3540 Leisure Ln · South Fulton, GA 30349

$204,900

3 bd · 2.0 ba · 1,249 sqft · SingleFamily public records · 58 Days on market

Built 1971 0.26 ac lot $164/sqft · 15% below area Est $242k · 15% 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).

• ARV discount +14.4/15.0
• Cash flow +13.9/30.0
• Appreciation +10.0/10.0
• Schools +4.5/10.0
• DSCR +4.2/10.0
• 1% rule +4.0/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This three-bedroom, two-bathroom home is located in the Point Ridge neighborhood. The interior features a huge living area that serves as the centerpiece of the home, complemented by a functional layout with a mix of carpet and tile flooring throughout. The kitchen is equipped with granite and laminate countertops and features a mix of black and stainless steel appliances. The primary bedroom includes a large walk-in closet for ample storage. For added convenience, the home features an attached one-car garage with a dedicated laundry room area located inside. Situated with easy access to major Atlanta thoroughfares, this property ensures a convenient commute to local employers and the airport. Schedule your private showing today!

Key facts

• Large walk-in closet
• Huge living area
• 0.26 acre lot

Tags

• HUGE LIVING AREA
• LARGE WALK-IN CLOSET
• ATTACHED ONE-CAR GARAGE
• DEDICATED LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $21 ($254/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 $185k (9.6% below list).
• Recommended offer: $185k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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; 651 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 33% 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 $22k of equity ($1k loan paydown + $20k 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 $57k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago 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

• 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 $185,251 (9.6% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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. 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: 0.90% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• GRM: 9.2

CMA / ARV

• ARV (median comp): $241,718
• List price: $204,900
• Delta: -15.23%
• 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
3510 Leisure Ln	0.04mi	3/2.0	1,297 (+4%)	18mo	$205,000	$158	76
3400 Flat Shoals Rd	0.42mi	3/2.0	1,238 (-1%)	8mo	$140,000	$113	72
3420 Leisure Ln	0.16mi	3/2.0	1,388 (+11%)	11mo	$225,000	$162	65
3205 Cadiz Cir	0.31mi	4/2.0 (+1)	1,309 (+5%)	16mo	$217,000	$166	60
3580 Keels Ln	0.17mi	3/2.0	1,368 (+10%)	24mo	$234,999	$172	57
245 Adena Ln W	0.36mi	4/2.0 (+1)	1,348 (+8%)	13mo	$230,000	$171	54
6470 Cedar Hurst Trl	0.39mi	4/2.5 (+1)	1,150 (-8%)	9mo	$125,000	$109	54
6850 Brown Dr S	0.59mi	3/2.0	1,344 (+8%)	20mo	$207,000	$154	43
6945 Brown Dr S	0.70mi	3/2.0	1,130 (-10%)	13mo	$190,000	$168	40
6949 Merrywood Dr	0.67mi	3/3.0	1,150 (-8%)	20mo	$205,000	$178	35
6878 Merrywood Dr	0.58mi	3/2.5	1,392 (+11%)	22mo	$265,000	$190	34
6900 Kimberly Mill Rd	0.68mi	4/2.0 (+1)	1,118 (-10%)	17mo	$229,000	$205	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 23.9%
• Equity multiple: 2.90×
• Total profit: $109,239
• Equity at exit: $184,590

10-year hold

• IRR: 20.7%
• Equity multiple: 6.47×
• Total profit: $313,740
• Equity at exit: $398,076

Cash invested: $57,372 (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: 651
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,853 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$282 /mo · $3,390/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $21

Break-even live

Break-even rent $1,826

Max offer price $204,900

Occupancy floor 94%

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
325 Pointer Ct Atlanta, GA	3.0	2.0	1474	$1,620	$1.10	5d	1	0.05mi
6440 Connell Rd Atlanta, GA	3.0	2.0	1391	$1,695	$1.22	24d	1	0.13mi
3500 Keels Ln Atlanta, GA	3.0	2.0	1272	$1,755	$1.38	2d	1	0.15mi
6445 Connell Rd Atlanta, GA	3.0	2.0	1357	$1,856	$1.37	43d	1	0.16mi
6500 Connell Rd Atlanta, GA	3.0	2.0	1483	$1,650	$1.11	24d	1	0.21mi
2560 Foxlair Trl Atlanta, GA	4.0	2.0	1485	$1,795	$1.21	24d	1	0.26mi
3800 Leisure Ln Atlanta, GA	3.0	2.0	1198	$2,350	$1.96	22d	1	0.38mi
6415 El Caudillo Ct Atlanta, GA	3.0	3.0	1498	$2,800	$1.87	4d	1	0.46mi
7045 Birling Dr Atlanta, GA	4.0	3.0	1488	$1,765	$1.19	43d	1	0.87mi
6770 Buffington Rd Union City, GA	1.0–3.0	1.0–2.0	950	$1,699	$1.79	2d	24	0.87mi
6345 Peppermill Ln Atlanta, GA	3.0	2.5	1224	$1,800	$1.47	43d	1	0.91mi
6450 Peppermill Ln Atlanta, GA	4.0	2.0	1188	$1,531	$1.29	24d	1	0.91mi
7060 Kimberly Mill Rd Atlanta, GA	3.0	1.0	1056	$1,425	$1.35	5d	1	0.95mi
2820 Greenbower Ct Atlanta, GA	3.0	2.0	1338	$1,730	$1.29	4d	1	0.98mi
4050 Morgan Rd Union City, GA	1.0–3.0	1.0–2.0	988	$1,750	$1.77	5d	21	1.11mi
3105 Garnet Way Atlanta, GA	3.0	2.0	1470	$1,660	$1.13	12d	1	1.11mi
3206 Pine Tree Trl Unit 15C Atlanta, GA	3.0	2.5	1466	$1,950	$1.33	4d	1	1.15mi
6230 Cedar Wood Dr Atlanta, GA	3.0	2.0	1238	$1,694	$1.37	43d	1	1.27mi
6560 Emerald Pointe Cir Atlanta, GA	3.0	2.0	1309	$1,500	$1.15	22d	1	1.34mi
855 Old Rocky Rd Atlanta, GA	3.0	2.0	1310	$1,710	$1.31	24d	1	1.36mi
2865 Spruce Point Rd Atlanta, GA	4.0	2.0	1050	$1,910	$1.82	43d	1	1.41mi
2667 Rocky Ct Atlanta, GA	3.0	2.5	1432	$2,200	$1.54	43d	1	1.43mi
2550 Hallie Mill Rd Atlanta, GA	3.0	2.0	1372	$1,600	$1.17	12d	1	1.44mi
2592 Rocky Ct Atlanta, GA	2.0	2.5	1424	$2,000	$1.40	43d	1	1.47mi

Listing history 26 events

1. 2026-06-18
   days on market $204,900 Active 58 DOM
2. 2026-06-17
   days on market $204,900 Active 57 DOM
3. 2026-06-16
   days on market $204,900 Active 56 DOM
4. 2026-06-15
   days on market $204,900 Active 55 DOM
5. 2026-06-13
   pricedays on market $204,900 Active 53 DOM
6. 2026-06-09
   days on market $209,900 Active 49 DOM
7. 2026-06-08
   days on market $209,900 Active 48 DOM
8. 2026-06-07
   days on market $209,900 Active 47 DOM
9. 2026-06-04
   days on market $209,900 Active 44 DOM
10. 2026-06-03
    days on market $209,900 Active 43 DOM
11. 2026-06-01
    days on market $209,900 Active 41 DOM
12. 2026-05-31
    days on market $209,900 Active 40 DOM
13. 2026-04-21
    listed $214,900 New 741-char remark

    Show marketing remark (741 chars)

    This three-bedroom, two-bathroom home is located in the Point Ridge neighborhood. The interior features a huge living area that serves as the centerpiece of the home, complemented by a functional layout with a mix of carpet and tile flooring throughout. The kitchen is equipped with granite and laminate countertops and features a mix of black and stainless steel appliances. The primary bedroom includes a large walk-in closet for ample storage. For added convenience, the home features an attached one-car garage with a dedicated laundry room area located inside. Situated with easy access to major Atlanta thoroughfares, this property ensures a convenient commute to local employers and the airport. Schedule your private showing today!

14. 2026-04-21
    listed $214,900 Active 741-char remark

    Show marketing remark (741 chars)

    This three-bedroom, two-bathroom home is located in the Point Ridge neighborhood. The interior features a huge living area that serves as the centerpiece of the home, complemented by a functional layout with a mix of carpet and tile flooring throughout. The kitchen is equipped with granite and laminate countertops and features a mix of black and stainless steel appliances. The primary bedroom includes a large walk-in closet for ample storage. For added convenience, the home features an attached one-car garage with a dedicated laundry room area located inside. Situated with easy access to major Atlanta thoroughfares, this property ensures a convenient commute to local employers and the airport. Schedule your private showing today!

15. 2022-07-07
    soldstatus $251,000
16. 2022-07-06
    soldstatus $251,000 Closed
17. 2022-07-06
    soldstatus $251,000 Sold
18. 2022-06-24
    status Pending
19. 2022-06-21
    status Pending
20. 2022-06-16
    historical Active Under Contract
21. 2022-06-16
    historical Active Under Contract
22. 2022-06-10
    listed $249,900 Active
23. 2022-06-10
    listed $249,900 New
24. 2007-06-13
    soldstatus $389,278
25. 1994-01-27
    soldstatus $63,000
26. 1980-07-29
    soldstatus $39,754

ⓘ 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: $3,390 · $282/mo
• Projected year-2 tax: $3,390 · $282/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: $22,230
• − Mortgage interest: −$11,478
• − Property taxes: −$3,390
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,778
• − Management: −$1,778
• − Depreciation: −$5,961
• Taxable loss: −$3,179
• Est. tax savings @ 24.0%: +$763
• After-tax cash flow: $1,016/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

+440.6% since first listed

14 events — show timeline

• 2026-04-21 Listed $214,900 FMLS
• 2026-04-21 Listed $214,900 GAMLS
• 2022-07-07 Sold (Public Records) $251,000 Public Records
• 2022-07-06 Sold (MLS) $251,000 GAMLS
• 2022-07-06 Sold (MLS) $251,000 FMLS
• 2022-06-24 Pending — FMLS
• 2022-06-21 Pending — FMLS
• 2022-06-16 Contingent — FMLS
• 2022-06-16 Contingent — GAMLS
• 2022-06-10 Listed $249,900 GAMLS
• 2022-06-10 Listed $249,900 FMLS
• 2007-06-13 Sold (Public Records) $389,278 Public Records
• 1994-01-27 Sold (Public Records) $63,000 Public Records
• 1980-07-29 Sold (Public Records) $39,754 Public Records

Property tax history

+7.2%/yr

Latest (2025): $3,390 · -0.0% YoY. Source: county tax records.