2207 Miranda Dr · Forest Park, GA 30260

$209,000

4 bd · 3.0 ba · 1,974 sqft · Townhouse public records · 146 Days on market

Built 2006 $106/sqft · 19% below area Est $244k · 14% under $40/mo HOA · 2% 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 +19.5/30.0
• ARV discount +14.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice spacious townhome close to everything! Main floor has a bedroom with a full bathroom. Open concept to view kitchen, Livingroom with dining area. Upstairs has 2 spare bedrooms another full bathroom. Master has private bathroom and walk in closest. This home will go conventional, FHA, Cash, VA! Clean and well kept!

Key facts

• $40 HOA
• Built 2006
• Listed 146 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath townhouse listed at $209k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $209k).
• Recommended offer: $184k (12.0% 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); 166 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• At $2,152/mo this rent would consume 49% of the median local household income ($53k/yr) (locally 1956% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 146 days — a 12% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $35k; list at $209k implies a 494% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $183,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 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. 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 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?
6. 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?
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: 1.03% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 8.1

CMA / ARV

• ARV (median comp): $244,438
• List price: $209,000
• Delta: -14.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5339 Creekview Ln	0.15mi	4/3.0	1,836 (-7%)	1mo	$210,000	$114	80
5254 Carrie Dr	0.06mi	3/2.5 (-1)	1,800 (-9%)	8mo	$249,000	$138	68
5217 Carrie Dr	0.13mi	4/2.5	1,800 (-9%)	21mo	$240,000	$133	60
5354 Creekview Way	0.14mi	3/2.5 (-1)	1,812 (-8%)	19mo	$235,000	$130	58

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.57×
• Total profit: $-25,075
• Equity at exit: $31,163

10-year hold

• IRR: -8.4%
• Equity multiple: 0.54×
• Total profit: $-26,644
• Equity at exit: $18,071

Cash invested: $58,520 (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 30260

• Home prices YoY: -33.8%
• Rents YoY: -1.0%
• Active inventory: 166
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,152 high
• Mortgage (P&I): −$1,096
• Tax from tax record: −$241 /mo · $2,890/yr
• Insurance: −$87
• HOA: −$40
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $236

Break-even live

Break-even rent $1,853

Max offer price $209,000

Occupancy floor 84%

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2271 Wentworth Park Dr Ellenwood, GA	4.0	2.5	1705	$2,119	$1.24	16d	1	0.07mi
2314 Shady Dr Morrow, GA	4.0	2.5	1705	$2,179	$1.28	11d	1	0.25mi
2401 Bethune Cir Morrow, GA	3.0	2.5	1696	$2,095	$1.24	5d	1	0.71mi
4974 Summersun Dr Morrow, GA	4.0	2.0	1935	$2,370	$1.22	1d	1	0.72mi
2260 Hammond Ct Ellenwood, GA	3.0	2.0	1248	$1,850	$1.48	43d	1	0.81mi
5720 Buck Ct Ellenwood, GA	3.0	2.0	1232	$1,850	$1.50	24d	1	0.87mi
5731 Buck Ct Ellenwood, GA	3.0	2.0	1242	$1,525	$1.23	12d	1	0.88mi
2603 Old Rex Morrow Rd Ellenwood, GA	4.0	3.0	1800	$2,510	$1.39	44d	1	0.99mi
5704 Wesson Dr Ellenwood, GA	3.0	2.0	1480	$1,710	$1.16	43d	1	1.00mi
2617 Old Rex Morrow Rd Ellenwood, GA	4.0	3.0	1800	$1,950	$1.08	12d	1	1.02mi
5789 Colt Ct Ellenwood, GA	4.0	3.0	1877	$2,020	$1.08	43d	1	1.17mi
5762 Northspring Dr Ellenwood, GA	3.0	2.0	1577	$1,705	$1.08	12d	1	1.20mi
2655 Old Toney Rd Ellenwood, GA	3.0	1.5	1300	$1,450	$1.12	43d	1	1.21mi
2710 Luke Dr Ellenwood, GA	4.0	3.0	2213	$2,435	$1.10	43d	1	1.22mi
5868 Dan Dr Ellenwood, GA	3.0	2.0	1854	$2,300	$1.24	43d	1	1.29mi
2445 Rex Rd Ellenwood, GA	1.0–3.0	1.0–2.0	1149	$1,569	$1.37	1d	12	1.30mi
6010 Fairfield Dr Morrow, GA	3.0	1.5	1246	$1,841	$1.48	2d	1	1.42mi

HOA detail

• Monthly dues: $40 · $480/yr

Listing history 12 events

1. 2026-05-31
   days on market $209,000 Active 146 DOM
2. 2026-02-18
   price $209,000 319-char remark

   Show marketing remark (319 chars)

   Nice spacious townhome close to everything! Main floor has a bedroom with a full bathroom. Open concept to view kitchen, Livingroom with dining area. Upstairs has 2 spare bedrooms another full bathroom. Master has private bathroom and walk in closest. This home will go conventional, FHA, Cash, VA! Clean and well kept!

3. 2026-02-13
   price $209,000 319-char remark

   Show marketing remark (319 chars)

   Nice spacious townhome close to everything! Main floor has a bedroom with a full bathroom. Open concept to view kitchen, Livingroom with dining area. Upstairs has 2 spare bedrooms another full bathroom. Master has private bathroom and walk in closest. This home will go conventional, FHA, Cash, VA! Clean and well kept!

4. 2026-01-06
   listed $215,000 New 319-char remark

   Show marketing remark (319 chars)

   Nice spacious townhome close to everything! Main floor has a bedroom with a full bathroom. Open concept to view kitchen, Livingroom with dining area. Upstairs has 2 spare bedrooms another full bathroom. Master has private bathroom and walk in closest. This home will go conventional, FHA, Cash, VA! Clean and well kept!

5. 2026-01-05
   listed $215,000 Active 319-char remark

   Show marketing remark (319 chars)

   Nice spacious townhome close to everything! Main floor has a bedroom with a full bathroom. Open concept to view kitchen, Livingroom with dining area. Upstairs has 2 spare bedrooms another full bathroom. Master has private bathroom and walk in closest. This home will go conventional, FHA, Cash, VA! Clean and well kept!

6. 2016-08-06
   price $34,900
7. 2012-02-28
   soldstatus $35,200 Sold
8. 2012-02-07
   historical
9. 2012-02-07
   price $35,200
10. 2012-02-02
    historical Pending Approval
11. 2012-01-19
    price $34,900 Reduced
12. 2011-12-15
    listed $44,900 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: $2,890 · $241/mo
• Projected year-2 tax: $2,890 · $241/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 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,828
• − Mortgage interest: −$11,707
• − Property taxes: −$2,890
• − Insurance: −$1,045
• − Repairs & maintenance: −$2,066
• − Management: −$2,066
• − HOA: −$480
• − Depreciation: −$6,080
• Taxable loss: −$507
• Est. tax savings @ 24.0%: +$122
• After-tax cash flow: $2,958/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

• County: Clayton County · 230,153 people
• City population: 29,210
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 28,693
• Household income: $52,666
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 1956.0

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 0.67)
• Race & ethnicity: Black 50% Asian 20% Hispanic / Latino 19% Two or more races 7% White 7%
• Hispanic origin (detail): Mexican 11% Dominican 1%
• Foreign-born: 24% · Vietnam, Canada, South Korea
• Languages at home: 63% English-only · Spanish 17% Vietnamese 16% 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: ▼ -98.24%
• Current HPI: 192.3741
• Rent YoY: ▼ -1.00%
• 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

+365.5% since first listed

11 events — show timeline

• 2026-02-18 Price Changed $209,000 FMLS
• 2026-02-13 Price Changed $209,000 GAMLS
• 2026-01-06 Listed $215,000 GAMLS
• 2026-01-05 Listed $215,000 FMLS
• 2016-08-06 Price Changed $34,900 GAMLS
• 2012-02-28 Sold (MLS) $35,200 GAMLS
• 2012-02-07 Listing Removed — GAMLS
• 2012-02-07 Price Changed $35,200 GAMLS
• 2012-02-02 Contingent — GAMLS
• 2012-01-19 Price Changed $34,900 GAMLS
• 2011-12-15 Listed $44,900 GAMLS

Property tax history

+2.7%/yr

Latest (2025): $2,890 · -9.2% YoY. Source: county tax records.