2028 Frank Ln SE · Smyrna, GA 30060

$225,000

3 bd · 1.0 ba · 1,004 sqft · SingleFamily public records · 1 Days on market

Built 1957 0.45 ac lot $224/sqft · 25% below area Est $301k · 25% under ↓ 7% since listing

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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 +8.8/30.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

An exceptional investor opportunity awaits at 2028 Frank Lane SE, a 3-bedroom ranch strategically positioned on the Smyrna-Marietta line. Priced significantly below market averages to allow for immediate equity, this property sits in a high-demand growth corridor just minutes from the Smyrna Market Village, The Battery, and major 2026 downtown redevelopments. Savvy buyers will recognize the immense value-add potential on this oversized 0.45-acre corner lot. Run the comps and bring your offer before this "Smyrna-adjacent" gem is gone.

Key facts

• 0.45 acre lot
• Garage
• Built 1957

Property features AI

Exterior

• Parking: Attached garage; Driveway; Garage (1 garage space); Open parking available
• Utilities: Public water; Public sewer; 110 volt electric; Cable available; Electricity available; Natural gas available; Phone available; Sewer available; Water available
• Home design: One level; Fixer condition
• Construction: Composition roof; Block foundation; Other construction materials
• Exterior features: Deck; Front porch; Crawl space basement

Interior

• Kitchen: Kitchen includes other features; Separate dining room
• Bedrooms: Three bedrooms on the main level; Master bedroom on main
• Flooring: Hardwood flooring; Laminate flooring
• Bathrooms: One full bathroom on the main level; Master bathroom with other features
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No common walls; Other interior features
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (14.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (26.7% below list).
• Recommended offer: $165k (26.7% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.5% in Smyrna — 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 76/100 on livability (#27 in GA, #3,621 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, commute A-; Watch: cost of living C-, amenities F.
• Cobb County (suburban): math 39% / reading 45% proficiency, ranked #25 of 174 in GA (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Belmont Hills Elementary School (math 22% / reading 22%, grade F, #810 of 1,228 statewide, top 69%, 279 students, 89% FRL); Pearson Middle School (860 students, 90% FRL); Osborne High School (math 9% / reading 12%, grade F, #348 of 424 statewide, top 83%, 2,772 students, 75% FRL) — zoned schools average 84% FRL vs 39% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 42% district-wide (-26 pts) — the specific schools serving this property underperform the Cobb County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.5%/yr); 192 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,625 units permitted in Cobb County in 2024 (389 in 5+ unit buildings).

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.
• Cobb County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,826 (26.7% 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. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.73% ✗
• Cap rate: 5.31%
• Cash-on-cash: -3.52%
• DSCR: 0.84
• GRM: 11.4

CMA / ARV

• ARV (median comp): $300,829
• List price: $225,000
• Delta: -25.21%
• 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
2028 Frank Ln SE	0.00mi	3/1.0	1,004 (0%)	1mo	$212,000	$211	99
2044 Panstone Ct SW	0.54mi	3/1.0	984 (-2%)	1mo	$215,000	$218	71
2356 Wynona Dr SE	0.53mi	3/1.0	960 (-4%)	1mo	$297,000	$309	67
90 Pat Mell Rd SW	0.54mi	3/1.0	984 (-2%)	9mo	$267,000	$271	64
107 Gladstone Dr SW	0.61mi	3/1.0	984 (-2%)	11mo	$235,000	$239	59
456 Windy Hill Rd SE	0.62mi	3/1.5	1,066 (+6%)	2mo	$273,000	$256	57
2125 Lynn Dr SW	0.71mi	3/1.0	996 (-1%)	12mo	$293,000	$294	56
398 Windy Hill Rd SE	0.62mi	3/1.0	1,066 (+6%)	12mo	$270,000	$253	51
420 Warner St SE	0.47mi	3/2.0	1,150 (+14%)	2mo	$320,000	$278	48
575 San Fernando Dr SE	0.72mi	3/1.0	1,119 (+12%)	8mo	$298,000	$266	41
1927 Alexander St SE	0.61mi	3/2.0	1,136 (+13%)	12mo	$375,000	$330	36
581 Taylor Dr SE	0.70mi	2/2.0 (-1)	864 (-14%)	12mo	$320,000	$370	25

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 · 1.54% rent growth · sell at horizon

5-year hold

• IRR: -23.8%
• Equity multiple: 0.20×
• Total profit: $-50,641
• Equity at exit: $33,548

10-year hold

• IRR: -23.1%
• Equity multiple: -0.09×
• Total profit: $-68,841
• Equity at exit: $19,454

Cash invested: $63,000 (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 30060

• Rents YoY: 1.5%
• Active inventory: 192
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,648 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$213 /mo · $2,560/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $-185

Break-even live

Break-even rent $1,882

Max offer price $192,333

Occupancy floor —

Sensitivity live

Price	-10% $-58	-5% $-121	+0% $-185	+5% $-249	+10% $-312
Rent	-10% $-315	-5% $-250	+0% $-185	+5% $-120	+10% $-55
Rate	-1.0pp $-72	-0.5pp $-128	base $-185	+0.5pp $-243	+1.0pp $-303

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
171 Evening Star Dr SE Marietta, GA	4.0	1.0	1022	$1,294	$1.27	21d	1	0.24mi
1937 Casey Dr SE Marietta, GA	3.0	2.0	1080	$2,050	$1.90	19d	1	0.33mi
6002 Pat Mell Pl SE Smyrna, GA	2.0	2.5	1320	$1,950	$1.48	19d	1	0.42mi
2300 Benson Poole Rd SE Smyrna, GA	1.0–2.0	1.0	788	$1,399	$1.78	3d	6	0.43mi
2016 Olive Springs Rd SE Marietta, GA	2.0	1.0	860	$1,450	$1.69	13d	2	0.44mi
161 Larose Cir SE Marietta, GA	3.0	2.0	1200	$1,845	$1.54	25d	1	0.51mi
137 Burke St Unit C0137-A Marietta, GA	2.0	1.0	900	$1,099	$1.22	25d	1	0.52mi
1901 Old Concord Rd SE Smyrna, GA	2.0–3.0	1.0–2.0	1145	$1,935	$1.69	2d	28	0.54mi
1731 Sams St Unit C1731-G Marietta, GA	2.0	1.0	900	$1,099	$1.22	21d	1	0.54mi
1731 Sams St SE Marietta, GA	2.0	1.0	900	$1,099	$1.22	44d	1	0.54mi
134 Summer Crest Pl SW Marietta, GA	3.0	2.0	1412	$2,055	$1.46	4d	1	0.66mi
2064 Gober Ave SE Smyrna, GA	2.0	2.0	1149	$2,300	$2.00	44d	1	0.67mi
605 Green Acres Rd SE Smyrna, GA	2.0	1.0	1058	$1,650	$1.56	5d	1	0.70mi
1560 Sams St SE Marietta, GA	3.0	2.0	1118	$2,550	$2.28	44d	1	0.83mi
331 Smyrna Powder Springs Rd SE Smyrna, GA	3.0	2.0	1431	$2,200	$1.54	21d	1	0.86mi
1547 Joyner Ave SE Marietta, GA	2.0	1.0	786	$1,400	$1.78	5d	1	0.87mi
1549 Knox Dr SE Marietta, GA	1.0–2.0	1.0	725	$1,175	$1.62	2d	4	0.88mi
1772 Martin Pl SE Unit B Smyrna, GA	2.0	1.0	816	$1,095	$1.34	19d	1	0.90mi
1788 Austell Rd SW Marietta, GA	1.0–2.0	1.0	948	$1,450	$1.53	5d	9	0.91mi
170 Smyrna Powder Springs Rd SE Smyrna, GA	1.0–2.0	1.0	770	$1,150	$1.49	3d	18	0.94mi
740 Mozley Dr SE Unit B6 Smyrna, GA	2.0	1.0	750	$1,395	$1.86	44d	1	1.00mi
740 Mozley Dr SE Smyrna, GA	2.0	1.0	750	$1,395	$1.86	25d	1	1.00mi
1940 Atlanta Rd SE Smyrna, GA	1.0–2.0	1.0	830	$1,234	$1.49	3d	6	1.03mi
123 Saine Dr SW Apt 202 Marietta, GA	2.0	1.5	1140	$1,395	$1.22	44d	1	1.04mi
123 Saine Dr SW Marietta, GA	2.0	1.5	1140	$1,395	$1.22	11d	1	1.04mi
640 Glendale Pl SE Smyrna, GA	1.0–2.0	1.0–1.5	1025	$1,348	$1.32	5d	2	1.11mi
2050 Austell Rd SW Marietta, GA	1.0–4.0	1.0–2.0	1172	$1,892	$1.61	1d	29	1.15mi
1215 Oakplace Dr SW Unit D Marietta, GA	2.0	2.0	1100	$1,395	$1.27	44d	1	1.15mi
1215 Oakplace Dr SW Apt C Marietta, GA	2.0	1.0	800	$1,295	$1.62	44d	1	1.15mi
1215 Oakplace Dr SW Apt C Marietta, GA	2.0	1.0	800	$1,295	$1.62	25d	1	1.15mi
218 Walthall Ave SE Marietta, GA	2.0	1.0	955	$1,199	$1.26	15d	3	1.23mi
218 Walthall Ave SE Unit C08 Marietta, GA	2.0	1.0	955	$1,199	$1.26	25d	1	1.23mi
2780 Hall Dr SE Smyrna, GA	4.0	2.0	1216	$2,395	$1.97	17d	1	1.23mi
915 Woodland Trl SE Smyrna, GA	1.0–2.0	1.0–1.5	962	$1,449	$1.51	3d	5	1.28mi
2200 Atlanta Rd SE Smyrna, GA	1.0–2.0	1.0	950	$1,271	$1.34	1d	4	1.33mi
2665 Favor Rd SW Marietta, GA	1.0–4.0	1.0–2.5	1150	$1,755	$1.53	2d	17	1.40mi
2870 Lakemont Dr SW Unit 2870 Marietta, GA	2.0	2.5	1176	$1,300	$1.11	18d	1	1.40mi
970 Windy Hill Rd SE Smyrna, GA	1.0–3.0	1.0–2.0	1121	$2,124	$1.89	1d	7	1.41mi
191 Timber Creek Ln SW Marietta, GA	2.0	2.0	1046	$1,650	$1.58	4d	1	1.41mi
191 Timber Creek Ln SW Unit 2 Marietta, GA	2.0	2.0	1046	$1,700	$1.63	13d	1	1.42mi

Listing history 8 events

1. 2026-05-14
   status Under Contract 549-char remark

   Show marketing remark (549 chars)

   An exceptional investor opportunity awaits at 2028 Frank Lane SE, a 3-bedroom ranch strategically positioned on the Smyrna-Marietta line. Priced significantly below market averages to allow for immediate equity, this property sits in a high-demand growth corridor just minutes from the Smyrna Market Village, The Battery, and major 2026 downtown redevelopments. Savvy buyers will recognize the immense value-add potential on this oversized 0.45-acre corner lot. Run the comps and bring your offer before this "Smyrna-adjacent" gem is gone.

2. 2026-05-14
   status Pending 549-char remark

   Show marketing remark (549 chars)

   An exceptional investor opportunity awaits at 2028 Frank Lane SE, a 3-bedroom ranch strategically positioned on the Smyrna-Marietta line. Priced significantly below market averages to allow for immediate equity, this property sits in a high-demand growth corridor just minutes from the Smyrna Market Village, The Battery, and major 2026 downtown redevelopments. Savvy buyers will recognize the immense value-add potential on this oversized 0.45-acre corner lot. Run the comps and bring your offer before this "Smyrna-adjacent" gem is gone.

3. 2026-05-14
   listed $225,000 Active 549-char remark

   Show marketing remark (549 chars)

   An exceptional investor opportunity awaits at 2028 Frank Lane SE, a 3-bedroom ranch strategically positioned on the Smyrna-Marietta line. Priced significantly below market averages to allow for immediate equity, this property sits in a high-demand growth corridor just minutes from the Smyrna Market Village, The Battery, and major 2026 downtown redevelopments. Savvy buyers will recognize the immense value-add potential on this oversized 0.45-acre corner lot. Run the comps and bring your offer before this "Smyrna-adjacent" gem is gone.

4. 2026-04-24
   historical $225,000 549-char remark

   Show marketing remark (549 chars)

   An exceptional investor opportunity awaits at 2028 Frank Lane SE, a 3-bedroom ranch strategically positioned on the Smyrna-Marietta line. Priced significantly below market averages to allow for immediate equity, this property sits in a high-demand growth corridor just minutes from the Smyrna Market Village, The Battery, and major 2026 downtown redevelopments. Savvy buyers will recognize the immense value-add potential on this oversized 0.45-acre corner lot. Run the comps and bring your offer before this "Smyrna-adjacent" gem is gone.

5. 2026-04-24
   historical $225,000 549-char remark

   Show marketing remark (549 chars)

   An exceptional investor opportunity awaits at 2028 Frank Lane SE, a 3-bedroom ranch strategically positioned on the Smyrna-Marietta line. Priced significantly below market averages to allow for immediate equity, this property sits in a high-demand growth corridor just minutes from the Smyrna Market Village, The Battery, and major 2026 downtown redevelopments. Savvy buyers will recognize the immense value-add potential on this oversized 0.45-acre corner lot. Run the comps and bring your offer before this "Smyrna-adjacent" gem is gone.

6. 2026-04-06
   historical
7. 2026-03-12
   price $225,000
8. 2026-02-17
   listed $229,000 New

ⓘ 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: $2,560 · $213/mo
• Projected year-2 tax: $2,560 · $213/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,779
• − Mortgage interest: −$12,603
• − Property taxes: −$2,560
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − Depreciation: −$6,545
• Taxable loss: −$6,220
• Est. tax savings @ 24.0%: +$1,493
• After-tax cash flow: $-726/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: Cobb County
• NCES district ID: 1301290
• Math proficiency: 39% ▼ -15.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $68,845
• Composite: 37.93/100
• National rank: #4308
• State rank: #25 of 174 in GA

Livability — Smyrna

• Score: 76/100
• State rank: #27
• US rank: #3621

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cobb County · 777,758 people
• City population: 80,612
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 38,499
• Household income: $67,510
• Rent vs Own: 51.4% rent · 48.6% own
• Severe rent burden: 1368.0

Population outlook (Cobb County) Hauer SSP2

• Today (2025): 868,385 people
• By 2030: 929,614 · +7.1%
• By 2040: 1,047,533 · +20.6%
• By 2050: 1,155,537 · +33.1%
• By 2075: 1,405,030 · +61.8%
• By 2100: 1,555,058 · +79.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 39% Black 28% White 26% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Hispanic 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 58% English-only · Spanish 37% Vietnamese 1% French/Haitian/Cajun 1%

Political lean MEDSL · Cobb

• 2024 margin: D (+14.9) · D 56.9% · R 42.0% · Other 1.1%
• 2008→2024 swing: +24.3pp toward D · 2008: -9.4pp · 2024: 14.9pp
• All cycles: 2024: D+14.9 2020: D+14.3 2016: D+2.1 2012: R+12.6 2008: R+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -440.27%
• Current HPI: 270.2922
• Rent YoY: ▲ 1.54%
• 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

-7.4% since first listed

11 events — show timeline

• 2026-06-02 Sold (Public Records) $212,000 Public Records
• 2026-05-27 Sold (MLS) $212,000 GAMLS
• 2026-05-27 Sold (MLS) $212,000 FMLS
• 2026-05-14 Pending — GAMLS
• 2026-05-14 Pending — FMLS
• 2026-05-14 Listed $225,000 FMLS
• 2026-04-24 Coming Soon $225,000 FMLS
• 2026-04-24 Coming Soon $225,000 GAMLS
• 2026-04-06 Listing Removed — GAMLS
• 2026-03-12 Price Changed $225,000 GAMLS
• 2026-02-17 Listed $229,000 GAMLS

Property tax history

+16.5%/yr

Latest (2025): $2,560 · -0.1% YoY. Source: county tax records.