3101 Par Three Way · Stonecrest, GA 30038

$95,000

2 bd · 2.0 ba · 1,202 sqft · Condo public records · 129 Days on market

Built 2003 $79/sqft · 20% below area Est $119k · 20% under $208/mo HOA · 14% 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 +26.2/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +8.9/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

Key facts

• $208 HOA
• 2 parking spots
• Built 2003

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.1% in Stonecrest — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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 fast (+4.6%/yr); 320 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $657 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 + 4.6% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% 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 $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 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. 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.
7. 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.
8. 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: 1.56% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.95%
• DSCR: 1.49
• GRM: 5.3

CMA / ARV

• ARV (median comp): $118,712
• List price: $95,000
• Delta: -19.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.6% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $2,676
• Equity at exit: $14,165

10-year hold

• IRR: 14.1%
• Equity multiple: 2.25×
• Total profit: $33,275
• Equity at exit: $8,214

Cash invested: $26,600 (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 30038

• Home prices YoY: -28.0%
• Rents YoY: 4.6%
• Active inventory: 320
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,481 high
• Mortgage (P&I): −$498
• Tax from tax record: −$182 /mo · $2,181/yr
• Insurance: −$40
• HOA: −$208
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $243

Break-even live

Break-even rent $1,174

Max offer price $95,000

Occupancy floor 79%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2102 Par Three Way Lithonia, GA	3.0	2.0	1202	$1,500	$1.25	5d	1	0.02mi
1202 Par Three Way Lithonia, GA	2.0	2.0	1202	$1,200	$1.00	19d	1	0.04mi
5796 Trent Walk Dr Lithonia, GA	3.0	2.0	1350	$1,570	$1.16	5d	1	0.09mi
5926 Trent Jones Way Lithonia, GA	2.0	2.5	1122	$1,200	$1.07	17d	1	0.09mi
5812 Trent Walk Dr Unit 1 Stonecrest, GA	3.0	2.0	1350	$1,600	$1.19	44d	1	0.09mi
5876 Trent Walk Dr Lithonia, GA	2.0	1.5	1084	$1,550	$1.43	5d	1	0.22mi
4103 Fairington Club Dr Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	44d	1	0.25mi
4101 Fairington Club Dr Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	44d	1	0.26mi
3021 Fields Dr Lithonia, GA	3.0	2.5	1450	$1,595	$1.10	24d	1	0.28mi
3064 Parc Lorraine Unit 1 Stonecrest, GA	2.0	2.0	1280	$1,195	$0.93	4d	1	0.32mi
2932 Parc Lorraine Lithonia, GA	2.0	2.0	1280	$1,399	$1.09	24d	1	0.37mi
13101 Fairington Ridge Cir Unit 101 Stonecrest, GA	3.0	2.0	1292	$1,400	$1.08	24d	1	0.39mi
13202 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,650	$1.28	17d	1	0.39mi
2940 Parc Lorraine Unit 1 Stonecrest, GA	2.0	2.0	1072	$1,195	$1.11	44d	1	0.39mi
14302 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,650	$1.28	44d	1	0.40mi
14204 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,550	$1.20	44d	1	0.41mi
2102 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,545	$1.20	10d	1	0.43mi
5201 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1226	$1,645	$1.34	44d	1	0.44mi
5104 Fairington Ridge Cir Unit 5104 Stonecrest, GA	3.0	2.0	1292	$1,400	$1.08	24d	1	0.44mi
8202 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1300	$1,900	$1.46	44d	1	0.44mi
7104 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	3d	1	0.44mi
89 Tiburon Ct Lithonia, GA	2.0	1.5	1250	$1,450	$1.16	13d	1	0.45mi
2204 Fairington Village Dr Lithonia, GA	3.0	2.0	1292	$1,295	$1.00	24d	1	0.47mi
2204 Fairington Village Dr Lithonia, GA	3.0	2.0	1292	$1,295	$1.00	21d	1	0.47mi
6301 Fairington Village Dr Stonecrest, GA	3.0	2.0	1300	$1,900	$1.46	5d	1	0.47mi
3127 Fields Dr Lithonia, GA	2.0	2.5	1206	$1,800	$1.49	19d	1	0.49mi
2898 Norfair Loop Lithonia, GA	2.0	1.5	1240	$1,506	$1.21	5d	1	0.52mi
5052 Chupp Way Cir Lithonia, GA	2.0	2.5	1150	$1,580	$1.37	44d	1	0.55mi
5044 Chupp Way Cir Lithonia, GA	3.0	2.5	1212	$1,395	$1.15	22d	1	0.56mi
100 Walden Brook Dr Stonecrest, GA	1.0–3.0	1.0–2.0	1132	$1,308	$1.16	2d	15	0.74mi
5654 Bradley Cir Lithonia, GA	2.0	1.0	1428	$1,673	$1.17	5d	1	0.74mi
5850 Hillandale Dr Lithonia, GA	1.0–3.0	1.0–2.0	1119	$1,436	$1.28	2d	11	0.77mi
5588 Fairington Pl Lithonia, GA	2.0	1.0	1260	$1,295	$1.03	44d	1	0.80mi
421 Meadowood Dr Stonecrest, GA	2.0–3.0	1.5–2.0	1328	$1,099	$0.83	24d	18	0.85mi
6012 Regent Mnr Lithonia, GA	2.0	2.0	1200	$1,450	$1.21	44d	1	0.96mi
6250 Hillandale Dr Lithonia, GA	1.0–4.0	1.0–2.0	1121	$1,325	$1.18	44d	1	1.00mi
46 Le Parc Fontaine Lithonia, GA	2.0	2.0	1376	$1,350	$0.98	44d	1	1.00mi
180 Rue Fontaine Lithonia, GA	1.0	1.0	1100	$1,255	$1.14	44d	1	1.08mi
129 Rue Fontaine Lithonia, GA	2.0	2.0	1376	$1,450	$1.05	22d	1	1.08mi
6256 Hillandale Dr Lithonia, GA	1.0–3.0	1.0–2.0	990	$1,349	$1.36	44d	1	1.14mi

HOA detail condo

• Monthly dues: $208 · $2,496/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $95,000 Active 129 DOM
2. 2026-06-17
   days on market $95,000 Active 128 DOM
3. 2026-06-16
   days on market $95,000 Active 127 DOM
4. 2026-06-15
   days on market $95,000 Active 126 DOM
5. 2026-06-13
   days on market $95,000 Active 124 DOM
6. 2026-06-09
   days on market $95,000 Active 120 DOM
7. 2026-06-08
   days on market $95,000 Active 119 DOM
8. 2026-06-07
   days on market $95,000 Active 118 DOM
9. 2026-06-04
   days on market $95,000 Active 115 DOM
10. 2026-06-03
    days on market $95,000 Active 114 DOM
11. 2026-06-02
    days on market $95,000 Active 113 DOM
12. 2026-06-01
    days on market $95,000 Active 112 DOM
13. 2026-05-31
    days on market $95,000 Active 111 DOM
14. 2026-05-12
    price $95,000 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

15. 2026-05-12
    price $95,000 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

16. 2026-05-08
    price $90,000 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

17. 2026-05-08
    price $90,000 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

18. 2026-05-08
    price $95,000 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

19. 2026-05-08
    price $95,000 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

20. 2026-03-17
    status Back On Market 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

21. 2026-03-17
    status Active 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

22. 2026-03-12
    historical Active Under Contract 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

23. 2026-03-12
    historical Active Under Contract 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

24. 2026-02-07
    listed $105,000 Active 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

25. 2026-01-17
    listed $105,000 New 418-char remark

    Show marketing remark (418 chars)

    Move-in ready and fully renovated, this 3-bedroom, 2-bath condo features new paint, new flooring, and a bright, functional layout. Located on the first level of the building for easy access. The private primary suite and flexible additional bedrooms make it ideal for homeowners or investors alike. Conveniently located near shopping, dining, and public transportation. A great opportunity-schedule your showing today.

26. 2021-03-23
    soldstatus $72,000
27. 2021-03-12
    soldstatus $72,000 Sold
28. 2021-03-08
    status Under Contract
29. 2021-02-20
    listed $69,900 New
30. 2017-02-28
    historical
31. 2016-09-02
    listed $65,000 New

ⓘ 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: $2,181 · $182/mo
• Projected year-2 tax: $2,181 · $182/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 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,776
• − Mortgage interest: −$5,321
• − Property taxes: −$2,181
• − Insurance: −$475
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − HOA: −$2,496
• − Depreciation: −$2,764
• Taxable income: $1,695
• Est. tax owed @ 24.0%: −$407
• 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 — Stonecrest

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Stonecrest, GA
• County: Dekalb County · 782,738 people
• City population: 106,165
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 43,776
• Household income: $73,694
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1168.0

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% Two or more races 10% Hispanic / Latino 5% White 4% Asian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -74.98%
• Current HPI: 192.8328
• Rent YoY: ▲ 4.60%
• 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

+46.2% since first listed

18 events — show timeline

• 2026-05-12 Price Changed $95,000 FMLS
• 2026-05-12 Price Changed $95,000 GAMLS
• 2026-05-08 Price Changed $90,000 FMLS
• 2026-05-08 Price Changed $90,000 GAMLS
• 2026-05-08 Price Changed $95,000 FMLS
• 2026-05-08 Price Changed $95,000 GAMLS
• 2026-03-17 Relisted — GAMLS
• 2026-03-17 Relisted — FMLS
• 2026-03-12 Contingent — FMLS
• 2026-03-12 Contingent — GAMLS
• 2026-02-07 Listed $105,000 FMLS
• 2026-01-17 Listed $105,000 GAMLS
• 2021-03-23 Sold (Public Records) $72,000 Public Records
• 2021-03-12 Sold (MLS) $72,000 GAMLS
• 2021-03-08 Pending — GAMLS
• 2021-02-20 Listed $69,900 GAMLS
• 2017-02-28 Listing Removed — GAMLS
• 2016-09-02 Listed $65,000 GAMLS

Property tax history

+2.9%/yr

Latest (2025): $2,181 · -5.3% YoY. Source: county tax records.