225 Lassiter Dr · Conyers, GA 30016

$260,000

4 bd · 2.0 ba · 1,654 sqft · SingleFamily public records · 5 Days on market

Built 2004 5,662 sqft lot $157/sqft · 53% above area Est $341k · 24% under $50/mo HOA · 2% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +10.7/30.0
• Livability +3.4/5.0
• DSCR +3.1/10.0
• 1% rule +3.0/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 225 Lassiter Drive! This charming 4 Bed, 2 Bath home is located in the desirable Villages at Ellington community in Covington! Built in 2004, this well maintained one and a half story home offers a functional and inviting layout perfect for comfortable living. Perfect for a growing family! Don't miss the opportunity to make this amazing home yours! Schedule a showing today! Seller still lives in the property, please give at least 2-hour notice for showings. Pictures are edited to show home empty.

Key facts

• 5,662 sq ft lot
• 2 garage spots
• Community pool

Property features AI

Finance

• HOA & community: Homeowners association with $300 annual fee

Exterior

• Parking: Detached garage (2 garage spaces, 2 total parking spaces)
• Utilities: Public water; Public sewer; Electric service available
• Home design: One and one-half story home; Fee simple ownership; Composition roof
• Construction: Cement siding and concrete construction; Slab foundation
• Exterior features: Other exterior features; Paved road access; Community pool and playground nearby; Near schools and shopping

Interior

• Kitchen: Kitchen with other/custom features; Appliances included (other)
• Bedrooms: Master on main; Three main-level bedrooms; One upper-level bedroom
• Flooring: Laminate flooring; Other flooring
• Bathrooms: Two full bathrooms (both on the main level); Master bath with additional/other features
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One electric fireplace; Bonus room; No shared/common walls; Resale condition
• Laundry & utility: Laundry room with other features

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-125 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (19.7% below list).
• Recommended offer: $209k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.4% in Conyers — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 67/100 on livability (#167 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities D, commute F.
• Newton County (suburban): math 17% / reading 26% proficiency, ranked #137 of 174 in GA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Newton Elementary School (math 17% / reading 17%, grade F, #936 of 1,228 statewide, top 79%, 638 students, 85% FRL); Veterans Memorial Middle School (math 12% / reading 27%, grade F, #356 of 470 statewide, top 78%, 637 students, 85% FRL); Alcovy High School (math 3% / reading 12%, grade F, #378 of 424 statewide, top 91%, 1,991 students, 55% FRL) — zoned schools average 75% FRL vs 59% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 449 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,480 units permitted in Newton County in 2024 (702 in 5+ unit buildings).
• This rent runs 32% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Newton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 6y ago; this cycle's ask is 14304% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $208,800 (19.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.05%
• DSCR: 0.91
• GRM: 10.4

CMA / ARV

• ARV (median comp): $340,515
• List price: $260,000
• Delta: -23.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Salem Rdg	0.17mi	3/2.0 (-1)	1,617 (-2%)	6mo	$285,000	$176	79
150 Lassiter Dr	0.07mi	3/2.0 (-1)	1,454 (-12%)	1mo	$255,000	$175	71
145 Charleston Pl	0.15mi	3/2.0 (-1)	1,523 (-8%)	9mo	$246,000	$162	67
420 Spring Lake Ter	0.25mi	3/2.0 (-1)	1,469 (-11%)	7mo	$240,000	$163	59
380 Spring Lake Ter	0.21mi	3/2.0 (-1)	1,445 (-13%)	7mo	$256,000	$177	59
20 Greenway Dr	0.33mi	3/2.0 (-1)	1,445 (-13%)	1mo	$258,000	$179	58
35 Springfield Way	0.35mi	3/2.0 (-1)	1,464 (-12%)	3mo	$265,000	$181	57
110 Greenway Dr	0.44mi	4/2.5	1,860 (+12%)	2mo	$265,000	$142	55
45 Sunset Ct	0.63mi	3/2.0 (-1)	1,525 (-8%)	2mo	$248,000	$163	51
330 Greenway Dr	0.47mi	3/2.5 (-1)	1,826 (+10%)	5mo	$255,000	$140	50
45 Somerset Ct	0.52mi	3/2.5 (-1)	1,866 (+13%)	2mo	$327,000	$175	46
95 Stephens Dr	0.69mi	3/2.0 (-1)	1,479 (-11%)	11mo	$280,000	$189	36

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 · 1.84% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: 0.28×
• Total profit: $-52,458
• Equity at exit: $38,767

10-year hold

• IRR: -17.2%
• Equity multiple: 0.10×
• Total profit: $-65,483
• Equity at exit: $22,480

Cash invested: $72,800 (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 30016

• Home prices YoY: -8.6%
• Rents YoY: 1.8%
• Active inventory: 449
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,088 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$252 /mo · $3,028/yr
• Insurance: −$108
• HOA: −$50
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-125

Break-even live

Break-even rent $2,246

Max offer price $237,992

Occupancy floor —

Sensitivity live

Price	-10% $23	-5% $-51	+0% $-125	+5% $-198	+10% $-272
Rent	-10% $-290	-5% $-207	+0% $-125	+5% $-42	+10% $40
Rate	-1.0pp $6	-0.5pp $-58	base $-125	+0.5pp $-192	+1.0pp $-260

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Collins Trce Covington, GA	3.0	2.0	1809	$1,860	$1.03	26d	1	0.13mi
45 Sunset Ct Covington, GA	3.0	2.0	1525	$1,846	$1.21	14d	1	0.60mi
655 Pebble Blvd Covington, GA	3.0	2.0	1477	$1,876	$1.27	0d	1	0.68mi
3026 Birdsong Ave Covington, GA	4.0	2.0	1795	$2,275	$1.27	45d	1	0.90mi
440 Pebble Blvd Covington, GA	3.0	2.0	1500	$1,869	$1.25	14d	1	1.01mi
200 Pebble Brooke Ct Covington, GA	3.0	2.0	1870	$1,989	$1.06	45d	1	1.03mi
20 Glynn Isle Dr Covington, GA	3.0	2.0	1401	$1,877	$1.34	19d	1	1.03mi
1843 Kirkland Rd Covington, GA	3.0	1.0	1356	$1,500	$1.11	26d	1	1.11mi
2075 Pinewood Dr Covington, GA	3.0	2.0	1757	$1,975	$1.12	0d	1	1.20mi
2075 Pinewood Dr Covington, GA	3.0	2.0	1757	$1,975	$1.12	4d	1	1.20mi
250 Skipjack Ct Covington, GA	3.0	2.5	1580	$2,195	$1.39	20d	1	1.34mi
305 Skipjack Ct Covington, GA	3.0	3.0	1463	$1,695	$1.16	45d	1	1.35mi
100 Salem Glen Way Conyers, GA	2.0–3.0	2.0–2.5	1101	$1,775	$1.61	3d	7	1.39mi
200 Falcon Ridge Dr Covington, GA	3.0	2.0	1409	$1,845	$1.31	0d	1	1.39mi
195 Falcon Ridge Dr Covington, GA	3.0	2.0	1319	$1,819	$1.38	5d	1	1.40mi
160 Wisteria Way Covington, GA	4.0	2.5	1839	$2,119	$1.15	45d	1	1.40mi
35 Willow Tree Ter Covington, GA	3.0	2.5	1660	$1,850	$1.11	26d	1	1.44mi
115 Falcon Ridge Dr Covington, GA	3.0	2.0	1648	$1,650	$1.00	26d	1	1.47mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 13 events

1. 2026-05-12
   status Pending 512-char remark
2. 2026-05-09
   status Under Contract 512-char remark

   Show marketing remark (512 chars)

   Welcome to 225 Lassiter Drive! This charming 4 Bed, 2 Bath home is located in the desirable Villages at Ellington community in Covington! Built in 2004, this well maintained one and a half story home offers a functional and inviting layout perfect for comfortable living. Perfect for a growing family! Don't miss the opportunity to make this amazing home yours! Schedule a showing today! Seller still lives in the property, please give at least 2-hour notice for showings. Pictures are edited to show home empty.

3. 2026-04-29
   historical $2,100
4. 2026-04-24
   listed $260,000 Active 512-char remark

   Show marketing remark (512 chars)

   Welcome to 225 Lassiter Drive! This charming 4 Bed, 2 Bath home is located in the desirable Villages at Ellington community in Covington! Built in 2004, this well maintained one and a half story home offers a functional and inviting layout perfect for comfortable living. Perfect for a growing family! Don't miss the opportunity to make this amazing home yours! Schedule a showing today! Seller still lives in the property, please give at least 2-hour notice for showings. Pictures are edited to show home empty.

5. 2026-04-24
   listed $260,000 New 512-char remark

   Show marketing remark (512 chars)

   Welcome to 225 Lassiter Drive! This charming 4 Bed, 2 Bath home is located in the desirable Villages at Ellington community in Covington! Built in 2004, this well maintained one and a half story home offers a functional and inviting layout perfect for comfortable living. Perfect for a growing family! Don't miss the opportunity to make this amazing home yours! Schedule a showing today! Seller still lives in the property, please give at least 2-hour notice for showings. Pictures are edited to show home empty.

6. 2026-03-20
   listed $2,100
7. 2026-03-20
   historical $2,100
8. 2026-03-03
   listed $2,100
9. 2020-05-11
   soldstatus $160,000
10. 2020-04-29
    soldstatus $160,000 Sold

    Show marketing remark (308 chars)

    This 3 bedroom home with nice size bonus room is a must see! Great location and walking distance to stores and Walmart. Roof is under 2 years old, water softener system stays with the home, HVAC is about 2 years old and more updates happening. This home will make the perfect first home for a growing family.

11. 2020-04-06
    status Under Contract

    Show marketing remark (308 chars)

    This 3 bedroom home with nice size bonus room is a must see! Great location and walking distance to stores and Walmart. Roof is under 2 years old, water softener system stays with the home, HVAC is about 2 years old and more updates happening. This home will make the perfect first home for a growing family.

12. 2020-04-03
    listed $160,000 New

    Show marketing remark (308 chars)

    This 3 bedroom home with nice size bonus room is a must see! Great location and walking distance to stores and Walmart. Roof is under 2 years old, water softener system stays with the home, HVAC is about 2 years old and more updates happening. This home will make the perfect first home for a growing family.

13. 2003-08-14
    soldstatus $600,000

ⓘ 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: $3,028 · $252/mo
• Projected year-2 tax: $3,028 · $252/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 ≥106°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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,056
• − Mortgage interest: −$14,564
• − Property taxes: −$3,028
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − HOA: −$600
• − Depreciation: −$7,564
• Taxable loss: −$6,008
• Est. tax savings @ 24.0%: +$1,442
• After-tax cash flow: $-53/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: Newton County
• NCES district ID: 1303930
• Math proficiency: 17% ▼ -13.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $50,768
• Composite: 19.2/100
• National rank: #8816
• State rank: #137 of 174 in GA

Livability — Conyers

• Score: 67/100
• State rank: #167
• US rank: #10533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Newton County · 104,393 people
• City population: 96,534
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,968
• Household income: $79,527
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 1172.0

Population outlook (Newton County) Hauer SSP2

• Today (2025): 118,372 people
• By 2030: 124,234 · +5.0%
• By 2040: 135,550 · +14.5%
• By 2050: 145,309 · +22.8%
• By 2075: 166,843 · +40.9%
• By 2100: 175,800 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 59% White 29% Two or more races 8% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 1% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Newton

• 2024 margin: D (+15.1) · D 57.3% · R 42.2%
• 2008→2024 swing: +14.0pp toward D · 2008: 1.2pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+10.9 2016: D+2.4 2012: D+2.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.68%
• Current HPI: 317.5605
• Rent YoY: ▲ 1.84%
• 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

-99.7% since first listed

19 events — show timeline

• 2026-06-18 Price Changed $1,830 RENTPROGRESS
• 2026-06-14 Price Changed $1,825 RENTPROGRESS
• 2026-06-06 Listed for Rent $1,805 RENTPROGRESS
• 2026-06-02 Sold (Public Records) $245,000 Public Records
• 2026-06-01 Sold (MLS) $245,000 FMLS
• 2026-06-01 Sold (MLS) $245,000 GAMLS
• 2026-05-12 Pending — FMLS
• 2026-05-09 Pending — GAMLS
• 2026-04-29 Rental Removed $2,100 FMLS
• 2026-04-24 Listed $260,000 FMLS
• 2026-04-24 Listed $260,000 GAMLS
• 2026-03-20 Listed for Rent $2,100 FMLS
• 2026-03-20 Rental Removed $2,100 GAMLS
• 2026-03-03 Listed for Rent $2,100 GAMLS
• 2020-05-11 Sold (Public Records) $160,000 Public Records
• 2020-04-29 Sold (MLS) $160,000 GAMLS
• 2020-04-06 Pending — GAMLS
• 2020-04-03 Listed $160,000 GAMLS
• 2003-08-14 Sold (Public Records) $600,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $3,028 · +4.5% YoY. Source: county tax records.