5312 Tracey Dr · Redan, GA 30088

$199,900

3 bd · 2.0 ba · 1,610 sqft · SingleFamily public records · 163 Days on market

Built 1980 6,969 sqft lot $124/sqft · 20% below area Est $250k · 20% under

---

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 +18.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +4.7/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property needs complete updating, including all finishes (floor, wall, and light fixtures.)

Key facts

• 6,969 sq ft lot
• Garage
• Built 1980

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (2.6% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 5.3% in Redan — 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 64/100 on livability (#274 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute 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.
• Zoned schools: Oakcliff Elementary School (math 15% / reading 21%, grade F, #926 of 1,228 statewide, top 76%, 660 students, 94% FRL); The Champion Middle Theme School (math 21% / reading 52%, grade F, #167 of 470 statewide, top 38%, 751 students, 100% FRL); Redan High School (math 8% / reading 17%, grade F, #336 of 424 statewide, top 80%, 951 students, 100% FRL) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 220 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 33% of the median local income ($70k/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.
• 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 163 days — a 12% lower offer ($176k) 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 $75k; list at $200k implies a 167% gain — meaningful room to come down on a strong offer.

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 $175,912 (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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.97% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.70%
• DSCR: 1.16
• GRM: 8.6

CMA / ARV

• ARV (median comp): $249,861
• List price: $199,900
• Delta: -20.00%
• 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
884 Forest Path	0.60mi	3/2.0	1,632 (+1%)	1mo	$225,000	$138	69
1183 Muirfield Dr	0.16mi	3/2.5	1,815 (+13%)	1mo	$175,000	$96	68
1144 Redan Trce	0.07mi	4/2.5 (+1)	1,795 (+12%)	3mo	$205,000	$114	68
870 Chapman Cir	0.32mi	3/2.0	1,432 (-11%)	2mo	$185,000	$129	65
5233 Mccarter Sta	0.56mi	3/2.0	1,528 (-5%)	2mo	$220,000	$144	63
5486 Fox Valley Ln	0.54mi	3/3.0	1,536 (-5%)	3mo	$140,000	$91	60
5242 Mccarter Sta	0.58mi	4/3.0 (+1)	1,640 (+2%)	3mo	$277,000	$169	59
922 Fox Valley Ct	0.62mi	4/2.5 (+1)	1,678 (+4%)	2mo	$290,000	$173	55
5208 Mainstreet Park Dr	0.70mi	3/2.0	1,482 (-8%)	2mo	$200,000	$135	52
1402 Bridgewater Br	0.55mi	4/2.0 (+1)	1,808 (+12%)	1mo	$259,000	$143	48
5175 Walker Rd	0.69mi	3/2.0	1,844 (+14%)	1mo	$215,000	$117	43
960 Stone Mountain Lithonia Rd	0.75mi	3/1.0	1,795 (+12%)	2mo	$134,000	$75	40

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 · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.64×
• Total profit: $-19,961
• Equity at exit: $29,806

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $2,769
• Equity at exit: $17,284

Cash invested: $55,972 (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 30088

• Rents YoY: 3.7%
• Active inventory: 220
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,948 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$235 /mo · $2,816/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $173

Break-even live

Break-even rent $1,729

Max offer price $199,900

Occupancy floor 86%

Sensitivity live

Price	-10% $286	-5% $229	+0% $173	+5% $116	+10% $59
Rent	-10% $19	-5% $96	+0% $173	+5% $249	+10% $326
Rate	-1.0pp $273	-0.5pp $223	base $173	+0.5pp $121	+1.0pp $68

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1168 Perry Way Stone Mountain, GA	4.0	3.0	2100	$1,200	$0.57	3d	1	0.01mi
5349 Tracey Dr Stone Mountain, GA	3.0	2.0	1188	$1,975	$1.66	18d	1	0.08mi
5349 Tracey Dr Stone Mountain, GA	3.0	2.0	1188	$1,975	$1.66	45d	1	0.08mi
5386 Kristian Ct Stone Mountain, GA	4.0	2.0	1531	$1,901	$1.24	26d	1	0.16mi
1078 Forest Path Stone Mountain, GA	4.0	2.5	1554	$1,845	$1.19	45d	1	0.35mi
1467 Muirfield Dr Stone Mountain, GA	3.0	2.0	1630	$1,870	$1.15	23d	1	0.39mi
1076 Martin Rd Stone Mountain, GA	4.0	2.0	1760	$2,011	$1.14	18d	1	0.47mi
5486 Fox Valley Ln Stone Mountain, GA	3.0	2.5	1536	$1,850	$1.20	21d	1	0.58mi
782 Fox Valley Dr Stone Mountain, GA	4.0	2.0	1964	$2,000	$1.02	26d	1	0.60mi
1401 Panola Rd Stone Mountain, GA	4.0	4.5	2000	$2,975	$1.49	45d	1	0.64mi
5118 Rocky Gln Stone Mountain, GA	4.0	2.0	1932	$2,100	$1.09	45d	1	0.65mi
1338 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1844	$1,900	$1.03	3d	1	0.69mi
1373 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1296	$1,738	$1.34	1d	1	0.72mi
1228 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1344	$1,645	$1.22	45d	1	0.73mi
1401 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1320	$1,675	$1.27	14d	1	0.74mi
4935 Millstone Walk Stone Mountain, GA	3.0	2.5	1248	$1,950	$1.56	7d	1	0.80mi
1183 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1373	$1,751	$1.28	7d	1	0.83mi
5799 Redan Rd Stone Mountain, GA	3.0	2.0	1546	$1,490	$0.96	26d	1	0.88mi
5734 Lanny Ln Lithonia, GA	3.0	2.0	1589	$1,800	$1.13	26d	1	1.01mi
811 King Rd Stone Mountain, GA	3.0	3.0	1840	$3,300	$1.79	45d	1	1.03mi
1652 Downs Xing Stone Mountain, GA	3.0	2.5	1376	$1,595	$1.16	1d	1	1.03mi
1127 Mainstreet Valley Dr Stone Mountain, GA	2.0	2.0	1074	$1,681	$1.57	1d	1	1.11mi
1487 Saint Dunstans Rd Lithonia, GA	3.0	2.5	1650	$1,973	$1.20	0d	1	1.13mi
5482 Martins Crossing Rd Stone Mountain, GA	3.0	2.0	1482	$1,575	$1.06	14d	1	1.17mi
924 Lake Drive Ter Stone Mountain, GA	3.0	2.0	1380	$1,670	$1.21	45d	1	1.19mi
1717 Panola Rd Stone Mountain, GA	3.0–4.0	2.5	2107	$2,369	$1.12	1d	98	1.19mi
5035 Martins Crossing Rd Stone Mountain, GA	3.0	2.0	1288	$1,550	$1.20	1d	1	1.19mi
1610 Burnstone Dr Stone Mountain, GA	3.0	2.0	1370	$1,850	$1.35	45d	1	1.21mi
869 Heritage Oaks Dr Stone Mountain, GA	3.0	2.5	1400	$1,199	$0.86	1d	1	1.24mi
905 Hemingway Rd Stone Mountain, GA	3.0	2.0	1400	$1,625	$1.16	14d	1	1.25mi
1038 S Hairston Rd Stone Mountain, GA	1.0–3.0	1.0–2.0	912	$1,285	$1.41	7d	1	1.29mi
1247 Adcox Rd Stone Mountain, GA	1.0–2.0	1.0–2.0	919	$1,258	$1.37	0d	10	1.31mi
4899 Hairston Pl Stone Mountain, GA	3.0	2.5	1468	$1,981	$1.35	14d	1	1.34mi
4852 Lost Colony Ct Stone Mountain, GA	4.0	3.0	1694	$1,775	$1.05	26d	1	1.35mi
867 Oakhill Ct Stone Mountain, GA	3.0	2.5	1556	$1,850	$1.19	45d	1	1.38mi
1420 S Hairston Rd Stone Mountain, GA	1.0–2.0	1.0–2.5	1011	$1,358	$1.34	21d	31	1.38mi
1724 Laurel Creek Cir Lithonia, GA	3.0	2.5	1558	$1,935	$1.24	14d	1	1.39mi
841 Arbor Ct Stone Mountain, GA	3.0	2.0	1448	$1,845	$1.27	23d	1	1.48mi

Listing history 15 events

1. 2026-06-21
   days on market $199,900 Active 163 DOM
2. 2026-06-16
   days on market $199,900 Active 160 DOM
3. 2026-06-15
   days on market $199,900 Active 159 DOM
4. 2026-06-13
   days on market $199,900 Active 157 DOM
5. 2026-06-09
   days on market $199,900 Active 153 DOM
6. 2026-06-08
   days on market $199,900 Active 152 DOM
7. 2026-06-07
   days on market $199,900 Active 151 DOM
8. 2026-06-04
   days on market $199,900 Active 148 DOM
9. 2026-06-03
   days on market $199,900 Active 147 DOM
10. 2026-06-02
    days on market $199,900 Active 146 DOM
11. 2026-06-01
    days on market $199,900 Active 145 DOM
12. 2026-05-31
    days on market $199,900 Active 144 DOM
13. 2026-01-07
    listed $199,900 New 91-char remark

    Show marketing remark (91 chars)

    Property needs complete updating, including all finishes (floor, wall, and light fixtures.)

14. 2026-01-07
    listed $199,900 Active 91-char remark

    Show marketing remark (91 chars)

    Property needs complete updating, including all finishes (floor, wall, and light fixtures.)

15. 1997-01-14
    soldstatus $74,900

ⓘ 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: $2,816 · $235/mo
• Projected year-2 tax: $2,816 · $235/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $23,375
• − Mortgage interest: −$11,198
• − Property taxes: −$2,816
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − Depreciation: −$5,815
• Taxable loss: −$1,194
• Est. tax savings @ 24.0%: +$287
• After-tax cash flow: $2,357/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 — Redan

• Score: 64/100
• State rank: #274
• US rank: #14766

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

• Census place: Redan, GA
• County: Dekalb County · 782,738 people
• City population: 29,279
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 29,240
• Household income: $70,325
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1106.0

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 (84%)
• Race & ethnicity: Black 84% White 5% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Swedish 1% Russian 1%
• Foreign-born: 11% · Canada
• Languages at home: 90% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -169.92%
• Current HPI: 206.5421
• Rent YoY: ▲ 3.72%
• 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

+166.9% since first listed

3 events — show timeline

• 2026-01-07 Listed $199,900 FMLS
• 2026-01-07 Listed $199,900 GAMLS
• 1997-01-14 Sold (Public Records) $74,900 Public Records

Property tax history

+5.3%/yr

Latest (2025): $2,816 · -4.7% YoY. Source: county tax records.