305 Veal Rd · Porterdale, GA 30016

$174,900

3 bd · 2.0 ba · 1,426 sqft · SingleFamily public records · 22 Days on market

Built 2002 1.43 ac lot $123/sqft · 39% below area Est $287k · 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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• Rent growth +3.0/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special! This 3BD/2BA ranch on a sprawling 1.43-acre lot in Veals Landing offers incredible potential. Built in 2002, the home features a vaulted living room with a fireplace and a primary suite on the main level. The level, fenced backyard provides ample space and privacy. Located just minutes from local schools and shopping, this property is ready for a full renovation to reach its maximum value. Bring your contractor and see the possibilities today!

Key facts

• Primary suite
• Vaulted living room
• Local schools

Tags

• SPRAWLING LOT
• VAULTED LIVING ROOM
• FENCED BACKYARD
• PRIMARY SUITE
• LOCAL SCHOOLS
• SHOPPING

Property features AI

Exterior

• Parking: Attached garage, 2 spaces; Total 2 parking spaces
• Utilities: Public water; Septic sewer; Electric service (other)
• Home design: One-story home; Resale property
• Construction: Brick construction; Composition/shingle roof; Slab foundation; Built with above-grade finished living area
• Exterior features: Fenced yard; Patio

Interior

• Kitchen: White cabinets; Laminate counters; Pantry; Dishwasher; Microwave; Refrigerator
• Bedrooms: Three bedrooms on the main level; Master on main; Roommate floor plan
• Flooring: Tile
• Bathrooms: Two full bathrooms; Master bathroom has separate tub and shower and a soaking tub
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; One fireplace in the living room
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 5.0% in Porterdale — 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 58/100 on livability (#447 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+, housing B; Watch: amenities F, commute F, employment F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Oak Hill Elementary School (math 22% / reading 32%, grade F, #689 of 1,228 statewide, top 58%, 648 students, 85% FRL); Veterans Memorial Middle School (math 12% / reading 27%, grade F, #356 of 470 statewide, top 78%, 637 students, 85% FRL); Alcovy High School (math 3% / reading 12%, grade F, #378 of 424 statewide, top 91%, 1,991 students, 55% FRL) — zoned schools average 75% FRL vs 59% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 448 active listings in the ZIP; 4 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; 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).
• This rent runs 33% of the median local income ($80k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $25k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $106k; list at $175k implies a 64% 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 $172,276 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.25% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.84%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (median comp): $286,728
• List price: $174,900
• Delta: -39.00%
• 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
15 Tara Way	0.50mi	3/2.0	1,376 (-4%)	1mo	$279,900	$203	70
35 Nicole Ct	0.72mi	3/2.0	1,414 (-1%)	1mo	$262,500	$186	64
20 Tara Way	0.47mi	3/2.0	1,458 (+2%)	15mo	$242,000	$166	62
70 Ashton Pl	0.55mi	3/2.0	1,403 (-2%)	14mo	$258,000	$184	60
130 Berkshire Dr	0.48mi	3/2.0	1,559 (+9%)	3mo	$277,000	$178	60
25 Oak Crest Ct	0.66mi	3/2.0	1,429 (+0%)	13mo	$249,000	$174	58
215 Park Place Dr	0.51mi	3/2.5	1,413 (-1%)	18mo	$285,000	$202	58
425 Berkshire Dr	0.37mi	3/2.0	1,633 (+14%)	2mo	$285,000	$175	57
50 Berkshire Run	0.35mi	3/2.0	1,264 (-11%)	14mo	$279,900	$221	53
60 Nicole Ct	0.68mi	3/2.0	1,425 (-0%)	20mo	$268,000	$188	52
20 Nicole Ct	0.75mi	3/2.0	1,440 (+1%)	22mo	$264,000	$183	46
280 Ashton Dr	0.72mi	3/2.0	1,460 (+2%)	24mo	$265,000	$182	42

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 · 1.84% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $2,537
• Equity at exit: $26,078

10-year hold

• IRR: 9.8%
• Equity multiple: 1.72×
• Total profit: $35,186
• Equity at exit: $15,122

Cash invested: $48,972 (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 30016

• Home prices YoY: -8.6%
• Rents YoY: 1.8%
• Active inventory: 448
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,188 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$214 /mo · $2,570/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $524

Break-even live

Break-even rent $1,524

Max offer price $174,900

Occupancy floor 71%

Sensitivity live

Price	-10% $623	-5% $573	+0% $524	+5% $474	+10% $425
Rent	-10% $351	-5% $438	+0% $524	+5% $610	+10% $697
Rate	-1.0pp $612	-0.5pp $568	base $524	+0.5pp $479	+1.0pp $433

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Tara Ct Covington, GA	3.0	2.0	1470	$950	$0.65	20d	1	0.44mi
20 Tara Way Covington, GA	4.0	2.0	1650	$2,150	$1.30	44d	1	0.49mi
30 Berkshire Dr Covington, GA	3.0	2.0	1853	$2,150	$1.16	6d	1	0.67mi
80 Lark Rd Covington, GA	3.0	2.0	1150	$1,790	$1.56	13d	1	1.16mi

Listing history 7 events

1. 2026-05-05
   listed $199,900 New 465-char remark

   Show marketing remark (465 chars)

   Investor special! This 3BD/2BA ranch on a sprawling 1.43-acre lot in Veals Landing offers incredible potential. Built in 2002, the home features a vaulted living room with a fireplace and a primary suite on the main level. The level, fenced backyard provides ample space and privacy. Located just minutes from local schools and shopping, this property is ready for a full renovation to reach its maximum value. Bring your contractor and see the possibilities today!

2. 2026-05-05
   listed $199,900 Active 465-char remark

   Show marketing remark (465 chars)

   Investor special! This 3BD/2BA ranch on a sprawling 1.43-acre lot in Veals Landing offers incredible potential. Built in 2002, the home features a vaulted living room with a fireplace and a primary suite on the main level. The level, fenced backyard provides ample space and privacy. Located just minutes from local schools and shopping, this property is ready for a full renovation to reach its maximum value. Bring your contractor and see the possibilities today!

3. 2013-09-16
   historical
4. 2013-08-09
   historical Pending Approval
5. 2013-08-01
   listed $89,900 New
6. 2002-10-07
   soldstatus $106,500
7. 2002-03-12
   soldstatus $19,000

ⓘ 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: $2,570 · $214/mo
• Projected year-2 tax: $2,570 · $214/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,251
• − Mortgage interest: −$9,797
• − Property taxes: −$2,570
• − Insurance: −$874
• − Repairs & maintenance: −$2,100
• − Management: −$2,100
• − Depreciation: −$5,088
• Taxable income: $3,722
• Est. tax owed @ 24.0%: −$893
• After-tax cash flow: $5,395/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: Newton County
• NCES district ID: 1303930
• Math proficiency: 17% ▼ -13.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $50,768
• Composite: 19.2/100
• National rank: #8816
• State rank: #137 of 174 in GA

Livability — Porterdale

• Score: 58/100
• State rank: #447
• US rank: #21362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Newton County · 104,393 people
• City population: 76
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,968
• Household income: $79,527
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 1172.0

Population outlook (Newton County) Hauer SSP2

• Today (2025): 118,372 people
• By 2030: 124,234 · +5.0%
• By 2040: 135,550 · +14.5%
• By 2050: 145,309 · +22.8%
• By 2075: 166,843 · +40.9%
• By 2100: 175,800 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Newton

• 2024 margin: D (+15.1) · D 57.3% · R 42.2%
• 2008→2024 swing: +14.0pp toward D · 2008: 1.2pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+10.9 2016: D+2.4 2012: D+2.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.68%
• Current HPI: 317.5605
• Rent YoY: ▲ 1.84%
• 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

+820.5% since first listed

11 events — show timeline

• 2026-06-01 Pending — GAMLS
• 2026-05-27 Pending — FMLS
• 2026-05-21 Price Changed $174,900 FMLS
• 2026-05-21 Price Changed $174,900 GAMLS
• 2026-05-05 Listed $199,900 FMLS
• 2026-05-05 Listed $199,900 GAMLS
• 2013-09-16 Listing Removed — GAMLS
• 2013-08-09 Contingent — GAMLS
• 2013-08-01 Listed $89,900 GAMLS
• 2002-10-07 Sold (Public Records) $106,500 Public Records
• 2002-03-12 Sold (Public Records) $19,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $2,570 · +0.3% YoY. Source: county tax records.