1491 S Hairston Rd · Redan, GA 30088

$159,000

2 bd · 1.0 ba · 1,309 sqft · SingleFamily public records · 489 Days on market

Built 1940 1.40 ac lot $121/sqft · 28% below area Est $222k · 28% under

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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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.5/10.0
• 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

There is a shell of a house on the property. The property has gas, electric, and public water/sewer already running to the lot. Can be subdivided. Homes are selling between $300-350k for resales in the area, new construction could sell for more. Zoned residential R3. Three miles to Indian Creek Marta Station.

Key facts

• Can be subdivided
• Zoned residential r3
• 1.4 acre lot

Tags

• GAS ELECTRIC PUBLIC WATER
• CAN BE SUBDIVIDED
• ZONED RESIDENTIAL R3

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 5.3% 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; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 489 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 16y ago; this cycle's ask has dropped $31k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $118k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 489 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.05% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.88%
• DSCR: 1.31
• GRM: 8.0

CMA / ARV

• ARV (median comp): $221,854
• List price: $159,000
• Delta: -28.33%
• 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
4767 White Oak Path	0.19mi	3/2.0 (+1)	1,274 (-3%)	7mo	$209,000	$164	72
1487 Walnut Ridge Way	0.51mi	3/2.0 (+1)	1,304 (-0%)	1mo	$111,400	$85	65
4623 Birch Ridge Trl	0.33mi	3/2.0 (+1)	1,373 (+5%)	5mo	$300,000	$218	64
4766 White Oak Path	0.19mi	3/2.0 (+1)	1,450 (+11%)	8mo	$206,000	$142	58
1596 Allgood Rd	0.36mi	3/2.0 (+1)	1,381 (+6%)	8mo	$215,000	$156	58
4812 White Oak Path	0.30mi	3/2.0 (+1)	1,460 (+12%)	6mo	$224,000	$153	53
1619 Creekford Way	0.33mi	3/2.0 (+1)	1,456 (+11%)	16mo	$180,000	$124	43
4821 Mainstreet Valley Trce	0.72mi	3/2.0 (+1)	1,134 (-13%)	5mo	$160,000	$141	31
1643 Pine Glen Cir	0.66mi	3/2.0 (+1)	1,150 (-12%)	12mo	$214,000	$186	30
4032 Big Valley Trl	0.69mi	3/2.0 (+1)	1,120 (-14%)	7mo	$165,000	$147	29
1241 To Lani Path	0.69mi	3/2.5 (+1)	1,468 (+12%)	13mo	$270,000	$184	26
4649 Big Valley Ct	0.73mi	3/2.0 (+1)	1,120 (-14%)	9mo	$175,000	$156	25

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 · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-8,298
• Equity at exit: $23,707

10-year hold

• IRR: 5.5%
• Equity multiple: 1.42×
• Total profit: $18,762
• Equity at exit: $13,747

Cash invested: $44,520 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,665 high
• Mortgage (P&I): −$834
• Tax from tax record: −$160 /mo · $1,921/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $255

Break-even live

Break-even rent $1,342

Max offer price $159,000

Occupancy floor 80%

Sensitivity live

Price	-10% $345	-5% $300	+0% $255	+5% $210	+10% $165
Rent	-10% $124	-5% $189	+0% $255	+5% $321	+10% $387
Rate	-1.0pp $335	-0.5pp $296	base $255	+0.5pp $214	+1.0pp $172

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1420 S Hairston Rd Stone Mountain, GA	1.0–2.0	1.0–2.5	1011	$1,358	$1.34	20d	31	0.20mi
4701 Lost Colony Ct Stone Mountain, GA	3.0	2.0	1120	$1,565	$1.40	44d	1	0.28mi
1576 Canberra Dr Stone Mountain, GA	3.0	2.0	1850	$1,900	$1.03	3d	1	0.36mi
1576 Canberra Dr Stone Mountain, GA	3.0	2.0	1850	$1,000	$0.54	4d	1	0.36mi
1247 Adcox Rd Stone Mountain, GA	1.0–2.0	1.0–2.0	919	$1,259	$1.37	2d	10	0.41mi
4169 Cedar Ridge Trl Stone Mountain, GA	3.0	2.0	1591	$1,870	$1.18	5d	1	0.54mi
1299 To Lani Path Stone Mountain, GA	3.0	2.0	1507	$1,675	$1.11	13d	1	0.68mi
1217 To Lani Path Stone Mountain, GA	3.0	2.5	1404	$1,754	$1.25	2d	1	0.74mi
4935 Millstone Walk Stone Mountain, GA	3.0	2.5	1248	$1,950	$1.56	5d	1	0.76mi
1163 Mainstreet Valley Dr Stone Mountain, GA	3.0	2.0	1024	$1,476	$1.44	25d	1	0.76mi
1127 Mainstreet Valley Dr Stone Mountain, GA	2.0	2.0	1074	$1,681	$1.57	0d	1	0.79mi
1406 High Meadow Dr Stone Mountain, GA	3.0	2.0	1621	$900	$0.56	22d	1	0.80mi
1406 High Meadow Dr Stone Mountain, GA	3.0	2.0	1621	$1,625	$1.00	13d	1	0.80mi
1183 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1373	$1,751	$1.28	5d	1	0.82mi
1373 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1296	$1,738	$1.34	0d	1	0.84mi
1401 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1320	$1,675	$1.27	13d	1	0.85mi
1338 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1844	$1,900	$1.03	2d	1	0.86mi
1563 Pine Glen Cir Decatur, GA	3.0	2.0	1608	$1,695	$1.05	5d	1	0.87mi
1228 Mill Lake Cir Stone Mountain, GA	3.0	2.0	1344	$1,645	$1.22	44d	1	0.88mi
1038 S Hairston Rd Stone Mountain, GA	1.0–3.0	1.0–2.0	912	$1,092	$1.20	5d	1	0.98mi
1922 Manhattan Pkwy Decatur, GA	2.0	2.5	1814	$2,000	$1.10	5d	1	1.05mi
1380 Colony Hill Ct Stone Mountain, GA	3.0	1.5	1350	$1,500	$1.11	11d	1	1.08mi
2014 Manhattan Pkwy Decatur, GA	3.0	2.5	1620	$1,956	$1.21	5d	1	1.14mi
4612 Grand Central Pkwy Decatur, GA	2.0	2.5	1328	$2,100	$1.58	25d	1	1.17mi
4808 Brasac Dr Stone Mountain, GA	1.0	1.0	1680	$617	$0.37	4d	1	1.17mi
1859 Broadway St Decatur, GA	3.0	2.5	1620	$2,200	$1.36	4d	1	1.20mi
4236 Glenhaven Dr Decatur, GA	3.0	2.0	1120	$1,770	$1.58	0d	1	1.21mi
924 Lake Drive Ter Stone Mountain, GA	3.0	2.0	1380	$1,670	$1.21	44d	1	1.23mi
867 Oakhill Ct Stone Mountain, GA	3.0	2.5	1556	$1,850	$1.19	44d	1	1.35mi
869 Heritage Oaks Dr Stone Mountain, GA	3.0	2.5	1400	$1,199	$0.86	0d	1	1.38mi
841 Arbor Ct Stone Mountain, GA	3.0	2.0	1448	$1,845	$1.27	22d	1	1.40mi
887 Ellis Rd Stone Mountain, GA	3.0	2.0	1778	$1,923	$1.08	25d	1	1.41mi
1467 Muirfield Dr Stone Mountain, GA	3.0	2.0	1630	$1,870	$1.15	22d	1	1.42mi

Listing history 50 events

1. 2026-06-18
   days on market $159,000 Active 489 DOM
2. 2026-06-17
   days on market $159,000 Active 488 DOM
3. 2026-06-16
   days on market $159,000 Active 487 DOM
4. 2026-06-15
   days on market $159,000 Active 486 DOM
5. 2026-06-13
   days on market $159,000 Active 484 DOM
6. 2026-06-09
   days on market $159,000 Active 480 DOM
7. 2026-06-08
   days on market $159,000 Active 479 DOM
8. 2026-06-07
   days on market $159,000 Active 478 DOM
9. 2026-06-04
   days on market $159,000 Active 475 DOM
10. 2026-06-03
    days on market $159,000 Active 474 DOM
11. 2026-06-02
    days on market $159,000 Active 473 DOM
12. 2026-06-01
    days on market $159,000 Active 472 DOM
13. 2026-05-31
    days on market $159,000 Active 471 DOM
14. 2025-10-29
    historical
15. 2025-10-29
    historical
16. 2025-08-04
    status Price Change
17. 2025-08-04
    status Active
18. 2025-08-04
    price $159,000
19. 2025-08-04
    price $159,000
20. 2025-07-30
    historical
21. 2025-07-30
    historical
22. 2025-07-29
    price $159,000
23. 2025-07-29
    price $159,000
24. 2025-04-15
    price $159,900
25. 2025-04-15
    price $159,900
26. 2025-04-15
    price $159,900
27. 2025-04-15
    price $159,900
28. 2025-02-14
    listed $189,900 Active
29. 2025-02-14
    listed $189,900 New
30. 2025-02-14
    listed $189,900 New
31. 2025-02-14
    listed $189,900 Active
32. 2025-01-23
    historical
33. 2025-01-23
    historical
34. 2025-01-23
    historical
35. 2025-01-23
    historical
36. 2024-11-11
    price $189,900
37. 2024-11-11
    price $189,900
38. 2024-11-11
    price $189,900
39. 2024-11-11
    price $189,900
40. 2024-07-26
    historical
41. 2024-07-23
    listed $204,900 Active
42. 2024-07-23
    listed $204,900 New
43. 2024-07-23
    listed $204,900 Active
44. 2024-07-23
    listed $204,900 New
45. 2024-07-23
    listed $204,900 New
46. 2023-10-19
    soldstatus $118,000
47. 2023-10-11
    soldstatus $118,000 Closed
48. 2023-10-11
    soldstatus $118,000 Sold
49. 2023-09-21
    status Under Contract
50. 2023-09-21
    historical Active Under Contract

ⓘ 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: $1,921 · $160/mo
• Projected year-2 tax: $1,921 · $160/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: $19,979
• − Mortgage interest: −$8,906
• − Property taxes: −$1,921
• − Insurance: −$795
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$4,625
• Taxable income: $535
• Est. tax owed @ 24.0%: −$128
• After-tax cash flow: $2,933/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

• 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

+156.5% since first listed

54 events — show timeline

• 2025-10-29 Listing Removed — GAMLS
• 2025-10-29 Listing Removed — FMLS
• 2025-08-04 Relisted — GAMLS
• 2025-08-04 Relisted — FMLS
• 2025-08-04 Price Changed $159,000 GAMLS
• 2025-08-04 Price Changed $159,000 FMLS
• 2025-07-30 Listing Removed — GAMLS
• 2025-07-30 Listing Removed — FMLS
• 2025-07-29 Price Changed $159,000 GAMLS
• 2025-07-29 Price Changed $159,000 FMLS
• 2025-04-15 Price Changed $159,900 GAMLS
• 2025-04-15 Price Changed $159,900 FMLS
• 2025-04-15 Price Changed $159,900 GAMLS
• 2025-04-15 Price Changed $159,900 FMLS
• 2025-02-14 Listed $189,900 FMLS
• 2025-02-14 Listed $189,900 GAMLS
• 2025-02-14 Listed $189,900 GAMLS
• 2025-02-14 Listed $189,900 FMLS
• 2025-01-23 Listing Removed — GAMLS
• 2025-01-23 Listing Removed — FMLS
• 2025-01-23 Listing Removed — GAMLS
• 2025-01-23 Listing Removed — FMLS
• 2024-11-11 Price Changed $189,900 GAMLS
• 2024-11-11 Price Changed $189,900 FMLS
• 2024-11-11 Price Changed $189,900 GAMLS
• 2024-11-11 Price Changed $189,900 FMLS
• 2024-07-26 Listing Removed — GAMLS
• 2024-07-23 Listed $204,900 GAMLS
• 2024-07-23 Listed $204,900 GAMLS
• 2024-07-23 Listed $204,900 FMLS
• 2024-07-23 Listed $204,900 GAMLS
• 2024-07-23 Listed $204,900 FMLS
• 2023-10-19 Sold (Public Records) $118,000 Public Records
• 2023-10-11 Sold (MLS) $118,000 GAMLS
• 2023-10-11 Sold (MLS) $118,000 FMLS
• 2023-09-21 Pending — GAMLS
• 2023-09-21 Contingent — FMLS
• 2023-08-29 Listed $125,000 GAMLS
• 2023-08-29 Listed $125,000 FMLS
• 2022-11-15 Listing Removed — GAMLS
• 2022-08-13 Listed $185,000 GAMLS
• 2020-06-04 Listing Removed — GAMLS
• 2020-02-07 Listing Removed — GAMLS
• 2020-02-07 Price Changed $55,000 GAMLS
• 2020-02-05 Listed $59,500 GAMLS
• 2019-09-16 Price Changed $59,500 GAMLS
• 2019-08-07 Listing Removed — GAMLS
• 2019-08-06 Listed $69,500 GAMLS
• 2019-02-18 Listed $70,000 GAMLS
• 2010-12-20 Listing Removed — FMLS
• 2010-12-08 Sold (MLS) $23,500 FMLS
• 2010-09-23 Pending — FMLS
• 2010-09-02 Listed $30,000 FMLS
• 2000-12-14 Sold (Public Records) $62,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $1,921 · -6.9% YoY. Source: county tax records.