3875 Micah Ln · Panthersville, GA 30294

$259,900

3 bd · 2.5 ba · 1,788 sqft · SingleFamily public records · 15 Days on market

Built 2005 8,276 sqft lot $145/sqft · at area comps Est $262k · at est. $13/mo HOA · 1% of rent

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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 +13.7/30.0
• ARV discount +7.9/15.0
• DSCR +4.1/10.0
• Rent growth +3.6/5.0
• 1% rule +3.5/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome Home to Comfort and Convenience in Ellenwood! Experience the perfect blend of suburban tranquility and urban accessibility as this property places you minutes away from highways all while being nestled in a quiet community. Step inside to discover a meticulously maintained interior that exudes comfort and functionality. The eat-in kitchen is spacious with an open layout, making meal preparation a delight. The open concept family/living room features a charming fireplace and access to the dining area, creating a cozy ambiance for gatherings and relaxation. The spacious bedrooms offer plenty of space for personalization and comfort. The generously sized owner's suite is a true haven,

Key facts

• En suite bathroom
• Charming fireplace
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• OPEN CONCEPT FAMILY ROOM
• CHARMING FIREPLACE
• EN SUITE BATHROOM
• LUXURIOUS GARDEN TUB

Property features AI

Finance

• Other: Listing accepts Cash, Conventional, FHA and VA financing
• HOA & community: Homeowners association with a $150 fee (fee does not include anything); No community features listed

Exterior

• Parking: Garage with space for 2 vehicles
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence (house); Resale property
• Construction: Built in 2005; Brick construction; Composition roof
• Exterior features: Brick construction; Composition roof; Lot about 0.19 acres; Lot features: Other

Interior

• Kitchen: Dishwasher
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One-level layout; Family room; Fireplace (1); Other interior features
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $18 ($210/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 $220k (15.3% below list).
• Recommended offer: $220k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.3% in Panthersville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 Elementary School (math 15% / reading 24%, grade F, #873 of 1,228 statewide, top 71%, 565 students, 100% FRL); 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.
• Market conditions: Rents rising fast (+4.6%/yr); 254 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 33% of the median local income ($80k/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 $8k 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $107k; list at $260k implies a 143% gain — meaningful room to come down on a strong offer.

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 $220,007 (15.3% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.85% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 9.8

CMA / ARV

• ARV (median comp): $262,079
• List price: $259,900
• Delta: -0.83%
• Verdict: FAIR
• Comps: 15 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2280 Rainforest Cir	0.49mi	3/2.0	1,804 (+1%)	4mo	$225,000	$125	70
3840 Rolling Pl	0.22mi	3/2.0	1,602 (-10%)	3mo	$228,000	$142	68
3779 Rolling Pl	0.23mi	4/3.0 (+1)	1,680 (-6%)	6mo	$232,000	$138	67
2365 Rock Hollow Dr	0.18mi	3/2.0	1,602 (-10%)	7mo	$212,000	$132	67
3787 Rolling Pl	0.23mi	4/3.5 (+1)	1,680 (-6%)	5mo	$225,000	$134	66
3716 Satellite Blvd	0.47mi	4/3.0 (+1)	1,708 (-4%)	1mo	$272,000	$159	62
2600 Waterfall Ct	0.56mi	3/2.5	1,912 (+7%)	0mo	$229,900	$120	62
2340 Big Pine Ct	0.48mi	4/2.0 (+1)	1,665 (-7%)	0mo	$161,525	$97	59
3664 Satellite Ter	0.68mi	3/2.0	1,808 (+1%)	7mo	$217,000	$120	59
2413 Tolliver Hills Ln	0.42mi	3/2.0	1,557 (-13%)	1mo	$215,000	$138	56
3735 River Lake Shr	0.52mi	3/2.5	1,574 (-12%)	3mo	$197,000	$125	53
3751 Summit Trce	0.75mi	4/2.5 (+1)	1,848 (+3%)	3mo	$320,000	$173	52

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 · 4.56% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.48×
• Total profit: $-37,505
• Equity at exit: $38,752

10-year hold

• IRR: -3.2%
• Equity multiple: 0.77×
• Total profit: $-16,419
• Equity at exit: $22,471

Cash invested: $72,772 (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 30294

• Home prices YoY: -25.0%
• Rents YoY: 4.6%
• Active inventory: 254
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,200 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$236 /mo · $2,835/yr
• Insurance: −$108
• HOA: −$13
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $18

Break-even live

Break-even rent $2,178

Max offer price $259,900

Occupancy floor 94%

Sensitivity live

Price	-10% $165	-5% $91	+0% $18	+5% $-56	+10% $-130
Rent	-10% $-156	-5% $-69	+0% $18	+5% $104	+10% $191
Rate	-1.0pp $148	-0.5pp $84	base $18	+0.5pp $-50	+1.0pp $-118

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2616 Micah Dr Ellenwood, GA	4.0	2.0	2011	$1,985	$0.99	45d	1	0.11mi
2424 Broad River Pl Ellenwood, GA	4.0	2.5	2056	$2,250	$1.09	26d	1	0.25mi
2419 Broad River Pl Ellenwood, GA	4.0	3.0	2056	$2,431	$1.18	1d	1	0.25mi
2327 Tolliver Pl Ellenwood, GA	4.0	2.5	1688	$2,111	$1.25	45d	1	0.37mi
2526 Riverwood Spg Ellenwood, GA	4.0	3.0	2354	$2,460	$1.05	26d	1	0.39mi
3784 River Lake Shr Ellenwood, GA	3.0	2.0	1775	$1,900	$1.07	22d	1	0.49mi
3060 Orbit Cir Ellenwood, GA	3.0	2.0	1916	$1,789	$0.93	3d	1	0.57mi
3531 Weathered Wood Dr Ellenwood, GA	3.0	2.0	2151	$2,290	$1.06	18d	1	0.61mi
3691 Connor Dr Ellenwood, GA	3.0	3.0	1400	$1,900	$1.36	45d	1	0.89mi
3679 Bouldercrest Rd Ellenwood, GA	3.0	3.5	1500	$1,900	$1.27	45d	1	0.90mi
4149 Connor Dr Ellenwood, GA	4.0	3.0	1288	$2,000	$1.55	45d	1	0.96mi
4149 Connor Dr Ellenwood, GA	4.0	3.0	2300	$1,975	$0.86	6d	1	0.96mi
1952 Boulder Hills Dr Ellenwood, GA	3.0	2.0	1410	$1,875	$1.33	45d	1	0.97mi
3763 Soapstone Rd Decatur, GA	3.0	3.0	1400	$1,700	$1.21	26d	1	0.97mi
3581 Oakvale Falls Ct Decatur, GA	3.0	2.5	1998	$2,080	$1.04	45d	1	1.14mi
2141 Silva Ct Conley, GA	4.0	2.5	2097	$2,180	$1.04	26d	1	1.17mi
4265 Loveless Pl Ellenwood, GA	3.0	2.0	1426	$1,715	$1.20	24d	1	1.23mi
3574 Saratoga Cir Decatur, GA	3.0	2.5	1500	$2,103	$1.40	24d	1	1.24mi
1997 Boulder Gate Dr Ellenwood, GA	4.0	3.5	2506	$2,430	$0.97	45d	1	1.28mi
3575 Oakvale Rd Decatur, GA	3.0–4.0	2.0	1374	$1,095	$0.80	17d	4	1.31mi
2059 Oak Terrace Dr SE Atlanta, GA	3.0	2.0	1606	$2,055	$1.28	7d	1	1.37mi
2945 Woody Ct Decatur, GA	3.0	2.5	1488	$1,850	$1.24	26d	1	1.37mi
3575 Oakvale Rd #402 Decatur, GA	3.0	2.0	1420	$1,623	$1.14	3d	1	1.37mi
2943 Duncan Pl Decatur, GA	4.0	2.5	2168	$2,800	$1.29	45d	1	1.42mi

HOA detail

• Monthly dues: $13 · $156/yr

Listing history 22 events

1. 2026-06-04
   status $259,900 Under Contract 15 DOM
2. 2026-06-03
   days on market $259,900 Active 15 DOM
3. 2026-06-02
   statusdays on market $259,900 Active 14 DOM
4. 2026-06-01
   days on market $259,900 New 13 DOM
5. 2026-05-31
   days on market $259,900 New 12 DOM
6. 2026-05-06
   historical
7. 2026-03-04
   price $259,900
8. 2025-12-31
   historical
9. 2025-10-07
   price $269,900
10. 2025-09-09
    listed $269,900 New
11. 2025-09-09
    listed $279,900 New
12. 2025-09-09
    listed $259,900 New
13. 2016-10-21
    soldstatus $107,000 Sold
14. 2016-10-21
    soldstatus $107,000
15. 2016-10-19
    status Under Contract
16. 2016-09-16
    price $107,000
17. 2016-09-16
    status Back on Market
18. 2016-05-20
    status Pending Offer Approval
19. 2016-04-12
    status Pending Offer Approval
20. 2016-03-09
    status Back On Market
21. 2016-03-08
    status Under Contract
22. 2015-04-08
    listed $105,000 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: $2,835 · $236/mo
• Projected year-2 tax: $2,835 · $236/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 2/10 Low
• 🌡 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,401
• − Mortgage interest: −$14,558
• − Property taxes: −$2,835
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − HOA: −$156
• − Depreciation: −$7,561
• Taxable loss: −$4,233
• Est. tax savings @ 24.0%: +$1,016
• After-tax cash flow: $1,226/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: Henry County · 316,359 people
• City population: 29,210
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 41,983
• Household income: $79,762
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 864.0

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 (84%)
• Race & ethnicity: Black 84% Hispanic / Latino 7% Two or more races 6% White 6% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Hispanic 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 6% Vietnamese 1% 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: ▼ -70.99%
• Current HPI: 213.1999
• Rent YoY: ▲ 4.56%
• 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

+147.5% since first listed

18 events — show timeline

• 2026-06-03 Pending — GAMLS
• 2026-05-06 Listing Removed — GAMLS
• 2026-03-04 Price Changed $259,900 GAMLS
• 2025-12-31 Listing Removed — GAMLS
• 2025-10-07 Price Changed $269,900 GAMLS
• 2025-09-09 Listed $279,900 GAMLS
• 2025-09-09 Listed $269,900 GAMLS
• 2025-09-09 Listed $259,900 GAMLS
• 2016-10-21 Sold (Public Records) $107,000 Public Records
• 2016-10-21 Sold (MLS) $107,000 GAMLS
• 2016-10-19 Pending — GAMLS
• 2016-09-16 Price Changed $107,000 GAMLS
• 2016-09-16 Relisted — GAMLS
• 2016-05-20 Pending — GAMLS
• 2016-04-12 Pending — GAMLS
• 2016-03-09 Relisted — GAMLS
• 2016-03-08 Pending — GAMLS
• 2015-04-08 Listed $105,000 GAMLS

Property tax history

+8.9%/yr

Latest (2025): $2,835 · -5.4% YoY. Source: county tax records.