2298 East Lake Dr NE · Milstead, GA 30012

$329,900

3 bd · 2.0 ba · 1,920 sqft · SingleFamily public records · 58 Days on market

Built 1987 0.26 ac lot $172/sqft · 59% above area Est $412k · 20% under $13/mo HOA · 1% of rent

---

Why this score? — see what drove the F 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 +15.0/15.0
• Cash flow +6.3/30.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 1% rule +1.6/10.0
• DSCR +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare lakefront opportunity with endless possibilities on the shores of Rockdale Lake! Whether you're dreaming of a private waterfront retreat, multi generational living, Airbnb income potential, or the ultimate house hacking setup, this property is packed with opportunity. Wake up each day to breathtaking panoramic lake views and enjoy the peaceful lifestyle only waterfront living can offer. The main level features an inviting open floor plan with a spacious great room that captures the stunning water views. A bright sunroom overlooking the lake creates the perfect spot for morning coffee, evening sunsets, or simply relaxing in your own private oasis. The updated kitchen offers solid surface countertops, breakfast bar seating, and dining area, hardwood/LVP & tile flooring throughout the main level. The primary suite is a relaxing escape with a spa inspired bath featuring dual vanities, & soaking tub/shower combo. A guest bedroom and additional full bath complete the main level. Terrace level opens the door to even more possibilities with two bedrooms, two baths, and a large flex space ideal for a home office, bonus room, media room, or possible fifth bedroom with private entrance. Perfect for guests, extended family, or income producing space. Step outside to the level backyard right on the water where fishing, kayaking, entertaining, or simply enjoying the quiet beauty of the lake can become part of everyday life. With a little TLC, this hidden gem could be transformed into a showplace or smart investment. Opportunity is knocking loud and clear.

Key facts

• Open floor plan
• Waterfront living
• Panoramic lake views

Tags

• LAKEFRONT OPPORTUNITY
• WATERFRONT LIVING
• PANORAMIC LAKE VIEWS
• OPEN FLOOR PLAN
• SUNROOM OVERLOOKING LAKE
• UPDATED KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-591 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (31.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $218k (34.0% below list).
• Recommended offer: $218k (34.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Rockdale County (suburban): math 14% / reading 29% proficiency, ranked #136 of 174 in GA (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 278 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 483 units permitted in Rockdale County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($66k/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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Rockdale 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 58 days — a 3% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $40k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $217,840 (34.0% 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 58 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.66% ✗
• Cap rate: 4.14%
• Cash-on-cash: -7.67%
• DSCR: 0.66
• GRM: 12.6

CMA / ARV

• ARV (median comp): $412,114
• List price: $329,900
• Delta: -19.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2370 Lucas Dr NE	0.26mi	3/2.0	1,746 (-9%)	16mo	$300,000	$172	59
3041 Granite Dr NE	0.55mi	4/2.0 (+1)	1,809 (-6%)	3mo	$249,000	$138	57
2141 Arlin St NE	0.65mi	3/3.0	1,820 (-5%)	7mo	$228,000	$125	51
2502 Fraggle Roc	0.64mi	4/2.5 (+1)	1,986 (+3%)	8mo	$320,000	$161	50
2455 Lakeshore Dr NE	0.37mi	3/2.0	1,654 (-14%)	18mo	$303,000	$183	45
2600 Winding Lake Trl	0.56mi	4/2.5 (+1)	2,160 (+12%)	4mo	$375,000	$174	43
2320 Danielle Blvd	0.59mi	4/2.5 (+1)	2,124 (+11%)	15mo	$321,500	$151	35

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 · 0.39% rent growth · sell at horizon

5-year hold

• IRR: -32.7%
• Equity multiple: -0.05×
• Total profit: $-96,605
• Equity at exit: $49,189

10-year hold

• IRR: -57.5%
• Equity multiple: -0.67×
• Total profit: $-154,068
• Equity at exit: $28,524

Cash invested: $92,372 (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 30012

• Rents YoY: 0.4%
• Active inventory: 278
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,178 medium
• Mortgage (P&I): −$1,730
• Tax from tax record: −$431 /mo · $5,174/yr
• Insurance: −$137
• HOA: −$13
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $-591

Break-even live

Break-even rent $2,926

Max offer price $225,546

Occupancy floor —

Sensitivity live

Price	-10% $-404	-5% $-497	+0% $-591	+5% $-684	+10% $-777
Rent	-10% $-763	-5% $-677	+0% $-591	+5% $-505	+10% $-419
Rate	-1.0pp $-425	-0.5pp $-507	base $-591	+0.5pp $-676	+1.0pp $-763

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2078 Jessica Way Conyers, GA	4.0	2.5	1939	$2,231	$1.15	15d	1	0.80mi
1950 Crescent Moon Dr NE Conyers, GA	3.0	2.5	1706	$2,400	$1.41	44d	1	0.92mi
2438 Planters Mill Way Conyers, GA	4.0	3.5	2292	$2,800	$1.22	44d	1	1.39mi
1764 Green St NE Conyers, GA	2.0	2.0	1740	$1,500	$0.86	13d	1	1.46mi

HOA detail

• Monthly dues: $13 · $156/yr
• Likely covers: water

Listing history 28 events

1. 2026-06-18
   days on market $329,900 Active 58 DOM
2. 2026-06-17
   days on market $329,900 Active 57 DOM
3. 2026-06-16
   days on market $329,900 Active 56 DOM
4. 2026-06-15
   days on market $329,900 Active 55 DOM
5. 2026-06-13
   days on market $329,900 Active 53 DOM
6. 2026-06-09
   days on market $329,900 Active 49 DOM
7. 2026-06-08
   pricedays on market $329,900 Active 48 DOM
8. 2026-06-07
   days on market $339,900 Active 47 DOM
9. 2026-06-04
   days on market $339,900 Active 44 DOM
10. 2026-06-03
    days on market $339,900 Active 43 DOM
11. 2026-06-02
    days on market $339,900 Active 42 DOM
12. 2026-06-01
    days on market $339,900 Active 41 DOM
13. 2026-05-31
    days on market $339,900 Active 40 DOM
14. 2026-04-29
    price $339,900 1581-char remark

    Show marketing remark (1581 chars)

    Rare lakefront opportunity with endless possibilities on the shores of Rockdale Lake! Whether you're dreaming of a private waterfront retreat, multi generational living, Airbnb income potential, or the ultimate house hacking setup, this property is packed with opportunity. Wake up each day to breathtaking panoramic lake views and enjoy the peaceful lifestyle only waterfront living can offer. The main level features an inviting open floor plan with a spacious great room that captures the stunning water views. A bright sunroom overlooking the lake creates the perfect spot for morning coffee, evening sunsets, or simply relaxing in your own private oasis. The updated kitchen offers solid surface countertops, breakfast bar seating, and dining area, hardwood/LVP & tile flooring throughout the main level. The primary suite is a relaxing escape with a spa inspired bath featuring dual vanities, & soaking tub/shower combo. A guest bedroom and additional full bath complete the main level. Terrace level opens the door to even more possibilities with two bedrooms, two baths, and a large flex space ideal for a home office, bonus room, media room, or possible fifth bedroom with private entrance. Perfect for guests, extended family, or income producing space. Step outside to the level backyard right on the water where fishing, kayaking, entertaining, or simply enjoying the quiet beauty of the lake can become part of everyday life. With a little TLC, this hidden gem could be transformed into a showplace or smart investment. Opportunity is knocking loud and clear.

15. 2026-04-29
    price $339,900 1581-char remark

    Show marketing remark (1581 chars)

    Rare lakefront opportunity with endless possibilities on the shores of Rockdale Lake! Whether you're dreaming of a private waterfront retreat, multi generational living, Airbnb income potential, or the ultimate house hacking setup, this property is packed with opportunity. Wake up each day to breathtaking panoramic lake views and enjoy the peaceful lifestyle only waterfront living can offer. The main level features an inviting open floor plan with a spacious great room that captures the stunning water views. A bright sunroom overlooking the lake creates the perfect spot for morning coffee, evening sunsets, or simply relaxing in your own private oasis. The updated kitchen offers solid surface countertops, breakfast bar seating, and dining area, hardwood/LVP & tile flooring throughout the main level. The primary suite is a relaxing escape with a spa inspired bath featuring dual vanities, & soaking tub/shower combo. A guest bedroom and additional full bath complete the main level. Terrace level opens the door to even more possibilities with two bedrooms, two baths, and a large flex space ideal for a home office, bonus room, media room, or possible fifth bedroom with private entrance. Perfect for guests, extended family, or income producing space. Step outside to the level backyard right on the water where fishing, kayaking, entertaining, or simply enjoying the quiet beauty of the lake can become part of everyday life. With a little TLC, this hidden gem could be transformed into a showplace or smart investment. Opportunity is knocking loud and clear.

16. 2026-04-21
    listed $370,000 Active 1581-char remark

    Show marketing remark (1581 chars)

    Rare lakefront opportunity with endless possibilities on the shores of Rockdale Lake! Whether you're dreaming of a private waterfront retreat, multi generational living, Airbnb income potential, or the ultimate house hacking setup, this property is packed with opportunity. Wake up each day to breathtaking panoramic lake views and enjoy the peaceful lifestyle only waterfront living can offer. The main level features an inviting open floor plan with a spacious great room that captures the stunning water views. A bright sunroom overlooking the lake creates the perfect spot for morning coffee, evening sunsets, or simply relaxing in your own private oasis. The updated kitchen offers solid surface countertops, breakfast bar seating, and dining area, hardwood/LVP & tile flooring throughout the main level. The primary suite is a relaxing escape with a spa inspired bath featuring dual vanities, & soaking tub/shower combo. A guest bedroom and additional full bath complete the main level. Terrace level opens the door to even more possibilities with two bedrooms, two baths, and a large flex space ideal for a home office, bonus room, media room, or possible fifth bedroom with private entrance. Perfect for guests, extended family, or income producing space. Step outside to the level backyard right on the water where fishing, kayaking, entertaining, or simply enjoying the quiet beauty of the lake can become part of everyday life. With a little TLC, this hidden gem could be transformed into a showplace or smart investment. Opportunity is knocking loud and clear.

17. 2026-04-17
    listed $370,000 New 1581-char remark

    Show marketing remark (1581 chars)

    Rare lakefront opportunity with endless possibilities on the shores of Rockdale Lake! Whether you're dreaming of a private waterfront retreat, multi generational living, Airbnb income potential, or the ultimate house hacking setup, this property is packed with opportunity. Wake up each day to breathtaking panoramic lake views and enjoy the peaceful lifestyle only waterfront living can offer. The main level features an inviting open floor plan with a spacious great room that captures the stunning water views. A bright sunroom overlooking the lake creates the perfect spot for morning coffee, evening sunsets, or simply relaxing in your own private oasis. The updated kitchen offers solid surface countertops, breakfast bar seating, and dining area, hardwood/LVP & tile flooring throughout the main level. The primary suite is a relaxing escape with a spa inspired bath featuring dual vanities, & soaking tub/shower combo. A guest bedroom and additional full bath complete the main level. Terrace level opens the door to even more possibilities with two bedrooms, two baths, and a large flex space ideal for a home office, bonus room, media room, or possible fifth bedroom with private entrance. Perfect for guests, extended family, or income producing space. Step outside to the level backyard right on the water where fishing, kayaking, entertaining, or simply enjoying the quiet beauty of the lake can become part of everyday life. With a little TLC, this hidden gem could be transformed into a showplace or smart investment. Opportunity is knocking loud and clear.

18. 2026-04-09
    historical
19. 2026-02-25
    listed $365,000 New
20. 2024-06-13
    soldstatus $358,000
21. 2024-06-10
    soldstatus $358,000 Sold
22. 2024-05-06
    status Under Contract
23. 2024-04-29
    historical Active Under Contract
24. 2024-04-01
    price $358,000
25. 2024-03-24
    price $368,000
26. 2024-02-07
    price $439,000
27. 2024-01-02
    listed $450,000 New
28. 1999-04-23
    soldstatus $48,000

ⓘ 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: $5,174 · $431/mo
• Projected year-2 tax: $5,174 · $431/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 5/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,141
• − Mortgage interest: −$18,480
• − Property taxes: −$5,174
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,091
• − Management: −$2,091
• − HOA: −$156
• − Depreciation: −$9,597
• Taxable loss: −$13,098
• Est. tax savings @ 24.0%: +$3,143
• After-tax cash flow: $-3,945/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: Rockdale County
• NCES district ID: 1304410
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $53,325
• Composite: 19.42/100
• National rank: #8776
• State rank: #136 of 174 in GA

Livability — Milstead

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Rockdale County · 96,534 people
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 34,506
• Household income: $66,153
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 986.0

Population outlook (Rockdale County) Hauer SSP2

• Today (2025): 99,145 people
• By 2030: 104,558 · +5.5%
• By 2040: 116,100 · +17.1%
• By 2050: 127,827 · +28.9%
• By 2075: 159,113 · +60.5%
• By 2100: 181,178 · +82.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 49% White 27% Hispanic / Latino 18% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Hispanic 1% Lithuanian 1% Italian 1%
• Foreign-born: 14% · Canada, South Korea
• Languages at home: 81% English-only · Spanish 16% French/Haitian/Cajun 2% Korean 1%

Political lean MEDSL · Rockdale

• 2024 margin: Solid D (+47.5) · D 73.4% · R 25.9%
• 2008→2024 swing: +37.9pp toward D · 2008: 9.6pp · 2024: 47.5pp
• All cycles: 2024: D+47.5 2020: D+40.8 2016: D+25.9 2012: D+16.4 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.61%
• Current HPI: 226.9588
• Rent YoY: ▲ 0.39%
• 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

+608.1% since first listed

15 events — show timeline

• 2026-04-29 Price Changed $339,900 FMLS
• 2026-04-29 Price Changed $339,900 GAMLS
• 2026-04-21 Listed $370,000 FMLS
• 2026-04-17 Listed $370,000 GAMLS
• 2026-04-09 Listing Removed — GAMLS
• 2026-02-25 Listed $365,000 GAMLS
• 2024-06-13 Sold (Public Records) $358,000 Public Records
• 2024-06-10 Sold (MLS) $358,000 GAMLS
• 2024-05-06 Pending — GAMLS
• 2024-04-29 Contingent — GAMLS
• 2024-04-01 Price Changed $358,000 GAMLS
• 2024-03-24 Price Changed $368,000 GAMLS
• 2024-02-07 Price Changed $439,000 GAMLS
• 2024-01-02 Listed $450,000 GAMLS
• 1999-04-23 Sold (Public Records) $48,000 Public Records

Property tax history

+30.3%/yr

Latest (2025): $5,174 · +99.8% YoY. Source: county tax records.