Hanover Plan · East Point, GA 30349

$437,990

4 bd · 2.5 ba · 2,804 sqft · SingleFamily · 239 Days on market

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.0/30.0
• Schools +4.5/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.4/10.0

Listing remarks MLS

The Hanover is a two-story plan available to build in our Creekview community in Atlanta, GA that offers 4 bedrooms, 2.5 bathrooms, and a 2-car garage in 2,804 square feet. 3 unique exterior elevations are available to choose between to achieve the look that best suits your preferences. As you enter this home, you'll walk down a long, inviting foyer with the office and dining room entrances. At the rear of the home you'll find the open-concept entertaining space comprised of a family room, dining area, and kitchen. The oversized family room will fit all of your furniture and then some, and the dining space allows for a table to gather around. In the kitchen you'll find granite countertops, stainless-steel appliances, and an expansive corner pantry. Luxury vinyl flooring is found throughout the main level, which is perfect for an active household. An open loft sits at the top of the stairs, a blank canvas for your needs, whether it be a second living area, game room, playroom, or anything else you can dream up. The primary suite consists of a large bedroom, en suite bathroom with a double vanity, separate tub and shower, and a large walk-in closet. Three additional guest bedrooms, one full bathroom with double vanity, and the laundry room round out the second floor. We would be thrilled to help you find an available Hanover plan home in Creekview. Photos are representative in nature and do not depict actual home listed. Features may differ.

Key facts

• Open loft
• Granite countertops
• Large walk in closet

Tags

• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• EXPANSIVE CORNER PANTRY
• LUXURY VINYL FLOORING
• OPEN LOFT
• LARGE WALK IN CLOSET

🏗️ New construction. The $437,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $428,583.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $438k.

Deal economics

• At list price, monthly cash flow is $-817 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $310k (29.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (38.0% below list).
• Recommended offer: $271k (38.0% below list) — sets the bar for 1% rule.
• Cap rate 4.0% vs local median 5.1% in East Point — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 72/100 on livability (#72 in GA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• 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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• At $2,715/mo this rent would consume 49% of the median local household income ($67k/yr) (locally 4258% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $46k of equity ($3k loan paydown + $43k appreciation (10.0% local appreciation)).
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$74k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($385k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $271,498 (38.0% 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 239 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.63% ✗
• Cap rate: 4.01%
• Cash-on-cash: -8.17%
• DSCR: 0.64
• GRM: 13.2

CMA / ARV

• ARV (median comp): $428,583
• List price: $437,990
• Delta: 2.19%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3879 Donetta Dr	0.11mi	5/3.0 (+1)	2,511 (-10%)	2mo	$435,490	$173	69
3897 Lake Sanctuary Way	0.15mi	3/2.5 (-1)	2,930 (+4%)	14mo	$347,000	$118	69
3968 Otter Dam Ct	0.33mi	4/2.5	2,590 (-8%)	6mo	$365,000	$141	66
3940 Kingfisher Dr	0.23mi	5/3.0 (+1)	2,710 (-3%)	22mo	$415,000	$153	58
3877 Lake Sanctuary Way	0.23mi	4/2.5	2,414 (-14%)	11mo	$375,000	$155	56
4055 Thaxton Rd	0.41mi	4/2.0	2,480 (-12%)	13mo	$550,000	$222	48
2085 High Point Trl SW	0.49mi	4/3.0	2,401 (-14%)	4mo	$450,000	$187	48
4265 Hidden Valley Dr	0.63mi	4/3.0	3,106 (+11%)	12mo	$377,500	$122	40
3777 Lake Haven Way	0.48mi	5/3.0 (+1)	3,172 (+13%)	10mo	$455,000	$143	40
3726 Lake Enclave Way	0.53mi	5/3.0 (+1)	3,018 (+8%)	20mo	$435,000	$144	39
3736 Lake Enclave Way	0.53mi	4/2.5	3,192 (+14%)	20mo	$405,000	$127	36
170 Lost Cove Dr SW	0.72mi	5/3.0 (+1)	2,496 (-11%)	21mo	$435,000	$174	24

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: 18.0%
• Equity multiple: 2.47×
• Total profit: $175,935
• Equity at exit: $386,101

10-year hold

• IRR: 16.5%
• Equity multiple: 5.57×
• Total profit: $548,872
• Equity at exit: $832,642

Cash invested: $120,003 (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: 13.4×

Monthly cashflow live

• Estimated rent: $2,715 high
• Mortgage (P&I): −$2,248
• Tax est. 1.5%: −$536 /mo · $6,429/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $-817

Break-even live

Break-even rent $3,749

Max offer price $310,361

Occupancy floor —

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: $107,146
• Closing costs: $12,857
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3920 Lake Manor Way Atlanta, GA	4.0	2.5	2302	$2,479	$1.08	5d	1	0.28mi
3920 Lake Manor Way Atlanta, GA	4.0	2.5	2302	$2,479	$1.08	17d	1	0.28mi
3910 Lake Manor Way Atlanta, GA	4.0	2.5	2459	$1,560	$0.63	4d	1	0.31mi
4010 Lake Manor Way Atlanta, GA	4.0	2.5	2900	$5,500	$1.90	44d	1	0.51mi
4057 Princeton Lakes Way SW Atlanta, GA	3.0	2.5	2088	$2,628	$1.26	24d	1	1.10mi
3450 Sycamore Dr SW Atlanta, GA	5.0	4.5	3021	$3,200	$1.06	24d	1	1.14mi
3934 Princeton Lakes Pass SW Atlanta, GA	3.0	2.5	1974	$2,500	$1.27	3d	1	1.22mi
3289 Wellington Walk SW Atlanta, GA	4.0	2.5	2000	$2,650	$1.32	5d	1	1.24mi
4595 Blazing Trl Atlanta, GA	4.0	2.5	2248	$2,650	$1.18	44d	1	1.26mi
4830 Elm Leaf Dr SW Atlanta, GA	4.0	3.5	2724	$3,095	$1.14	13d	1	1.37mi
4910 Heritage Cir Atlanta, GA	4.0	2.0	2229	$2,355	$1.06	24d	1	1.50mi

Listing history 13 events

1. 2026-06-18
   days on market $437,990 Active 239 DOM
2. 2026-06-17
   days on market $437,990 Active 238 DOM
3. 2026-06-16
   days on market $437,990 Active 237 DOM
4. 2026-06-15
   days on market $437,990 Active 236 DOM
5. 2026-06-13
   days on market $437,990 Active 234 DOM
6. 2026-06-09
   days on market $437,990 Active 230 DOM
7. 2026-06-08
   days on market $437,990 Active 229 DOM
8. 2026-06-08
   days on market $437,990 Active 228 DOM
9. 2026-06-04
   days on market $437,990 Active 225 DOM
10. 2026-06-03
    days on market $437,990 Active 224 DOM
11. 2026-06-01
    days on market $437,990 Active 222 DOM
12. 2026-05-31
    days on market $437,990 Active 221 DOM
13. 2025-10-22
    listed $437,990 Active 1463-char remark

    Show marketing remark (1463 chars)

    The Hanover is a two-story plan available to build in our Creekview community in Atlanta, GA that offers 4 bedrooms, 2.5 bathrooms, and a 2-car garage in 2,804 square feet. 3 unique exterior elevations are available to choose between to achieve the look that best suits your preferences. As you enter this home, you'll walk down a long, inviting foyer with the office and dining room entrances. At the rear of the home you'll find the open-concept entertaining space comprised of a family room, dining area, and kitchen. The oversized family room will fit all of your furniture and then some, and the dining space allows for a table to gather around. In the kitchen you'll find granite countertops, stainless-steel appliances, and an expansive corner pantry. Luxury vinyl flooring is found throughout the main level, which is perfect for an active household. An open loft sits at the top of the stairs, a blank canvas for your needs, whether it be a second living area, game room, playroom, or anything else you can dream up. The primary suite consists of a large bedroom, en suite bathroom with a double vanity, separate tub and shower, and a large walk-in closet. Three additional guest bedrooms, one full bathroom with double vanity, and the laundry room round out the second floor. We would be thrilled to help you find an available Hanover plan home in Creekview. Photos are representative in nature and do not depict actual home listed. Features may differ.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 6 d/yr ≥104°F today · 16 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,580
• − Mortgage interest: −$24,007
• − Property taxes: −$6,429
• − Insurance: −$2,143
• − Repairs & maintenance: −$2,606
• − Management: −$2,606
• − Depreciation: −$12,468
• Taxable loss: −$17,680
• Est. tax savings @ 24.0%: +$4,243
• After-tax cash flow: $-5,561/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 — East Point

• Score: 72/100
• State rank: #72
• US rank: #6314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Point, 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

1 event — show timeline

• 2025-10-22 Listed $437,990 Zillow