2750 Thornbury Way · South Fulton, GA 30349

$224,900

3 bd · 2.5 ba · 2,808 sqft · SingleFamily public records · 116 Days on market

Built 1988 0.34 ac lot $80/sqft · 25% below area Est $299k · 25% under

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Why this score? — see what drove the C+ 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 +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +4.6/10.0
• 1% rule +4.5/10.0
• Schools +4.5/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious single-family 2 story home featuring 4 bedrooms and 2.5 bathroom with approximately 2,808 square feet of living space. The floor plan includes a large living area, a kitchen with ample counter and cabinet space, and a separate dining area. Bedrooms are generously sized, one is located on the main floor. Great for a guest room.

Key facts

• 0.34 acre lot
• Garage
• Built 1988

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $69 ($830/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (4.6% below list).
• Recommended offer: $205k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.6% in South Fulton — 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: area grade C — 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; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 38% 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 $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.9% rent growth), your $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $86k; list at $225k implies a 160% 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• GRM: 8.7

CMA / ARV

• ARV (median comp): $299,105
• List price: $224,900
• Delta: -24.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 0.95% rent growth · sell at horizon

5-year hold

• IRR: 24.5%
• Equity multiple: 2.95×
• Total profit: $122,630
• Equity at exit: $202,608

10-year hold

• IRR: 21.2%
• Equity multiple: 6.55×
• Total profit: $349,730
• Equity at exit: $436,931

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 30349

• Home prices YoY: 4.6%
• Rents YoY: 0.9%
• Active inventory: 656
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,146 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$353 /mo · $4,232/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $69

Break-even live

Break-even rent $2,058

Max offer price $224,900

Occupancy floor 92%

Sensitivity live

Price	-10% $196	-5% $133	+0% $69	+5% $5	+10% $-58
Rent	-10% $-100	-5% $-16	+0% $69	+5% $154	+10% $239
Rate	-1.0pp $182	-0.5pp $126	base $69	+0.5pp $11	+1.0pp $-48

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 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7156 Tanger Blvd Riverdale, GA	4.0	2.5	1984	$2,229	$1.12	3d	1	0.54mi
2565 Carolina Rdg Riverdale, GA	3.0	2.5	1963	$2,081	$1.06	0d	1	0.59mi
2625 Carolina Rdg Riverdale, GA	4.0	2.5	1936	$2,125	$1.10	21d	1	0.63mi
2372 Creel Rd Atlanta, GA	4.0	3.0	2579	$2,229	$0.86	3d	1	0.81mi
3325 Valley Bend Rd Atlanta, GA	4.0	2.0	2000	$1,995	$1.00	6d	1	0.87mi
3325 Valley Bend Rd Atlanta, GA	4.0	2.0	2000	$1,995	$1.00	17d	1	0.87mi
2328 Creel Rd Atlanta, GA	4.0	3.0	2100	$1,895	$0.90	44d	1	0.90mi
2714 Topaz Rd Riverdale, GA	4.0	2.5	2674	$2,401	$0.90	25d	1	0.91mi
6893 Estepona St Atlanta, GA	4.0	2.5	2724	$2,330	$0.86	6d	1	1.07mi
6325 Polar Fox Ct Riverdale, GA	4.0	2.5	2471	$2,445	$0.99	23d	1	1.33mi
135 Beethoven Ct Riverdale, GA	3.0	2.0	2454	$1,850	$0.75	6d	1	1.40mi

Listing history 6 events

1. 2026-06-03
   statusdays on market $224,900 Under Contract 116 DOM
2. 2026-06-01
   days on market $224,900 Active 115 DOM
3. 2026-05-31
   days on market $224,900 Active 114 DOM
4. 2026-05-08
   price $224,900 337-char remark

   Show marketing remark (337 chars)

   Spacious single-family 2 story home featuring 4 bedrooms and 2.5 bathroom with approximately 2,808 square feet of living space. The floor plan includes a large living area, a kitchen with ample counter and cabinet space, and a separate dining area. Bedrooms are generously sized, one is located on the main floor. Great for a guest room.

5. 2026-02-06
   listed $239,900 New 337-char remark

   Show marketing remark (337 chars)

   Spacious single-family 2 story home featuring 4 bedrooms and 2.5 bathroom with approximately 2,808 square feet of living space. The floor plan includes a large living area, a kitchen with ample counter and cabinet space, and a separate dining area. Bedrooms are generously sized, one is located on the main floor. Great for a guest room.

6. 1992-09-29
   soldstatus $86,500

ⓘ 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: $4,232 · $353/mo
• Projected year-2 tax: $4,232 · $353/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 6/10 Major 7 d/yr ≥105°F today · 18 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: $25,746
• − Mortgage interest: −$12,598
• − Property taxes: −$4,232
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,060
• − Management: −$2,060
• − Depreciation: −$6,543
• Taxable loss: −$2,871
• Est. tax savings @ 24.0%: +$689
• After-tax cash flow: $1,519/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

+160.0% since first listed

3 events — show timeline

• 2026-05-08 Price Changed $224,900 GAMLS
• 2026-02-06 Listed $239,900 GAMLS
• 1992-09-29 Sold (Public Records) $86,500 Public Records

Property tax history

+7.5%/yr

Latest (2025): $4,232 · -0.4% YoY. Source: county tax records.