3874 Rex Cir · Stockbridge, GA 30273

$139,900

3 bd · 1.0 ba · 1,252 sqft · SingleFamily public records · 75 Days on market

Built 1953 1.00 ac lot $112/sqft · 42% below area Est $242k · 42% 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 +9.6/10.0
• Livability +3.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Restore to glory this charming 3 bedroom bungalow! Living room, separate dining room. Located on a flat 1 acre lot in historic Rex community. Great fixer upper with endless potential. Ready for investor offer. Cash only. Sold as-is.

Key facts

• 1 acre lot
• Built 1953
• Listed 75 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $742 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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.
• 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: East Clayton Elementary School (math 8% / reading 17%, grade F, #1,032 of 1,228 statewide, top 85%, 632 students, 90% FRL); Adamson Middle School (math 15% / reading 32%, grade F, #319 of 470 statewide, top 68%, 557 students, 90% FRL); Morrow High School (math 12% / reading 22%, grade F, #277 of 424 statewide, top 67%, 1,980 students, 91% FRL).
• Market conditions: Rents rising (+1.2%/yr); 84 active listings in the ZIP; 16 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 ($74k/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 $967 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 + 1.2% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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 $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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. 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.
8. 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.
9. 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: 1.46% ✓
• Cap rate: 12.66%
• Cash-on-cash: 22.73%
• DSCR: 2.01
• GRM: 5.7

CMA / ARV

• ARV (median comp): $242,376
• List price: $139,900
• Delta: -42.28%
• 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
5862 Homestead Cir	0.11mi	3/2.0	1,302 (+4%)	10mo	$210,000	$161	76
3903 Rex Rd	0.05mi	3/1.0	1,365 (+9%)	12mo	$178,000	$130	72
5810 Mistyview Dr	0.43mi	3/2.0	1,248 (-0%)	6mo	$270,000	$216	70
5798 Creekside Dr	0.69mi	3/2.0	1,336 (+7%)	2mo	$258,000	$193	51
6138 Lauren Ln	0.62mi	3/2.0	1,184 (-5%)	10mo	$240,000	$203	50
3548 Meadowview Ct	0.61mi	3/1.5	1,086 (-13%)	1mo	$204,500	$188	46
6154 Lauren Ln	0.65mi	3/2.0	1,143 (-9%)	7mo	$235,000	$206	46
6149 Pembroke Dr	0.63mi	3/2.0	1,119 (-11%)	4mo	$250,000	$223	45
6057 Dorchester Dr	0.61mi	4/2.0 (+1)	1,365 (+9%)	6mo	$215,000	$158	42
5748 Meadow Ln	0.53mi	3/2.0	1,416 (+13%)	10mo	$270,000	$191	41
5899 Meadow Ln	0.56mi	3/2.0	1,393 (+11%)	13mo	$200,000	$144	41
6282 Amberly Rd	0.73mi	3/2.0	1,143 (-9%)	8mo	$250,000	$219	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 · 1.19% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 1.53×
• Total profit: $20,910
• Equity at exit: $20,860

10-year hold

• IRR: 21.1%
• Equity multiple: 2.65×
• Total profit: $64,512
• Equity at exit: $12,096

Cash invested: $39,172 (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 30273

• Home prices YoY: -28.4%
• Rents YoY: 1.2%
• Active inventory: 84
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,037 high
• Mortgage (P&I): −$734
• Tax from tax record: −$75 /mo · $906/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $742

Break-even live

Break-even rent $1,098

Max offer price $139,900

Occupancy floor 59%

Sensitivity live

Price	-10% $821	-5% $782	+0% $742	+5% $702	+10% $663
Rent	-10% $581	-5% $661	+0% $742	+5% $822	+10% $903
Rate	-1.0pp $812	-0.5pp $778	base $742	+0.5pp $706	+1.0pp $669

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5894 Homestead Cir Rex, GA	3.0	2.0	1462	$1,890	$1.29	7d	1	0.16mi
5900 Homestead Cir Rex, GA	3.0	2.0	1544	$1,937	$1.25	46d	1	0.17mi
5832 Mays Ridge Ct Rex, GA	4.0	3.0	1408	$2,020	$1.43	46d	1	0.23mi
3543 Meadowview Ct Rex, GA	3.0	1.5	1582	$1,995	$1.26	1d	1	0.64mi
6169 Fay Ct Rex, GA	3.0	2.0	1416	$2,100	$1.48	46d	1	0.73mi
5544 Frontier Ct Ellenwood, GA	4.0	2.5	1800	$2,109	$1.17	26d	1	0.75mi
3769 Stagecoach Pass Ellenwood, GA	3.0	2.0	1800	$2,200	$1.22	46d	1	0.79mi
5862 Waggoner Ct Rex, GA	4.0	2.0	1558	$2,226	$1.43	24d	1	0.91mi
70 Homestead Pl Rex, GA	4.0	2.0	1650	$2,011	$1.22	0d	1	0.95mi
6379 Skyline Dr Rex, GA	3.0	2.0	1722	$2,000	$1.16	7d	1	1.04mi
6300 Ellenwood Dr Rex, GA	3.0	2.5	1388	$1,699	$1.22	12d	1	1.13mi
6683 Homestead Rd Rex, GA	3.0	2.0	1536	$2,000	$1.30	7d	1	1.14mi
40 Wagon Wheel Dr Rex, GA	3.0	2.0	1404	$1,350	$0.96	7d	1	1.23mi
5248 Katherine Village Dr Ellenwood, GA	3.0	2.5	1364	$1,995	$1.46	23d	1	1.27mi
130 Derby Country Dr Ellenwood, GA	3.0	2.0	1273	$1,870	$1.47	1d	1	1.27mi
85 Derby Country Dr Ellenwood, GA	3.0	2.0	1273	$1,895	$1.49	26d	1	1.30mi

Listing history 23 events

1. 2026-06-21
   days on market $139,900 Active 75 DOM
2. 2026-06-18
   days on market $139,900 Active 72 DOM
3. 2026-06-17
   days on market $139,900 Active 71 DOM
4. 2026-06-16
   days on market $139,900 Active 70 DOM
5. 2026-06-15
   days on market $139,900 Active 69 DOM
6. 2026-06-13
   days on market $139,900 Active 67 DOM
7. 2026-06-09
   days on market $139,900 Active 63 DOM
8. 2026-06-08
   days on market $139,900 Active 62 DOM
9. 2026-06-07
   days on market $139,900 Active 61 DOM
10. 2026-06-04
    days on market $139,900 Active 58 DOM
11. 2026-06-03
    days on market $139,900 Active 57 DOM
12. 2026-06-02
    days on market $139,900 Active 56 DOM
13. 2026-06-01
    days on market $139,900 Active 55 DOM
14. 2026-05-31
    days on market $139,900 Active 54 DOM
15. 2026-04-26
    price $139,900 232-char remark

    Show marketing remark (232 chars)

    Restore to glory this charming 3 bedroom bungalow! Living room, separate dining room. Located on a flat 1 acre lot in historic Rex community. Great fixer upper with endless potential. Ready for investor offer. Cash only. Sold as-is.

16. 2026-04-02
    listed $144,900 New 232-char remark

    Show marketing remark (232 chars)

    Restore to glory this charming 3 bedroom bungalow! Living room, separate dining room. Located on a flat 1 acre lot in historic Rex community. Great fixer upper with endless potential. Ready for investor offer. Cash only. Sold as-is.

17. 2025-12-17
    historical
18. 2025-10-23
    price $175,000
19. 2025-08-27
    price $185,000
20. 2025-08-02
    price $185,900
21. 2025-06-17
    listed $198,500 New
22. 2017-04-04
    historical
23. 2017-03-27
    listed $69,900 New

ⓘ 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: $906 · $75/mo
• Projected year-2 tax: $1,287 · $107/mo
• Expected delta: +$381/yr (+$32/mo · 42.1%)

ⓘ 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 5/10 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: $24,446
• − Mortgage interest: −$7,837
• − Property taxes: −$906
• − Insurance: −$700
• − Repairs & maintenance: −$1,956
• − Management: −$1,956
• − Depreciation: −$4,070
• Taxable income: $7,023
• Est. tax owed @ 24.0%: −$1,686
• After-tax cash flow: $7,218/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 — 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: Clayton County · 230,153 people
• City population: 71,603
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 17,844
• Household income: $73,502
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 270.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 63% White 16% Hispanic / Latino 10% Asian 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 1% Serbian 1% Ukrainian 1%
• Foreign-born: 11% · Vietnam, Canada
• Languages at home: 82% English-only · Spanish 7% Vietnamese 6% French/Haitian/Cajun 3%

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: ▼ -74.65%
• Current HPI: 188.3712
• Rent YoY: ▲ 1.19%
• 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

+100.1% since first listed

9 events — show timeline

• 2026-04-26 Price Changed $139,900 GAMLS
• 2026-04-02 Listed $144,900 GAMLS
• 2025-12-17 Listing Removed — GAMLS
• 2025-10-23 Price Changed $175,000 GAMLS
• 2025-08-27 Price Changed $185,000 GAMLS
• 2025-08-02 Price Changed $185,900 GAMLS
• 2025-06-17 Listed $198,500 GAMLS
• 2017-04-04 Listing Removed — GAMLS
• 2017-03-27 Listed $69,900 GAMLS

Property tax history

-1.4%/yr

Latest (2025): $906 · +0.5% YoY. Source: county tax records.