1022 Thornwoode Ln · Stone Mountain, GA 30083

$140,000

2 bd · 2.5 ba · 1,196 sqft · Townhouse public records · 29 Days on market

Built 1984 3,049 sqft lot $117/sqft · 16% below area Est $167k · 16% 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 +15.9/30.0
• ARV discount +14.8/15.0
• 1% rule +5.4/10.0
• DSCR +4.9/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Townhome. End Unit, Need some minor TLC and it will be ready to move in.

Key facts

• Built 1984
• Listed 28 days

Property features AI

Finance

• Other: Lot about 0.07 acres
• Financial info: Investor owned
• HOA & community: Has an association (includes grounds maintenance)

Exterior

• Parking: Parking pad with open parking
• Utilities: Public water; Public sewer; Electricity available on property
• Home design: Residential townhouse; House structure; Two levels; Resale property
• Construction: Built in 1984
• Exterior features: Composition roof; Aluminum siding; No notable lot features

Interior

• Kitchen: Other appliances
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total)
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Fireplace (1); Other interior features
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $68 ($810/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 5.1% in Stone Mountain — 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 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+, 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.
• Zoned schools: Stone Mill Elementary School (math 2% / reading 17%, grade F, #1,092 of 1,228 statewide, top 91%, 592 students, 100% FRL); Stone Mountain Middle School (math 12% / reading 15%, grade F, #407 of 470 statewide, top 87%, 1,072 students, 100% FRL); Stone Mountain High School (math 8% / reading 12%, grade F, #365 of 424 statewide, top 88%, 1,202 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 11% at this address vs 24% district-wide (-12 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 (+1.3%/yr); 257 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $968 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

• It's been on market 29 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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.
• Current owner paid $35k; list at $140k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,900 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.04% ✓
• Cap rate: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• GRM: 8.0

CMA / ARV

• ARV (median comp): $167,048
• List price: $140,000
• Delta: -16.19%
• 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
1023 Thornwoode Ln	0.02mi	2/2.5	1,184 (-1%)	14mo	$98,500	$83	85
1055 Lancashire Cir Unit A 2	0.10mi	2/2.0	1,124 (-6%)	14mo	$265,000	$236	72
1055 Lancashire Cir Unit A 1	0.10mi	2/2.0	1,124 (-6%)	14mo	$265,000	$236	72
1055 Lancashire Cir Unit B 8	0.10mi	2/2.0	1,124 (-6%)	14mo	$265,000	$236	72
1001 Park Gate Pl	0.38mi	2/2.5	1,280 (+7%)	5mo	$195,000	$152	66
4707 Mariners Way	0.26mi	2/1.0	1,328 (+11%)	5mo	$60,000	$45	60
1070 Thornwoode Ln #1070	0.06mi	3/2.5 (+1)	1,320 (+10%)	19mo	$121,000	$92	59
1014 Park Gate Pl	0.35mi	2/2.5	1,280 (+7%)	19mo	$235,000	$184	56
1054 Park Gate Pl	0.35mi	2/2.5	1,280 (+7%)	21mo	$225,000	$176	54
979 Park Gate Pl	0.39mi	2/2.5	1,280 (+7%)	24mo	$192,500	$150	50
4712 Rockstile Way	0.33mi	2/2.0	1,032 (-14%)	12mo	$216,000	$209	50
1097 Old Saybrook Ct	0.52mi	2/1.0	1,033 (-14%)	5mo	$140,000	$136	43

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: -15.1%
• Equity multiple: 0.47×
• Total profit: $-20,734
• Equity at exit: $20,874

10-year hold

• IRR: -9.9%
• Equity multiple: 0.44×
• Total profit: $-21,826
• Equity at exit: $12,105

Cash invested: $39,200 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,462 high
• Mortgage (P&I): −$734
• Tax from tax record: −$295 /mo · $3,542/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $68

Break-even live

Break-even rent $1,377

Max offer price $140,000

Occupancy floor 90%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1073 Thornwoode Ln Stone Mountain, GA	3.0	2.5	1235	$697	$0.56	22d	1	0.14mi
1075 N Hairston Rd Stone Mountain, GA	1.0–3.0	1.0–2.0	992	$1,348	$1.36	5d	12	0.15mi
1059 Mariners Dr Stone Mountain, GA	2.0	1.5	1328	$1,600	$1.20	43d	1	0.31mi
4958 Central Dr Apt D Stone Mountain, GA	2.0	1.0	900	$995	$1.11	22d	1	0.39mi
4900 Central Dr Stone Mountain, GA	1.0–3.0	1.0–2.0	1100	$1,388	$1.26	1d	15	0.39mi
5030 W Mountain St Stone Mountain, GA	2.0	1.0	1175	$1,199	$1.02	43d	1	0.41mi
1173 N Hairston Rd Stone Mountain, GA	2.0	1.0–2.0	1161	$1,426	$1.23	1d	30	0.41mi
6097 Memorial Dr Stone Mountain, GA	2.0–3.0	1.0–2.0	1123	$1,341	$1.19	3d	9	0.45mi
5100 W Mountain St Stone Mountain, GA	1.0–3.0	1.0–2.0	1150	$1,252	$1.09	3d	11	0.49mi
4923 Sheila Ln Stone Mountain, GA	3.0	2.0	1266	$1,200	$0.95	43d	1	0.51mi
1 Chatfield Dr Stone Mountain, GA	1.0–3.0	1.0–2.5	1060	$1,282	$1.21	2d	20	0.52mi
967 Pine Roc Dr Stone Mountain, GA	3.0	2.0	1206	$1,900	$1.58	10d	1	0.56mi
1259 Old Countryside Cir Stone Mountain, GA	3.0	2.0	1309	$1,795	$1.37	43d	1	0.57mi
1311 Old Countryside Cir Stone Mountain, GA	3.0	2.5	1381	$2,101	$1.52	5d	1	0.62mi
5025 Brittany Dr Stone Mountain, GA	3.0	2.5	1484	$1,845	$1.24	12d	1	0.64mi
1305 Old Countryside Cir W Stone Mountain, GA	3.0	2.0	1132	$1,719	$1.52	16d	1	0.70mi
1010 Sexton Dr Stone Mountain, GA	2.0	2.0	1000	$1,250	$1.25	12d	1	0.73mi
1700 Weatherly Dr Stone Mountain, GA	1.0–2.0	1.0–2.0	769	$1,215	$1.58	5d	1	0.80mi
1310 Wood Bend Dr Stone Mountain, GA	1.0–2.0	1.0–2.0	909	$1,500	$1.65	1d	78	0.87mi
2700 Summit Creek Dr Stone Mountain, GA	2.0	1.0–2.0	926	$1,279	$1.38	2d	34	0.87mi
205 Summit Lake Dr Stone Mountain, GA	2.0	2.0	1175	$1,559	$1.33	12d	1	0.93mi
205 Summit Lake Dr Stone Mountain, GA	1.0	2.0	1004	$1,377	$1.37	24d	1	0.93mi
205 Summit Lake Dr Stone Mountain, GA	2.0	2.0	1155	$1,634	$1.41	43d	1	0.93mi
200 Summit Lake Dr Stone Mountain, GA	2.0	2.0	1175	$1,389	$1.18	12d	1	0.95mi
200 Summit Lake Dr Stone Mountain, GA	1.0	1.0	880	$1,188	$1.35	4d	1	0.95mi
200 Summit Lake Dr Stone Mountain, GA	3.0	2.0	1486	$1,809	$1.22	22d	1	0.95mi
200 Summit Lake Dr Stone Mountain, GA	1.0	1.0	1004	$1,184	$1.18	15d	1	0.95mi
1047 Ridge Ave Stone Mountain, GA	3.0	1.0	1402	$2,150	$1.53	24d	1	1.03mi
1900 Tree Mountain Pkwy Stone Mountain, GA	1.0–2.0	1.0–2.5	1118	$1,200	$1.07	1d	25	1.07mi
827 San Miguel Dr Stone Mountain, GA	3.0	2.0	1272	$1,550	$1.22	16d	1	1.17mi
1313 Stone Mill Way Stone Mountain, GA	1.0–4.0	1.0–2.5	1004	$1,392	$1.39	15d	12	1.22mi
1509 Kilmuir Way Stone Mountain, GA	2.0	2.5	1160	$1,550	$1.34	43d	1	1.28mi
1150 Rankin St Stone Mountain, GA	2.0	2.5	1495	$1,850	$1.24	24d	1	1.34mi
1150 Rankin St Stone Mountain, GA	2.0–3.0	2.5	1437	$1,600	$1.11	43d	2	1.35mi
5280 Ridge Forest Dr Stone Mountain, GA	2.0	2.5	1170	$1,325	$1.13	43d	1	1.40mi
768 Fourth St Stone Mountain, GA	3.0	2.0	1200	$2,100	$1.75	5d	1	1.42mi
621 Windchase Ln Stone Mountain, GA	2.0	2.0	912	$1,200	$1.32	43d	1	1.47mi
5351 Ridgemere Ct Stone Mountain, GA	3.0	2.5	1160	$1,465	$1.26	5d	1	1.47mi
5353 Ridgemere Ct Stone Mountain, GA	3.0	2.5	1160	$1,465	$1.26	5d	1	1.47mi
5290 Stonebush Ter Unit A Stone Mountain, GA	2.0	2.5	1200	$1,450	$1.21	18d	1	1.49mi

Listing history 32 events

1. 2026-06-18
   days on market $140,000 Active 29 DOM
2. 2026-06-17
   days on market $140,000 Active 28 DOM
3. 2026-06-16
   days on market $140,000 Active 27 DOM
4. 2026-06-15
   days on market $140,000 Active 26 DOM
5. 2026-06-13
   days on market $140,000 Active 24 DOM
6. 2026-06-09
   days on market $140,000 Active 20 DOM
7. 2026-06-08
   days on market $140,000 Active 19 DOM
8. 2026-06-07
   days on market $140,000 Active 18 DOM
9. 2026-06-04
   statusdays on market $140,000 Active 15 DOM
10. 2026-06-03
    days on market $140,000 New 14 DOM
11. 2026-06-02
    days on market $140,000 New 13 DOM
12. 2026-06-01
    days on market $140,000 New 12 DOM
13. 2026-05-31
    days on market $140,000 New 11 DOM
14. 2026-04-28
    historical $140,000 66-char remark
15. 2023-09-26
    historical $1,275
16. 2023-08-31
    price $1,275
17. 2023-08-24
    listed $1,300
18. 2023-08-11
    historical
19. 2017-11-08
    historical
20. 2017-11-07
    status Back on Market
21. 2017-10-16
    status Under Contract
22. 2017-08-26
    listed $60,000 New
23. 2015-03-20
    soldstatus $35,000 Sold

    Show marketing remark (78 chars)

    Great Townhome. End Unit, Need some minor TLC and it will be ready to move in.

24. 2015-03-10
    status Under Contract

    Show marketing remark (78 chars)

    Great Townhome. End Unit, Need some minor TLC and it will be ready to move in.

25. 2015-03-06
    listed $35,000 New

    Show marketing remark (78 chars)

    Great Townhome. End Unit, Need some minor TLC and it will be ready to move in.

26. 2015-01-23
    historical
27. 2014-12-03
    price $35,000
28. 2014-10-23
    listed $37,000 New
29. 2005-09-06
    soldstatus $76,000
30. 1999-12-13
    soldstatus $67,000
31. 1994-05-23
    soldstatus $34,500
32. 1991-08-01
    soldstatus $35,000

ⓘ 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: $3,542 · $295/mo
• Projected year-2 tax: $3,542 · $295/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 6/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $17,548
• − Mortgage interest: −$7,842
• − Property taxes: −$3,542
• − Insurance: −$700
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − Depreciation: −$4,073
• Taxable loss: −$1,417
• Est. tax savings @ 24.0%: +$340
• After-tax cash flow: $1,150/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 — 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

+300.0% since first listed

20 events — show timeline

• 2026-05-21 Listed $140,000 GAMLS
• 2026-04-28 Coming Soon $140,000 GAMLS
• 2023-09-26 Rental Removed $1,275 APPFOLIO
• 2023-08-31 Price Changed $1,275 APPFOLIO
• 2023-08-24 Listed for Rent $1,300 APPFOLIO
• 2023-08-11 Rental Removed — APPFOLIO
• 2017-11-08 Listing Removed — GAMLS
• 2017-11-07 Relisted — GAMLS
• 2017-10-16 Pending — GAMLS
• 2017-08-26 Listed $60,000 GAMLS
• 2015-03-20 Sold (MLS) $35,000 GAMLS
• 2015-03-10 Pending — GAMLS
• 2015-03-06 Listed $35,000 GAMLS
• 2015-01-23 Listing Removed — GAMLS
• 2014-12-03 Price Changed $35,000 GAMLS
• 2014-10-23 Listed $37,000 GAMLS
• 2005-09-06 Sold (Public Records) $76,000 Public Records
• 1999-12-13 Sold (Public Records) $67,000 Public Records
• 1994-05-23 Sold (Public Records) $34,500 Public Records
• 1991-08-01 Sold (Public Records) $35,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $3,542 · +0.0% YoY. Source: county tax records.