4045 Boulder Vista Dr · Panthersville, GA 30288

$158,000

3 bd · 2.0 ba · 1,822 sqft · SingleFamily public records · 76 Days on market

Built 1963 0.51 ac lot $87/sqft · 35% below area Est $243k · 35% under

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Why this score? — see what drove the B 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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming split-level home offers 3 bedrooms and 1 1/2 bathrooms, providing a solid foundation for comfortable living. With great bones and plenty of potential, it's the perfect opportunity for buyers looking to add their personal touch and make it their own. Step onto the inviting front porch and imagine relaxing mornings or quiet evenings overlooking the front yard. Inside, the layout offers a functional flow with distinct living spaces typical of a split-level design. The property also features a convenient one-car garage, a spacious back deck ideal for entertaining or outdoor dining, and a generously sized backyard with plenty of room for recreation, gardening, or future enhancements. With a little TLC and vision, this home can truly shine whether you're an investor or a homeowner ready to create your dream space.

Key facts

• 0.51 acre lot
• Garage
• Built 1963

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $158k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $158k).
• Recommended offer: $149k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 5.3% in Panthersville — 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 66/100 on livability (#180 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Dekalb County (suburban): math 19% / reading 28% proficiency, ranked #125 of 174 in GA (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cedar Grove Elementary School (math 15% / reading 24%, grade F, #873 of 1,228 statewide, top 71%, 565 students, 100% FRL); Cedar Grove Middle School (math 2% / reading 17%, grade F, #433 of 470 statewide, top 93%, 777 students, 100% FRL); Cedar Grove High School (math 8% / reading 17%, grade F, #336 of 424 statewide, top 80%, 1,123 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 53 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• At $2,100/mo this rent would consume 49% of the median local household income ($52k/yr) (locally 213% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• DeKalb County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $17k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $158k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,520 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D-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. 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.
7. 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.
8. 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: 1.33% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.49%
• DSCR: 1.60
• GRM: 6.3

CMA / ARV

• ARV (median comp): $243,253
• List price: $158,000
• Delta: -35.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2340 Big Pine Ct	0.31mi	4/2.0 (+1)	1,665 (-9%)	0mo	$161,525	$97	66
4216 Connor Dr	0.58mi	3/2.0	1,790 (-2%)	12mo	$70,000	$39	60
3884 Rockey Valley Dr	0.18mi	4/2.0 (+1)	2,000 (+10%)	15mo	$175,000	$88	58
1983 Smithfield Ave	0.59mi	3/2.5	1,933 (+6%)	3mo	$288,000	$149	57
3840 Rolling Pl	0.52mi	3/2.0	1,602 (-12%)	3mo	$228,000	$142	53
3884 Blue Granite Way	0.39mi	4/2.5 (+1)	1,966 (+8%)	14mo	$260,000	$132	50
3694 Rolling Pl	0.60mi	3/2.0	1,630 (-10%)	7mo	$200,000	$123	49
2365 Rock Hollow Dr	0.58mi	3/2.0	1,602 (-12%)	7mo	$212,000	$132	48
3779 Rolling Pl	0.60mi	4/3.0 (+1)	1,680 (-8%)	6mo	$232,000	$138	45
3787 Rolling Pl	0.59mi	4/3.5 (+1)	1,680 (-8%)	5mo	$225,000	$134	45
2413 Tolliver Hills Ln	0.66mi	3/2.0	1,557 (-14%)	1mo	$215,000	$138	44
3909 Micah Ln	0.69mi	3/2.0	1,649 (-10%)	14mo	$248,000	$150	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $6,147
• Equity at exit: $23,558

10-year hold

• IRR: 13.2%
• Equity multiple: 2.05×
• Total profit: $46,443
• Equity at exit: $13,661

Cash invested: $44,240 (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 30288

• Home prices YoY: -12.9%
• Active inventory: 53
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,100 high
• Mortgage (P&I): −$829
• Tax from tax record: −$267 /mo · $3,204/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $497

Break-even live

Break-even rent $1,470

Max offer price $158,000

Occupancy floor 71%

Sensitivity live

Price	-10% $587	-5% $542	+0% $497	+5% $453	+10% $408
Rent	-10% $331	-5% $414	+0% $497	+5% $580	+10% $663
Rate	-1.0pp $577	-0.5pp $538	base $497	+0.5pp $456	+1.0pp $415

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: $39,500
• Closing costs: $4,740
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3679 Bouldercrest Rd Ellenwood, GA	3.0	3.5	1500	$1,900	$1.27	46d	1	0.43mi
3691 Connor Dr Ellenwood, GA	3.0	3.0	1400	$1,900	$1.36	46d	1	0.43mi
2141 Silva Ct Conley, GA	4.0	2.5	2097	$2,155	$1.03	0d	1	0.44mi
4149 Connor Dr Ellenwood, GA	4.0	3.0	1288	$2,000	$1.55	46d	1	0.45mi
4149 Connor Dr Ellenwood, GA	4.0	3.0	2300	$1,975	$0.86	7d	1	0.45mi
4265 Loveless Pl Ellenwood, GA	3.0	2.0	1426	$1,715	$1.20	24d	1	0.51mi
2327 Tolliver Pl Ellenwood, GA	4.0	2.5	1688	$2,111	$1.25	46d	1	0.64mi
2616 Micah Dr Ellenwood, GA	4.0	2.0	2011	$1,985	$0.99	46d	1	0.77mi
2274 Silver Maple Cir Ellenwood, GA	3.0	2.5	1673	$2,000	$1.20	26d	1	0.81mi
2498 Tolliver Dr Ellenwood, GA	4.0	2.5	2310	$2,255	$0.98	0d	1	0.84mi
2526 Riverwood Spg Ellenwood, GA	4.0	3.0	2354	$2,460	$1.05	26d	1	0.94mi
2010 Redwood Trce Ellenwood, GA	4.0	2.5	2036	$2,079	$1.02	24d	1	0.94mi
4197 Grant Forest Cir Ellenwood, GA	4.0	2.5	2208	$2,300	$1.04	46d	1	0.97mi
2424 Broad River Pl Ellenwood, GA	4.0	2.5	2056	$2,250	$1.09	26d	1	0.99mi
2419 Broad River Pl Ellenwood, GA	4.0	3.0	2056	$2,431	$1.18	1d	1	0.99mi
3784 River Lake Shr Ellenwood, GA	3.0	2.0	1775	$1,900	$1.07	23d	1	1.05mi
1793 Cedar Walk Ln Conley, GA	3.0	2.0	2143	$1,950	$0.91	46d	1	1.07mi
1952 Boulder Hills Dr Ellenwood, GA	3.0	2.0	1410	$1,875	$1.33	46d	1	1.08mi
3060 Orbit Cir Ellenwood, GA	3.0	2.0	1916	$1,789	$0.93	4d	1	1.11mi
3912 Old Ivy Ct Ellenwood, GA	3.0	1.5	1718	$2,000	$1.16	46d	1	1.14mi
4136 Moore Rd Ellenwood, GA	4.0	2.0	1888	$1,981	$1.05	46d	1	1.18mi
3531 Weathered Wood Dr Ellenwood, GA	3.0	2.0	2151	$2,290	$1.06	19d	1	1.21mi
1997 Boulder Gate Dr Ellenwood, GA	4.0	3.5	2506	$2,430	$0.97	46d	1	1.22mi
2503 Brookgate Way Ellenwood, GA	4.0	2.5	1924	$2,215	$1.15	23d	1	1.23mi
2340 Brookgate Way Ellenwood, GA	4.0	2.0	1924	$2,024	$1.05	23d	1	1.24mi
2882 Ward Lake Way Ellenwood, GA	3.0	2.5	1685	$1,676	$0.99	46d	1	1.42mi
4153 Ward Lake Trl Ellenwood, GA	3.0	2.0	1460	$1,930	$1.32	46d	1	1.44mi
3763 Soapstone Rd Decatur, GA	3.0	3.0	1400	$1,700	$1.21	26d	1	1.45mi
3981 Ivy Trace Ln Ellenwood, GA	3.0	2.5	1608	$2,184	$1.36	26d	1	1.46mi
4095 Gracewood Park Dr Ellenwood, GA	4.0	2.0	2394	$2,389	$1.00	24d	1	1.48mi

Listing history 25 events

1. 2026-06-22
   days on market $158,000 Active 76 DOM
2. 2026-06-21
   days on market $158,000 Active 75 DOM
3. 2026-06-18
   days on market $158,000 Active 72 DOM
4. 2026-06-17
   days on market $158,000 Active 71 DOM
5. 2026-06-16
   days on market $158,000 Active 70 DOM
6. 2026-06-15
   days on market $158,000 Active 69 DOM
7. 2026-06-13
   pricedays on market $158,000 Active 67 DOM
8. 2026-06-09
   days on market $165,000 Active 63 DOM
9. 2026-06-08
   days on market $165,000 Active 62 DOM
10. 2026-06-07
    days on market $165,000 Active 61 DOM
11. 2026-06-04
    days on market $165,000 Active 58 DOM
12. 2026-06-03
    days on market $165,000 Active 57 DOM
13. 2026-06-02
    days on market $165,000 Active 56 DOM
14. 2026-06-01
    days on market $165,000 Active 55 DOM
15. 2026-05-31
    days on market $165,000 Active 54 DOM
16. 2026-05-19
    price $165,000 833-char remark

    Show marketing remark (833 chars)

    This charming split-level home offers 3 bedrooms and 1 1/2 bathrooms, providing a solid foundation for comfortable living. With great bones and plenty of potential, it's the perfect opportunity for buyers looking to add their personal touch and make it their own. Step onto the inviting front porch and imagine relaxing mornings or quiet evenings overlooking the front yard. Inside, the layout offers a functional flow with distinct living spaces typical of a split-level design. The property also features a convenient one-car garage, a spacious back deck ideal for entertaining or outdoor dining, and a generously sized backyard with plenty of room for recreation, gardening, or future enhancements. With a little TLC and vision, this home can truly shine whether you're an investor or a homeowner ready to create your dream space.

17. 2026-05-19
    price $165,000 833-char remark

    Show marketing remark (833 chars)

    This charming split-level home offers 3 bedrooms and 1 1/2 bathrooms, providing a solid foundation for comfortable living. With great bones and plenty of potential, it's the perfect opportunity for buyers looking to add their personal touch and make it their own. Step onto the inviting front porch and imagine relaxing mornings or quiet evenings overlooking the front yard. Inside, the layout offers a functional flow with distinct living spaces typical of a split-level design. The property also features a convenient one-car garage, a spacious back deck ideal for entertaining or outdoor dining, and a generously sized backyard with plenty of room for recreation, gardening, or future enhancements. With a little TLC and vision, this home can truly shine whether you're an investor or a homeowner ready to create your dream space.

18. 2026-04-28
    price $167,500 833-char remark

    Show marketing remark (833 chars)

    This charming split-level home offers 3 bedrooms and 1 1/2 bathrooms, providing a solid foundation for comfortable living. With great bones and plenty of potential, it's the perfect opportunity for buyers looking to add their personal touch and make it their own. Step onto the inviting front porch and imagine relaxing mornings or quiet evenings overlooking the front yard. Inside, the layout offers a functional flow with distinct living spaces typical of a split-level design. The property also features a convenient one-car garage, a spacious back deck ideal for entertaining or outdoor dining, and a generously sized backyard with plenty of room for recreation, gardening, or future enhancements. With a little TLC and vision, this home can truly shine whether you're an investor or a homeowner ready to create your dream space.

19. 2026-04-28
    price $167,500 833-char remark

    Show marketing remark (833 chars)

    This charming split-level home offers 3 bedrooms and 1 1/2 bathrooms, providing a solid foundation for comfortable living. With great bones and plenty of potential, it's the perfect opportunity for buyers looking to add their personal touch and make it their own. Step onto the inviting front porch and imagine relaxing mornings or quiet evenings overlooking the front yard. Inside, the layout offers a functional flow with distinct living spaces typical of a split-level design. The property also features a convenient one-car garage, a spacious back deck ideal for entertaining or outdoor dining, and a generously sized backyard with plenty of room for recreation, gardening, or future enhancements. With a little TLC and vision, this home can truly shine whether you're an investor or a homeowner ready to create your dream space.

20. 2026-04-07
    listed $175,000 New 833-char remark

    Show marketing remark (833 chars)

    This charming split-level home offers 3 bedrooms and 1 1/2 bathrooms, providing a solid foundation for comfortable living. With great bones and plenty of potential, it's the perfect opportunity for buyers looking to add their personal touch and make it their own. Step onto the inviting front porch and imagine relaxing mornings or quiet evenings overlooking the front yard. Inside, the layout offers a functional flow with distinct living spaces typical of a split-level design. The property also features a convenient one-car garage, a spacious back deck ideal for entertaining or outdoor dining, and a generously sized backyard with plenty of room for recreation, gardening, or future enhancements. With a little TLC and vision, this home can truly shine whether you're an investor or a homeowner ready to create your dream space.

21. 2026-04-07
    listed $175,000 Active 833-char remark

    Show marketing remark (833 chars)

    This charming split-level home offers 3 bedrooms and 1 1/2 bathrooms, providing a solid foundation for comfortable living. With great bones and plenty of potential, it's the perfect opportunity for buyers looking to add their personal touch and make it their own. Step onto the inviting front porch and imagine relaxing mornings or quiet evenings overlooking the front yard. Inside, the layout offers a functional flow with distinct living spaces typical of a split-level design. The property also features a convenient one-car garage, a spacious back deck ideal for entertaining or outdoor dining, and a generously sized backyard with plenty of room for recreation, gardening, or future enhancements. With a little TLC and vision, this home can truly shine whether you're an investor or a homeowner ready to create your dream space.

22. 2026-03-12
    historical $1,629
23. 2026-02-25
    price $1,629
24. 2026-02-21
    listed $1,599
25. 1993-09-13
    soldstatus $75,000

ⓘ 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: $3,204 · $267/mo
• Projected year-2 tax: $3,204 · $267/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $25,197
• − Mortgage interest: −$8,850
• − Property taxes: −$3,204
• − Insurance: −$790
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$4,596
• Taxable income: $3,724
• Est. tax owed @ 24.0%: −$894
• After-tax cash flow: $5,074/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: Dekalb County
• NCES district ID: 1301740
• Math proficiency: 19% ▼ -12.00%
• Reading proficiency: 28% ▼ -7.00%
• Median HH income: $51,448
• Composite: 20.92/100
• National rank: #8482
• State rank: #125 of 174 in GA

Livability — Panthersville

• Score: 66/100
• State rank: #180
• US rank: #11244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dekalb County · 782,738 people
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 8,116
• Household income: $51,511
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 213.0

Population outlook (DeKalb County) Hauer SSP2

• Today (2025): 839,977 people
• By 2030: 891,768 · +6.2%
• By 2040: 988,894 · +17.7%
• By 2050: 1,074,583 · +27.9%
• By 2075: 1,245,026 · +48.2%
• By 2100: 1,303,135 · +55.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (75%)
• Race & ethnicity: Black 75% Hispanic / Latino 13% White 9% Two or more races 8%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 1%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 12% Vietnamese 1%

Political lean MEDSL · DeKalb

• 2024 margin: Solid D (+64.8) · D 81.9% · R 17.1% · Other 1.0%
• 2008→2024 swing: +6.1pp toward D · 2008: 58.6pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+67.4 2016: D+64.8 2012: D+56.8 2008: D+58.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.96%
• Current HPI: 222.5766
• Rent YoY: —
• 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

+120.0% since first listed

10 events — show timeline

• 2026-05-19 Price Changed $165,000 GAMLS
• 2026-05-19 Price Changed $165,000 FMLS
• 2026-04-28 Price Changed $167,500 GAMLS
• 2026-04-28 Price Changed $167,500 FMLS
• 2026-04-07 Listed $175,000 FMLS
• 2026-04-07 Listed $175,000 GAMLS
• 2026-03-12 Rental Removed $1,629 Tricon
• 2026-02-25 Price Changed $1,629 Tricon
• 2026-02-21 Listed for Rent $1,599 Tricon
• 1993-09-13 Sold (Public Records) $75,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $3,204 · +1.0% YoY. Source: county tax records.