1877 Whitehall Forest Ct SE · Gresham Park, GA 30316

$175,000

3 bd · 2.0 ba · 1,344 sqft · Condo public records · 14 Days on market

Built 1972

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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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +3.3/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SOLD AS IS WITH NO DISCLOSURE

Key facts

• Private patio area
• Dedicated parking
• Built 1972

Tags

• FUNCTIONAL FLOOR PLAN
• GENEROUS LIVING SPACE
• AMPLE KITCHEN CABINET SPACE
• PRIVATE PATIO AREA
• DEDICATED PARKING
• CONVENIENT ATLANTA LOCATION

Property features AI

Exterior

• Home design: Condo
• Construction: Living area approximately 1,344 (units as provided)
• Exterior features: Small lot of approximately 871 (units as provided)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 8.9% vs local median 4.6% in Gresham 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 66/100 on livability (#183 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B+; Watch: schools 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 (+2.3%/yr); 461 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 10y 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 $59k; list at $175k implies a 197% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.08% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.46%
• DSCR: 1.42
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.33% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.90×
• Total profit: $-5,049
• Equity at exit: $26,093

10-year hold

• IRR: 6.2%
• Equity multiple: 1.45×
• Total profit: $22,025
• Equity at exit: $15,131

Cash invested: $49,000 (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 30316

• Rents YoY: 2.3%
• Active inventory: 461
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,896 high
• Mortgage (P&I): −$918
• Tax from tax record: −$121 /mo · $1,446/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $386

Break-even live

Break-even rent $1,407

Max offer price $175,000

Occupancy floor 75%

Sensitivity live

Price	-10% $485	-5% $436	+0% $386	+5% $337	+10% $287
Rent	-10% $237	-5% $312	+0% $386	+5% $461	+10% $536
Rate	-1.0pp $475	-0.5pp $431	base $386	+0.5pp $341	+1.0pp $295

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 Bouldercrest Ln Atlanta, GA	1.0–2.0	1.0	816	$1,228	$1.50	0d	9	0.20mi
2059 Oak Terrace Dr SE Atlanta, GA	3.0	2.0	1606	$2,055	$1.28	6d	1	0.63mi
1952 Boulder Hills Dr Ellenwood, GA	3.0	2.0	1410	$1,875	$1.33	44d	1	0.83mi
3054 Will Rogers Pl SE Atlanta, GA	3.0	2.0	1050	$2,600	$2.48	44d	1	0.86mi
1843 Wee Kirk Rd SE Atlanta, GA	3.0	1.5	1154	$1,751	$1.52	0d	1	1.03mi
2000 Bouldercrest Rd Atlanta, GA	1.0–3.0	1.0–2.0	1050	$1,658	$1.58	0d	18	1.12mi
2000 Bouldercrest Rd Atlanta, GA	1.0–2.0	1.0–2.0	925	$1,520	$1.64	44d	3	1.12mi
2019 Knight Ct Atlanta, GA	4.0	2.0	1590	$1,900	$1.19	6d	1	1.12mi
1989 Wee Kirk Rd SE Atlanta, GA	3.0	1.0	925	$1,800	$1.95	25d	1	1.13mi
2931 Cloverleaf Dr SE Atlanta, GA	4.0	2.0	1371	$1,985	$1.45	5d	1	1.15mi
2959 Sugarcreek Ln SE Atlanta, GA	4.0	2.5	1478	$1,940	$1.31	6d	1	1.17mi
2913 Horse Shoe Dr SE Atlanta, GA	3.0	1.0	1263	$1,595	$1.26	25d	1	1.17mi
2892 Horse Shoe Dr SE Atlanta, GA	4.0	2.0	1342	$1,654	$1.23	22d	1	1.23mi
3128 Bouldercrest Rd Ellenwood, GA	4.0	1.5	1200	$1,728	$1.44	13d	1	1.27mi
2911 Gresham Rd SE Atlanta, GA	3.0	1.0	960	$1,700	$1.77	44d	1	1.30mi
2884 Reveille Cir SE Atlanta, GA	3.0	2.0	1437	$2,050	$1.43	44d	1	1.41mi
4007 Moore Creek Dr Conley, GA	2.0	2.0	1200	$1,850	$1.54	19d	1	1.49mi
2435 Aylesbury Loop Decatur, GA	1.0–3.0	1.0–2.0	937	$1,509	$1.61	4d	12	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $175,000 Active 14 DOM
2. 2026-06-17
   days on market $175,000 Active 13 DOM
3. 2026-06-16
   days on market $175,000 Active 12 DOM
4. 2026-06-15
   days on market $175,000 Active 11 DOM
5. 2026-06-13
   days on market $175,000 Active 9 DOM
6. 2026-06-09
   days on market $175,000 Active 5 DOM
7. 2026-06-08
   days on market $175,000 Active 4 DOM
8. 2026-06-07
   days on market $175,000 Active 3 DOM
9. 2026-06-04
   remarks 699-char remark
10. 2026-06-04
    listed $175,000 Active 1 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: $1,446 · $121/mo
• Projected year-2 tax: $1,610 · $134/mo
• Expected delta: +$164/yr (+$14/mo · 11.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,748
• − Mortgage interest: −$9,803
• − Property taxes: −$1,446
• − Insurance: −$875
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − Depreciation: −$5,091
• Taxable income: $1,893
• Est. tax owed @ 24.0%: −$454
• After-tax cash flow: $4,182/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 — Gresham Park

• Score: 66/100
• State rank: #183
• US rank: #11376

Category grades

Amenities F Commute F Cost of living A Crime B+ Employment B+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dekalb County · 782,738 people
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 35,107
• Household income: $102,891
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1897.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 47% White 36% Hispanic / Latino 8% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 93% 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: ▼ -415.92%
• Current HPI: 318.454
• Rent YoY: ▲ 2.33%
• 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

+446.9% since first listed

19 events — show timeline

• 2026-06-04 Listed $175,000 ForSaleByOwner.com
• 2023-08-09 Listing Removed — GAMLS
• 2022-09-28 Price Changed $60,000 GAMLS
• 2022-09-06 Relisted — GAMLS
• 2022-09-05 Pending — GAMLS
• 2022-08-16 Listed $65,000 GAMLS
• 2022-02-10 Sold (MLS) $59,000 FMLS
• 2022-01-28 Sold (MLS) $59,000 GAMLS
• 2022-01-24 Pending — GAMLS
• 2022-01-24 Pending — FMLS
• 2021-11-30 Listed $59,900 GAMLS
• 2021-11-30 Listed $59,900 FMLS
• 2017-08-31 Listing Removed — GAMLS
• 2017-05-02 Listed $49,900 GAMLS
• 2017-05-01 Listing Removed — GAMLS
• 2017-01-01 Listed $49,900 GAMLS
• 2016-12-31 Listing Removed — GAMLS
• 2016-10-03 Listed $49,900 GAMLS
• 1996-01-19 Sold (Public Records) $32,000 Public Records

Property tax history

+19.6%/yr

Latest (2025): $1,446 · +0.7% YoY. Source: county tax records.