5303 Par Four Way · Stonecrest, GA 30038

$130,000

3 bd · 2.0 ba · 1,202 sqft · Condo public records · 102 Days on market

Built 2003 $108/sqft · 18% above area Est $116k · 12% over $200/mo HOA · 13% of rent

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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 +23.1/30.0
• DSCR +7.4/10.0
• 1% rule +7.3/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this meticulously maintained 3-bedroom, 2-bathroom condo in Fairington Park! Nestled in a secluded area just off Fairington Rd, you will enjoy and appreciate the sense of privacy and quietness this community offers. The condo is owned by the original purchaser and features distinct upgrades throughout the entire home. Including a built-in electric fireplace, LVP throughout, a shoe/storage shelf, soft-close hinges, and handles on the kitchen and bathroom cabinetry, and much more! Agents, please be sure to check out the attached PDF of improvements in the docs for GAMLS & FMLS. This condo is truly move-in ready at an affordable price. Don't miss the opportunity to call this private oasis home. Book a showing appointment today!

Key facts

• Move-in ready
• Secluded area
• Sense of privacy

Tags

• BUILT-IN ELECTRICAL FIREPLACE
• SHOE STORAGE SHELF
• MOVE-IN READY
• SECLUDED AREA
• SENSE OF PRIVACY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 C — 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 rising fast (+4.6%/yr); 320 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); 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 $899 of loan paydown is wiped out by about $4k 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 + 4.6% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($118k) 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,300 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.23% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.69%
• DSCR: 1.34
• GRM: 6.8

CMA / ARV

• ARV (median comp): $116,326
• List price: $130,000
• Delta: 11.75%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.6% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.90×
• Total profit: $-3,495
• Equity at exit: $19,383

10-year hold

• IRR: 9.1%
• Equity multiple: 1.76×
• Total profit: $27,555
• Equity at exit: $11,240

Cash invested: $36,400 (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 30038

• Home prices YoY: -28.0%
• Rents YoY: 4.6%
• Active inventory: 320
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,593 high
• Mortgage (P&I): −$682
• Tax from tax record: −$89 /mo · $1,069/yr
• Insurance: −$54
• HOA: −$200
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $233

Break-even live

Break-even rent $1,297

Max offer price $130,000

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2102 Par Three Way Lithonia, GA	3.0	2.0	1202	$1,500	$1.25	5d	1	0.11mi
1202 Par Three Way Lithonia, GA	2.0	2.0	1202	$1,200	$1.00	18d	1	0.13mi
5812 Trent Walk Dr Unit 1 Stonecrest, GA	3.0	2.0	1350	$1,600	$1.19	43d	1	0.13mi
5796 Trent Walk Dr Lithonia, GA	3.0	2.0	1350	$1,570	$1.16	4d	1	0.15mi
5926 Trent Jones Way Lithonia, GA	2.0	2.5	1122	$1,200	$1.07	17d	1	0.17mi
4103 Fairington Club Dr Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	43d	1	0.22mi
4101 Fairington Club Dr Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	43d	1	0.23mi
5876 Trent Walk Dr Lithonia, GA	2.0	1.5	1084	$1,550	$1.43	4d	1	0.28mi
3021 Fields Dr Lithonia, GA	3.0	2.5	1450	$1,595	$1.10	24d	1	0.37mi
3064 Parc Lorraine Unit 1 Stonecrest, GA	2.0	2.0	1280	$1,195	$0.93	3d	1	0.38mi
13101 Fairington Ridge Cir Unit 101 Stonecrest, GA	3.0	2.0	1292	$1,400	$1.08	24d	1	0.39mi
13202 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,650	$1.28	16d	1	0.39mi
14302 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,650	$1.28	43d	1	0.42mi
2102 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,545	$1.20	10d	1	0.42mi
14204 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,550	$1.20	43d	1	0.43mi
5201 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1226	$1,645	$1.34	43d	1	0.44mi
2932 Parc Lorraine Lithonia, GA	2.0	2.0	1280	$1,399	$1.09	24d	1	0.44mi
5104 Fairington Ridge Cir Unit 5104 Stonecrest, GA	3.0	2.0	1292	$1,400	$1.08	24d	1	0.44mi
2940 Parc Lorraine Unit 1 Stonecrest, GA	2.0	2.0	1072	$1,195	$1.11	43d	1	0.45mi
2204 Fairington Village Dr Lithonia, GA	3.0	2.0	1292	$1,295	$1.00	20d	1	0.45mi
2204 Fairington Village Dr Lithonia, GA	3.0	2.0	1292	$1,295	$1.00	24d	1	0.45mi
7104 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1292	$1,300	$1.01	2d	1	0.46mi
8202 Fairington Ridge Cir Lithonia, GA	3.0	2.0	1300	$1,900	$1.46	43d	1	0.46mi
6301 Fairington Village Dr Stonecrest, GA	3.0	2.0	1300	$1,900	$1.46	5d	1	0.48mi
89 Tiburon Ct Lithonia, GA	2.0	1.5	1250	$1,450	$1.16	12d	1	0.51mi
2898 Norfair Loop Lithonia, GA	2.0	1.5	1240	$1,506	$1.21	5d	1	0.51mi
3127 Fields Dr Lithonia, GA	2.0	2.5	1206	$1,800	$1.49	18d	1	0.58mi
5052 Chupp Way Cir Lithonia, GA	2.0	2.5	1150	$1,580	$1.37	43d	1	0.63mi
5044 Chupp Way Cir Lithonia, GA	3.0	2.5	1212	$1,395	$1.15	21d	1	0.64mi
5654 Bradley Cir Lithonia, GA	2.0	1.0	1428	$1,673	$1.17	5d	1	0.70mi
100 Walden Brook Dr Stonecrest, GA	1.0–3.0	1.0–2.0	1132	$1,607	$1.42	1d	15	0.75mi
5588 Fairington Pl Lithonia, GA	2.0	1.0	1260	$1,295	$1.03	43d	1	0.75mi
5850 Hillandale Dr Lithonia, GA	1.0–3.0	1.0–2.0	1119	$1,754	$1.57	1d	11	0.81mi
421 Meadowood Dr Stonecrest, GA	2.0–3.0	1.5–2.0	1328	$1,499	$1.13	24d	18	0.83mi
46 Le Parc Fontaine Lithonia, GA	2.0	2.0	1376	$1,350	$0.98	43d	1	0.99mi
6012 Regent Mnr Lithonia, GA	2.0	2.0	1200	$1,450	$1.21	43d	1	1.04mi
129 Rue Fontaine Lithonia, GA	2.0	2.0	1376	$1,450	$1.05	21d	1	1.07mi
6250 Hillandale Dr Lithonia, GA	1.0–4.0	1.0–2.0	1121	$1,600	$1.43	43d	1	1.09mi
6256 Hillandale Dr Lithonia, GA	1.0–3.0	1.0–2.0	990	$1,599	$1.62	43d	1	1.23mi
5301 W Fairington Pkwy Lithonia, GA	1.0–3.0	1.0–2.0	1020	$1,946	$1.91	1d	37	1.29mi

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $130,000 Active 102 DOM
2. 2026-06-17
   days on market $130,000 Active 101 DOM
3. 2026-06-16
   days on market $130,000 Active 100 DOM
4. 2026-06-15
   days on market $130,000 Active 99 DOM
5. 2026-06-13
   days on market $130,000 Active 97 DOM
6. 2026-06-09
   days on market $130,000 Active 93 DOM
7. 2026-06-08
   days on market $130,000 Active 92 DOM
8. 2026-06-07
   days on market $130,000 Active 91 DOM
9. 2026-06-04
   days on market $130,000 Active 88 DOM
10. 2026-06-03
    days on market $130,000 Active 87 DOM
11. 2026-06-02
    days on market $130,000 Active 86 DOM
12. 2026-06-01
    days on market $130,000 Active 85 DOM
13. 2026-05-31
    days on market $130,000 Active 84 DOM
14. 2026-03-06
    listed $130,000 New 749-char remark

    Show marketing remark (755 chars)

    Welcome to this meticulously maintained 3-bedroom, 2-bathroom condo in Fairington Park! Nestled in a secluded area just off Fairington Rd, you will enjoy and appreciate the sense of privacy and quietness this community offers. The condo is owned by the original purchaser and features distinct upgrades throughout the entire home. Including a built-in electric fireplace, LVP throughout, a shoe/storage shelf, soft-close hinges, and handles on the kitchen and bathroom cabinetry, and much more! Agents, please be sure to check out the attached PDF of improvements in the docs for GAMLS & FMLS. This condo is truly move-in ready at an affordable price. Don’t miss the opportunity to call this private oasis home. Book a showing appointment today!

15. 2026-03-06
    listed $130,000 Active 755-char remark

    Show marketing remark (755 chars)

    Welcome to this meticulously maintained 3-bedroom, 2-bathroom condo in Fairington Park! Nestled in a secluded area just off Fairington Rd, you will enjoy and appreciate the sense of privacy and quietness this community offers. The condo is owned by the original purchaser and features distinct upgrades throughout the entire home. Including a built-in electric fireplace, LVP throughout, a shoe/storage shelf, soft-close hinges, and handles on the kitchen and bathroom cabinetry, and much more! Agents, please be sure to check out the attached PDF of improvements in the docs for GAMLS & FMLS. This condo is truly move-in ready at an affordable price. Don’t miss the opportunity to call this private oasis home. Book a showing appointment today!

ⓘ 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: $1,069 · $89/mo
• Projected year-2 tax: $1,196 · $100/mo
• Expected delta: +$127/yr (+$11/mo · 11.9%)

ⓘ 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 4/10 Moderate 22% 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: $19,114
• − Mortgage interest: −$7,282
• − Property taxes: −$1,069
• − Insurance: −$650
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − HOA: −$2,400
• − Depreciation: −$3,782
• Taxable income: $873
• Est. tax owed @ 24.0%: −$210
• After-tax cash flow: $2,591/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

• Census place: Stonecrest, GA
• County: Dekalb County · 782,738 people
• City population: 106,165
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 43,776
• Household income: $73,694
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1168.0

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 (84%)
• Race & ethnicity: Black 84% Two or more races 10% Hispanic / Latino 5% White 4% Asian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 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: ▼ -74.98%
• Current HPI: 192.8328
• Rent YoY: ▲ 4.60%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-06 Listed $130,000 FMLS
• 2026-03-06 Listed $130,000 GAMLS

Property tax history

+4.8%/yr

Latest (2025): $1,069 · -8.8% YoY. Source: county tax records.