2764 Shellbark Rd · Stonecrest, GA 30035

$79,000

3 bd · 2.5 ba · 1,758 sqft · Condo public records · 90 Days on market

Built 1975 $45/sqft · 58% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special - High Upside Opportunity! 2764 Shell Bark Road offers a rare value-add play with no rental restrictions and no HOA, making it ideal for fix-and-flip, long-term rental, or short-term rental strategies. This 3BR / 2.5BA home with 1,758 sq ft features a solid footprint and functional layout ready for renovation. Strong potential to force appreciation through cosmetic and light-to-moderate updates. Perfect for investors looking to capture equity and maximize returns. Owner financing available: $20,000 down, 7.75% interest, 15-year term, approx. $555.35/month - allowing investors to preserve capital and improve cash-on-cash returns. Located in a growing area with continued demand and easy access to key amenities, this is a prime opportunity to secure a high-margin project. Sold as-is. Bring your contractor and vision.

Key facts

• Functional layout
• Cosmetic updates
• No hoa

Tags

• NO RENTAL RESTRICTIONS
• NO HOA
• FUNCTIONAL LAYOUT
• COSMETIC UPDATES
• LIGHT-TO-MODERATE UPDATES
• GROWING AREA

🏷️ Possibly a rental listed for sale. The $79,000 price doesn't fit this home's estimated sale value (~$187,463) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $79k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $74k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.4% vs local median 5.1% in Stonecrest — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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 flat; 187 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 39% of the median local income ($67k/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 $546 of loan paydown is wiped out by about $2k 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 + 0.9% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $68k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% 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 $74,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.72% ✓
• Cap rate: 23.41%
• Cash-on-cash: 61.13%
• DSCR: 3.72
• GRM: 3.1

CMA / ARV

• ARV (median comp): $187,463
• List price: $79,000
• Delta: -57.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.87% rent growth · sell at horizon

5-year hold

• IRR: 57.5%
• Equity multiple: 3.46×
• Total profit: $54,509
• Equity at exit: $11,779

10-year hold

• IRR: 61.6%
• Equity multiple: 6.53×
• Total profit: $122,346
• Equity at exit: $6,830

Cash invested: $22,120 (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 30035

• Home prices YoY: -33.8%
• Rents YoY: 0.9%
• Active inventory: 187
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,149 high
• Mortgage (P&I): −$414
• Tax from tax record: −$124 /mo · $1,485/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $1,127

Break-even live

Break-even rent $723

Max offer price $79,000

Occupancy floor 43%

Sensitivity live

Price	-10% $1,172	-5% $1,149	+0% $1,127	+5% $1,105	+10% $1,082
Rent	-10% $957	-5% $1,042	+0% $1,127	+5% $1,212	+10% $1,297
Rate	-1.0pp $1,167	-0.5pp $1,147	base $1,127	+0.5pp $1,106	+1.0pp $1,086

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2559 Walden Lake Dr Unit 1 Decatur, GA	3.0	2.5	1464	$2,000	$1.37	44d	1	0.17mi
2878 Snapfinger Mnr Decatur, GA	3.0	2.5	1670	$1,780	$1.07	4d	1	0.18mi
2545 Walden Lake Dr Unit 1 Decatur, GA	3.0	2.5	1464	$2,000	$1.37	44d	1	0.18mi
4936 Longview Run Decatur, GA	4.0	2.5	2238	$2,900	$1.30	44d	1	0.21mi
4948 Longview Run Decatur, GA	3.0	2.0	1892	$2,135	$1.13	6d	1	0.23mi
5038 Longview Walk Decatur, GA	3.0	2.5	1577	$1,995	$1.27	44d	1	0.26mi
5108 Jack Dr Decatur, GA	3.0	2.5	1872	$2,185	$1.17	25d	1	0.29mi
4917 Longview Walk Decatur, GA	3.0	2.5	1486	$2,000	$1.35	21d	1	0.30mi
4908 Longview Walk Decatur, GA	3.0	2.5	1480	$2,000	$1.35	44d	1	0.32mi
2658 Avanti Way Decatur, GA	3.0	2.5	1616	$2,000	$1.24	44d	1	0.34mi
2569 Terrace Trl Decatur, GA	3.0	3.0	1752	$1,800	$1.03	44d	1	0.40mi
2563 Terrace Trl Decatur, GA	3.0	3.0	1752	$1,950	$1.11	13d	1	0.41mi
2553 Terrace Trl Unit 2553 Decatur, GA	3.0	2.0	1865	$1,950	$1.05	13d	1	0.43mi
2525 Terrace Trl Unit 2525 Decatur, GA	3.0	3.0	1593	$1,850	$1.16	13d	1	0.46mi
2481 Terrace Trl Decatur, GA	3.0	3.0	1752	$2,050	$1.17	44d	1	0.57mi
4946 Snapfinger Woods Dr Decatur, GA	1.0–2.0	1.0–2.5	965	$1,259	$1.30	2d	18	0.58mi
2564 Treadway Dr Decatur, GA	3.0	2.0	1927	$2,950	$1.53	44d	1	0.63mi
5089 Galleon Xing Decatur, GA	4.0	2.5	2488	$2,460	$0.99	45d	1	0.68mi
4955 Windsor Downs Ln Decatur, GA	4.0	2.0	1888	$2,050	$1.09	6d	1	0.73mi
4926 Windsor Downs Ln Decatur, GA	4.0	3.5	1675	$1,000	$0.60	0d	1	0.78mi
2450 Northmill Ln Decatur, GA	4.0	2.5	2046	$2,135	$1.04	44d	1	0.80mi
2937 Thompson Cir Decatur, GA	3.0	2.0	1480	$1,860	$1.26	2d	1	0.80mi
4909 Truitt Ln Decatur, GA	3.0	2.0	1697	$2,500	$1.47	44d	1	0.84mi
4919 Wilkins Station Dr Decatur, GA	3.0	2.0	1770	$2,161	$1.22	21d	1	0.90mi
5388 Winding Glen Dr Lithonia, GA	4.0	2.5	2251	$2,230	$0.99	44d	1	0.92mi
3095 Riders Trl Decatur, GA	3.0	2.0	1800	$4,500	$2.50	0d	1	0.96mi
4433 Golf Vista Cir Decatur, GA	3.0	2.5	1495	$1,350	$0.90	25d	1	1.05mi
5049 Donnell Way Decatur, GA	3.0	2.0	1566	$1,923	$1.23	44d	1	1.06mi
2272 Ramblewood Cir Decatur, GA	4.0	2.5	2198	$2,111	$0.96	6d	1	1.07mi
2314 Hampton Dr Decatur, GA	3.0	3.0	1600	$2,030	$1.27	44d	1	1.08mi
5047 Chadwick Ct Decatur, GA	3.0	2.5	1488	$1,645	$1.11	4d	1	1.11mi
5047 Chadwick Ct Decatur, GA	3.0	2.5	1488	$1,645	$1.11	0d	1	1.11mi
100 Cavalier Xing Stonecrest, GA	3.0	2.0	1558	$1,990	$1.28	25d	1	1.19mi
4421 Wellington Ter Decatur, GA	3.0	2.5	1704	$1,880	$1.10	0d	1	1.21mi
4336 Pleasant Point Dr Decatur, GA	1.0–3.0	1.0–2.0	1010	$1,233	$1.22	0d	3	1.22mi
2692 Paxton PL #14 Decatur, GA	3.0	2.5	1611	$2,299	$1.43	44d	1	1.28mi
2293 Waters Run Decatur, GA	4.0	2.5	2500	$2,195	$0.88	44d	1	1.32mi
4292 Callum Ct Decatur, GA	3.0	2.5	1611	$2,200	$1.37	44d	1	1.33mi
4282 Callum Ct Decatur, GA	3.0	2.5	1611	$2,200	$1.37	44d	1	1.35mi
5301 W Fairington Pkwy Lithonia, GA	1.0–3.0	1.0–2.0	1020	$1,946	$1.91	2d	37	1.38mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-21
   days on market $79,000 Active 90 DOM
2. 2026-06-18
   days on market $79,000 Active 87 DOM
3. 2026-06-17
   days on market $79,000 Active 86 DOM
4. 2026-06-16
   days on market $79,000 Active 85 DOM
5. 2026-06-15
   days on market $79,000 Active 84 DOM
6. 2026-06-13
   days on market $79,000 Active 82 DOM
7. 2026-06-09
   days on market $79,000 Active 78 DOM
8. 2026-06-08
   days on market $79,000 Active 77 DOM
9. 2026-06-07
   days on market $79,000 Active 76 DOM
10. 2026-06-04
    days on market $79,000 Active 73 DOM
11. 2026-06-03
    days on market $79,000 Active 72 DOM
12. 2026-06-02
    days on market $79,000 Active 71 DOM
13. 2026-06-01
    days on market $79,000 Active 70 DOM
14. 2026-05-31
    days on market $79,000 Active 69 DOM
15. 2026-03-23
    listed $79,000 New 849-char remark

    Show marketing remark (861 chars)

    Investor Special – High Upside Opportunity! 2764 Shell Bark Road offers a rare value-add play with no rental restrictions and no HOA, making it ideal for fix-and-flip, long-term rental, or short-term rental strategies. This 3BR / 2.5BA home with 1,758 sq ft features a solid footprint and functional layout ready for renovation. Strong potential to force appreciation through cosmetic and light-to-moderate updates. Perfect for investors looking to capture equity and maximize returns. Owner financing available: $20,000 down, 7.75% interest, 15-year term, approx. $555.35/month — allowing investors to preserve capital and improve cash-on-cash returns. Located in a growing area with continued demand and easy access to key amenities, this is a prime opportunity to secure a high-margin project. Sold as-is. Bring your contractor and vision.

16. 2026-03-23
    listed $79,000 Active 861-char remark

    Show marketing remark (861 chars)

    Investor Special – High Upside Opportunity! 2764 Shell Bark Road offers a rare value-add play with no rental restrictions and no HOA, making it ideal for fix-and-flip, long-term rental, or short-term rental strategies. This 3BR / 2.5BA home with 1,758 sq ft features a solid footprint and functional layout ready for renovation. Strong potential to force appreciation through cosmetic and light-to-moderate updates. Perfect for investors looking to capture equity and maximize returns. Owner financing available: $20,000 down, 7.75% interest, 15-year term, approx. $555.35/month — allowing investors to preserve capital and improve cash-on-cash returns. Located in a growing area with continued demand and easy access to key amenities, this is a prime opportunity to secure a high-margin project. Sold as-is. Bring your contractor and vision.

17. 1984-11-01
    soldstatus $67,999

ⓘ 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: $1,485 · $124/mo
• Projected year-2 tax: $1,485 · $124/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 5/10 Major 26% 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: $25,790
• − Mortgage interest: −$4,425
• − Property taxes: −$1,485
• − Insurance: −$395
• − Repairs & maintenance: −$2,063
• − Management: −$2,063
• − Depreciation: −$2,298
• Taxable income: $13,060
• Est. tax owed @ 24.0%: −$3,134
• After-tax cash flow: $10,388/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 — Stonecrest

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Dekalb County · 782,738 people
• City population: 106,165
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 21,569
• Household income: $66,799
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1304.0

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% White 4% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1% Swiss 0%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 4% French/Haitian/Cajun 2%

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: ▼ -111.60%
• Current HPI: 218.8323
• Rent YoY: ▲ 0.87%
• 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

+16.2% since first listed

3 events — show timeline

• 2026-03-23 Listed $79,000 FMLS
• 2026-03-23 Listed $79,000 GAMLS
• 1984-11-01 Sold (Public Records) $67,999 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,485 · +0.2% YoY. Source: county tax records.