Kitchen island; Additional cabinets; Dishwasher; Gas range; Microwave; Range hood; Refrigerator
• Bedrooms: Five upper-level bedrooms; Bedroom features: Other
• Flooring: Wood flooring
• Bathrooms: Three full bathrooms; One main-level bathroom; Two upper-level full bathrooms; Master bathroom with double vanity and separate tub and shower
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Electric fireplace; Shutters; No shared/common walls; Other interior features
• Laundry & utility: Washer and dryer included; Laundry closet

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $359k.

Deal economics

• At list price, monthly cash flow is $-316 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (15.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (21.2% below list).
• Recommended offer: $283k (21.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — 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: Amana Academy School (math 47% / reading 52%, grade D, #264 of 1,228 statewide, top 23%, 731 students, 30% FRL, charter); Sandtown Middle School (math 24% / reading 35%, grade F, #249 of 470 statewide, top 55%, 1,057 students, 57% FRL); Westlake High School (math 27% / reading 5%, grade F, #287 of 424 statewide, top 68%, 2,461 students, 43% FRL) — zoned schools at 43% FRL track the district average.
• Zoned-school proficiency averages 32% at this address vs 51% district-wide (-19 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 rising (+2.6%/yr); 485 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $2,830/mo this rent would consume 54% of the median local household income ($63k/yr) (locally 3748% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($348k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% 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 $283,023 (21.2% 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. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.79% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.77%
• DSCR: 0.83
• GRM: 10.6

CMA / ARV

• ARV (median comp): $422,942
• List price: $359,000
• Delta: -15.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6266 Shell Dr	0.28mi	5/3.0	3,024 (-0%)	0mo	$400,000	$132	84
6253 Selborn Dr SW	0.10mi	5/3.0	2,891 (-5%)	6mo	$374,000	$129	80
6260 Selborn Dr SW	0.10mi	5/3.0	2,935 (-3%)	12mo	$374,000	$127	78
6268 Selborn Dr SW	0.11mi	5/3.5	3,120 (+3%)	19mo	$370,000	$119	75
6317 Selborn Dr SW	0.29mi	4/2.5 (-1)	2,888 (-5%)	11mo	$380,000	$132	60
2808 Brookford Ln SW	0.67mi	5/3.0	3,152 (+4%)	4mo	$415,000	$132	58
6330 Shell Dr SW	0.27mi	4/2.5 (-1)	2,720 (-10%)	12mo	$350,000	$129	51
6010 Canaan Woods Dr	0.67mi	4/3.0 (-1)	2,873 (-6%)	12mo	$505,000	$176	42
6478 Stonelake Pl SW	0.59mi	5/3.0	2,584 (-15%)	18mo	$299,900	$116	30

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: -23.0%
• Equity multiple: 0.21×
• Total profit: $-79,260
• Equity at exit: $53,528

10-year hold

• IRR: -18.5%
• Equity multiple: 0.02×
• Total profit: $-98,854
• Equity at exit: $31,040

Cash invested: $100,520 (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: 485
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,830 high
• Mortgage (P&I): −$1,883
• Tax from tax record: −$520 /mo · $6,235/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $-316

Break-even live

Break-even rent $3,230

Max offer price $303,187

Occupancy floor —

Sensitivity live

Price	-10% $-113	-5% $-214	+0% $-316	+5% $-418	+10% $-519
Rent	-10% $-540	-5% $-428	+0% $-316	+5% $-204	+10% $-92
Rate	-1.0pp $-135	-0.5pp $-225	base $-316	+0.5pp $-409	+1.0pp $-504

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6237 Selborn Dr SW Atlanta, GA	5.0	3.0	2970	$2,660	$0.90	26d	1	0.10mi
6273 Selborn Dr SW Atlanta, GA	5.0	3.0	2891	$2,624	$0.91	0d	1	0.17mi
2551 Wrangler Dr SW Atlanta, GA	5.0	3.0	3102	$2,500	$0.81	0d	1	0.20mi
2551 Wrangler Dr SW Atlanta, GA	5.0	3.0	3102	$2,500	$0.81	7d	1	0.20mi
2332 Red Hibiscus Ct Atlanta, GA	5.0	4.0	4053	$4,099	$1.01	45d	1	0.21mi
6318 Shell Dr SW Atlanta, GA	5.0	3.0	3087	$2,740	$0.89	0d	1	0.30mi
6333 Selborn Dr SW Atlanta, GA	5.0	3.5	2949	$3,400	$1.15	20d	1	0.36mi
6483 Stonelake Pl SW Atlanta, GA	5.0	2.5	2624	$2,516	$0.96	0d	1	0.57mi
279 Faron Dr SW Atlanta, GA	4.0	2.5	2228	$2,730	$1.23	0d	1	1.19mi
267 Faron Dr SW Atlanta, GA	4.0	2.5	2361	$2,555	$1.08	23d	1	1.22mi
2715 Piper Dr Atlanta, GA	5.0	3.0	2712	$3,100	$1.14	45d	1	1.31mi

Listing history 15 events

1. 2026-06-21
   days on market $359,000 Active 41 DOM
2. 2026-06-18
   days on market $359,000 Active 38 DOM
3. 2026-06-17
   days on market $359,000 Active 37 DOM
4. 2026-06-16
   days on market $359,000 Active 36 DOM
5. 2026-06-15
   days on market $359,000 Active 35 DOM
6. 2026-06-13
   days on market $359,000 Active 33 DOM
7. 2026-06-09
   days on market $359,000 Active 29 DOM
8. 2026-06-08
   days on market $359,000 Active 28 DOM
9. 2026-06-07
   days on market $359,000 Active 27 DOM
10. 2026-06-04
    days on market $359,000 Active 24 DOM
11. 2026-06-03
    days on market $359,000 Active 23 DOM
12. 2026-06-01
    days on market $359,000 Active 21 DOM
13. 2026-05-31
    days on market $359,000 Active 20 DOM
14. 2026-05-11
    listed $359,000 Active 862-char remark
15. 2010-08-03
    price $165,000 Reduced

ⓘ 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: $6,235 · $520/mo
• Projected year-2 tax: $6,235 · $520/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $33,963
• − Mortgage interest: −$20,110
• − Property taxes: −$6,235
• − Insurance: −$1,795
• − Repairs & maintenance: −$2,717
• − Management: −$2,717
• − Depreciation: −$10,444
• Taxable loss: −$10,055
• Est. tax savings @ 24.0%: +$2,413
• After-tax cash flow: $-1,378/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): 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

+117.6% since first listed

2 events — show timeline

• 2026-05-11 Listed $359,000 FMLS
• 2010-08-03 Price Changed $165,000 GAMLS

Property tax history

+5.3%/yr

Latest (2025): $6,235 · +3.0% YoY. Source: county tax records.