1203 Waldrop Pl · Panthersville, GA 30034

$89,999

3 bd · 2.0 ba · 1,292 sqft · Condo public records · 102 Days on market

Built 2004 $70/sqft · 8% below area Est $98k · 8% under $250/mo HOA · 14% of rent

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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
• ARV discount +11.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Owner Financing Available – Investment Opportunity! Welcome to this spacious 3-Bedroom / 2-Full Bathroom condo built in 2004, offering approximately 1,300 sq ft of comfortable living space on the second floor. Whether you're an investor looking for strong rental potential or a buyer seeking flexible purchase options, this property presents an excellent opportunity. Owner financing available – ask about flexible terms! 3 Bedrooms / 2 Full Bathrooms Approx. 1,292 sq ft Built in 2004 Second-floor unit Ideal for investors, landlords, or house hackers Investment Potential: Market rents are estimated up to $1,400/month or more, making this a strong cash-flow opportunity in today’s rental market. Occupancy: The property is currently tenant-occupied but will be delivered vacant at closing. Please do not disturb the current tenants. Additional photos coming soon! This is a rare chance to secure a low-maintenance rental property with owner financing options — perfect for investors looking to expand their portfolio or buyers seeking creative purchase solutions.

Key facts

• $250 HOA
• Built 2004
• Listed 102 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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-, schools D+, employment D.
• 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.
• Market conditions: Rents rising (+2.2%/yr); 353 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $622 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask is 6567% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% 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 $81,899 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.93% ✓
• Cap rate: 12.28%
• Cash-on-cash: 21.40%
• DSCR: 1.95
• GRM: 4.3

CMA / ARV

• ARV (median comp): $97,549
• List price: $89,999
• Delta: -7.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 12.9%
• Equity multiple: 1.51×
• Total profit: $12,827
• Equity at exit: $13,419

10-year hold

• IRR: 21.1%
• Equity multiple: 2.71×
• Total profit: $43,145
• Equity at exit: $7,781

Cash invested: $25,200 (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: 353
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,735 high
• Mortgage (P&I): −$472
• Tax from tax record: −$162 /mo · $1,943/yr
• Insurance: −$37
• HOA: −$250
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $449

Break-even live

Break-even rent $1,166

Max offer price $89,999

Occupancy floor 69%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3101 Waldrop Pl Decatur, GA	3.0	2.0	1290	$1,395	$1.08	43d	1	0.03mi
11101 Waldrop Pl Decatur, GA	3.0	2.0	1293	$1,550	$1.20	43d	1	0.10mi
17301 Waldrop Cv Decatur, GA	3.0	2.0	1292	$1,550	$1.20	18d	1	0.11mi
17301 Waldrop Cv Decatur, GA	3.0	2.0	1292	$1,550	$1.20	43d	1	0.11mi
6201 Waldrop Pl Decatur, GA	3.0	2.0	1300	$1,350	$1.04	18d	1	0.11mi
6303 Waldrop Pl Decatur, GA	3.0	2.0	1292	$1,900	$1.47	43d	1	0.11mi
3489 Waldrop Trl Decatur, GA	3.0	2.5	1400	$1,400	$1.00	43d	1	0.13mi
3474 Waldrop Trl Decatur, GA	3.0	2.5	1412	$800	$0.57	43d	1	0.13mi
3516 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,800	$1.15	43d	1	0.16mi
3525 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,695	$1.09	21d	1	0.19mi
3914 Waldrop Ln Decatur, GA	3.0	3.0	1560	$1,697	$1.09	3d	1	0.24mi
3906 Waldrop Ln Decatur, GA	3.0	2.5	1560	$1,700	$1.09	43d	1	0.26mi
3319 Waldrop Trl Decatur, GA	3.0	2.5	1600	$1,600	$1.00	18d	1	0.31mi
3169 Kingswood Gln Decatur, GA	3.0	2.5	1560	$1,575	$1.01	43d	1	0.31mi
3364 Waldrop Trl Decatur, GA	3.0	3.0	1200	$1,800	$1.50	43d	1	0.32mi
3326 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,761	$1.13	20d	1	0.35mi
3189 Kingswood Gln Decatur, GA	2.0	2.5	1152	$2,100	$1.82	43d	1	0.36mi
3075 Oakvale Hts Decatur, GA	3.0	2.5	1810	$2,120	$1.17	12d	1	0.36mi
3798 Waldrop Ln Decatur, GA	3.0	2.5	1412	$1,680	$1.19	20d	1	0.39mi
3804 Waldrop Ln Decatur, GA	3.0	2.5	1412	$1,850	$1.31	24d	1	0.40mi
3754 Waldrop Ln Decatur, GA	3.0	2.5	1560	$1,625	$1.04	43d	1	0.43mi
4035 Flat Shoals Pkwy Decatur, GA	1.0–3.0	1.0–2.0	893	$1,679	$1.88	1d	34	0.47mi
3516 Kingswood Run Unit 1 Decatur, GA	2.0	2.0	988	$1,500	$1.52	24d	1	0.51mi
3575 Oakvale Rd #402 Decatur, GA	3.0	2.0	1420	$1,623	$1.14	1d	1	0.54mi
3644 Gray Birch Dr Decatur, GA	3.0	2.0	1860	$2,000	$1.08	20d	1	0.56mi
3575 Oakvale Rd Decatur, GA	3.0–4.0	2.0	1374	$1,095	$0.80	15d	4	0.63mi
3205 Quincetree Ln Decatur, GA	2.0	2.0	1218	$1,600	$1.31	18d	1	0.65mi
3186 Quincetree Ln Decatur, GA	2.0	2.0	994	$1,350	$1.36	43d	1	0.66mi
3574 Saratoga Cir Decatur, GA	3.0	2.5	1500	$2,103	$1.40	21d	1	0.69mi
3733 Waldrop Hills Dr Decatur, GA	3.0	2.5	1646	$2,023	$1.23	43d	1	0.72mi
2954 Vining Ridge Ln Decatur, GA	2.0	2.5	1528	$1,495	$0.98	43d	1	0.73mi
3554 Waldrop Rd Decatur, GA	3.0	2.5	1646	$2,135	$1.30	2d	1	0.75mi
2725 Vining Ridge Ter Unit 2725 Decatur, GA	2.0	2.5	1590	$1,500	$0.94	43d	1	0.76mi
2918 Vining Ridge Ter Decatur, GA	2.0	2.5	1528	$1,800	$1.18	5d	1	0.79mi
3321 Peppertree Cir Decatur, GA	1.0–3.0	1.0	813	$1,299	$1.60	20d	31	0.81mi
2805 Vining Ridge Ter Decatur, GA	3.0	2.5	1664	$1,600	$0.96	43d	1	0.83mi
2868 Vining Ridge Ter Decatur, GA	2.0	2.5	1528	$1,499	$0.98	18d	1	0.87mi
3859 Flat Shoals Pkwy Decatur, GA	1.0–2.0	1.0–2.5	1018	$1,400	$1.37	12d	7	0.89mi
3800 Flat Shoals Pkwy Decatur, GA	2.0–3.0	1.5–2.5	1370	$1,711	$1.25	1d	51	0.89mi
2840 Vining Ridge Ter Unit 1 Decatur, GA	3.0	2.5	1433	$1,425	$0.99	2d	1	0.90mi

HOA detail condo

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

Listing history 27 events

1. 2026-06-18
   days on market $89,999 Active 102 DOM
2. 2026-06-17
   days on market $89,999 Active 101 DOM
3. 2026-06-16
   days on market $89,999 Active 100 DOM
4. 2026-06-15
   days on market $89,999 Active 99 DOM
5. 2026-06-13
   days on market $89,999 Active 97 DOM
6. 2026-06-09
   days on market $89,999 Active 93 DOM
7. 2026-06-08
   days on market $89,999 Active 92 DOM
8. 2026-06-07
   days on market $89,999 Active 91 DOM
9. 2026-06-04
   days on market $89,999 Active 88 DOM
10. 2026-06-03
    days on market $89,999 Active 87 DOM
11. 2026-06-02
    days on market $89,999 Active 86 DOM
12. 2026-06-01
    days on market $89,999 Active 85 DOM
13. 2026-05-31
    days on market $89,999 Active 84 DOM
14. 2026-05-08
    historical
15. 2026-04-20
    historical $1,350
16. 2026-03-25
    listed $1,350
17. 2026-03-08
    listed $89,999 New

    Show marketing remark (1126 chars)

    Owner Financing Available – Investment Opportunity! Welcome to this spacious 3-Bedroom / 2-Full Bathroom condo built in 2004, offering approximately 1,300 sq ft of comfortable living space on the second floor. Whether you're an investor looking for strong rental potential or a buyer seeking flexible purchase options, this property presents an excellent opportunity. Owner financing available – ask about flexible terms! 3 Bedrooms / 2 Full Bathrooms Approx. 1,292 sq ft Built in 2004 Second-floor unit Ideal for investors, landlords, or house hackers Investment Potential: Market rents are estimated up to $1,400/month or more, making this a strong cash-flow opportunity in today’s rental market. Occupancy: The property is currently tenant-occupied but will be delivered vacant at closing. Please do not disturb the current tenants. Additional photos coming soon! This is a rare chance to secure a low-maintenance rental property with owner financing options — perfect for investors looking to expand their portfolio or buyers seeking creative purchase solutions.

18. 2026-03-08
    listed $89,999 Active 1126-char remark

    Show marketing remark (1126 chars)

    Owner Financing Available – Investment Opportunity! Welcome to this spacious 3-Bedroom / 2-Full Bathroom condo built in 2004, offering approximately 1,300 sq ft of comfortable living space on the second floor. Whether you're an investor looking for strong rental potential or a buyer seeking flexible purchase options, this property presents an excellent opportunity. Owner financing available – ask about flexible terms! 3 Bedrooms / 2 Full Bathrooms Approx. 1,292 sq ft Built in 2004 Second-floor unit Ideal for investors, landlords, or house hackers Investment Potential: Market rents are estimated up to $1,400/month or more, making this a strong cash-flow opportunity in today’s rental market. Occupancy: The property is currently tenant-occupied but will be delivered vacant at closing. Please do not disturb the current tenants. Additional photos coming soon! This is a rare chance to secure a low-maintenance rental property with owner financing options — perfect for investors looking to expand their portfolio or buyers seeking creative purchase solutions.

19. 2025-10-23
    historical $1,350
20. 2025-10-09
    listed $1,350
21. 2025-09-08
    historical $1,300
22. 2025-08-12
    price $1,300
23. 2025-07-09
    listed $1,350
24. 2024-03-18
    historical $1,300
25. 2024-02-23
    price $1,300
26. 2024-02-08
    listed $1,350
27. 2022-03-03
    price $1,350

ⓘ 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: $1,943 · $162/mo
• Projected year-2 tax: $1,943 · $162/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 · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $20,822
• − Mortgage interest: −$5,041
• − Property taxes: −$1,943
• − Insurance: −$450
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − HOA: −$3,000
• − Depreciation: −$2,618
• Taxable income: $4,438
• Est. tax owed @ 24.0%: −$1,065
• After-tax cash flow: $4,327/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

+0.0% since first listed

14 events — show timeline

• 2026-05-08 Listing Removed — GAMLS
• 2026-04-20 Rental Removed $1,350 BUILDIUM
• 2026-03-25 Listed for Rent $1,350 BUILDIUM
• 2026-03-08 Listed $89,999 FMLS
• 2026-03-08 Listed $89,999 GAMLS
• 2025-10-23 Rental Removed $1,350 BUILDIUM
• 2025-10-09 Listed for Rent $1,350 BUILDIUM
• 2025-09-08 Rental Removed $1,300 BUILDIUM
• 2025-08-12 Price Changed $1,300 BUILDIUM
• 2025-07-09 Listed for Rent $1,350 BUILDIUM
• 2024-03-18 Rental Removed $1,300 BUILDIUM
• 2024-02-23 Price Changed $1,300 BUILDIUM
• 2024-02-08 Listed for Rent $1,350 BUILDIUM
• 2022-03-03 Price Changed $1,350 BUILDIUM

Property tax history

+1.3%/yr

Latest (2025): $1,943 · -1.9% YoY. Source: county tax records.