6203 Castlewood Dr · Morrow, GA 30260

$110,000

3 bd · 1.0 ba · 1,285 sqft · SingleFamily public records · 163 Days on market

Built 1968 0.30 ac lot $86/sqft · 52% below area

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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
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity in Morrow! This .2975-acre lot at 6203 Castlewood Dr offers an incredible chance to build new in a well-established residential area. While the previous home experienced a kitchen fire and most of the structure is no longer standing, this creates the perfect clean-slate opportunity for investors, builders, or homeowners looking to design a brand-new home from the ground up. Zoned RS110, the property is ideal for single-family residential construction, giving you flexibility for your future plans. Conveniently located just off Lake Harbin Rd and Maddox Rd, you'll enjoy quick access to schools, shopping, and major highways. This is your chance to bring new life to a quiet neighborhood with tons of potential. Property will be sold AS IS. For showings: No Lockbox. Enter at your own risk.

Key facts

• Zoned rs110
• Quiet neighborhood
• 2975 acre lot

Tags

• 2975 ACRE LOT
• ZONED RS110
• QUICK ACCESS TO SCHOOLS
• QUICK ACCESS TO SHOPPING
• QUICK ACCESS TO MAJOR HIGHWAYS
• QUIET NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $723 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 4.9% in Morrow — 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 65/100 on livability (#229 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities D, employment D, schools 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 soft (-1.0%/yr); 173 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• This rent runs 40% of the median local income ($53k/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 $761 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $110k implies a 400% gain — meaningful room to come down on a strong offer.

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 $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.60% ✓
• Cap rate: 14.18%
• Cash-on-cash: 28.18%
• DSCR: 2.25
• GRM: 5.2

CMA / ARV

• ARV (median comp): $230,000
• List price: $110,000
• Delta: -52.17%
• 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
2379 Prestige Sq	0.18mi	3/2.0	1,209 (-6%)	0mo	$232,000	$192	77
6155 Landover Cir	0.09mi	3/2.0	1,434 (+12%)	4mo	$150,000	$105	69
6075 Tabor Ave	0.51mi	3/1.5	1,312 (+2%)	3mo	$201,500	$154	68
6413 Maddox Rd	0.42mi	3/2.0	1,267 (-1%)	10mo	$164,400	$130	66
6071 Deerfield Ct	0.26mi	3/2.0	1,368 (+6%)	11mo	$265,000	$194	64
6200 Fieldcrest Dr	0.18mi	3/2.0	1,100 (-14%)	2mo	$228,000	$207	62
2609 Lake Harbin Rd	0.45mi	3/1.5	1,216 (-5%)	9mo	$187,000	$154	61
6268 Mount Zion Blvd	0.54mi	3/2.0	1,188 (-8%)	12mo	$242,000	$204	48
6064 Monica Dr	0.38mi	3/2.0	1,460 (+14%)	12mo	$205,000	$140	46
2539 Sparta Dr	0.61mi	4/2.0 (+1)	1,390 (+8%)	10mo	$195,000	$140	40
2436 Rex Rd	0.68mi	3/2.0	1,440 (+12%)	8mo	$240,000	$167	38
2711 Teal Landing Dr	0.56mi	3/3.0	1,444 (+12%)	11mo	$229,900	$159	36

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.1%
• Equity multiple: 1.75×
• Total profit: $23,061
• Equity at exit: $16,401

10-year hold

• IRR: 25.4%
• Equity multiple: 2.93×
• Total profit: $59,362
• Equity at exit: $9,511

Cash invested: $30,800 (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 30260

• Home prices YoY: -33.8%
• Rents YoY: -1.0%
• Active inventory: 173
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,758 high
• Mortgage (P&I): −$577
• Tax from tax record: −$43 /mo · $518/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $723

Break-even live

Break-even rent $843

Max offer price $110,000

Occupancy floor 54%

Sensitivity live

Price	-10% $786	-5% $754	+0% $723	+5% $692	+10% $661
Rent	-10% $584	-5% $654	+0% $723	+5% $793	+10% $862
Rate	-1.0pp $779	-0.5pp $751	base $723	+0.5pp $695	+1.0pp $666

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6043 Deerfield Ct Morrow, GA	3.0	2.0	1370	$1,741	$1.27	0d	1	0.31mi
6010 Fairfield Dr Morrow, GA	3.0	1.5	1246	$1,841	$1.48	4d	1	0.33mi
6068 Monica Dr Morrow, GA	3.0	2.0	1210	$1,700	$1.40	23d	1	0.40mi
2588 Monica Way Morrow, GA	3.0	2.0	1706	$1,650	$0.97	4d	1	0.46mi
6437 Maddox Rd Morrow, GA	3.0	2.0	1694	$1,818	$1.07	25d	1	0.48mi
5958 Sherwood Pl Ellenwood, GA	2.0	2.5	1468	$995	$0.68	25d	1	0.48mi
5958 Sherwood Pl Unit 5958 Ellenwood, GA	2.0	2.5	1468	$995	$0.68	45d	1	0.48mi
2445 Rex Rd Ellenwood, GA	1.0–3.0	1.0–2.0	1149	$1,569	$1.37	0d	10	0.49mi
6424 Monica Dr Morrow, GA	3.0	2.0	1125	$1,400	$1.24	45d	1	0.57mi
2690 Lake Harbin Rd Morrow, GA	3.0	1.0	980	$1,653	$1.69	0d	1	0.60mi
5868 Dan Dr Ellenwood, GA	3.0	2.0	1854	$2,300	$1.24	45d	1	0.68mi
6560 Maddox Rd Morrow, GA	3.0	2.0	1350	$1,781	$1.32	14d	1	0.70mi
2128 Baden Ct #1 Morrow, GA	3.0	1.5	1600	$1,450	$0.91	0d	1	0.74mi
6572 Sleepy Hollow Ln Morrow, GA	2.0	1.5	1152	$1,400	$1.22	25d	1	0.76mi
6593 Sleepy Hollow Ln Morrow, GA	2.0	2.0	1152	$1,550	$1.35	45d	1	0.77mi
6596 Fleming Rd Morrow, GA	4.0	2.5	1847	$1,873	$1.01	22d	1	0.78mi
6596 Fleming Rd Morrow, GA	4.0	2.5	1847	$1,873	$1.01	6d	1	0.78mi
6595 Mount Zion Blvd Morrow, GA	1.0–3.0	1.0–2.0	1175	$1,749	$1.49	0d	11	0.78mi
5915 Trammell Rd Morrow, GA	3.0	2.5	1521	$1,423	$0.94	0d	5	0.82mi
6137 Harvard Ct Morrow, GA	3.0	2.0	1320	$1,531	$1.16	0d	1	0.84mi
6234 Culver Dr Morrow, GA	4.0	3.0	1748	$2,350	$1.34	6d	1	0.85mi
5731 Buck Ct Ellenwood, GA	3.0	2.0	1242	$1,525	$1.23	14d	1	0.87mi
5720 Buck Ct Ellenwood, GA	3.0	2.0	1232	$1,850	$1.50	25d	1	0.89mi
6511 Mill Ct Morrow, GA	3.0	2.0	1454	$1,881	$1.29	45d	1	0.89mi
6655 Mount Zion Blvd Morrow, GA	2.0–3.0	2.0	1102	$1,499	$1.36	14d	7	0.89mi
1932 Carla Dr Morrow, GA	3.0	2.0	1324	$1,730	$1.31	3d	1	0.91mi
2260 Hammond Ct Ellenwood, GA	3.0	2.0	1248	$1,850	$1.48	45d	1	0.94mi
5704 Wesson Dr Ellenwood, GA	3.0	2.0	1480	$1,710	$1.16	45d	1	0.95mi
5762 Northspring Dr Ellenwood, GA	3.0	2.0	1577	$1,705	$1.08	14d	1	0.95mi
2958 Stone Creek Dr Rex, GA	3.0	2.0	1506	$1,800	$1.20	14d	1	1.07mi
2603 Old Rex Morrow Rd Ellenwood, GA	4.0	3.0	1800	$2,510	$1.39	45d	1	1.07mi
2617 Old Rex Morrow Rd Ellenwood, GA	4.0	3.0	1800	$1,950	$1.08	14d	1	1.09mi
6498 Menlo Way Rex, GA	4.0	2.0	1246	$1,895	$1.52	25d	1	1.21mi
6478 Bobolink Ct Rex, GA	4.0	2.0	1626	$1,911	$1.18	21d	1	1.26mi
6494 Bobolink Ct Rex, GA	3.0	2.0	1310	$1,630	$1.24	0d	1	1.27mi
2866 Panther Ct Rex, GA	3.0	2.0	1344	$1,780	$1.32	45d	1	1.29mi
1885 Harper Dr Morrow, GA	1.0–2.0	1.0	1025	$1,415	$1.38	4d	6	1.30mi
2861 Panther Ct Rex, GA	3.0	2.0	1296	$1,680	$1.30	3d	1	1.33mi
6451 Carolyn Ct Rex, GA	3.0	2.0	1523	$1,665	$1.09	45d	1	1.33mi
2941 Partin Pl Ellenwood, GA	4.0	2.5	1874	$2,155	$1.15	16d	1	1.35mi

Listing history 26 events

1. 2026-06-21
   days on market $110,000 Active 163 DOM
2. 2026-06-18
   days on market $110,000 Active 160 DOM
3. 2026-06-17
   days on market $110,000 Active 159 DOM
4. 2026-06-16
   days on market $110,000 Active 158 DOM
5. 2026-06-15
   days on market $110,000 Active 157 DOM
6. 2026-06-13
   days on market $110,000 Active 155 DOM
7. 2026-06-09
   days on market $110,000 Active 151 DOM
8. 2026-06-08
   days on market $110,000 Active 150 DOM
9. 2026-06-07
   days on market $110,000 Active 149 DOM
10. 2026-06-04
    days on market $110,000 Active 146 DOM
11. 2026-06-03
    days on market $110,000 Active 145 DOM
12. 2026-06-02
    days on market $110,000 Active 144 DOM
13. 2026-06-01
    days on market $110,000 Active 143 DOM
14. 2026-05-31
    days on market $110,000 Active 142 DOM
15. 2026-04-29
    price $110,000 819-char remark

    Show marketing remark (825 chars)

    Great Opportunity in Morrow! This .2975-acre lot at 6203 Castlewood Dr offers an incredible chance to build new in a well-established residential area. While the previous home experienced a kitchen fire and most of the structure is no longer standing, this creates the perfect clean-slate opportunity for investors, builders, or homeowners looking to design a brand-new home from the ground up. Zoned RS110, the property is ideal for single-family residential construction, giving you flexibility for your future plans. Conveniently located just off Lake Harbin Rd and Maddox Rd, you’ll enjoy quick access to schools, shopping, and major highways. This is your chance to bring new life to a quiet neighborhood with tons of potential. Property will be sold AS IS. For showings: No Lockbox. Enter at your own risk.

16. 2026-04-29
    price $110,000 825-char remark

    Show marketing remark (825 chars)

    Great Opportunity in Morrow! This .2975-acre lot at 6203 Castlewood Dr offers an incredible chance to build new in a well-established residential area. While the previous home experienced a kitchen fire and most of the structure is no longer standing, this creates the perfect clean-slate opportunity for investors, builders, or homeowners looking to design a brand-new home from the ground up. Zoned RS110, the property is ideal for single-family residential construction, giving you flexibility for your future plans. Conveniently located just off Lake Harbin Rd and Maddox Rd, you’ll enjoy quick access to schools, shopping, and major highways. This is your chance to bring new life to a quiet neighborhood with tons of potential. Property will be sold AS IS. For showings: No Lockbox. Enter at your own risk.

17. 2026-01-05
    listed $120,000 New 819-char remark

    Show marketing remark (825 chars)

    Great Opportunity in Morrow! This .2975-acre lot at 6203 Castlewood Dr offers an incredible chance to build new in a well-established residential area. While the previous home experienced a kitchen fire and most of the structure is no longer standing, this creates the perfect clean-slate opportunity for investors, builders, or homeowners looking to design a brand-new home from the ground up. Zoned RS110, the property is ideal for single-family residential construction, giving you flexibility for your future plans. Conveniently located just off Lake Harbin Rd and Maddox Rd, you’ll enjoy quick access to schools, shopping, and major highways. This is your chance to bring new life to a quiet neighborhood with tons of potential. Property will be sold AS IS. For showings: No Lockbox. Enter at your own risk.

18. 2026-01-05
    listed $120,000 Active 825-char remark

    Show marketing remark (825 chars)

    Great Opportunity in Morrow! This .2975-acre lot at 6203 Castlewood Dr offers an incredible chance to build new in a well-established residential area. While the previous home experienced a kitchen fire and most of the structure is no longer standing, this creates the perfect clean-slate opportunity for investors, builders, or homeowners looking to design a brand-new home from the ground up. Zoned RS110, the property is ideal for single-family residential construction, giving you flexibility for your future plans. Conveniently located just off Lake Harbin Rd and Maddox Rd, you’ll enjoy quick access to schools, shopping, and major highways. This is your chance to bring new life to a quiet neighborhood with tons of potential. Property will be sold AS IS. For showings: No Lockbox. Enter at your own risk.

19. 2021-03-05
    soldstatus $22,000 Sold
20. 2021-02-21
    status Under Contract
21. 2021-02-19
    listed $30,900 New
22. 2018-07-30
    soldstatus $117,000
23. 1995-08-30
    soldstatus $51,900
24. 1995-08-30
    soldstatus $51,900
25. 1992-04-08
    soldstatus $50,900
26. 1983-12-13
    soldstatus $36,700

ⓘ 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: $518 · $43/mo
• Projected year-2 tax: $1,012 · $84/mo
• Expected delta: +$494/yr (+$41/mo · 95.4%)

ⓘ 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 6/10 Major 7 d/yr ≥105°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: $21,102
• − Mortgage interest: −$6,162
• − Property taxes: −$518
• − Insurance: −$550
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$3,200
• Taxable income: $7,296
• Est. tax owed @ 24.0%: −$1,751
• After-tax cash flow: $6,929/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 — Morrow

• Score: 65/100
• State rank: #229
• US rank: #13314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clayton County · 230,153 people
• City population: 28,693
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 28,693
• Household income: $52,666
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 1956.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Black 50% Asian 20% Hispanic / Latino 19% Two or more races 7% White 7%
• Hispanic origin (detail): Mexican 11% Dominican 1%
• Foreign-born: 24% · Vietnam, Canada, South Korea
• Languages at home: 63% English-only · Spanish 17% Vietnamese 16% Other Asian/Pacific 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: ▼ -98.24%
• Current HPI: 192.3741
• Rent YoY: ▼ -1.00%
• 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

+199.7% since first listed

12 events — show timeline

• 2026-04-29 Price Changed $110,000 GAMLS
• 2026-04-29 Price Changed $110,000 FMLS
• 2026-01-05 Listed $120,000 FMLS
• 2026-01-05 Listed $120,000 GAMLS
• 2021-03-05 Sold (MLS) $22,000 GAMLS
• 2021-02-21 Pending — GAMLS
• 2021-02-19 Listed $30,900 GAMLS
• 2018-07-30 Sold (Public Records) $117,000 Public Records
• 1995-08-30 Sold (Public Records) $51,900 Public Records
• 1995-08-30 Sold (Public Records) $51,900 Public Records
• 1992-04-08 Sold (Public Records) $50,900 Public Records
• 1983-12-13 Sold (Public Records) $36,700 Public Records

Property tax history

-4.8%/yr

Latest (2025): $518 · -1.2% YoY. Source: county tax records.