6505 Cherie Ln SW · South Fulton, GA 30349

$248,900

3 bd · 2.0 ba · 1,828 sqft · SingleFamily public records · 149 Days on market

Built 1971 1.00 ac lot $136/sqft · 27% below area Est $355k · 30% 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 +15.0/15.0
• Cash flow +13.9/30.0
• Appreciation +10.0/10.0
• Schools +4.5/10.0
• DSCR +4.2/10.0
• 1% rule +3.7/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

Key facts

• Bonus room
• Sunroom
• Brick ranch

Tags

• BRICK RANCH
• FULL UNFINISHED BASEMENT
• SUNROOM
• BONUS ROOM
• CLOSE PROXIMITY TO GOLF COURSE
• CLOSE PROXIMITY TO LIBRARY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $27 ($327/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 $218k (12.5% below list).
• Recommended offer: $218k (12.5% 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; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 39% 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 $27k of equity ($2k loan paydown + $25k 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 $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts 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 $55k; list at $249k implies a 353% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% 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 $217,732 (12.5% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 13% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.87% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.47%
• DSCR: 1.02
• GRM: 9.5

CMA / ARV

• ARV (median comp): $354,586
• List price: $248,900
• Delta: -29.81%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3150 Stonewall Tell Rd	0.67mi	3/2.5	1,649 (-10%)	4mo	$300,000	$182	47

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: 2.91×
• Total profit: $132,907
• Equity at exit: $224,229

10-year hold

• IRR: 20.8%
• Equity multiple: 6.48×
• Total profit: $381,854
• Equity at exit: $483,558

Cash invested: $69,692 (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: 9.5×

Monthly cashflow live

• Estimated rent: $2,177 high
• Mortgage (P&I): −$1,305
• Tax from tax record: −$284 /mo · $3,407/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $27

Break-even live

Break-even rent $2,143

Max offer price $248,900

Occupancy floor 94%

Sensitivity live

Price	-10% $168	-5% $98	+0% $27	+5% $-43	+10% $-114
Rent	-10% $-145	-5% $-59	+0% $27	+5% $113	+10% $199
Rate	-1.0pp $153	-0.5pp $91	base $27	+0.5pp $-37	+1.0pp $-103

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: $62,225
• Closing costs: $7,467
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4780 Butner Rd Atlanta, GA	3.0	3.0	1950	$2,250	$1.15	19d	1	0.73mi
3920 Cliftondale Pl Atlanta, GA	3.0	2.0	1650	$1,800	$1.09	25d	1	0.77mi
4115 Cranwood Dr Atlanta, GA	3.0	2.0	1392	$2,200	$1.58	13d	1	1.12mi
4110 Cranwood Dr Atlanta, GA	3.0	2.0	1424	$1,915	$1.34	2d	1	1.13mi
5700 Miles Rd Unit A Atlanta, GA	2.0	2.0	2200	$3,000	$1.36	3d	1	1.30mi
4341 Estate St Atlanta, GA	4.0	3.0	1885	$2,400	$1.27	6d	1	1.47mi

Listing history 33 events

1. 2026-06-18
   days on market $248,900 Active 149 DOM
2. 2026-06-17
   days on market $248,900 Active 148 DOM
3. 2026-06-16
   days on market $248,900 Active 147 DOM
4. 2026-06-15
   days on market $248,900 Active 146 DOM
5. 2026-06-13
   days on market $248,900 Active 144 DOM
6. 2026-06-09
   days on market $248,900 Active 140 DOM
7. 2026-06-08
   days on market $248,900 Active 139 DOM
8. 2026-06-07
   days on market $248,900 Active 138 DOM
9. 2026-06-04
   days on market $248,900 Active 135 DOM
10. 2026-06-03
    days on market $248,900 Active 134 DOM
11. 2026-06-01
    days on market $248,900 Active 132 DOM
12. 2026-05-31
    days on market $248,900 Active 131 DOM
13. 2026-05-06
    historical

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

14. 2026-05-06
    status Active 684-char remark

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

15. 2026-05-05
    listed $248,900 New
16. 2026-05-05
    listed $248,900 New
17. 2026-03-31
    status Active 684-char remark

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

18. 2026-03-18
    historical
19. 2026-03-14
    status Back On Market
20. 2026-02-12
    historical On Hold
21. 2026-02-12
    status Back On Market
22. 2026-01-13
    historical On Hold
23. 2025-10-25
    price $248,900 684-char remark

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

24. 2025-10-25
    status Active 684-char remark

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

25. 2025-10-25
    status Back On Market

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

26. 2025-10-25
    price $248,900

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

27. 2025-09-25
    status Pending 684-char remark

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

28. 2025-09-25
    status Active 684-char remark

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

29. 2025-08-08
    status Pending 684-char remark

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

30. 2025-08-08
    status Under Contract

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

31. 2025-07-15
    listed $235,000 Active 684-char remark

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

32. 2025-07-15
    listed $235,000 New

    Show marketing remark (684 chars)

    This 3 BR/2 BA Brick ranch on a 1.00 Acre lot is located in a quiet established neighborhood. Has a full unfinished basement. NO HOA. There is an additional bonus room off the family room; original hardwood floors in the Living room/Dining room, hallway and all the bedrooms; the kitchen has a breakfast area and there is a large separate laundry room; Central Heat/Air; the Roof was replaced a few years ago. With a little TLC, there is great potential and possibilities to transform this into your dream home. The area is in close proximity to the Wolf Creek golf course, entertainment center, library, Campcreek Marketplace, the Atlanta airport and easy access to major highways.

33. 1978-11-30
    soldstatus $55,000

ⓘ 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: $3,407 · $284/mo
• Projected year-2 tax: $3,407 · $284/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 ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,128
• − Mortgage interest: −$13,942
• − Property taxes: −$3,407
• − Insurance: −$1,244
• − Repairs & maintenance: −$2,090
• − Management: −$2,090
• − Depreciation: −$7,241
• Taxable loss: −$3,887
• Est. tax savings @ 24.0%: +$933
• After-tax cash flow: $1,260/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

+352.5% since first listed

21 events — show timeline

• 2026-05-06 Listing Removed — GAMLS
• 2026-05-06 Relisted — FMLS
• 2026-05-05 Listed $248,900 GAMLS
• 2026-05-05 Listed $248,900 GAMLS
• 2026-03-31 Relisted — FMLS
• 2026-03-18 Listing Removed — GAMLS
• 2026-03-14 Relisted — GAMLS
• 2026-02-12 Delisted — GAMLS
• 2026-02-12 Relisted — GAMLS
• 2026-01-13 Delisted — GAMLS
• 2025-10-25 Price Changed $248,900 FMLS
• 2025-10-25 Relisted — FMLS
• 2025-10-25 Relisted — GAMLS
• 2025-10-25 Price Changed $248,900 GAMLS
• 2025-09-25 Pending — FMLS
• 2025-09-25 Relisted — FMLS
• 2025-08-08 Pending — FMLS
• 2025-08-08 Pending — GAMLS
• 2025-07-15 Listed $235,000 GAMLS
• 2025-07-15 Listed $235,000 FMLS
• 1978-11-30 Sold (Public Records) $55,000 Public Records

Property tax history

+15.0%/yr

Latest (2025): $3,407 · -5.6% YoY. Source: county tax records.