3103 Fonseca Pass · South Fulton, GA 30349

$355,000

3 bd · 2.5 ba · 2,425 sqft · SingleFamily public records · 22 Days on market

Built 2013 9,147 sqft lot $146/sqft · 9% below area Est $390k · 9% under $45/mo HOA · 2% 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).

• ARV discount +11.5/15.0
• Cash flow +10.0/30.0
• Appreciation +10.0/10.0
• Schools +4.5/10.0
• DSCR +2.9/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0

Listing remarks MLS

3103 Fonseca Pass in Atlanta, Georgia offers comfort, convenience, and easy access to everything you need in a growing South Atlanta location. Just minutes from major roadways including I-285, I-85, and Camp Creek Parkway, commuting and travel throughout the metro area is simple and efficient. Enjoy nearby shopping, dining, and entertainment at Camp Creek Marketplace, plus grocery stores, fitness centers, and everyday conveniences all within a short drive. Outdoor recreation is close by at parks like Welcome All Park with trails, playgrounds, and open green space. Zoned to Fulton County Schools, this area offers access to local elementary, middle, and high schools, making it a well-rounded location for daily living. This 3 bedroom, 2.5 bath home features all bedrooms located on the upper level with carpet flooring and tray ceilings that add an elevated touch throughout. An upper level loft provides additional flexible living space, while the main level showcases a formal dining room with a coffered ceiling that adds style and character. The oversized primary suite includes dual sinks, a separate soaking tub, and spacious shower, creating a comfortable private retreat. Additional highlights include a spacious laundry room, screened rear patio, fenced backyard, and all major appliances conveying with the home. Well designed and functional, this home delivers space, comfort, and convenience in one complete package. Discounted rate options and no lender fee future refinancing may be available for qualified buyers of this home.

Key facts

• 9,147 sq ft lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $355k.

Deal economics

• At list price, monthly cash flow is $-214 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $317k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (31.7% below list).
• Recommended offer: $243k (31.7% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.6% in South Fulton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Market conditions: Rents flat; 656 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 43% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $38k of equity ($2k loan paydown + $36k 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 ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($350k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $75k; list at $355k implies a 373% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,615 (31.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.68% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.58%
• DSCR: 0.89
• GRM: 12.2

CMA / ARV

• ARV (median comp): $389,578
• List price: $355,000
• Delta: -8.88%
• 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
7434 Absinth Dr	0.16mi	4/3.0 (+1)	2,412 (-0%)	11mo	$355,000	$147	76
7737 Sylvaner Ln	0.16mi	4/3.0 (+1)	2,567 (+6%)	2mo	$354,000	$138	74
7755 Wrotham Cir	0.18mi	4/2.5 (+1)	2,238 (-8%)	3mo	$350,000	$156	72
7655 Wrotham Cir	0.27mi	4/3.0 (+1)	2,511 (+4%)	4mo	$350,000	$139	71
312 Allegrini Dr	0.17mi	4/3.0 (+1)	2,603 (+7%)	4mo	$485,000	$186	70
7466 Absinth Dr	0.09mi	4/3.0 (+1)	2,524 (+4%)	15mo	$350,000	$139	70
7565 Absinth Dr	0.15mi	4/2.5 (+1)	2,370 (-2%)	18mo	$334,900	$141	69
304 Allegrini Dr	0.15mi	4/2.5 (+1)	2,116 (-13%)	1mo	$345,000	$163	66
7545 Absinth Dr	0.13mi	4/3.0 (+1)	2,702 (+11%)	18mo	$349,900	$129	53
3005 Pebble Creek Ln	0.60mi	4/2.5 (+1)	2,483 (+2%)	16mo	$275,000	$111	50
7491 Hilltop Way	0.57mi	4/2.5 (+1)	2,715 (+12%)	10mo	$336,000	$124	40
750 Ambrose Ln	0.71mi	4/3.0 (+1)	2,690 (+11%)	10mo	$295,000	$110	33

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: 21.9%
• Equity multiple: 2.76×
• Total profit: $174,646
• Equity at exit: $319,812

10-year hold

• IRR: 19.3%
• Equity multiple: 6.19×
• Total profit: $515,561
• Equity at exit: $689,687

Cash invested: $99,400 (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: 656
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,426 high
• Mortgage (P&I): −$1,862
• Tax from tax record: −$76 /mo · $913/yr
• Insurance: −$148
• HOA: −$45
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $-214

Break-even live

Break-even rent $2,697

Max offer price $317,195

Occupancy floor —

Sensitivity live

Price	-10% $-13	-5% $-114	+0% $-214	+5% $-314	+10% $-415
Rent	-10% $-406	-5% $-310	+0% $-214	+5% $-118	+10% $-22
Rate	-1.0pp $-35	-0.5pp $-124	base $-214	+0.5pp $-306	+1.0pp $-400

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7445 Absinth Dr Atlanta, GA	3.0	2.5	2329	$2,850	$1.22	25d	1	0.18mi
7622 Absinth Dr Atlanta, GA	3.0	2.5	2122	$2,535	$1.19	45d	1	0.28mi
3075 Pebble Creek Ln Atlanta, GA	4.0	2.5	2128	$2,290	$1.08	23d	1	0.56mi
7510 Old Chapel Atlanta, GA	4.0	2.5	2469	$2,595	$1.05	45d	1	0.64mi
3225 Blackwood Ln Atlanta, GA	4.0	2.5	3200	$2,500	$0.78	45d	1	0.65mi
3225 Blackwood Ln Atlanta, GA	4.0	2.5	3011	$2,500	$0.83	25d	1	0.65mi
3171 Redwood Run Atlanta, GA	2.0	1.0	1938	$1,500	$0.77	45d	1	0.93mi

HOA detail

• Monthly dues: $45 · $540/yr
• Likely covers: landscapinggym

Listing history 10 events

1. 2026-06-07
   statusdays on market $355,000 Pending 22 DOM
2. 2026-06-04
   days on market $355,000 Active Under Contract 21 DOM
3. 2026-06-03
   days on market $355,000 Active Under Contract 20 DOM
4. 2026-06-01
   days on market $355,000 Active Under Contract 18 DOM
5. 2026-05-31
   days on market $355,000 Active Under Contract 17 DOM
6. 2026-05-14
   listed $365,000 Active 1548-char remark

   Show marketing remark (1661 chars)

   3103 Fonseca Pass in Atlanta, Georgia offers comfort, convenience, and easy access to everything you need in a growing South Atlanta location. Just minutes from major roadways including I-285, I-85, and Camp Creek Parkway, commuting and travel throughout the metro area is simple and efficient. Enjoy nearby shopping, dining, and entertainment at Camp Creek Marketplace, plus grocery stores, fitness centers, and everyday conveniences all within a short drive. Outdoor recreation is close by at parks like Welcome All Park with trails, playgrounds, and open green space. Zoned to Fulton County Schools, this area offers access to local elementary, middle, and high schools, making it a well-rounded location for daily living. This 3 bedroom, 2.5 bath home features all bedrooms located on the upper level with carpet flooring and tray ceilings that add an elevated touch throughout. An upper level loft provides additional flexible living space, while the main level showcases a formal dining room with a coffered ceiling that adds style and character. The oversized primary suite includes dual sinks, a separate soaking tub, and spacious shower, creating a comfortable private retreat. Additional highlights include a spacious laundry room, screened rear patio, fenced backyard, and all major appliances conveying with the home. Well designed and functional, this home delivers space, comfort, and convenience in one complete package. Discounted rate options and no lender fee future refinancing may be available for qualified buyers of this home. Discounted rate options and no lender fee future refinancing may be available for qualified buyers of this home.

7. 2026-05-14
   listed $365,000 New 1661-char remark

   Show marketing remark (1661 chars)

   3103 Fonseca Pass in Atlanta, Georgia offers comfort, convenience, and easy access to everything you need in a growing South Atlanta location. Just minutes from major roadways including I-285, I-85, and Camp Creek Parkway, commuting and travel throughout the metro area is simple and efficient. Enjoy nearby shopping, dining, and entertainment at Camp Creek Marketplace, plus grocery stores, fitness centers, and everyday conveniences all within a short drive. Outdoor recreation is close by at parks like Welcome All Park with trails, playgrounds, and open green space. Zoned to Fulton County Schools, this area offers access to local elementary, middle, and high schools, making it a well-rounded location for daily living. This 3 bedroom, 2.5 bath home features all bedrooms located on the upper level with carpet flooring and tray ceilings that add an elevated touch throughout. An upper level loft provides additional flexible living space, while the main level showcases a formal dining room with a coffered ceiling that adds style and character. The oversized primary suite includes dual sinks, a separate soaking tub, and spacious shower, creating a comfortable private retreat. Additional highlights include a spacious laundry room, screened rear patio, fenced backyard, and all major appliances conveying with the home. Well designed and functional, this home delivers space, comfort, and convenience in one complete package. Discounted rate options and no lender fee future refinancing may be available for qualified buyers of this home. Discounted rate options and no lender fee future refinancing may be available for qualified buyers of this home.

8. 2026-04-21
   historical $365,000 1661-char remark

   Show marketing remark (1548 chars)

   3103 Fonseca Pass in Atlanta, Georgia offers comfort, convenience, and easy access to everything you need in a growing South Atlanta location. Just minutes from major roadways including I-285, I-85, and Camp Creek Parkway, commuting and travel throughout the metro area is simple and efficient. Enjoy nearby shopping, dining, and entertainment at Camp Creek Marketplace, plus grocery stores, fitness centers, and everyday conveniences all within a short drive. Outdoor recreation is close by at parks like Welcome All Park with trails, playgrounds, and open green space. Zoned to Fulton County Schools, this area offers access to local elementary, middle, and high schools, making it a well-rounded location for daily living. This 3 bedroom, 2.5 bath home features all bedrooms located on the upper level with carpet flooring and tray ceilings that add an elevated touch throughout. An upper level loft provides additional flexible living space, while the main level showcases a formal dining room with a coffered ceiling that adds style and character. The oversized primary suite includes dual sinks, a separate soaking tub, and spacious shower, creating a comfortable private retreat. Additional highlights include a spacious laundry room, screened rear patio, fenced backyard, and all major appliances conveying with the home. Well designed and functional, this home delivers space, comfort, and convenience in one complete package. Discounted rate options and no lender fee future refinancing may be available for qualified buyers of this home.

9. 2026-04-21
   historical $365,000 1548-char remark

   Show marketing remark (1548 chars)

   3103 Fonseca Pass in Atlanta, Georgia offers comfort, convenience, and easy access to everything you need in a growing South Atlanta location. Just minutes from major roadways including I-285, I-85, and Camp Creek Parkway, commuting and travel throughout the metro area is simple and efficient. Enjoy nearby shopping, dining, and entertainment at Camp Creek Marketplace, plus grocery stores, fitness centers, and everyday conveniences all within a short drive. Outdoor recreation is close by at parks like Welcome All Park with trails, playgrounds, and open green space. Zoned to Fulton County Schools, this area offers access to local elementary, middle, and high schools, making it a well-rounded location for daily living. This 3 bedroom, 2.5 bath home features all bedrooms located on the upper level with carpet flooring and tray ceilings that add an elevated touch throughout. An upper level loft provides additional flexible living space, while the main level showcases a formal dining room with a coffered ceiling that adds style and character. The oversized primary suite includes dual sinks, a separate soaking tub, and spacious shower, creating a comfortable private retreat. Additional highlights include a spacious laundry room, screened rear patio, fenced backyard, and all major appliances conveying with the home. Well designed and functional, this home delivers space, comfort, and convenience in one complete package. Discounted rate options and no lender fee future refinancing may be available for qualified buyers of this home.

10. 2013-06-24
    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: $913 · $76/mo
• Projected year-2 tax: $3,266 · $272/mo
• Expected delta: +$2,353/yr (+$196/mo · 257.7%)

ⓘ 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 ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $29,114
• − Mortgage interest: −$19,886
• − Property taxes: −$913
• − Insurance: −$1,775
• − Repairs & maintenance: −$2,329
• − Management: −$2,329
• − HOA: −$540
• − Depreciation: −$10,327
• Taxable loss: −$8,985
• Est. tax savings @ 24.0%: +$2,156
• After-tax cash flow: $-412/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): 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

+386.7% since first listed

5 events — show timeline

• 2026-05-14 Listed $365,000 FMLS
• 2026-05-14 Listed $365,000 GAMLS
• 2026-04-21 Coming Soon $365,000 GAMLS
• 2026-04-21 Coming Soon $365,000 FMLS
• 2013-06-24 Sold (Public Records) $75,000 Public Records

Property tax history

+10.8%/yr

Latest (2025): $913 · +4.0% YoY. Source: county tax records.