3608 Shephards Path · Panthersville, GA 30034

$125,000

3 bd · 2.0 ba · 1,279 sqft · Condo public records · 242 Days on market

Built 1995 $98/sqft · 20% above area Est $104k · 20% over

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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 +25.4/30.0
• 1% rule +9.5/10.0
• DSCR +8.4/10.0
• Livability +3.3/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

RARE 3 bedroom, single level condo on bottom floor. Easy living at its finest with great access to schools, expressways and shopping. This home is MOVE-IN ready with newer appliances, fresh paint and all electric. The owner has rented this condo in the past but you would never know. This would be an excellent opportunity for an investor, home previously rented for $1750!

Key facts

• 2 parking spots
• Built 1995
• Listed 242 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 5.3% in Panthersville — 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 (#180 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools D+, employment D.
• 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 (+2.2%/yr); 353 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 51% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 34% of the median local income ($64k/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 $864 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 242 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago; this cycle's ask is 7043% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $72k; list at $125k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 24% 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 242 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. 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. 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 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: 1.45% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.83%
• DSCR: 1.44
• GRM: 5.8

CMA / ARV

• ARV (median comp): $104,158
• List price: $125,000
• Delta: 20.01%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.18% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.91×
• Total profit: $-3,272
• Equity at exit: $18,638

10-year hold

• IRR: 6.2%
• Equity multiple: 1.44×
• Total profit: $15,501
• Equity at exit: $10,808

Cash invested: $35,000 (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 30034

• Home prices YoY: -27.4%
• Rents YoY: 2.2%
• Active inventory: 353
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,809 high
• Mortgage (P&I): −$656
• Tax from tax record: −$134 /mo · $1,608/yr
• Insurance: −$52
• HOA est. from 1 same-building comp: −$301
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $287

Break-even live

Break-even rent $1,446

Max offer price $125,000

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3515 Shepherds Path Decatur, GA	3.0	2.0	1279	$1,495	$1.17	43d	1	0.04mi
3477 Shepherds Path Decatur, GA	2.0	2.0	1200	$1,200	$1.00	43d	1	0.08mi
100 Woodberry Pl Decatur, GA	1.0–3.0	1.0–2.0	1106	$1,761	$1.59	1d	18	0.14mi
3604 Spring Trce Decatur, GA	3.0	2.5	1806	$1,595	$0.88	43d	1	0.28mi
4060 Waldrop Hills Dr Decatur, GA	3.0	2.5	1696	$1,920	$1.13	15d	1	0.43mi
4210 Waldrop Hills Ter Decatur, GA	3.0	2.5	1200	$1,666	$1.39	43d	1	0.62mi
3607 Brycewood Dr Decatur, GA	3.0	2.5	1500	$2,150	$1.43	24d	1	0.62mi
3607 Brycewood Dr Decatur, GA	3.0	3.0	1515	$2,150	$1.42	43d	1	0.62mi
3605 Brycewood Dr Decatur, GA	3.0	2.5	1500	$2,150	$1.43	24d	1	0.63mi
3605 Brycewood Dr Decatur, GA	3.0	3.0	1515	$2,150	$1.42	43d	1	0.63mi
3601 Brycewood Dr Decatur, GA	3.0	2.5	1500	$2,150	$1.43	24d	1	0.64mi
3601 Brycewood Dr Decatur, GA	3.0	2.5	1515	$2,150	$1.42	43d	1	0.64mi
3583 Brycewood Dr Decatur, GA	3.0	2.5	1461	$2,150	$1.47	43d	1	0.66mi
3577 Brycewood Dr Decatur, GA	3.0	2.5	1501	$1,950	$1.30	43d	1	0.66mi
3166 Big Springs Ct Decatur, GA	3.0	2.0	1493	$1,900	$1.27	43d	1	0.82mi
3460 Boring Rd Decatur, GA	3.0	2.0	1855	$1,900	$1.02	24d	1	0.83mi
3554 Waldrop Rd Decatur, GA	3.0	2.5	1646	$2,135	$1.30	2d	1	0.85mi
3733 Waldrop Hills Dr Decatur, GA	3.0	2.5	1646	$2,023	$1.23	43d	1	0.89mi
3715 Boring Rd Decatur, GA	3.0	2.0	1379	$1,525	$1.11	21d	1	1.05mi
3716 Cress Way Dr Decatur, GA	4.0	2.5	1669	$2,185	$1.31	5d	1	1.12mi
3516 Kingswood Run Unit 1 Decatur, GA	2.0	2.0	988	$1,500	$1.52	24d	1	1.12mi
3754 Waldrop Ln Decatur, GA	3.0	2.5	1560	$1,625	$1.04	43d	1	1.15mi
3804 Waldrop Ln Decatur, GA	3.0	2.5	1412	$1,850	$1.31	24d	1	1.18mi
3798 Waldrop Ln Decatur, GA	3.0	2.5	1412	$1,680	$1.19	20d	1	1.19mi
3821 River Rd Ellenwood, GA	3.0	2.0	1455	$2,195	$1.51	43d	1	1.21mi
3924 Chimney Ridge Ct Ellenwood, GA	3.0	2.0	1252	$2,000	$1.60	43d	1	1.23mi
3189 Kingswood Gln Decatur, GA	2.0	2.5	1152	$2,100	$1.82	43d	1	1.25mi
3364 Waldrop Trl Decatur, GA	3.0	3.0	1200	$1,800	$1.50	43d	1	1.27mi
3169 Kingswood Gln Decatur, GA	3.0	2.5	1560	$1,575	$1.01	43d	1	1.28mi
3326 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,761	$1.13	20d	1	1.29mi
4068 Day Trl S Ellenwood, GA	4.0	2.0	1836	$2,100	$1.14	4d	1	1.29mi
3319 Waldrop Trl Decatur, GA	3.0	2.5	1600	$1,600	$1.00	18d	1	1.34mi
3906 Waldrop Ln Decatur, GA	3.0	2.5	1560	$1,700	$1.09	43d	1	1.35mi
3914 Waldrop Ln Decatur, GA	3.0	3.0	1560	$1,697	$1.09	3d	1	1.37mi
3328 River Run Trl Decatur, GA	3.0	2.0	1665	$1,981	$1.19	1d	1	1.38mi
3525 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,695	$1.09	21d	1	1.44mi
3516 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,800	$1.15	43d	1	1.46mi
3321 Peppertree Cir Decatur, GA	1.0–3.0	1.0	813	$1,299	$1.60	20d	31	1.46mi
3474 Waldrop Trl Decatur, GA	3.0	2.5	1412	$800	$0.57	43d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $125,000 Active 242 DOM
2. 2026-06-17
   days on market $125,000 Active 241 DOM
3. 2026-06-16
   days on market $125,000 Active 240 DOM
4. 2026-06-15
   days on market $125,000 Active 239 DOM
5. 2026-06-13
   days on market $125,000 Active 237 DOM
6. 2026-06-09
   days on market $125,000 Active 233 DOM
7. 2026-06-08
   days on market $125,000 Active 232 DOM
8. 2026-06-07
   days on market $125,000 Active 231 DOM
9. 2026-06-04
   days on market $125,000 Active 228 DOM
10. 2026-06-03
    days on market $125,000 Active 227 DOM
11. 2026-06-02
    days on market $125,000 Active 226 DOM
12. 2026-06-01
    days on market $125,000 Active 225 DOM
13. 2026-05-31
    days on market $125,000 Active 224 DOM
14. 2026-03-31
    price $1,695
15. 2025-11-11
    status Back On Market 373-char remark

    Show marketing remark (373 chars)

    RARE 3 bedroom, single level condo on bottom floor. Easy living at its finest with great access to schools, expressways and shopping. This home is MOVE-IN ready with newer appliances, fresh paint and all electric. The owner has rented this condo in the past but you would never know. This would be an excellent opportunity for an investor, home previously rented for $1750!

16. 2025-10-11
    listed $1,750
17. 2025-10-09
    status Under Contract 373-char remark

    Show marketing remark (373 chars)

    RARE 3 bedroom, single level condo on bottom floor. Easy living at its finest with great access to schools, expressways and shopping. This home is MOVE-IN ready with newer appliances, fresh paint and all electric. The owner has rented this condo in the past but you would never know. This would be an excellent opportunity for an investor, home previously rented for $1750!

18. 2025-09-16
    listed $125,000 New 373-char remark

    Show marketing remark (373 chars)

    RARE 3 bedroom, single level condo on bottom floor. Easy living at its finest with great access to schools, expressways and shopping. This home is MOVE-IN ready with newer appliances, fresh paint and all electric. The owner has rented this condo in the past but you would never know. This would be an excellent opportunity for an investor, home previously rented for $1750!

19. 2023-09-13
    historical
20. 2020-06-10
    historical
21. 2020-05-16
    listed $65,000 New
22. 2018-09-25
    historical
23. 2018-07-30
    listed $69,500 New
24. 2018-07-26
    historical
25. 2018-07-24
    listed $75,000 New
26. 1997-02-05
    soldstatus $72,500
27. 1995-07-18
    soldstatus $64,900

ⓘ 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: $1,608 · $134/mo
• Projected year-2 tax: $1,608 · $134/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 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: $21,713
• − Mortgage interest: −$7,002
• − Property taxes: −$1,608
• − Insurance: −$625
• − Repairs & maintenance: −$1,737
• − Management: −$1,737
• − HOA: −$3,612
• − Depreciation: −$3,636
• Taxable income: $1,755
• Est. tax owed @ 24.0%: −$421
• After-tax cash flow: $3,020/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 — Panthersville

• Score: 66/100
• State rank: #180
• US rank: #11244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dekalb County · 782,738 people
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 41,847
• Household income: $63,517
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1659.0

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 (90%)
• Race & ethnicity: Black 90% White 4% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Hispanic 1% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 93% English-only · Spanish 2% French/Haitian/Cajun 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: ▼ -78.92%
• Current HPI: 209.5638
• Rent YoY: ▲ 2.18%
• 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

-97.4% since first listed

14 events — show timeline

• 2026-03-31 Price Changed $1,695 GAMLS
• 2025-11-11 Relisted — GAMLS
• 2025-10-11 Listed for Rent $1,750 GAMLS
• 2025-10-09 Pending — GAMLS
• 2025-09-16 Listed $125,000 GAMLS
• 2023-09-13 Rental Removed — GAMLS
• 2020-06-10 Listing Removed — GAMLS
• 2020-05-16 Listed $65,000 GAMLS
• 2018-09-25 Listing Removed — GAMLS
• 2018-07-30 Listed $69,500 GAMLS
• 2018-07-26 Listing Removed — GAMLS
• 2018-07-24 Listed $75,000 GAMLS
• 1997-02-05 Sold (Public Records) $72,500 Public Records
• 1995-07-18 Sold (Public Records) $64,900 Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,608 · -18.4% YoY. Source: county tax records.