2623 Wellington Walk Pl · Redan, GA 30058

$140,000

2 bd · 2.5 ba · 1,517 sqft · Townhouse public records · 80 Days on market

Built 2006 3,484 sqft lot $92/sqft · 21% below area Est $177k · 21% under $35/mo HOA · 2% of rent ↓ 20% since listing

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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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained 2-bedroom, 2-bath townhome located in the sought-after Wellington Walk community. This property features an open-concept floor plan with a spacious living area, fireplace, and a fully kitchen equipped with all appliances including washer/dryer and ample cabinet space. This home features two large owner's suites both with walk-in closet and a private bath. Enjoy a private patio for outdoor relaxation or entertaining that is already fenced in. Conveniently located near shopping, dining, schools, and major highways. Move-in ready and ideal for homeowners, roomies, or investors.

Key facts

• Spacious living area
• Private patio
• Ample cabinet space

Tags

• OPEN-CONCEPT FLOOR PLAN
• SPACIOUS LIVING AREA
• FULLY EQUIPPED KITCHEN
• AMPLE CABINET SPACE
• PRIVATE PATIO
• FENCED IN PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 (+1.2%/yr); 435 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 ($62k/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 $968 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.
• At projected returns (-3.0% appreciation + 1.2% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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. 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: 1.28% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.73%
• DSCR: 1.70
• GRM: 6.5

CMA / ARV

• ARV (median comp): $177,209
• List price: $140,000
• Delta: -21.00%
• 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
6394 Kennonbriar Ct	0.25mi	2/2.5	1,514 (-0%)	7mo	$220,000	$145	82
6386 Kennonbriar Ct	0.23mi	3/2.5 (+1)	1,514 (-0%)	8mo	$210,000	$139	77
6416 Kennonbriar Ct	0.28mi	3/2.5 (+1)	1,514 (-0%)	10mo	$224,900	$149	74
2292 Wellington Cir	0.17mi	2/2.0	1,323 (-13%)	0mo	$183,000	$138	69
6450 Wellington Chase Ct	0.31mi	3/2.0 (+1)	1,547 (+2%)	13mo	$198,400	$128	64
2381 Cove Rd	0.17mi	2/2.0	1,296 (-15%)	3mo	$176,000	$136	63
2176 Wellington Cir	0.23mi	2/2.0	1,296 (-15%)	0mo	$95,000	$73	62
2263 Wellington Cir	0.21mi	2/2.0	1,296 (-15%)	2mo	$177,000	$137	62
2254 Wellington Cir	0.25mi	3/2.0 (+1)	1,404 (-7%)	9mo	$164,000	$117	62
6502 Wellington Chase Ct	0.41mi	3/2.0 (+1)	1,547 (+2%)	11mo	$197,500	$128	61
2341 Wellington Cir	0.12mi	2/2.0	1,308 (-14%)	12mo	$180,000	$138	59
849 Hillandale Ln	0.49mi	2/2.5	1,355 (-11%)	1mo	$215,000	$159	59

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 · 1.18% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.17×
• Total profit: $6,816
• Equity at exit: $20,874

10-year hold

• IRR: 12.4%
• Equity multiple: 1.90×
• Total profit: $35,305
• Equity at exit: $12,105

Cash invested: $39,200 (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 30058

• Home prices YoY: -21.4%
• Rents YoY: 1.2%
• Active inventory: 435
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,786 high
• Mortgage (P&I): −$734
• Tax from tax record: −$70 /mo · $834/yr
• Insurance: −$58
• HOA: −$35
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $514

Break-even live

Break-even rent $1,135

Max offer price $140,000

Occupancy floor 66%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2360 Wellington Cir Lithonia, GA	3.0	2.5	1404	$1,900	$1.35	43d	1	0.12mi
6272 Creekford Dr Lithonia, GA	3.0	2.0	1200	$1,650	$1.38	5d	1	0.19mi
6249 Creekford Ln Lithonia, GA	3.0	2.5	1352	$1,586	$1.17	43d	1	0.23mi
2330 McKenna Square Dr Lithonia, GA	3.0	2.5	1514	$2,075	$1.37	24d	1	0.24mi
6229 Creekford Ln Lithonia, GA	3.0	2.0	2086	$1,855	$0.89	2d	1	0.26mi
6427 Wellington Chase Ct Lithonia, GA	2.0	2.5	1258	$1,695	$1.35	21d	1	0.28mi
6427 Wellington Chase Ct Lithonia, GA	2.0	2.5	1258	$1,640	$1.30	5d	1	0.28mi
6540 Wellington Chase Ct Lithonia, GA	3.0	2.0	1250	$1,800	$1.44	24d	1	0.34mi
6495 Wellington Chase Ct Lithonia, GA	2.0	1.0	1533	$950	$0.62	43d	1	0.37mi
6290 Marbut Farms Ln Lithonia, GA	3.0	2.5	1392	$1,780	$1.28	5d	1	0.50mi
3028 Stonebridge Creek Dr Lithonia, GA	3.0	2.0	1713	$1,739	$1.02	16d	1	0.55mi
2267 Cherokee Valley Dr Lithonia, GA	3.0	2.0	1176	$1,691	$1.44	5d	1	0.56mi
3010 Stonebridge Creek Dr Lithonia, GA	3.0	2.5	1623	$1,750	$1.08	43d	1	0.58mi
564 Hillandale Park Dr Lithonia, GA	2.0	2.0	1150	$2,250	$1.96	43d	1	0.58mi
6414 Shalks Crossing Dr Lithonia, GA	3.0	2.5	1580	$2,050	$1.30	5d	1	0.60mi
2144 Marbut Farms Entry Lithonia, GA	3.0	2.0	1715	$1,795	$1.05	43d	1	0.61mi
6258 Marbut Farms Ter Lithonia, GA	3.0	2.0	2016	$1,646	$0.82	24d	1	0.64mi
6256 Hillandale Dr Lithonia, GA	1.0–3.0	1.0–2.0	990	$1,349	$1.36	43d	1	0.64mi
6164 Saint Christophers Ct Lithonia, GA	3.0	2.5	1340	$1,730	$1.29	20d	1	0.66mi
2839 Rambling Way Lithonia, GA	3.0	2.5	1623	$1,700	$1.05	1d	1	0.67mi
2839 Rambling Way Lithonia, GA	3.0	2.5	1623	$1,700	$1.05	18d	1	0.67mi
2070 Corners Cir Lithonia, GA	3.0	2.0	1392	$1,620	$1.16	24d	1	0.73mi
2103 Charles Cudd Ct Lithonia, GA	3.0	2.0	1332	$1,591	$1.19	20d	1	0.74mi
6250 Hillandale Dr Lithonia, GA	1.0–4.0	1.0–2.0	1121	$1,325	$1.18	43d	1	0.76mi
416 Hillandale Park Dr Lithonia, GA	3.0	2.5	1742	$1,759	$1.01	43d	1	0.78mi
2614 Parkway Trl Lithonia, GA	3.0	2.0	1428	$1,795	$1.26	5d	1	0.78mi
2671 Parkway Trl Lithonia, GA	2.0	2.5	1504	$1,850	$1.23	17d	1	0.78mi
2379 Hillvale Cir Lithonia, GA	3.0	2.0	1368	$1,790	$1.31	5d	1	0.78mi
6012 Wellborn Trl Lithonia, GA	3.0	2.0	1510	$1,760	$1.17	1d	1	0.79mi
5975 Hillvale Trl Lithonia, GA	3.0	2.0	1616	$1,900	$1.18	43d	1	0.84mi
5946 Crescent Ridge Ct Lithonia, GA	3.0	2.0	1278	$1,725	$1.35	5d	1	0.86mi
6012 Regent Mnr Lithonia, GA	2.0	2.0	1200	$1,450	$1.21	43d	1	0.86mi
5975 Wellborn Trl Lithonia, GA	3.0	2.0	2035	$2,011	$0.99	15d	1	0.86mi
6067 Regent Mnr Lithonia, GA	3.0	2.5	1524	$1,700	$1.12	43d	1	0.87mi
6158 Raintree Bnd Lithonia, GA	3.0	2.0	1429	$1,856	$1.30	5d	1	0.88mi
2049 Charter Ln Lithonia, GA	2.0	3.0	1152	$1,695	$1.47	43d	1	0.92mi
2073 Raintree Pl Lithonia, GA	3.0	2.5	1439	$2,000	$1.39	24d	1	0.94mi
2073 Raintree Pl Lithonia, GA	3.0	2.5	1439	$2,000	$1.39	3d	1	0.94mi
6426 Charter Way Lithonia, GA	2.0	2.5	1166	$1,700	$1.46	43d	1	0.98mi
6430 Charter Way Lithonia, GA	3.0	2.0	1170	$1,450	$1.24	24d	1	0.98mi

HOA detail

• Monthly dues: $35 · $420/yr

Listing history 22 events

1. 2026-06-18
   days on market $140,000 Active 80 DOM
2. 2026-06-17
   days on market $140,000 Active 79 DOM
3. 2026-06-16
   days on market $140,000 Active 78 DOM
4. 2026-06-15
   days on market $140,000 Active 77 DOM
5. 2026-06-13
   days on market $140,000 Active 75 DOM
6. 2026-06-09
   days on market $140,000 Active 71 DOM
7. 2026-06-08
   days on market $140,000 Active 70 DOM
8. 2026-06-07
   days on market $140,000 Active 69 DOM
9. 2026-06-04
   days on marketlisting id $140,000 Active 66 DOM
10. 2026-06-03
    days on market $140,000 Active 65 DOM
11. 2026-06-02
    days on market $140,000 Active 64 DOM
12. 2026-06-02
    status $140,000 Active 63 DOM
13. 2026-05-18
    status Pending 597-char remark

    Show marketing remark (583 chars)

    Well-maintained 2-bedroom, 2-bath townhome located in the sought-after Wellington Walk community. This property features an open-concept floor plan with a spacious living area, fireplace, and a fully kitchen equipped with all appliances included and ample cabinet space. This home features two large owner's suites both with walk-in closet and a private bath. Enjoy a private patio for outdoor relaxation or entertaining that is already fenced in. Conveniently located near shopping, dining, schools, and major highways. Move-in ready and ideal for homeowners, roomies, or investors.

14. 2026-05-18
    status Under Contract 583-char remark

    Show marketing remark (583 chars)

    Well-maintained 2-bedroom, 2-bath townhome located in the sought-after Wellington Walk community. This property features an open-concept floor plan with a spacious living area, fireplace, and a fully kitchen equipped with all appliances included and ample cabinet space. This home features two large owner's suites both with walk-in closet and a private bath. Enjoy a private patio for outdoor relaxation or entertaining that is already fenced in. Conveniently located near shopping, dining, schools, and major highways. Move-in ready and ideal for homeowners, roomies, or investors.

15. 2026-05-13
    price $140,000 583-char remark

    Show marketing remark (597 chars)

    Well-maintained 2-bedroom, 2-bath townhome located in the sought-after Wellington Walk community. This property features an open-concept floor plan with a spacious living area, fireplace, and a fully kitchen equipped with all appliances including washer/dryer and ample cabinet space. This home features two large owner's suites both with walk-in closet and a private bath. Enjoy a private patio for outdoor relaxation or entertaining that is already fenced in. Conveniently located near shopping, dining, schools, and major highways. Move-in ready and ideal for homeowners, roomies, or investors.

16. 2026-05-13
    price $140,000 597-char remark

    Show marketing remark (597 chars)

    Well-maintained 2-bedroom, 2-bath townhome located in the sought-after Wellington Walk community. This property features an open-concept floor plan with a spacious living area, fireplace, and a fully kitchen equipped with all appliances including washer/dryer and ample cabinet space. This home features two large owner's suites both with walk-in closet and a private bath. Enjoy a private patio for outdoor relaxation or entertaining that is already fenced in. Conveniently located near shopping, dining, schools, and major highways. Move-in ready and ideal for homeowners, roomies, or investors.

17. 2026-03-15
    listed $170,000 Active 597-char remark

    Show marketing remark (583 chars)

    Well-maintained 2-bedroom, 2-bath townhome located in the sought-after Wellington Walk community. This property features an open-concept floor plan with a spacious living area, fireplace, and a fully kitchen equipped with all appliances included and ample cabinet space. This home features two large owner's suites both with walk-in closet and a private bath. Enjoy a private patio for outdoor relaxation or entertaining that is already fenced in. Conveniently located near shopping, dining, schools, and major highways. Move-in ready and ideal for homeowners, roomies, or investors.

18. 2026-03-15
    listed $170,000 New 583-char remark

    Show marketing remark (583 chars)

    Well-maintained 2-bedroom, 2-bath townhome located in the sought-after Wellington Walk community. This property features an open-concept floor plan with a spacious living area, fireplace, and a fully kitchen equipped with all appliances included and ample cabinet space. This home features two large owner's suites both with walk-in closet and a private bath. Enjoy a private patio for outdoor relaxation or entertaining that is already fenced in. Conveniently located near shopping, dining, schools, and major highways. Move-in ready and ideal for homeowners, roomies, or investors.

19. 2026-02-28
    historical
20. 2026-02-28
    historical
21. 2025-10-23
    listed $175,000 Active
22. 2025-10-23
    listed $175,000 New

ⓘ 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: $834 · $70/mo
• Projected year-2 tax: $1,288 · $107/mo
• Expected delta: +$454/yr (+$38/mo · 54.4%)

ⓘ 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 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: $21,432
• − Mortgage interest: −$7,842
• − Property taxes: −$834
• − Insurance: −$700
• − Repairs & maintenance: −$1,715
• − Management: −$1,715
• − HOA: −$420
• − Depreciation: −$4,073
• Taxable income: $4,134
• Est. tax owed @ 24.0%: −$992
• After-tax cash flow: $5,175/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): 62,614
• Household income: $61,684
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 3471.0

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% Hispanic / Latino 3% White 3% Two or more races 3%
• Common ancestry: Hispanic 0%
• Foreign-born: 12% · Canada, United Kingdom
• 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: ▼ -60.90%
• Current HPI: 224.0366
• Rent YoY: ▲ 1.18%
• 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

-20.0% since first listed

10 events — show timeline

• 2026-05-18 Pending — FMLS
• 2026-05-18 Pending — GAMLS
• 2026-05-13 Price Changed $140,000 GAMLS
• 2026-05-13 Price Changed $140,000 FMLS
• 2026-03-15 Listed $170,000 GAMLS
• 2026-03-15 Listed $170,000 FMLS
• 2026-02-28 Listing Removed — GAMLS
• 2026-02-28 Listing Removed — FMLS
• 2025-10-23 Listed $175,000 GAMLS
• 2025-10-23 Listed $175,000 FMLS

Property tax history

+1.7%/yr

Latest (2025): $834 · -6.8% YoY. Source: county tax records.