4119 Waits Ave SW · Atlanta, GA 30331

$254,900

4 bd · 3.0 ba · 3,973 sqft · SingleFamily public records · 182 Days on market

Built 2005 7,492 sqft lot $64/sqft · 43% below area Est $447k · 43% under

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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 +15.0/15.0
• Cash flow +7.2/30.0
• Livability +4.2/5.0
• 1% rule +3.7/10.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

Key facts

• Gas fireplace
• Recessed lighting
• Granite countertops

Tags

• NEW ROOF
• OPEN CONCEPT FLOOR PLAN
• GAS FIREPLACE
• GRANITE COUNTERTOPS
• BREAKFAST BAR
• RECESSED LIGHTING

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-347 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (24.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (12.5% below list).
• Recommended offer: $194k (24.0% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 3.1% in Atlanta — 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 83/100 on livability (#6 in GA, #919 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, cost of living C-.
• Atlanta Public Schools (urban): math 28% / reading 35% proficiency, ranked #80 of 174 in GA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 487 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 43% of the median local income ($63k/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 $8k of value loss. Plan a longer hold.
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 10y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,630 (24.0% 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 182 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.87% ✗
• Cap rate: 4.66%
• Cash-on-cash: -5.83%
• DSCR: 0.74
• GRM: 9.5

CMA / ARV

• ARV (median comp): $446,893
• List price: $254,900
• Delta: -42.96%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2266 Camp Ground Rd SW	0.65mi	5/3.0 (+1)	3,409 (-14%)	20mo	$211,000	$62	24

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -26.7%
• Equity multiple: 0.10×
• Total profit: $-63,975
• Equity at exit: $38,006

10-year hold

• IRR: -25.2%
• Equity multiple: -0.21×
• Total profit: $-86,519
• Equity at exit: $22,039

Cash invested: $71,372 (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 30331

• Home prices YoY: -34.2%
• Rents YoY: 2.6%
• Active inventory: 487
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,230 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$666 /mo · $7,990/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $-347

Break-even live

Break-even rent $2,669

Max offer price $193,630

Occupancy floor —

Sensitivity live

Price	-10% $-203	-5% $-275	+0% $-347	+5% $-419	+10% $-491
Rent	-10% $-523	-5% $-435	+0% $-347	+5% $-259	+10% $-171
Rate	-1.0pp $-218	-0.5pp $-282	base $-347	+0.5pp $-413	+1.0pp $-480

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3873 King Edward Trl SW Atlanta, GA	3.0	2.0	3694	$2,200	$0.60	25d	1	1.02mi

Listing history 50 events

1. 2026-06-21
   days on market $254,900 Active 182 DOM
2. 2026-06-18
   days on market $254,900 Active 179 DOM
3. 2026-06-17
   days on market $254,900 Active 178 DOM
4. 2026-06-16
   days on market $254,900 Active 177 DOM
5. 2026-06-15
   days on market $254,900 Active 176 DOM
6. 2026-06-13
   days on market $254,900 Active 174 DOM
7. 2026-06-13
   days on market $254,900 Active 173 DOM
8. 2026-06-09
   days on market $254,900 Active 170 DOM
9. 2026-06-08
   days on market $254,900 Active 169 DOM
10. 2026-06-07
    days on market $254,900 Active 168 DOM
11. 2026-06-04
    days on market $254,900 Active 165 DOM
12. 2026-06-03
    days on market $254,900 Active 164 DOM
13. 2026-06-02
    days on market $254,900 Active 163 DOM
14. 2026-06-01
    days on market $254,900 Active 162 DOM
15. 2026-05-31
    days on market $254,900 Active 161 DOM
16. 2026-05-15
    status Back On Market 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

17. 2026-05-15
    status Active 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

18. 2026-05-04
    status Under Contract 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

19. 2026-05-04
    status Pending 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

20. 2026-04-06
    price $254,900 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

21. 2026-04-06
    price $254,900 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

22. 2026-03-26
    status Back On Market 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

23. 2026-03-26
    status Active 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

24. 2026-02-11
    status Pending 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

25. 2026-02-11
    status Under Contract 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

26. 2025-12-11
    price $264,900 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

27. 2025-12-11
    price $264,900 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

28. 2025-10-24
    listed $274,900 New 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

29. 2025-10-24
    listed $274,900 Active 310-char remark

    Show marketing remark (310 chars)

    4 Bedroom 3 Bathroom home with new roof. Nice-sized living room, dining room with an open concept floor plan and a gas fireplace. Kitchen with granite countertops, breakfast bar and recessed lighting. Hardwood floors and crown moldings throughout. Owner's suite features spa-like bathroom with a whirlpool tub.

30. 2025-08-29
    historical
31. 2025-08-29
    historical
32. 2025-08-19
    listed $274,900 New
33. 2025-08-19
    listed $274,900 Active
34. 2020-09-25
    soldstatus $250,000
35. 2020-08-31
    soldstatus $250,000 Sold
36. 2020-06-23
    soldstatus $250,000 Closed
37. 2020-06-04
    status Under Contract
38. 2020-06-04
    status Pending
39. 2020-05-21
    status Back on Market
40. 2020-05-21
    status Active
41. 2020-05-17
    status Under Contract
42. 2020-05-17
    historical Active Under Contract
43. 2020-05-09
    price $250,000
44. 2020-05-09
    price $250,000
45. 2020-04-23
    listed $270,000 New
46. 2020-04-22
    listed $270,000 Active
47. 2019-06-26
    soldstatus $249,500
48. 2019-06-24
    soldstatus $249,500 Closed
49. 2019-06-24
    soldstatus $249,500 Sold
50. 2019-06-04
    status Under Contract

ⓘ 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: $7,990 · $666/mo
• Projected year-2 tax: $7,990 · $666/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 5/10 Major 6 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,764
• − Mortgage interest: −$14,278
• − Property taxes: −$7,990
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,141
• − Management: −$2,141
• − Depreciation: −$7,415
• Taxable loss: −$8,477
• Est. tax savings @ 24.0%: +$2,034
• After-tax cash flow: $-2,128/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: Atlanta Public Schools
• NCES district ID: 1300120
• Math proficiency: 28% ▼ -6.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $48,306
• Composite: 27.27/100
• National rank: #7006
• State rank: #80 of 174 in GA

Livability — Atlanta

• Score: 83/100
• State rank: #6
• US rank: #919

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlanta, GA
• County: Fulton County · 1,094,430 people
• City population: 629,525
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,567
• Household income: $62,623
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 3748.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Hispanic 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 1% 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: ▼ -106.38%
• Current HPI: 204.5402
• Rent YoY: ▲ 2.63%
• 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

+94.7% since first listed

63 events — show timeline

• 2026-05-15 Relisted — GAMLS
• 2026-05-15 Relisted — FMLS
• 2026-05-04 Pending — GAMLS
• 2026-05-04 Pending — FMLS
• 2026-04-06 Price Changed $254,900 GAMLS
• 2026-04-06 Price Changed $254,900 FMLS
• 2026-03-26 Relisted — GAMLS
• 2026-03-26 Relisted — FMLS
• 2026-02-11 Pending — FMLS
• 2026-02-11 Pending — GAMLS
• 2025-12-11 Price Changed $264,900 GAMLS
• 2025-12-11 Price Changed $264,900 FMLS
• 2025-10-24 Listed $274,900 FMLS
• 2025-10-24 Listed $274,900 GAMLS
• 2025-08-29 Listing Removed — FMLS
• 2025-08-29 Listing Removed — GAMLS
• 2025-08-19 Listed $274,900 FMLS
• 2025-08-19 Listed $274,900 GAMLS
• 2020-09-25 Sold (Public Records) $250,000 Public Records
• 2020-08-31 Sold (MLS) $250,000 GAMLS
• 2020-06-23 Sold (MLS) $250,000 FMLS
• 2020-06-04 Pending — GAMLS
• 2020-06-04 Pending — FMLS
• 2020-05-21 Relisted — GAMLS
• 2020-05-21 Relisted — FMLS
• 2020-05-17 Pending — GAMLS
• 2020-05-17 Contingent — FMLS
• 2020-05-09 Price Changed $250,000 GAMLS
• 2020-05-09 Price Changed $250,000 FMLS
• 2020-04-23 Listed $270,000 GAMLS
• 2020-04-22 Listed $270,000 FMLS
• 2019-06-26 Sold (Public Records) $249,500 Public Records
• 2019-06-24 Sold (MLS) $249,500 GAMLS
• 2019-06-24 Sold (MLS) $249,500 FMLS
• 2019-06-04 Pending — GAMLS
• 2019-06-04 Pending — FMLS
• 2019-05-20 Price Changed $249,500 GAMLS
• 2019-05-20 Price Changed $249,500 FMLS
• 2019-05-01 Price Changed $258,000 GAMLS
• 2019-04-30 Price Changed $258,000 FMLS
• 2019-04-23 Listed $260,000 GAMLS
• 2019-04-23 Listed $260,000 FMLS
• 2019-04-22 Listing Removed — GAMLS
• 2019-04-18 Price Changed $260,000 GAMLS
• 2019-03-30 Price Changed $266,900 GAMLS
• 2019-03-09 Price Changed $272,900 GAMLS
• 2019-02-08 Price Changed $279,900 GAMLS
• 2019-01-21 Listed $289,900 GAMLS
• 2018-03-28 Listing Removed — GAMLS
• 2018-03-01 Listing Removed — GAMLS
• 2018-03-01 Listed $277,900 GAMLS
• 2018-02-21 Price Changed $277,900 GAMLS
• 2017-12-29 Price Changed $284,900 GAMLS
• 2017-11-29 Listed $299,900 GAMLS
• 2017-07-20 Sold (Public Records) $126,100 Public Records
• 2017-07-10 Pending — GAMLS
• 2017-07-07 Sold (MLS) $126,000 GAMLS
• 2017-06-12 Listed $130,900 GAMLS
• 2017-06-12 Listing Removed — GAMLS
• 2016-09-06 Listing Removed — GAMLS
• 2016-03-17 Listing Removed — GAMLS
• 2016-03-16 Listed $130,900 GAMLS
• 2016-03-14 Listed $130,900 GAMLS

Property tax history

+2.4%/yr

Latest (2025): $7,990 · +4.5% YoY. Source: county tax records.