4990 Mountain Springs Way · Stone Mountain, GA 30083

$345,000

4 bd · 4.0 ba · — sqft · MultiFamily · 76 Days on market

Built 1980 Good condition 0.34 ac lot ↓ 26% 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 +14.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +2.8/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment opportunity duplex with high ROI potential. This fully renovated duplex features 2 bedrooms and 2 full size bathrooms in each 1100 sq ft unit (4990/4992). Tenants in charged of all utilities and lawn care. Both units are occupied by long-term tenants for 3+ years, with leases transferable to the new owner, offering immediate rental income.

Key facts

• 0.34 acre lot
• Built 1980
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $345k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $45 ($540/yr) — positive. Per door: $23/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $308k (10.9% below list).
• Recommended offer: $308k (10.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.1% in Stone Mountain — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• At $3,075/mo this rent would consume 67% of the median local household income ($55k/yr) (locally 3574% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($324k) 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $307,500 (10.9% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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?
7. 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?
8. 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?
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: 0.89% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.56%
• DSCR: 1.02
• GRM: 9.3

CMA / ARV

No comps found within radius.

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4990 Mountain Springs Way	0.00mi	4/4.0	—	0mo	$320,000	—	87
4955 Mountain Springs Way	0.07mi	4/4.0	—	10mo	$275,000	—	76

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.40×
• Total profit: $-58,133
• Equity at exit: $51,441

10-year hold

• IRR: -12.8%
• Equity multiple: 0.31×
• Total profit: $-67,136
• Equity at exit: $29,829

Cash invested: $96,600 (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: 18.7×

Monthly cashflow live

• Estimated rent: $3,075 high
• Mortgage (P&I): −$1,809
• Tax est. 1.5%: −$431 /mo · $5,175/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $45

Break-even live

Break-even rent $3,018

Max offer price $345,000

Occupancy floor 94%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,076
Total (2 units)			$3,075

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
967 Pine Roc Dr Stone Mountain, GA	3.0	2.0	1206	$1,900	$1.58	10d	1	0.27mi
5100 W Mountain St Stone Mountain, GA	1.0–3.0	1.0–2.0	1150	$1,484	$1.29	3d	11	0.31mi
837 Parkstone Dr Stone Mountain, GA	3.0	2.0	—	$1,795	—	44d	1	0.32mi
5025 Brittany Dr Stone Mountain, GA	3.0	3.0	—	$1,845	—	4d	1	0.33mi
5025 Brittany Dr Stone Mountain, GA	3.0	2.5	1484	$1,845	$1.24	13d	1	0.33mi
6097 Memorial Dr Stone Mountain, GA	2.0–3.0	1.0–2.0	1123	$1,671	$1.49	3d	9	0.33mi
1075 N Hairston Rd Stone Mountain, GA	1.0–3.0	1.0–2.0	992	$1,540	$1.55	5d	12	0.46mi
1073 Thornwoode Ln Stone Mountain, GA	3.0	2.5	1235	$697	$0.56	22d	1	0.49mi
4959 Demere Ct Stone Mountain, GA	3.0	2.0	1695	$2,000	$1.18	13d	1	0.60mi
4900 Central Dr Stone Mountain, GA	1.0–3.0	1.0–2.0	1100	$1,725	$1.57	1d	15	0.60mi
1010 Mariners Ct Stone Mountain, GA	3.0	2.0	1739	$1,475	$0.85	44d	1	0.64mi
4996 Sheila Ln Stone Mountain, GA	4.0	2.0	1450	$1,890	$1.30	2d	1	0.68mi
4923 Sheila Ln Stone Mountain, GA	3.0	2.0	1266	$1,200	$0.95	44d	1	0.71mi
1047 Ridge Ave Stone Mountain, GA	3.0	1.0	1402	$2,150	$1.53	24d	1	0.80mi
1 Chatfield Dr Stone Mountain, GA	1.0–3.0	1.0–2.5	1060	$1,565	$1.48	2d	20	0.84mi
827 San Miguel Dr Stone Mountain, GA	3.0	2.0	1272	$1,550	$1.22	17d	1	0.88mi
1259 Old Countryside Cir Stone Mountain, GA	3.0	2.0	1309	$1,795	$1.37	44d	1	0.91mi
1311 Old Countryside Cir Stone Mountain, GA	3.0	2.5	1381	$2,101	$1.52	5d	1	0.94mi
1305 Old Countryside Cir W Stone Mountain, GA	3.0	2.0	1132	$1,719	$1.52	17d	1	1.03mi
768 Fourth St Stone Mountain, GA	3.0	2.0	1200	$2,100	$1.75	5d	1	1.08mi
4840 Hairston Park Sq Stone Mountain, GA	3.0	2.5	1560	$1,845	$1.18	44d	1	1.10mi
4840 Hairston Park Sq Stone Mountain, GA	3.0	2.5	1560	$1,795	$1.15	3d	1	1.10mi
4832 Hairston Park Sq Stone Mountain, GA	3.0	2.5	1560	$1,800	$1.15	21d	1	1.11mi
5351 Ridgemere Ct Stone Mountain, GA	3.0	2.5	1160	$1,465	$1.26	5d	1	1.11mi
5353 Ridgemere Ct Stone Mountain, GA	3.0	2.5	1160	$1,465	$1.26	5d	1	1.12mi
1150 Rankin St Stone Mountain, GA	2.0–3.0	2.5	1437	$1,850	$1.29	44d	2	1.12mi
4431 Dallis Ct Stone Mountain, GA	3.0	2.0	2184	$1,975	$0.90	24d	1	1.15mi
1313 Stone Mill Way Stone Mountain, GA	1.0–4.0	1.0–2.5	1004	$1,875	$1.87	15d	12	1.20mi
697 Pepperwood Trl Stone Mountain, GA	3.0	2.0	1576	$1,650	$1.05	44d	1	1.22mi
200 Summit Lake Dr Stone Mountain, GA	3.0	2.0	1486	$1,809	$1.22	22d	1	1.24mi
5370 Zachary Dr Stone Mountain, GA	4.0	2.0	1556	$1,150	$0.74	24d	1	1.24mi
779 Pepperwood Trl Stone Mountain, GA	3.0	2.0	1458	$2,045	$1.40	5d	1	1.27mi
1405 Stone Mill Trce Stone Mountain, GA	3.0	1.5	2304	$1,800	$0.78	44d	1	1.30mi
1248 Park Blvd Stone Mountain, GA	3.0	2.0	1350	$1,880	$1.39	44d	1	1.35mi
5509 Stonehaven Way Stone Mountain, GA	4.0	3.0	1635	$1,899	$1.16	22d	1	1.48mi

Listing history 17 events

1. 2026-06-07
   status $345,000 Pending 76 DOM
2. 2026-06-04
   days on market $345,000 Active 76 DOM
3. 2026-06-03
   days on market $345,000 Active 75 DOM
4. 2026-06-02
   days on market $345,000 Active 74 DOM
5. 2026-06-01
   days on market $345,000 Active 73 DOM
6. 2026-05-31
   days on market $345,000 Active 72 DOM
7. 2026-05-12
   price $340,000 358-char remark

   Show marketing remark (358 chars)

   Great investment opportunity duplex with high ROI potential. This fully renovated duplex features 2 bedrooms and 2 full size bathrooms in each 1100 sq ft unit (4990/4992). Tenants in charged of all utilities and lawn care. Both units are occupied by long-term tenants for 3+ years, with leases transferable to the new owner, offering immediate rental income.

8. 2026-05-06
   listed $345,000 New 358-char remark

   Show marketing remark (358 chars)

   Great investment opportunity duplex with high ROI potential. This fully renovated duplex features 2 bedrooms and 2 full size bathrooms in each 1100 sq ft unit (4990/4992). Tenants in charged of all utilities and lawn care. Both units are occupied by long-term tenants for 3+ years, with leases transferable to the new owner, offering immediate rental income.

9. 2026-04-26
   price $345,000 358-char remark

   Show marketing remark (358 chars)

   Great investment opportunity duplex with high ROI potential. This fully renovated duplex features 2 bedrooms and 2 full size bathrooms in each 1100 sq ft unit (4990/4992). Tenants in charged of all utilities and lawn care. Both units are occupied by long-term tenants for 3+ years, with leases transferable to the new owner, offering immediate rental income.

10. 2026-04-12
    price $350,000 358-char remark

    Show marketing remark (358 chars)

    Great investment opportunity duplex with high ROI potential. This fully renovated duplex features 2 bedrooms and 2 full size bathrooms in each 1100 sq ft unit (4990/4992). Tenants in charged of all utilities and lawn care. Both units are occupied by long-term tenants for 3+ years, with leases transferable to the new owner, offering immediate rental income.

11. 2026-04-06
    price $375,000 358-char remark

    Show marketing remark (358 chars)

    Great investment opportunity duplex with high ROI potential. This fully renovated duplex features 2 bedrooms and 2 full size bathrooms in each 1100 sq ft unit (4990/4992). Tenants in charged of all utilities and lawn care. Both units are occupied by long-term tenants for 3+ years, with leases transferable to the new owner, offering immediate rental income.

12. 2026-03-20
    listed $400,000 Active 358-char remark

    Show marketing remark (358 chars)

    Great investment opportunity duplex with high ROI potential. This fully renovated duplex features 2 bedrooms and 2 full size bathrooms in each 1100 sq ft unit (4990/4992). Tenants in charged of all utilities and lawn care. Both units are occupied by long-term tenants for 3+ years, with leases transferable to the new owner, offering immediate rental income.

13. 2025-12-09
    historical
14. 2025-11-11
    price $400,000
15. 2025-10-20
    price $425,000
16. 2025-10-08
    price $450,000
17. 2025-09-24
    listed $459,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 6 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $36,900
• − Mortgage interest: −$19,325
• − Property taxes: −$5,175
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,952
• − Management: −$2,952
• − Depreciation: −$10,036
• Taxable loss: −$5,266
• Est. tax savings @ 24.0%: +$1,264
• After-tax cash flow: $1,804/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This fully renovated and move-in-ready duplex offers a great investment opportunity with high ROI potential.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics
• Both Updating the flooring with new tiles or hardwood — New flooring can improve the overall look and feel of the home
• Both Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters
• Both Installing smart home devices — Smart home devices can increase the home's value and appeal to tech-savvy buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Updating the flooring with new tiles or hardwood — New flooring can improve the overall look and feel of the home ↑
• Both Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters ↑
• Both Installing smart home devices — Smart home devices can increase the home's value and appeal to tech-savvy buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

-25.9% since first listed

11 events — show timeline

• 2026-05-12 Price Changed $340,000 GAMLS
• 2026-05-06 Listed $345,000 GAMLS
• 2026-04-26 Price Changed $345,000 FMLS
• 2026-04-12 Price Changed $350,000 FMLS
• 2026-04-06 Price Changed $375,000 FMLS
• 2026-03-20 Listed $400,000 FMLS
• 2025-12-09 Listing Removed — FMLS
• 2025-11-11 Price Changed $400,000 FMLS
• 2025-10-20 Price Changed $425,000 FMLS
• 2025-10-08 Price Changed $450,000 FMLS
• 2025-09-24 Listed $459,000 FMLS