1615 Pine Glen Cir · Redan, GA 30035

$189,900

3 bd · 2.5 ba · 1,884 sqft · SingleFamily public records · 84 Days on market

Built 1969 0.27 ac lot $101/sqft · 22% below area Est $242k · 22% under

---

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 +16.8/30.0
• ARV discount +15.0/15.0
• 1% rule +5.3/10.0
• DSCR +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4-bedroom, 3-bath home offering comfort and functionality. Features include a cozy layout, well-appointed living areas, and a generous backyard ideal for outdoor entertaining, play, or future enhancements. A great opportunity for buyers seeking space both inside and out.

Key facts

• Outdoor entertaining
• Generous backyard
• 0.27 acre lot

Tags

• GENEROUS BACKYARD
• OUTDOOR ENTERTAINING
• WELL-APPOINTED LIVING AREAS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $121 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 5.4% in Redan — 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 64/100 on livability (#274 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute 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 flat; 180 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 35% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $6k 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 84 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 6 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 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is D 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: 1.03% ✓
• Cap rate: 7.06%
• Cash-on-cash: 2.73%
• DSCR: 1.12
• GRM: 8.1

CMA / ARV

• ARV (median comp): $242,474
• List price: $189,900
• Delta: -21.68%
• 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
1517 Indian Forest Trl	0.39mi	3/2.0	1,874 (-0%)	5mo	$196,000	$105	75
4436 Cypress Ridge Ln	0.48mi	3/2.0	1,928 (+2%)	2mo	$162,000	$84	70
4541 Mercer Rd	0.36mi	4/2.5 (+1)	2,024 (+7%)	2mo	$295,500	$146	64
4448 Cedar Ridge Trl	0.21mi	3/2.0	1,617 (-14%)	4mo	$212,000	$131	61
1373 To Lani Farm Rd	0.62mi	3/2.0	1,844 (-2%)	6mo	$174,000	$94	60
1526 Colony East Cir	0.31mi	3/2.0	1,647 (-13%)	6mo	$206,000	$125	58
4176 Colony East Dr	0.71mi	4/2.5 (+1)	1,908 (+1%)	3mo	$263,533	$138	57
1381 To Lani Farm Rd	0.61mi	3/2.0	1,726 (-8%)	1mo	$289,000	$167	55
4285 Mercer Rd	0.30mi	3/1.5	1,636 (-13%)	8mo	$200,000	$122	54
4220 Colony East Dr	0.65mi	4/2.5 (+1)	1,767 (-6%)	4mo	$284,000	$161	51
1235 To Lani Path	0.72mi	3/2.5	1,664 (-12%)	3mo	$260,000	$156	44
4641 Wendover Dr	0.64mi	4/2.5 (+1)	2,130 (+13%)	5mo	$242,500	$114	40

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 · 0.87% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.49×
• Total profit: $-27,092
• Equity at exit: $28,315

10-year hold

• IRR: -10.1%
• Equity multiple: 0.45×
• Total profit: $-29,468
• Equity at exit: $16,419

Cash invested: $53,172 (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 30035

• Home prices YoY: -33.8%
• Rents YoY: 0.9%
• Active inventory: 180
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,964 high
• Mortgage (P&I): −$996
• Tax from tax record: −$356 /mo · $4,271/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $121

Break-even live

Break-even rent $1,811

Max offer price $189,900

Occupancy floor 89%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1563 Pine Glen Cir Decatur, GA	3.0	2.0	1608	$1,695	$1.05	5d	1	0.13mi
4336 Glenhaven Dr Decatur, GA	4.0	3.0	2100	$2,500	$1.19	43d	1	0.32mi
1406 High Meadow Dr Stone Mountain, GA	3.0	2.0	1621	$1,625	$1.00	12d	1	0.35mi
1406 High Meadow Dr Stone Mountain, GA	3.0	2.0	1621	$900	$0.56	22d	1	0.35mi
4169 Cedar Ridge Trl Stone Mountain, GA	3.0	2.0	1591	$1,870	$1.18	5d	1	0.53mi
1380 Colony Hill Ct Stone Mountain, GA	4.0	4.5	1350	$1,690	$1.25	12d	1	0.54mi
1380 Colony Hill Ct Stone Mountain, GA	3.0	1.5	1350	$1,500	$1.11	10d	1	0.54mi
1299 To Lani Path Stone Mountain, GA	3.0	2.0	1507	$1,675	$1.11	12d	1	0.59mi
4073 Cedar Ridge Trl Stone Mountain, GA	4.0	2.5	2100	$1,761	$0.84	43d	1	0.67mi
1217 To Lani Path Stone Mountain, GA	3.0	2.5	1404	$1,754	$1.25	2d	1	0.74mi
4565 Covington Hwy Decatur, GA	2.0–3.0	1.5	1200	$1,439	$1.20	3d	8	0.76mi
1600 Devon Ct Stone Mountain, GA	4.0	3.0	2100	$2,145	$1.02	24d	1	0.86mi
1576 Canberra Dr Stone Mountain, GA	3.0	2.0	1850	$1,000	$0.54	4d	1	0.89mi
1576 Canberra Dr Stone Mountain, GA	3.0	2.0	1850	$1,900	$1.03	3d	1	0.89mi
1420 S Hairston Rd Stone Mountain, GA	1.0–2.0	1.0–2.5	1011	$1,358	$1.34	19d	31	0.92mi
1127 Cherokee Hts Stone Mountain, GA	4.0	3.0	2184	$1,831	$0.84	12d	1	1.00mi
1922 Manhattan Pkwy Decatur, GA	2.0	2.5	1814	$2,000	$1.10	5d	1	1.02mi
4852 Lost Colony Ct Stone Mountain, GA	4.0	3.0	1694	$1,775	$1.05	24d	1	1.03mi
1102 Cherokee Hts Stone Mountain, GA	4.0	2.5	1867	$2,140	$1.15	11d	1	1.05mi
1859 Broadway St Decatur, GA	3.0	2.5	1620	$2,200	$1.36	3d	1	1.07mi
4612 Grand Central Pkwy Decatur, GA	2.0	2.5	1328	$2,100	$1.58	24d	1	1.08mi
1502 Vernon Blvd Decatur, GA	3.0	3.0	1515	$2,050	$1.35	24d	1	1.10mi
3184 Delancy St Decatur, GA	3.0	2.5	1515	$1,800	$1.19	43d	1	1.11mi
1590 Agape Way Decatur, GA	1.0–3.0	1.0–2.0	1022	$1,400	$1.37	43d	1	1.12mi
3141 Journal Ct Decatur, GA	3.0	2.5	1386	$1,895	$1.37	12d	1	1.12mi
1683 Vernon Blvd Decatur, GA	3.0	2.5	1515	$1,840	$1.21	18d	1	1.12mi
2014 Manhattan Pkwy Decatur, GA	3.0	2.5	1620	$1,956	$1.21	5d	1	1.12mi
3121 Journal Ct Decatur, GA	3.0	2.5	1386	$1,895	$1.37	19d	1	1.17mi
3106 Calcutta St Decatur, GA	3.0	2.5	1386	$1,895	$1.37	43d	1	1.20mi
1473 Hyatt Cir Decatur, GA	3.0	2.5	1386	$2,050	$1.48	43d	1	1.22mi
3096 Calcutta St Decatur, GA	3.0	2.5	1386	$1,895	$1.37	43d	1	1.22mi
4655 Glenwood Rd Decatur, GA	2.0–3.0	2.0	1318	$1,600	$1.21	19d	31	1.27mi
1998 Arthurs Court Dr Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	1.33mi
1998 Arthurs Court Dr Unit 1998 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	1.33mi
4939 Clubgreen Smt Stone Mountain, GA	4.0	2.5	2156	$2,139	$0.99	43d	1	1.34mi
3023 Arthurs Ct Unit 3023 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	1.36mi
3021 Arthurs Ct Unit 3021 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	1.36mi
3019 Arthurs Ct Unit 3019 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	1.36mi
3017 Arthurs Ct Unit 3017 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	1.36mi
3015 Arthurs Ct Unit 3015 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	1.36mi

Listing history 31 events

1. 2026-05-13
   status Under Contract 280-char remark

   Show marketing remark (280 chars)

   Spacious 4-bedroom, 3-bath home offering comfort and functionality. Features include a cozy layout, well-appointed living areas, and a generous backyard ideal for outdoor entertaining, play, or future enhancements. A great opportunity for buyers seeking space both inside and out.

2. 2026-05-06
   status Back On Market 280-char remark

   Show marketing remark (280 chars)

   Spacious 4-bedroom, 3-bath home offering comfort and functionality. Features include a cozy layout, well-appointed living areas, and a generous backyard ideal for outdoor entertaining, play, or future enhancements. A great opportunity for buyers seeking space both inside and out.

3. 2026-05-01
   status Under Contract 280-char remark

   Show marketing remark (280 chars)

   Spacious 4-bedroom, 3-bath home offering comfort and functionality. Features include a cozy layout, well-appointed living areas, and a generous backyard ideal for outdoor entertaining, play, or future enhancements. A great opportunity for buyers seeking space both inside and out.

4. 2026-04-16
   status Back On Market 280-char remark

   Show marketing remark (280 chars)

   Spacious 4-bedroom, 3-bath home offering comfort and functionality. Features include a cozy layout, well-appointed living areas, and a generous backyard ideal for outdoor entertaining, play, or future enhancements. A great opportunity for buyers seeking space both inside and out.

5. 2026-04-01
   status Under Contract 280-char remark

   Show marketing remark (280 chars)

   Spacious 4-bedroom, 3-bath home offering comfort and functionality. Features include a cozy layout, well-appointed living areas, and a generous backyard ideal for outdoor entertaining, play, or future enhancements. A great opportunity for buyers seeking space both inside and out.

6. 2026-03-06
   price $189,900 280-char remark

   Show marketing remark (280 chars)

   Spacious 4-bedroom, 3-bath home offering comfort and functionality. Features include a cozy layout, well-appointed living areas, and a generous backyard ideal for outdoor entertaining, play, or future enhancements. A great opportunity for buyers seeking space both inside and out.

7. 2026-02-16
   status Back On Market 280-char remark

   Show marketing remark (280 chars)

   Spacious 4-bedroom, 3-bath home offering comfort and functionality. Features include a cozy layout, well-appointed living areas, and a generous backyard ideal for outdoor entertaining, play, or future enhancements. A great opportunity for buyers seeking space both inside and out.

8. 2026-02-09
   status Under Contract 280-char remark

   Show marketing remark (280 chars)

   Spacious 4-bedroom, 3-bath home offering comfort and functionality. Features include a cozy layout, well-appointed living areas, and a generous backyard ideal for outdoor entertaining, play, or future enhancements. A great opportunity for buyers seeking space both inside and out.

9. 2026-01-20
   listed $194,900 New 280-char remark

   Show marketing remark (280 chars)

   Spacious 4-bedroom, 3-bath home offering comfort and functionality. Features include a cozy layout, well-appointed living areas, and a generous backyard ideal for outdoor entertaining, play, or future enhancements. A great opportunity for buyers seeking space both inside and out.

10. 2025-12-31
    historical
11. 2025-12-31
    historical
12. 2025-10-02
    price $203,900
13. 2025-10-02
    price $203,900
14. 2025-09-24
    price $210,900
15. 2025-09-24
    price $210,900
16. 2025-09-13
    price $215,900
17. 2025-09-13
    price $215,900
18. 2025-09-04
    price $222,900
19. 2025-09-04
    price $222,900
20. 2025-08-25
    price $224,900
21. 2025-08-25
    price $224,900
22. 2025-08-01
    listed $229,900 Active
23. 2025-08-01
    listed $229,900 New
24. 2022-02-24
    soldstatus $4,479,001
25. 2014-10-15
    soldstatus $735,800
26. 2014-01-14
    soldstatus $58,000
27. 2010-05-30
    price $49,900 Reduced
28. 2007-10-04
    soldstatus $140,000
29. 2005-03-24
    soldstatus $140,000
30. 2005-01-10
    soldstatus $79,900
31. 1999-04-12
    soldstatus $52,900

ⓘ 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: $4,271 · $356/mo
• Projected year-2 tax: $4,271 · $356/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 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% 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: $23,571
• − Mortgage interest: −$10,637
• − Property taxes: −$4,271
• − Insurance: −$950
• − Repairs & maintenance: −$1,886
• − Management: −$1,886
• − Depreciation: −$5,524
• Taxable loss: −$1,582
• Est. tax savings @ 24.0%: +$380
• After-tax cash flow: $1,830/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 — Redan

• Score: 64/100
• State rank: #274
• US rank: #14766

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dekalb County · 782,738 people
• City population: 29,279
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 21,569
• Household income: $66,799
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1304.0

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 (91%)
• Race & ethnicity: Black 91% White 4% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1% Swiss 0%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 4% French/Haitian/Cajun 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: ▼ -111.60%
• Current HPI: 218.8323
• Rent YoY: ▲ 0.87%
• 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

+259.0% since first listed

31 events — show timeline

• 2026-05-13 Pending — GAMLS
• 2026-05-06 Relisted — GAMLS
• 2026-05-01 Pending — GAMLS
• 2026-04-16 Relisted — GAMLS
• 2026-04-01 Pending — GAMLS
• 2026-03-06 Price Changed $189,900 GAMLS
• 2026-02-16 Relisted — GAMLS
• 2026-02-09 Pending — GAMLS
• 2026-01-20 Listed $194,900 GAMLS
• 2025-12-31 Listing Removed — GAMLS
• 2025-12-31 Listing Removed — FMLS
• 2025-10-02 Price Changed $203,900 GAMLS
• 2025-10-02 Price Changed $203,900 FMLS
• 2025-09-24 Price Changed $210,900 GAMLS
• 2025-09-24 Price Changed $210,900 FMLS
• 2025-09-13 Price Changed $215,900 GAMLS
• 2025-09-13 Price Changed $215,900 FMLS
• 2025-09-04 Price Changed $222,900 GAMLS
• 2025-09-04 Price Changed $222,900 FMLS
• 2025-08-25 Price Changed $224,900 GAMLS
• 2025-08-25 Price Changed $224,900 FMLS
• 2025-08-01 Listed $229,900 GAMLS
• 2025-08-01 Listed $229,900 FMLS
• 2022-02-24 Sold (Public Records) $4,479,001 Public Records
• 2014-10-15 Sold (Public Records) $735,800 Public Records
• 2014-01-14 Sold (Public Records) $58,000 Public Records
• 2010-05-30 Price Changed $49,900 GAMLS
• 2007-10-04 Sold (Public Records) $140,000 Public Records
• 2005-03-24 Sold (Public Records) $140,000 Public Records
• 2005-01-10 Sold (Public Records) $79,900 Public Records
• 1999-04-12 Sold (Public Records) $52,900 Public Records

Property tax history

+3.4%/yr

Latest (2025): $4,271 · -2.5% YoY. Source: county tax records.