1151 Rankin St Unit 2B · Stone Mountain, GA 30083

$89,000

2 bd · 1.5 ba · 1,190 sqft · Condo public records · 400 Days on market

Built 1971 $75/sqft · 27% below area Est $123k · 27% under $265/mo HOA · 16% of rent ↓ 42% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special! This property is being sold AS-IS and offers incredible potential for the right buyer. Perfect opportunity for a renovation project that can be transformed into a fantastic income-producing property. Great location with strong investment upside.

Key facts

• Renovation project
• $265 HOA
• Built 1971

Tags

• RENOVATION PROJECT
• INCOME-PRODUCING PROPERTY
• STRONG INVESTMENT UPSIDE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $89k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 5.1% in Stone Mountain — 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 79/100 on livability (#11 in GA, #1,977 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, crime 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.
• Market conditions: Rents rising (+1.3%/yr); 257 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 35% of the median local income ($55k/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 $615 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.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 400 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $36k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 400 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 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is F 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?
9. 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.
10. 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.
11. 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: 1.82% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.12%
• DSCR: 1.94
• GRM: 4.6

CMA / ARV

• ARV (median comp): $122,675
• List price: $89,000
• Delta: -27.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.31% rent growth · sell at horizon

5-year hold

• IRR: 11.4%
• Equity multiple: 1.44×
• Total profit: $10,965
• Equity at exit: $13,270

10-year hold

• IRR: 18.8%
• Equity multiple: 2.42×
• Total profit: $35,436
• Equity at exit: $7,695

Cash invested: $24,920 (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 30083

• Rents YoY: 1.3%
• Active inventory: 257
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,619 high
• Mortgage (P&I): −$467
• Tax from tax record: −$72 /mo · $863/yr
• Insurance: −$37
• HOA: −$265
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $439

Break-even live

Break-even rent $1,064

Max offer price $89,000

Occupancy floor 68%

Sensitivity live

Price	-10% $489	-5% $464	+0% $439	+5% $413	+10% $388
Rent	-10% $311	-5% $375	+0% $439	+5% $503	+10% $566
Rate	-1.0pp $483	-0.5pp $461	base $439	+0.5pp $415	+1.0pp $392

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1150 Rankin St Stone Mountain, GA	2.0	2.5	1495	$1,850	$1.24	25d	1	0.13mi
1150 Rankin St Stone Mountain, GA	2.0–3.0	2.5	1437	$1,600	$1.11	44d	2	0.16mi
1248 Park Blvd Stone Mountain, GA	3.0	2.0	1350	$1,880	$1.39	44d	1	0.22mi
1047 Ridge Ave Stone Mountain, GA	3.0	1.0	1402	$2,150	$1.53	25d	1	0.43mi
1313 Stone Mill Way Stone Mountain, GA	1.0–4.0	1.0–2.5	1004	$1,392	$1.39	16d	12	0.66mi
1010 Sexton Dr Stone Mountain, GA	2.0	2.0	1000	$1,250	$1.25	13d	1	0.73mi
1900 Tree Mountain Pkwy Stone Mountain, GA	1.0–2.0	1.0–2.5	1118	$1,200	$1.07	0d	25	0.90mi
768 Fourth St Stone Mountain, GA	3.0	2.0	1200	$2,100	$1.75	5d	1	0.91mi
5100 W Mountain St Stone Mountain, GA	1.0–3.0	1.0–2.0	1150	$1,252	$1.09	4d	11	0.94mi
967 Pine Roc Dr Stone Mountain, GA	3.0	2.0	1206	$1,900	$1.58	11d	1	0.96mi
1310 Wood Bend Dr Stone Mountain, GA	1.0–2.0	1.0–2.0	909	$1,500	$1.65	0d	76	0.96mi
779 Pepperwood Trl Stone Mountain, GA	3.0	2.0	1458	$1,980	$1.36	0d	1	1.02mi
5030 W Mountain St Stone Mountain, GA	2.0	1.0	1175	$1,199	$1.02	44d	1	1.02mi
4958 Central Dr Apt D Stone Mountain, GA	2.0	1.0	900	$995	$1.11	22d	1	1.13mi
4923 Sheila Ln Stone Mountain, GA	3.0	2.0	1266	$1,200	$0.95	44d	1	1.23mi
5280 Ridge Forest Dr Stone Mountain, GA	2.0	2.5	1170	$1,325	$1.13	44d	1	1.26mi
4900 Central Dr Stone Mountain, GA	1.0–3.0	1.0–2.0	1100	$1,362	$1.24	0d	15	1.27mi
5353 Ridgemere Ct Stone Mountain, GA	3.0	2.5	1160	$1,465	$1.26	5d	1	1.30mi
5351 Ridgemere Ct Stone Mountain, GA	3.0	2.5	1160	$1,465	$1.26	5d	1	1.31mi
5025 Brittany Dr Stone Mountain, GA	3.0	2.5	1484	$1,845	$1.24	13d	1	1.34mi
1075 N Hairston Rd Stone Mountain, GA	1.0–3.0	1.0–2.0	992	$1,348	$1.36	5d	12	1.40mi
1073 Thornwoode Ln Stone Mountain, GA	3.0	2.5	1235	$697	$0.56	22d	1	1.47mi
5612 Pennybrook Ct Stone Mountain, GA	3.0	2.0	1364	$1,941	$1.42	13d	1	1.49mi

HOA detail condo

• Monthly dues: $265 · $3,180/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-17
   status $89,000 Pending 400 DOM
2. 2026-06-17
   days on market $89,000 Active 400 DOM
3. 2026-06-16
   days on market $89,000 Active 399 DOM
4. 2026-06-15
   days on market $89,000 Active 398 DOM
5. 2026-06-13
   days on market $89,000 Active 396 DOM
6. 2026-06-09
   days on market $89,000 Active 392 DOM
7. 2026-06-08
   days on market $89,000 Active 391 DOM
8. 2026-06-07
   days on market $89,000 Active 390 DOM
9. 2026-06-04
   days on market $89,000 Active 387 DOM
10. 2026-06-03
    days on market $89,000 Active 386 DOM
11. 2026-06-02
    days on market $89,000 Active 385 DOM
12. 2026-06-01
    days on market $89,000 Active 384 DOM
13. 2026-05-31
    days on market $89,000 Active 383 DOM
14. 2025-12-02
    price $89,000 263-char remark

    Show marketing remark (263 chars)

    Investor Special! This property is being sold AS-IS and offers incredible potential for the right buyer. Perfect opportunity for a renovation project that can be transformed into a fantastic income-producing property. Great location with strong investment upside.

15. 2025-12-02
    price $89,000 263-char remark

    Show marketing remark (263 chars)

    Investor Special! This property is being sold AS-IS and offers incredible potential for the right buyer. Perfect opportunity for a renovation project that can be transformed into a fantastic income-producing property. Great location with strong investment upside.

16. 2025-08-18
    price $109,000 263-char remark

    Show marketing remark (263 chars)

    Investor Special! This property is being sold AS-IS and offers incredible potential for the right buyer. Perfect opportunity for a renovation project that can be transformed into a fantastic income-producing property. Great location with strong investment upside.

17. 2025-08-18
    price $109,000 263-char remark

    Show marketing remark (263 chars)

    Investor Special! This property is being sold AS-IS and offers incredible potential for the right buyer. Perfect opportunity for a renovation project that can be transformed into a fantastic income-producing property. Great location with strong investment upside.

18. 2025-05-13
    listed $125,000 New 263-char remark

    Show marketing remark (263 chars)

    Investor Special! This property is being sold AS-IS and offers incredible potential for the right buyer. Perfect opportunity for a renovation project that can be transformed into a fantastic income-producing property. Great location with strong investment upside.

19. 2025-05-13
    listed $125,000 Active 263-char remark

    Show marketing remark (263 chars)

    Investor Special! This property is being sold AS-IS and offers incredible potential for the right buyer. Perfect opportunity for a renovation project that can be transformed into a fantastic income-producing property. Great location with strong investment upside.

20. 2005-09-08
    soldstatus $89,900
21. 2005-09-08
    soldstatus $89,900
22. 2004-02-19
    soldstatus $153,100

ⓘ 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: $863 · $72/mo
• Projected year-2 tax: $863 · $72/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 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% 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: $19,431
• − Mortgage interest: −$4,985
• − Property taxes: −$863
• − Insurance: −$445
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − HOA: −$3,180
• − Depreciation: −$2,589
• Taxable income: $4,260
• Est. tax owed @ 24.0%: −$1,022
• After-tax cash flow: $4,240/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 — Stone Mountain

• Score: 79/100
• State rank: #11
• US rank: #1977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stone Mountain, GA
• County: Dekalb County · 782,738 people
• City population: 130,941
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 62,724
• Household income: $55,307
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 3574.0

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 (75%)
• Race & ethnicity: Black 75% White 8% Asian 8% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Arab 1%
• Foreign-born: 24% · Canada, Vietnam, India
• Languages at home: 71% English-only · Spanish 4% Other Indo-European 4% Vietnamese 2%

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: ▼ -213.61%
• Current HPI: 216.2527
• Rent YoY: ▲ 1.31%
• 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

-41.9% since first listed

9 events — show timeline

• 2025-12-02 Price Changed $89,000 GAMLS
• 2025-12-02 Price Changed $89,000 FMLS
• 2025-08-18 Price Changed $109,000 GAMLS
• 2025-08-18 Price Changed $109,000 FMLS
• 2025-05-13 Listed $125,000 FMLS
• 2025-05-13 Listed $125,000 GAMLS
• 2005-09-08 Sold (Public Records) $89,900 Public Records
• 2005-09-08 Sold (Public Records) $89,900 Public Records
• 2004-02-19 Sold (Public Records) $153,100 Public Records

Property tax history

+1.2%/yr

Latest (2025): $863 · -10.3% YoY. Source: county tax records.