1637 Cecilia Dr SE · Gresham Park, GA 30316

$149,900

2 bd · 1.0 ba · 919 sqft · SingleFamily public records · 1 Days on market

Built 1950 0.50 ac lot $163/sqft · 44% below area Est $268k · 44% 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 +21.2/30.0
• ARV discount +15.0/15.0
• 1% rule +7.4/10.0
• DSCR +6.8/10.0
• Livability +3.3/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss this incredible opportunity to own a charming bungalow situated on approximately half an acre, surrounded by mature hardwoods and lush landscaping that create a private, peaceful setting in the heart of the city. Conveniently located just minutes from East Atlanta Village, Downtown Atlanta, I-20, popular restaurants, boutiques, parks, and nightlife, this home offers the perfect blend of character, location, and value. Step onto the inviting front porch and into a spacious living room filled with natural light and featuring original hardwood floors that add timeless charm. The formal dining room provides the perfect space for hosting family gatherings and entertaining guests. The

Key facts

• Mature hardwoods
• Formal dining room
• Galley-style kitchen

Tags

• HALF AN ACRE
• MATURE HARDWOODS
• LUSH LANDSCAPING
• PRIVATE PEACEFUL SETTING
• FORMAL DINING ROOM
• GALLEY-STYLE KITCHEN

Property features AI

Finance

• HOA & community: Near schools; Near shopping; Nearby park

Exterior

• Parking: Driveway parking; 2 total parking spaces; Open parking available
• Utilities: Public water; Public sewer; 110 volt electric; Cable available; Electricity available; Natural gas available; Phone available; Sewer available; Water available
• Home design: Single-story home
• Construction: Frame construction with vinyl and wood siding; Composition roof; Block foundation; Resale condition
• Exterior features: Covered rear porch; Wood backyard fence

Interior

• Kitchen: Solid surface counters; Stained cabinets; Pantry; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level; Master bedroom on main level with split bedroom floor plan
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 1 full bathroom; Master bathroom with tub/shower combination
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: 9-foot ceilings on main level; No shared/common walls; Crawl space foundation access
• Laundry & utility: Laundry located in hall

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.0% vs local median 4.6% in Gresham Park — 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 66/100 on livability (#183 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B+; Watch: amenities F, commute F, health & safety 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.
• Zoned schools: Ronald E Mcnair Discover Learning Academy Elementary School (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 568 students, 100% FRL); Mcnair High School (math 2% / reading 5%, grade F, #413 of 424 statewide, top 99%, 768 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 4% at this address vs 24% district-wide (-19 pts) — the specific schools serving this property underperform the Dekalb County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.3%/yr); 461 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,900

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.24% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.20%
• DSCR: 1.28
• GRM: 6.7

CMA / ARV

• ARV (median comp): $267,675
• List price: $149,900
• Delta: -25.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1642 Cecilia Dr SE	0.04mi	3/1.0 (+1)	932 (+1%)	6mo	$149,900	$161	86
1951 Brannen Rd SE	0.16mi	2/1.0	816 (-11%)	7mo	$143,000	$175	68
1621 Cecilia Dr SE	0.04mi	3/1.0 (+1)	1,015 (+10%)	10mo	$165,000	$163	67
1670 Cecilia Dr SE	0.09mi	3/2.0 (+1)	1,032 (+12%)	4mo	$275,000	$266	63
1840 Brannen Rd SE	0.18mi	2/1.0	816 (-11%)	17mo	$238,000	$292	59

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 · 2.33% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-11,574
• Equity at exit: $22,351

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $3,303
• Equity at exit: $12,961

Cash invested: $41,972 (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 30316

• Rents YoY: 2.3%
• Active inventory: 461
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,863 high
• Mortgage (P&I): −$786
• Tax from tax record: −$406 /mo · $4,875/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $217

Break-even live

Break-even rent $1,588

Max offer price $149,900

Occupancy floor 83%

Sensitivity live

Price	-10% $302	-5% $259	+0% $217	+5% $174	+10% $132
Rent	-10% $70	-5% $143	+0% $217	+5% $290	+10% $364
Rate	-1.0pp $292	-0.5pp $255	base $217	+0.5pp $178	+1.0pp $138

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1670 Cecilia Dr SE Atlanta, GA	3.0	2.0	1032	$2,350	$2.28	44d	1	0.09mi
1438 E Bouldercrest Rd Atlanta, GA	1.0–3.0	1.0–2.0	967	$1,454	$1.50	0d	18	0.31mi
1624 Eastland Rd SE Atlanta, GA	2.0	1.0	875	$1,300	$1.49	22d	1	0.43mi
1930 Flat Shoals Rd SE Atlanta, GA	1.0–2.0	1.0–1.5	1045	$1,479	$1.42	6d	17	0.64mi
2163 Lilac Ln Decatur, GA	3.0	2.0	1107	$2,150	$1.94	44d	1	0.91mi
2205 Stockbridge Dr SE Atlanta, GA	3.0	2.0	1050	$1,500	$1.43	5d	1	0.92mi
1403 Custer Ave SE Atlanta, GA	2.0	1.0	891	$1,149	$1.29	0d	3	0.98mi
1403 Custer Ave SE Atlanta, GA	1.0–2.0	1.0	829	$1,283	$1.55	44d	8	0.98mi
2110 Cavanaugh Ave SE Atlanta, GA	2.0	1.0	816	$1,699	$2.08	25d	1	0.98mi
2480 Flat Shoals Rd Decatur, GA	1.0–3.0	1.0–2.0	1017	$1,699	$1.67	2d	23	1.07mi
2344 Ripplewater Dr SE Atlanta, GA	2.0	2.0	1022	$2,250	$2.20	44d	1	1.19mi
773 Fayetteville Rd SE Atlanta, GA	3.0	2.0	1085	$2,100	$1.94	44d	1	1.26mi
2335 Scotty Cir Decatur, GA	3.0	1.0	1010	$1,495	$1.48	44d	1	1.28mi
1624 Terry Mill Rd SE Atlanta, GA	2.0	1.0	768	$1,700	$2.21	25d	1	1.28mi
2126 Rexford Dr Decatur, GA	3.0	1.5	1092	$1,400	$1.28	44d	1	1.29mi
2000 Bouldercrest Rd Atlanta, GA	1.0–3.0	1.0–2.0	1050	$1,336	$1.27	0d	18	1.33mi
2000 Bouldercrest Rd Atlanta, GA	1.0–2.0	1.0–2.0	925	$1,520	$1.64	44d	3	1.33mi
2078 Parker Ranch Rd SE Atlanta, GA	3.0	1.0	1014	$1,650	$1.63	25d	1	1.42mi
1296 Moreland Ave SE Atlanta, GA	1.0–2.0	1.0–2.0	1000	$2,135	$2.13	0d	22	1.42mi
1316 Moreland Ave SE Atlanta, GA	2.0	2.0	866	$2,026	$2.34	44d	1	1.43mi
1986 Cogar Dr Decatur, GA	2.0	1.0	750	$1,300	$1.73	44d	1	1.43mi
1881 2nd Ave Decatur, GA	3.0	1.0–2.5	1010	$3,007	$2.98	3d	60	1.48mi
2911 Gresham Rd SE Atlanta, GA	3.0	1.0	960	$1,700	$1.77	44d	1	1.50mi

Listing history 29 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   pricestatusdays on marketlisting id $149,900 Active 1 DOM
3. 2026-05-05
   historical
4. 2026-05-05
   historical
5. 2026-04-27
   price $200,000
6. 2026-04-27
   price $200,000
7. 2026-04-21
   listed $215,000 New
8. 2026-04-21
   listed $215,000 Active
9. 2022-03-02
   soldstatus $234,500
10. 2022-02-24
    soldstatus $234,500 Closed
11. 2022-02-24
    soldstatus $234,500 Sold
12. 2022-01-09
    status Pending
13. 2022-01-09
    status Under Contract
14. 2021-12-29
    status Active
15. 2021-12-26
    historical
16. 2021-12-26
    status Active
17. 2021-12-22
    historical Active Under Contract
18. 2021-12-22
    status Pending
19. 2021-12-17
    status Under Contract
20. 2021-12-16
    historical Active Under Contract
21. 2021-12-16
    historical Active Under Contract
22. 2021-12-11
    price $240,000
23. 2021-12-10
    price $240,000
24. 2021-11-21
    listed $250,000 Active
25. 2021-11-21
    listed $250,000 New
26. 2006-08-09
    soldstatus $137,000
27. 2006-07-26
    soldstatus $90,000
28. 1996-01-04
    soldstatus $39,400
29. 1993-06-18
    soldstatus $41,000

ⓘ 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: $4,875 · $406/mo
• Projected year-2 tax: $4,875 · $406/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 5/10 Major 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,351
• − Mortgage interest: −$8,397
• − Property taxes: −$4,875
• − Insurance: −$750
• − Repairs & maintenance: −$1,788
• − Management: −$1,788
• − Depreciation: −$4,361
• Taxable income: $393
• Est. tax owed @ 24.0%: −$94
• After-tax cash flow: $2,506/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 — Gresham Park

• Score: 66/100
• State rank: #183
• US rank: #11376

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gresham Park, GA
• County: Dekalb County · 782,738 people
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 35,107
• Household income: $102,891
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1897.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 47% White 36% Hispanic / Latino 8% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 93% 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: ▼ -415.92%
• Current HPI: 318.454
• Rent YoY: ▲ 2.33%
• 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

+265.6% since first listed

28 events — show timeline

• 2026-06-17 Listed $149,900 FMLS
• 2026-05-05 Listing Removed — GAMLS
• 2026-05-05 Listing Removed — FMLS
• 2026-04-27 Price Changed $200,000 FMLS
• 2026-04-27 Price Changed $200,000 GAMLS
• 2026-04-21 Listed $215,000 GAMLS
• 2026-04-21 Listed $215,000 FMLS
• 2022-03-02 Sold (Public Records) $234,500 Public Records
• 2022-02-24 Sold (MLS) $234,500 GAMLS
• 2022-02-24 Sold (MLS) $234,500 FMLS
• 2022-01-09 Pending — FMLS
• 2022-01-09 Pending — GAMLS
• 2021-12-29 Relisted — GAMLS
• 2021-12-26 Listing Removed — GAMLS
• 2021-12-26 Relisted — FMLS
• 2021-12-22 Contingent — FMLS
• 2021-12-22 Pending — FMLS
• 2021-12-17 Pending — GAMLS
• 2021-12-16 Contingent — FMLS
• 2021-12-16 Contingent — GAMLS
• 2021-12-11 Price Changed $240,000 FMLS
• 2021-12-10 Price Changed $240,000 GAMLS
• 2021-11-21 Listed $250,000 GAMLS
• 2021-11-21 Listed $250,000 FMLS
• 2006-08-09 Sold (Public Records) $137,000 Public Records
• 2006-07-26 Sold (Public Records) $90,000 Public Records
• 1996-01-04 Sold (Public Records) $39,400 Public Records
• 1993-06-18 Sold (Public Records) $41,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $4,875 · -1.5% YoY. Source: county tax records.