5420 Forest Downs Cir · South Fulton, GA 30349

$225,000

3 bd · 2.0 ba · 1,186 sqft · SingleFamily public records · 53 Days on market

Built 1990 0.25 ac lot $190/sqft · 13% below area Est $259k · 13% 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 +13.3/15.0
• Cash flow +11.0/30.0
• Appreciation +10.0/10.0
• Schools +4.5/10.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this well-maintained single-family home located in an established community in College Park. This property features 3 bedrooms and 2 full bathrooms with approximately 1,186 square feet of living space, offering a functional layout suitable for a variety of living needs. The home includes a comfortable living area, a kitchen with ample cabinet space, and a dining area designed for everyday use. The primary bedroom features a private bathroom, while the additional bedrooms provide flexibility for guests, a home office, or other uses. Situated on a generously sized lot, the exterior provides space for outdoor activities, gardening, or future improvements. Conveniently located near Hartsfield-Jackson Atlanta International Airport, major highways including I-285 and I-85, and a variety of shopping and dining options, this property offers accessibility to key areas throughout Metro Atlanta. This property may present an opportunity for buyers seeking a primary residence or those exploring potential income-producing use. Buyers are encouraged to verify any zoning, rental restrictions, or short-term rental guidelines.

Key facts

• 0.25 acre lot
• 3 parking spots
• Built 1990

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (17.8% below list).
• Recommended offer: $185k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.6% in South Fulton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $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.
• 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 53 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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.
• Current owner paid $120k; list at $225k implies a 88% 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 $185,060 (17.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
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: 0.82% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.77%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

• ARV (median comp): $258,587
• List price: $225,000
• Delta: -12.99%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5075 Forest Downs Ln	0.30mi	3/2.0	1,248 (+5%)	19mo	$129,000	$103	61

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: 22.4%
• Equity multiple: 2.79×
• Total profit: $112,908
• Equity at exit: $202,698

10-year hold

• IRR: 19.6%
• Equity multiple: 6.24×
• Total profit: $330,234
• Equity at exit: $437,126

Cash invested: $63,000 (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: 10.1×

Monthly cashflow live

• Estimated rent: $1,851 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-93

Break-even live

Break-even rent $1,968

Max offer price $211,550

Occupancy floor —

Sensitivity live

Price	-10% $63	-5% $-15	+0% $-93	+5% $-171	+10% $-248
Rent	-10% $-239	-5% $-166	+0% $-93	+5% $-20	+10% $53
Rate	-1.0pp $20	-0.5pp $-36	base $-93	+0.5pp $-151	+1.0pp $-211

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5480 Sierra Trl Atlanta, GA	3.0	2.5	1400	$1,845	$1.32	44d	1	0.35mi
4980 Stonewall Tell Rd Atlanta, GA	2.0	2.0	1222	$2,209	$1.81	22d	1	0.78mi
4980 Stonewall Tell Rd Atlanta, GA	2.0	2.0	1222	$2,209	$1.81	20d	1	0.78mi
5950 Stonewall Dr Unit 4 Union City, GA	3.0	1.0	1320	$1,445	$1.09	3d	1	1.06mi
5950 Stonewall Dr Unit 2 Union City, GA	3.0	1.5	1320	$1,495	$1.13	15d	1	1.06mi
5140 Highpoint Rd Apt 27 Union City, GA	2.0	2.5	1290	$1,295	$1.00	13d	1	1.10mi
4037 Ravenwood Ct Union City, GA	2.0	2.5	1394	$1,595	$1.14	25d	1	1.14mi
4037 Ravenwood Ct Union City, GA	2.0	2.5	1394	$1,625	$1.17	44d	1	1.14mi
4037 Ravenwood Ct Union City, GA	2.0	2.5	1394	$1,595	$1.14	1d	1	1.14mi
4037 Ravenwood Ct Union City, GA	2.0	2.5	1394	$1,595	$1.14	15d	1	1.14mi
4509 Ravenwood Pl Union City, GA	3.0	2.5	1394	$1,970	$1.41	13d	1	1.23mi
4122 Ravenwood Ct Union City, GA	3.0	3.0	1394	$1,849	$1.33	25d	1	1.24mi
4959 Wolfcreek Vw Atlanta, GA	3.0	2.0	1230	$1,945	$1.58	25d	1	1.34mi
4056 Robin Cir Atlanta, GA	3.0	2.5	1174	$1,895	$1.61	25d	1	1.42mi
6115 Forrest Ave Union City, GA	4.0	2.0	1368	$1,690	$1.24	44d	1	1.47mi

Listing history 29 events

1. 2026-06-09
   days on market $225,000 Active 53 DOM
2. 2026-06-08
   days on market $225,000 Active 52 DOM
3. 2026-06-07
   days on market $225,000 Active 51 DOM
4. 2026-06-04
   days on market $225,000 Active 48 DOM
5. 2026-06-03
   days on market $225,000 Active 47 DOM
6. 2026-06-01
   days on market $225,000 Active 45 DOM
7. 2026-05-31
   days on market $225,000 Active 44 DOM
8. 2026-05-15
   price $228,998 1149-char remark

   Show marketing remark (1149 chars)

   Welcome to this well-maintained single-family home located in an established community in College Park. This property features 3 bedrooms and 2 full bathrooms with approximately 1,186 square feet of living space, offering a functional layout suitable for a variety of living needs. The home includes a comfortable living area, a kitchen with ample cabinet space, and a dining area designed for everyday use. The primary bedroom features a private bathroom, while the additional bedrooms provide flexibility for guests, a home office, or other uses. Situated on a generously sized lot, the exterior provides space for outdoor activities, gardening, or future improvements. Conveniently located near Hartsfield-Jackson Atlanta International Airport, major highways including I-285 and I-85, and a variety of shopping and dining options, this property offers accessibility to key areas throughout Metro Atlanta. This property may present an opportunity for buyers seeking a primary residence or those exploring potential income-producing use. Buyers are encouraged to verify any zoning, rental restrictions, or short-term rental guidelines.

9. 2026-05-13
   price $229,998 1149-char remark

   Show marketing remark (1149 chars)

   Welcome to this well-maintained single-family home located in an established community in College Park. This property features 3 bedrooms and 2 full bathrooms with approximately 1,186 square feet of living space, offering a functional layout suitable for a variety of living needs. The home includes a comfortable living area, a kitchen with ample cabinet space, and a dining area designed for everyday use. The primary bedroom features a private bathroom, while the additional bedrooms provide flexibility for guests, a home office, or other uses. Situated on a generously sized lot, the exterior provides space for outdoor activities, gardening, or future improvements. Conveniently located near Hartsfield-Jackson Atlanta International Airport, major highways including I-285 and I-85, and a variety of shopping and dining options, this property offers accessibility to key areas throughout Metro Atlanta. This property may present an opportunity for buyers seeking a primary residence or those exploring potential income-producing use. Buyers are encouraged to verify any zoning, rental restrictions, or short-term rental guidelines.

10. 2026-04-27
    price $229,999 1149-char remark

    Show marketing remark (1149 chars)

    Welcome to this well-maintained single-family home located in an established community in College Park. This property features 3 bedrooms and 2 full bathrooms with approximately 1,186 square feet of living space, offering a functional layout suitable for a variety of living needs. The home includes a comfortable living area, a kitchen with ample cabinet space, and a dining area designed for everyday use. The primary bedroom features a private bathroom, while the additional bedrooms provide flexibility for guests, a home office, or other uses. Situated on a generously sized lot, the exterior provides space for outdoor activities, gardening, or future improvements. Conveniently located near Hartsfield-Jackson Atlanta International Airport, major highways including I-285 and I-85, and a variety of shopping and dining options, this property offers accessibility to key areas throughout Metro Atlanta. This property may present an opportunity for buyers seeking a primary residence or those exploring potential income-producing use. Buyers are encouraged to verify any zoning, rental restrictions, or short-term rental guidelines.

11. 2026-04-17
    listed $230,000 New 1149-char remark

    Show marketing remark (1149 chars)

    Welcome to this well-maintained single-family home located in an established community in College Park. This property features 3 bedrooms and 2 full bathrooms with approximately 1,186 square feet of living space, offering a functional layout suitable for a variety of living needs. The home includes a comfortable living area, a kitchen with ample cabinet space, and a dining area designed for everyday use. The primary bedroom features a private bathroom, while the additional bedrooms provide flexibility for guests, a home office, or other uses. Situated on a generously sized lot, the exterior provides space for outdoor activities, gardening, or future improvements. Conveniently located near Hartsfield-Jackson Atlanta International Airport, major highways including I-285 and I-85, and a variety of shopping and dining options, this property offers accessibility to key areas throughout Metro Atlanta. This property may present an opportunity for buyers seeking a primary residence or those exploring potential income-producing use. Buyers are encouraged to verify any zoning, rental restrictions, or short-term rental guidelines.

12. 2026-04-16
    historical $230,000 1149-char remark

    Show marketing remark (1149 chars)

    Welcome to this well-maintained single-family home located in an established community in College Park. This property features 3 bedrooms and 2 full bathrooms with approximately 1,186 square feet of living space, offering a functional layout suitable for a variety of living needs. The home includes a comfortable living area, a kitchen with ample cabinet space, and a dining area designed for everyday use. The primary bedroom features a private bathroom, while the additional bedrooms provide flexibility for guests, a home office, or other uses. Situated on a generously sized lot, the exterior provides space for outdoor activities, gardening, or future improvements. Conveniently located near Hartsfield-Jackson Atlanta International Airport, major highways including I-285 and I-85, and a variety of shopping and dining options, this property offers accessibility to key areas throughout Metro Atlanta. This property may present an opportunity for buyers seeking a primary residence or those exploring potential income-producing use. Buyers are encouraged to verify any zoning, rental restrictions, or short-term rental guidelines.

13. 2019-10-09
    soldstatus $120,000
14. 2019-10-03
    soldstatus $120,000 Closed 397-char remark

    Show marketing remark (397 chars)

    Tenant Occupied. Magnificent Buy in South Fulton Area! Investors Dream! Great tenant already in place. Never late paying rent. Much sought after Ranch Style home with Huge Den Room, living room with fireplace and dining area as well as a private back yard. New Roof and Interior Painting in last 3 years. Motivated Seller. Serious, pre-qualified inquiries only. 24 Hour Notice required to show.

15. 2019-10-03
    soldstatus $120,000 Sold

    Show marketing remark (397 chars)

    Tenant Occupied. Magnificent Buy in South Fulton Area! Investors Dream! Great tenant already in place. Never late paying rent. Much sought after Ranch Style home with Huge Den Room, living room with fireplace and dining area as well as a private back yard. New Roof and Interior Painting in last 3 years. Motivated Seller. Serious, pre-qualified inquiries only. 24 Hour Notice required to show.

16. 2019-08-28
    status Under Contract

    Show marketing remark (397 chars)

    Tenant Occupied. Magnificent Buy in South Fulton Area! Investors Dream! Great tenant already in place. Never late paying rent. Much sought after Ranch Style home with Huge Den Room, living room with fireplace and dining area as well as a private back yard. New Roof and Interior Painting in last 3 years. Motivated Seller. Serious, pre-qualified inquiries only. 24 Hour Notice required to show.

17. 2019-08-28
    status Pending 397-char remark

    Show marketing remark (397 chars)

    Tenant Occupied. Magnificent Buy in South Fulton Area! Investors Dream! Great tenant already in place. Never late paying rent. Much sought after Ranch Style home with Huge Den Room, living room with fireplace and dining area as well as a private back yard. New Roof and Interior Painting in last 3 years. Motivated Seller. Serious, pre-qualified inquiries only. 24 Hour Notice required to show.

18. 2019-08-02
    price $124,500
19. 2019-08-02
    price $127,500
20. 2019-08-01
    price $124,500 397-char remark

    Show marketing remark (397 chars)

    Tenant Occupied. Magnificent Buy in South Fulton Area! Investors Dream! Great tenant already in place. Never late paying rent. Much sought after Ranch Style home with Huge Den Room, living room with fireplace and dining area as well as a private back yard. New Roof and Interior Painting in last 3 years. Motivated Seller. Serious, pre-qualified inquiries only. 24 Hour Notice required to show.

21. 2019-08-01
    price $127,500 397-char remark

    Show marketing remark (397 chars)

    Tenant Occupied. Magnificent Buy in South Fulton Area! Investors Dream! Great tenant already in place. Never late paying rent. Much sought after Ranch Style home with Huge Den Room, living room with fireplace and dining area as well as a private back yard. New Roof and Interior Painting in last 3 years. Motivated Seller. Serious, pre-qualified inquiries only. 24 Hour Notice required to show.

22. 2019-07-16
    listed $134,500 Active 397-char remark

    Show marketing remark (397 chars)

    Tenant Occupied. Magnificent Buy in South Fulton Area! Investors Dream! Great tenant already in place. Never late paying rent. Much sought after Ranch Style home with Huge Den Room, living room with fireplace and dining area as well as a private back yard. New Roof and Interior Painting in last 3 years. Motivated Seller. Serious, pre-qualified inquiries only. 24 Hour Notice required to show.

23. 2019-07-16
    listed $134,500 New

    Show marketing remark (397 chars)

    Tenant Occupied. Magnificent Buy in South Fulton Area! Investors Dream! Great tenant already in place. Never late paying rent. Much sought after Ranch Style home with Huge Den Room, living room with fireplace and dining area as well as a private back yard. New Roof and Interior Painting in last 3 years. Motivated Seller. Serious, pre-qualified inquiries only. 24 Hour Notice required to show.

24. 2016-12-13
    historical
25. 2016-08-09
    price $84,500
26. 2016-07-20
    listed $89,500 New
27. 2007-11-16
    soldstatus $65,000
28. 2007-07-06
    listed $75,900
29. 1990-07-10
    soldstatus $69,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,207
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,777
• − Management: −$1,777
• − Depreciation: −$6,545
• Taxable loss: −$4,995
• Est. tax savings @ 24.0%: +$1,199
• After-tax cash flow: $83/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

+229.5% since first listed

22 events — show timeline

• 2026-05-15 Price Changed $228,998 GAMLS
• 2026-05-13 Price Changed $229,998 GAMLS
• 2026-04-27 Price Changed $229,999 GAMLS
• 2026-04-17 Listed $230,000 GAMLS
• 2026-04-16 Coming Soon $230,000 GAMLS
• 2019-10-09 Sold (Public Records) $120,000 Public Records
• 2019-10-03 Sold (MLS) $120,000 GAMLS
• 2019-10-03 Sold (MLS) $120,000 FMLS
• 2019-08-28 Pending — GAMLS
• 2019-08-28 Pending — FMLS
• 2019-08-02 Price Changed $124,500 GAMLS
• 2019-08-02 Price Changed $127,500 GAMLS
• 2019-08-01 Price Changed $124,500 FMLS
• 2019-08-01 Price Changed $127,500 FMLS
• 2019-07-16 Listed $134,500 GAMLS
• 2019-07-16 Listed $134,500 FMLS
• 2016-12-13 Listing Removed — GAMLS
• 2016-08-09 Price Changed $84,500 GAMLS
• 2016-07-20 Listed $89,500 GAMLS
• 2007-11-16 Sold (MLS) $65,000 FMLS
• 2007-07-06 Listed $75,900 FMLS
• 1990-07-10 Sold (Public Records) $69,500 Public Records

Property tax history

-5.0%/yr

Latest (2025): $442 · +4.7% YoY. Source: county tax records.