3840 Morning Creek Dr · South Fulton, GA 30349

$210,000

3 bd · 2.0 ba · 1,536 sqft · SingleFamily public records · 4 Days on market

Built 1970 0.41 ac lot $137/sqft · 24% below area Est $278k · 24% 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 +20.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.3/10.0
• Schools +4.5/10.0
• 1% rule +3.9/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome home to this charming 3-bedroom, 2-bath residence located in the heart of South Fulton! This well-maintained home features stylish no-carpet flooring throughout, offering both modern appeal and easy upkeep. Enjoy a spacious and functional layout with comfortable living areas, plenty of natural light, and an attached 2-car garage for added convenience and storage. Situated on a basement, this home offers additional space with endless possibilities for storage, a home gym, workshop, or future flex space. Sitting on just under a half-acre lot, there is plenty of outdoor space to enjoy, entertain, or expand your vision for the property. Ideally located near major highways and just minutes from Hartsfield-Jackson Atlanta International Airport, you'll enjoy quick access to shopping, dining, entertainment, and downtown Atlanta. This property is Great for an amazing homeowner or an savvy investor seeking to maximize their returns in this dynamic real estate market. Nestled close to the airport in a non-HOA community, this property presents an enticing blend of value, opportunity, and versatility. Whether you're an experienced investor looking to diversify your portfolio or a newcomer eager to embark on a profitable venture, this property holds the key to unlocking your financial aspirations. Make an offer today!

Key facts

• 0.41 acre lot
• 2 garage spots
• Built 1970

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/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 $188k (10.7% below list).
• Recommended offer: $188k (10.7% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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 B — 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; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 34% 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 + $21k 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 $59k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $210k implies a 324% 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 $187,596 (10.7% below list)

Questions for the listing agent

1. Built in 1970 — 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. 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: 0.89% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.24%
• DSCR: 1.23
• GRM: 9.3

CMA / ARV

• ARV (median comp): $278,013
• List price: $210,000
• Delta: -24.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3815 Creekview Cir	0.24mi	3/2.0	1,479 (-4%)	20mo	$263,000	$178	66
4350 Melanie Dr	0.45mi	3/2.0	1,719 (+12%)	4mo	$255,000	$148	56
100 Traverse Ct	0.48mi	3/2.0	1,650 (+7%)	15mo	$200,000	$121	53
3417 Sable Chase	0.68mi	3/2.5	1,648 (+7%)	9mo	$246,000	$149	47
3454 Carriage Chase Rd	0.74mi	3/2.5	1,603 (+4%)	12mo	$250,000	$156	46
3510 Estes Dr	0.54mi	3/2.0	1,664 (+8%)	19mo	$240,000	$144	45
5860 Feldwood Rd	0.66mi	3/2.0	1,700 (+11%)	13mo	$142,000	$84	40
3469 Carriage Chase Rd	0.69mi	3/2.5	1,654 (+8%)	18mo	$230,000	$139	38

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: 27.4%
• Equity multiple: 3.16×
• Total profit: $126,829
• Equity at exit: $189,185

10-year hold

• IRR: 23.4%
• Equity multiple: 7.01×
• Total profit: $353,336
• Equity at exit: $407,984

Cash invested: $58,800 (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 30349

• Home prices YoY: 4.6%
• Rents YoY: 0.9%
• Active inventory: 651
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,876 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$36 /mo · $437/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $257

Break-even live

Break-even rent $1,551

Max offer price $210,000

Occupancy floor 81%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3865 Morning Creek Dr Atlanta, GA	3.0	2.0	1134	$1,675	$1.48	44d	1	0.04mi
5612 Feldwood Rd Atlanta, GA	3.0	2.5	2100	$1,895	$0.90	5d	1	0.11mi
5645 Morning Creek Cir Atlanta, GA	3.0	2.0	1636	$1,565	$0.96	44d	1	0.19mi
3695 Morning Creek Dr Atlanta, GA	3.0	2.0	1491	$2,100	$1.41	44d	1	0.27mi
3715 Clearwater Dr Atlanta, GA	4.0	2.0	1482	$4,400	$2.97	44d	1	0.34mi
3550 Morning Creek Dr Atlanta, GA	4.0	2.0	1400	$1,730	$1.24	13d	1	0.39mi
3650 Creekview Cir Atlanta, GA	3.0	3.5	1225	$1,689	$1.38	13d	1	0.42mi
5825 Vernier Dr Atlanta, GA	3.0	2.0	1346	$1,615	$1.20	21d	1	0.50mi
5825 Vernier Dr Atlanta, GA	3.0	2.0	1346	$1,615	$1.20	24d	1	0.50mi
5825 Vernier Dr Atlanta, GA	3.0	2.0	1346	$1,615	$1.20	44d	1	0.50mi
5825 Vernier Dr Atlanta, GA	3.0	2.0	1346	$1,615	$1.20	5d	1	0.50mi
3022 Sable Run Rd Atlanta, GA	3.0	2.5	1748	$1,955	$1.12	4d	1	0.60mi
3524 Devon Chase Rd Atlanta, GA	3.0	2.5	1974	$1,840	$0.93	24d	1	0.60mi
3509 Augusta St Atlanta, GA	3.0	2.5	1588	$2,006	$1.26	44d	1	0.63mi
3514 Devon Chase Rd Atlanta, GA	3.0	2.0	1540	$1,720	$1.12	44d	1	0.64mi
3027 Sable Run Rd Atlanta, GA	3.0	3.0	1808	$2,080	$1.15	44d	1	0.65mi
3094 Sable Run Rd Atlanta, GA	4.0	3.0	2000	$1,490	$0.74	4d	1	0.66mi
5544 Bluegrass Dr Atlanta, GA	4.0	2.5	2080	$2,173	$1.04	21d	1	0.67mi
3477 Carriage Chase Rd Atlanta, GA	4.0	3.0	1545	$2,000	$1.29	24d	1	0.69mi
5885 Sable Chase Ln Atlanta, GA	3.0	3.5	2160	$2,100	$0.97	21d	1	0.70mi
3364 Estes Dr Atlanta, GA	3.0	2.5	1736	$1,889	$1.09	17d	1	0.89mi
5100 Welcome All Rd SW Atlanta, GA	1.0–3.0	1.0–2.5	1057	$1,600	$1.51	5d	5	0.92mi
5740 Buffington Rd Atlanta, GA	1.0–3.0	1.0–2.5	964	$2,149	$2.23	3d	16	1.01mi
5750 Buffington Rd Atlanta, GA	1.0–3.0	1.0–2.0	1142	$1,702	$1.49	2d	19	1.13mi
3457 Sumersbe Ct Atlanta, GA	3.0	2.5	1800	$2,300	$1.28	5d	1	1.16mi
4900 Delano Rd Atlanta, GA	1.0–3.0	1.0	915	$1,590	$1.74	44d	7	1.20mi
6150 Mallory Rd Atlanta, GA	3.0	2.0	1681	$1,695	$1.01	11d	1	1.23mi
6225 Shenfield Ln Union City, GA	3.0	2.5	1821	$2,000	$1.10	44d	1	1.27mi
4014 Carisbrook Dr Union City, GA	4.0	2.5	1795	$2,295	$1.28	24d	1	1.33mi
4014 Carisbrook Dr Union City, GA	4.0	2.5	1795	$2,195	$1.22	5d	1	1.33mi
4014 Carisbrook Dr Union City, GA	4.0	2.5	1795	$2,295	$1.28	22d	1	1.33mi
4128 Flat Trl Union City, GA	3.0	2.5	1450	$1,700	$1.17	44d	1	1.33mi
3730 Las Olas Dr Atlanta, GA	3.0	2.5	1533	$2,100	$1.37	44d	1	1.34mi
3859 Shenfield Dr Union City, GA	4.0	2.5	1850	$2,000	$1.08	5d	1	1.41mi
3855 Shenfield Dr Union City, GA	3.0	2.5	1626	$1,895	$1.17	44d	1	1.41mi
4312 Smithgall Ct Union City, GA	3.0	2.5	1433	$2,000	$1.40	19d	1	1.42mi
3635 Las Olas Dr Atlanta, GA	3.0	2.5	1788	$1,599	$0.89	13d	1	1.42mi

Listing history 13 events

1. 2026-06-17
   status $210,000 Pending 4 DOM
2. 2026-06-16
   days on market $210,000 Active Under Contract 4 DOM
3. 2026-06-15
   days on market $210,000 Active Under Contract 3 DOM
4. 2026-06-13
   statusdays on marketlisting id $210,000 Active Under Contract 1 DOM
5. 2026-06-09
   days on market $210,000 Active 34 DOM
6. 2026-06-08
   days on market $210,000 Active 33 DOM
7. 2026-06-07
   days on market $210,000 Active 32 DOM
8. 2026-06-04
   days on market $210,000 Active 29 DOM
9. 2026-06-03
   days on market $210,000 Active 28 DOM
10. 2026-06-01
    statusdays on market $210,000 Active 26 DOM
11. 2026-05-31
    days on market $210,000 Price Change 25 DOM
12. 2026-05-05
    listed $250,000 New 1342-char remark

    Show marketing remark (1342 chars)

    Welcome home to this charming 3-bedroom, 2-bath residence located in the heart of South Fulton! This well-maintained home features stylish no-carpet flooring throughout, offering both modern appeal and easy upkeep. Enjoy a spacious and functional layout with comfortable living areas, plenty of natural light, and an attached 2-car garage for added convenience and storage. Situated on a basement, this home offers additional space with endless possibilities for storage, a home gym, workshop, or future flex space. Sitting on just under a half-acre lot, there is plenty of outdoor space to enjoy, entertain, or expand your vision for the property. Ideally located near major highways and just minutes from Hartsfield-Jackson Atlanta International Airport, you'll enjoy quick access to shopping, dining, entertainment, and downtown Atlanta. This property is Great for an amazing homeowner or an savvy investor seeking to maximize their returns in this dynamic real estate market. Nestled close to the airport in a non-HOA community, this property presents an enticing blend of value, opportunity, and versatility. Whether you're an experienced investor looking to diversify your portfolio or a newcomer eager to embark on a profitable venture, this property holds the key to unlocking your financial aspirations. Make an offer today!

13. 1979-01-19
    soldstatus $49,500

ⓘ 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: $437 · $36/mo
• Projected year-2 tax: $1,932 · $161/mo
• Expected delta: +$1,495/yr (+$125/mo · 342.6%)

ⓘ 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: $22,512
• − Mortgage interest: −$11,763
• − Property taxes: −$437
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − Depreciation: −$6,109
• Taxable loss: −$449
• Est. tax savings @ 24.0%: +$108
• After-tax cash flow: $3,190/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

+405.1% since first listed

2 events — show timeline

• 2026-05-05 Listed $250,000 GAMLS
• 1979-01-19 Sold (Public Records) $49,500 Public Records

Property tax history

-6.3%/yr

Latest (2025): $437 · +5.1% YoY. Source: county tax records.