5551 Mountain Springs Cir · Redan, GA 30088

$110,000

2 bd · 2.0 ba · 1,566 sqft · Condo public records · 73 Days on market

Built 1985 $70/sqft · 46% below area Est $204k · 46% under $350/mo HOA · 19% of rent

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Why this score? — see what drove the B- 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 +25.1/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +8.2/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 2-bedroom, 2-bathroom basement-level condo located in a quiet, wooded community in Stone Mountain. This well-maintained unit features a spacious open-concept living and dining area with abundant natural light, a cozy fireplace, and durable flooring throughout. The kitchen offers ample cabinet space and a functional layout with a view into the living area. Enjoy peaceful surroundings and outdoor living with access to a rear deck overlooking mature trees-perfect for relaxing or entertaining. Generously sized bedrooms and a practical floor plan make this home ideal for first-time buyers, downsizers, or investors. Conveniently located near shopping, dining, and major highways.

Key facts

• Open concept living
• Ample cabinet space
• Basement level condo

Tags

• BASEMENT LEVEL CONDO
• QUIET WOODED COMMUNITY
• OPEN CONCEPT LIVING
• AMPLE CABINET SPACE
• REAR DECK
• OUTDOOR LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 rising (+3.7%/yr); 215 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 31% of the median local income ($70k/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 $761 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 5y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $110k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% 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 $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
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 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: 1.63% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.53%
• DSCR: 1.42
• GRM: 5.1

CMA / ARV

• ARV (median comp): $203,885
• List price: $110,000
• Delta: -46.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-651
• Equity at exit: $16,401

10-year hold

• IRR: 10.3%
• Equity multiple: 1.85×
• Total profit: $26,098
• Equity at exit: $9,511

Cash invested: $30,800 (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 30088

• Rents YoY: 3.7%
• Active inventory: 215
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,796 high
• Mortgage (P&I): −$577
• Tax from tax record: −$202 /mo · $2,421/yr
• Insurance: −$46
• HOA: −$350
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $245

Break-even live

Break-even rent $1,487

Max offer price $110,000

Occupancy floor 81%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5518 Mountain Springs Cir Stone Mountain, GA	1.0	1.0	1946	$795	$0.41	19d	1	0.08mi
5518 Mountain Springs Cir Stone Mountain, GA	1.0	1.0	1946	$900	$0.46	5d	1	0.08mi
5799 Redan Rd Stone Mountain, GA	3.0	2.0	1546	$1,490	$0.96	24d	1	0.19mi
1487 Saint Dunstans Rd Lithonia, GA	3.0	2.5	1650	$2,023	$1.23	5d	1	0.29mi
1610 Burnstone Dr Stone Mountain, GA	3.0	2.0	1370	$1,850	$1.35	44d	1	0.44mi
1652 Downs Xing Stone Mountain, GA	3.0	2.5	1376	$1,675	$1.22	5d	1	0.51mi
1467 Muirfield Dr Stone Mountain, GA	3.0	2.0	1630	$1,870	$1.15	22d	1	0.68mi
1724 Laurel Creek Cir Lithonia, GA	3.0	2.5	1558	$1,935	$1.24	13d	1	0.74mi
1717 Panola Rd Stone Mountain, GA	3.0–4.0	2.5	2107	$2,369	$1.12	1d	97	0.75mi
5734 Lanny Ln Lithonia, GA	3.0	2.0	1589	$1,800	$1.13	24d	1	0.76mi
5349 Tracey Dr Stone Mountain, GA	3.0	2.0	1188	$1,975	$1.66	17d	1	0.78mi
5349 Tracey Dr Stone Mountain, GA	3.0	2.0	1188	$1,975	$1.66	44d	1	0.78mi
5739 Hilton Ridge Rd Lithonia, GA	3.0	2.5	2000	$1,820	$0.91	2d	1	0.78mi
5486 Fox Valley Ln Stone Mountain, GA	3.0	2.5	1536	$1,850	$1.20	20d	1	1.00mi
1893 Gingham Way Lithonia, GA	3.0	2.0	1144	$1,730	$1.51	17d	1	1.00mi
1815 Herringbone Holw Lithonia, GA	3.0	2.0	1812	$1,750	$0.97	44d	1	1.08mi
1874 Vauxhall Dr Lithonia, GA	3.0	2.0	1367	$1,595	$1.17	3d	1	1.12mi
1964 Taffeta Trl Lithonia, GA	3.0	2.0	1508	$1,870	$1.24	20d	1	1.14mi
5579 Marbut Rd Lithonia, GA	3.0	2.5	1280	$1,850	$1.45	44d	1	1.21mi
982 Chapman Cir Stone Mountain, GA	3.0	2.0	1476	$2,000	$1.36	1d	1	1.26mi
1338 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1844	$1,900	$1.03	2d	1	1.34mi
2005 Marbut Forest Dr Lithonia, GA	3.0	2.0	1556	$1,900	$1.22	5d	1	1.35mi
1373 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1296	$1,773	$1.37	24d	1	1.41mi
1401 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1320	$1,675	$1.27	13d	1	1.45mi
1228 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1344	$1,645	$1.22	44d	1	1.46mi
4935 Millstone Walk Stone Mountain, GA	3.0	2.5	1248	$1,950	$1.56	5d	1	1.46mi
5536 Downs Way Lithonia, GA	3.0	2.0	1400	$1,600	$1.14	44d	1	1.46mi
811 King Rd Stone Mountain, GA	3.0	3.0	1840	$3,300	$1.79	44d	1	1.49mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 47 events

1. 2026-06-18
   days on market $110,000 Active 73 DOM
2. 2026-06-17
   days on market $110,000 Active 72 DOM
3. 2026-06-16
   days on market $110,000 Active 71 DOM
4. 2026-06-15
   days on market $110,000 Active 70 DOM
5. 2026-06-13
   days on market $110,000 Active 68 DOM
6. 2026-06-09
   days on market $110,000 Active 64 DOM
7. 2026-06-08
   days on market $110,000 Active 63 DOM
8. 2026-06-07
   days on market $110,000 Active 62 DOM
9. 2026-06-04
   pricedays on market $110,000 Active 59 DOM
10. 2026-06-03
    days on market $120,000 Active 58 DOM
11. 2026-06-02
    days on market $120,000 Active 57 DOM
12. 2026-06-01
    days on market $120,000 Active 56 DOM
13. 2026-05-31
    days on market $120,000 Active 55 DOM
14. 2026-04-04
    listed $120,000 New 694-char remark

    Show marketing remark (700 chars)

    Beautiful 2-bedroom, 2-bathroom basement-level condo located in a quiet, wooded community in Stone Mountain. This well-maintained unit features a spacious open-concept living and dining area with abundant natural light, a cozy fireplace, and durable flooring throughout. The kitchen offers ample cabinet space and a functional layout with a view into the living area. Enjoy peaceful surroundings and outdoor living with access to a rear deck overlooking mature trees—perfect for relaxing or entertaining. Generously sized bedrooms and a practical floor plan make this home ideal for first-time buyers, downsizers, or investors. Conveniently located near shopping, dining, and major highways.

15. 2026-04-04
    listed $120,000 Active 700-char remark

    Show marketing remark (700 chars)

    Beautiful 2-bedroom, 2-bathroom basement-level condo located in a quiet, wooded community in Stone Mountain. This well-maintained unit features a spacious open-concept living and dining area with abundant natural light, a cozy fireplace, and durable flooring throughout. The kitchen offers ample cabinet space and a functional layout with a view into the living area. Enjoy peaceful surroundings and outdoor living with access to a rear deck overlooking mature trees—perfect for relaxing or entertaining. Generously sized bedrooms and a practical floor plan make this home ideal for first-time buyers, downsizers, or investors. Conveniently located near shopping, dining, and major highways.

16. 2024-12-05
    historical
17. 2024-12-05
    historical
18. 2024-10-02
    listed $120,000 Active
19. 2024-10-02
    listed $120,000 New
20. 2024-09-03
    historical
21. 2024-08-31
    historical
22. 2024-08-07
    price $130,000
23. 2024-08-07
    price $130,000
24. 2024-06-25
    price $135,000
25. 2024-06-25
    price $135,000
26. 2024-06-20
    price $140,000
27. 2024-06-03
    price $140,000
28. 2024-05-22
    historical
29. 2024-05-17
    listed $150,000 Active
30. 2024-05-17
    listed $150,000 New
31. 2024-05-17
    historical
32. 2024-04-19
    listed $150,000 New
33. 2024-04-19
    listed $150,000 Active
34. 2021-11-19
    soldstatus $60,000
35. 2021-11-11
    soldstatus $60,000 Sold
36. 2021-10-13
    status Under Contract
37. 2021-10-13
    historical
38. 2021-10-06
    status Under Contract
39. 2021-10-06
    status Active
40. 2021-10-06
    status Under Contract
41. 2021-09-29
    price $74,900
42. 2021-09-17
    price $79,000
43. 2021-08-12
    price $84,000
44. 2021-08-07
    listed $99,000 New
45. 1991-06-11
    soldstatus $41,900
46. 1987-08-28
    soldstatus $60,400
47. 1986-01-06
    soldstatus $57,500

ⓘ 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: $2,421 · $202/mo
• Projected year-2 tax: $2,421 · $202/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 5/10 Major 25% 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: $21,555
• − Mortgage interest: −$6,162
• − Property taxes: −$2,421
• − Insurance: −$550
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − HOA: −$4,200
• − Depreciation: −$3,200
• Taxable income: $1,574
• Est. tax owed @ 24.0%: −$378
• After-tax cash flow: $2,558/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

• Census place: Redan, GA
• County: Dekalb County · 782,738 people
• City population: 29,279
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 29,240
• Household income: $70,325
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1106.0

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 (84%)
• Race & ethnicity: Black 84% White 5% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Swedish 1% Russian 1%
• Foreign-born: 11% · Canada
• Languages at home: 90% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -169.92%
• Current HPI: 206.5421
• Rent YoY: ▲ 3.72%
• 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

+108.7% since first listed

34 events — show timeline

• 2026-04-04 Listed $120,000 FMLS
• 2026-04-04 Listed $120,000 GAMLS
• 2024-12-05 Listing Removed — GAMLS
• 2024-12-05 Listing Removed — FMLS
• 2024-10-02 Listed $120,000 GAMLS
• 2024-10-02 Listed $120,000 FMLS
• 2024-09-03 Listing Removed — FMLS
• 2024-08-31 Listing Removed — GAMLS
• 2024-08-07 Price Changed $130,000 GAMLS
• 2024-08-07 Price Changed $130,000 FMLS
• 2024-06-25 Price Changed $135,000 GAMLS
• 2024-06-25 Price Changed $135,000 FMLS
• 2024-06-20 Price Changed $140,000 GAMLS
• 2024-06-03 Price Changed $140,000 FMLS
• 2024-05-22 Listing Removed — GAMLS
• 2024-05-17 Listing Removed — FMLS
• 2024-05-17 Listed $150,000 GAMLS
• 2024-05-17 Listed $150,000 FMLS
• 2024-04-19 Listed $150,000 FMLS
• 2024-04-19 Listed $150,000 GAMLS
• 2021-11-19 Sold (Public Records) $60,000 Public Records
• 2021-11-11 Sold (MLS) $60,000 GAMLS
• 2021-10-13 Pending — GAMLS
• 2021-10-13 Listing Removed — GAMLS
• 2021-10-06 Pending — GAMLS
• 2021-10-06 Relisted — GAMLS
• 2021-10-06 Pending — GAMLS
• 2021-09-29 Price Changed $74,900 GAMLS
• 2021-09-17 Price Changed $79,000 GAMLS
• 2021-08-12 Price Changed $84,000 GAMLS
• 2021-08-07 Listed $99,000 GAMLS
• 1991-06-11 Sold (Public Records) $41,900 Public Records
• 1987-08-28 Sold (Public Records) $60,400 Public Records
• 1986-01-06 Sold (Public Records) $57,500 Public Records

Property tax history

+18.1%/yr

Latest (2025): $2,421 · +28.2% YoY. Source: county tax records.