4209 Caveat Ct · South Fulton, GA 30213

$299,000

4 bd · 3.0 ba · 2,736 sqft · SingleFamily public records · 133 Days on market

Built 2014 9,147 sqft lot Est $394k · 24% under $54/mo HOA · 2% of rent

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Why this score? — see what drove the C 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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.9/10.0
• Schools +4.5/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 5-bedroom, 3 bath home with endless potential on a corner lot! Located on a desirable corner lot, this home features a bedroom and full bath conveniently located on the main level, perfect for guests, multi-generational living, or a home office. The generous floor plan offers ample living space and great natural light throughout. Outside, enjoy a fenced-in-backyard. THIS PROPERTY NEEDS TLC, making it an excellent opportunity. With the right updates, this home has the potential to shine!

Key facts

• Main level
• Natural light
• Generous floor plan

Tags

• CORNER LOT
• MAIN LEVEL
• FENCED-IN BACKYARD
• GENEROUS FLOOR PLAN
• NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/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 $295k (1.5% below list).
• Recommended offer: $263k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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 C — 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 rising (+2.5%/yr); 531 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 38% of the median local income ($94k/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 $9k 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 133 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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 $202k; 48% 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 8→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.99% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $393,984
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7530 Springbox Dr	0.12mi	4/2.5	2,932 (+7%)	10mo	$398,095	$136	72
4234 Sir Dixon Dr	0.09mi	5/3.0 (+1)	2,900 (+6%)	20mo	$385,000	$133	64
4409 Challedon Dr	0.36mi	4/2.5	2,772 (+1%)	19mo	$400,000	$144	63
415 Damascus Ct	0.50mi	4/2.5	2,800 (+2%)	13mo	$379,000	$135	60
4249 Caveat Ct	0.16mi	5/3.0 (+1)	3,109 (+14%)	11mo	$480,000	$154	56
4307 Alysheba Dr	0.23mi	4/3.5	3,064 (+12%)	22mo	$399,500	$130	49
1020 Athena Bnd	0.67mi	4/2.5	2,804 (+2%)	22mo	$409,990	$146	44
7625 Demeter Dr	0.75mi	5/3.5 (+1)	2,711 (-1%)	21mo	$411,490	$152	39
1050 Athena Bnd	0.63mi	4/2.5	2,340 (-14%)	21mo	$421,990	$180	27

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 · 2.53% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.68×
• Total profit: $-27,148
• Equity at exit: $44,582

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-100
• Equity at exit: $25,852

Cash invested: $83,720 (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 30213

• Home prices YoY: -17.7%
• Rents YoY: 2.5%
• Active inventory: 531
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,946 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$225 /mo · $2,696/yr
• Insurance: −$125
• HOA: −$54
• Vacancy / Maint / Mgmt: −$619
• Net cashflow: $356

Break-even live

Break-even rent $2,495

Max offer price $299,000

Occupancy floor 83%

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4274 Sir Dixon Dr Fairburn, GA	4.0	2.5	2860	$2,855	$1.00	43d	1	0.03mi
300 Pennant Ln Fairburn, GA	4.0	3.5	2948	$2,900	$0.98	43d	1	0.45mi
7436 Petal Pl Fairburn, GA	5.0	3.0	2872	$2,859	$1.00	5d	1	0.65mi
7571 Deerridge Way Fairburn, GA	5.0	4.0	3136	$3,049	$0.97	43d	1	0.68mi
965 Athena Bnd Fairburn, GA	4.0	2.5	3104	$3,100	$1.00	17d	1	0.81mi
4377 Montberry Ln Fairburn, GA	5.0	3.5	2896	$3,200	$1.10	24d	1	0.94mi
1087 Sly Fox Run Fairburn, GA	4.0	2.5	3736	$2,841	$0.76	24d	1	1.02mi
1124 Sly Fox Run Fairburn, GA	5.0	4.0	3064	$3,750	$1.22	43d	1	1.06mi
6876 Foxfire Pl Atlanta, GA	5.0	3.0	2990	$2,700	$0.90	43d	1	1.24mi
6802 Fireside Ln Atlanta, GA	4.0	2.0	2664	$2,525	$0.95	24d	1	1.38mi
420 Tarpan Ct Fairburn, GA	5.0	3.0	2776	$2,760	$0.99	5d	1	1.43mi

HOA detail

• Monthly dues: $54 · $648/yr

Listing history 12 events

1. 2026-02-11
   status Pending
2. 2026-02-10
   status Under Contract 500-char remark

   Show marketing remark (500 chars)

   Spacious 5-bedroom, 3 bath home with endless potential on a corner lot! Located on a desirable corner lot, this home features a bedroom and full bath conveniently located on the main level, perfect for guests, multi-generational living, or a home office. The generous floor plan offers ample living space and great natural light throughout. Outside, enjoy a fenced-in-backyard. THIS PROPERTY NEEDS TLC, making it an excellent opportunity. With the right updates, this home has the potential to shine!

3. 2025-09-30
   listed $299,000 Active

   Show marketing remark (500 chars)

   Spacious 5-bedroom, 3 bath home with endless potential on a corner lot! Located on a desirable corner lot, this home features a bedroom and full bath conveniently located on the main level, perfect for guests, multi-generational living, or a home office. The generous floor plan offers ample living space and great natural light throughout. Outside, enjoy a fenced-in-backyard. THIS PROPERTY NEEDS TLC, making it an excellent opportunity. With the right updates, this home has the potential to shine!

4. 2025-09-30
   listed $299,000 New 500-char remark

   Show marketing remark (500 chars)

   Spacious 5-bedroom, 3 bath home with endless potential on a corner lot! Located on a desirable corner lot, this home features a bedroom and full bath conveniently located on the main level, perfect for guests, multi-generational living, or a home office. The generous floor plan offers ample living space and great natural light throughout. Outside, enjoy a fenced-in-backyard. THIS PROPERTY NEEDS TLC, making it an excellent opportunity. With the right updates, this home has the potential to shine!

5. 2018-06-06
   historical
6. 2018-04-05
   listed $190,000 New
7. 2014-08-12
   price $201,893
8. 2014-07-14
   historical
9. 2014-07-11
   price $204,489
10. 2014-07-11
    soldstatus $201,893 Sold
11. 2014-06-20
    status Pending
12. 2014-06-06
    listed $204,489 Active

ⓘ 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: $2,696 · $225/mo
• Projected year-2 tax: $2,751 · $229/mo
• Expected delta: +$54/yr (+$5/mo · 2.0%)

ⓘ 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 8 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $35,358
• − Mortgage interest: −$16,749
• − Property taxes: −$2,696
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,829
• − Management: −$2,829
• − HOA: −$648
• − Depreciation: −$8,698
• Taxable loss: −$585
• Est. tax savings @ 24.0%: +$141
• After-tax cash flow: $4,418/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): 50,621
• Household income: $94,125
• Rent vs Own: 32.3% rent · 67.7% own
• Severe rent burden: 1025.0

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 (86%)
• Race & ethnicity: Black 86% White 8% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Hispanic 1% Arab 1% Lithuanian 0%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 2% Arabic 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: ▼ -50.66%
• Current HPI: 235.9372
• Rent YoY: ▲ 2.53%
• 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

+46.2% since first listed

12 events — show timeline

• 2026-02-11 Pending — FMLS
• 2026-02-10 Pending — GAMLS
• 2025-09-30 Listed $299,000 GAMLS
• 2025-09-30 Listed $299,000 FMLS
• 2018-06-06 Listing Removed — GAMLS
• 2018-04-05 Listed $190,000 GAMLS
• 2014-08-12 Price Changed $201,893 FMLS
• 2014-07-14 Listing Removed — FMLS
• 2014-07-11 Sold (MLS) $201,893 FMLS
• 2014-07-11 Price Changed $204,489 FMLS
• 2014-06-20 Pending — FMLS
• 2014-06-06 Listed $204,489 FMLS

Property tax history

+10.3%/yr

Latest (2025): $2,696 · +3.6% YoY. Source: county tax records.