1055 Lancashire Circle, Stone Mountain, GA 30083
Lancashire Court LTD (Phase II) · Dekalb County
Key Facts
Description
The site is approved for 48 grandfathered multifamily units, exceeding current density codes, and is positioned for ground-up development targeting LIHTC programs. By-right entitlement provides immediate development capability while avoiding lengthy rezonings and significant associated costs. Situated within a Qualified Opportunity Zone (QOZ), the property provides potential for substantial tax advantages, including capital gains deferral and a 10-year step-up to fair market value, with the OZ window open through December 31, 2028. At a competitive basis of $18,646 per door, the site pricing remains well below replacement costs and recent land transactions in the area. The property benefits from strong demand drivers: proximity to I-285 and downtown Decatur employment hubs, integration into DeKalb’s affordable housing corridor, and complementarity to recent large-scale LIHTC developments delivering within five miles. As institutional absorption continues in the submarket, this parcel is ideally suited for developers seeking scalable investment in an area familiar to DCA underwriters with a demonstrated record of program success.
Property Information
Property Type
Land
Sub-Type
Multi Family
Year Built
1981
Lot Size
3.13 acres
Lot Dimensions
x
Zoning
X
Days on Market
14
MLS® Listing#
7799189
Property Features
Fencing
Lot Features
Other Structures
Community
Utilities
Schools
- Elementary:
- Stone Mill
- Middle:
- Stone Mountain
- High:
- Stone Mountain
Financial Details
HOA
None
Annual Taxes
$1,383
Tax year 2025
Directions
I-285 to Exit 41 (Memorial Dr East). East approx. 3.5 miles to Central Drive; turn right, then right on Lancashire Circle. Site on SE side. GPS-friendly address.
Affordability Calculator
$180,000
Estimated monthly payment
$4,790/mo
Principal $720,000 · Est. interest $1,004,464 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Stone Mountain, GA
- $310,023
- Median Listing Price
- 59
- Median Days on Market
- 1,920
- Median Sq Ft
- $152
- Median Price / Sq Ft
- 775
- Active Listings
- This home’s price is 190% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Stone Mountain, GA.
Location
Points of Interest in Stone Mountain, GA
Showing the Stone Mountain area map.
Nearby Schools
A Brighter Day Early Learning Academy
School · 0.3 mi away
Stone Mill Elementary School
Elementary · 0.5 mi away
Stone Mountain High School
Secondary · 0.8 mi away
Dekalb County School System
School · 0.9 mi away
Dekalb Alternative School
Secondary · 0.9 mi away
The Champion School
Secondary · 0.9 mi away
East Dekalb Special Education Center
School · 0.9 mi away
East Dekalb Campus
School · 0.9 mi away
Hambrick Elementary School
Elementary · 0.9 mi away
Stone Mountain Elementary School
Elementary · 1.2 mi away
Dekalb Academy
Elementary · 1.3 mi away
Rockbridge Elementary School
Elementary · 1.5 mi away
Elizabeth Andrews High School
Secondary · 1.7 mi away
Dekalb County School District
School · 1.7 mi away
St Timothy School
Elementary · 1.8 mi away
Freedom Middle School
Secondary · 1.9 mi away
Jolly Elementary School
Elementary · 2.1 mi away
Stone Mountain Middle School
Secondary · 2.2 mi away
Appletree Learning Center & Academy
School · 2.2 mi away
Solid Foundation
School · 2.3 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 335 N Main AVE, Pine Mountain, GA | $630,000 | — | — | 5,610 |
| 5935 Hammersmith Road, Stone Mountain, GA | $635,000 | 4 | 4 | 5,152 |
| 5712 Redan RD, Stone Mountain, GA | $649,000 | — | — | 2,900 |
| 1025 Rays Road, Stone Mountain, GA | $649,000 | 6 | 5 | 5,202 |
| 5712 Redan Road, Stone Mountain, GA | $649,000 | — | — | 2,900 |
| 1025 Rays RD, Stone Mountain, GA | $649,000 | 6 | — | 5,202 |
Moving Cost Estimate
EXIT Agents in Stone Mountain
Listing Courtesy: T. Dallas Smith & Company, LLC - 404-525-8212
Last Updated: 2026-06-19