1031 Chads Rdg · Stockbridge, GA 30236

$189,900

3 bd · 2.5 ba · 1,963 sqft · SingleFamily public records · 5 Days on market

Built 1998 2,178 sqft lot Est $294k · 36% under $8/mo HOA ↓ 17% since listing

---

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 +15.2/30.0
• ARV discount +15.0/15.0
• 1% rule +5.5/10.0
• DSCR +4.7/10.0
• Rent growth +3.0/5.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated in Spivey Glen, this 3-bedroom, 1998-built home offers over 1,900 sq ft of living space and a solid opportunity for the right buyer. Sold as-is, this property is priced to reflect its condition and presents strong upside potential in a well-established Jonesboro community. Spivey Glen sits just minutes from Clayton County International Park - a landmark recreation destination featuring walking trails, a beach area, tennis courts, and a six-acre lake. Everyday conveniences are close at hand, with grocery, dining, and retail options a short drive away in Morrow and Stockbridge. Commuters benefit from straightforward access to I-675 and I-75, connecting residents to downtown Atlanta in approximately 20 minutes. Clayton County's growing employment base and proximity to Hartsfield-Jackson Atlanta International Airport add further appeal to this location.

Key facts

• Six-acre lake
• Tennis courts
• Beach area

Tags

• WALKING TRAILS
• BEACH AREA
• TENNIS COURTS
• SIX-ACRE LAKE
• GROCERY DINING RETAIL OPTIONS
• ACCESS TO I-675

Property features AI

Finance

• Other: GPS-friendly directions; Asphalt road frontage
• HOA & community: Association with an annual fee of $100

Exterior

• Parking: Attached garage; Two garage spaces
• Utilities: Public water; Public sewer; Electricity available; Electric service (other)
• Home design: Two levels; Resale property; Stucco and vinyl siding exterior; Composition roof; Concrete perimeter foundation
• Construction: Stucco and vinyl siding construction; Composition roof; Concrete perimeter foundation
• Exterior features: Deck; Full basement with walk-out access

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Master on main; One bedroom on main level; Two bedrooms on upper level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: Two full bathrooms; One half bathroom; Master bathroom with double vanity; One full bathroom on upper level; One main-level bathroom (includes main-level half bath counted separately)
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Vaulted ceilings; Entrance foyer; High-speed internet available; Disappearing attic stairs; Double-pane windows; No common walls; Gas water heater; Living room fireplace
• Laundry & utility: Dedicated laundry room

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 $-1 ($-14/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (0.1% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $190k (0.1% below list) — sets the bar for cash-flow.
• Cap rate 6.7% vs local median 4.2% in Stockbridge — 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 60/100 on livability (#389 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: crime D, amenities F, commute F.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Red Oak Elementary School (math 22% / reading 32%, grade F, #689 of 1,228 statewide, top 58%, 619 students, 54% FRL); Dutchtown Middle School (math 21% / reading 37%, grade F, #258 of 470 statewide, top 55%, 1,092 students, 50% FRL); Dutchtown High (math 32% / reading 38%, grade F, #84 of 424 statewide, top 20%, 1,861 students, 43% FRL).
• Market conditions: Rents rising (+2.1%/yr); 275 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).
• This rent runs 36% 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.
• Henry County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 2y 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 2.7% of price; flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; moderate wind risk, 26% 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 $189,693 (0.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.05% ✓
• Cap rate: 6.71%
• Cash-on-cash: 1.47%
• DSCR: 1.07
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $294,450
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
617 Creekstone Ct	0.21mi	3/2.5	2,156 (+10%)	5mo	$320,000	$148	69
418 Woodwind Ct	0.14mi	3/2.0	2,234 (+14%)	2mo	$365,000	$163	66
534 Creekstone Dr	0.12mi	3/2.0	1,708 (-13%)	13mo	$300,000	$176	60
209 Reeves Creek Way	0.26mi	4/2.5 (+1)	2,204 (+12%)	21mo	$300,000	$136	45
212 Spivey Ridge Cir	0.74mi	3/2.0	2,195 (+12%)	15mo	$330,000	$150	31

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 · 2.15% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-32,345
• Equity at exit: $28,315

10-year hold

• IRR: -11.2%
• Equity multiple: 0.35×
• Total profit: $-34,299
• 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 30236

• Rents YoY: 2.1%
• Active inventory: 275
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,992 high
• Mortgage (P&I): −$996
• Tax from tax record: −$426 /mo · $5,107/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$8
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $-1

Break-even live

Break-even rent $1,994

Max offer price $189,693

Occupancy floor 95%

Sensitivity live

Price	-10% $106	-5% $53	+0% $-1	+5% $-55	+10% $-109
Rent	-10% $-159	-5% $-80	+0% $-1	+5% $78	+10% $156
Rate	-1.0pp $94	-0.5pp $47	base $-1	+0.5pp $-50	+1.0pp $-100

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 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3213 Stonemill Dr Jonesboro, GA	3.0	2.0	1450	$2,230	$1.54	0d	1	0.34mi
170 Memory Ln Stockbridge, GA	4.0	2.5	2448	$2,295	$0.94	6d	1	0.51mi
1 Hatcher Dr Stockbridge, GA	1.0–3.0	1.0–2.0	1048	$2,905	$2.77	0d	43	0.70mi
1000 Peridot Pkwy Stockbridge, GA	1.0–3.0	1.0–2.0	1065	$1,879	$1.76	2d	12	0.87mi
2530 Walter Way Stockbridge, GA	3.0	2.5	2213	$2,180	$0.99	6d	1	1.08mi
3461 Narrow Creek Ct Stockbridge, GA	2.0	2.0	1672	$1,900	$1.14	44d	1	1.08mi
3470 Mount Zion Rd Stockbridge, GA	1.0–3.0	1.0–2.0	973	$2,021	$2.08	18d	10	1.10mi
3470 Mount Zion Rd Stockbridge, GA	1.0–3.0	1.0–2.0	973	$1,584	$1.63	23d	23	1.10mi
808 Winsap Dr Stockbridge, GA	3.0	2.0	2066	$2,145	$1.04	44d	1	1.15mi
7582 Colonial Ct Jonesboro, GA	4.0	2.0	1808	$1,650	$0.91	21d	1	1.26mi
604 Armitage Way Stockbridge, GA	4.0	3.0	2280	$2,320	$1.02	21d	1	1.29mi
164 Addy Ln Stockbridge, GA	4.0	2.5	2400	$2,400	$1.00	44d	1	1.31mi
3384 Mount Zion Rd Stockbridge, GA	4.0	3.0	1448	$1,950	$1.35	44d	1	1.34mi
2845 Woodhollow Ln Jonesboro, GA	3.0	2.5	2418	$2,050	$0.85	44d	1	1.35mi
4059 Angels Dr Stockbridge, GA	3.0	2.0	1430	$1,879	$1.31	44d	1	1.36mi
3196 Mount Zion Rd Stockbridge, GA	1.0–3.0	1.0–2.0	1095	$1,865	$1.70	0d	26	1.38mi
640 Fairgreen Trl Stockbridge, GA	3.0	2.0	1651	$1,859	$1.13	44d	1	1.39mi
3156 Mount Zion Rd Stockbridge, GA	1.0–3.0	1.0–2.0	1149	$1,795	$1.56	2d	15	1.40mi
3110 Mount Zion Rd Stockbridge, GA	2.0–3.0	1.0–2.0	1206	$1,575	$1.31	0d	3	1.43mi
50 Evergreen Way Stockbridge, GA	1.0–3.0	1.0–2.0	1070	$1,763	$1.65	0d	17	1.44mi
7305 Hannover Pkwy N Stockbridge, GA	1.0–3.0	1.0–2.0	1090	$1,860	$1.71	0d	15	1.46mi

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 18 events

1. 2026-06-03
   status $189,900 Pending 5 DOM
2. 2026-06-02
   days on market $189,900 Active 5 DOM
3. 2026-06-01
   days on market $189,900 Active 4 DOM
4. 2026-05-31
   days on market $189,900 Active 3 DOM
5. 2026-05-28
   listed $189,900 Active

   Show marketing remark (870 chars)

   Situated in Spivey Glen, this 3-bedroom, 1998-built home offers over 1,900 sq ft of living space and a solid opportunity for the right buyer. Sold as-is, this property is priced to reflect its condition and presents strong upside potential in a well-established Jonesboro community. Spivey Glen sits just minutes from Clayton County International Park - a landmark recreation destination featuring walking trails, a beach area, tennis courts, and a six-acre lake. Everyday conveniences are close at hand, with grocery, dining, and retail options a short drive away in Morrow and Stockbridge. Commuters benefit from straightforward access to I-675 and I-75, connecting residents to downtown Atlanta in approximately 20 minutes. Clayton County's growing employment base and proximity to Hartsfield-Jackson Atlanta International Airport add further appeal to this location.

6. 2026-05-28
   listed $189,900 New 870-char remark

   Show marketing remark (870 chars)

   Situated in Spivey Glen, this 3-bedroom, 1998-built home offers over 1,900 sq ft of living space and a solid opportunity for the right buyer. Sold as-is, this property is priced to reflect its condition and presents strong upside potential in a well-established Jonesboro community. Spivey Glen sits just minutes from Clayton County International Park - a landmark recreation destination featuring walking trails, a beach area, tennis courts, and a six-acre lake. Everyday conveniences are close at hand, with grocery, dining, and retail options a short drive away in Morrow and Stockbridge. Commuters benefit from straightforward access to I-675 and I-75, connecting residents to downtown Atlanta in approximately 20 minutes. Clayton County's growing employment base and proximity to Hartsfield-Jackson Atlanta International Airport add further appeal to this location.

7. 2024-05-31
   historical $2,105
8. 2024-05-25
   historical $2,105
9. 2024-05-19
   price $2,105
10. 2024-05-18
    price $2,105
11. 2024-05-08
    listed $2,155
12. 2024-04-27
    listed $2,155
13. 2024-03-16
    historical $2,205
14. 2024-03-14
    listed $2,205
15. 2024-03-12
    historical $2,205
16. 2024-03-10
    listed $2,205
17. 2022-01-14
    price $1,995
18. 1998-04-17
    soldstatus $230,000

ⓘ 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: $5,107 · $426/mo
• Projected year-2 tax: $5,107 · $426/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,907
• − Mortgage interest: −$10,637
• − Property taxes: −$5,107
• − Insurance: −$1,747
• − Repairs & maintenance: −$1,913
• − Management: −$1,913
• − HOA: −$96
• − Depreciation: −$5,524
• Taxable loss: −$3,030
• Est. tax savings @ 24.0%: +$727
• After-tax cash flow: $713/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: Henry County
• NCES district ID: 1302820
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $62,594
• Composite: 26.13/100
• National rank: #7279
• State rank: #89 of 174 in GA

Livability — Stockbridge

• Score: 60/100
• State rank: #389
• US rank: #19479

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

• Census place: Stockbridge, GA
• County: Clayton County · 230,153 people
• City population: 71,603
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 50,089
• Household income: $66,973
• Rent vs Own: 40.8% rent · 59.2% own
• Severe rent burden: 2024.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 249,041 people
• By 2030: 264,369 · +6.2%
• By 2040: 294,459 · +18.2%
• By 2050: 322,249 · +29.4%
• By 2075: 392,310 · +57.5%
• By 2100: 437,836 · +75.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 64% White 14% Hispanic / Latino 11% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Slovak 1% Italian 1% Hispanic 1%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 10% Vietnamese 3% French/Haitian/Cajun 2%

Political lean MEDSL · Henry

• 2024 margin: Strong D (+29.7) · D 64.5% · R 34.9%
• 2008→2024 swing: +37.1pp toward D · 2008: -7.5pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+20.5 2016: D+4.3 2012: R+3.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.02%
• Current HPI: 204.1778
• Rent YoY: ▲ 2.15%
• 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

-17.4% since first listed

14 events — show timeline

• 2026-05-28 Listed $189,900 GAMLS
• 2026-05-28 Listed $189,900 FMLS
• 2024-05-31 Rental Removed $2,105 GAMLS
• 2024-05-25 Rental Removed $2,105 RENT.
• 2024-05-19 Price Changed $2,105 GAMLS
• 2024-05-18 Price Changed $2,105 RENT.
• 2024-05-08 Listed for Rent $2,155 GAMLS
• 2024-04-27 Listed for Rent $2,155 RENT.
• 2024-03-16 Rental Removed $2,205 RENTLY
• 2024-03-14 Listed for Rent $2,205 RENTLY
• 2024-03-12 Rental Removed $2,205 RENT.
• 2024-03-10 Listed for Rent $2,205 RENT.
• 2022-01-14 Price Changed $1,995 RENT.
• 1998-04-17 Sold (Public Records) $230,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $5,107 · -0.5% YoY. Source: county tax records.