7243 April Ct · Morrow, GA 30260

$195,000

3 bd · 3.0 ba · 1,348 sqft · Townhouse public records · 16 Days on market

Built 2005 3,571 sqft lot $145/sqft · 6% below area Est $208k · 6% under $50/mo HOA · 3% of rent ↓ 2% since listing

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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 +19.2/30.0
• ARV discount +10.3/15.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Nestled at 7243 April Court, Morrow, Georgia, this inviting home in Clayton County offers a wonderful opportunity to embrace comfortable living. The property presents itself in a ready-to-move-in condition. The living room, anchored by a fireplace, presents itself as a place for relaxation and conversation. Imagine the warmth and ambiance it provides on cooler evenings, creating a welcoming atmosphere for both residents and visitors. The kitchen bar offers a casual dining spot or a place for conversation while preparing meals. This residential property includes three bedrooms and two and a half bathrooms, providing ample space. The primary bedroom includes a walk-in closet. With 1347 square

Key facts

• Kitchen bar
• Open floor plan
• Walk-in closet

Tags

• FIREPLACE
• KITCHEN BAR
• WALK-IN CLOSET
• OPEN FLOOR PLAN

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $212 ($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 $189k (3.3% below list).
• Recommended offer: $189k (3.3% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 5.0% in Morrow — 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 65/100 on livability (#229 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities D, employment D, schools F.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.0%/yr); 173 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• This rent runs 43% of the median local income ($53k/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 $6k of value loss. Plan a longer hold.
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $188,644 (3.3% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.67%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

• ARV (median comp): $208,071
• List price: $195,000
• Delta: 3.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7238 April Ct	0.03mi	2/2.5 (-1)	1,348 (0%)	2mo	$205,000	$152	90
1539 April Ln	0.05mi	3/2.5	1,418 (+5%)	16mo	$200,000	$141	74
7241 Alicias Way	0.05mi	2/2.5 (-1)	1,348 (0%)	23mo	$211,500	$157	72
1575 April Ln	0.08mi	3/2.5	1,458 (+8%)	11mo	$212,500	$146	71
7176 Georges Way	0.06mi	3/2.5	1,402 (+4%)	22mo	$225,000	$160	70
7158 Georges Way	0.08mi	3/2.5	1,456 (+8%)	15mo	$215,000	$148	69
7083 Georges Way #0	0.13mi	3/2.5	1,444 (+7%)	18mo	$229,000	$159	65
7152 Georges Way	0.09mi	2/2.5 (-1)	1,400 (+4%)	22mo	$228,000	$163	64
304 Commons Dr	0.44mi	3/2.5	1,470 (+9%)	12mo	$230,000	$156	52
253 Commons Dr	0.46mi	3/2.5	1,470 (+9%)	23mo	$210,000	$143	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.57×
• Total profit: $-23,616
• Equity at exit: $29,075

10-year hold

• IRR: -8.3%
• Equity multiple: 0.55×
• Total profit: $-24,572
• Equity at exit: $16,860

Cash invested: $54,600 (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 30260

• Home prices YoY: -33.8%
• Rents YoY: -1.0%
• Active inventory: 173
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,886 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$124 /mo · $1,489/yr
• Insurance: −$81
• HOA: −$50
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $212

Break-even live

Break-even rent $1,618

Max offer price $195,000

Occupancy floor 84%

Sensitivity live

Price	-10% $323	-5% $268	+0% $212	+5% $157	+10% $102
Rent	-10% $63	-5% $138	+0% $212	+5% $287	+10% $361
Rate	-1.0pp $311	-0.5pp $262	base $212	+0.5pp $162	+1.0pp $110

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7232 April Ct Morrow, GA	3.0	2.5	1402	$1,700	$1.21	4d	1	0.05mi
7238 Alicias Way Morrow, GA	3.0	2.5	1347	$1,900	$1.41	44d	1	0.06mi
7202 Georges Way Morrow, GA	3.0	2.5	1402	$2,000	$1.43	44d	1	0.08mi
1556 Arbor Place Dr Morrow, GA	3.0	2.5	1720	$1,895	$1.10	25d	1	0.12mi
1488 Arbor Place Dr Morrow, GA	3.0	2.5	1811	$2,173	$1.20	25d	1	0.17mi
260 Commons Dr Jonesboro, GA	3.0	2.5	1410	$1,750	$1.24	3d	1	0.40mi
7147 Mount Zion Cir Morrow, GA	2.0	2.0	1170	$1,642	$1.40	6d	15	0.47mi
7000 Southlake Pkwy Morrow, GA	1.0–2.0	1.0–2.0	927	$1,394	$1.50	3d	9	0.54mi
7135 Mount Zion Cir Morrow, GA	2.0	2.0	1080	$1,893	$1.75	6d	25	0.63mi
1174 Battlecreek Rd Jonesboro, GA	2.0–3.0	2.5	1270	$1,850	$1.46	3d	5	0.78mi
1240 Ohara Dr Jonesboro, GA	3.0–4.0	2.5	1843	$2,325	$1.26	23d	6	0.90mi
1137 Gable Ter Jonesboro, GA	4.0	2.5	1116	$1,955	$1.75	25d	1	1.10mi
100 Chaselake Dr Jonesboro, GA	1.0–3.0	1.0–2.0	1160	$1,501	$1.29	2d	23	1.10mi
7830 N McDonough St Unit A4 Jonesboro, GA	2.0	1.0	1000	$1,550	$1.55	44d	1	1.16mi
7830 N McDonough St Jonesboro, GA	2.0	1.0	1000	$1,350	$1.35	44d	1	1.17mi
267 Wayne Ave Jonesboro, GA	4.0	2.0	1012	$2,300	$2.27	44d	1	1.21mi
7620 Tara Rd Jonesboro, GA	2.0	1.5	1200	$1,250	$1.04	25d	1	1.28mi
249 Wayne Ave Jonesboro, GA	3.0	1.0	1117	$1,395	$1.25	44d	1	1.30mi
1811 Wendell Way Morrow, GA	3.0	2.0	1285	$1,574	$1.22	23d	1	1.34mi
7847 Sugarland Dr Jonesboro, GA	3.0	2.0	1430	$1,750	$1.22	17d	1	1.35mi
7545 Tara Rd Jonesboro, GA	1.0–3.0	1.0–2.0	1032	$1,562	$1.51	2d	20	1.36mi
850 King Rd Jonesboro, GA	3.0	2.0	1620	$1,545	$0.95	13d	1	1.37mi
933 Ohara Dr Jonesboro, GA	2.0	2.0	1464	$2,700	$1.84	44d	1	1.38mi
7259 Mayfair Cir Jonesboro, GA	3.0	1.0	1014	$1,590	$1.57	3d	1	1.42mi
985 Mount Zion Rd Morrow, GA	2.0–3.0	1.5–2.0	1157	$1,274	$1.10	2d	9	1.44mi
808 S Nottingham Rd Jonesboro, GA	3.0	1.5	1107	$1,400	$1.26	44d	1	1.46mi
808 S Nottingham Rd Jonesboro, GA	3.0	1.5	1107	$1,400	$1.26	19d	1	1.46mi
858 Ohara Dr Jonesboro, GA	2.0	2.0	1001	$1,500	$1.50	44d	1	1.47mi
2324 Coach Way Jonesboro, GA	4.0	2.5	1714	$2,000	$1.17	44d	1	1.49mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 16 events

1. 2026-06-21
   days on market $195,000 Active 16 DOM
2. 2026-06-18
   statusdays on market $195,000 Active 13 DOM
3. 2026-06-17
   days on market $195,000 Price Change 12 DOM
4. 2026-06-16
   days on market $195,000 Price Change 11 DOM
5. 2026-06-16
   pricestatus $195,000 Price Change 10 DOM
6. 2026-06-15
   statusdays on market $205,000 Active 10 DOM
7. 2026-06-13
   pricestatusdays on market $205,000 Price Change 8 DOM
8. 2026-06-09
   days on market $195,000 New 4 DOM
9. 2026-06-08
   days on market $195,000 New 3 DOM
10. 2026-06-07
    pricestatusdays on marketlisting id $195,000 New 2 DOM
11. 2026-05-15
    historical
12. 2026-05-15
    historical
13. 2026-01-16
    listed $215,000 Active
14. 2026-01-16
    listed $215,000 New
15. 2026-01-09
    historical
16. 2025-11-07
    listed $220,000 New

ⓘ 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: $1,489 · $124/mo
• Projected year-2 tax: $1,794 · $150/mo
• Expected delta: +$305/yr (+$25/mo · 20.5%)

ⓘ 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 5/10 Major 26% 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: $22,637
• − Mortgage interest: −$10,923
• − Property taxes: −$1,489
• − Insurance: −$975
• − Repairs & maintenance: −$1,811
• − Management: −$1,811
• − HOA: −$600
• − Depreciation: −$5,673
• Taxable loss: −$644
• Est. tax savings @ 24.0%: +$155
• After-tax cash flow: $2,703/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: Clayton County
• NCES district ID: 1301230
• Math proficiency: 11% ▼ -13.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $42,266
• Composite: 13.41/100
• National rank: #9527
• State rank: #155 of 174 in GA

Livability — Morrow

• Score: 65/100
• State rank: #229
• US rank: #13314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clayton County · 230,153 people
• City population: 28,693
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 28,693
• Household income: $52,666
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 1956.0

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 310,777 people
• By 2030: 329,762 · +6.1%
• By 2040: 368,052 · +18.4%
• By 2050: 401,196 · +29.1%
• By 2075: 472,488 · +52.0%
• By 2100: 500,446 · +61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Black 50% Asian 20% Hispanic / Latino 19% Two or more races 7% White 7%
• Hispanic origin (detail): Mexican 11% Dominican 1%
• Foreign-born: 24% · Vietnam, Canada, South Korea
• Languages at home: 63% English-only · Spanish 17% Vietnamese 16% Other Asian/Pacific 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid D (+69.2) · D 84.3% · R 15.1%
• 2008→2024 swing: +2.8pp toward D · 2008: 66.4pp · 2024: 69.2pp
• All cycles: 2024: D+69.2 2020: D+70.9 2016: D+71.9 2012: D+70.1 2008: D+66.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.24%
• Current HPI: 192.3741
• Rent YoY: ▼ -1.00%
• 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

-2.3% since first listed

6 events — show timeline

• 2026-05-15 Listing Removed — GAMLS
• 2026-05-15 Listing Removed — FMLS
• 2026-01-16 Listed $215,000 GAMLS
• 2026-01-16 Listed $215,000 FMLS
• 2026-01-09 Listing Removed — GAMLS
• 2025-11-07 Listed $220,000 GAMLS

Property tax history

+3.0%/yr

Latest (2025): $1,489 · +0.4% YoY. Source: county tax records.