6445 Marsham Dr · South Fulton, GA 30349

$265,000

3 bd · 2.5 ba · 1,464 sqft · SingleFamily public records · 87 Days on market

Built 1994 0.41 ac lot Est $233k · 14% over

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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 +14.2/30.0
• Appreciation +10.0/10.0
• Schools +4.5/10.0
• DSCR +4.3/10.0
• 1% rule +2.8/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.3/15.0

Listing remarks MLS

This beautiful and spacious Ranch offers 3-bedroom, 2-bathroom boasts new carpets, new HVAC, new Roof, new kitchen floor, all new pipping all PB piping removed and has been recently painted! The open floor plan features a spacious living-dining area, perfect for relaxing and entertaining, and a well-appointed kitchen with ample cabinetry and countertops. This home is a great opportunity for those looking for a comfortable and convenient place to call their own.

Key facts

• All new pipping
• New hvac
• New kitchen floor

Tags

• NEW CARPETS
• NEW HVAC
• NEW ROOF
• NEW KITCHEN FLOOR
• ALL NEW PIPPING
• RECENTLY PAINTED

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $45 ($535/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 $206k (22.4% below list).
• Recommended offer: $206k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 D — 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.
• Zoned schools: Cliftondale Elementary School (math 27% / reading 37%, grade F, #582 of 1,228 statewide, top 50%, 667 students, 62% FRL); Renaissance Middle School (math 22% / reading 27%, grade F, #301 of 470 statewide, top 66%, 1,166 students, 71% FRL); Langston Hughes High School (math 8% / reading 17%, grade F, #336 of 424 statewide, top 80%, 1,964 students, 65% FRL) — zoned schools average 66% FRL vs 41% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 51% district-wide (-28 pts) — the specific schools serving this property underperform the Fulton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 651 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k 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 $74k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 2y 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.

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 $205,589 (22.4% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.78% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.72%
• DSCR: 1.03
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $232,776
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 Westcliffe Ct	0.09mi	3/2.0	1,272 (-13%)	2mo	$252,000	$198	70
4160 Stonewall Tell Rd	0.56mi	2/1.0 (-1)	1,517 (+4%)	11mo	$142,000	$94	47
5015 Butner Rd	0.72mi	4/2.0 (+1)	1,508 (+3%)	16mo	$239,900	$159	41

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: 24.2%
• Equity multiple: 2.93×
• Total profit: $142,887
• Equity at exit: $238,733

10-year hold

• IRR: 21.0%
• Equity multiple: 6.53×
• Total profit: $410,552
• Equity at exit: $514,837

Cash invested: $74,200 (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: 10.7×

Monthly cashflow live

• Estimated rent: $2,056 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$79 /mo · $953/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $45

Break-even live

Break-even rent $1,999

Max offer price $265,000

Occupancy floor 93%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4115 Cranwood Dr Atlanta, GA	3.0	2.0	1392	$2,200	$1.58	12d	1	0.09mi
4110 Cranwood Dr Atlanta, GA	3.0	2.0	1424	$1,915	$1.34	1d	1	0.12mi
3920 Cliftondale Pl Atlanta, GA	3.0	2.0	1650	$1,800	$1.09	24d	1	0.27mi
4365 Stonewall Tell Rd Atlanta, GA	3.0	2.0	1460	$1,823	$1.25	43d	1	1.35mi
4660 Derrick Rd Atlanta, GA	1.0–3.0	1.0–2.0	1029	$2,724	$2.65	1d	32	1.45mi

Listing history 37 events

1. 2026-03-07
   status Under Contract 465-char remark

   Show marketing remark (465 chars)

   This beautiful and spacious Ranch offers 3-bedroom, 2-bathroom boasts new carpets, new HVAC, new Roof, new kitchen floor, all new pipping all PB piping removed and has been recently painted! The open floor plan features a spacious living-dining area, perfect for relaxing and entertaining, and a well-appointed kitchen with ample cabinetry and countertops. This home is a great opportunity for those looking for a comfortable and convenient place to call their own.

2. 2026-03-07
   status Pending

   Show marketing remark (465 chars)

   This beautiful and spacious Ranch offers 3-bedroom, 2-bathroom boasts new carpets, new HVAC, new Roof, new kitchen floor, all new pipping all PB piping removed and has been recently painted! The open floor plan features a spacious living-dining area, perfect for relaxing and entertaining, and a well-appointed kitchen with ample cabinetry and countertops. This home is a great opportunity for those looking for a comfortable and convenient place to call their own.

3. 2025-12-10
   listed $265,000 New 465-char remark

   Show marketing remark (465 chars)

   This beautiful and spacious Ranch offers 3-bedroom, 2-bathroom boasts new carpets, new HVAC, new Roof, new kitchen floor, all new pipping all PB piping removed and has been recently painted! The open floor plan features a spacious living-dining area, perfect for relaxing and entertaining, and a well-appointed kitchen with ample cabinetry and countertops. This home is a great opportunity for those looking for a comfortable and convenient place to call their own.

4. 2025-12-10
   listed $265,000 Active

   Show marketing remark (465 chars)

   This beautiful and spacious Ranch offers 3-bedroom, 2-bathroom boasts new carpets, new HVAC, new Roof, new kitchen floor, all new pipping all PB piping removed and has been recently painted! The open floor plan features a spacious living-dining area, perfect for relaxing and entertaining, and a well-appointed kitchen with ample cabinetry and countertops. This home is a great opportunity for those looking for a comfortable and convenient place to call their own.

5. 2025-10-31
   soldstatus $248,500
6. 2025-09-16
   historical
7. 2025-09-04
   price $244,900
8. 2025-08-22
   listed $244,990 Active
9. 2025-08-15
   historical
10. 2025-07-30
    historical
11. 2025-07-30
    historical
12. 2025-04-01
    listed $255,000 Active
13. 2025-03-10
    listed $255,000 New
14. 2025-02-28
    historical
15. 2025-02-28
    historical
16. 2025-02-04
    price $264,900
17. 2025-01-17
    price $266,400
18. 2025-01-17
    price $266,400
19. 2024-12-02
    price $267,900
20. 2024-12-02
    price $267,900
21. 2024-11-14
    status Price Change
22. 2024-11-14
    price $269,700
23. 2024-11-14
    status Active
24. 2024-11-14
    price $269,700
25. 2024-08-30
    status Pending
26. 2024-08-30
    status Under Contract
27. 2024-08-15
    price $269,500
28. 2024-08-15
    price $269,500
29. 2024-07-29
    price $272,000
30. 2024-07-29
    price $272,000
31. 2024-07-15
    price $275,000
32. 2024-07-15
    price $275,000
33. 2024-07-01
    listed $279,000 New
34. 2024-07-01
    listed $279,000 Active
35. 2005-10-06
    soldstatus $118,000
36. 2001-12-06
    soldstatus $110,900
37. 1999-02-23
    soldstatus $75,000

ⓘ 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: $953 · $79/mo
• Projected year-2 tax: $2,438 · $203/mo
• Expected delta: +$1,485/yr (+$124/mo · 155.7%)

ⓘ 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 ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,671
• − Mortgage interest: −$14,844
• − Property taxes: −$953
• − Insurance: −$1,325
• − Repairs & maintenance: −$1,974
• − Management: −$1,974
• − Depreciation: −$7,709
• Taxable loss: −$4,108
• Est. tax savings @ 24.0%: +$986
• After-tax cash flow: $1,521/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

+253.3% since first listed

37 events — show timeline

• 2026-03-07 Pending — GAMLS
• 2026-03-07 Pending — FMLS
• 2025-12-10 Listed $265,000 FMLS
• 2025-12-10 Listed $265,000 GAMLS
• 2025-10-31 Sold (Public Records) $248,500 Public Records
• 2025-09-16 Listing Removed — FMLS
• 2025-09-04 Price Changed $244,900 FMLS
• 2025-08-22 Listed $244,990 FMLS
• 2025-08-15 Coming Soon — FMLS
• 2025-07-30 Listing Removed — FMLS
• 2025-07-30 Listing Removed — GAMLS
• 2025-04-01 Listed $255,000 FMLS
• 2025-03-10 Listed $255,000 GAMLS
• 2025-02-28 Listing Removed — FMLS
• 2025-02-28 Listing Removed — GAMLS
• 2025-02-04 Price Changed $264,900 FMLS
• 2025-01-17 Price Changed $266,400 GAMLS
• 2025-01-17 Price Changed $266,400 FMLS
• 2024-12-02 Price Changed $267,900 GAMLS
• 2024-12-02 Price Changed $267,900 FMLS
• 2024-11-14 Relisted — GAMLS
• 2024-11-14 Price Changed $269,700 GAMLS
• 2024-11-14 Relisted — FMLS
• 2024-11-14 Price Changed $269,700 FMLS
• 2024-08-30 Pending — FMLS
• 2024-08-30 Pending — GAMLS
• 2024-08-15 Price Changed $269,500 GAMLS
• 2024-08-15 Price Changed $269,500 FMLS
• 2024-07-29 Price Changed $272,000 GAMLS
• 2024-07-29 Price Changed $272,000 FMLS
• 2024-07-15 Price Changed $275,000 GAMLS
• 2024-07-15 Price Changed $275,000 FMLS
• 2024-07-01 Listed $279,000 FMLS
• 2024-07-01 Listed $279,000 GAMLS
• 2005-10-06 Sold (Public Records) $118,000 Public Records
• 2001-12-06 Sold (Public Records) $110,900 Public Records
• 1999-02-23 Sold (Public Records) $75,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $953 · +5.0% YoY. Source: county tax records.