5230 Essex Farms Ct · Redan, GA 30088

$189,000

4 bd · 3.0 ba · 2,164 sqft · SingleFamily public records · 5 Days on market

Built 1973 0.96 ac lot Est $290k · 35% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• 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

Located in an established neighborhood, this spacious home offers a fantastic opportunity for investors, renovators, or buyers looking to add their own personal touches. Featuring a functional floor plan, generous living spaces, and a sizable lot, the property provides a solid foundation for a remodel or value-add project. With the right updates and improvements, this home has the potential to truly shine. Conveniently located near shopping, dining, schools, parks, and major highways, it offers both accessibility and long-term appeal. Whether you're looking for your next fix-and-flip project, rental investment, or a home to customize to your preferences, this property is full of possibilities. Don't miss this opportunity to unlock the potential of this Stone Mountain gem!

Key facts

• Sizable lot
• Conveniently located
• 0.96 acre lot

Tags

• ESTABLISHED NEIGHBORHOOD
• FUNCTIONAL FLOOR PLAN
• GENEROUS LIVING SPACES
• SIZABLE LOT
• REMODEL OR VALUE-ADD PROJECT
• CONVENIENTLY LOCATED

Property features AI

Finance

• HOA & community: Near public transport, schools, and shopping; Community features: Other

Exterior

• Parking: Two-car garage; Driveway; Open parking available
• Utilities: Public water; Septic tank sewer; Electricity (110 volts); Electricity, sewer, and water available
• Home design: Two levels; Wood siding and other exterior materials; Shingle roof; Concrete perimeter foundation; Property listed in fixer condition
• Construction: Wood siding construction; Shingle roof; Concrete perimeter foundation; Built with other materials
• Exterior features: Rain gutters; Back yard fencing

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator; Trash compactor; Stained cabinets; Pantry
• Bedrooms: One main-level bedroom; Three upper-level bedrooms; Bedroom features: Other
• Flooring: Carpet; Concrete; Laminate
• Bathrooms: Three full bathrooms; One main-level bathroom; Two full upper-level bathrooms; Master bath with shower-only and other features
• Heating & cooling: Forced air heating; Central air; Ceiling fan(s)
• Interior features: One fireplace in the living room; Built-in cabinets and pantry in the kitchen; Attic; Other interior features
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $707 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Cap rate 10.8% 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.
• Zoned schools: Panola Way Elementary School (math 8% / reading 12%, grade F, #1,092 of 1,228 statewide, top 91%, 653 students, 100% FRL); Miller Grove Middle School (math 8% / reading 18%, grade F, #410 of 470 statewide, top 87%, 722 students, 100% FRL); Miller Grove High School (math 5% / reading 5%, grade F, #394 of 424 statewide, top 97%, 1,188 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 9% at this address vs 24% district-wide (-14 pts) — the specific schools serving this property underperform the Dekalb County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.7%/yr); 215 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 40% 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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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 $58k; list at $189k implies a 227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.23% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.02%
• DSCR: 1.71
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $289,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2011 Panola Rd	0.33mi	4/3.0	2,170 (+0%)	15mo	$340,000	$157	72
2089 Scarbrough Trl	0.29mi	5/3.0 (+1)	2,080 (-4%)	13mo	$255,000	$123	64
1809 Fairpointe Trce	0.64mi	4/2.5	2,173 (+0%)	12mo	$315,000	$145	58
5309 Golfcrest Cir	0.70mi	3/2.5 (-1)	2,141 (-1%)	2mo	$157,000	$73	57
5419 Golfcrest Cir	0.62mi	4/2.5	2,174 (+0%)	14mo	$292,000	$134	56
5357 Golfcrest Cir	0.64mi	4/2.5	2,295 (+6%)	6mo	$275,000	$120	53
5010 Greenwyck	0.62mi	4/2.5	2,010 (-7%)	6mo	$347,000	$173	52
5455 Wood Duck Ln	0.62mi	3/3.0 (-1)	1,956 (-10%)	5mo	$237,000	$121	46
5477 Forest Pines Dr	0.52mi	3/2.0 (-1)	1,887 (-13%)	2mo	$135,000	$72	44
5296 Golfcrest Cir	0.73mi	4/2.5	2,328 (+8%)	12mo	$285,000	$122	41
1987 Wynhurst Xing	0.64mi	3/2.5 (-1)	1,976 (-9%)	11mo	$285,350	$144	39
4954 Penscot Way	0.74mi	3/2.5 (-1)	1,850 (-14%)	10mo	$291,000	$157	26

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: 7.7%
• Equity multiple: 1.30×
• Total profit: $15,998
• Equity at exit: $28,181

10-year hold

• IRR: 17.5%
• Equity multiple: 2.49×
• Total profit: $78,627
• Equity at exit: $16,341

Cash invested: $52,920 (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: 6.8×

Monthly cashflow live

• Estimated rent: $2,321 high
• Mortgage (P&I): −$991
• Tax from tax record: −$57 /mo · $681/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $707

Break-even live

Break-even rent $1,426

Max offer price $189,000

Occupancy floor 65%

Sensitivity live

Price	-10% $814	-5% $760	+0% $707	+5% $653	+10% $600
Rent	-10% $523	-5% $615	+0% $707	+5% $798	+10% $890
Rate	-1.0pp $802	-0.5pp $755	base $707	+0.5pp $658	+1.0pp $608

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2003 Clearstream Overlook Stone Mountain, GA	4.0	3.0	3000	$4,950	$1.65	17d	1	0.24mi
2079 Panola Way Ct Lithonia, GA	4.0	3.0	1971	$1,850	$0.94	24d	1	0.26mi
5356 Olde St Stone Mountain, GA	3.0	2.5	1560	$1,745	$1.12	21d	1	0.30mi
5179 Scarbrough Trl W Stone Mountain, GA	4.0	3.0	1700	$1,575	$0.93	4d	1	0.32mi
5368 Olde St Stone Mountain, GA	5.0	3.0	1988	$2,195	$1.10	22d	1	0.33mi
2244 Mulsanne Dr Lithonia, GA	3.0	2.5	1750	$2,250	$1.29	5d	1	0.48mi
2248 Mulsanne Dr Lithonia, GA	3.0	2.5	1750	$2,250	$1.29	44d	1	0.49mi
5452 Perching Pl Lithonia, GA	3.0	2.5	2036	$1,900	$0.93	24d	1	0.56mi
2005 Marbut Forest Dr Lithonia, GA	3.0	2.0	1556	$1,900	$1.22	5d	1	0.64mi
5536 Downs Way Lithonia, GA	3.0	2.0	1400	$1,600	$1.14	44d	1	0.70mi
1000 Hidden Chase Stone Mountain, GA	1.0–3.0	1.0–2.0	1185	$1,510	$1.27	5d	1	0.75mi
1964 Taffeta Trl Lithonia, GA	3.0	2.0	1508	$1,870	$1.24	20d	1	0.77mi
1717 Panola Rd Stone Mountain, GA	3.0–4.0	2.5	2107	$3,360	$1.59	1d	97	0.79mi
2188 Justify LN #40 Lithonia, GA	3.0	2.5	2085	$2,400	$1.15	44d	1	0.84mi
5622 Glen Ridge Bnd Lithonia, GA	3.0	2.5	1967	$2,110	$1.07	24d	1	0.90mi
5047 Chadwick Ct Decatur, GA	3.0	2.5	1488	$1,645	$1.11	3d	1	0.91mi
1724 Laurel Creek Cir Lithonia, GA	3.0	2.5	1558	$1,935	$1.24	13d	1	0.91mi
4939 Clubgreen Smt Stone Mountain, GA	4.0	2.5	2156	$2,139	$0.99	44d	1	0.92mi
2314 Hampton Dr Decatur, GA	3.0	3.0	1600	$2,030	$1.27	44d	1	0.95mi
5049 Donnell Way Decatur, GA	3.0	2.0	1566	$1,923	$1.23	44d	1	0.96mi
2233 Glen Briar Way Lithonia, GA	3.0	2.5	2036	$2,500	$1.23	12d	1	0.96mi
5550 Wellborn Creek Dr Lithonia, GA	3.0	2.5	1850	$2,085	$1.13	2d	1	1.08mi
5477 Wellborn Creek Dr Lithonia, GA	3.0	3.0	2084	$2,400	$1.15	3d	1	1.12mi
2272 Ramblewood Cir Decatur, GA	4.0	2.5	2198	$2,111	$0.96	5d	1	1.16mi
4919 Wilkins Station Dr Decatur, GA	3.0	2.0	1770	$2,161	$1.22	21d	1	1.18mi
2293 Waters Run Decatur, GA	4.0	2.5	2500	$2,195	$0.88	44d	1	1.19mi
2279 Strathmoor Manor Dr Lithonia, GA	3.0	2.5	2678	$1,800	$0.67	13d	1	1.22mi
2450 Northmill Ln Decatur, GA	4.0	2.5	2046	$2,135	$1.04	44d	1	1.22mi
Ramblewood Cir , GA	5.0	3.0	2187	$4,000	$1.83	44d	1	1.22mi
5876 Strathmoor Manor Cir Unit 1 Lithonia, GA	3.0	2.5	1400	$1,295	$0.93	24d	1	1.23mi
4909 Truitt Ln Decatur, GA	3.0	2.0	1697	$2,500	$1.47	44d	1	1.24mi
2014 Manhattan Pkwy Decatur, GA	3.0	2.5	1620	$1,956	$1.21	5d	1	1.25mi
1815 Herringbone Holw Lithonia, GA	3.0	2.0	1812	$1,750	$0.97	44d	1	1.26mi
4955 Windsor Downs Ln Decatur, GA	4.0	2.0	1888	$2,050	$1.09	5d	1	1.30mi
5739 Hilton Ridge Rd Lithonia, GA	3.0	2.5	2000	$1,820	$0.91	2d	1	1.32mi
5811 Calico Ct Lithonia, GA	4.0	2.5	2016	$2,300	$1.14	44d	1	1.34mi
5788 Calle Vista Dr Lithonia, GA	3.0	2.5	1593	$2,300	$1.44	19d	1	1.40mi
1859 Broadway St Decatur, GA	3.0	2.5	1620	$2,200	$1.36	4d	1	1.40mi
4852 Lost Colony Ct Stone Mountain, GA	4.0	3.0	1694	$1,775	$1.05	24d	1	1.43mi
1600 Devon Ct Stone Mountain, GA	4.0	3.0	2100	$2,145	$1.02	24d	1	1.43mi

Listing history 5 events

1. 2026-06-18
   days on market $189,000 Active 5 DOM
2. 2026-06-17
   days on market $189,000 Active 4 DOM
3. 2026-06-16
   days on market $189,000 Active 3 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $189,000 Active 2 DOM

ⓘ 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: $681 · $57/mo
• Projected year-2 tax: $1,739 · $145/mo
• Expected delta: +$1,058/yr (+$88/mo · 155.4%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $27,847
• − Mortgage interest: −$10,587
• − Property taxes: −$681
• − Insurance: −$945
• − Repairs & maintenance: −$2,228
• − Management: −$2,228
• − Depreciation: −$5,498
• Taxable income: $5,680
• Est. tax owed @ 24.0%: −$1,363
• After-tax cash flow: $7,116/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

+227.0% since first listed

5 events — show timeline

• 2026-06-13 Listed $189,000 GAMLS
• 2026-06-13 Listed $189,000 FMLS
• 2023-11-01 Listing Removed — GAMLS
• 2023-05-22 Listed $269,900 GAMLS
• 1976-04-01 Sold (Public Records) $57,800 Public Records

Property tax history

-4.7%/yr

Latest (2025): $681 · -4.3% YoY. Source: county tax records.