12303 Waldrop Pl · Panthersville, GA 30034

$100,000

3 bd · 2.0 ba · 1,292 sqft · Condo public records · 31 Days on market

Built 2005 $250/mo HOA · 14% of rent ↓ 8% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Third-floor condo offering low-maintenance living in a convenient Decatur location. The kitchen has been remodeled and features new countertops, giving the space a clean, modern feel. HVAC system replaced in 2022. Enjoy an open-concept layout with generous natural light throughout. Located minutes from I-20 and Highway 285 -- commuting and everyday errands are effortless. HOA covers exterior maintenance, grounds, trash, and management. Sold as-is. Cash or conventional financing only.

Key facts

• Remodeled kitchen
• New countertops
• Third-floor condo

Tags

• THIRD-FLOOR CONDO
• REMODELED KITCHEN
• NEW COUNTERTOPS
• OPEN-CONCEPT LAYOUT
• GENEROUS NATURAL LIGHT
• CONVENIENT DECATUR LOCATION

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee (approximately $3,000); HOA covers structure maintenance, grounds maintenance, management fee, and trash; Community features: walking distance to schools, near shopping

Exterior

• Parking: More than one parking space per unit
• Utilities: Public water; Public sewer; Cable available; Electricity available; High-speed internet available
• Home design: Residential condominium; Garden/patio home; One level
• Construction: Built in 2005; Aluminum siding; Other roof
• Exterior features: Private lot

Interior

• Kitchen: Dishwasher; Refrigerator; Stainless steel appliances
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Family room
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 5.3% in Panthersville — 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 66/100 on livability (#180 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Dekalb County (suburban): math 19% / reading 28% proficiency, ranked #125 of 174 in GA (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cedar Grove Middle School (math 2% / reading 17%, grade F, #433 of 470 statewide, top 93%, 777 students, 100% FRL); Cedar Grove High School (math 8% / reading 17%, grade F, #336 of 424 statewide, top 80%, 1,123 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 11% at this address vs 24% district-wide (-12 pts) — the specific schools serving this property underperform the Dekalb County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.2%/yr); 355 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 33% of the median local income ($64k/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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• DeKalb County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $19k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.75% ✓
• Cap rate: 12.19%
• Cash-on-cash: 21.07%
• DSCR: 1.94
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.18% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.49×
• Total profit: $13,824
• Equity at exit: $14,910

10-year hold

• IRR: 20.8%
• Equity multiple: 2.69×
• Total profit: $47,183
• Equity at exit: $8,646

Cash invested: $28,000 (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 30034

• Home prices YoY: -27.4%
• Rents YoY: 2.2%
• Active inventory: 355
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,747 high
• Mortgage (P&I): −$524
• Tax from tax record: −$73 /mo · $872/yr
• Insurance: −$42
• HOA: −$250
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $492

Break-even live

Break-even rent $1,125

Max offer price $100,000

Occupancy floor 67%

Sensitivity live

Price	-10% $548	-5% $520	+0% $492	+5% $463	+10% $435
Rent	-10% $354	-5% $423	+0% $492	+5% $561	+10% $630
Rate	-1.0pp $542	-0.5pp $517	base $492	+0.5pp $466	+1.0pp $439

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6201 Waldrop Pl Decatur, GA	3.0	2.0	1300	$1,350	$1.04	19d	1	0.03mi
11101 Waldrop Pl Decatur, GA	3.0	2.0	1293	$1,550	$1.20	44d	1	0.03mi
6303 Waldrop Pl Decatur, GA	3.0	2.0	1292	$1,900	$1.47	44d	1	0.03mi
17301 Waldrop Cv Decatur, GA	3.0	2.0	1292	$1,550	$1.20	44d	1	0.09mi
17301 Waldrop Cv Decatur, GA	3.0	2.0	1292	$1,550	$1.20	19d	1	0.09mi
3101 Waldrop Pl Decatur, GA	3.0	2.0	1290	$1,395	$1.08	44d	1	0.10mi
3489 Waldrop Trl Decatur, GA	3.0	2.5	1400	$1,400	$1.00	44d	1	0.12mi
3474 Waldrop Trl Decatur, GA	3.0	2.5	1412	$800	$0.57	44d	1	0.15mi
3516 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,800	$1.15	44d	1	0.17mi
3525 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,695	$1.09	23d	1	0.19mi
3914 Waldrop Ln Decatur, GA	3.0	3.0	1560	$1,697	$1.09	5d	1	0.26mi
3906 Waldrop Ln Decatur, GA	3.0	2.5	1560	$1,700	$1.09	44d	1	0.28mi
3075 Oakvale Hts Decatur, GA	3.0	2.5	1810	$2,095	$1.16	0d	1	0.28mi
3169 Kingswood Gln Decatur, GA	3.0	2.5	1560	$1,575	$1.01	44d	1	0.34mi
3189 Kingswood Gln Decatur, GA	2.0	2.5	1152	$2,100	$1.82	44d	1	0.38mi
3319 Waldrop Trl Decatur, GA	3.0	2.5	1600	$1,600	$1.00	19d	1	0.39mi
3364 Waldrop Trl Decatur, GA	3.0	3.0	1200	$1,800	$1.50	44d	1	0.39mi
3326 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,761	$1.13	21d	1	0.43mi
3798 Waldrop Ln Decatur, GA	3.0	2.5	1412	$1,680	$1.19	21d	1	0.45mi
3804 Waldrop Ln Decatur, GA	3.0	2.5	1412	$1,850	$1.31	25d	1	0.45mi
3575 Oakvale Rd #402 Decatur, GA	3.0	2.0	1420	$1,623	$1.14	2d	1	0.46mi
3754 Waldrop Ln Decatur, GA	3.0	2.5	1560	$1,625	$1.04	44d	1	0.48mi
3644 Gray Birch Dr Decatur, GA	3.0	2.0	1860	$2,000	$1.08	21d	1	0.49mi
3516 Kingswood Run Unit 1 Decatur, GA	2.0	2.0	988	$1,500	$1.52	25d	1	0.53mi
3575 Oakvale Rd Decatur, GA	3.0–4.0	2.0	1374	$1,095	$0.80	16d	4	0.54mi
4035 Flat Shoals Pkwy Decatur, GA	1.0–3.0	1.0–2.0	893	$1,679	$1.88	0d	28	0.56mi
3574 Saratoga Cir Decatur, GA	3.0	2.5	1500	$2,103	$1.40	23d	1	0.60mi
3205 Quincetree Ln Decatur, GA	2.0	2.0	1218	$1,600	$1.31	19d	1	0.74mi
3186 Quincetree Ln Decatur, GA	2.0	2.0	994	$1,350	$1.36	44d	1	0.75mi
3733 Waldrop Hills Dr Decatur, GA	3.0	2.5	1646	$2,023	$1.23	44d	1	0.75mi
3554 Waldrop Rd Decatur, GA	3.0	2.5	1646	$2,135	$1.30	4d	1	0.79mi
2954 Vining Ridge Ln Decatur, GA	2.0	2.5	1528	$1,495	$0.98	44d	1	0.82mi
2725 Vining Ridge Ter Unit 2725 Decatur, GA	2.0	2.5	1590	$1,500	$0.94	44d	1	0.84mi
3828 Landgraf Cv Decatur, GA	3.0	2.0	1548	$2,073	$1.34	6d	1	0.86mi
2918 Vining Ridge Ter Decatur, GA	2.0	2.5	1528	$1,800	$1.18	6d	1	0.87mi
2945 Woody Ct Decatur, GA	3.0	2.5	1488	$1,850	$1.24	25d	1	0.88mi
3833 Conley Downs Dr Decatur, GA	3.0	1.5	1248	$1,713	$1.37	0d	1	0.90mi
3321 Peppertree Cir Decatur, GA	1.0–3.0	1.0	813	$1,299	$1.60	21d	31	0.90mi
3830 Riverside Pkwy Decatur, GA	3.0	2.5	1286	$1,865	$1.45	0d	1	0.90mi
3716 Cress Way Dr Decatur, GA	4.0	2.5	1669	$2,160	$1.29	0d	1	0.91mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: trashlandscapingexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $100,000 Active 31 DOM
2. 2026-06-18
   days on market $100,000 Active 28 DOM
3. 2026-06-17
   days on market $100,000 Active 27 DOM
4. 2026-06-16
   days on market $100,000 Active 26 DOM
5. 2026-06-15
   days on market $100,000 Active 25 DOM
6. 2026-06-13
   days on market $100,000 Active 23 DOM
7. 2026-06-09
   days on market $100,000 Active 19 DOM
8. 2026-06-08
   days on market $100,000 Active 18 DOM
9. 2026-06-07
   days on market $100,000 Active 17 DOM
10. 2026-06-04
    statusdays on market $100,000 Active 14 DOM
11. 2026-06-03
    days on market $100,000 New 13 DOM
12. 2026-06-02
    days on market $100,000 New 12 DOM
13. 2026-06-01
    days on market $100,000 New 11 DOM
14. 2026-05-31
    days on market $100,000 New 10 DOM
15. 2025-12-28
    historical
16. 2025-08-27
    price $110,000
17. 2025-05-28
    listed $119,000 New
18. 2025-05-19
    listed $100,000 New
19. 2023-12-25
    historical
20. 2023-10-28
    status Price Change
21. 2023-10-28
    price $115,000
22. 2023-09-30
    status Under Contract
23. 2023-05-24
    listed $119,000 New

ⓘ 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: $872 · $73/mo
• Projected year-2 tax: $920 · $77/mo
• Expected delta: +$48/yr (+$4/mo · 5.4%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,968
• − Mortgage interest: −$5,602
• − Property taxes: −$872
• − Insurance: −$500
• − Repairs & maintenance: −$1,677
• − Management: −$1,677
• − HOA: −$3,000
• − Depreciation: −$2,909
• Taxable income: $4,730
• Est. tax owed @ 24.0%: −$1,135
• After-tax cash flow: $4,764/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: Dekalb County
• NCES district ID: 1301740
• Math proficiency: 19% ▼ -12.00%
• Reading proficiency: 28% ▼ -7.00%
• Median HH income: $51,448
• Composite: 20.92/100
• National rank: #8482
• State rank: #125 of 174 in GA

Livability — Panthersville

• Score: 66/100
• State rank: #180
• US rank: #11244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dekalb County · 782,738 people
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 41,847
• Household income: $63,517
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1659.0

Population outlook (DeKalb County) Hauer SSP2

• Today (2025): 839,977 people
• By 2030: 891,768 · +6.2%
• By 2040: 988,894 · +17.7%
• By 2050: 1,074,583 · +27.9%
• By 2075: 1,245,026 · +48.2%
• By 2100: 1,303,135 · +55.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (90%)
• Race & ethnicity: Black 90% White 4% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Hispanic 1% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 93% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · DeKalb

• 2024 margin: Solid D (+64.8) · D 81.9% · R 17.1% · Other 1.0%
• 2008→2024 swing: +6.1pp toward D · 2008: 58.6pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+67.4 2016: D+64.8 2012: D+56.8 2008: D+58.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.92%
• Current HPI: 209.5638
• Rent YoY: ▲ 2.18%
• 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

-7.6% since first listed

9 events — show timeline

• 2025-12-28 Listing Removed — GAMLS
• 2025-08-27 Price Changed $110,000 GAMLS
• 2025-05-28 Listed $119,000 GAMLS
• 2025-05-19 Listed $100,000 GAMLS
• 2023-12-25 Listing Removed — GAMLS
• 2023-10-28 Relisted — GAMLS
• 2023-10-28 Price Changed $115,000 GAMLS
• 2023-09-30 Pending — GAMLS
• 2023-05-24 Listed $119,000 GAMLS

Property tax history

+1.8%/yr

Latest (2025): $872 · -8.0% YoY. Source: county tax records.