2351 Boone Pl · Snellville, GA 30078

$224,900

3 bd · 2.0 ba · 1,517 sqft · SingleFamily public records · 70 Days on market

Built 1989 7,405 sqft lot Est $287k · 22% 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 +12.9/30.0
• 1% rule +4.1/10.0
• DSCR +3.9/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits at this property ideal for investors or savvy buyers ready to add value. This home is being sold as-is and is perfect for a renovation, rental hold, or flip. Solid potential with the right vision, located in an established Snellville neighborhood with convenient access to shopping, schools, and major roads. Bring your contractor and imagination this is a chance to turn a fixer into a profitable investment.

Key facts

• Flip opportunity
• 7,405 sq ft lot
• 2 garage spots

Tags

• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO SCHOOLS
• RENOVATION OPPORTUNITY
• RENTAL HOLD OPPORTUNITY
• FLIP OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-17 ($-208/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (9.2% below list).
• Recommended offer: $204k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.9% in Snellville — 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 67/100 on livability (#169 in GA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A-; Watch: amenities F, commute F.
• Gwinnett County (suburban): math 39% / reading 43% proficiency, ranked #32 of 174 in GA (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Norton Elementary School (math 21% / reading 28%, grade F, #753 of 1,228 statewide, top 64%, 952 students, 77% FRL); Snellville Middle School (math 19% / reading 29%, grade F, #311 of 470 statewide, top 68%, 882 students, 75% FRL); South Gwinnett High School (math 14% / reading 8%, grade F, #347 of 424 statewide, top 82%, 2,677 students, 58% FRL) — zoned schools average 70% FRL vs 47% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 41% district-wide (-21 pts) — the specific schools serving this property underperform the Gwinnett County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 288 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,607 units permitted in Gwinnett County in 2024 (1,277 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.
• Gwinnett County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% 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 $204,239 (9.2% 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 70 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.91% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $286,713
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2351 Boone Pl	0.00mi	3/2.0	1,517 (0%)	1mo	$215,000	$142	99
2320 Boone Pl	0.04mi	3/2.0	1,532 (+1%)	11mo	$310,000	$202	87
2071 Boone Pl	0.24mi	3/2.0	1,522 (+0%)	8mo	$316,000	$208	82
2331 Georgia Ln	0.15mi	3/2.5	1,655 (+9%)	10mo	$282,500	$171	67
2249 Clairmont Cir	0.26mi	3/1.5	1,674 (+10%)	7mo	$245,000	$146	63
3451 Birchwood Trl	0.60mi	3/2.0	1,424 (-6%)	11mo	$350,000	$246	52
2430 Bankston Cir	0.73mi	3/2.0	1,641 (+8%)	1mo	$303,000	$185	52
2645 Sims Crest Ct	0.62mi	3/2.0	1,457 (-4%)	15mo	$275,900	$189	52
2645 Trotters Walk Trl	0.70mi	3/2.0	1,575 (+4%)	14mo	$225,000	$143	49
2421 Bankston Cir	0.69mi	3/2.0	1,663 (+10%)	8mo	$310,000	$186	45
2406 Tullamore Cir	0.39mi	3/2.0	1,298 (-14%)	19mo	$310,000	$239	42
3065 Wildflower Ln	0.57mi	3/2.0	1,294 (-15%)	13mo	$317,999	$246	38

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.33×
• Total profit: $-42,032
• Equity at exit: $33,533

10-year hold

• IRR: -18.2%
• Equity multiple: 0.12×
• Total profit: $-55,593
• Equity at exit: $19,445

Cash invested: $62,972 (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 30078

• Rents YoY: 0.7%
• Active inventory: 288
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,042 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$358 /mo · $4,293/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $-17

Break-even live

Break-even rent $2,064

Max offer price $221,835

Occupancy floor 96%

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2301 Boone Pl Snellville, GA	3.0	2.0	1200	$1,900	$1.58	13d	1	0.09mi
2335 Rosedale Rd Snellville, GA	2.0	2.0	1054	$1,399	$1.33	13d	1	0.22mi
2376 Rosedale Rd Snellville, GA	2.0	2.0	1250	$1,465	$1.17	21d	1	0.27mi
3186 Gallant Fox Ln Snellville, GA	4.0	2.5	1833	$2,557	$1.39	3d	1	0.36mi
3282 Highpoint Ct Snellville, GA	2.0	1.5	1116	$1,400	$1.25	24d	1	0.40mi
3447 High Quest Ln Snellville, GA	3.0	2.5	1833	$2,453	$1.34	3d	1	0.44mi
2260 Parkwood Rd Snellville, GA	3.0–4.0	2.5	1843	$2,252	$1.22	1d	5	0.45mi
2891 Spruce Cir Snellville, GA	2.0	2.0	1200	$1,500	$1.25	44d	1	0.61mi
2897 Spruce Cir Snellville, GA	2.0	2.0	1200	$1,450	$1.21	4d	1	0.61mi
3092 Destin Cir Snellville, GA	3.0	3.0	1746	$2,200	$1.26	24d	1	0.61mi
3092 Destin Cir Unit 3 Snellville, GA	3.0	2.5	1746	$2,200	$1.26	44d	1	0.61mi
2930 Spruce Cir Snellville, GA	3.0	2.5	1700	$1,800	$1.06	44d	1	0.63mi
2600 Trotters Walk Trl Snellville, GA	3.0	2.0	1420	$1,955	$1.38	2d	1	0.63mi
2371 Bankston Cir Snellville, GA	3.0	2.0	1784	$2,050	$1.15	24d	1	0.65mi
3054 Destin Cir Snellville, GA	3.0	2.0	1600	$2,150	$1.34	20d	1	0.67mi
3059 Destin Cir Snellville, GA	3.0	2.5	1600	$2,150	$1.34	44d	1	0.69mi
3032 Destin Cir Snellville, GA	3.0	2.5	1700	$1,350	$0.79	5d	1	0.70mi
2543 Mistletoe Ln Snellville, GA	3.0	2.0	1086	$1,819	$1.67	3d	1	0.79mi
2503 Hewatt Rd Snellville, GA	3.0	2.0	1112	$1,829	$1.64	19d	1	0.93mi
2675 Wildflower Ln Snellville, GA	3.0	2.0	1308	$1,899	$1.45	44d	1	0.93mi
2524 Holly Berry Trl Snellville, GA	3.0	2.0	1222	$1,811	$1.48	44d	1	1.00mi
2124 Oakland Spring Dr Snellville, GA	3.0	2.5	1446	$1,915	$1.32	5d	1	1.05mi
2104 Oakland Spring Dr Snellville, GA	3.0	2.0	1484	$1,410	$0.95	24d	1	1.05mi
3085 Clear View Dr Snellville, GA	3.0	2.5	1968	$2,050	$1.04	44d	1	1.06mi
3617 Oakland Spring Ct Snellville, GA	3.0	2.0	1512	$1,935	$1.28	24d	1	1.08mi
2349 Valley Way Snellville, GA	2.0	2.0	1400	$1,800	$1.29	24d	1	1.10mi
3421 Open Fields Dr Snellville, GA	3.0	2.5	1992	$2,300	$1.15	44d	1	1.11mi
3421 Open Fields Dr Snellville, GA	3.0	2.5	1992	$2,300	$1.15	5d	1	1.11mi
2010 Lisa Springs Dr Snellville, GA	4.0	2.5	2234	$2,400	$1.07	44d	1	1.11mi
2868 Rocky Pointe Way Snellville, GA	3.0	2.0	1782	$1,538	$0.86	5d	1	1.15mi
2568 Congaree Park Snellville, GA	3.0	2.5	1579	$2,150	$1.36	44d	1	1.16mi
3302 Glynn Mill Dr Snellville, GA	4.0	2.0	1616	$1,100	$0.68	5d	1	1.19mi
2866 Manor Ct Snellville, GA	3.0	2.0	1984	$1,900	$0.96	44d	1	1.29mi
2928 Ashly Brooke Ct Snellville, GA	4.0	2.5	1416	$1,895	$1.34	44d	1	1.33mi
1501 Wiloaks Dr Snellville, GA	1.0–3.0	1.0–2.0	981	$1,820	$1.85	24d	1	1.35mi
2979 Trotters Crest Dr Snellville, GA	3.0	2.0	1456	$1,945	$1.34	17d	1	1.37mi
3935 Willowmeade Dr Snellville, GA	3.0	2.0	1650	$1,980	$1.20	2d	1	1.42mi
2755 Hickory Cir Snellville, GA	3.0	2.0	2071	$2,015	$0.97	5d	1	1.46mi
3385 Revere Cir Snellville, GA	3.0	2.0	1960	$1,945	$0.99	13d	1	1.46mi

Listing history 16 events

1. 2026-04-06
   status Under Contract 428-char remark

   Show marketing remark (428 chars)

   Opportunity awaits at this property ideal for investors or savvy buyers ready to add value. This home is being sold as-is and is perfect for a renovation, rental hold, or flip. Solid potential with the right vision, located in an established Snellville neighborhood with convenient access to shopping, schools, and major roads. Bring your contractor and imagination this is a chance to turn a fixer into a profitable investment.

2. 2026-04-06
   status Pending

   Show marketing remark (428 chars)

   Opportunity awaits at this property ideal for investors or savvy buyers ready to add value. This home is being sold as-is and is perfect for a renovation, rental hold, or flip. Solid potential with the right vision, located in an established Snellville neighborhood with convenient access to shopping, schools, and major roads. Bring your contractor and imagination this is a chance to turn a fixer into a profitable investment.

3. 2026-03-28
   price $224,900 428-char remark

   Show marketing remark (428 chars)

   Opportunity awaits at this property ideal for investors or savvy buyers ready to add value. This home is being sold as-is and is perfect for a renovation, rental hold, or flip. Solid potential with the right vision, located in an established Snellville neighborhood with convenient access to shopping, schools, and major roads. Bring your contractor and imagination this is a chance to turn a fixer into a profitable investment.

4. 2026-03-28
   price $224,900

   Show marketing remark (428 chars)

   Opportunity awaits at this property ideal for investors or savvy buyers ready to add value. This home is being sold as-is and is perfect for a renovation, rental hold, or flip. Solid potential with the right vision, located in an established Snellville neighborhood with convenient access to shopping, schools, and major roads. Bring your contractor and imagination this is a chance to turn a fixer into a profitable investment.

5. 2026-02-24
   price $239,900 428-char remark

   Show marketing remark (428 chars)

   Opportunity awaits at this property ideal for investors or savvy buyers ready to add value. This home is being sold as-is and is perfect for a renovation, rental hold, or flip. Solid potential with the right vision, located in an established Snellville neighborhood with convenient access to shopping, schools, and major roads. Bring your contractor and imagination this is a chance to turn a fixer into a profitable investment.

6. 2026-02-24
   price $239,900

   Show marketing remark (428 chars)

   Opportunity awaits at this property ideal for investors or savvy buyers ready to add value. This home is being sold as-is and is perfect for a renovation, rental hold, or flip. Solid potential with the right vision, located in an established Snellville neighborhood with convenient access to shopping, schools, and major roads. Bring your contractor and imagination this is a chance to turn a fixer into a profitable investment.

7. 2026-01-26
   listed $249,900 New 428-char remark

   Show marketing remark (428 chars)

   Opportunity awaits at this property ideal for investors or savvy buyers ready to add value. This home is being sold as-is and is perfect for a renovation, rental hold, or flip. Solid potential with the right vision, located in an established Snellville neighborhood with convenient access to shopping, schools, and major roads. Bring your contractor and imagination this is a chance to turn a fixer into a profitable investment.

8. 2026-01-26
   listed $249,900 Active

   Show marketing remark (428 chars)

   Opportunity awaits at this property ideal for investors or savvy buyers ready to add value. This home is being sold as-is and is perfect for a renovation, rental hold, or flip. Solid potential with the right vision, located in an established Snellville neighborhood with convenient access to shopping, schools, and major roads. Bring your contractor and imagination this is a chance to turn a fixer into a profitable investment.

9. 2025-12-15
   historical $2,599
10. 2025-12-11
    price $2,599
11. 2025-12-07
    price $2,619
12. 2025-12-02
    price $2,669
13. 2025-11-20
    listed $2,749
14. 2024-11-21
    soldstatus $13,123,500
15. 2005-05-05
    soldstatus $129,100
16. 1998-10-15
    soldstatus $91,900

ⓘ 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: $4,293 · $358/mo
• Projected year-2 tax: $4,293 · $358/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 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,509
• − Mortgage interest: −$12,598
• − Property taxes: −$4,293
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − Depreciation: −$6,543
• Taxable loss: −$3,970
• Est. tax savings @ 24.0%: +$953
• After-tax cash flow: $745/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: Gwinnett County
• NCES district ID: 1302550
• Math proficiency: 39% ▼ -15.00%
• Reading proficiency: 43% ▼ -10.00%
• Median HH income: $62,416
• Composite: 36.5/100
• National rank: #4648
• State rank: #32 of 174 in GA

Livability — Snellville

• Score: 67/100
• State rank: #169
• US rank: #10705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Gwinnett County · 952,346 people
• City population: 94,380
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 41,597
• Household income: $98,257
• Rent vs Own: 17.4% rent · 82.6% own
• Severe rent burden: 537.0

Population outlook (Gwinnett County) Hauer SSP2

• Today (2025): 1,106,028 people
• By 2030: 1,211,414 · +9.5%
• By 2040: 1,422,277 · +28.6%
• By 2050: 1,623,204 · +46.8%
• By 2075: 2,105,240 · +90.3%
• By 2100: 2,443,321 · +120.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 35% White 35% Asian 13% Hispanic / Latino 13% Two or more races 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 2%
• Common ancestry: Slovak 1% Hispanic 1% Lithuanian 1%
• Foreign-born: 25% · Canada, China, South Korea
• Languages at home: 68% English-only · Spanish 10% Other Asian/Pacific 4% Other Indo-European 4%

Political lean MEDSL · Gwinnett

• 2024 margin: D (+16.5) · D 57.6% · R 41.1% · Other 1.2%
• 2008→2024 swing: +26.8pp toward D · 2008: -10.2pp · 2024: 16.5pp
• All cycles: 2024: D+16.5 2020: D+18.3 2016: D+5.8 2012: R+9.4 2008: R+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -258.60%
• Current HPI: 222.8989
• Rent YoY: ▲ 0.73%
• 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

+144.7% since first listed

16 events — show timeline

• 2026-04-06 Pending — GAMLS
• 2026-04-06 Pending — FMLS
• 2026-03-28 Price Changed $224,900 GAMLS
• 2026-03-28 Price Changed $224,900 FMLS
• 2026-02-24 Price Changed $239,900 GAMLS
• 2026-02-24 Price Changed $239,900 FMLS
• 2026-01-26 Listed $249,900 FMLS
• 2026-01-26 Listed $249,900 GAMLS
• 2025-12-15 Rental Removed $2,599 Tricon
• 2025-12-11 Price Changed $2,599 Tricon
• 2025-12-07 Price Changed $2,619 Tricon
• 2025-12-02 Price Changed $2,669 Tricon
• 2025-11-20 Listed for Rent $2,749 Tricon
• 2024-11-21 Sold (Public Records) $13,123,500 Public Records
• 2005-05-05 Sold (Public Records) $129,100 Public Records
• 1998-10-15 Sold (Public Records) $91,900 Public Records

Property tax history

+6.7%/yr

Latest (2025): $4,293 · -1.0% YoY. Source: county tax records.