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Every 4 HP EVs is a point of HP so 3 grants you 7 HP points with 2 unused HP EVs...if you get a 4th HP up your at a perfect 40 EVs and 10 HP points with no leftovers...
The above answers should pretty much clear this up for you. Now, while this has been answered just going to put a lock on it. Although, please use the HG/SS Help thread for questions. More specifically when it comes to EV's and IV's you can use the Request a Moveset / Simple Q&A / Breeding Questions thread in Pokémon Strategies and Movesets.