45 S Greenfield Cir · Porterdale, GA 30016

$244,900

3 bd · 2.0 ba · 1,336 sqft · SingleFamily public records · 55 Days on market

Built 1999 7,840 sqft lot $183/sqft · 11% below area Est $267k · 8% under $25/mo HOA · 1% 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).

• Cash flow +12.1/30.0
• ARV discount +11.3/15.0
• DSCR +3.6/10.0
• 1% rule +3.1/10.0
• Rent growth +3.0/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 45 S Greenfield Circle in Covington, a charming two-story home offering 3 bedrooms and 2.5 bathrooms. This well-maintained residence features a functional layout with comfortable living spaces, perfect for both everyday living and entertaining. The main level offers a bright and inviting living area that flows seamlessly into the kitchen and dining space, while a convenient half bath adds extra functionality for guests. Upstairs, you'll find spacious bedrooms, including a private primary suite designed for relaxation. The home also includes a garage, ample storage, and a manageable yard ideal for outdoor enjoyment. Built in the late 1990s with approximately 1300 square feet of living space, this property combines efficiency with comfort.

Key facts

• 7,840 sq ft lot
• Garage
• Built 1999

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-54 ($-645/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (18.7% below list).
• Recommended offer: $199k (18.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#447 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+, housing B; Watch: schools F, amenities F, commute F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.8%/yr); 419 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).
• This rent runs 30% of the median local income ($80k/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 $7k of value loss. Plan a longer hold.
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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.

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 $199,021 (18.7% 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 55 days. Have you received any prior offers? Is the seller open to a 19% 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.94%
• DSCR: 0.96
• GRM: 10.3

CMA / ARV

• ARV (median comp): $267,218
• List price: $244,900
• Delta: -8.35%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
265 S Greenfield Cir	0.09mi	3/2.0	1,465 (+10%)	8mo	$262,500	$179	73
120 S Greenfield Cir	0.07mi	3/3.0	1,372 (+3%)	24mo	$260,000	$190	68
106 Kirkland Rd	0.66mi	3/2.0	1,399 (+5%)	1mo	$255,000	$182	60
882 Jack Neely Rd	0.35mi	2/1.0 (-1)	1,280 (-4%)	20mo	$120,000	$94	51
11555 Brown Bridge Rd	0.59mi	3/2.0	1,430 (+7%)	14mo	$314,146	$220	49
60 Brookstone Ct	0.66mi	3/2.0	1,452 (+9%)	7mo	$272,000	$187	49

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 · 1.84% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.34×
• Total profit: $-45,417
• Equity at exit: $36,515

10-year hold

• IRR: -14.2%
• Equity multiple: 0.22×
• Total profit: $-53,209
• Equity at exit: $21,174

Cash invested: $68,572 (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 30016

• Home prices YoY: -8.6%
• Rents YoY: 1.8%
• Active inventory: 419
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,990 high
• Mortgage (P&I): −$1,284
• Tax from tax record: −$215 /mo · $2,577/yr
• Insurance: −$102
• HOA: −$25
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $-54

Break-even live

Break-even rent $2,058

Max offer price $235,399

Occupancy floor 98%

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 N Greenfield Cir Covington, GA	3.0	2.5	1236	$1,910	$1.55	44d	1	0.01mi
130 N Greenfield Cir Covington, GA	3.0	2.0	1428	$1,769	$1.24	44d	1	0.04mi
70 S Greenfield Cir Covington, GA	3.0	2.0	1475	$1,825	$1.24	11d	1	0.07mi
513 Kirkland Rd Covington, GA	2.0–3.0	2.0–3.0	1207	$2,025	$1.68	5d	9	0.23mi
165 Cinnamon Oak Cir Covington, GA	4.0	3.0	1833	$1,756	$0.96	4d	1	0.61mi
160 Princeton Way Covington, GA	4.0	3.0	1858	$2,031	$1.09	13d	1	0.72mi
50 Harvard Dr Covington, GA	3.0	2.5	1566	$1,870	$1.19	44d	1	0.78mi
105 River North Ct Covington, GA	3.0	3.0	1523	$2,195	$1.44	13d	1	0.80mi
50 Robertford Dr Covington, GA	3.0	2.5	1765	$1,829	$1.04	22d	1	0.91mi
220 Windscape Dr Covington, GA	3.0	2.5	1561	$1,845	$1.18	13d	1	0.95mi
70 Trelawney Dr Covington, GA	2.0	1.0	1750	$1,850	$1.06	18d	1	1.06mi
374 McGiboney Rd Covington, GA	3.0	2.5	1624	$1,850	$1.14	2d	1	1.14mi
55 Windsong Dr Covington, GA	3.0	2.0	1849	$1,995	$1.08	44d	1	1.17mi
80 Randette Dr Covington, GA	3.0	2.0	1869	$2,195	$1.17	24d	1	1.23mi
160 Wisteria Way Covington, GA	4.0	2.5	1839	$2,119	$1.15	44d	1	1.27mi
35 Willow Tree Ter Covington, GA	3.0	2.5	1660	$1,850	$1.11	24d	1	1.29mi
80 Forray Dr Covington, GA	3.0	2.0	1690	$1,850	$1.09	24d	1	1.30mi
10 Brandon Dr Covington, GA	3.0	2.0	1215	$1,950	$1.60	44d	1	1.30mi
355 Sunflower Ln Covington, GA	4.0	2.5	1829	$1,855	$1.01	44d	1	1.43mi
300 Claremont Dr Covington, GA	3.0	2.0	1398	$1,895	$1.36	5d	1	1.45mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 19 events

1. 2026-05-14
   status Under Contract 759-char remark

   Show marketing remark (759 chars)

   Welcome to 45 S Greenfield Circle in Covington, a charming two-story home offering 3 bedrooms and 2.5 bathrooms. This well-maintained residence features a functional layout with comfortable living spaces, perfect for both everyday living and entertaining. The main level offers a bright and inviting living area that flows seamlessly into the kitchen and dining space, while a convenient half bath adds extra functionality for guests. Upstairs, you'll find spacious bedrooms, including a private primary suite designed for relaxation. The home also includes a garage, ample storage, and a manageable yard ideal for outdoor enjoyment. Built in the late 1990s with approximately 1300 square feet of living space, this property combines efficiency with comfort.

2. 2026-04-24
   price $244,900 759-char remark

   Show marketing remark (759 chars)

   Welcome to 45 S Greenfield Circle in Covington, a charming two-story home offering 3 bedrooms and 2.5 bathrooms. This well-maintained residence features a functional layout with comfortable living spaces, perfect for both everyday living and entertaining. The main level offers a bright and inviting living area that flows seamlessly into the kitchen and dining space, while a convenient half bath adds extra functionality for guests. Upstairs, you'll find spacious bedrooms, including a private primary suite designed for relaxation. The home also includes a garage, ample storage, and a manageable yard ideal for outdoor enjoyment. Built in the late 1990s with approximately 1300 square feet of living space, this property combines efficiency with comfort.

3. 2026-03-19
   listed $249,900 New 759-char remark

   Show marketing remark (759 chars)

   Welcome to 45 S Greenfield Circle in Covington, a charming two-story home offering 3 bedrooms and 2.5 bathrooms. This well-maintained residence features a functional layout with comfortable living spaces, perfect for both everyday living and entertaining. The main level offers a bright and inviting living area that flows seamlessly into the kitchen and dining space, while a convenient half bath adds extra functionality for guests. Upstairs, you'll find spacious bedrooms, including a private primary suite designed for relaxation. The home also includes a garage, ample storage, and a manageable yard ideal for outdoor enjoyment. Built in the late 1990s with approximately 1300 square feet of living space, this property combines efficiency with comfort.

4. 2022-11-16
   soldstatus $223,000
5. 2021-09-01
   soldstatus $215,000
6. 2021-08-27
   soldstatus $215,000 Closed 328-char remark

   Show marketing remark (328 chars)

   Lovely 2 Story Home Located in CUL De SAC! Roof is 5 Years Old! New Paint Inside & Outside! Hardwood Floor Upstairs & Laminate Floor Downstairs, Tile in Kitchen! 2 Story Foyer. Move-in Ready! Sold As Is. Seller will replace the floor of the bathroom downstairs. The refrigerator is Not included. Please Use Showing Time

7. 2021-08-27
   soldstatus $215,000 Sold

   Show marketing remark (328 chars)

   Lovely 2 Story Home Located in CUL De SAC! Roof is 5 Years Old! New Paint Inside & Outside! Hardwood Floor Upstairs & Laminate Floor Downstairs, Tile in Kitchen! 2 Story Foyer. Move-in Ready! Sold As Is. Seller will replace the floor of the bathroom downstairs. The refrigerator is Not included. Please Use Showing Time

8. 2021-08-11
   status Under Contract

   Show marketing remark (328 chars)

   Lovely 2 Story Home Located in CUL De SAC! Roof is 5 Years Old! New Paint Inside & Outside! Hardwood Floor Upstairs & Laminate Floor Downstairs, Tile in Kitchen! 2 Story Foyer. Move-in Ready! Sold As Is. Seller will replace the floor of the bathroom downstairs. The refrigerator is Not included. Please Use Showing Time

9. 2021-08-11
   historical Active Under Contract 328-char remark

   Show marketing remark (328 chars)

   Lovely 2 Story Home Located in CUL De SAC! Roof is 5 Years Old! New Paint Inside & Outside! Hardwood Floor Upstairs & Laminate Floor Downstairs, Tile in Kitchen! 2 Story Foyer. Move-in Ready! Sold As Is. Seller will replace the floor of the bathroom downstairs. The refrigerator is Not included. Please Use Showing Time

10. 2021-08-04
    listed $209,900 Active 328-char remark

    Show marketing remark (328 chars)

    Lovely 2 Story Home Located in CUL De SAC! Roof is 5 Years Old! New Paint Inside & Outside! Hardwood Floor Upstairs & Laminate Floor Downstairs, Tile in Kitchen! 2 Story Foyer. Move-in Ready! Sold As Is. Seller will replace the floor of the bathroom downstairs. The refrigerator is Not included. Please Use Showing Time

11. 2021-08-04
    listed $209,900 New

    Show marketing remark (328 chars)

    Lovely 2 Story Home Located in CUL De SAC! Roof is 5 Years Old! New Paint Inside & Outside! Hardwood Floor Upstairs & Laminate Floor Downstairs, Tile in Kitchen! 2 Story Foyer. Move-in Ready! Sold As Is. Seller will replace the floor of the bathroom downstairs. The refrigerator is Not included. Please Use Showing Time

12. 2014-10-29
    price $39,088
13. 2012-05-23
    soldstatus $39,088 Sold
14. 2012-03-19
    historical
15. 2012-03-15
    price $42,000
16. 2012-01-26
    price $42,000
17. 2011-12-25
    listed $46,500 New
18. 2007-07-31
    soldstatus $117,000
19. 1999-07-14
    soldstatus $16,700

ⓘ 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: $2,577 · $215/mo
• Projected year-2 tax: $2,577 · $215/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 ≥106°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,883
• − Mortgage interest: −$13,718
• − Property taxes: −$2,577
• − Insurance: −$1,224
• − Repairs & maintenance: −$1,911
• − Management: −$1,911
• − HOA: −$300
• − Depreciation: −$7,124
• Taxable loss: −$4,882
• Est. tax savings @ 24.0%: +$1,172
• After-tax cash flow: $526/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: Newton County
• NCES district ID: 1303930
• Math proficiency: 17% ▼ -13.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $50,768
• Composite: 19.2/100
• National rank: #8816
• State rank: #137 of 174 in GA

Livability — Porterdale

• Score: 58/100
• State rank: #447
• US rank: #21362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Newton County · 104,393 people
• City population: 76
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,968
• Household income: $79,527
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 1172.0

Population outlook (Newton County) Hauer SSP2

• Today (2025): 118,372 people
• By 2030: 124,234 · +5.0%
• By 2040: 135,550 · +14.5%
• By 2050: 145,309 · +22.8%
• By 2075: 166,843 · +40.9%
• By 2100: 175,800 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Newton

• 2024 margin: D (+15.1) · D 57.3% · R 42.2%
• 2008→2024 swing: +14.0pp toward D · 2008: 1.2pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+10.9 2016: D+2.4 2012: D+2.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.68%
• Current HPI: 317.5605
• Rent YoY: ▲ 1.84%
• 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

+1366.5% since first listed

19 events — show timeline

• 2026-05-14 Pending — GAMLS
• 2026-04-24 Price Changed $244,900 GAMLS
• 2026-03-19 Listed $249,900 GAMLS
• 2022-11-16 Sold (Public Records) $223,000 Public Records
• 2021-09-01 Sold (Public Records) $215,000 Public Records
• 2021-08-27 Sold (MLS) $215,000 GAMLS
• 2021-08-27 Sold (MLS) $215,000 FMLS
• 2021-08-11 Pending — GAMLS
• 2021-08-11 Contingent — FMLS
• 2021-08-04 Listed $209,900 GAMLS
• 2021-08-04 Listed $209,900 FMLS
• 2014-10-29 Price Changed $39,088 GAMLS
• 2012-05-23 Sold (MLS) $39,088 GAMLS
• 2012-03-19 Listing Removed — GAMLS
• 2012-03-15 Price Changed $42,000 GAMLS
• 2012-01-26 Price Changed $42,000 GAMLS
• 2011-12-25 Listed $46,500 GAMLS
• 2007-07-31 Sold (Public Records) $117,000 Public Records
• 1999-07-14 Sold (Public Records) $16,700 Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,577 · +3.1% YoY. Source: county tax records.