3040 Garnet Way · South Fulton, GA 30349

$166,000

3 bd · 2.0 ba · 1,680 sqft · SingleFamily public records · 34 Days on market

Built 1994 0.28 ac lot $99/sqft · 32% below area Est $242k · 32% under

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Why this score? — see what drove the B 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 +21.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.8/10.0
• 1% rule +6.4/10.0
• Schools +4.5/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3BR/2BA home featuring a living room with a fireplace, an eat-in kitchen with a breakfast area, a bonus room, a covered patio, and a fenced backyard. Minutes to I-85, I-285, the airport, shopping, schools, and restaurants. Sold AS-IS.

Key facts

• 0.28 acre lot
• Built 1994
• Listed 34 days

Property features AI

Exterior

• Parking: Driveway parking; Open parking available
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Sewer available
• Home design: One-level home
• Construction: Wood siding; Shingle roof; Slab foundation; Resale condition
• Exterior features: Private yard; Back yard fencing; Covered patio/porch

Interior

• Kitchen: Eat-in kitchen; Stained cabinets; Laminate counters; Solid surface counters; Dishwasher
• Bedrooms: Three main-level bedrooms; Roommate floor plan
• Flooring: Carpet
• Bathrooms: Two full bathrooms; Master bathroom with tub/shower combo
• Heating & cooling: Central heating; Ceiling fans
• Interior features: Entrance foyer; Fireplace in family room; No shared/common walls; Bonus room
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $166k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $166k).
• Recommended offer: $161k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — 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: Nolan Elementary School (math 24% / reading 22%, grade F, #796 of 1,228 statewide, top 65%, 710 students, 100% FRL); Banneker High School (math 24% / reading 75%, grade D+, #28 of 424 statewide, top 7%, 1,610 students, 100% FRL) — zoned schools average 100% FRL vs 41% district-wide (59 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 51% district-wide (-14 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 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 $18k of equity ($1k loan paydown + $17k 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 $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 8 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 $131k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $161,020 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.14% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.27%
• DSCR: 1.28
• GRM: 7.3

CMA / ARV

• ARV (median comp): $242,396
• List price: $166,000
• Delta: -31.52%
• 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
370 Emerald Green Ct	0.45mi	3/2.5	1,695 (+1%)	2mo	$260,000	$153	74
2985 Garnet Way	0.10mi	3/2.0	1,464 (-13%)	11mo	$206,000	$141	65
6041 Hemperly Rd	0.54mi	3/2.5	1,741 (+4%)	5mo	$275,000	$158	62
6255 Topaz Trl	0.36mi	3/2.5	1,486 (-12%)	9mo	$234,700	$158	55
2289 Crossrail Dr	0.69mi	4/2.5 (+1)	1,736 (+3%)	3mo	$250,000	$144	53
805 Old Rocky Rd	0.31mi	4/3.0 (+1)	1,500 (-11%)	10mo	$250,000	$167	50
2317 Hackamore Dr	0.73mi	4/2.5 (+1)	1,748 (+4%)	6mo	$255,000	$146	47
2915 Harper Valley Dr	0.58mi	3/2.0	1,888 (+12%)	9mo	$256,000	$136	45
2359 Hackamore Dr	0.66mi	3/2.5	1,468 (-13%)	2mo	$241,000	$164	44
2670 Thornbury Way	0.69mi	4/4.0 (+1)	1,689 (+0%)	16mo	$340,000	$201	41
6625 Peppermill Ln	0.42mi	4/3.0 (+1)	1,906 (+14%)	12mo	$275,000	$144	39
2335 Hackamore Dr	0.69mi	3/2.5	1,448 (-14%)	11mo	$250,000	$173	34

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: 28.0%
• Equity multiple: 3.20×
• Total profit: $102,132
• Equity at exit: $149,546

10-year hold

• IRR: 23.8%
• Equity multiple: 7.06×
• Total profit: $281,651
• Equity at exit: $322,501

Cash invested: $46,480 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,895 high
• Mortgage (P&I): −$871
• Tax from tax record: −$315 /mo · $3,779/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $243

Break-even live

Break-even rent $1,588

Max offer price $166,000

Occupancy floor 82%

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: $41,500
• Closing costs: $4,980
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3105 Garnet Way Atlanta, GA	3.0	2.0	1470	$1,660	$1.13	12d	1	0.14mi
6450 Peppermill Ln Atlanta, GA	4.0	2.0	1188	$1,531	$1.29	24d	1	0.24mi
2667 Rocky Ct Atlanta, GA	3.0	2.5	1432	$2,200	$1.54	43d	1	0.28mi
855 Old Rocky Rd Atlanta, GA	3.0	2.0	1310	$1,710	$1.31	24d	1	0.29mi
2592 Rocky Ct Atlanta, GA	2.0	2.5	1424	$2,000	$1.40	43d	1	0.32mi
6345 Peppermill Ln Atlanta, GA	3.0	2.5	1224	$1,800	$1.47	43d	1	0.35mi
6560 Emerald Pointe Cir Atlanta, GA	3.0	2.0	1309	$1,500	$1.15	22d	1	0.37mi
336 Rocky Springs Ct Atlanta, GA	4.0	2.0	1900	$1,450	$0.76	24d	1	0.39mi
2820 Greenbower Ct Atlanta, GA	3.0	2.0	1338	$1,730	$1.29	3d	1	0.40mi
6278 Rockaway Rd Atlanta, GA	3.0	2.5	1524	$2,000	$1.31	43d	1	0.43mi
6090 Emerald Pointe Cir Atlanta, GA	3.0	2.0	1200	$1,875	$1.56	18d	1	0.52mi
320 Emerald Green Ct Atlanta, GA	3.0	2.0	1575	$2,050	$1.30	43d	1	0.54mi
6120 Hemperly Rd Atlanta, GA	4.0	2.5	1770	$2,100	$1.19	24d	1	0.65mi
6120 Hemperly Rd Atlanta, GA	4.0	2.5	1770	$2,100	$1.19	3d	1	0.65mi
2184 Olmadison Vw Atlanta, GA	2.0	2.0	1236	$1,985	$1.61	18d	1	0.68mi
3325 Valley Bend Rd Atlanta, GA	4.0	2.0	2000	$1,995	$1.00	16d	1	0.71mi
3325 Valley Bend Rd Atlanta, GA	4.0	2.0	2000	$1,995	$1.00	5d	1	0.71mi
6368 Olmadison Pl Atlanta, GA	3.0	2.5	1428	$1,656	$1.16	11d	1	0.71mi
6370 Olmadison Pl Atlanta, GA	3.0	2.5	1440	$1,795	$1.25	43d	1	0.71mi
2373 Bigwood Trl Atlanta, GA	3.0	2.5	1566	$1,845	$1.18	24d	1	0.75mi
2285 Bigwood Trl Atlanta, GA	3.0	2.5	1580	$1,740	$1.10	1d	1	0.77mi
2310 Bigwood Trl Atlanta, GA	3.0	2.5	1580	$2,600	$1.65	24d	1	0.81mi
6056 Carriage Ct Atlanta, GA	3.0	2.0	1400	$1,599	$1.14	5d	1	0.81mi
2865 Spruce Point Rd Atlanta, GA	4.0	2.0	1050	$1,910	$1.82	43d	1	0.83mi
6078 Oak Bend Ct Riverdale, GA	3.0	2.5	1622	$1,800	$1.11	24d	1	0.83mi
6048 Oak Bend Ct Riverdale, GA	3.0	2.5	1500	$1,750	$1.17	22d	1	0.87mi
2555 Flat Shoals Rd #401 Atlanta, GA	3.0	2.5	1550	$2,050	$1.32	43d	1	0.87mi
3206 Pine Tree Trl Unit 15C Atlanta, GA	3.0	2.5	1466	$1,950	$1.33	4d	1	0.87mi
2328 Creel Rd Atlanta, GA	4.0	3.0	2100	$1,895	$0.90	43d	1	0.88mi
6230 Cedar Wood Dr Atlanta, GA	3.0	2.0	1238	$1,694	$1.37	43d	1	0.88mi
2555 Flat Shoals Rd #404 College Park, GA	3.0	2.5	1408	$1,700	$1.21	24d	1	0.89mi
6027 Oak Bend Ct Riverdale, GA	3.0	2.5	1530	$2,070	$1.35	5d	1	0.89mi
2550 Hallie Mill Rd Atlanta, GA	3.0	2.0	1372	$1,600	$1.17	12d	1	0.89mi
2555 Flat Shoals Rd #3005 Atlanta, GA	3.0	2.5	1724	$1,850	$1.07	5d	1	0.92mi
3240 Devilla Trce South Fulton, GA	4.0	2.0	1616	$1,980	$1.23	43d	1	0.94mi
7060 Kimberly Mill Rd Atlanta, GA	3.0	1.0	1056	$1,425	$1.35	5d	1	1.01mi
6575 Smoke Ridge Dr Atlanta, GA	4.0	2.0	1808	$1,815	$1.00	43d	1	1.03mi
6415 El Caudillo Ct Atlanta, GA	3.0	3.0	1498	$2,800	$1.87	4d	1	1.03mi
3500 Keels Ln Atlanta, GA	3.0	2.0	1272	$1,755	$1.38	1d	1	1.04mi
110 Fruitwood Trce Unit A Riverdale, GA	3.0	2.0	1100	$1,800	$1.64	20d	1	1.05mi

Listing history 22 events

1. 2026-06-04
   status $166,000 Pending 34 DOM

   Show marketing remark (234 chars)

   3BR/2BA home featuring a living room with a fireplace, an eat-in kitchen with a breakfast area, a bonus room, a covered patio, and a fenced backyard. Minutes to I-85, I-285, the airport, shopping, schools, and restaurants. Sold AS-IS.

2. 2026-06-03
   days on market $166,000 Active 34 DOM
3. 2026-06-01
   days on market $166,000 Active 32 DOM
4. 2026-05-31
   days on market $166,000 Active 31 DOM
5. 2026-04-30
   listed $166,000 New 234-char remark

   Show marketing remark (234 chars)

   3BR/2BA home featuring a living room with a fireplace, an eat-in kitchen with a breakfast area, a bonus room, a covered patio, and a fenced backyard. Minutes to I-85, I-285, the airport, shopping, schools, and restaurants. Sold AS-IS.

6. 2026-04-30
   listed $166,000 Active 234-char remark

   Show marketing remark (234 chars)

   3BR/2BA home featuring a living room with a fireplace, an eat-in kitchen with a breakfast area, a bonus room, a covered patio, and a fenced backyard. Minutes to I-85, I-285, the airport, shopping, schools, and restaurants. Sold AS-IS.

7. 2025-09-14
   historical
8. 2025-09-14
   historical
9. 2025-08-22
   status Back On Market
10. 2025-08-22
    status Active
11. 2025-08-12
    status Under Contract
12. 2025-08-12
    status Pending
13. 2025-06-16
    listed $170,000 Active
14. 2025-06-16
    listed $170,000 New
15. 2019-06-26
    soldstatus $130,900
16. 2019-06-21
    soldstatus $130,900 Closed
17. 2019-06-21
    soldstatus $130,900 Sold
18. 2019-03-29
    status Under Contract
19. 2019-03-29
    status Pending
20. 2019-03-21
    listed $124,900 Active
21. 2019-03-21
    listed $124,900 New
22. 1995-02-09
    soldstatus $66,000

ⓘ 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: $3,779 · $315/mo
• Projected year-2 tax: $3,779 · $315/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 ≥105°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 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,745
• − Mortgage interest: −$9,299
• − Property taxes: −$3,779
• − Insurance: −$830
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − Depreciation: −$4,829
• Taxable income: $369
• Est. tax owed @ 24.0%: −$89
• After-tax cash flow: $2,824/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

+151.5% since first listed

20 events — show timeline

• 2026-06-04 Pending — GAMLS
• 2026-06-04 Pending — FMLS
• 2026-04-30 Listed $166,000 FMLS
• 2026-04-30 Listed $166,000 GAMLS
• 2025-09-14 Listing Removed — GAMLS
• 2025-09-14 Listing Removed — FMLS
• 2025-08-22 Relisted — GAMLS
• 2025-08-22 Relisted — FMLS
• 2025-08-12 Pending — GAMLS
• 2025-08-12 Pending — FMLS
• 2025-06-16 Listed $170,000 GAMLS
• 2025-06-16 Listed $170,000 FMLS
• 2019-06-26 Sold (Public Records) $130,900 Public Records
• 2019-06-21 Sold (MLS) $130,900 GAMLS
• 2019-06-21 Sold (MLS) $130,900 FMLS
• 2019-03-29 Pending — GAMLS
• 2019-03-29 Pending — FMLS
• 2019-03-21 Listed $124,900 GAMLS
• 2019-03-21 Listed $124,900 FMLS
• 1995-02-09 Sold (Public Records) $66,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $3,779 · -2.9% YoY. Source: county tax records.