115 Belmont Farms Dr · Stockbridge, GA 30294

$204,900

3 bd · 2.0 ba · 1,600 sqft · SingleFamily public records · 44 Days on market

Built 1984 0.95 ac lot Est $242k · 15% under

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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 +21.3/30.0
• ARV discount +14.3/15.0
• DSCR +6.8/10.0
• 1% rule +5.7/10.0
• Rent growth +3.6/5.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 115 Belmont Farms Drive in Ellenwood, a multi-level home featuring 4 bedrooms and 2 full bathrooms. This property offers a functional layout with spacious living areas, abundant natural light, and flexible space for family, guests, or a home office. The large backyard provides great potential for outdoor enjoyment. Conveniently located near shopping, dining, and major highways, this home is a great opportunity for homeowners or investors alike.

Key facts

• Large backyard
• Outdoor enjoyment
• Functional layout

Tags

• MULTI-LEVEL HOME
• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREAS
• ABUNDANT NATURAL LIGHT
• LARGE BACKYARD
• OUTDOOR ENJOYMENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $199k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.3% 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: Fairview Elementary School (math 22% / reading 27%, grade F, #753 of 1,228 statewide, top 64%, 566 students, 69% FRL); Austin Road Middle School (math 15% / reading 35%, grade F, #291 of 470 statewide, top 64%, 542 students, 68% FRL); Stockbridge High School (math 5% / reading 28%, grade F, #284 of 424 statewide, top 67%, 1,543 students, 54% FRL) — zoned schools average 64% FRL vs 43% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.6%/yr); 244 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).
• This rent runs 33% of the median local income ($80k/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 44 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 3 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 $135k; list at $205k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% 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 $198,753 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.28%
• DSCR: 1.28
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $241,600
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Citation Ct	0.05mi	3/2.0	1,575 (-2%)	11mo	$278,000	$177	86
140 Triple Crown Ln	0.19mi	4/2.0 (+1)	1,638 (+2%)	5mo	$220,000	$134	78
20 Roundup Pl	0.54mi	3/2.0	1,585 (-1%)	6mo	$210,000	$132	68
110 Belmont Farms Dr	0.05mi	4/2.0 (+1)	1,460 (-9%)	16mo	$178,900	$123	65
130 Belmont Farms Dr	0.07mi	4/2.0 (+1)	1,766 (+10%)	14mo	$266,000	$151	63
260 Remington Trl	0.60mi	4/3.0 (+1)	1,512 (-6%)	4mo	$275,000	$182	51
275 Belmont Farms Dr	0.35mi	4/2.0 (+1)	1,746 (+9%)	24mo	$200,000	$115	44
326 Barr Cir NW	0.64mi	3/2.0	1,400 (-12%)	18mo	$212,420	$152	34

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 · 4.56% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-10,541
• Equity at exit: $30,551

10-year hold

• IRR: 6.6%
• Equity multiple: 1.53×
• Total profit: $30,449
• Equity at exit: $17,716

Cash invested: $57,372 (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 30294

• Home prices YoY: -25.0%
• Rents YoY: 4.6%
• Active inventory: 244
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,197 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$275 /mo · $3,303/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $300

Break-even live

Break-even rent $1,817

Max offer price $204,900

Occupancy floor 81%

Sensitivity live

Price	-10% $416	-5% $358	+0% $300	+5% $242	+10% $184
Rent	-10% $127	-5% $213	+0% $300	+5% $387	+10% $474
Rate	-1.0pp $403	-0.5pp $352	base $300	+0.5pp $247	+1.0pp $193

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
85 Derby Country Dr Ellenwood, GA	3.0	2.0	1273	$1,895	$1.49	25d	1	0.38mi
130 Derby Country Dr Ellenwood, GA	3.0	2.0	1273	$1,870	$1.47	0d	1	0.44mi
40 Wagon Wheel Dr Rex, GA	3.0	2.0	1404	$1,350	$0.96	6d	1	0.51mi
65 Juliana Dr Ellenwood, GA	4.0	2.5	2000	$5,200	$2.60	44d	1	1.18mi
3769 Stagecoach Pass Ellenwood, GA	3.0	2.0	1800	$2,200	$1.22	44d	1	1.30mi
85 Wilhelmina Dr Ellenwood, GA	3.0	2.0	1600	$4,900	$3.06	44d	1	1.31mi
3637 Windmill Rd Ellenwood, GA	3.0	1.0	1200	$1,695	$1.41	25d	1	1.37mi
4798 Moss Trce Ellenwood, GA	3.0	2.5	1730	$1,990	$1.15	25d	1	1.39mi
4595 Westminster Dr Ellenwood, GA	3.0	2.5	1689	$2,055	$1.22	21d	1	1.39mi
3971 Brookstone Ct Ellenwood, GA	4.0	2.5	1891	$2,256	$1.19	6d	1	1.45mi
4910 Brookstone Pkwy Ellenwood, GA	4.0	3.0	1728	$1,995	$1.15	2d	1	1.47mi
5832 Mays Ridge Ct Rex, GA	4.0	3.0	1408	$2,020	$1.43	44d	1	1.50mi

Listing history 26 events

1. 2026-06-16
   status $204,900 Under Contract 44 DOM
2. 2026-06-15
   days on market $204,900 Active 44 DOM
3. 2026-06-13
   days on market $204,900 Active 42 DOM
4. 2026-06-09
   days on market $204,900 Active 38 DOM
5. 2026-06-08
   days on market $204,900 Active 37 DOM
6. 2026-06-07
   days on market $204,900 Active 36 DOM
7. 2026-06-04
   days on market $204,900 Active 33 DOM
8. 2026-06-03
   days on market $204,900 Active 32 DOM
9. 2026-06-02
   statusdays on market $204,900 Active 31 DOM
10. 2026-06-01
    days on market $204,900 Price Change 30 DOM
11. 2026-05-31
    days on market $204,900 Price Change 29 DOM
12. 2026-04-24
    status Under Contract
13. 2026-04-17
    status Back On Market
14. 2026-04-07
    status Under Contract
15. 2026-03-18
    listed $214,900 New
16. 2026-01-31
    historical
17. 2026-01-26
    price $209,900
18. 2025-10-02
    price $218,900
19. 2025-09-12
    price $225,900
20. 2025-09-03
    price $232,900
21. 2025-08-11
    price $239,900
22. 2025-08-01
    price $244,900
23. 2025-07-15
    listed $249,900 New
24. 2006-06-21
    soldstatus $134,900
25. 1998-12-10
    soldstatus $81,900
26. 1988-08-12
    soldstatus $63,000

ⓘ 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: $3,303 · $275/mo
• Projected year-2 tax: $3,303 · $275/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 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,358
• − Mortgage interest: −$11,478
• − Property taxes: −$3,303
• − Insurance: −$1,024
• − Repairs & maintenance: −$2,109
• − Management: −$2,109
• − Depreciation: −$5,961
• Taxable income: $375
• Est. tax owed @ 24.0%: −$90
• After-tax cash flow: $3,511/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): 41,983
• Household income: $79,762
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 864.0

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: Predominantly Black (84%)
• Race & ethnicity: Black 84% Hispanic / Latino 7% Two or more races 6% White 6% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Hispanic 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 6% Vietnamese 1% 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: ▼ -70.99%
• Current HPI: 213.1999
• Rent YoY: ▲ 4.56%
• 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

+241.1% since first listed

15 events — show timeline

• 2026-04-24 Pending — GAMLS
• 2026-04-17 Relisted — GAMLS
• 2026-04-07 Pending — GAMLS
• 2026-03-18 Listed $214,900 GAMLS
• 2026-01-31 Listing Removed — GAMLS
• 2026-01-26 Price Changed $209,900 GAMLS
• 2025-10-02 Price Changed $218,900 GAMLS
• 2025-09-12 Price Changed $225,900 GAMLS
• 2025-09-03 Price Changed $232,900 GAMLS
• 2025-08-11 Price Changed $239,900 GAMLS
• 2025-08-01 Price Changed $244,900 GAMLS
• 2025-07-15 Listed $249,900 GAMLS
• 2006-06-21 Sold (Public Records) $134,900 Public Records
• 1998-12-10 Sold (Public Records) $81,900 Public Records
• 1988-08-12 Sold (Public Records) $63,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $3,303 · -0.5% YoY. Source: county tax records.