5204 Waldrop Pl · Panthersville, GA 30034

$100,000

3 bd · 2.0 ba · 1,292 sqft · Condo public records · 7 Days on market

Built 2005 $250/mo HOA · 14% of rent

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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
• Livability +3.3/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute, well-maintained, and move-in ready! This one-level condo in the Waldrop Park community offers great space and convenience, making it a great option for investors or first-time home buyers. The home features 3 bedrooms, 2 full bathrooms, and an open family room that flows into the dining area. The kitchen includes laundry connections for added convenience. The primary suite offers its own private full bathroom, while the two secondary bedrooms share one spacious hallway bathroom with an oversized tub. Conveniently located near highways, restaurants, shopping, and everyday essentials. Easy to show and ready for its next owner.

Key facts

• $250 HOA
• Built 2005
• Listed 6 days

Property features AI

Finance

• Other: Asphalt road access; Directions: Please use GPS
• HOA & community: Monthly association fee ($250) covering grounds maintenance, structure maintenance, and trash; Homeowners association; Playground in the community

Exterior

• Parking: Shared parking lot
• Utilities: Public water; Public sewer; Cable available
• Home design: One-story condominium; Resale property; Slab foundation; Composition roof
• Construction: Aluminum and vinyl siding
• Exterior features: Rear stairs; On-site storage; Breezeway

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Stain-finish cabinets; Laminate countertops; Open view to the family room
• Bedrooms: Three main-level bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms (both on the main level); Master bathroom with no special features listed
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Double pane windows; One shared/common wall; Other interior features
• Laundry & utility: Laundry room; Washer/dryer hookups in kitchen area (laundry located in/near kitchen)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 11.1% vs local median 5.3% in Panthersville — 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 (#180 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D, amenities 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: Cedar Grove Middle School (math 2% / reading 17%, grade F, #433 of 470 statewide, top 93%, 777 students, 100% FRL); Cedar Grove High School (math 8% / reading 17%, grade F, #336 of 424 statewide, top 80%, 1,123 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 11% at this address vs 24% district-wide (-12 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 (+2.2%/yr); 355 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 33% of the median local income ($64k/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 $691 of loan paydown is wiped out by about $3k 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 + 2.2% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $71k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $100,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.75% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.34%
• DSCR: 1.77
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.18% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.30×
• Total profit: $8,339
• Equity at exit: $14,910

10-year hold

• IRR: 16.2%
• Equity multiple: 2.27×
• Total profit: $35,489
• Equity at exit: $8,646

Cash invested: $28,000 (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 30034

• Home prices YoY: -27.4%
• Rents YoY: 2.2%
• Active inventory: 355
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,752 high
• Mortgage (P&I): −$524
• Tax from tax record: −$163 /mo · $1,959/yr
• Insurance: −$42
• HOA: −$250
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $405

Break-even live

Break-even rent $1,240

Max offer price $100,000

Occupancy floor 72%

Sensitivity live

Price	-10% $461	-5% $433	+0% $405	+5% $376	+10% $348
Rent	-10% $266	-5% $335	+0% $405	+5% $474	+10% $543
Rate	-1.0pp $455	-0.5pp $430	base $405	+0.5pp $379	+1.0pp $352

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6201 Waldrop Pl Decatur, GA	3.0	2.0	1300	$1,350	$1.04	19d	1	0.06mi
6303 Waldrop Pl Decatur, GA	3.0	2.0	1292	$1,900	$1.47	44d	1	0.06mi
3101 Waldrop Pl Decatur, GA	3.0	2.0	1290	$1,395	$1.08	44d	1	0.07mi
3489 Waldrop Trl Decatur, GA	3.0	2.5	1400	$1,400	$1.00	44d	1	0.07mi
11101 Waldrop Pl Decatur, GA	3.0	2.0	1293	$1,550	$1.20	44d	1	0.08mi
3474 Waldrop Trl Decatur, GA	3.0	2.5	1412	$800	$0.57	44d	1	0.09mi
3516 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,800	$1.15	44d	1	0.12mi
17301 Waldrop Cv Decatur, GA	3.0	2.0	1292	$1,550	$1.20	44d	1	0.13mi
17301 Waldrop Cv Decatur, GA	3.0	2.0	1292	$1,550	$1.20	19d	1	0.13mi
3525 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,695	$1.09	23d	1	0.14mi
3914 Waldrop Ln Decatur, GA	3.0	3.0	1560	$1,697	$1.09	5d	1	0.20mi
3906 Waldrop Ln Decatur, GA	3.0	2.5	1560	$1,700	$1.09	44d	1	0.22mi
3169 Kingswood Gln Decatur, GA	3.0	2.5	1560	$1,575	$1.01	44d	1	0.29mi
3075 Oakvale Hts Decatur, GA	3.0	2.5	1810	$2,095	$1.16	0d	1	0.30mi
3189 Kingswood Gln Decatur, GA	2.0	2.5	1152	$2,100	$1.82	44d	1	0.33mi
3364 Waldrop Trl Decatur, GA	3.0	3.0	1200	$1,800	$1.50	44d	1	0.34mi
3319 Waldrop Trl Decatur, GA	3.0	2.5	1600	$1,600	$1.00	19d	1	0.34mi
3326 Waldrop Trl Decatur, GA	3.0	2.5	1560	$1,761	$1.13	21d	1	0.38mi
3798 Waldrop Ln Decatur, GA	3.0	2.5	1412	$1,680	$1.19	21d	1	0.39mi
3804 Waldrop Ln Decatur, GA	3.0	2.5	1412	$1,850	$1.31	25d	1	0.39mi
3754 Waldrop Ln Decatur, GA	3.0	2.5	1560	$1,625	$1.04	44d	1	0.42mi
3516 Kingswood Run Unit 1 Decatur, GA	2.0	2.0	988	$1,500	$1.52	25d	1	0.47mi
3644 Gray Birch Dr Decatur, GA	3.0	2.0	1860	$2,000	$1.08	21d	1	0.49mi
3575 Oakvale Rd #402 Decatur, GA	3.0	2.0	1420	$1,623	$1.14	2d	1	0.52mi
4035 Flat Shoals Pkwy Decatur, GA	1.0–3.0	1.0–2.0	893	$1,679	$1.88	0d	28	0.54mi
3575 Oakvale Rd Decatur, GA	3.0–4.0	2.0	1374	$1,095	$0.80	16d	4	0.59mi
3574 Saratoga Cir Decatur, GA	3.0	2.5	1500	$2,103	$1.40	23d	1	0.65mi
3733 Waldrop Hills Dr Decatur, GA	3.0	2.5	1646	$2,023	$1.23	44d	1	0.70mi
3205 Quincetree Ln Decatur, GA	2.0	2.0	1218	$1,600	$1.31	19d	1	0.71mi
3186 Quincetree Ln Decatur, GA	2.0	2.0	994	$1,350	$1.36	44d	1	0.73mi
3554 Waldrop Rd Decatur, GA	3.0	2.5	1646	$2,135	$1.30	4d	1	0.73mi
2954 Vining Ridge Ln Decatur, GA	2.0	2.5	1528	$1,495	$0.98	44d	1	0.80mi
2725 Vining Ridge Ter Unit 2725 Decatur, GA	2.0	2.5	1590	$1,500	$0.94	44d	1	0.82mi
3828 Landgraf Cv Decatur, GA	3.0	2.0	1548	$2,073	$1.34	6d	1	0.85mi
2918 Vining Ridge Ter Decatur, GA	2.0	2.5	1528	$1,800	$1.18	6d	1	0.85mi
3716 Cress Way Dr Decatur, GA	4.0	2.5	1669	$2,160	$1.29	0d	1	0.87mi
3321 Peppertree Cir Decatur, GA	1.0–3.0	1.0	813	$1,299	$1.60	21d	31	0.87mi
2945 Woody Ct Decatur, GA	3.0	2.5	1488	$1,850	$1.24	25d	1	0.90mi
2805 Vining Ridge Ter Decatur, GA	3.0	2.5	1664	$1,600	$0.96	44d	1	0.90mi
3830 Riverside Pkwy Decatur, GA	3.0	2.5	1286	$1,865	$1.45	0d	1	0.90mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $100,000 Active 7 DOM
2. 2026-06-18
   days on market $100,000 Active 4 DOM
3. 2026-06-17
   days on market $100,000 Active 3 DOM
4. 2026-06-16
   statusdays on marketlisting id $100,000 Active 2 DOM
5. 2026-06-15
   days on market $100,000 New 4 DOM
6. 2026-06-13
   statusdays on market $100,000 New 2 DOM
7. 2026-06-09
   days on market $100,000 Coming Soon 7 DOM
8. 2026-06-08
   days on market $100,000 Coming Soon 6 DOM
9. 2026-06-07
   days on market $100,000 Coming Soon 5 DOM
10. 2026-06-04
    statusdays on market $100,000 Coming Soon 2 DOM
11. 2026-06-03
    statuslisting id $100,000 New 1 DOM
12. 2026-06-02
    remarks 638-char remark

    Show marketing remark (641 chars)

    Cute, well-maintained, and move-in ready! This one-level condo in the Waldrop Park community offers great space and convenience, making it a great option for investors or first-time home buyers. The home features 3 bedrooms, 2 full bathrooms, and an open family room that flows into the dining area. The kitchen includes laundry connections for added convenience. The primary suite offers its own private full bathroom, while the two secondary bedrooms share one spacious hallway bathroom with an oversized tub. Conveniently located near highways, restaurants, shopping, and everyday essentials. Easy to show and ready for its next owner.

13. 2026-06-02
    listed $100,000 Coming Soon 1 DOM

    Show marketing remark (641 chars)

    Cute, well-maintained, and move-in ready! This one-level condo in the Waldrop Park community offers great space and convenience, making it a great option for investors or first-time home buyers. The home features 3 bedrooms, 2 full bathrooms, and an open family room that flows into the dining area. The kitchen includes laundry connections for added convenience. The primary suite offers its own private full bathroom, while the two secondary bedrooms share one spacious hallway bathroom with an oversized tub. Conveniently located near highways, restaurants, shopping, and everyday essentials. Easy to show and ready for its next owner.

ⓘ 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: $1,959 · $163/mo
• Projected year-2 tax: $1,959 · $163/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 3/10 Moderate
• 🌡 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,022
• − Mortgage interest: −$5,602
• − Property taxes: −$1,959
• − Insurance: −$500
• − Repairs & maintenance: −$1,682
• − Management: −$1,682
• − HOA: −$3,000
• − Depreciation: −$2,909
• Taxable income: $3,689
• Est. tax owed @ 24.0%: −$885
• After-tax cash flow: $3,971/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 — Panthersville

• Score: 66/100
• State rank: #180
• US rank: #11244

Category grades

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

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): 41,847
• Household income: $63,517
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1659.0

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 (90%)
• Race & ethnicity: Black 90% White 4% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Hispanic 1% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 93% English-only · Spanish 2% French/Haitian/Cajun 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: ▼ -78.92%
• Current HPI: 209.5638
• Rent YoY: ▲ 2.18%
• 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

+43.1% since first listed

19 events — show timeline

• 2026-06-02 Coming Soon $100,000 FMLS
• 2026-06-02 Coming Soon $100,000 GAMLS
• 2025-09-26 Listing Removed — FMLS
• 2025-09-26 Listing Removed — GAMLS
• 2025-07-16 Price Changed $110,700 GAMLS
• 2025-07-01 Price Changed $110,700 FMLS
• 2025-04-22 Price Changed $113,500 FMLS
• 2025-04-21 Price Changed $113,500 GAMLS
• 2025-03-26 Listed $115,000 FMLS
• 2025-03-26 Listed $115,000 GAMLS
• 2025-03-25 Listing Removed — GAMLS
• 2024-10-05 Listed $122,500 GAMLS
• 2019-07-25 Sold (Public Records) $71,400 Public Records
• 2019-07-02 Sold (MLS) $71,400 GAMLS
• 2019-07-02 Sold (MLS) $71,400 FMLS
• 2019-05-18 Pending — FMLS
• 2019-05-18 Pending — GAMLS
• 2019-05-01 Listed $69,900 GAMLS
• 2019-05-01 Listed $69,900 FMLS

Property tax history

+6.9%/yr

Latest (2025): $1,959 · -5.3% YoY. Source: county tax records.