2930 Waters Rd · Atlanta, GA 30354

$125,000

3 bd · 2.0 ba · 1,008 sqft · SingleFamily public records · 414 Days on market

Built 1969 10,018 sqft lot $124/sqft · 39% below area Est $206k · 39% 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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +9.1/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is selling strictly as is to cash buyers or to investors. The home has roof damage and associated interior damage that has been caused by the roof damage. Please schedule a time to see the home via Showingtime. No blind offers, please.

Key facts

• Large level lot
• Updated flooring
• Granite countertops

Tags

• GRANITE COUNTERTOPS
• UPDATED FLOORING
• LARGE LEVEL LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 fast (+5.5%/yr); 175 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 34% 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 $864 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 414 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $95k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $79k; list at $125k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: major wind risk, 27% 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 414 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.41% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.11%
• DSCR: 1.58
• GRM: 5.9

CMA / ARV

• ARV (median comp): $205,818
• List price: $125,000
• Delta: -39.27%
• 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
419 Mount Zion Rd SW	0.53mi	3/2.0	1,032 (+2%)	5mo	$225,000	$218	68
3010 1st Ave SW	0.49mi	3/1.0	1,075 (+7%)	1mo	$182,500	$170	61
51 Springside Dr SE	0.43mi	2/1.0 (-1)	1,000 (-1%)	10mo	$165,000	$165	61
2651 Lois Ln SE	0.64mi	3/1.5	986 (-2%)	11mo	$195,000	$198	55
3218 Ward Dr SW	0.70mi	3/1.5	1,025 (+2%)	10mo	$166,000	$162	55
163 Glenrose Cir SW	0.29mi	3/1.0	1,125 (+12%)	11mo	$190,000	$169	54
3127 Latona Dr SW	0.40mi	3/1.0	1,100 (+9%)	10mo	$110,000	$100	53
3215 Pennignton Cir	0.58mi	3/2.0	1,075 (+7%)	11mo	$220,000	$205	53
3128 Waters Rd SW	0.44mi	3/1.5	1,150 (+14%)	3mo	$106,500	$93	52
157 Ruzelle Dr SE	0.63mi	3/2.0	1,102 (+9%)	10mo	$208,000	$189	47
3309 Ward Dr SW	0.62mi	2/1.0 (-1)	1,066 (+6%)	8mo	$75,000	$70	46
213 Birch St	0.49mi	3/5.5	891 (-12%)	10mo	$137,500	$154	35

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 · 5.45% rent growth · sell at horizon

5-year hold

• IRR: 6.2%
• Equity multiple: 1.25×
• Total profit: $8,683
• Equity at exit: $18,638

10-year hold

• IRR: 17.9%
• Equity multiple: 2.68×
• Total profit: $58,648
• Equity at exit: $10,808

Cash invested: $35,000 (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 30354

• Home prices YoY: -17.5%
• Rents YoY: 5.5%
• Active inventory: 175
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,766 high
• Mortgage (P&I): −$656
• Tax from tax record: −$305 /mo · $3,657/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $382

Break-even live

Break-even rent $1,281

Max offer price $125,000

Occupancy floor 73%

Sensitivity live

Price	-10% $453	-5% $418	+0% $382	+5% $347	+10% $312
Rent	-10% $243	-5% $313	+0% $382	+5% $452	+10% $522
Rate	-1.0pp $445	-0.5pp $414	base $382	+0.5pp $350	+1.0pp $317

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Baker Dr SW Atlanta, GA	3.0	2.0	1056	$1,600	$1.52	25d	1	0.15mi
3054 Waters Rd SW Atlanta, GA	3.0	1.0	891	$1,800	$2.02	8d	1	0.28mi
2959 Forrest Hills Dr SW Atlanta, GA	1.0–2.0	1.0–1.5	925	$1,250	$1.35	14d	1	0.28mi
2959 Forrest Hills Dr SW Atlanta, GA	1.0–2.0	1.0–1.5	925	$1,250	$1.35	17d	2	0.28mi
3066 Waters Rd SW Atlanta, GA	3.0	1.0	1144	$1,395	$1.22	20d	1	0.30mi
2786 Old Hapeville Rd SW Atlanta, GA	2.0	1.5	1050	$1,150	$1.10	25d	1	0.30mi
2745 Old Hapeville Rd SW Atlanta, GA	2.0–3.0	2.0	1007	$1,375	$1.36	16d	1	0.35mi
231 Maple St Atlanta, GA	3.0	2.0	1068	$1,645	$1.54	44d	1	0.45mi
278 Moreland Way Atlanta, GA	3.0	2.0	1000	$1,945	$1.95	25d	1	0.52mi
2875 3rd Ave SW Unit A Atlanta, GA	2.0	1.0	900	$1,245	$1.38	2d	1	0.53mi
436 Grady Pl Atlanta, GA	3.0	2.0	1425	$2,100	$1.47	16d	1	0.59mi
167 Alyson Ct SE Atlanta, GA	4.0	2.0	1344	$1,825	$1.36	25d	1	0.59mi
3018 Grand Ave SW Atlanta, GA	2.0	1.0	825	$1,400	$1.70	5d	1	0.62mi
210 Oak Dr SE Atlanta, GA	3.0	2.0	1330	$1,400	$1.05	25d	1	0.65mi
3188 Ward Dr SW Atlanta, GA	3.0	1.5	1025	$1,800	$1.76	12d	1	0.68mi
532 Cleveland Ave SW Atlanta, GA	2.0	1.0	836	$925	$1.11	22d	1	0.79mi
532 Cleveland Ave SW Atlanta, GA	2.0	1.0	836	$950	$1.14	15d	1	0.79mi
3301 Old Jonesboro Rd Atlanta, GA	2.0	1.0	899	$2,250	$2.50	6d	1	0.80mi
3116 Jackson St Atlanta, GA	2.0	2.0	1016	$1,900	$1.87	44d	1	0.81mi
535 Lake Dr Atlanta, GA	3.0	2.0	1080	$2,275	$2.11	44d	1	0.86mi
3287 Russell St Atlanta, GA	2.0	1.0	800	$1,195	$1.49	44d	1	0.89mi
518 North Ave Atlanta, GA	2.0	1.5	1096	$2,150	$1.96	11d	1	0.93mi
735 Oak Dr Hapeville, GA	2.0	1.0	1053	$1,550	$1.47	22d	1	0.95mi
2694 Fairlane Dr SE Atlanta, GA	4.0	2.0	1372	$2,800	$2.04	25d	1	0.96mi
488 Pomona Cir SW Atlanta, GA	3.0	1.0	1000	$1,800	$1.80	25d	1	0.98mi
136 Hillsdale Dr SE Atlanta, GA	3.0	2.0	1075	$1,995	$1.86	25d	1	1.05mi
3162 Oakdale Rd Atlanta, GA	3.0	1.0	1040	$3,200	$3.08	44d	1	1.11mi
445 Cleveland Ave SE Atlanta, GA	2.0–3.0	1.0–2.0	1014	$1,591	$1.57	2d	13	1.12mi
324 Macedonia Rd SE Atlanta, GA	3.0	1.0	1000	$1,295	$1.29	8d	1	1.12mi
2268 Polar Rock Pl SW Atlanta, GA	3.0	1.0	925	$1,575	$1.70	25d	1	1.20mi
2332 Baywood Dr SE Atlanta, GA	3.0	2.0	1100	$1,400	$1.27	18d	1	1.22mi
331 Simca St SE Atlanta, GA	3.0	1.0	1000	$1,700	$1.70	3d	1	1.28mi
2197 Polar Rock Pl SW Atlanta, GA	3.0	2.5	1000	$2,700	$2.70	21d	1	1.34mi
500 Hutchens Rd SE Atlanta, GA	4.0	2.0	1248	$2,400	$1.92	17d	1	1.38mi
397 N Central Ave Hapeville, GA	1.0–2.0	1.0–2.0	950	$2,704	$2.85	2d	24	1.42mi
2952 Palm Dr Atlanta, GA	3.0	2.0	1120	$1,875	$1.67	6d	1	1.42mi
801 N Central Ave Atlanta, GA	2.0–4.0	2.5–3.5	1586	$3,195	$2.01	3d	10	1.43mi
2145 Macon Dr SW Atlanta, GA	3.0	1.0	1059	$1,450	$1.37	25d	1	1.46mi
2801 Palm Dr Atlanta, GA	3.0	1.0	1064	$1,550	$1.46	13d	1	1.46mi
3558 Elm St Atlanta, GA	3.0	1.0–2.0	1098	$3,249	$2.96	13d	33	1.46mi

Listing history 39 events

1. 2026-06-18
   days on market $125,000 Active 414 DOM
2. 2026-06-17
   days on market $125,000 Active 413 DOM
3. 2026-06-16
   days on market $125,000 Active 412 DOM
4. 2026-06-15
   days on market $125,000 Active 411 DOM
5. 2026-06-13
   days on market $125,000 Active 409 DOM
6. 2026-06-13
   days on market $125,000 Active 408 DOM
7. 2026-06-09
   days on market $125,000 Active 405 DOM
8. 2026-06-08
   days on market $125,000 Active 404 DOM
9. 2026-06-07
   days on market $125,000 Active 403 DOM
10. 2026-06-04
    days on market $125,000 Active 400 DOM
11. 2026-06-03
    days on market $125,000 Active 399 DOM
12. 2026-06-02
    days on market $125,000 Active 398 DOM
13. 2026-06-01
    days on market $125,000 Active 397 DOM
14. 2026-05-31
    days on market $125,000 Active 396 DOM
15. 2026-04-21
    price $125,000 248-char remark

    Show marketing remark (248 chars)

    This home is selling strictly as is to cash buyers or to investors. The home has roof damage and associated interior damage that has been caused by the roof damage. Please schedule a time to see the home via Showingtime. No blind offers, please.

16. 2025-07-22
    price $205,000 248-char remark

    Show marketing remark (248 chars)

    This home is selling strictly as is to cash buyers or to investors. The home has roof damage and associated interior damage that has been caused by the roof damage. Please schedule a time to see the home via Showingtime. No blind offers, please.

17. 2025-04-30
    listed $220,000 New 248-char remark

    Show marketing remark (248 chars)

    This home is selling strictly as is to cash buyers or to investors. The home has roof damage and associated interior damage that has been caused by the roof damage. Please schedule a time to see the home via Showingtime. No blind offers, please.

18. 2020-06-19
    soldstatus $79,000
19. 2020-04-22
    historical
20. 2020-04-03
    status Back on Market
21. 2020-03-30
    historical Contingent (with Kickout)
22. 2020-03-30
    status Back on Market
23. 2020-01-10
    status Under Contract
24. 2020-01-08
    listed $82,900 New
25. 2017-04-06
    soldstatus $31,900 Sold
26. 2016-11-09
    status Under Contract
27. 2016-08-31
    price $33,500
28. 2016-07-18
    price $36,400
29. 2016-01-28
    status Back On Market
30. 2016-01-06
    historical
31. 2015-01-05
    listed $66,900 New
32. 2010-01-26
    soldstatus $9,000 Sold
33. 2009-12-22
    historical
34. 2004-09-23
    soldstatus $80,000
35. 2002-09-04
    soldstatus $84,000
36. 1989-08-03
    soldstatus $35,000
37. 1986-10-01
    soldstatus $40,000
38. 1986-09-13
    soldstatus $40,000
39. 1983-03-03
    soldstatus $32,500

ⓘ 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: $3,657 · $305/mo
• Projected year-2 tax: $3,657 · $305/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 2/10 Low
• 🌡 Heat 5/10 Major 6 d/yr ≥104°F today · 15 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,188
• − Mortgage interest: −$7,002
• − Property taxes: −$3,657
• − Insurance: −$625
• − Repairs & maintenance: −$1,695
• − Management: −$1,695
• − Depreciation: −$3,636
• Taxable income: $2,877
• Est. tax owed @ 24.0%: −$691
• After-tax cash flow: $3,899/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): 16,182
• Household income: $63,189
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 930.0

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 (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 16% White 10% Two or more races 9% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Romanian 1% Swedish 1%
• Foreign-born: 11% · Canada, Vietnam, Guatemala
• Languages at home: 81% English-only · Spanish 15% German/W. Germanic 1% Vietnamese 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: ▼ -67.78%
• Current HPI: 320.1111
• Rent YoY: ▲ 5.45%
• 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

+284.6% since first listed

25 events — show timeline

• 2026-04-21 Price Changed $125,000 GAMLS
• 2025-07-22 Price Changed $205,000 GAMLS
• 2025-04-30 Listed $220,000 GAMLS
• 2020-06-19 Sold (Public Records) $79,000 Public Records
• 2020-04-22 Listing Removed — GAMLS
• 2020-04-03 Relisted — GAMLS
• 2020-03-30 Contingent — GAMLS
• 2020-03-30 Relisted — GAMLS
• 2020-01-10 Pending — GAMLS
• 2020-01-08 Listed $82,900 GAMLS
• 2017-04-06 Sold (MLS) $31,900 GAMLS
• 2016-11-09 Pending — GAMLS
• 2016-08-31 Price Changed $33,500 GAMLS
• 2016-07-18 Price Changed $36,400 GAMLS
• 2016-01-28 Relisted — GAMLS
• 2016-01-06 Listing Removed — GAMLS
• 2015-01-05 Listed $66,900 GAMLS
• 2010-01-26 Sold (MLS) $9,000 FMLS
• 2009-12-22 Listing Removed — FMLS
• 2004-09-23 Sold (Public Records) $80,000 Public Records
• 2002-09-04 Sold (Public Records) $84,000 Public Records
• 1989-08-03 Sold (Public Records) $35,000 Public Records
• 1986-10-01 Sold (Public Records) $40,000 Public Records
• 1986-09-13 Sold (Public Records) $40,000 Public Records
• 1983-03-03 Sold (Public Records) $32,500 Public Records

Property tax history

+3.8%/yr

Latest (2025): $3,657 · -0.1% YoY. Source: county tax records.