2945 Falling Water Pt · South Fulton, GA 30349

$190,000

3 bd · 2.5 ba · 1,484 sqft · Townhouse public records · 1 Days on market

Built 2002 3,362 sqft lot Est $145k · 31% over

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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).

• Cash flow +15.4/30.0
• Appreciation +10.0/10.0
• DSCR +4.7/10.0
• Schools +4.5/10.0
• 1% rule +4.4/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

WELCOME HOME! Your search ends here with this charming and move in ready home, perfectly situated to offer both tranquility and accessibility. The frontage is set in a friendly community with no HOA fees, making it an ideal choice for first time buyers or a smart investment opportunity. Step inside to discover a thoughtfully designed layout that flows seamlessly from the front entrance. The spacious living room centers around a cozy fireplace the perfect backdrop for gatherings with family and friends. Continuing through the cozy space, you reach the heart of the layout, where the kitchen and dining area offer a functional and bright atmosphere, ready for your culinary adventures. From here, you can easily transition to the private outdoor space, providing a peaceful retreat to enjoy the quiet location. Beyond the home's immediate charm, you will love the convenience of this location. You are just moments away from the airport, a variety of restaurants, local parks, biking trails, and schools. Plus, with super quick access to both I-285 and I-85, commuting is a breeze. This gem perfectly blends modern style with exceptional convenience, and the only thing missing is you! Schedule your private tour today!

Key facts

• Access to i-85
• No hoa fees
• Access to i-285

Tags

• NO HOA FEES
• COZY FIREPLACE
• PRIVATE OUTDOOR SPACE
• QUIET LOCATION
• ACCESS TO I-285
• ACCESS TO I-85

Property features AI

Finance

• Other: City street frontage; Asphalt road surface; GPS-friendly directions
• Financial info: One unit in community
• HOA & community: Near schools; Near shopping; Near trails/greenway; Park

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; 110-volt electric; Cable available; Electricity available; Phone available
• Home design: Two levels; Fee simple ownership; Composition roof; Slab foundation
• Construction: Other construction materials; Satellite dish
• Exterior features: Private entrance; Private yard; Deck; Wood fencing

Interior

• Kitchen: Breakfast room / eat-in kitchen; Laminate counters; Dishwasher; Electric range; Gas oven; Built-in microwave; Range hood; Refrigerator
• Bedrooms: Oversized master; 2 upper-level bedrooms
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom; Master bath with separate tub and shower and soaking tub
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: High 9-ft ceilings on main and upper levels; Tray ceilings; High-speed internet available; Gas-log fireplace in the living room; End unit (common wall: end unit)
• Laundry & utility: Laundry located on upper level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $73 ($876/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 $178k (6.4% below list).
• Recommended offer: $178k (6.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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 D — 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.
• Zoned schools: Banneker High School (math 24% / reading 75%, grade D+, #28 of 424 statewide, top 7%, 1,610 students, 100% FRL) — zoned schools average 100% FRL vs 41% district-wide (59 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 651 active listings in the ZIP; 40 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 32% 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 $20k of equity ($1k loan paydown + $19k 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 $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 10y 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 $177,856 (6.4% 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. 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?
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: 0.94% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.65%
• DSCR: 1.07
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $145,432
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2560 Picardy Cir N Unit A	0.22mi	3/2.5	1,426 (-4%)	3mo	$140,000	$98	81
1016 Camelot Dr	0.24mi	3/2.0	1,449 (-2%)	6mo	$13,000	$9	78
1014 Camelot Dr	0.24mi	3/2.0	1,449 (-2%)	22mo	$70,000	$48	65
5680 Hampton Ct	0.12mi	2/2.5 (-1)	1,296 (-13%)	12mo	$200,000	$154	58
1310 Camelot Dr #1310	0.16mi	3/2.0	1,282 (-14%)	12mo	$45,500	$35	58
2555 Flat Shoals Rd #2403	0.62mi	3/2.5	1,590 (+7%)	23mo	$240,000	$151	40
2555 Flat Shoals Rd #3105	0.73mi	3/2.5	1,550 (+4%)	23mo	$250,000	$161	39

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: 24.7%
• Equity multiple: 2.97×
• Total profit: $104,571
• Equity at exit: $171,167

10-year hold

• IRR: 21.4%
• Equity multiple: 6.60×
• Total profit: $297,664
• Equity at exit: $369,128

Cash invested: $53,200 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,779 high
• Mortgage (P&I): −$996
• Tax from tax record: −$257 /mo · $3,078/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $73

Break-even live

Break-even rent $1,686

Max offer price $190,000

Occupancy floor 91%

Sensitivity live

Price	-10% $181	-5% $127	+0% $73	+5% $19	+10% $-35
Rent	-10% $-68	-5% $3	+0% $73	+5% $143	+10% $213
Rate	-1.0pp $169	-0.5pp $121	base $73	+0.5pp $24	+1.0pp $-26

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5460 Hampton Ct Atlanta, GA	2.0	3.5	1554	$1,500	$0.97	44d	1	0.02mi
5690 Hampton Ct Atlanta, GA	2.0	3.0	1184	$1,495	$1.26	44d	1	0.12mi
5410 Twin Lakes Dr Atlanta, GA	3.0	2.0	1277	$2,040	$1.60	44d	1	0.28mi
5645 Deerfield Trl Atlanta, GA	3.0	1.5	1496	$1,495	$1.00	22d	1	0.34mi
5712 Westhill Cir Atlanta, GA	4.0	2.0	1441	$1,710	$1.19	4d	1	0.34mi
2890 Jerome Rd Atlanta, GA	3.0	1.5	1229	$1,761	$1.43	44d	1	0.50mi
2500 Pleasant Hill Rd Atlanta, GA	2.0–3.0	1.5–2.5	1405	$1,449	$1.03	25d	2	0.55mi
5335 Willow Park Blvd Atlanta, GA	4.0	2.5	1716	$2,000	$1.17	44d	1	0.59mi
5370 Longmeadow Ln Atlanta, GA	3.0	2.0	1248	$1,600	$1.28	17d	1	0.64mi
6056 Carriage Ct Atlanta, GA	3.0	2.0	1400	$1,599	$1.14	6d	1	0.64mi
2555 Flat Shoals Rd #3005 Atlanta, GA	3.0	2.5	1724	$1,850	$1.07	6d	1	0.70mi
2555 Flat Shoals Rd #404 College Park, GA	3.0	2.5	1408	$1,700	$1.21	25d	1	0.71mi
2865 Spruce Point Rd Atlanta, GA	4.0	2.0	1050	$1,910	$1.82	44d	1	0.73mi
2555 Flat Shoals Rd #401 Atlanta, GA	3.0	2.5	1550	$2,050	$1.32	44d	1	0.77mi
6120 Hemperly Rd Atlanta, GA	4.0	2.5	1770	$2,100	$1.19	25d	1	0.80mi
6120 Hemperly Rd Atlanta, GA	4.0	2.5	1770	$2,100	$1.19	4d	1	0.80mi
2710 Dunmoreland Ter Atlanta, GA	3.0	1.0	1198	$1,540	$1.29	44d	1	0.84mi
6230 Cedar Wood Dr Atlanta, GA	3.0	2.0	1238	$1,694	$1.37	44d	1	0.87mi
5515 Scofield Rd Atlanta, GA	3.0	2.0	1109	$1,788	$1.61	11d	1	0.87mi
5380 Sand Bar Ln Atlanta, GA	3.0	2.0	1361	$1,961	$1.44	4d	1	0.93mi
6090 Emerald Pointe Cir Atlanta, GA	3.0	2.0	1200	$1,875	$1.56	19d	1	0.97mi
320 Emerald Green Ct Atlanta, GA	3.0	2.0	1575	$2,050	$1.30	44d	1	0.98mi
5194 Seaside Ct Atlanta, GA	4.0	2.5	1765	$2,135	$1.21	25d	1	1.00mi
5442 Scofield Rd Atlanta, GA	3.0	1.5	1368	$1,775	$1.30	44d	1	1.01mi
5750 Buffington Rd Atlanta, GA	1.0–3.0	1.0–2.0	1142	$1,702	$1.49	2d	19	1.03mi
395 Fox Trail Dr Atlanta, GA	3.0	2.0	1400	$1,980	$1.41	12d	1	1.06mi
6560 Emerald Pointe Cir Atlanta, GA	3.0	2.0	1309	$1,500	$1.15	22d	1	1.08mi
3100 Godby Rd Atlanta, GA	1.0–2.0	1.0–2.5	959	$1,395	$1.45	2d	34	1.09mi
2300 Flat Shoals Rd Unit 2 Riverdale, GA	2.0	3.0	1000	$1,425	$1.43	25d	1	1.10mi
6027 Oak Bend Ct Riverdale, GA	3.0	2.5	1530	$2,070	$1.35	6d	1	1.10mi
3110 Godby Rd Unit 15a College Park, GA	2.0	1.5	1062	$1,150	$1.08	3d	1	1.12mi
3110 Godby Rd Unit 5d College Park, GA	2.0	2.0	1016	$1,150	$1.13	2d	1	1.12mi
5740 Buffington Rd Atlanta, GA	1.0–3.0	1.0–2.5	964	$2,149	$2.23	4d	16	1.12mi
6048 Oak Bend Ct Riverdale, GA	3.0	2.5	1500	$1,750	$1.17	22d	1	1.15mi
855 Old Rocky Rd Atlanta, GA	3.0	2.0	1310	$1,710	$1.31	25d	1	1.18mi
6278 Rockaway Rd Atlanta, GA	3.0	2.5	1524	$2,000	$1.31	44d	1	1.19mi
5730 N Castlegate Dr Unit A Atlanta, GA	2.0	2.5	1125	$1,395	$1.24	44d	1	1.19mi
2883 Windsor Forrest Ct Atlanta, GA	3.0	2.5	1115	$1,895	$1.70	2d	1	1.20mi
3364 Estes Dr Atlanta, GA	3.0	2.5	1736	$1,889	$1.09	17d	1	1.22mi
6078 Oak Bend Ct Riverdale, GA	3.0	2.5	1622	$1,800	$1.11	25d	1	1.22mi

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $190,000 Active 1 DOM

ⓘ 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: $3,078 · $257/mo
• Projected year-2 tax: $3,078 · $257/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: $21,343
• − Mortgage interest: −$10,643
• − Property taxes: −$3,078
• − Insurance: −$950
• − Repairs & maintenance: −$1,707
• − Management: −$1,707
• − Depreciation: −$5,527
• Taxable loss: −$2,271
• Est. tax savings @ 24.0%: +$545
• After-tax cash flow: $1,421/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

+230.4% since first listed

30 events — show timeline

• 2026-06-15 Listed $190,000 GAMLS
• 2026-06-15 Listed $190,000 FMLS
• 2024-05-31 Sold (Public Records) $189,900 Public Records
• 2024-05-08 Sold (MLS) $189,900 GAMLS
• 2024-05-08 Sold (MLS) $189,900 FMLS
• 2024-04-19 Pending — GAMLS
• 2024-04-19 Pending — FMLS
• 2024-04-08 Listing Removed — FMLS
• 2024-04-08 Listed $189,900 GAMLS
• 2024-04-08 Listed $189,900 FMLS
• 2024-04-04 Listing Removed — GAMLS
• 2024-03-04 Listed $190,000 GAMLS
• 2024-03-04 Listed $190,000 FMLS
• 2024-02-14 Listing Removed — FMLS
• 2024-02-13 Listing Removed — GAMLS
• 2024-02-01 Relisted — GAMLS
• 2024-02-01 Relisted — FMLS
• 2024-01-31 Contingent — GAMLS
• 2024-01-31 Pending — FMLS
• 2023-12-21 Listed $194,900 GAMLS
• 2023-12-21 Listed $194,900 FMLS
• 2017-09-07 Sold (Public Records) $68,500 Public Records
• 2017-08-31 Sold (MLS) $68,500 FMLS
• 2017-08-18 Sold (MLS) $68,500 GAMLS
• 2017-08-08 Pending — GAMLS
• 2017-08-08 Contingent — FMLS
• 2017-07-25 Listed $72,900 GAMLS
• 2017-07-25 Listed $72,900 FMLS
• 2016-12-10 Listing Removed — GAMLS
• 2016-11-04 Listed $57,500 GAMLS

Property tax history

+5.3%/yr

Latest (2025): $3,078 · +6.6% YoY. Source: county tax records.