1937 Old Dogwood · Irondale, GA 30238

$205,000

3 bd · 3.0 ba · 1,634 sqft · Townhouse public records · 41 Days on market

Built 2018 2,099 sqft lot $125/sqft · 13% below area Est $235k · 13% under $50/mo HOA · 3% 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).

• ARV discount +13.2/15.0
• Cash flow +11.0/30.0
• 1% rule +4.0/10.0
• DSCR +3.2/10.0
• Rent growth +3.0/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This stunning townhome offers the community's largest floor plan and fresh paint, new carpet, and new LVP flooring for a modern touch. Open-concept design on the main level. The bright, modern kitchen boasts granite countertops and overlooks a cozy family room with an adjoining dining area. The upper level includes a spacious primary suite complete with a walk-in closet and a tub/shower combination, along with two generously sized secondary bedrooms and a conveniently located laundry room. Ideally situated with easy access to the Atlanta airport, restaurants, nightlife, and shopping, this home is an excellent opportunity for both first-time homebuyers and investors. No rental restrictions in this community.

Key facts

• $50 HOA
• Built 2018
• Listed 41 days

Property features AI

Finance

• Other: Single-unit community
• HOA & community: Homeowners association; Annual association fee of $600; Community near schools, shopping, trails/greenway and playground

Exterior

• Parking: Driveway; Open parking available
• Utilities: Public water; Public sewer; 110 volt electrical service; Cable available; Electricity available; Phone available; Underground utilities; Water available; Sewer available
• Home design: Two levels; Brick front; Resale property; Slab foundation; Fee simple ownership; Composition roof
• Construction: Brick front construction; Composition roof; Slab foundation
• Exterior features: Front porch; Patio; Other exterior features

Interior

• Kitchen: Stain-finish cabinets; Kitchen island; Pantry; Stone countertops; Open view to family room; Dishwasher; Electric range; Refrigerator
• Bedrooms: 3 upstairs bedrooms; Bedroom features: Other
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom; Master bathroom with tub/shower combo and other features
• Heating & cooling: Central air; Zoned heating; Zoned cooling; Ceiling fans
• Interior features: Entrance foyer; Vaulted ceilings; Walk-in closets; Double pane windows; 2+ common walls
• Laundry & utility: Upper-level laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $205k.

Deal economics

• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (10.3% below list).
• Recommended offer: $184k (10.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#466 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute 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.
• Zoned schools: Hawthorne Elementary School (math 5% / reading 17%, grade F, #1,071 of 1,228 statewide, top 88%, 821 students, 90% FRL); Mundys Mill Middle School (math 10% / reading 24%, grade F, #381 of 470 statewide, top 82%, 768 students, 90% FRL); Lovejoy High School (math 7% / reading 8%, grade F, #378 of 424 statewide, top 91%, 2,136 students, 90% FRL).
• 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 26d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• This rent runs 36% 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 2 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 $148k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,971 (10.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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 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: 0.90% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.82%
• DSCR: 0.92
• GRM: 9.3

CMA / ARV

• ARV (median comp): $235,027
• List price: $205,000
• Delta: -12.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1565 Iris Walk	0.06mi	3/3.5	1,634 (0%)	1mo	$190,000	$116	94
1970 Old Dogwood	0.07mi	3/2.5	1,634 (0%)	4mo	$189,000	$116	91
1544 Iris Walk	0.03mi	3/2.5	1,684 (+3%)	3mo	$208,000	$124	90
1560 Iris Walk	0.04mi	3/2.5	1,684 (+3%)	4mo	$210,400	$125	88
1900 Old Dogwood	0.07mi	3/2.5	1,684 (+3%)	8mo	$154,582	$92	83
1531 Iris Walk	0.06mi	3/2.5	1,684 (+3%)	9mo	$214,900	$128	83
1535 Iris Walk	0.06mi	3/2.5	1,684 (+3%)	12mo	$215,000	$128	80
1861 Old Dogwood	0.12mi	3/2.5	1,683 (+3%)	12mo	$224,000	$133	77
1946 Old Dogwood #31	0.03mi	3/2.5	1,507 (-8%)	14mo	$200,000	$133	72
1597 Iris Walk	0.11mi	3/2.5	1,454 (-11%)	6mo	$190,000	$131	69
1529 Iris Walk	0.06mi	3/2.5	1,454 (-11%)	11mo	$215,000	$148	67
1827 Old Dogwood	0.13mi	3/2.5	1,454 (-11%)	14mo	$207,000	$142	62

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 · 2.06% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.30×
• Total profit: $-40,383
• Equity at exit: $30,566

10-year hold

• IRR: -15.8%
• Equity multiple: 0.15×
• Total profit: $-48,823
• Equity at exit: $17,725

Cash invested: $57,400 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,840 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$330 /mo · $3,959/yr
• Insurance: −$85
• HOA: −$50
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $-87

Break-even live

Break-even rent $1,950

Max offer price $189,623

Occupancy floor 100%

Sensitivity live

Price	-10% $29	-5% $-29	+0% $-87	+5% $-145	+10% $-203
Rent	-10% $-232	-5% $-160	+0% $-87	+5% $-14	+10% $58
Rate	-1.0pp $16	-0.5pp $-35	base $-87	+0.5pp $-140	+1.0pp $-194

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1545 Iris Walk Jonesboro, GA	3.0	3.0	1453	$1,800	$1.24	26d	1	0.04mi
1576 Iris Walk Jonesboro, GA	3.0	2.5	1683	$1,695	$1.01	45d	1	0.05mi
1585 Iris Walk Jonesboro, GA	3.0	2.5	1497	$1,869	$1.25	1d	1	0.08mi
1795 Old Dogwood Jonesboro, GA	3.0	3.0	1454	$1,730	$1.19	45d	1	0.11mi
1779 Old Dogwood Jonesboro, GA	3.0	2.5	1454	$1,730	$1.19	45d	1	0.11mi
1798 Old Dogwood Jonesboro, GA	3.0	3.0	1454	$1,730	$1.19	26d	1	0.13mi
1814 Old Dogwood Jonesboro, GA	3.0	2.5	1454	$1,730	$1.19	45d	1	0.13mi
1786 Old Dogwood Jonesboro, GA	3.0	2.5	1454	$1,730	$1.19	45d	1	0.14mi
1830 Old Dogwood Jonesboro, GA	3.0	2.5	1454	$1,730	$1.19	45d	1	0.14mi
1834 Old Dogwood Jonesboro, GA	3.0	2.5	1454	$1,730	$1.19	45d	1	0.15mi
1485 Bola Ct Jonesboro, GA	4.0	2.0	1300	$1,755	$1.35	1d	1	0.18mi
1433 Iron Gate Blvd Jonesboro, GA	3.0	1.5	1075	$1,475	$1.37	14d	1	0.27mi
10299 Wisteria Ln Jonesboro, GA	3.0	2.0	1257	$1,770	$1.41	45d	1	0.27mi
1478 Carriage Ln Jonesboro, GA	3.0	2.0	1436	$1,675	$1.17	24d	1	0.29mi
10091 Silent Trl Jonesboro, GA	3.0	1.5	1456	$1,395	$0.96	26d	1	0.33mi
10357 Briarbay Dr Jonesboro, GA	3.0	2.0	1180	$1,610	$1.36	4d	1	0.35mi
1334 Labelle St Jonesboro, GA	4.0	2.0	1352	$1,521	$1.12	7d	1	0.41mi
1276 Avery Dr Jonesboro, GA	3.0	2.0	1811	$1,755	$0.97	7d	1	0.52mi
10375 Larrack Trce Jonesboro, GA	3.0	2.0	1340	$1,800	$1.34	19d	1	0.53mi
10527 Thrasher Rd Jonesboro, GA	4.0	2.5	2028	$1,850	$0.91	7d	1	0.55mi
10473 Starling Trl Hampton, GA	4.0	3.0	1835	$2,367	$1.29	26d	1	0.56mi
1277 Iron Gate Blvd Jonesboro, GA	3.0	2.0	1120	$1,499	$1.34	4d	1	0.56mi
1277 Iron Gate Blvd Jonesboro, GA	3.0	2.0	1120	$1,499	$1.34	1d	1	0.56mi
1556 Wren Rd Jonesboro, GA	3.0	2.0	1388	$1,715	$1.24	45d	1	0.56mi
1442 Starling Ct Hampton, GA	3.0	2.0	1668	$1,885	$1.13	45d	1	0.58mi
1260 Iron Gate Blvd Jonesboro, GA	3.0	2.0	1460	$1,740	$1.19	1d	1	0.59mi
10507 Starling Trl Hampton, GA	4.0	2.5	1800	$2,131	$1.18	45d	1	0.63mi
1496 Paladin Ct Hampton, GA	4.0	2.5	1116	$2,045	$1.83	21d	1	0.76mi
10485 Ace Ct Jonesboro, GA	3.0	2.0	1288	$1,611	$1.25	45d	1	0.76mi
10624 Woodcock St Jonesboro, GA	4.0	2.0	1171	$1,670	$1.43	24d	1	0.76mi
1139 Commons Ct Jonesboro, GA	3.0	2.0	1421	$1,795	$1.26	22d	1	0.82mi
1174 Walnut Creek Ln Jonesboro, GA	3.0	2.0	1218	$1,861	$1.53	45d	1	0.83mi
1118 Walnut Creek Ln Jonesboro, GA	4.0	2.0	2024	$1,895	$0.94	45d	1	0.85mi
10564 Village Lndg Jonesboro, GA	3.0	2.5	1617	$1,800	$1.11	26d	1	0.92mi
1096 Bonita Cir Jonesboro, GA	3.0	2.0	1442	$1,700	$1.18	26d	1	0.92mi
1108 Sunday Ln Jonesboro, GA	3.0	2.0	1137	$1,625	$1.43	45d	1	0.92mi
10311 Commons Xing Jonesboro, GA	3.0	2.0	2051	$2,020	$0.98	45d	1	0.99mi
10348 Commons Xing Jonesboro, GA	3.0	2.0	1372	$2,500	$1.82	19d	1	1.02mi
10778 Thrasher Rd Jonesboro, GA	3.0	2.0	1392	$1,605	$1.15	1d	1	1.06mi
1117 Village Crk Jonesboro, GA	3.0	2.5	1330	$1,815	$1.36	45d	1	1.07mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 14 events

1. 2026-06-10
   status $205,000 Pending 41 DOM
2. 2026-06-09
   days on market $205,000 Active 41 DOM

   Show marketing remark (716 chars)

   This stunning townhome offers the community's largest floor plan and fresh paint, new carpet, and new LVP flooring for a modern touch. Open-concept design on the main level. The bright, modern kitchen boasts granite countertops and overlooks a cozy family room with an adjoining dining area. The upper level includes a spacious primary suite complete with a walk-in closet and a tub/shower combination, along with two generously sized secondary bedrooms and a conveniently located laundry room. Ideally situated with easy access to the Atlanta airport, restaurants, nightlife, and shopping, this home is an excellent opportunity for both first-time homebuyers and investors. No rental restrictions in this community.

3. 2026-06-08
   days on market $205,000 Active 40 DOM
4. 2026-06-07
   days on market $205,000 Active 39 DOM
5. 2026-06-04
   days on market $205,000 Active 36 DOM
6. 2026-06-03
   days on market $205,000 Active 35 DOM
7. 2026-06-02
   days on market $205,000 Active 34 DOM
8. 2026-06-01
   days on market $205,000 Active 33 DOM
9. 2026-05-31
   days on market $205,000 Active 32 DOM
10. 2026-04-29
    listed $205,000 New 716-char remark

    Show marketing remark (716 chars)

    This stunning townhome offers the community's largest floor plan and fresh paint, new carpet, and new LVP flooring for a modern touch. Open-concept design on the main level. The bright, modern kitchen boasts granite countertops and overlooks a cozy family room with an adjoining dining area. The upper level includes a spacious primary suite complete with a walk-in closet and a tub/shower combination, along with two generously sized secondary bedrooms and a conveniently located laundry room. Ideally situated with easy access to the Atlanta airport, restaurants, nightlife, and shopping, this home is an excellent opportunity for both first-time homebuyers and investors. No rental restrictions in this community.

11. 2026-04-29
    listed $205,000 Active 722-char remark

    Show marketing remark (716 chars)

    This stunning townhome offers the community's largest floor plan and fresh paint, new carpet, and new LVP flooring for a modern touch. Open-concept design on the main level. The bright, modern kitchen boasts granite countertops and overlooks a cozy family room with an adjoining dining area. The upper level includes a spacious primary suite complete with a walk-in closet and a tub/shower combination, along with two generously sized secondary bedrooms and a conveniently located laundry room. Ideally situated with easy access to the Atlanta airport, restaurants, nightlife, and shopping, this home is an excellent opportunity for both first-time homebuyers and investors. No rental restrictions in this community.

12. 2019-09-16
    soldstatus $148,000
13. 2013-09-16
    soldstatus $230,000
14. 2013-04-18
    soldstatus $150,000

ⓘ 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: $3,959 · $330/mo
• Projected year-2 tax: $3,959 · $330/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 7/10 Severe 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,077
• − Mortgage interest: −$11,483
• − Property taxes: −$3,959
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,766
• − Management: −$1,766
• − HOA: −$600
• − Depreciation: −$5,964
• Taxable loss: −$4,487
• Est. tax savings @ 24.0%: +$1,077
• After-tax cash flow: $32/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 — Irondale

• Score: 57/100
• State rank: #466
• US rank: #22025

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Irondale, GA
• County: Clayton County · 230,153 people
• 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

+36.7% since first listed

7 events — show timeline

• 2026-06-09 Pending — GAMLS
• 2026-06-09 Pending — FMLS
• 2026-04-29 Listed $205,000 FMLS
• 2026-04-29 Listed $205,000 GAMLS
• 2019-09-16 Sold (Public Records) $148,000 Public Records
• 2013-09-16 Sold (Public Records) $230,000 Public Records
• 2013-04-18 Sold (Public Records) $150,000 Public Records

Property tax history

+19.3%/yr

Latest (2024): $3,959 · +14.1% YoY. Source: county tax records.