480 Evergreen Dr · Forest Park, GA 30297

$160,000

4 bd · 2.0 ba · 1,449 sqft · SingleFamily public records · 27 Days on market

Built 1962 0.47 ac lot $110/sqft · 19% below area Est $198k · 19% 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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.7/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity is knocking at 480 Evergreen Drive in Forest Park. Situated on a spacious corner lot just under half an acre (.468 acres), this property offers the kind of land and positioning that’s getting harder to find. The home does need some repairs, making it a great fit for investors, renovators, or buyers looking to customize a property to their own vision. With solid potential and room to add value, this is your chance to create something special without overpaying upfront. Whether you’re looking to flip, rent, or build long-term equity, the lot size and location alone make this one worth a closer look.

Key facts

• Spacious lot
• Corner lot
• 0.47 acre lot

Tags

• CORNER LOT
• SPACIOUS LOT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 5.2% in Forest Park — 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 65/100 on livability (#209 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools F, crime F, commute F.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.0%/yr); 128 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• At $1,705/mo this rent would consume 45% of the median local household income ($45k/yr) (locally 1359% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $160k implies a 191% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% 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 $157,600 (1.5% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.07% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• GRM: 7.8

CMA / ARV

• ARV (median comp): $198,284
• List price: $160,000
• Delta: -19.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
480 Evergreen Dr	0.00mi	4/2.0	1,449 (0%)	1mo	$146,500	$101	100
485 Evergreen Dr	0.05mi	3/2.0 (-1)	1,396 (-4%)	11mo	$179,500	$129	78
4298 Brookside Dr	0.32mi	3/2.0 (-1)	1,266 (-13%)	7mo	$250,000	$197	53
4491 Glade Rd	0.45mi	5/2.0 (+1)	1,256 (-13%)	4mo	$203,500	$162	49
443 Scott Blvd	0.43mi	4/1.5	1,328 (-8%)	18mo	$193,000	$145	49
4131 Tara Dr	0.33mi	3/2.0 (-1)	1,265 (-13%)	15mo	$230,000	$182	46
4647 Hendrix Dr	0.68mi	4/2.0	1,356 (-6%)	17mo	$115,000	$85	44
4546 Burks Rd	0.46mi	3/2.0 (-1)	1,252 (-14%)	23mo	$199,900	$160	32
517 Whitley Dr	0.68mi	3/2.5 (-1)	1,650 (+14%)	11mo	$235,000	$142	29
532 Hanes Dr	0.72mi	3/1.5 (-1)	1,280 (-12%)	24mo	$125,000	$98	20
862 Alpine Way	0.75mi	3/1.5 (-1)	1,638 (+13%)	20mo	$185,000	$113	19

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.71×
• Total profit: $-13,090
• Equity at exit: $23,857

10-year hold

• IRR: -3.0%
• Equity multiple: 0.83×
• Total profit: $-7,740
• Equity at exit: $13,834

Cash invested: $44,800 (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 30297

• Home prices YoY: -29.5%
• Rents YoY: -1.0%
• Active inventory: 128
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,705 high
• Mortgage (P&I): −$839
• Tax from tax record: −$161 /mo · $1,934/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $280

Break-even live

Break-even rent $1,351

Max offer price $160,000

Occupancy floor 79%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4309 Gilbert Pl Forest Park, GA	4.0	2.0	1660	$1,981	$1.19	4d	1	0.23mi
4168 Tara Dr Forest Park, GA	3.0	1.0	975	$1,299	$1.33	43d	1	0.33mi
4404 Currie Ct Forest Park, GA	3.0	2.0	1188	$1,595	$1.34	43d	1	0.37mi
729 Blueridge Dr Forest Park, GA	3.0	1.0	1150	$1,505	$1.31	5d	1	0.50mi
828 Catherine St Forest Park, GA	3.0	1.0	1040	$1,440	$1.38	43d	1	0.87mi
433 North Ave Unit 433 Forest Park, GA	3.0	2.5	1694	$1,995	$1.18	4d	1	0.95mi
1131 Stoneybrook Rd Forest Park, GA	3.0	1.0	1053	$3,400	$3.23	43d	1	1.26mi
4548 Pine Dr Forest Park, GA	3.0	1.0	963	$1,250	$1.30	12d	1	1.28mi
4522 Ridge Dr Forest Park, GA	3.0	2.0	1176	$1,450	$1.23	4d	1	1.32mi
4522 Ridge Dr Forest Park, GA	3.0	2.0	1176	$1,450	$1.23	43d	1	1.33mi
521 Granade Dr Forest Park, GA	3.0	2.0	1024	$2,400	$2.34	5d	1	1.43mi
351 Kate Dr Forest Park, GA	3.0	2.5	1415	$1,524	$1.08	11d	1	1.48mi

Listing history 9 events

1. 2026-05-15
   status Pending 630-char remark

   Show marketing remark (630 chars)

   Opportunity is knocking at 480 Evergreen Drive in Forest Park. Situated on a spacious corner lot just under half an acre (.468 acres), this property offers the kind of land and positioning that’s getting harder to find. The home does need some repairs, making it a great fit for investors, renovators, or buyers looking to customize a property to their own vision. With solid potential and room to add value, this is your chance to create something special without overpaying upfront. Whether you’re looking to flip, rent, or build long-term equity, the lot size and location alone make this one worth a closer look.

2. 2026-05-12
   historical Active Under Contract 630-char remark

   Show marketing remark (630 chars)

   Opportunity is knocking at 480 Evergreen Drive in Forest Park. Situated on a spacious corner lot just under half an acre (.468 acres), this property offers the kind of land and positioning that’s getting harder to find. The home does need some repairs, making it a great fit for investors, renovators, or buyers looking to customize a property to their own vision. With solid potential and room to add value, this is your chance to create something special without overpaying upfront. Whether you’re looking to flip, rent, or build long-term equity, the lot size and location alone make this one worth a closer look.

3. 2026-05-08
   historical Active Under Contract 618-char remark

   Show marketing remark (618 chars)

   Opportunity is knocking at 480 Evergreen Drive in Forest Park. Situated on a spacious corner lot just under half an acre (.468 acres), this property offers the kind of land and positioning that's getting harder to find. The home does need some repairs, making it a great fit for investors, renovators, or buyers looking to customize a property to their own vision. With solid potential and room to add value, this is your chance to create something special without overpaying upfront. Whether you're looking to flip, rent, or build long-term equity, the lot size and location alone make this one worth a closer look.

4. 2026-05-02
   price $160,000 618-char remark

   Show marketing remark (630 chars)

   Opportunity is knocking at 480 Evergreen Drive in Forest Park. Situated on a spacious corner lot just under half an acre (.468 acres), this property offers the kind of land and positioning that’s getting harder to find. The home does need some repairs, making it a great fit for investors, renovators, or buyers looking to customize a property to their own vision. With solid potential and room to add value, this is your chance to create something special without overpaying upfront. Whether you’re looking to flip, rent, or build long-term equity, the lot size and location alone make this one worth a closer look.

5. 2026-05-02
   price $160,000 630-char remark

   Show marketing remark (630 chars)

   Opportunity is knocking at 480 Evergreen Drive in Forest Park. Situated on a spacious corner lot just under half an acre (.468 acres), this property offers the kind of land and positioning that’s getting harder to find. The home does need some repairs, making it a great fit for investors, renovators, or buyers looking to customize a property to their own vision. With solid potential and room to add value, this is your chance to create something special without overpaying upfront. Whether you’re looking to flip, rent, or build long-term equity, the lot size and location alone make this one worth a closer look.

6. 2026-04-16
   listed $175,000 Active 630-char remark

   Show marketing remark (618 chars)

   Opportunity is knocking at 480 Evergreen Drive in Forest Park. Situated on a spacious corner lot just under half an acre (.468 acres), this property offers the kind of land and positioning that's getting harder to find. The home does need some repairs, making it a great fit for investors, renovators, or buyers looking to customize a property to their own vision. With solid potential and room to add value, this is your chance to create something special without overpaying upfront. Whether you're looking to flip, rent, or build long-term equity, the lot size and location alone make this one worth a closer look.

7. 2026-04-16
   listed $175,000 New 618-char remark

   Show marketing remark (618 chars)

   Opportunity is knocking at 480 Evergreen Drive in Forest Park. Situated on a spacious corner lot just under half an acre (.468 acres), this property offers the kind of land and positioning that's getting harder to find. The home does need some repairs, making it a great fit for investors, renovators, or buyers looking to customize a property to their own vision. With solid potential and room to add value, this is your chance to create something special without overpaying upfront. Whether you're looking to flip, rent, or build long-term equity, the lot size and location alone make this one worth a closer look.

8. 1997-10-27
   soldstatus $55,000
9. 1991-06-07
   soldstatus $37,400

ⓘ 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: $1,934 · $161/mo
• Projected year-2 tax: $1,934 · $161/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 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,459
• − Mortgage interest: −$8,962
• − Property taxes: −$1,934
• − Insurance: −$800
• − Repairs & maintenance: −$1,637
• − Management: −$1,637
• − Depreciation: −$4,655
• Taxable income: $834
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $3,159/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: Clayton County
• NCES district ID: 1301230
• Math proficiency: 11% ▼ -13.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $42,266
• Composite: 13.41/100
• National rank: #9527
• State rank: #155 of 174 in GA

Livability — Forest Park

• Score: 65/100
• State rank: #209
• US rank: #12698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest Park, GA
• County: Clayton County · 230,153 people
• City population: 29,210
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 29,210
• Household income: $45,124
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 1359.0

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 310,777 people
• By 2030: 329,762 · +6.1%
• By 2040: 368,052 · +18.4%
• By 2050: 401,196 · +29.1%
• By 2075: 472,488 · +52.0%
• By 2100: 500,446 · +61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 52% Hispanic / Latino 27% White 10% Two or more races 10% Asian 6%
• Hispanic origin (detail): Mexican 19%
• Foreign-born: 18% · Canada, Vietnam, Jamaica
• Languages at home: 67% English-only · Spanish 26% Vietnamese 5% Other Asian/Pacific 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid D (+69.2) · D 84.3% · R 15.1%
• 2008→2024 swing: +2.8pp toward D · 2008: 66.4pp · 2024: 69.2pp
• All cycles: 2024: D+69.2 2020: D+70.9 2016: D+71.9 2012: D+70.1 2008: D+66.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.04%
• Current HPI: 229.5016
• Rent YoY: ▼ -0.96%
• 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

+327.8% since first listed

9 events — show timeline

• 2026-05-15 Pending — FMLS
• 2026-05-12 Contingent — FMLS
• 2026-05-08 Contingent — GAMLS
• 2026-05-02 Price Changed $160,000 GAMLS
• 2026-05-02 Price Changed $160,000 FMLS
• 2026-04-16 Listed $175,000 GAMLS
• 2026-04-16 Listed $175,000 FMLS
• 1997-10-27 Sold (Public Records) $55,000 Public Records
• 1991-06-07 Sold (Public Records) $37,400 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,934 · +9.6% YoY. Source: county tax records.