184 Cave Springs Ct · Stonecrest, GA 30294

$204,900

3 bd · 2.0 ba · 1,596 sqft · SingleFamily public records · 82 Days on market

Built 1977 0.37 ac lot $128/sqft · 15% below area Est $240k · 15% 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 +14.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.6/5.0
• Schools +2.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Quiet Cul-de-Sac Living in Panola Woods! Discover the perfect blend of space and convenience in this charming 4-bedroom, 2-bathroom traditional home. Nestled on a generous 0.37-acre level lot, this 1.5-story residence is designed for modern flexibility. The sought-after Master on Main layout features two bedrooms and a full bath on the first floor, while the upper level provides two additional spacious bedrooms and a second full bath-ideal for a growing family, a private home office, or guest quarters. The heart of the home is a functional kitchen with kitchen-level entry from the oversized 2-car attached garage, making grocery runs a breeze. Enjoy the peace of mind that comes with public water and sewer services and a low-maintenance slab foundation. Relax on the rocking-chair front porch or retreat to the deep, private backyard at the end of this quiet, low-traffic street. With neutral flooring throughout and a classic composition roof, this home is a blank canvas ready for your personal touch. Conveniently located near shopping, dining, and easy interstate access-schedule your private tour today!

Key facts

• Functional kitchen
• Private backyard
• Cul-de-sac living

Tags

• CUL-DE-SAC LIVING
• MASTER ON MAIN LAYOUT
• FUNCTIONAL KITCHEN
• PUBLIC WATER AND SEWER
• ROCKING-CHAIR FRONT PORCH
• PRIVATE BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $193k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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.
• Henry County (rural): math 24% / reading 33% proficiency, ranked #89 of 174 in GA (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Fairview Elementary School (math 22% / reading 27%, grade F, #753 of 1,228 statewide, top 64%, 566 students, 69% FRL); Austin Road Middle School (math 15% / reading 35%, grade F, #291 of 470 statewide, top 64%, 542 students, 68% FRL); Stockbridge High School (math 5% / reading 28%, grade F, #284 of 424 statewide, top 67%, 1,543 students, 54% FRL) — zoned schools average 64% FRL vs 43% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.6%/yr); 254 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,989 units permitted in Henry County in 2024 (92 in 5+ unit buildings).
• At $3,089/mo this rent would consume 46% of the median local household income ($80k/yr) (locally 864% 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.
• Henry County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $57k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $120k; list at $205k implies a 71% 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.51% ✓
• Cap rate: 12.24%
• Cash-on-cash: 21.23%
• DSCR: 1.94
• GRM: 5.5

CMA / ARV

• ARV (median comp): $239,994
• List price: $204,900
• Delta: -14.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1028 Strawberry Ln	0.31mi	3/2.0	1,594 (-0%)	2mo	$235,000	$147	84
165 Wilhelmina Dr	0.14mi	3/2.0	1,375 (-14%)	1mo	$247,000	$180	70
326 Acaro Ct	0.51mi	3/2.0	1,567 (-2%)	11mo	$255,000	$163	64
4934 Brookstone Pkwy	0.36mi	3/2.0	1,459 (-9%)	7mo	$226,000	$155	63
35 Fairfield Dr	0.37mi	3/2.0	1,488 (-7%)	12mo	$249,000	$167	61
322 Acaro Ct	0.53mi	3/2.0	1,502 (-6%)	7mo	$218,600	$146	60
30 Fairfield Dr	0.39mi	3/2.0	1,414 (-11%)	14mo	$260,000	$184	52
1015 Strawberry Ln	0.28mi	3/2.0	1,827 (+14%)	18mo	$256,000	$140	48
177 Hill Ln	0.44mi	3/2.0	1,435 (-10%)	19mo	$222,000	$155	47
361 Chateauguay Dr	0.65mi	3/2.0	1,496 (-6%)	20mo	$245,000	$164	43
50 Juliana Dr	0.14mi	4/3.0 (+1)	1,824 (+14%)	22mo	$225,000	$123	42
33 Glen Ct	0.36mi	3/2.0	1,835 (+15%)	21mo	$247,000	$135	41

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 · 4.56% rent growth · sell at horizon

5-year hold

• IRR: 15.5%
• Equity multiple: 1.63×
• Total profit: $36,411
• Equity at exit: $30,551

10-year hold

• IRR: 25.3%
• Equity multiple: 3.37×
• Total profit: $136,007
• Equity at exit: $17,716

Cash invested: $57,372 (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 30294

• Home prices YoY: -25.0%
• Rents YoY: 4.6%
• Active inventory: 254
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,089 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$265 /mo · $3,185/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$649
• Net cashflow: $1,015

Break-even live

Break-even rent $1,804

Max offer price $204,900

Occupancy floor 62%

Sensitivity live

Price	-10% $1,131	-5% $1,073	+0% $1,015	+5% $957	+10% $899
Rent	-10% $771	-5% $893	+0% $1,015	+5% $1,137	+10% $1,259
Rate	-1.0pp $1,118	-0.5pp $1,067	base $1,015	+0.5pp $962	+1.0pp $908

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
85 Wilhelmina Dr Ellenwood, GA	3.0	2.0	1600	$4,900	$3.06	45d	1	0.06mi
65 Juliana Dr Ellenwood, GA	4.0	2.5	2000	$5,200	$2.60	45d	1	0.15mi
4910 Brookstone Pkwy Ellenwood, GA	4.0	3.0	1728	$1,995	$1.15	3d	1	0.43mi
3971 Brookstone Ct Ellenwood, GA	4.0	2.5	1891	$2,256	$1.19	7d	1	0.47mi
3637 Windmill Rd Ellenwood, GA	3.0	1.0	1200	$1,695	$1.41	26d	1	0.83mi
4676 Tara Creek Trl Ellenwood, GA	4.0	3.0	2188	$1,966	$0.90	1d	1	1.06mi
67 Poole Cir Ellenwood, GA	3.0	2.0	1080	$1,475	$1.37	20d	1	1.44mi
65 Poole Cir Ellenwood, GA	3.0	2.0	1080	$1,475	$1.37	20d	1	1.44mi
48 Poole Cir Ellenwood, GA	3.0	2.0	1080	$1,475	$1.37	20d	1	1.45mi
46 Poole Cir Ellenwood, GA	3.0	2.0	1080	$1,475	$1.37	26d	1	1.47mi

Listing history 24 events

1. 2026-06-21
   days on market $204,900 Active 82 DOM
2. 2026-06-18
   days on market $204,900 Active 79 DOM
3. 2026-06-17
   days on market $204,900 Active 78 DOM
4. 2026-06-16
   days on market $204,900 Active 77 DOM
5. 2026-06-15
   days on market $204,900 Active 76 DOM
6. 2026-06-13
   days on market $204,900 Active 74 DOM
7. 2026-06-09
   statusdays on market $204,900 Active 70 DOM
8. 2026-06-08
   days on market $204,900 Price Change 69 DOM
9. 2026-06-07
   pricestatusdays on market $204,900 Price Change 68 DOM
10. 2026-06-04
    days on market $214,900 Active 65 DOM
11. 2026-06-03
    days on market $214,900 Active 64 DOM
12. 2026-06-02
    days on market $214,900 Active 63 DOM
13. 2026-06-01
    days on market $214,900 Active 62 DOM
14. 2026-05-31
    days on market $214,900 Active 61 DOM
15. 2026-05-14
    price $214,900 1119-char remark

    Show marketing remark (1119 chars)

    Quiet Cul-de-Sac Living in Panola Woods! Discover the perfect blend of space and convenience in this charming 4-bedroom, 2-bathroom traditional home. Nestled on a generous 0.37-acre level lot, this 1.5-story residence is designed for modern flexibility. The sought-after Master on Main layout features two bedrooms and a full bath on the first floor, while the upper level provides two additional spacious bedrooms and a second full bath-ideal for a growing family, a private home office, or guest quarters. The heart of the home is a functional kitchen with kitchen-level entry from the oversized 2-car attached garage, making grocery runs a breeze. Enjoy the peace of mind that comes with public water and sewer services and a low-maintenance slab foundation. Relax on the rocking-chair front porch or retreat to the deep, private backyard at the end of this quiet, low-traffic street. With neutral flooring throughout and a classic composition roof, this home is a blank canvas ready for your personal touch. Conveniently located near shopping, dining, and easy interstate access-schedule your private tour today!

16. 2026-04-24
    price $219,900 1119-char remark

    Show marketing remark (1119 chars)

    Quiet Cul-de-Sac Living in Panola Woods! Discover the perfect blend of space and convenience in this charming 4-bedroom, 2-bathroom traditional home. Nestled on a generous 0.37-acre level lot, this 1.5-story residence is designed for modern flexibility. The sought-after Master on Main layout features two bedrooms and a full bath on the first floor, while the upper level provides two additional spacious bedrooms and a second full bath-ideal for a growing family, a private home office, or guest quarters. The heart of the home is a functional kitchen with kitchen-level entry from the oversized 2-car attached garage, making grocery runs a breeze. Enjoy the peace of mind that comes with public water and sewer services and a low-maintenance slab foundation. Relax on the rocking-chair front porch or retreat to the deep, private backyard at the end of this quiet, low-traffic street. With neutral flooring throughout and a classic composition roof, this home is a blank canvas ready for your personal touch. Conveniently located near shopping, dining, and easy interstate access-schedule your private tour today!

17. 2026-03-31
    listed $224,900 New 1119-char remark

    Show marketing remark (1119 chars)

    Quiet Cul-de-Sac Living in Panola Woods! Discover the perfect blend of space and convenience in this charming 4-bedroom, 2-bathroom traditional home. Nestled on a generous 0.37-acre level lot, this 1.5-story residence is designed for modern flexibility. The sought-after Master on Main layout features two bedrooms and a full bath on the first floor, while the upper level provides two additional spacious bedrooms and a second full bath-ideal for a growing family, a private home office, or guest quarters. The heart of the home is a functional kitchen with kitchen-level entry from the oversized 2-car attached garage, making grocery runs a breeze. Enjoy the peace of mind that comes with public water and sewer services and a low-maintenance slab foundation. Relax on the rocking-chair front porch or retreat to the deep, private backyard at the end of this quiet, low-traffic street. With neutral flooring throughout and a classic composition roof, this home is a blank canvas ready for your personal touch. Conveniently located near shopping, dining, and easy interstate access-schedule your private tour today!

18. 2011-03-17
    price $74,900 Increased
19. 2011-01-19
    price $24,900 Reduced
20. 2011-01-06
    price $29,900
21. 2010-12-29
    price $35,900
22. 2010-12-21
    price $39,900 Reduced
23. 2006-01-18
    soldstatus $120,000
24. 1977-11-01
    soldstatus $42,900

ⓘ 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: $3,185 · $265/mo
• Projected year-2 tax: $3,185 · $265/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 5/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,066
• − Mortgage interest: −$11,478
• − Property taxes: −$3,185
• − Insurance: −$1,024
• − Repairs & maintenance: −$2,965
• − Management: −$2,965
• − Depreciation: −$5,961
• Taxable income: $9,488
• Est. tax owed @ 24.0%: −$2,277
• After-tax cash flow: $9,901/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: Henry County
• NCES district ID: 1302820
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $62,594
• Composite: 26.13/100
• National rank: #7279
• State rank: #89 of 174 in GA

Livability — Stonecrest

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

Census & demographics

• County: Henry County · 316,359 people
• City population: 106,165
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 41,983
• Household income: $79,762
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 864.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 249,041 people
• By 2030: 264,369 · +6.2%
• By 2040: 294,459 · +18.2%
• By 2050: 322,249 · +29.4%
• By 2075: 392,310 · +57.5%
• By 2100: 437,836 · +75.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (84%)
• Race & ethnicity: Black 84% Hispanic / Latino 7% Two or more races 6% White 6% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Hispanic 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 6% Vietnamese 1% French/Haitian/Cajun 1%

Political lean MEDSL · Henry

• 2024 margin: Strong D (+29.7) · D 64.5% · R 34.9%
• 2008→2024 swing: +37.1pp toward D · 2008: -7.5pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+20.5 2016: D+4.3 2012: R+3.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.99%
• Current HPI: 213.1999
• Rent YoY: ▲ 4.56%
• 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

+400.9% since first listed

10 events — show timeline

• 2026-05-14 Price Changed $214,900 GAMLS
• 2026-04-24 Price Changed $219,900 GAMLS
• 2026-03-31 Listed $224,900 GAMLS
• 2011-03-17 Price Changed $74,900 GAMLS
• 2011-01-19 Price Changed $24,900 GAMLS
• 2011-01-06 Price Changed $29,900 GAMLS
• 2010-12-29 Price Changed $35,900 GAMLS
• 2010-12-21 Price Changed $39,900 GAMLS
• 2006-01-18 Sold (Public Records) $120,000 Public Records
• 1977-11-01 Sold (Public Records) $42,900 Public Records

Property tax history

+5.2%/yr

Latest (2025): $3,185 · -0.5% YoY. Source: county tax records.