8602 Creekwood Way · Riverdale, GA 30238

$120,998

3 bd · 2.0 ba · 1,406 sqft · Condo public records · 163 Days on market

Built 1974 $86/sqft · 22% below area Est $156k · 22% under

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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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to a rare find that combines generous space, everyday convenience, and peaceful surroundings-a beautiful property set in a quiet neighborhood just minutes from major highways and a variety of shopping and dining options. This home offers the perfect balance of privacy and accessibility, giving you room to relax, entertain, and enjoy a lifestyle that truly has it all.

Key facts

• Built 1974
• Listed 162 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $121k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $121k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 5.5% in Riverdale — 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 70/100 on livability (#100 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, schools D-, amenities F.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.1%/yr); 259 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); 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• This rent runs 33% of the median local income ($62k/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 $836 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y 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

• 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 $106,478 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 1.43% ✓
• Cap rate: 11.60%
• Cash-on-cash: 18.95%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

• ARV (median comp): $155,604
• List price: $120,998
• Delta: -22.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.06% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.38×
• Total profit: $12,868
• Equity at exit: $18,041

10-year hold

• IRR: 18.1%
• Equity multiple: 2.44×
• Total profit: $48,644
• Equity at exit: $10,462

Cash invested: $33,879 (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 30238

• Home prices YoY: -33.3%
• Rents YoY: 2.1%
• Active inventory: 259
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,733 high
• Mortgage (P&I): −$635
• Tax from tax record: −$149 /mo · $1,792/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $535

Break-even live

Break-even rent $1,056

Max offer price $120,998

Occupancy floor 64%

Sensitivity live

Price	-10% $603	-5% $569	+0% $535	+5% $501	+10% $467
Rent	-10% $398	-5% $467	+0% $535	+5% $603	+10% $672
Rate	-1.0pp $596	-0.5pp $566	base $535	+0.5pp $504	+1.0pp $472

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: $30,250
• Closing costs: $3,630
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8588 Creekwood Way Jonesboro, GA	3.0	1.5	1344	$1,300	$0.97	6d	1	0.04mi
8671 Woodside Ln Jonesboro, GA	2.0	2.0	1025	$1,350	$1.32	13d	1	0.10mi
8671 Woodside Ln Jonesboro, GA	2.0	2.0	1025	$1,350	$1.32	23d	1	0.10mi
785 Redland Dr Jonesboro, GA	4.0	2.0	1496	$1,935	$1.29	13d	1	0.12mi
801 Redland Dr Jonesboro, GA	3.0	2.0	1370	$1,750	$1.28	44d	1	0.12mi
801 Redland Dr Jonesboro, GA	3.0	2.0	1370	$1,725	$1.26	13d	1	0.12mi
634 Morton Ct Unit 636 Jonesboro, GA	2.0	1.5	1050	$1,225	$1.17	44d	1	0.39mi
1022 Brandon Hill Way Jonesboro, GA	3.0	2.0	1022	$1,600	$1.57	0d	1	0.39mi
772 Pointe South Pkwy Jonesboro, GA	3.0	2.5	1202	$1,384	$1.15	44d	1	0.40mi
1 Lakeview Way Jonesboro, GA	2.0	2.0	1160	$1,937	$1.67	25d	1	0.41mi
1 Lakeview Way Jonesboro, GA	2.0	2.0	1160	$1,531	$1.32	44d	1	0.41mi
8641 Thomas Ln Riverdale, GA	4.0	3.0	1540	$1,828	$1.19	0d	1	0.47mi
8643 Thomas Ln Riverdale, GA	3.0	2.5	1530	$1,738	$1.14	0d	1	0.47mi
8631 Thomas Ln Riverdale, GA	3.0	2.5	1530	$1,673	$1.09	23d	1	0.48mi
8609 Thomas Ln Riverdale, GA	3.0	2.5	1530	$1,628	$1.06	0d	1	0.48mi
693 Oak Dr Riverdale, GA	4.0	2.5	1325	$1,825	$1.38	6d	1	0.49mi
8644 Thomas Ln Riverdale, GA	3.0	2.5	1530	$1,623	$1.06	44d	1	0.50mi
8640 Thomas Ln Riverdale, GA	3.0	2.5	1530	$1,643	$1.07	0d	1	0.50mi
8669 Thomas Rd Riverdale, GA	3.0	2.5	1532	$1,623	$1.06	44d	1	0.52mi
8630 Thomas Rd Riverdale, GA	3.0	2.5	1530	$1,500	$0.98	25d	1	0.57mi
8612 Thomas Rd Riverdale, GA	3.0	2.5	1532	$1,623	$1.06	44d	1	0.57mi
100 Chase Ridge Dr Riverdale, GA	2.0	2.0	1175	$1,545	$1.31	44d	1	0.58mi
100 Chase Ridge Dr Riverdale, GA	1.0–2.0	1.0–2.0	1002	$1,545	$1.54	6d	6	0.58mi
8443 Cedar Creek Rdg Riverdale, GA	3.0	2.0	1476	$1,735	$1.18	20d	1	0.64mi
100 Chase Ridge Dr Unit 1005 Riverdale, GA	2.0	2.0	1175	$1,395	$1.19	44d	1	0.64mi
8584 Guthrie Dr Riverdale, GA	3.0	2.0	1445	$1,650	$1.14	16d	1	0.71mi
8983 Habersham Dr Jonesboro, GA	4.0	2.0	1770	$1,910	$1.08	45d	1	0.72mi
575 Oak Trace Ct Jonesboro, GA	3.0	2.0	1302	$1,761	$1.35	44d	1	0.74mi
8600 Cedar Creek Rdg Riverdale, GA	3.0	2.0	1555	$1,745	$1.12	6d	1	0.77mi
8614 Cedar Creek Rdg Riverdale, GA	3.0	2.5	1728	$1,500	$0.87	44d	1	0.78mi
8200 Webb Rd Riverdale, GA	3.0	2.0	1222	$1,741	$1.42	0d	1	0.78mi
9039 Raven Dr Jonesboro, GA	4.0	2.0	1560	$1,795	$1.15	44d	1	0.83mi
372 Cheri Pl Jonesboro, GA	3.0	2.0	1468	$1,749	$1.19	25d	1	0.84mi
1124 Cliftwood Dr Riverdale, GA	4.0	3.0	1845	$2,165	$1.17	23d	1	0.85mi
407 Churchill Ct Jonesboro, GA	3.0	2.5	1662	$1,800	$1.08	0d	1	0.85mi
1132 Cliftwood Dr Riverdale, GA	3.0	2.5	1616	$2,200	$1.36	44d	1	0.86mi
432 Wesley Park Dr Jonesboro, GA	3.0	2.0	1350	$1,685	$1.25	25d	1	0.86mi
655 Post Oak Rd Jonesboro, GA	3.0	1.0	1302	$1,400	$1.08	0d	1	0.89mi
640 Post Oak Rd Jonesboro, GA	3.0	2.0	1508	$1,780	$1.18	6d	1	0.95mi
672 Raven Ct Jonesboro, GA	3.0	2.0	1362	$1,645	$1.21	44d	1	0.97mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 45 events

1. 2026-06-21
   days on market $120,998 Active 163 DOM
2. 2026-06-18
   days on market $120,998 Active 160 DOM
3. 2026-06-17
   days on market $120,998 Active 159 DOM
4. 2026-06-16
   days on market $120,998 Active 158 DOM
5. 2026-06-15
   days on market $120,998 Active 157 DOM
6. 2026-06-13
   days on market $120,998 Active 155 DOM
7. 2026-06-09
   days on market $120,998 Active 151 DOM
8. 2026-06-08
   days on market $120,998 Active 150 DOM
9. 2026-06-07
   pricedays on market $120,998 Active 149 DOM
10. 2026-06-04
    days on market $120,999 Active 146 DOM
11. 2026-06-03
    days on market $120,999 Active 145 DOM
12. 2026-06-02
    days on market $120,999 Active 144 DOM
13. 2026-06-01
    days on market $120,999 Active 143 DOM
14. 2026-05-31
    days on market $120,999 Active 142 DOM
15. 2026-05-20
    price $120,999 377-char remark

    Show marketing remark (377 chars)

    Welcome to a rare find that combines generous space, everyday convenience, and peaceful surroundings-a beautiful property set in a quiet neighborhood just minutes from major highways and a variety of shopping and dining options. This home offers the perfect balance of privacy and accessibility, giving you room to relax, entertain, and enjoy a lifestyle that truly has it all.

16. 2026-05-20
    price $120,999 377-char remark

    Show marketing remark (377 chars)

    Welcome to a rare find that combines generous space, everyday convenience, and peaceful surroundings-a beautiful property set in a quiet neighborhood just minutes from major highways and a variety of shopping and dining options. This home offers the perfect balance of privacy and accessibility, giving you room to relax, entertain, and enjoy a lifestyle that truly has it all.

17. 2026-03-27
    status Back On Market 377-char remark

    Show marketing remark (377 chars)

    Welcome to a rare find that combines generous space, everyday convenience, and peaceful surroundings-a beautiful property set in a quiet neighborhood just minutes from major highways and a variety of shopping and dining options. This home offers the perfect balance of privacy and accessibility, giving you room to relax, entertain, and enjoy a lifestyle that truly has it all.

18. 2026-03-27
    status Active 377-char remark

    Show marketing remark (377 chars)

    Welcome to a rare find that combines generous space, everyday convenience, and peaceful surroundings-a beautiful property set in a quiet neighborhood just minutes from major highways and a variety of shopping and dining options. This home offers the perfect balance of privacy and accessibility, giving you room to relax, entertain, and enjoy a lifestyle that truly has it all.

19. 2026-02-24
    status Pending 377-char remark

    Show marketing remark (377 chars)

    Welcome to a rare find that combines generous space, everyday convenience, and peaceful surroundings-a beautiful property set in a quiet neighborhood just minutes from major highways and a variety of shopping and dining options. This home offers the perfect balance of privacy and accessibility, giving you room to relax, entertain, and enjoy a lifestyle that truly has it all.

20. 2026-01-26
    status Under Contract 377-char remark

    Show marketing remark (377 chars)

    Welcome to a rare find that combines generous space, everyday convenience, and peaceful surroundings-a beautiful property set in a quiet neighborhood just minutes from major highways and a variety of shopping and dining options. This home offers the perfect balance of privacy and accessibility, giving you room to relax, entertain, and enjoy a lifestyle that truly has it all.

21. 2026-01-22
    historical Active Under Contract 377-char remark

    Show marketing remark (377 chars)

    Welcome to a rare find that combines generous space, everyday convenience, and peaceful surroundings-a beautiful property set in a quiet neighborhood just minutes from major highways and a variety of shopping and dining options. This home offers the perfect balance of privacy and accessibility, giving you room to relax, entertain, and enjoy a lifestyle that truly has it all.

22. 2026-01-22
    historical Active Under Contract 377-char remark

    Show marketing remark (377 chars)

    Welcome to a rare find that combines generous space, everyday convenience, and peaceful surroundings-a beautiful property set in a quiet neighborhood just minutes from major highways and a variety of shopping and dining options. This home offers the perfect balance of privacy and accessibility, giving you room to relax, entertain, and enjoy a lifestyle that truly has it all.

23. 2025-12-08
    listed $121,000 Active 377-char remark

    Show marketing remark (377 chars)

    Welcome to a rare find that combines generous space, everyday convenience, and peaceful surroundings-a beautiful property set in a quiet neighborhood just minutes from major highways and a variety of shopping and dining options. This home offers the perfect balance of privacy and accessibility, giving you room to relax, entertain, and enjoy a lifestyle that truly has it all.

24. 2025-12-08
    listed $121,000 New 377-char remark

    Show marketing remark (377 chars)

    Welcome to a rare find that combines generous space, everyday convenience, and peaceful surroundings-a beautiful property set in a quiet neighborhood just minutes from major highways and a variety of shopping and dining options. This home offers the perfect balance of privacy and accessibility, giving you room to relax, entertain, and enjoy a lifestyle that truly has it all.

25. 2022-01-20
    historical
26. 2022-01-20
    soldstatus $145,000
27. 2022-01-11
    soldstatus $145,000 Closed
28. 2022-01-11
    soldstatus $145,000 Sold
29. 2021-12-30
    status Under Contract
30. 2021-12-16
    status Pending
31. 2021-12-15
    historical Active Under Contract
32. 2021-12-01
    listed $145,000 Active
33. 2021-12-01
    listed $145,000 New
34. 2017-12-14
    soldstatus $44,000
35. 2017-12-01
    soldstatus $44,000 Sold
36. 2017-11-18
    status Under Contract
37. 2017-08-17
    listed $49,900 New
38. 2015-01-05
    historical
39. 2014-11-08
    price $46,500
40. 2014-10-09
    listed $50,000 New
41. 2005-09-20
    soldstatus $70,500
42. 2004-07-30
    soldstatus $46,600
43. 1994-02-15
    soldstatus $42,000
44. 1992-08-20
    soldstatus $42,000
45. 1981-07-27
    soldstatus $45,700

ⓘ 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: $1,792 · $149/mo
• Projected year-2 tax: $1,792 · $149/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 · 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: $20,800
• − Mortgage interest: −$6,778
• − Property taxes: −$1,792
• − Insurance: −$605
• − Repairs & maintenance: −$1,664
• − Management: −$1,664
• − Depreciation: −$3,520
• Taxable income: $4,777
• Est. tax owed @ 24.0%: −$1,146
• After-tax cash flow: $5,274/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: Clayton County
• NCES district ID: 1301230
• Math proficiency: 11% ▼ -13.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $42,266
• Composite: 13.41/100
• National rank: #9527
• State rank: #155 of 174 in GA

Livability — Riverdale

• Score: 70/100
• State rank: #100
• US rank: #7907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clayton County · 230,153 people
• City population: 61,126
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 43,191
• Household income: $62,185
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1992.0

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 310,777 people
• By 2030: 329,762 · +6.1%
• By 2040: 368,052 · +18.4%
• By 2050: 401,196 · +29.1%
• By 2075: 472,488 · +52.0%
• By 2100: 500,446 · +61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (71%)
• Race & ethnicity: Black 71% Hispanic / Latino 17% White 7% Two or more races 7%
• Hispanic origin (detail): Mexican 13% Puerto Rican 2%
• Foreign-born: 11% · Canada, United Kingdom
• Languages at home: 83% English-only · Spanish 14% French/Haitian/Cajun 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid D (+69.2) · D 84.3% · R 15.1%
• 2008→2024 swing: +2.8pp toward D · 2008: 66.4pp · 2024: 69.2pp
• All cycles: 2024: D+69.2 2020: D+70.9 2016: D+71.9 2012: D+70.1 2008: D+66.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.48%
• Current HPI: 211.6309
• Rent YoY: ▲ 2.06%
• 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

+164.8% since first listed

31 events — show timeline

• 2026-05-20 Price Changed $120,999 FMLS
• 2026-05-20 Price Changed $120,999 GAMLS
• 2026-03-27 Relisted — GAMLS
• 2026-03-27 Relisted — FMLS
• 2026-02-24 Pending — FMLS
• 2026-01-26 Pending — GAMLS
• 2026-01-22 Contingent — GAMLS
• 2026-01-22 Contingent — FMLS
• 2025-12-08 Listed $121,000 GAMLS
• 2025-12-08 Listed $121,000 FMLS
• 2022-01-20 Listing Removed — FMLS
• 2022-01-20 Sold (Public Records) $145,000 Public Records
• 2022-01-11 Sold (MLS) $145,000 GAMLS
• 2022-01-11 Sold (MLS) $145,000 FMLS
• 2021-12-30 Pending — GAMLS
• 2021-12-16 Pending — FMLS
• 2021-12-15 Contingent — FMLS
• 2021-12-01 Listed $145,000 GAMLS
• 2021-12-01 Listed $145,000 FMLS
• 2017-12-14 Sold (Public Records) $44,000 Public Records
• 2017-12-01 Sold (MLS) $44,000 GAMLS
• 2017-11-18 Pending — GAMLS
• 2017-08-17 Listed $49,900 GAMLS
• 2015-01-05 Listing Removed — GAMLS
• 2014-11-08 Price Changed $46,500 GAMLS
• 2014-10-09 Listed $50,000 GAMLS
• 2005-09-20 Sold (Public Records) $70,500 Public Records
• 2004-07-30 Sold (Public Records) $46,600 Public Records
• 1994-02-15 Sold (Public Records) $42,000 Public Records
• 1992-08-20 Sold (Public Records) $42,000 Public Records
• 1981-07-27 Sold (Public Records) $45,700 Public Records

Property tax history

+11.2%/yr

Latest (2025): $1,792 · -1.8% YoY. Source: county tax records.