2054 Cogar Dr · Candler-McAfee, GA 30032

$350,000

4 bd · 1.0 ba · 2,054 sqft · SingleFamily public records · 27 Days on market

Built 1951 0.25 ac lot $170/sqft · 29% below area Est $490k · 29% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.5/30.0
• DSCR +4.4/10.0
• 1% rule +3.5/10.0
• Rent growth +2.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Five minutes from your front door sits East Lake Golf Course, home of the PGA Tour Championship. This four-bedroom Decatur home sits in one of Atlanta's most connected in-town corridors with the feel of a real neighborhood and the convenience of having everything within reach. Hardwood floors carry through the main living areas and set a tone that feels warm and intentional from the start. The kitchen brings granite countertops, stainless steel appliances, and solid cabinetry together in a layout built for real cooking and real conversation. Two bedrooms on the main level and two upstairs give the floor plan genuine flexibility, whether you need a home office, guest suite, or dedicated space for everyone. Upstairs, the primary bedroom delivers an en-suite that most buyers have to spend significantly more to get, a double vanity, a large jetted soaking tub, and a separate enclosed shower. Out back, the flat yard and large patio were made for the kind of entertaining this neighborhood inspires. The oversized outbuilding is the sleeper feature: workshop, studio, or ADU conversion with real income potential in one of Atlanta's hottest intown zip codes. East Atlanta Village, Kirkwood, Oakhurst, and Downtown Decatur are minutes away. MARTA, I-20, I-75, and I-85 are all within easy reach. Intown Atlanta living at a price that still makes sense. Come see it in person.

Key facts

• Adu conversion
• Granite countertops
• 0.25 acre lot

Tags

• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LARGE JETTED SOAKING TUB
• OVERSIZED OUTBUILDING
• ADU CONVERSION

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $76 ($908/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $298k (14.8% below list).
• Recommended offer: $298k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.2% in Candler-McAfee — 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 D — 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.
• Zoned schools: Oakcliff Elementary School (math 15% / reading 21%, grade F, #926 of 1,228 statewide, top 76%, 660 students, 94% FRL); Mcnair Middle School (math 5% / reading 8%, grade F, #457 of 470 statewide, top 98%, 857 students, 100% FRL); Mcnair High School (math 2% / reading 5%, grade F, #413 of 424 statewide, top 99%, 768 students, 100% FRL) — zoned schools average 98% FRL vs 68% district-wide (30 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 (+1.3%/yr); 431 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $10k 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

• It's been on market 27 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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 $38k; list at $350k implies a 816% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• 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 $298,104 (14.8% below list)

Questions for the listing agent

1. Built in 1951 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.85% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.93%
• DSCR: 1.04
• GRM: 9.8

CMA / ARV

• ARV (median comp): $490,465
• List price: $350,000
• Delta: -28.64%
• 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
2054 Cogar Dr	0.00mi	4/2.5	2,054 (0%)	1mo	$350,000	$170	93
2018 Marco Dr	0.11mi	4/3.0	2,050 (-0%)	8mo	$575,000	$280	80
1888 Delphine Dr	0.14mi	4/3.0	2,135 (+4%)	1mo	$448,900	$210	78
2025 Mcafee Rd	0.21mi	4/2.0	2,205 (+7%)	2mo	$475,000	$215	72
2001 Swazey Dr	0.30mi	4/4.5	2,127 (+4%)	5mo	$625,000	$294	62
2009 Delphine Dr	0.17mi	3/2.5 (-1)	1,868 (-9%)	6mo	$459,000	$246	61
2076 Garden Cir	0.26mi	4/2.0	1,790 (-13%)	6mo	$212,000	$118	57
673 Quillian Ave	0.46mi	3/2.5 (-1)	2,212 (+8%)	3mo	$522,500	$236	52
1978 Ethel Ln	0.52mi	3/2.0 (-1)	1,764 (-14%)	8mo	$325,000	$184	36
2512 Alston Dr SE	0.74mi	3/2.0 (-1)	2,339 (+14%)	1mo	$515,900	$221	32
494 Rosemont Dr	0.67mi	3/2.0 (-1)	1,764 (-14%)	7mo	$495,000	$281	31
2352 Marion Cir	0.72mi	3/2.5 (-1)	1,752 (-15%)	4mo	$490,000	$280	27

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 · 1.34% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.42×
• Total profit: $-56,835
• Equity at exit: $52,186

10-year hold

• IRR: -11.5%
• Equity multiple: 0.36×
• Total profit: $-62,891
• Equity at exit: $30,262

Cash invested: $98,000 (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 30032

• Rents YoY: 1.3%
• Active inventory: 431
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,981 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$298 /mo · $3,577/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$626
• Net cashflow: $76

Break-even live

Break-even rent $2,885

Max offer price $350,000

Occupancy floor 92%

Sensitivity live

Price	-10% $274	-5% $175	+0% $76	+5% $-23	+10% $-122
Rent	-10% $-160	-5% $-42	+0% $76	+5% $193	+10% $311
Rate	-1.0pp $252	-0.5pp $165	base $76	+0.5pp $-15	+1.0pp $-107

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1881 2nd Ave Decatur, GA	3.0	1.0–2.5	1010	$3,761	$3.72	4d	60	0.32mi
2043 Juanita St Decatur, GA	3.0	2.0	1500	$3,000	$2.00	45d	1	0.39mi
1892 Terry Mill Rd SE Atlanta, GA	4.0	2.0	1925	$2,975	$1.55	45d	1	0.40mi
1932 Camellia Dr Decatur, GA	4.0	3.0	2200	$1,800	$0.82	24d	1	0.52mi
2181 Juanita St Decatur, GA	4.0	3.0	1595	$3,500	$2.19	26d	1	0.59mi
2176 Lilac Ln Decatur, GA	3.0	2.0	1800	$1,395	$0.78	26d	1	0.69mi
2000 Bencal Dr SE Atlanta, GA	3.0	2.0	1500	$1,850	$1.23	26d	1	0.75mi
254 2nd Ave SE Atlanta, GA	3.0	2.0	1715	$2,895	$1.69	5d	1	0.79mi
2424 Memorial Dr SE #4 Atlanta, GA	3.0	3.5	2000	$3,250	$1.62	26d	1	0.87mi
1930 Normal St Decatur, GA	4.0	2.0	1459	$1,850	$1.27	45d	1	0.92mi
1928 Shawn Wayne Cir SE Atlanta, GA	3.0	2.0	2614	$1,895	$0.72	3d	1	0.95mi
2352 Second Ave Decatur, GA	3.0	3.0	2347	$2,695	$1.15	26d	1	0.99mi
1878 South Hampton Ln SE Atlanta, GA	3.0	2.5	1890	$2,616	$1.38	26d	1	1.02mi
1872 Cannon St Decatur, GA	4.0	3.0	1518	$2,695	$1.78	1d	1	1.03mi
1872 Cannon St Decatur, GA	4.0	3.0	1518	$2,695	$1.78	7d	1	1.03mi
2347 Hosea L Williams Dr SE #8 Atlanta, GA	3.0	3.5	2400	$4,495	$1.87	21d	1	1.09mi
2347 Hosea L Williams Dr SE #8 Atlanta, GA	3.0	3.5	2400	$4,495	$1.87	0d	1	1.09mi
2017 Memorial Dr SE Atlanta, GA	5.0	2.5	2100	$6,500	$3.10	0d	1	1.21mi
2570 Castellan Dr Atlanta, GA	3.0	2.5	1576	$2,700	$1.71	26d	1	1.23mi
2378 Charleston Pointe SE Atlanta, GA	3.0	3.0	1604	$2,100	$1.31	24d	1	1.35mi
2330 1st Ave NE Atlanta, GA	3.0	3.0	2016	$8,100	$4.02	0d	1	1.36mi
1540 Millwood Pl SE Atlanta, GA	3.0	3.5	1440	$3,000	$2.08	45d	1	1.39mi
2407 Summerland Dr Decatur, GA	3.0	2.0	1515	$1,800	$1.19	3d	1	1.42mi
2297 Charleston Pointe SE Atlanta, GA	3.0	2.0	1604	$2,200	$1.37	45d	1	1.43mi
2577 Dusty Ln Decatur, GA	3.0	2.0	1685	$2,400	$1.42	20d	1	1.44mi
202 Warren St SE Atlanta, GA	3.0	2.0	1466	$2,500	$1.71	20d	1	1.45mi
1919 Bixby St SE Atlanta, GA	3.0	3.0	2516	$6,500	$2.58	3d	1	1.46mi
2447 Whites Mill Ln Decatur, GA	4.0	2.5	2050	$2,349	$1.15	45d	1	1.50mi

Listing history 14 events

1. 2026-06-07
   statuslisting id $350,000 Under Contract 27 DOM
2. 2026-05-14
   status Under Contract 1394-char remark

   Show marketing remark (1394 chars)

   Five minutes from your front door sits East Lake Golf Course, home of the PGA Tour Championship. This four-bedroom Decatur home sits in one of Atlanta's most connected in-town corridors with the feel of a real neighborhood and the convenience of having everything within reach. Hardwood floors carry through the main living areas and set a tone that feels warm and intentional from the start. The kitchen brings granite countertops, stainless steel appliances, and solid cabinetry together in a layout built for real cooking and real conversation. Two bedrooms on the main level and two upstairs give the floor plan genuine flexibility, whether you need a home office, guest suite, or dedicated space for everyone. Upstairs, the primary bedroom delivers an en-suite that most buyers have to spend significantly more to get, a double vanity, a large jetted soaking tub, and a separate enclosed shower. Out back, the flat yard and large patio were made for the kind of entertaining this neighborhood inspires. The oversized outbuilding is the sleeper feature: workshop, studio, or ADU conversion with real income potential in one of Atlanta's hottest intown zip codes. East Atlanta Village, Kirkwood, Oakhurst, and Downtown Decatur are minutes away. MARTA, I-20, I-75, and I-85 are all within easy reach. Intown Atlanta living at a price that still makes sense. Come see it in person.

3. 2026-05-14
   status Pending 1394-char remark

   Show marketing remark (1394 chars)

   Five minutes from your front door sits East Lake Golf Course, home of the PGA Tour Championship. This four-bedroom Decatur home sits in one of Atlanta's most connected in-town corridors with the feel of a real neighborhood and the convenience of having everything within reach. Hardwood floors carry through the main living areas and set a tone that feels warm and intentional from the start. The kitchen brings granite countertops, stainless steel appliances, and solid cabinetry together in a layout built for real cooking and real conversation. Two bedrooms on the main level and two upstairs give the floor plan genuine flexibility, whether you need a home office, guest suite, or dedicated space for everyone. Upstairs, the primary bedroom delivers an en-suite that most buyers have to spend significantly more to get, a double vanity, a large jetted soaking tub, and a separate enclosed shower. Out back, the flat yard and large patio were made for the kind of entertaining this neighborhood inspires. The oversized outbuilding is the sleeper feature: workshop, studio, or ADU conversion with real income potential in one of Atlanta's hottest intown zip codes. East Atlanta Village, Kirkwood, Oakhurst, and Downtown Decatur are minutes away. MARTA, I-20, I-75, and I-85 are all within easy reach. Intown Atlanta living at a price that still makes sense. Come see it in person.

4. 2026-04-17
   listed $350,000 New 1394-char remark

   Show marketing remark (1394 chars)

   Five minutes from your front door sits East Lake Golf Course, home of the PGA Tour Championship. This four-bedroom Decatur home sits in one of Atlanta's most connected in-town corridors with the feel of a real neighborhood and the convenience of having everything within reach. Hardwood floors carry through the main living areas and set a tone that feels warm and intentional from the start. The kitchen brings granite countertops, stainless steel appliances, and solid cabinetry together in a layout built for real cooking and real conversation. Two bedrooms on the main level and two upstairs give the floor plan genuine flexibility, whether you need a home office, guest suite, or dedicated space for everyone. Upstairs, the primary bedroom delivers an en-suite that most buyers have to spend significantly more to get, a double vanity, a large jetted soaking tub, and a separate enclosed shower. Out back, the flat yard and large patio were made for the kind of entertaining this neighborhood inspires. The oversized outbuilding is the sleeper feature: workshop, studio, or ADU conversion with real income potential in one of Atlanta's hottest intown zip codes. East Atlanta Village, Kirkwood, Oakhurst, and Downtown Decatur are minutes away. MARTA, I-20, I-75, and I-85 are all within easy reach. Intown Atlanta living at a price that still makes sense. Come see it in person.

5. 2026-04-17
   listed $350,000 Active 1394-char remark

   Show marketing remark (1394 chars)

   Five minutes from your front door sits East Lake Golf Course, home of the PGA Tour Championship. This four-bedroom Decatur home sits in one of Atlanta's most connected in-town corridors with the feel of a real neighborhood and the convenience of having everything within reach. Hardwood floors carry through the main living areas and set a tone that feels warm and intentional from the start. The kitchen brings granite countertops, stainless steel appliances, and solid cabinetry together in a layout built for real cooking and real conversation. Two bedrooms on the main level and two upstairs give the floor plan genuine flexibility, whether you need a home office, guest suite, or dedicated space for everyone. Upstairs, the primary bedroom delivers an en-suite that most buyers have to spend significantly more to get, a double vanity, a large jetted soaking tub, and a separate enclosed shower. Out back, the flat yard and large patio were made for the kind of entertaining this neighborhood inspires. The oversized outbuilding is the sleeper feature: workshop, studio, or ADU conversion with real income potential in one of Atlanta's hottest intown zip codes. East Atlanta Village, Kirkwood, Oakhurst, and Downtown Decatur are minutes away. MARTA, I-20, I-75, and I-85 are all within easy reach. Intown Atlanta living at a price that still makes sense. Come see it in person.

6. 2012-06-06
   historical
7. 2012-03-20
   listed $179,000 New
8. 2010-06-24
   historical
9. 2010-06-01
   soldstatus $38,200 Sold
10. 2010-04-20
    status Pending
11. 2010-04-02
    status Active
12. 2010-04-02
    status Pending
13. 2010-03-19
    listed $38,900 Active
14. 1992-07-01
    soldstatus $42,000

ⓘ 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: $3,577 · $298/mo
• Projected year-2 tax: $3,577 · $298/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 5/10 Major 7 d/yr ≥104°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 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,772
• − Mortgage interest: −$19,605
• − Property taxes: −$3,577
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,862
• − Management: −$2,862
• − Depreciation: −$10,182
• Taxable loss: −$5,065
• Est. tax savings @ 24.0%: +$1,216
• After-tax cash flow: $2,124/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 — Candler-McAfee

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

Census & demographics

• Census place: Candler-McAfee, GA
• County: Dekalb County · 782,738 people
• City population: 42,812
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 42,948
• Household income: $62,765
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 2097.0

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 (70%)
• Race & ethnicity: Black 70% White 18% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 7% · Canada, China, Guatemala
• Languages at home: 91% English-only · Spanish 4% Arabic 1% Other Indo-European 0%

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: ▼ -203.83%
• Current HPI: 221.0467
• Rent YoY: ▲ 1.34%
• 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

+733.3% since first listed

13 events — show timeline

• 2026-05-14 Pending — GAMLS
• 2026-05-14 Pending — FMLS
• 2026-04-17 Listed $350,000 FMLS
• 2026-04-17 Listed $350,000 GAMLS
• 2012-06-06 Listing Removed — GAMLS
• 2012-03-20 Listed $179,000 GAMLS
• 2010-06-24 Listing Removed — FMLS
• 2010-06-01 Sold (MLS) $38,200 FMLS
• 2010-04-20 Pending — FMLS
• 2010-04-02 Relisted — FMLS
• 2010-04-02 Pending — FMLS
• 2010-03-19 Listed $38,900 FMLS
• 1992-07-01 Sold (Public Records) $42,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $3,577 · -17.4% YoY. Source: county tax records.