5516 Mountain Springs Cir · Redan, GA 30088

$99,000

2 bd · 1.0 ba · 1,056 sqft · Condo public records · 121 Days on market

Built 1985 $94/sqft · 53% below area $300/mo HOA · 17% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this cozy 2 bedroom, 1 bathroom condo featuring 1,056 sqft of inviting living space. Hardwood floors and a charming fireplace highlight the living room, perfect for relaxing evenings. Built in 1985, the home blends comfort and character with a practical layout. Residents enjoy access to a community pool and maintained common areas through the HOA. Ideally situated near Highway 78 in Stone Mountain, making commuting and daily conveniences a breeze.

Key facts

• Community pool
• Practical layout
• Charming fireplace

Tags

• HARDWOOD FLOORS
• COMMUNITY POOL
• MAINTAINED COMMON AREAS
• PRACTICAL LAYOUT
• INVITING LIVING SPACE
• CHARMING FIREPLACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 5.3% in Redan — 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 64/100 on livability (#274 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute 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 (+3.7%/yr); 215 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 30% of the median local income ($70k/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 $684 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 + 3.7% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; list at $99k implies a 241% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% 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 $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
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 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: 1.80% ✓
• Cap rate: 10.91%
• Cash-on-cash: 16.48%
• DSCR: 1.73
• GRM: 4.6

CMA / ARV

• ARV (median comp): $210,766
• List price: $99,000
• Delta: -53.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: 8.8%
• Equity multiple: 1.35×
• Total profit: $9,746
• Equity at exit: $14,761

10-year hold

• IRR: 18.9%
• Equity multiple: 2.66×
• Total profit: $46,084
• Equity at exit: $8,560

Cash invested: $27,720 (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 30088

• Rents YoY: 3.7%
• Active inventory: 215
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,780 high
• Mortgage (P&I): −$519
• Tax from tax record: −$165 /mo · $1,980/yr
• Insurance: −$41
• HOA: −$300
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $381

Break-even live

Break-even rent $1,298

Max offer price $99,000

Occupancy floor 74%

Sensitivity live

Price	-10% $437	-5% $409	+0% $381	+5% $353	+10% $325
Rent	-10% $240	-5% $310	+0% $381	+5% $451	+10% $521
Rate	-1.0pp $431	-0.5pp $406	base $381	+0.5pp $355	+1.0pp $329

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1610 Burnstone Dr Stone Mountain, GA	3.0	2.0	1370	$1,850	$1.35	44d	1	0.39mi
1652 Downs Xing Stone Mountain, GA	3.0	2.5	1376	$1,595	$1.16	0d	1	0.42mi
1717 Panola Rd Stone Mountain, GA	3.0–4.0	2.5	2107	$2,369	$1.12	0d	98	0.66mi
5349 Tracey Dr Stone Mountain, GA	3.0	2.0	1188	$1,975	$1.66	17d	1	0.79mi
5349 Tracey Dr Stone Mountain, GA	3.0	2.0	1188	$1,975	$1.66	44d	1	0.79mi
1893 Gingham Way Lithonia, GA	3.0	2.0	1144	$1,730	$1.51	17d	1	0.94mi
1874 Vauxhall Dr Lithonia, GA	3.0	2.0	1367	$1,595	$1.17	3d	1	1.03mi
5579 Marbut Rd Lithonia, GA	3.0	2.5	1280	$1,850	$1.45	44d	1	1.15mi
982 Chapman Cir Stone Mountain, GA	3.0	2.0	1476	$2,000	$1.36	2d	1	1.28mi
1373 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1296	$1,738	$1.34	0d	1	1.38mi
5536 Downs Way Lithonia, GA	3.0	2.0	1400	$1,600	$1.14	44d	1	1.39mi
1401 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1320	$1,675	$1.27	13d	1	1.42mi
4935 Millstone Walk Stone Mountain, GA	3.0	2.5	1248	$1,950	$1.56	5d	1	1.42mi
1228 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1344	$1,645	$1.22	44d	1	1.43mi
1958 Overton Trl Stone Mountain, GA	3.0	2.0	1100	$1,625	$1.48	22d	1	1.46mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $99,000 Active 121 DOM
2. 2026-06-17
   days on market $99,000 Active 120 DOM
3. 2026-06-16
   days on market $99,000 Active 119 DOM
4. 2026-06-15
   days on market $99,000 Active 118 DOM
5. 2026-06-13
   days on market $99,000 Active 116 DOM
6. 2026-06-09
   days on market $99,000 Active 112 DOM
7. 2026-06-08
   days on market $99,000 Active 111 DOM
8. 2026-06-07
   days on market $99,000 Active 110 DOM
9. 2026-06-04
   days on market $99,000 Active 107 DOM
10. 2026-06-03
    days on market $99,000 Active 106 DOM
11. 2026-06-02
    days on market $99,000 Active 105 DOM
12. 2026-06-01
    days on market $99,000 Active 104 DOM
13. 2026-05-31
    days on market $99,000 Active 103 DOM
14. 2026-04-10
    price $99,000 467-char remark

    Show marketing remark (467 chars)

    Welcome home to this cozy 2 bedroom, 1 bathroom condo featuring 1,056 sqft of inviting living space. Hardwood floors and a charming fireplace highlight the living room, perfect for relaxing evenings. Built in 1985, the home blends comfort and character with a practical layout. Residents enjoy access to a community pool and maintained common areas through the HOA. Ideally situated near Highway 78 in Stone Mountain, making commuting and daily conveniences a breeze.

15. 2026-03-12
    price $105,000 467-char remark

    Show marketing remark (467 chars)

    Welcome home to this cozy 2 bedroom, 1 bathroom condo featuring 1,056 sqft of inviting living space. Hardwood floors and a charming fireplace highlight the living room, perfect for relaxing evenings. Built in 1985, the home blends comfort and character with a practical layout. Residents enjoy access to a community pool and maintained common areas through the HOA. Ideally situated near Highway 78 in Stone Mountain, making commuting and daily conveniences a breeze.

16. 2026-02-24
    price $110,000 467-char remark

    Show marketing remark (467 chars)

    Welcome home to this cozy 2 bedroom, 1 bathroom condo featuring 1,056 sqft of inviting living space. Hardwood floors and a charming fireplace highlight the living room, perfect for relaxing evenings. Built in 1985, the home blends comfort and character with a practical layout. Residents enjoy access to a community pool and maintained common areas through the HOA. Ideally situated near Highway 78 in Stone Mountain, making commuting and daily conveniences a breeze.

17. 2026-02-16
    listed $115,000 New 467-char remark

    Show marketing remark (467 chars)

    Welcome home to this cozy 2 bedroom, 1 bathroom condo featuring 1,056 sqft of inviting living space. Hardwood floors and a charming fireplace highlight the living room, perfect for relaxing evenings. Built in 1985, the home blends comfort and character with a practical layout. Residents enjoy access to a community pool and maintained common areas through the HOA. Ideally situated near Highway 78 in Stone Mountain, making commuting and daily conveniences a breeze.

18. 2026-01-28
    historical
19. 2025-12-08
    status Back On Market
20. 2025-11-07
    status Under Contract
21. 2025-10-14
    listed $110,000 New
22. 1993-01-13
    soldstatus $29,000
23. 1991-11-19
    soldstatus $50,000
24. 1987-05-15
    soldstatus $53,000

ⓘ 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: $1,980 · $165/mo
• Projected year-2 tax: $1,980 · $165/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $21,360
• − Mortgage interest: −$5,546
• − Property taxes: −$1,980
• − Insurance: −$495
• − Repairs & maintenance: −$1,709
• − Management: −$1,709
• − HOA: −$3,600
• − Depreciation: −$2,880
• Taxable income: $3,442
• Est. tax owed @ 24.0%: −$826
• After-tax cash flow: $3,743/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 — Redan

• Score: 64/100
• State rank: #274
• US rank: #14766

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

• Census place: Redan, GA
• County: Dekalb County · 782,738 people
• City population: 29,279
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 29,240
• Household income: $70,325
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1106.0

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% White 5% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Swedish 1% Russian 1%
• Foreign-born: 11% · Canada
• Languages at home: 90% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 1%

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: ▼ -169.92%
• Current HPI: 206.5421
• Rent YoY: ▲ 3.72%
• 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

+86.8% since first listed

11 events — show timeline

• 2026-04-10 Price Changed $99,000 GAMLS
• 2026-03-12 Price Changed $105,000 GAMLS
• 2026-02-24 Price Changed $110,000 GAMLS
• 2026-02-16 Listed $115,000 GAMLS
• 2026-01-28 Listing Removed — GAMLS
• 2025-12-08 Relisted — GAMLS
• 2025-11-07 Pending — GAMLS
• 2025-10-14 Listed $110,000 GAMLS
• 1993-01-13 Sold (Public Records) $29,000 Public Records
• 1991-11-19 Sold (Public Records) $50,000 Public Records
• 1987-05-15 Sold (Public Records) $53,000 Public Records

Property tax history

+15.1%/yr

Latest (2025): $1,980 · +2.3% YoY. Source: county tax records.