3735 Boulder Park Dr SW · Atlanta, GA 30331

$223,500

3 bd · 2.0 ba · 1,715 sqft · SingleFamily public records · 79 Days on market

Built 1940 0.69 ac lot $130/sqft · 18% below area Est $272k · 18% under

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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 +13.2/30.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• DSCR +4.0/10.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained 5-bedroom, 3-bathroom single-story home that blends comfort, style, and functionality. Step inside to discover an open-concept layout enhanced by elegant hardwood and tile flooring throughout. The heart of the home is the gourmet kitchen, featuring crisp white cabinetry, luxurious stone countertops, and sleek stainless steel appliances - perfect for everyday living and entertaining. Each bathroom offers modern finishes and ample space, while the five generously sized bedrooms provide flexibility for family, guests, or a home office. Outside, enjoy the expansive backyard ideal for gatherings or relaxation, a charming front porch for your morning coffee, and a private driveway offering convenient parking. This move-in-ready gem offers the perfect blend of indoor charm and outdoor space - don't miss your opportunity to make it yours!

Key facts

• 0.69 acre lot
• 2 parking spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $224k.

Deal economics

• At list price, monthly cash flow is $-5 ($-61/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (10.1% below list).
• Recommended offer: $201k (10.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.1% in Atlanta — 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 83/100 on livability (#6 in GA, #919 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, cost of living C-.
• Atlanta Public Schools (urban): math 28% / reading 35% proficiency, ranked #80 of 174 in GA (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 483 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 39% of the median local income ($63k/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 $7k of value loss. Plan a longer hold.
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 7y 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 $165k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,932 (10.1% 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 79 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.90% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• GRM: 9.3

CMA / ARV

• ARV (median comp): $272,015
• List price: $223,500
• Delta: -17.84%
• 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
225 Fairburn Rd SW	0.08mi	2/2.0 (-1)	1,686 (-2%)	2mo	$80,000	$47	87
238 Howell Dr SW	0.34mi	4/2.0 (+1)	1,743 (+2%)	3mo	$220,000	$126	74
3888 Boulder Park Dr SW	0.37mi	3/2.5	1,650 (-4%)	7mo	$380,000	$230	68
580 Morrow Ln SW	0.64mi	3/2.5	1,740 (+2%)	4mo	$340,000	$195	62
202 Nathan Rd SW	0.51mi	4/2.5 (+1)	1,792 (+4%)	1mo	$171,000	$95	61
259 Tarragon Way SW	0.48mi	4/3.0 (+1)	1,805 (+5%)	6mo	$250,000	$139	54
3897 Ester Dr SW	0.53mi	3/2.0	1,562 (-9%)	9mo	$232,000	$149	53
852 Regal Ln SW	0.56mi	3/2.5	1,938 (+13%)	2mo	$320,000	$165	48
605 Lofty Ln SW	0.54mi	3/2.5	1,952 (+14%)	3mo	$285,000	$146	48
583 Tarragon Ct SW	0.67mi	3/2.5	1,507 (-12%)	4mo	$225,000	$149	44
273 Fennel Way SW	0.55mi	4/2.0 (+1)	1,474 (-14%)	6mo	$200,000	$136	41
587 Tarragon Way SW	0.68mi	3/2.0	1,458 (-15%)	4mo	$239,000	$164	40

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.41×
• Total profit: $-37,226
• Equity at exit: $33,325

10-year hold

• IRR: -9.4%
• Equity multiple: 0.43×
• Total profit: $-35,627
• Equity at exit: $19,324

Cash invested: $62,580 (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 30331

• Home prices YoY: -34.2%
• Rents YoY: 2.6%
• Active inventory: 483
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,009 high
• Mortgage (P&I): −$1,172
• Tax from tax record: −$327 /mo · $3,927/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-5

Break-even live

Break-even rent $2,016

Max offer price $222,600

Occupancy floor 95%

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: $55,875
• Closing costs: $6,705
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
415 Fairburn Rd SW Atlanta, GA	1.0–3.0	1.0–2.0	890	$1,490	$1.67	2d	31	0.41mi
841 Ambient Way SW Atlanta, GA	2.0	2.5	1344	$1,895	$1.41	17d	1	0.41mi
755 Crestwell Cir SW Atlanta, GA	2.0	2.5	1546	$1,800	$1.16	24d	1	0.42mi
586 Oakside Dr SW Unit A Atlanta, GA	3.0	1.0	1075	$1,325	$1.23	15d	1	0.43mi
586 Oakside Dr SW Unit B Atlanta, GA	2.0	1.0	1075	$1,065	$0.99	15d	1	0.43mi
832 Ambient Way SW Atlanta, GA	2.0	2.5	1500	$2,250	$1.50	24d	1	0.44mi
722 Crestwell Cir #722 Atlanta, GA	2.0	3.0	1440	$2,279	$1.58	21d	1	0.46mi
887 Ambient Way SW Atlanta, GA	2.0	2.5	1344	$2,250	$1.67	24d	1	0.46mi
3915 Basil Way SW Atlanta, GA	3.0	2.0	1287	$2,600	$2.02	24d	1	0.46mi
897 Ambient Way SW Atlanta, GA	2.0	2.5	1500	$2,155	$1.44	24d	1	0.48mi
3919 Wisteria Ln SW Atlanta, GA	4.0	2.0	1126	$1,730	$1.54	14d	1	0.48mi
708 Crestwell Cir SW Atlanta, GA	2.0	2.5	1236	$1,645	$1.33	24d	1	0.49mi
900 Society Cir SW Atlanta, GA	4.0	3.5	1710	$2,500	$1.46	24d	1	0.49mi
648 Providence Pl SW #37 Atlanta, GA	3.0	3.5	1416	$2,195	$1.55	24d	1	0.54mi
778 Nehemiah Ln SW Atlanta, GA	2.0	2.5	1576	$1,950	$1.24	24d	1	0.55mi
350 Fennel Way SW Atlanta, GA	4.0	2.0	1450	$1,500	$1.03	21d	1	0.55mi
658 Providence Pl SW Atlanta, GA	3.0	3.5	1571	$2,100	$1.34	24d	1	0.57mi
95 Howell Dr SW Atlanta, GA	3.0	2.5	1840	$1,840	$1.00	14d	1	0.59mi
87 Howell Dr SW Atlanta, GA	3.0	2.5	1840	$2,700	$1.47	24d	1	0.59mi
975 Society Cir SW Atlanta, GA	4.0	3.5	1700	$2,350	$1.38	2d	1	0.61mi
513 Constellation Overlook SW Atlanta, GA	3.0	2.5	1446	$2,300	$1.59	24d	1	0.64mi
494 Plainville Dr SW Atlanta, GA	3.0	2.0	1567	$2,400	$1.53	24d	1	0.70mi
440 Dartmouth Dr SW Atlanta, GA	4.0	3.0	1148	$1,795	$1.56	21d	1	0.76mi
4172 Renfrew Ct SW Atlanta, GA	4.0	2.0	1136	$1,200	$1.06	8d	1	0.76mi
3616 Utoy Dr SW Atlanta, GA	3.0	3.5	1496	$1,950	$1.30	44d	1	0.76mi
40 Candlelight Ln SW Unit A Atlanta, GA	2.0	2.0	1098	$1,500	$1.37	24d	1	0.81mi
40 Candlelight Ln SW Apt B Atlanta, GA	3.0	3.0	1274	$1,800	$1.41	24d	1	0.81mi
3354 Delmar Ln NW Atlanta, GA	3.0	2.0	1170	$1,700	$1.45	24d	1	0.87mi
3230 Cushman Cir SW Atlanta, GA	2.0	1.0	1143	$1,200	$1.05	8d	1	0.97mi
206 Harwell Rd NW Atlanta, GA	4.0	2.0	2000	$2,023	$1.01	21d	1	1.00mi
3311 Rabun Dr SW Atlanta, GA	3.0	2.0	1523	$2,350	$1.54	24d	1	1.03mi
751 Fairburn Rd SW Atlanta, GA	1.0–3.0	1.0–2.0	1162	$2,170	$1.87	3d	32	1.09mi
3188 Delmar Ln NW Atlanta, GA	3.0	2.0	1124	$2,400	$2.14	24d	1	1.15mi
3606 Ginnis Dr SW #8 Atlanta, GA	2.0	2.5	1224	$1,411	$1.15	8d	1	1.21mi
470 Bolton Rd NW Unit D1 Atlanta, GA	2.0	1.5	1100	$1,395	$1.27	24d	1	1.25mi
451 Fairlock Ln NW Atlanta, GA	3.0	1.0	1141	$1,450	$1.27	24d	1	1.29mi
3590 Collier Dr NW Atlanta, GA	4.0	4.0	1110	$1,100	$0.99	11d	1	1.34mi
3051 Delmar Ln NW Atlanta, GA	3.0	2.0	1971	$2,500	$1.27	24d	1	1.40mi
4341 Cascade Rd SW Atlanta, GA	1.0–3.0	1.0–2.0	959	$1,535	$1.60	44d	1	1.48mi

Listing history 35 events

1. 2026-05-31
   status $223,500 Pending 79 DOM
2. 2026-03-12
   listed $223,500 New 887-char remark

   Show marketing remark (905 chars)

   Welcome to this beautifully maintained 5-bedroom, 3-bathroom single-story home that blends comfort, style, and functionality. Step inside to discover an open-concept layout enhanced by elegant hardwood and tile flooring throughout. The heart of the home is the gourmet kitchen, featuring crisp white cabinetry, luxurious stone countertops, and sleek stainless steel appliances — perfect for everyday living and entertaining. Each bathroom offers modern finishes and ample space, while the five generously sized bedrooms provide flexibility for family, guests, or a home office. Outside, enjoy the expansive backyard ideal for gatherings or relaxation, a charming front porch for your morning coffee, and a private driveway offering convenient parking. This move-in-ready gem offers the perfect blend of indoor charm and outdoor space — don’t miss your opportunity to make it yours!

3. 2026-03-12
   listed $223,500 Active 905-char remark

   Show marketing remark (905 chars)

   Welcome to this beautifully maintained 5-bedroom, 3-bathroom single-story home that blends comfort, style, and functionality. Step inside to discover an open-concept layout enhanced by elegant hardwood and tile flooring throughout. The heart of the home is the gourmet kitchen, featuring crisp white cabinetry, luxurious stone countertops, and sleek stainless steel appliances — perfect for everyday living and entertaining. Each bathroom offers modern finishes and ample space, while the five generously sized bedrooms provide flexibility for family, guests, or a home office. Outside, enjoy the expansive backyard ideal for gatherings or relaxation, a charming front porch for your morning coffee, and a private driveway offering convenient parking. This move-in-ready gem offers the perfect blend of indoor charm and outdoor space — don’t miss your opportunity to make it yours!

4. 2026-03-11
   historical
5. 2026-03-10
   historical
6. 2025-05-07
   listed $240,000 New
7. 2025-05-07
   listed $240,000 Active
8. 2024-01-02
   historical $1,595
9. 2023-12-27
   listed $1,595
10. 2020-10-27
    soldstatus $165,000
11. 2020-10-02
    soldstatus $165,000 Closed
12. 2020-10-02
    soldstatus $165,000 Sold
13. 2020-09-14
    status Under Contract
14. 2020-09-14
    status Pending
15. 2020-09-02
    price $189,000
16. 2020-09-01
    price $189,000
17. 2020-08-20
    price $215,000
18. 2020-08-20
    price $215,000
19. 2020-08-14
    price $225,000
20. 2020-08-14
    price $225,000
21. 2020-08-09
    price $239,900
22. 2020-08-09
    price $239,900
23. 2020-08-03
    listed $249,900 Active
24. 2020-08-03
    listed $249,900 New
25. 2020-07-16
    historical
26. 2020-07-15
    price $225,000
27. 2020-05-21
    listed $249,900 New
28. 2019-09-11
    soldstatus $78,000
29. 2019-08-26
    soldstatus $78,000 Closed
30. 2019-08-08
    status Pending
31. 2019-08-05
    price $84,000
32. 2019-07-22
    status Active
33. 2019-07-11
    status Pending
34. 2019-06-28
    listed $85,000 Active
35. 2017-12-15
    soldstatus $70,000

ⓘ 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: $3,927 · $327/mo
• Projected year-2 tax: $3,927 · $327/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 5/10 Major 6 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,112
• − Mortgage interest: −$12,519
• − Property taxes: −$3,927
• − Insurance: −$1,118
• − Repairs & maintenance: −$1,929
• − Management: −$1,929
• − Depreciation: −$6,502
• Taxable loss: −$3,812
• Est. tax savings @ 24.0%: +$915
• After-tax cash flow: $854/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: Atlanta Public Schools
• NCES district ID: 1300120
• Math proficiency: 28% ▼ -6.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $48,306
• Composite: 27.27/100
• National rank: #7006
• State rank: #80 of 174 in GA

Livability — Atlanta

• Score: 83/100
• State rank: #6
• US rank: #919

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlanta, GA
• County: Fulton County · 1,094,430 people
• City population: 629,525
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,567
• Household income: $62,623
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 3748.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Hispanic 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 1% 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: ▼ -106.38%
• Current HPI: 204.5402
• Rent YoY: ▲ 2.63%
• 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

+219.3% since first listed

34 events — show timeline

• 2026-03-12 Listed $223,500 FMLS
• 2026-03-12 Listed $223,500 GAMLS
• 2026-03-11 Listing Removed — GAMLS
• 2026-03-10 Listing Removed — FMLS
• 2025-05-07 Listed $240,000 FMLS
• 2025-05-07 Listed $240,000 GAMLS
• 2024-01-02 Rental Removed $1,595 GAMLS
• 2023-12-27 Listed for Rent $1,595 GAMLS
• 2020-10-27 Sold (Public Records) $165,000 Public Records
• 2020-10-02 Sold (MLS) $165,000 GAMLS
• 2020-10-02 Sold (MLS) $165,000 FMLS
• 2020-09-14 Pending — GAMLS
• 2020-09-14 Pending — FMLS
• 2020-09-02 Price Changed $189,000 GAMLS
• 2020-09-01 Price Changed $189,000 FMLS
• 2020-08-20 Price Changed $215,000 GAMLS
• 2020-08-20 Price Changed $215,000 FMLS
• 2020-08-14 Price Changed $225,000 GAMLS
• 2020-08-14 Price Changed $225,000 FMLS
• 2020-08-09 Price Changed $239,900 GAMLS
• 2020-08-09 Price Changed $239,900 FMLS
• 2020-08-03 Listed $249,900 GAMLS
• 2020-08-03 Listed $249,900 FMLS
• 2020-07-16 Listing Removed — GAMLS
• 2020-07-15 Price Changed $225,000 GAMLS
• 2020-05-21 Listed $249,900 GAMLS
• 2019-09-11 Sold (Public Records) $78,000 Public Records
• 2019-08-26 Sold (MLS) $78,000 FMLS
• 2019-08-08 Pending — FMLS
• 2019-08-05 Price Changed $84,000 FMLS
• 2019-07-22 Relisted — FMLS
• 2019-07-11 Pending — FMLS
• 2019-06-28 Listed $85,000 FMLS
• 2017-12-15 Sold (Public Records) $70,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $3,927 · -3.5% YoY. Source: county tax records.