5502 E Mountain St · Stone Mountain, GA 30083

$449,000

5 bd · 3.0 ba · 2,328 sqft · MultiFamily public records · 225 Days on market

Built 1950 10,454 sqft lot

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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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Back on the market after much anticipation! Don't miss this incredibly rare opportunity to own the only official triplex in the highly sought-after Historic Stone Mountain Village! Postured mere steps from the foot of the mountain on the city's most picturesque street, this triple-threat won't last long. The two identical main-level units offer thoughtful renovations, yet preserve their historic charm with features like soaring 10-foot beadboard ceilings, original fireplaces, and beautiful original hardwood floors. The light-filled upper loft unit features an updated kitchen and a unique floor plan that maximizes space. All of this on a spacious lot with ample room for parking and gardening. Less than 1 block from Stone Mountain Park's pedestrian entrance, bike trails, and 3200 acres of boundless nature. Two blocks away from Main Street's restaurants and breweries (Cherokee Rose, Front Porch Taqueria, Outrun Brewery, The Vibrary Wine + Bookbar, and the soon-coming Java Vino, to name a few!) Perfect for investors, bed & breakfast venturers, or extended families looking for more space. Schedule a showing!

Key facts

• Unique floor plan
• Historic charm
• Beadboard ceilings

Tags

• HISTORIC CHARM
• BEADBOARD CEILINGS
• ORIGINAL FIREPLACES
• ORIGINAL HARDWOOD FLOORS
• UPDATED KITCHEN
• UNIQUE FLOOR PLAN

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $449k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive. Per door: $145/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $449k).
• Recommended offer: $395k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 5.1% in Stone Mountain — 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 79/100 on livability (#11 in GA, #1,977 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, crime 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.
• Market conditions: Rents rising (+1.3%/yr); 257 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• At $4,640/mo this rent would consume 101% of the median local household income ($55k/yr) (locally 3574% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 225 days — a 12% lower offer ($395k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.
• Current owner paid $135k; list at $449k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $395,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.03% ✓
• Cap rate: 7.46%
• Cash-on-cash: 4.15%
• DSCR: 1.18
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.58×
• Total profit: $-52,651
• Equity at exit: $66,947

10-year hold

• IRR: -5.3%
• Equity multiple: 0.68×
• Total profit: $-40,332
• Equity at exit: $38,821

Cash invested: $125,720 (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 30083

• Rents YoY: 1.3%
• Active inventory: 257
• Price-to-rent: 24.2×

Monthly cashflow live

• Estimated rent: $4,640 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$689 /mo · $8,265/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$974
• Net cashflow: $435

Break-even live

Break-even rent $4,089

Max offer price $449,000

Occupancy floor 86%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$4,641
Total (3 units)			$4,640

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5509 Stonehaven Way Stone Mountain, GA	4.0	3.0	1635	$1,899	$1.16	22d	1	1.20mi

Listing history 22 events

1. 2026-06-18
   days on market $449,000 Active 225 DOM
2. 2026-06-17
   days on market $449,000 Active 224 DOM
3. 2026-06-16
   days on market $449,000 Active 223 DOM
4. 2026-06-15
   days on market $449,000 Active 222 DOM
5. 2026-06-13
   days on market $449,000 Active 220 DOM
6. 2026-06-09
   days on market $449,000 Active 216 DOM
7. 2026-06-08
   days on market $449,000 Active 215 DOM
8. 2026-06-07
   days on market $449,000 Active 214 DOM
9. 2026-06-04
   days on market $449,000 Active 211 DOM
10. 2026-06-03
    days on market $449,000 Active 210 DOM
11. 2026-06-02
    days on market $449,000 Active 209 DOM
12. 2026-06-01
    days on market $449,000 Active 208 DOM
13. 2026-05-31
    days on market $449,000 Active 207 DOM
14. 2025-11-05
    listed $449,000 Active 1124-char remark

    Show marketing remark (1124 chars)

    Back on the market after much anticipation! Don't miss this incredibly rare opportunity to own the only official triplex in the highly sought-after Historic Stone Mountain Village! Postured mere steps from the foot of the mountain on the city's most picturesque street, this triple-threat won't last long. The two identical main-level units offer thoughtful renovations, yet preserve their historic charm with features like soaring 10-foot beadboard ceilings, original fireplaces, and beautiful original hardwood floors. The light-filled upper loft unit features an updated kitchen and a unique floor plan that maximizes space. All of this on a spacious lot with ample room for parking and gardening. Less than 1 block from Stone Mountain Park's pedestrian entrance, bike trails, and 3200 acres of boundless nature. Two blocks away from Main Street's restaurants and breweries (Cherokee Rose, Front Porch Taqueria, Outrun Brewery, The Vibrary Wine + Bookbar, and the soon-coming Java Vino, to name a few!) Perfect for investors, bed & breakfast venturers, or extended families looking for more space. Schedule a showing!

15. 2025-08-18
    historical
16. 2025-08-18
    historical
17. 2025-07-14
    listed $459,000 New
18. 2025-05-28
    price $459,000
19. 2025-04-03
    listed $479,000 Active
20. 2015-12-10
    soldstatus $135,000
21. 2015-10-27
    price $160,000
22. 2007-03-15
    soldstatus $179,000

ⓘ 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: $8,265 · $689/mo
• Projected year-2 tax: $8,265 · $689/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 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,680
• − Mortgage interest: −$25,151
• − Property taxes: −$8,265
• − Insurance: −$2,245
• − Repairs & maintenance: −$4,454
• − Management: −$4,454
• − Depreciation: −$13,062
• Taxable loss: −$1,951
• Est. tax savings @ 24.0%: +$468
• After-tax cash flow: $5,691/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 — Stone Mountain

• Score: 79/100
• State rank: #11
• US rank: #1977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stone Mountain, GA
• County: Dekalb County · 782,738 people
• City population: 130,941
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,724
• Household income: $55,307
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 3574.0

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 (75%)
• Race & ethnicity: Black 75% White 8% Asian 8% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Arab 1%
• Foreign-born: 24% · Canada, Vietnam, India
• Languages at home: 71% English-only · Spanish 4% Other Indo-European 4% Vietnamese 2%

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: ▼ -213.61%
• Current HPI: 216.2527
• Rent YoY: ▲ 1.31%
• 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

+150.8% since first listed

9 events — show timeline

• 2025-11-05 Listed $449,000 FMLS
• 2025-08-18 Listing Removed — GAMLS
• 2025-08-18 Listing Removed — FMLS
• 2025-07-14 Listed $459,000 GAMLS
• 2025-05-28 Price Changed $459,000 FMLS
• 2025-04-03 Listed $479,000 FMLS
• 2015-12-10 Sold (Public Records) $135,000 Public Records
• 2015-10-27 Price Changed $160,000 GAMLS
• 2007-03-15 Sold (Public Records) $179,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $8,265 · +8.4% YoY. Source: county tax records.