513 Luke Ct · Jonesboro, GA 30238

$177,500

3 bd · 3.0 ba · 1,980 sqft · SingleFamily public records · 89 Days on market

Built 2005 9,147 sqft lot $90/sqft · 29% below area Est $250k · 29% under

---

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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Livability +3.6/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 bedroom, 2.5 bath two story on quiet dead end street in Jonesboro. 1980 sq.ft. plus double garage. Large family room with fireplace. This is a cash or rehab loan only. Sold as-is with no seller disclosure.

Key facts

• 9,147 sq ft lot
• Garage
• Built 2005

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $178k).
• Recommended offer: $167k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 5.0% in Jonesboro — 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 72/100 on livability (#63 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime C-, employment D, schools F.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.1%/yr); 251 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).
• This rent runs 37% of the median local income ($62k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $166,850 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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 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: 1.08% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.73%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

• ARV (median comp): $250,207
• List price: $177,500
• Delta: -29.06%
• 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
9383 Woodknoll Way	0.24mi	3/2.0	1,764 (-11%)	0mo	$265,000	$150	66
652 Post Oak Rd	0.42mi	4/3.0 (+1)	2,005 (+1%)	10mo	$160,000	$80	65
396 Independence Dr	0.36mi	4/3.0 (+1)	1,920 (-3%)	12mo	$289,000	$151	63
337 Independence Dr	0.48mi	4/3.0 (+1)	1,884 (-5%)	3mo	$270,000	$143	62
381 Fleming Ct	0.25mi	3/2.5	2,208 (+12%)	12mo	$250,000	$113	57
548 Thomas Downs Way	0.52mi	3/2.5	1,872 (-6%)	10mo	$259,900	$139	57
9041 Southcrest Ct	0.57mi	3/2.5	1,924 (-3%)	13mo	$168,000	$87	56
453 Camp Hill Ln	0.51mi	3/2.5	1,743 (-12%)	6mo	$240,000	$138	49
254 Wood Duck Dr	0.74mi	3/2.5	2,058 (+4%)	11mo	$272,000	$132	48
301 Deerfield Dr	0.59mi	4/2.0 (+1)	1,785 (-10%)	1mo	$194,000	$109	46
895 Corinth Dr	0.71mi	3/2.0	1,840 (-7%)	7mo	$260,000	$141	45
8878 Raven Dr	0.75mi	4/2.0 (+1)	1,754 (-11%)	10mo	$256,000	$146	28

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 · 2.06% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.74×
• Total profit: $-12,773
• Equity at exit: $26,466

10-year hold

• IRR: 1.4%
• Equity multiple: 1.09×
• Total profit: $4,648
• Equity at exit: $15,347

Cash invested: $49,700 (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 30238

• Home prices YoY: -33.3%
• Rents YoY: 2.1%
• Active inventory: 251
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,913 high
• Mortgage (P&I): −$931
• Tax from tax record: −$228 /mo · $2,736/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $279

Break-even live

Break-even rent $1,560

Max offer price $177,500

Occupancy floor 80%

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: $44,375
• Closing costs: $5,325
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9265 Forest Knoll Dr Jonesboro, GA	3.0	2.0	1272	$2,400	$1.89	43d	1	0.07mi
9375 Woodknoll Way Jonesboro, GA	3.0	2.0	1558	$1,841	$1.18	43d	1	0.19mi
9370 Woodloop Ct Jonesboro, GA	3.0	2.0	1353	$1,781	$1.32	43d	1	0.23mi
9360 Thomas Rd Jonesboro, GA	3.0	2.0	1400	$1,700	$1.21	24d	1	0.27mi
505 Brookfield Way Jonesboro, GA	3.0	2.0	1400	$1,655	$1.18	24d	1	0.33mi
423 Brookfield Way Jonesboro, GA	3.0	2.0	1400	$1,745	$1.25	19d	1	0.37mi
566 Brookfield Way Jonesboro, GA	3.0	2.0	1432	$1,500	$1.05	43d	1	0.39mi
9432 Cypress Ln Jonesboro, GA	2.0	2.0	1253	$1,550	$1.24	24d	1	0.39mi
9432 Cypress Ln Jonesboro, GA	2.0	2.0	1253	$1,550	$1.24	15d	1	0.39mi
640 Post Oak Rd Jonesboro, GA	3.0	2.0	1508	$1,780	$1.18	5d	1	0.43mi
672 Raven Ct Jonesboro, GA	3.0	2.0	1362	$1,645	$1.21	43d	1	0.44mi
9471 Bogey Ct Jonesboro, GA	3.0	2.5	1560	$2,143	$1.37	5d	1	0.47mi
461 Camp Hill Ln Jonesboro, GA	3.0	2.5	2160	$1,825	$0.84	22d	1	0.48mi
655 Post Oak Rd Jonesboro, GA	3.0	1.0	1302	$1,600	$1.23	15d	1	0.48mi
9439 Sleepy Hollow Ln Jonesboro, GA	4.0	3.0	1500	$1,745	$1.16	24d	1	0.49mi
9430 Sleepy Hollow Ln Jonesboro, GA	3.0	2.0	1320	$1,680	$1.27	5d	1	0.50mi
372 Cheri Pl Jonesboro, GA	3.0	2.0	1468	$1,749	$1.19	24d	1	0.54mi
688 River Mist Dr Jonesboro, GA	4.0	3.0	2137	$1,995	$0.93	12d	1	0.54mi
9039 Raven Dr Jonesboro, GA	4.0	2.0	1560	$1,795	$1.15	43d	1	0.55mi
191 Marsh Glen Dr Jonesboro, GA	4.0	3.0	1550	$2,131	$1.37	4d	1	0.62mi
575 Oak Trace Ct Jonesboro, GA	3.0	2.0	1302	$1,761	$1.35	43d	1	0.68mi
9206 Fairway Ct Riverdale, GA	3.0	2.0	1353	$1,690	$1.25	43d	1	0.69mi
9602 Sleepy Hollow Ln Jonesboro, GA	3.0	2.0	1404	$1,600	$1.14	43d	1	0.75mi
9138 Clubhouse Dr Riverdale, GA	3.0	2.0	1312	$1,850	$1.41	24d	1	0.77mi
9245 Club View Trce Riverdale, GA	3.0	2.0	1588	$1,861	$1.17	2d	1	0.77mi
205 Inverness Trce Riverdale, GA	3.0	2.0	1490	$1,719	$1.15	43d	1	0.77mi
8837 Wesley Pl Jonesboro, GA	4.0	2.0	1899	$2,041	$1.07	43d	1	0.78mi
161 Sterling Ridge Dr Riverdale, GA	4.0	2.0	1686	$1,495	$0.89	24d	1	0.82mi
432 Wesley Park Dr Jonesboro, GA	3.0	2.0	1350	$1,685	$1.25	24d	1	0.83mi
8983 Habersham Dr Jonesboro, GA	4.0	2.0	1770	$1,910	$1.08	44d	1	0.84mi
90 Inverness Trce Riverdale, GA	3.0	2.0	1393	$1,670	$1.20	12d	1	0.85mi
57 Inverness Trce Jonesboro, GA	3.0	2.5	1452	$1,850	$1.27	43d	1	0.86mi
561 Chatham Trl Jonesboro, GA	4.0	2.5	2142	$2,275	$1.06	22d	1	0.86mi
9170 Dorsey Rd Riverdale, GA	4.0	2.0	1358	$1,500	$1.10	12d	1	0.92mi
9700 Pintail Trl Jonesboro, GA	3.0	2.5	1529	$1,900	$1.24	24d	1	0.93mi
779 Edenton Ct Jonesboro, GA	3.0	2.5	2165	$1,700	$0.79	19d	1	1.11mi
8669 Thomas Rd Riverdale, GA	3.0	2.5	1532	$1,623	$1.06	43d	1	1.13mi
8584 Guthrie Dr Riverdale, GA	3.0	2.0	1445	$1,650	$1.14	15d	1	1.15mi
8620 Guthrie Dr Riverdale, GA	4.0	2.5	2498	$2,406	$0.96	5d	1	1.16mi
8644 Thomas Ln Riverdale, GA	3.0	2.5	1530	$1,623	$1.06	43d	1	1.19mi

Listing history 16 events

1. 2026-06-16
   days on market $177,500 Active 89 DOM
2. 2026-06-15
   days on market $177,500 Active 88 DOM
3. 2026-06-13
   days on market $177,500 Active 86 DOM
4. 2026-06-09
   days on market $177,500 Active 82 DOM
5. 2026-06-08
   days on market $177,500 Active 81 DOM
6. 2026-06-07
   days on market $177,500 Active 80 DOM
7. 2026-06-04
   days on market $177,500 Active 77 DOM
8. 2026-06-03
   days on market $177,500 Active 76 DOM
9. 2026-06-02
   days on market $177,500 Active 75 DOM
10. 2026-06-01
    days on market $177,500 Active 74 DOM
11. 2026-05-31
    days on market $177,500 Active 73 DOM
12. 2026-04-29
    price $177,500 207-char remark

    Show marketing remark (207 chars)

    4 bedroom, 2.5 bath two story on quiet dead end street in Jonesboro. 1980 sq.ft. plus double garage. Large family room with fireplace. This is a cash or rehab loan only. Sold as-is with no seller disclosure.

13. 2026-03-19
    listed $192,400 New 207-char remark

    Show marketing remark (207 chars)

    4 bedroom, 2.5 bath two story on quiet dead end street in Jonesboro. 1980 sq.ft. plus double garage. Large family room with fireplace. This is a cash or rehab loan only. Sold as-is with no seller disclosure.

14. 2021-11-30
    historical
15. 2021-11-30
    listed $138,000
16. 2021-11-30
    historical

ⓘ 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: $2,736 · $228/mo
• Projected year-2 tax: $2,736 · $228/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 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,959
• − Mortgage interest: −$9,943
• − Property taxes: −$2,736
• − Insurance: −$888
• − Repairs & maintenance: −$1,837
• − Management: −$1,837
• − Depreciation: −$5,164
• Taxable income: $556
• Est. tax owed @ 24.0%: −$133
• After-tax cash flow: $3,211/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: Clayton County
• NCES district ID: 1301230
• Math proficiency: 11% ▼ -13.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $42,266
• Composite: 13.41/100
• National rank: #9527
• State rank: #155 of 174 in GA

Livability — Jonesboro

• Score: 72/100
• State rank: #63
• US rank: #6030

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clayton County · 230,153 people
• City population: 93,280
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 43,191
• Household income: $62,185
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1992.0

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 310,777 people
• By 2030: 329,762 · +6.1%
• By 2040: 368,052 · +18.4%
• By 2050: 401,196 · +29.1%
• By 2075: 472,488 · +52.0%
• By 2100: 500,446 · +61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (71%)
• Race & ethnicity: Black 71% Hispanic / Latino 17% White 7% Two or more races 7%
• Hispanic origin (detail): Mexican 13% Puerto Rican 2%
• Foreign-born: 11% · Canada, United Kingdom
• Languages at home: 83% English-only · Spanish 14% French/Haitian/Cajun 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid D (+69.2) · D 84.3% · R 15.1%
• 2008→2024 swing: +2.8pp toward D · 2008: 66.4pp · 2024: 69.2pp
• All cycles: 2024: D+69.2 2020: D+70.9 2016: D+71.9 2012: D+70.1 2008: D+66.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.48%
• Current HPI: 211.6309
• Rent YoY: ▲ 2.06%
• 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

+28.6% since first listed

5 events — show timeline

• 2026-04-29 Price Changed $177,500 GAMLS
• 2026-03-19 Listed $192,400 GAMLS
• 2021-11-30 Listing Removed — GAMLS
• 2021-11-30 Listed $138,000 GAMLS
• 2021-11-30 Listing Removed — GAMLS

Property tax history

+3.8%/yr

Latest (2025): $2,736 · -1.8% YoY. Source: county tax records.