5824 Par Four Ct · Stonecrest, GA 30038

$109,900

3 bd · 2.0 ba · 1,470 sqft · Condo public records · 14 Days on market

Built 1974 $250/mo HOA · 15% of rent

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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 +23.8/30.0
• 1% rule +9.9/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated and renovated less than 4 years ago (LVP flooring throughout (no carpet), new appliances, renovated bathrooms and paint) Second and top floor 3/2 unit in Fairways Condominiums with lots of natural light. With 1,470 Square Feet, this is the largest floorplan in the complex! COMPLEX IS NOT FHA APPROVED. Cash or conventional loan ONLY! Home is vacant. Inside pictures will be added by 06.12.2026. No showings until 06.12.2026

Key facts

• Renovated bathrooms
• Natural light
• New appliances

Tags

• LVP FLOORING
• NEW APPLIANCES
• RENOVATED BATHROOMS
• NATURAL LIGHT
• LARGEST FLOORPLAN

Property features AI

Finance

• Other: Property in DeKalb County, GA
• HOA & community: Homeowners association with a $250 monthly fee

Exterior

• Parking: Two parking spaces in a parking lot
• Utilities: Public water; Public sewer; Electricity available; Cable available; Phone available; Sewer available
• Home design: One-level condominium; Resale property
• Construction: Wood siding; Other roof material
• Exterior features: Rear porch; Balcony; Asphalt road frontage on a city street

Interior

• Kitchen: Cabinets with view to the family room; Dishwasher; Refrigerator
• Bedrooms: Three main-level bedrooms; Primary suite on the main level
• Flooring: Luxury vinyl flooring
• Bathrooms: Two full bathrooms (both on the main level); Primary bathroom with additional features
• Heating & cooling: Central heating; Central air conditioning
• Interior features: High 9-ft ceilings on the main level; High-speed internet available; Great Room fireplace
• Laundry & utility: Laundry area (details available)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 8.6% vs local median 5.1% in Stonecrest — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: Flat Rock Elementary School (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 996 students, 100% FRL); Lithonia Middle School (math 8% / reading 17%, grade F, #411 of 470 statewide, top 87%, 1,214 students, 100% FRL); Lithonia High School (math 2% / reading 17%, grade F, #365 of 424 statewide, top 88%, 1,483 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 9% at this address vs 24% district-wide (-14 pts) — the specific schools serving this property underperform the Dekalb County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.6%/yr); 320 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 10y 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: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; moderate wind risk, 23% 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 $109,900

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.49% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.25%
• DSCR: 1.37
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.6% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-5,618
• Equity at exit: $16,386

10-year hold

• IRR: 7.5%
• Equity multiple: 1.63×
• Total profit: $19,454
• Equity at exit: $9,502

Cash invested: $30,772 (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 30038

• Home prices YoY: -28.0%
• Rents YoY: 4.6%
• Active inventory: 320
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,639 high
• Mortgage (P&I): −$576
• Tax from tax record: −$211 /mo · $2,537/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$250
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $145

Break-even live

Break-even rent $1,456

Max offer price $109,900

Occupancy floor 86%

Sensitivity live

Price	-10% $207	-5% $176	+0% $145	+5% $114	+10% $83
Rent	-10% $16	-5% $80	+0% $145	+5% $210	+10% $275
Rate	-1.0pp $200	-0.5pp $173	base $145	+0.5pp $117	+1.0pp $88

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2102 Par Three Way Lithonia, GA	3.0	2.0	1202	$1,500	$1.25	5d	1	0.20mi
5812 Trent Walk Dr Unit 1 Stonecrest, GA	3.0	2.0	1350	$1,600	$1.19	44d	1	0.21mi
1202 Par Three Way Lithonia, GA	2.0	2.0	1202	$1,200	$1.00	19d	1	0.22mi
4103 Fairington Club Dr Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	44d	1	0.22mi
5796 Trent Walk Dr Lithonia, GA	3.0	2.0	1350	$1,535	$1.14	0d	1	0.23mi
4101 Fairington Club Dr Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	44d	1	0.23mi
5926 Trent Jones Way Lithonia, GA	2.0	2.5	1122	$1,200	$1.07	18d	1	0.25mi
2437 Piering Dr Lithonia, GA	3.0	2.5	1560	$1,600	$1.03	44d	1	0.31mi
5876 Trent Walk Dr Lithonia, GA	2.0	1.5	1084	$1,550	$1.43	5d	1	0.35mi
2649 Parrish Ct Lithonia, GA	3.0	2.5	1588	$1,800	$1.13	44d	1	0.39mi
13101 Fairington Ridge Cir Unit 101 Stonecrest, GA	3.0	2.0	1292	$1,400	$1.08	25d	1	0.41mi
13202 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,650	$1.28	17d	1	0.42mi
2102 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,545	$1.20	11d	1	0.43mi
3008 Bonnes Dr Lithonia, GA	3.0	2.5	1608	$1,800	$1.12	44d	1	0.44mi
14302 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,650	$1.28	44d	1	0.45mi
3064 Parc Lorraine Unit 1 Stonecrest, GA	2.0	2.0	1280	$1,195	$0.93	4d	1	0.45mi
3021 Fields Dr Lithonia, GA	3.0	2.5	1450	$1,595	$1.10	25d	1	0.45mi
5201 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1226	$1,645	$1.34	44d	1	0.46mi
2204 Fairington Village Dr Lithonia, GA	3.0	2.0	1292	$1,295	$1.00	25d	1	0.46mi
2204 Fairington Village Dr Lithonia, GA	3.0	2.0	1292	$1,295	$1.00	21d	1	0.46mi
14204 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,550	$1.20	44d	1	0.46mi
3024 Parc Lorraine Lithonia, GA	3.0	2.0	1628	$1,550	$0.95	3d	1	0.46mi
5104 Fairington Ridge Cir Unit 5104 Stonecrest, GA	3.0	2.0	1292	$1,400	$1.08	25d	1	0.46mi
3100 Bonnes Dr Lithonia, GA	3.0	2.5	1608	$1,800	$1.12	44d	1	0.47mi
3039 Bonnes Dr Lithonia, GA	3.0	3.0	1608	$1,995	$1.24	44d	1	0.48mi
3039 Bonnes Dr Lithonia, GA	3.0	3.0	1608	$1,995	$1.24	13d	1	0.48mi
7104 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	3d	1	0.49mi
6301 Fairington Village Dr Stonecrest, GA	3.0	2.0	1300	$1,900	$1.46	5d	1	0.50mi
8202 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1300	$1,900	$1.46	44d	1	0.50mi
2898 Norfair Loop Lithonia, GA	2.0	1.5	1240	$1,506	$1.21	5d	1	0.50mi
2928 Parc Lorraine Lithonia, GA	3.0	2.0	1788	$1,425	$0.80	22d	1	0.50mi
2932 Parc Lorraine Lithonia, GA	2.0	2.0	1280	$1,399	$1.09	25d	1	0.51mi
2940 Parc Lorraine Unit 1 Stonecrest, GA	2.0	2.0	1072	$1,195	$1.11	44d	1	0.52mi
89 Tiburon Ct Lithonia, GA	2.0	1.5	1250	$1,450	$1.16	13d	1	0.57mi
3060 Aberdeen Way Lithonia, GA	3.0	2.0	1592	$1,850	$1.16	25d	1	0.64mi
5654 Bradley Cir Lithonia, GA	2.0	1.0	1428	$1,643	$1.15	0d	1	0.65mi
3127 Fields Dr Lithonia, GA	2.0	2.5	1206	$1,800	$1.49	19d	1	0.67mi
5588 Fairington Pl Lithonia, GA	2.0	1.0	1260	$1,295	$1.03	44d	1	0.72mi
5052 Chupp Way Cir Lithonia, GA	2.0	2.5	1150	$1,580	$1.37	44d	1	0.72mi
5044 Chupp Way Cir Lithonia, GA	3.0	2.5	1212	$1,395	$1.15	22d	1	0.73mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-18
   days on market $109,900 Active 14 DOM
2. 2026-06-17
   days on market $109,900 Active 13 DOM
3. 2026-06-16
   days on market $109,900 Active 12 DOM
4. 2026-06-15
   days on market $109,900 Active 11 DOM
5. 2026-06-13
   days on market $109,900 Active 9 DOM
6. 2026-06-09
   days on market $109,900 Active 5 DOM
7. 2026-06-08
   days on market $109,900 Active 4 DOM
8. 2026-06-07
   remarks 446-char remark
9. 2026-06-07
   listed $109,900 Active 3 DOM

ⓘ 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: $2,537 · $211/mo
• Projected year-2 tax: $2,537 · $211/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 7/10 Severe FEMA zone X (unshaded) · 76% 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 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,673
• − Mortgage interest: −$6,156
• − Property taxes: −$2,537
• − Insurance: −$1,347
• − Repairs & maintenance: −$1,574
• − Management: −$1,574
• − HOA: −$3,000
• − Depreciation: −$3,197
• Taxable income: $288
• Est. tax owed @ 24.0%: −$69
• After-tax cash flow: $1,673/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 — Stonecrest

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Stonecrest, GA
• County: Dekalb County · 782,738 people
• City population: 106,165
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 43,776
• Household income: $73,694
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1168.0

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% Two or more races 10% Hispanic / Latino 5% White 4% Asian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -74.98%
• Current HPI: 192.8328
• Rent YoY: ▲ 4.60%
• 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

+134.8% since first listed

43 events — show timeline

• 2026-06-02 Listed $109,900 GAMLS
• 2026-06-02 Listed $109,900 FMLS
• 2026-02-28 Listing Removed — FMLS
• 2026-02-28 Listing Removed — GAMLS
• 2025-11-11 Price Changed $115,000 GAMLS
• 2025-11-11 Price Changed $115,000 FMLS
• 2025-09-04 Listed $145,000 FMLS
• 2025-09-04 Listed $145,000 GAMLS
• 2025-02-07 Listing Removed — GAMLS
• 2025-01-17 Price Changed $160,000 GAMLS
• 2024-12-06 Listed $170,000 GAMLS
• 2022-11-14 Sold (Public Records) $165,000 Public Records
• 2022-07-20 Sold (Public Records) $140,000 Public Records
• 2020-05-06 Sold (Public Records) $20,000 Public Records
• 2020-04-01 Listing Removed — GAMLS
• 2019-11-03 Relisted — GAMLS
• 2019-11-01 Listing Removed — GAMLS
• 2019-07-11 Price Changed $55,000 GAMLS
• 2019-07-10 Listing Removed — GAMLS
• 2019-07-01 Relisted — GAMLS
• 2019-07-01 Listed $59,000 GAMLS
• 2019-06-14 Listing Removed — GAMLS
• 2019-03-05 Price Changed $53,500 GAMLS
• 2019-02-13 Listed $54,000 GAMLS
• 2018-12-24 Listing Removed — GAMLS
• 2018-12-24 Listing Removed — FMLS
• 2018-09-26 Price Changed $53,500 GAMLS
• 2018-09-26 Price Changed $53,500 FMLS
• 2018-09-25 Price Changed $57,000 GAMLS
• 2018-09-24 Price Changed $57,000 FMLS
• 2018-08-20 Price Changed $64,000 GAMLS
• 2018-08-05 Price Changed $64,000 FMLS
• 2018-06-28 Listed $70,500 GAMLS
• 2018-06-28 Listed $70,500 FMLS
• 2016-12-23 Sold (MLS) $28,000 GAMLS
• 2016-12-12 Pending — GAMLS
• 2016-11-15 Listed $33,000 GAMLS
• 2006-07-26 Sold (Public Records) $89,000 Public Records
• 1998-04-23 Sold (Public Records) $54,500 Public Records
• 1990-12-28 Sold (Public Records) $48,000 Public Records
• 1987-11-13 Sold (Public Records) $57,800 Public Records
• 1986-09-11 Sold (Public Records) $53,100 Public Records
• 1981-01-08 Sold (Public Records) $46,800 Public Records

Property tax history

+11.1%/yr

Latest (2025): $2,537 · -17.6% YoY. Source: county tax records.