172 Watercress Ct · Stockbridge, GA 30281

$204,000

3 bd · 2.5 ba · 1,380 sqft · SingleFamily public records · 69 Days on market

Built 2000 2,996 sqft lot $148/sqft · at area comps Est $196k · at est. $30/mo HOA · 2% of rent ↓ 4% since listing

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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).

• Cash flow +15.3/30.0
• ARV discount +5.7/15.0
• DSCR +4.7/10.0
• 1% rule +4.0/10.0
• Livability +3.0/5.0
• Rent growth +2.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see 172 Watercress Ct, a residence featuring fresh interior paint and partial flooring replacement throughout. The living area is centered around a functional fireplace, providing a focal point for comfort. An exterior patio expands the usable space. This updated property blends functional improvements with comfortable living. This refreshed property with inviting features awaits.. Included 100-Day Home Warranty with buyer activation

Key facts

• Functional fireplace
• Interior paint
• Exterior patio

Tags

• INTERIOR PAINT
• PARTIAL FLOORING REPLACEMENT
• FUNCTIONAL FIREPLACE
• EXTERIOR PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $204k.

Deal economics

• At list price, monthly cash flow is $75 ($896/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 $184k (9.8% below list).
• Recommended offer: $184k (9.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Pate'S Creek Elementary School (math 27% / reading 27%, grade F, #689 of 1,228 statewide, top 58%, 533 students, 62% FRL); Dutchtown Middle School (math 21% / reading 37%, grade F, #258 of 470 statewide, top 55%, 1,092 students, 50% FRL); Dutchtown High (math 32% / reading 38%, grade F, #84 of 424 statewide, top 20%, 1,861 students, 43% FRL).
• Market conditions: Rents flat; 611 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).
• This rent runs 31% of the median local income ($71k/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.
• Henry 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 69 days — a 6% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $12k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $183,940 (9.8% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 6.73%
• Cash-on-cash: 1.57%
• DSCR: 1.07
• GRM: 9.2

CMA / ARV

• ARV (median comp): $196,117
• List price: $204,000
• Delta: 4.02%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
256 Turnstone Rd	0.05mi	3/2.5	1,440 (+4%)	9mo	$196,000	$136	83
320 Goldenrod Dr	0.11mi	3/2.5	1,440 (+4%)	16mo	$196,000	$136	74
309 Goldenrod Dr	0.13mi	3/2.5	1,440 (+4%)	16mo	$197,000	$137	74
114 Vincent Ave	0.41mi	3/2.0	1,244 (-10%)	1mo	$241,000	$194	62
1585 Thornwick Trce	0.72mi	3/2.0	1,409 (+2%)	24mo	$319,900	$227	41

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 · 0.87% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.44×
• Total profit: $-32,154
• Equity at exit: $30,417

10-year hold

• IRR: -12.0%
• Equity multiple: 0.35×
• Total profit: $-37,019
• Equity at exit: $17,638

Cash invested: $57,120 (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 30281

• Home prices YoY: -33.6%
• Rents YoY: 0.9%
• Active inventory: 611
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,839 high
• Mortgage (P&I): −$1,070
• Tax from tax record: −$194 /mo · $2,324/yr
• Insurance: −$85
• HOA: −$30
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $75

Break-even live

Break-even rent $1,745

Max offer price $204,000

Occupancy floor 91%

Sensitivity live

Price	-10% $190	-5% $132	+0% $75	+5% $17	+10% $-41
Rent	-10% $-71	-5% $2	+0% $75	+5% $147	+10% $220
Rate	-1.0pp $177	-0.5pp $127	base $75	+0.5pp $22	+1.0pp $-32

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: $51,000
• Closing costs: $6,120
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
168 Watercress Ct Stockbridge, GA	3.0	2.5	1380	$1,857	$1.35	7d	1	0.04mi
137 Watercress Ct Stockbridge, GA	3.0	2.5	1440	$1,631	$1.13	1d	1	0.12mi
305 Saint Ives Xing Stockbridge, GA	1.0–3.0	1.0–2.0	1146	$1,898	$1.66	1d	17	0.55mi
190 Oakwood Cir Stockbridge, GA	3.0	2.0	1276	$1,750	$1.37	20d	1	0.55mi
117 Hudson Bridge Ter Stockbridge, GA	2.0	2.5	1216	$1,450	$1.19	19d	1	0.72mi
136 Hudson Bridge Ter Stockbridge, GA	2.0	2.5	1216	$1,500	$1.23	19d	1	0.73mi
250 Evergreen Ter Stockbridge, GA	1.0–3.0	1.0–2.0	1088	$1,995	$1.83	0d	23	0.76mi
80 Ridgewood Trl Stockbridge, GA	3.0	2.0	1229	$1,879	$1.53	7d	1	1.07mi
370 Tait Rd Stockbridge, GA	3.0	2.0	1489	$2,016	$1.35	45d	1	1.15mi
1107 Rock Quarry Rd Stockbridge, GA	3.0	2.0	1479	$1,739	$1.18	26d	1	1.18mi
1107 Rock Quarry Rd Stockbridge, GA	2.0	2.0	1177	$1,499	$1.27	45d	1	1.18mi
640 Fairgreen Trl Stockbridge, GA	3.0	2.0	1651	$1,859	$1.13	45d	1	1.20mi
641 Delay Way Stockbridge, GA	3.0	2.0	1553	$1,949	$1.25	1d	1	1.24mi
437 Summer Hill Cir Stockbridge, GA	3.0	2.0	1577	$1,970	$1.25	45d	1	1.26mi
370 Summer Hill Cir Stockbridge, GA	3.0	2.5	1853	$2,185	$1.18	46d	1	1.27mi
725 Old Stone Ct Stockbridge, GA	3.0	2.0	1400	$1,945	$1.39	1d	1	1.35mi
226 Due West Dr Stockbridge, GA	4.0	2.5	1862	$2,220	$1.19	45d	1	1.44mi

HOA detail

• Monthly dues: $30 · $360/yr
• Likely covers: water

Listing history 21 events

1. 2026-06-21
   days on market $204,000 Active 69 DOM
2. 2026-06-18
   days on market $204,000 Active 66 DOM
3. 2026-06-17
   days on market $204,000 Active 65 DOM
4. 2026-06-16
   days on market $204,000 Active 64 DOM
5. 2026-06-15
   days on market $204,000 Active 63 DOM
6. 2026-06-13
   pricedays on market $204,000 Active 61 DOM
7. 2026-06-09
   days on market $207,000 Active 57 DOM
8. 2026-06-08
   days on market $207,000 Active 56 DOM
9. 2026-06-07
   days on market $207,000 Active 55 DOM
10. 2026-06-04
    days on market $207,000 Active 52 DOM
11. 2026-06-03
    days on market $207,000 Active 51 DOM
12. 2026-06-02
    days on market $207,000 Active 50 DOM
13. 2026-06-01
    days on market $207,000 Active 49 DOM
14. 2026-05-31
    days on market $207,000 Active 48 DOM
15. 2026-05-07
    price $207,000 442-char remark

    Show marketing remark (442 chars)

    Come see 172 Watercress Ct, a residence featuring fresh interior paint and partial flooring replacement throughout. The living area is centered around a functional fireplace, providing a focal point for comfort. An exterior patio expands the usable space. This updated property blends functional improvements with comfortable living. This refreshed property with inviting features awaits.. Included 100-Day Home Warranty with buyer activation

16. 2026-05-07
    price $207,000 442-char remark

    Show marketing remark (442 chars)

    Come see 172 Watercress Ct, a residence featuring fresh interior paint and partial flooring replacement throughout. The living area is centered around a functional fireplace, providing a focal point for comfort. An exterior patio expands the usable space. This updated property blends functional improvements with comfortable living. This refreshed property with inviting features awaits.. Included 100-Day Home Warranty with buyer activation

17. 2026-04-23
    price $210,000 442-char remark

    Show marketing remark (442 chars)

    Come see 172 Watercress Ct, a residence featuring fresh interior paint and partial flooring replacement throughout. The living area is centered around a functional fireplace, providing a focal point for comfort. An exterior patio expands the usable space. This updated property blends functional improvements with comfortable living. This refreshed property with inviting features awaits.. Included 100-Day Home Warranty with buyer activation

18. 2026-04-23
    price $210,000 442-char remark

    Show marketing remark (442 chars)

    Come see 172 Watercress Ct, a residence featuring fresh interior paint and partial flooring replacement throughout. The living area is centered around a functional fireplace, providing a focal point for comfort. An exterior patio expands the usable space. This updated property blends functional improvements with comfortable living. This refreshed property with inviting features awaits.. Included 100-Day Home Warranty with buyer activation

19. 2026-04-15
    soldstatus $211,200
20. 2026-04-13
    listed $216,000 New 442-char remark

    Show marketing remark (442 chars)

    Come see 172 Watercress Ct, a residence featuring fresh interior paint and partial flooring replacement throughout. The living area is centered around a functional fireplace, providing a focal point for comfort. An exterior patio expands the usable space. This updated property blends functional improvements with comfortable living. This refreshed property with inviting features awaits.. Included 100-Day Home Warranty with buyer activation

21. 2026-04-13
    listed $216,000 Active 442-char remark

    Show marketing remark (442 chars)

    Come see 172 Watercress Ct, a residence featuring fresh interior paint and partial flooring replacement throughout. The living area is centered around a functional fireplace, providing a focal point for comfort. An exterior patio expands the usable space. This updated property blends functional improvements with comfortable living. This refreshed property with inviting features awaits.. Included 100-Day Home Warranty with buyer activation

ⓘ 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: $2,324 · $194/mo
• Projected year-2 tax: $2,324 · $194/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 2/10 Low
• 🌡 Heat 6/10 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: $22,073
• − Mortgage interest: −$11,427
• − Property taxes: −$2,324
• − Insurance: −$1,020
• − Repairs & maintenance: −$1,766
• − Management: −$1,766
• − HOA: −$360
• − Depreciation: −$5,935
• Taxable loss: −$2,525
• Est. tax savings @ 24.0%: +$606
• After-tax cash flow: $1,502/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: Henry County
• NCES district ID: 1302820
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $62,594
• Composite: 26.13/100
• National rank: #7279
• State rank: #89 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: Henry County · 316,359 people
• City population: 71,603
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 71,603
• Household income: $71,213
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 2464.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 249,041 people
• By 2030: 264,369 · +6.2%
• By 2040: 294,459 · +18.2%
• By 2050: 322,249 · +29.4%
• By 2075: 392,310 · +57.5%
• By 2100: 437,836 · +75.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 55% White 28% Hispanic / Latino 11% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Hispanic 1% Italian 1% Romanian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 8% Vietnamese 2% French/Haitian/Cajun 1%

Political lean MEDSL · Henry

• 2024 margin: Strong D (+29.7) · D 64.5% · R 34.9%
• 2008→2024 swing: +37.1pp toward D · 2008: -7.5pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+20.5 2016: D+4.3 2012: R+3.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.76%
• Current HPI: 207.2332
• Rent YoY: ▲ 0.87%
• 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

-4.2% since first listed

7 events — show timeline

• 2026-05-07 Price Changed $207,000 FMLS
• 2026-05-07 Price Changed $207,000 GAMLS
• 2026-04-23 Price Changed $210,000 GAMLS
• 2026-04-23 Price Changed $210,000 FMLS
• 2026-04-15 Sold (Public Records) $211,200 Public Records
• 2026-04-13 Listed $216,000 FMLS
• 2026-04-13 Listed $216,000 GAMLS

Property tax history

+3.5%/yr

Latest (2025): $2,324 · +5.1% YoY. Source: county tax records.