192 Highway 138 E · Stockbridge, GA 30281

$129,900

4 bd · 2.0 ba · 1,232 sqft · SingleFamily public records · 10 Days on market

Built 1962 0.55 ac lot Est $116k · 12% over

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This single-family residence offers a functional and comfortable layout with 4 bedrooms and 2 bathrooms, ideal for investors or first time home buyers looking to earn some sweat equity. The home features a spacious floor plan with multiple living areas, a practical kitchen setup, and generous natural light throughout. Situated on a sizable lot, the property provides ample outdoor space suitable for entertaining, gardening, or future enhancements. Conveniently located near shopping, dining, and major commuter routes, this home offers both accessibility and everyday convenience in the heart of Stockbridge.

Key facts

• Ample outdoor space
• Functional layout
• Sizable lot

Tags

• FUNCTIONAL LAYOUT
• MULTIPLE LIVING AREAS
• PRACTICAL KITCHEN SETUP
• GENEROUS NATURAL LIGHT
• SIZABLE LOT
• AMPLE OUTDOOR SPACE

Property features AI

Exterior

• Parking: Driveway parking; Garage (1 garage space); Open parking available
• Utilities: Central air conditioning; Central heating; Water: Other; Electric: 220 volts and other; Sewer: Other; Utilities: Other
• Home design: One-and-a-half story home; Resale property; Brick on all four sides
• Construction: Brick 4-sides construction; Composition roof; Slab foundation; Built prior to current listing (resale)
• Exterior features: Deck; Patio; Asphalt road frontage on a city street

Interior

• Kitchen: Breakfast bar; White cabinets; Eat-in kitchen; Open view to the family room; Electric range
• Bedrooms: Three upstairs bedrooms; One lower-level bedroom; In-law floorplan
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; Master bathroom with double vanity and separate his-and-hers features
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Entrance foyer; His and hers closets; No shared/common walls; Den; Daylight basement with driveway access
• Laundry & utility: Laundry: Other (details not specified)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $530 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 11.2% vs local median 4.2% in Stockbridge — 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 60/100 on livability (#389 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: crime D, amenities F, commute F.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Pate'S Creek Elementary School (math 27% / reading 27%, grade F, #689 of 1,228 statewide, top 58%, 533 students, 62% FRL); Stockbridge Middle School (math 11% / reading 22%, grade F, #388 of 470 statewide, top 83%, 611 students, 70% FRL); Stockbridge High School (math 5% / reading 28%, grade F, #284 of 424 statewide, top 67%, 1,543 students, 54% FRL) — zoned schools average 62% FRL vs 43% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 617 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).
• This rent runs 33% of the median local income ($71k/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 $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Henry County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.
• 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 $129,900

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.52% ✓
• Cap rate: 11.19%
• Cash-on-cash: 17.47%
• DSCR: 1.78
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $115,808
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Shari Ct	0.52mi	3/2.0 (-1)	1,176 (-4%)	4mo	$110,000	$94	60
165 Brown Rd	0.61mi	4/2.0	1,256 (+2%)	21mo	$243,000	$193	50
125 Rhonda Dr	0.58mi	3/2.0 (-1)	1,296 (+5%)	20mo	$80,000	$62	43

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 · 0.87% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.24×
• Total profit: $8,640
• Equity at exit: $19,369

10-year hold

• IRR: 13.5%
• Equity multiple: 1.96×
• Total profit: $35,086
• Equity at exit: $11,231

Cash invested: $36,372 (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 30281

• Home prices YoY: -33.6%
• Rents YoY: 0.9%
• Active inventory: 617
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,979 high
• Mortgage (P&I): −$681
• Tax from tax record: −$298 /mo · $3,582/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $530

Break-even live

Break-even rent $1,309

Max offer price $129,900

Occupancy floor 68%

Sensitivity live

Price	-10% $603	-5% $566	+0% $530	+5% $493	+10% $456
Rent	-10% $373	-5% $451	+0% $530	+5% $608	+10% $686
Rate	-1.0pp $595	-0.5pp $563	base $530	+0.5pp $496	+1.0pp $462

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Glenwood Way Stockbridge, GA	1.0–3.0	1.0–2.0	981	$1,821	$1.86	0d	21	0.13mi
15 Dixie Dr Stockbridge, GA	3.0	1.0	864	$1,700	$1.97	46d	1	0.35mi
245 Pinehurst Dr Stockbridge, GA	3.0	2.0	1340	$1,706	$1.27	46d	1	1.09mi
200 Pinehurst Dr Stockbridge, GA	3.0	2.0	1200	$1,595	$1.33	14d	1	1.10mi
1900 Waterford Lndg McDonough, GA	1.0–3.0	1.5–2.0	1159	$1,757	$1.52	1d	26	1.38mi
217 Briarpatch Ct Stockbridge, GA	3.0	2.0	1228	$1,995	$1.62	46d	1	1.47mi

Listing history 33 events

1. 2026-05-01
   status Pending
2. 2026-04-27
   historical Active Under Contract 611-char remark

   Show marketing remark (611 chars)

   This single-family residence offers a functional and comfortable layout with 4 bedrooms and 2 bathrooms, ideal for investors or first time home buyers looking to earn some sweat equity. The home features a spacious floor plan with multiple living areas, a practical kitchen setup, and generous natural light throughout. Situated on a sizable lot, the property provides ample outdoor space suitable for entertaining, gardening, or future enhancements. Conveniently located near shopping, dining, and major commuter routes, this home offers both accessibility and everyday convenience in the heart of Stockbridge.

3. 2026-04-27
   historical Active Under Contract

   Show marketing remark (611 chars)

   This single-family residence offers a functional and comfortable layout with 4 bedrooms and 2 bathrooms, ideal for investors or first time home buyers looking to earn some sweat equity. The home features a spacious floor plan with multiple living areas, a practical kitchen setup, and generous natural light throughout. Situated on a sizable lot, the property provides ample outdoor space suitable for entertaining, gardening, or future enhancements. Conveniently located near shopping, dining, and major commuter routes, this home offers both accessibility and everyday convenience in the heart of Stockbridge.

4. 2026-04-20
   listed $129,900 Active

   Show marketing remark (611 chars)

   This single-family residence offers a functional and comfortable layout with 4 bedrooms and 2 bathrooms, ideal for investors or first time home buyers looking to earn some sweat equity. The home features a spacious floor plan with multiple living areas, a practical kitchen setup, and generous natural light throughout. Situated on a sizable lot, the property provides ample outdoor space suitable for entertaining, gardening, or future enhancements. Conveniently located near shopping, dining, and major commuter routes, this home offers both accessibility and everyday convenience in the heart of Stockbridge.

5. 2026-04-20
   listed $129,900 New 611-char remark

   Show marketing remark (611 chars)

   This single-family residence offers a functional and comfortable layout with 4 bedrooms and 2 bathrooms, ideal for investors or first time home buyers looking to earn some sweat equity. The home features a spacious floor plan with multiple living areas, a practical kitchen setup, and generous natural light throughout. Situated on a sizable lot, the property provides ample outdoor space suitable for entertaining, gardening, or future enhancements. Conveniently located near shopping, dining, and major commuter routes, this home offers both accessibility and everyday convenience in the heart of Stockbridge.

6. 2021-03-23
   soldstatus $147,100
7. 2021-03-18
   soldstatus $147,100 Sold 230-char remark

   Show marketing remark (230 chars)

   Location! Location! Location! This four bedroom, 2 bathroom home is conveniently located near fine dining, shopping and the interstate. Lots of parking space in front and back of home. ***Home is being sold AS IS! Needs TLC!

8. 2021-02-17
   status Under Contract 230-char remark

   Show marketing remark (230 chars)

   Location! Location! Location! This four bedroom, 2 bathroom home is conveniently located near fine dining, shopping and the interstate. Lots of parking space in front and back of home. ***Home is being sold AS IS! Needs TLC!

9. 2021-02-15
   listed $139,900 New 230-char remark

   Show marketing remark (230 chars)

   Location! Location! Location! This four bedroom, 2 bathroom home is conveniently located near fine dining, shopping and the interstate. Lots of parking space in front and back of home. ***Home is being sold AS IS! Needs TLC!

10. 2020-01-30
    soldstatus $113,500 Sold
11. 2020-01-29
    soldstatus $113,500
12. 2020-01-24
    soldstatus $113,500 Closed
13. 2019-12-16
    status Pending
14. 2019-12-13
    historical Active Under Contract
15. 2019-12-11
    status Pending
16. 2019-12-11
    status Under Contract
17. 2019-11-22
    listed $115,000 Active
18. 2019-11-22
    listed $115,000 New
19. 2016-08-17
    soldstatus $88,000
20. 2016-08-02
    soldstatus $88,000 Sold
21. 2016-07-27
    status Under Contract
22. 2016-07-16
    price $79,900
23. 2016-06-30
    price $84,900
24. 2016-06-03
    listed $89,900 New
25. 2016-05-04
    historical
26. 2016-04-27
    historical
27. 2016-04-10
    status Back On Market
28. 2016-04-08
    listed $89,000 New
29. 2016-02-28
    status Under Contract
30. 2016-02-08
    price $102,000
31. 2015-10-20
    listed $109,900 New
32. 2004-02-04
    soldstatus $88,000
33. 1986-10-01
    soldstatus $53,000

ⓘ 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: $3,582 · $298/mo
• Projected year-2 tax: $3,582 · $298/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 ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,747
• − Mortgage interest: −$7,276
• − Property taxes: −$3,582
• − Insurance: −$650
• − Repairs & maintenance: −$1,900
• − Management: −$1,900
• − Depreciation: −$3,779
• Taxable income: $4,661
• Est. tax owed @ 24.0%: −$1,119
• After-tax cash flow: $5,236/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: Henry County
• NCES district ID: 1302820
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $62,594
• Composite: 26.13/100
• National rank: #7279
• State rank: #89 of 174 in GA

Livability — Stockbridge

• Score: 60/100
• State rank: #389
• US rank: #19479

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henry County · 316,359 people
• City population: 71,603
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 71,603
• Household income: $71,213
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 2464.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 249,041 people
• By 2030: 264,369 · +6.2%
• By 2040: 294,459 · +18.2%
• By 2050: 322,249 · +29.4%
• By 2075: 392,310 · +57.5%
• By 2100: 437,836 · +75.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 55% White 28% Hispanic / Latino 11% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Hispanic 1% Italian 1% Romanian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 8% Vietnamese 2% French/Haitian/Cajun 1%

Political lean MEDSL · Henry

• 2024 margin: Strong D (+29.7) · D 64.5% · R 34.9%
• 2008→2024 swing: +37.1pp toward D · 2008: -7.5pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+20.5 2016: D+4.3 2012: R+3.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.76%
• Current HPI: 207.2332
• Rent YoY: ▲ 0.87%
• 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

+145.1% since first listed

33 events — show timeline

• 2026-05-01 Pending — FMLS
• 2026-04-27 Contingent — GAMLS
• 2026-04-27 Contingent — FMLS
• 2026-04-20 Listed $129,900 GAMLS
• 2026-04-20 Listed $129,900 FMLS
• 2021-03-23 Sold (Public Records) $147,100 Public Records
• 2021-03-18 Sold (MLS) $147,100 GAMLS
• 2021-02-17 Pending — GAMLS
• 2021-02-15 Listed $139,900 GAMLS
• 2020-01-30 Sold (MLS) $113,500 GAMLS
• 2020-01-29 Sold (Public Records) $113,500 Public Records
• 2020-01-24 Sold (MLS) $113,500 FMLS
• 2019-12-16 Pending — FMLS
• 2019-12-13 Contingent — FMLS
• 2019-12-11 Pending — FMLS
• 2019-12-11 Pending — GAMLS
• 2019-11-22 Listed $115,000 GAMLS
• 2019-11-22 Listed $115,000 FMLS
• 2016-08-17 Sold (Public Records) $88,000 Public Records
• 2016-08-02 Sold (MLS) $88,000 GAMLS
• 2016-07-27 Pending — GAMLS
• 2016-07-16 Price Changed $79,900 GAMLS
• 2016-06-30 Price Changed $84,900 GAMLS
• 2016-06-03 Listed $89,900 GAMLS
• 2016-05-04 Listing Removed — GAMLS
• 2016-04-27 Listing Removed — GAMLS
• 2016-04-10 Relisted — GAMLS
• 2016-04-08 Listed $89,000 GAMLS
• 2016-02-28 Pending — GAMLS
• 2016-02-08 Price Changed $102,000 GAMLS
• 2015-10-20 Listed $109,900 GAMLS
• 2004-02-04 Sold (Public Records) $88,000 Public Records
• 1986-10-01 Sold (Public Records) $53,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,582 · -8.8% YoY. Source: county tax records.