5591 Luther Ct · Forest Park, GA 30294

$275,000

4 bd · 2.0 ba · 2,136 sqft · SingleFamily public records · 8 Days on market

Built 2015 0.25 ac lot $129/sqft · 18% below area Est $335k · 18% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.6/30.0
• DSCR +4.1/10.0
• 1% rule +4.0/10.0
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

Key facts

• 0.25 acre lot
• Garage
• Built 2015

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Garage
• Utilities: Public water; Public sewer; Other utilities
• Home design: Single family residence (house); Two levels; Resale property
• Construction: Built in 2015
• Exterior features: Other roof; Vinyl siding; Lot features: Other; Approximately 0.25 acre lot

Interior

• Kitchen: Other appliances
• Bedrooms: 4 bedrooms
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total)
• Heating & cooling: Electric heating and other heating; Central air conditioning
• Interior features: Other interior features; One fireplace; Family room
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $14 ($172/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 $247k (10.1% below list).
• Recommended offer: $247k (10.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.2% in Forest Park — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#209 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools F, crime 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.
• Market conditions: Rents rising fast (+4.6%/yr); 244 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• This rent runs 37% 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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.
• Current owner paid $155k; list at $275k implies a 77% 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 8→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $247,115 (10.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
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: 0.90% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 9.3

CMA / ARV

• ARV (median comp): $335,402
• List price: $275,000
• Delta: -18.01%
• 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
5502 Amelia Ln	0.27mi	4/2.5	2,153 (+1%)	3mo	$275,000	$128	82
3595 Edie's Way	0.33mi	4/2.5	2,036 (-5%)	8mo	$265,000	$130	68
3520 Stagecoach Pass	0.59mi	4/2.0	2,057 (-4%)	0mo	$325,000	$158	66
3700 Stagecoach Pass	0.73mi	4/2.0	2,057 (-4%)	1mo	$298,000	$145	59
5370 Queen Ester Ct	0.67mi	3/2.5 (-1)	2,123 (-1%)	2mo	$270,000	$127	59
5399 Emily Cir	0.38mi	4/2.5	2,300 (+8%)	11mo	$337,000	$147	58
5388 Peachtree Landing Dr	0.64mi	4/3.0	2,082 (-2%)	9mo	$285,000	$137	54
3614 Stagecoach Pass	0.58mi	5/3.0 (+1)	2,037 (-5%)	6mo	$330,000	$162	52
5806 Waggoner Ct	0.48mi	3/2.5 (-1)	1,817 (-15%)	1mo	$262,500	$144	45
3491 Saddle Creek Ln	0.66mi	4/2.5	2,408 (+13%)	8mo	$302,500	$126	40
5510 Platte Dr	0.67mi	4/3.0	2,432 (+14%)	7mo	$250,000	$103	36
5954 Rex Ridge Ct	0.74mi	5/3.0 (+1)	2,446 (+14%)	2mo	$335,000	$137	30

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-39,650
• Equity at exit: $41,003

10-year hold

• IRR: -3.0%
• Equity multiple: 0.79×
• Total profit: $-16,420
• Equity at exit: $23,777

Cash invested: $77,000 (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: 9.3×

Monthly cashflow live

• Estimated rent: $2,471 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$381 /mo · $4,574/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $14

Break-even live

Break-even rent $2,453

Max offer price $275,000

Occupancy floor 94%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5567 Katherine Village Dr Ellenwood, GA	3.0	2.0	2031	$2,505	$1.23	1d	1	0.42mi
3076 Cotton Indian Cir Ellenwood, GA	5.0	3.0	2351	$2,695	$1.15	43d	1	0.47mi
3344 Waggoner Trl Rex, GA	5.0	3.0	1753	$2,775	$1.58	4d	1	0.48mi
5544 Frontier Ct Ellenwood, GA	4.0	2.5	1800	$2,109	$1.17	24d	1	0.54mi
3360 Waggoner Ln Rex, GA	4.0	3.0	1948	$2,135	$1.10	10d	1	0.62mi
5862 Waggoner Ct Rex, GA	4.0	2.0	1558	$2,226	$1.43	21d	1	0.64mi
2986 Bunchberry Ct Ellenwood, GA	4.0	2.5	2120	$2,331	$1.10	24d	1	0.74mi
2941 Partin Pl Ellenwood, GA	4.0	2.5	1874	$2,155	$1.15	15d	1	0.81mi
3769 Stagecoach Pass Ellenwood, GA	3.0	2.0	1800	$2,200	$1.22	43d	1	0.83mi
5913 Homestead Ct Rex, GA	5.0	3.0	2274	$2,299	$1.01	43d	1	1.16mi
2710 Luke Dr Ellenwood, GA	4.0	3.0	2213	$2,435	$1.10	43d	1	1.20mi
5894 Homestead Cir Rex, GA	3.0	2.0	1462	$1,890	$1.29	5d	1	1.25mi
6169 Fay Ct Rex, GA	3.0	2.0	1416	$2,100	$1.48	43d	1	1.26mi
5900 Homestead Cir Rex, GA	3.0	2.0	1544	$1,937	$1.25	43d	1	1.26mi
2958 Stone Creek Dr Rex, GA	3.0	2.0	1506	$1,800	$1.20	12d	1	1.28mi
5832 Mays Ridge Ct Rex, GA	4.0	3.0	1408	$2,020	$1.43	43d	1	1.29mi
5762 Northspring Dr Ellenwood, GA	3.0	2.0	1577	$1,705	$1.08	12d	1	1.32mi
2617 Old Rex Morrow Rd Ellenwood, GA	4.0	3.0	1800	$1,950	$1.08	12d	1	1.36mi
2603 Old Rex Morrow Rd Ellenwood, GA	4.0	3.0	1800	$2,510	$1.39	44d	1	1.40mi
5789 Colt Ct Ellenwood, GA	4.0	3.0	1877	$2,020	$1.08	43d	1	1.48mi

Listing history 16 events

1. 2026-05-13
   status Under Contract 198-char remark
2. 2026-05-05
   listed $275,000 New 198-char remark
3. 2026-04-30
   historical $275,000 198-char remark
4. 2015-07-15
   price $154,990 257-char remark

   Show marketing remark (257 chars)

   FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

5. 2015-06-25
   price $154,990

   Show marketing remark (257 chars)

   FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

6. 2015-06-23
   soldstatus $154,990 Sold 257-char remark

   Show marketing remark (257 chars)

   FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

7. 2015-06-23
   soldstatus $154,990 Sold

   Show marketing remark (257 chars)

   FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

8. 2015-06-23
   price $156,990

   Show marketing remark (257 chars)

   FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

9. 2015-04-07
   status Under Contract 257-char remark

   Show marketing remark (257 chars)

   FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

10. 2015-04-07
    historical Pending

    Show marketing remark (257 chars)

    FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

11. 2015-04-07
    price $156,990 257-char remark

    Show marketing remark (257 chars)

    FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

12. 2015-04-02
    price $156,990

    Show marketing remark (257 chars)

    FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

13. 2015-04-02
    price $156,990 257-char remark

    Show marketing remark (257 chars)

    FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

14. 2015-02-09
    listed $155,990 Active

    Show marketing remark (257 chars)

    FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

15. 2015-02-09
    listed $155,990 New 257-char remark

    Show marketing remark (257 chars)

    FANTASTIC OPEN FIRST FLOOR W/ENORMOUS GREAT ROOM W/CORNER ELECTRIC FIREPLACE & GOURMET KITCHEN INCLUDING GE BLACK ELECTRIC SELF CLEANING RANGE, DISHWASHER & MICROWAVE. TWO STORY, 4 BEDROOM, 2.5 BATH. CONVENIENT UPSTAIRS LAUNDRY. COVERED FRONT PORCH.

16. 2009-07-29
    soldstatus $741,000

ⓘ 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: $4,574 · $381/mo
• Projected year-2 tax: $4,574 · $381/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 8 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $29,654
• − Mortgage interest: −$15,404
• − Property taxes: −$4,574
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,372
• − Management: −$2,372
• − Depreciation: −$8,000
• Taxable loss: −$4,444
• Est. tax savings @ 24.0%: +$1,067
• After-tax cash flow: $1,239/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 — Forest Park

• Score: 65/100
• State rank: #209
• US rank: #12698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henry County · 316,359 people
• City population: 29,210
• 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 (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: 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 · 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: ▼ -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

-62.9% since first listed

16 events — show timeline

• 2026-05-13 Pending — GAMLS
• 2026-05-05 Listed $275,000 GAMLS
• 2026-04-30 Coming Soon $275,000 GAMLS
• 2015-07-15 Price Changed $154,990 GAMLS
• 2015-06-25 Price Changed $154,990 FMLS
• 2015-06-23 Sold (MLS) $154,990 GAMLS
• 2015-06-23 Price Changed $156,990 FMLS
• 2015-06-23 Sold (MLS) $154,990 FMLS
• 2015-04-07 Pending — GAMLS
• 2015-04-07 Contingent — FMLS
• 2015-04-07 Price Changed $156,990 GAMLS
• 2015-04-02 Price Changed $156,990 FMLS
• 2015-04-02 Price Changed $156,990 GAMLS
• 2015-02-09 Listed $155,990 FMLS
• 2015-02-09 Listed $155,990 GAMLS
• 2009-07-29 Sold (Public Records) $741,000 Public Records

Property tax history

+15.1%/yr

Latest (2025): $4,574 · -2.7% YoY. Source: county tax records.