125 Governors Dr · Forest Park, GA 30297

$130,000

3 bd · 3.0 ba · 1,431 sqft · Condo public records · 103 Days on market

Built 1973 $91/sqft · 8% below area Est $142k · 8% under $170/mo HOA · 11% of rent

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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 +19.7/30.0
• ARV discount +11.3/15.0
• 1% rule +6.4/10.0
• DSCR +6.2/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special - cash or conventional only condo with strong potential in a prime Forest Park location! Attention investors! This condo is a fantastic opportunity for a savvy buyer looking to add to their rental portfolio or complete a light value-add project. Being sold **as-is, cash or conventional only**, this unit has already had partial renovations completed, including updated laminate flooring, fresh paint, and tile work in the bathrooms-giving you a solid head start. While additional repairs are needed, the potential upside makes this a great investment opportunity. Conveniently located just minutes from the highway, downtown Forest Park, and the Atlanta State Farmers Market, this property offers easy access to shopping, dining, and major commuter routes-an attractive feature for future tenants. If you're looking for your next project in a growing, well-connected area, this is one you won't want to miss!

Key facts

• Fresh paint
• $170 HOA
• Community pool

Tags

• PRIME FOREST PARK LOCATION
• UPDATED LAMINATE FLOORING
• FRESH PAINT
• TILE WORK IN THE BATHROOMS
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 5.2% in Forest Park — 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 65/100 on livability (#209 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools F, crime F, commute F.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.0%/yr); 128 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• This rent runs 40% of the median local income ($45k/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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; list at $130k implies a 183% gain — meaningful room to come down on a strong offer.

Recommended offer $118,300 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.14% ✓
• Cap rate: 7.70%
• Cash-on-cash: 5.02%
• DSCR: 1.22
• GRM: 7.3

CMA / ARV

• ARV (median comp): $142,062
• List price: $130,000
• Delta: -8.49%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.57×
• Total profit: $-15,617
• Equity at exit: $19,383

10-year hold

• IRR: -9.2%
• Equity multiple: 0.52×
• Total profit: $-17,536
• Equity at exit: $11,240

Cash invested: $36,400 (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 30297

• Home prices YoY: -29.5%
• Rents YoY: -1.0%
• Active inventory: 128
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,486 high
• Mortgage (P&I): −$682
• Tax from tax record: −$116 /mo · $1,391/yr
• Insurance: −$54
• HOA: −$170
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $152

Break-even live

Break-even rent $1,293

Max offer price $130,000

Occupancy floor 85%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4880 Hale Rd Unit B Forest Park, GA	2.0	1.0	1000	$895	$0.90	24d	1	0.12mi
514 Bridge Ave Apt D6 Forest Park, GA	1.0–2.0	1.0	800	$1,203	$1.50	15d	4	0.20mi
433 North Ave Unit 433 Forest Park, GA	3.0	2.5	1694	$1,995	$1.18	4d	1	0.24mi
351 Kate Dr Forest Park, GA	3.0	2.5	1415	$1,524	$1.08	11d	1	0.30mi
521 Granade Dr Forest Park, GA	3.0	2.0	1024	$2,400	$2.34	5d	1	0.35mi
676 Bridge Ave Forest Park, GA	2.0	1.0	919	$1,206	$1.31	24d	1	0.53mi
4560 Burks Rd Forest Park, GA	2.0	1.0	952	$1,350	$1.42	44d	1	0.74mi
4711 Waldrop Dr Unit W-L05 Forest Park, GA	2.0	1.0	1100	$1,295	$1.18	44d	1	0.77mi
774 South Ave Forest Park, GA	3.0	2.0	1041	$1,825	$1.75	4d	1	0.77mi
4663 Waldrop Dr Forest Park, GA	2.0	2.0	925	$1,095	$1.18	21d	1	0.81mi
421 Springside Dr Forest Park, GA	3.0	1.5	1764	$1,750	$0.99	44d	1	0.94mi
828 Catherine St Forest Park, GA	3.0	1.0	1040	$1,440	$1.38	44d	1	1.02mi
573 Evergreen Ter Unit 2 Forest Park, GA	2.0	1.0	900	$1,150	$1.28	44d	1	1.05mi
969 Forest Ave Forest Park, GA	1.0–2.0	1.0	875	$1,300	$1.49	24d	1	1.11mi
4404 Currie Ct Forest Park, GA	3.0	2.0	1188	$1,595	$1.34	44d	1	1.11mi
575 Springwood Dr Forest Park, GA	2.0	1.0	1100	$1,550	$1.41	44d	1	1.14mi
5504 Moriah Ln Forest Park, GA	3.0	2.0	1320	$1,699	$1.29	22d	1	1.14mi
5543 Pineridge Ct Forest Park, GA	3.0	2.5	1408	$1,595	$1.13	24d	1	1.16mi
5161 Phillips Dr Forest Park, GA	2.0	1.0	992	$1,400	$1.41	24d	1	1.17mi
4735 Courtney Dr Forest Park, GA	1.0–2.0	1.0–1.5	800	$1,150	$1.44	17d	5	1.19mi
4309 Gilbert Pl Forest Park, GA	4.0	2.0	1660	$1,981	$1.19	4d	1	1.23mi
4241 Hendrix Dr Forest Park, GA	2.0	1.5	1050	$1,224	$1.17	2d	5	1.31mi
729 Blueridge Dr Forest Park, GA	3.0	1.0	1150	$1,505	$1.31	5d	1	1.45mi
5598 Ash St Forest Park, GA	3.0	1.0	976	$1,500	$1.54	24d	1	1.47mi
4168 Tara Dr Forest Park, GA	3.0	1.0	975	$1,299	$1.33	44d	1	1.48mi

HOA detail condo

• Monthly dues: $170 · $2,040/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-03
   status $130,000 Under Contract 103 DOM
2. 2026-06-02
   days on market $130,000 Active 103 DOM
3. 2026-06-01
   days on market $130,000 Active 102 DOM
4. 2026-05-31
   days on market $130,000 Active 101 DOM
5. 2026-03-05
   price $130,000 929-char remark

   Show marketing remark (929 chars)

   Investor special - cash or conventional only condo with strong potential in a prime Forest Park location! Attention investors! This condo is a fantastic opportunity for a savvy buyer looking to add to their rental portfolio or complete a light value-add project. Being sold **as-is, cash or conventional only**, this unit has already had partial renovations completed, including updated laminate flooring, fresh paint, and tile work in the bathrooms-giving you a solid head start. While additional repairs are needed, the potential upside makes this a great investment opportunity. Conveniently located just minutes from the highway, downtown Forest Park, and the Atlanta State Farmers Market, this property offers easy access to shopping, dining, and major commuter routes-an attractive feature for future tenants. If you're looking for your next project in a growing, well-connected area, this is one you won't want to miss!

6. 2026-02-19
   listed $140,000 New 929-char remark

   Show marketing remark (929 chars)

   Investor special - cash or conventional only condo with strong potential in a prime Forest Park location! Attention investors! This condo is a fantastic opportunity for a savvy buyer looking to add to their rental portfolio or complete a light value-add project. Being sold **as-is, cash or conventional only**, this unit has already had partial renovations completed, including updated laminate flooring, fresh paint, and tile work in the bathrooms-giving you a solid head start. While additional repairs are needed, the potential upside makes this a great investment opportunity. Conveniently located just minutes from the highway, downtown Forest Park, and the Atlanta State Farmers Market, this property offers easy access to shopping, dining, and major commuter routes-an attractive feature for future tenants. If you're looking for your next project in a growing, well-connected area, this is one you won't want to miss!

7. 2019-12-09
   soldstatus $46,000
8. 2019-12-07
   soldstatus $46,000 Sold 233-char remark

   Show marketing remark (233 chars)

   Great location! Great Investment Opportunity! Foyer entry, Living/Dining Rm combo, Kitchen and half bath on the main. Upstairs features Master bed w/Private bath, 2 Secondary Bedrooms and Full Hall bath. Fenced back yard for privacy.

9. 2019-10-21
   status Under Contract 233-char remark

   Show marketing remark (233 chars)

   Great location! Great Investment Opportunity! Foyer entry, Living/Dining Rm combo, Kitchen and half bath on the main. Upstairs features Master bed w/Private bath, 2 Secondary Bedrooms and Full Hall bath. Fenced back yard for privacy.

10. 2019-10-21
    status Pending Offer Approval 233-char remark

    Show marketing remark (233 chars)

    Great location! Great Investment Opportunity! Foyer entry, Living/Dining Rm combo, Kitchen and half bath on the main. Upstairs features Master bed w/Private bath, 2 Secondary Bedrooms and Full Hall bath. Fenced back yard for privacy.

11. 2019-10-10
    listed $49,900 New 233-char remark

    Show marketing remark (233 chars)

    Great location! Great Investment Opportunity! Foyer entry, Living/Dining Rm combo, Kitchen and half bath on the main. Upstairs features Master bed w/Private bath, 2 Secondary Bedrooms and Full Hall bath. Fenced back yard for privacy.

12. 2019-07-17
    historical
13. 2019-07-17
    status Back on Market
14. 2019-05-13
    status Under Contract
15. 2019-05-10
    status Pending Offer Approval
16. 2019-05-01
    status Back on Market
17. 2019-04-28
    historical
18. 2019-04-15
    status Back on Market
19. 2019-04-05
    status Under Contract
20. 2019-03-29
    status Pending Offer Approval
21. 2019-03-11
    status Back on Market
22. 2019-02-21
    status Under Contract
23. 2019-02-15
    price $44,900
24. 2019-02-14
    status Back on Market
25. 2018-10-29
    status Under Contract
26. 2018-10-26
    status Pending Offer Approval
27. 2018-09-27
    listed $39,900 New
28. 1988-08-25
    soldstatus $39,500
29. 1978-11-27
    soldstatus $27,000

ⓘ 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: $1,391 · $116/mo
• Projected year-2 tax: $1,391 · $116/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $17,836
• − Mortgage interest: −$7,282
• − Property taxes: −$1,391
• − Insurance: −$650
• − Repairs & maintenance: −$1,427
• − Management: −$1,427
• − HOA: −$2,040
• − Depreciation: −$3,782
• Taxable loss: −$163
• Est. tax savings @ 24.0%: +$39
• After-tax cash flow: $1,868/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: Clayton County
• NCES district ID: 1301230
• Math proficiency: 11% ▼ -13.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $42,266
• Composite: 13.41/100
• National rank: #9527
• State rank: #155 of 174 in GA

Livability — Forest Park

• Score: 65/100
• State rank: #209
• US rank: #12698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest Park, GA
• County: Clayton County · 230,153 people
• City population: 29,210
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 29,210
• Household income: $45,124
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 1359.0

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 310,777 people
• By 2030: 329,762 · +6.1%
• By 2040: 368,052 · +18.4%
• By 2050: 401,196 · +29.1%
• By 2075: 472,488 · +52.0%
• By 2100: 500,446 · +61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 52% Hispanic / Latino 27% White 10% Two or more races 10% Asian 6%
• Hispanic origin (detail): Mexican 19%
• Foreign-born: 18% · Canada, Vietnam, Jamaica
• Languages at home: 67% English-only · Spanish 26% Vietnamese 5% Other Asian/Pacific 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid D (+69.2) · D 84.3% · R 15.1%
• 2008→2024 swing: +2.8pp toward D · 2008: 66.4pp · 2024: 69.2pp
• All cycles: 2024: D+69.2 2020: D+70.9 2016: D+71.9 2012: D+70.1 2008: D+66.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.04%
• Current HPI: 229.5016
• Rent YoY: ▼ -0.96%
• 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

+381.5% since first listed

25 events — show timeline

• 2026-03-05 Price Changed $130,000 GAMLS
• 2026-02-19 Listed $140,000 GAMLS
• 2019-12-09 Sold (Public Records) $46,000 Public Records
• 2019-12-07 Sold (MLS) $46,000 GAMLS
• 2019-10-21 Pending — GAMLS
• 2019-10-21 Pending — GAMLS
• 2019-10-10 Listed $49,900 GAMLS
• 2019-07-17 Listing Removed — GAMLS
• 2019-07-17 Relisted — GAMLS
• 2019-05-13 Pending — GAMLS
• 2019-05-10 Pending — GAMLS
• 2019-05-01 Relisted — GAMLS
• 2019-04-28 Listing Removed — GAMLS
• 2019-04-15 Relisted — GAMLS
• 2019-04-05 Pending — GAMLS
• 2019-03-29 Pending — GAMLS
• 2019-03-11 Relisted — GAMLS
• 2019-02-21 Pending — GAMLS
• 2019-02-15 Price Changed $44,900 GAMLS
• 2019-02-14 Relisted — GAMLS
• 2018-10-29 Pending — GAMLS
• 2018-10-26 Pending — GAMLS
• 2018-09-27 Listed $39,900 GAMLS
• 1988-08-25 Sold (Public Records) $39,500 Public Records
• 1978-11-27 Sold (Public Records) $27,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,391 · +8.0% YoY. Source: county tax records.