156 Glen Acres Ct · Belvedere Park, GA 30035

$139,000

3 bd · 2.5 ba · 1,518 sqft · Condo public records · 135 Days on market

Built 1972 $92/sqft · 34% below area Est $209k · 34% under $255/mo HOA · 14% 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 +18.4/30.0
• ARV discount +15.0/15.0
• 1% rule +7.8/10.0
• DSCR +5.8/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully updated 3-bedroom, 2-bath townhome in sought-after Decatur. This bright, open-concept home features stylish LVP flooring, a modern kitchen with stainless steel appliances and ample counter space, and a private outdoor patio perfect for relaxing or entertaining. With fresh interior and exterior paint and newly cleaned carpets, this home is truly move-in ready—ideal for both homeowners and investors. Conveniently located near shopping, dining, and entertainment, it offers comfort, style, and strong value in a prime location. Don’t miss this opportunity—schedule your showing today!

Key facts

• $255 HOA
• 2 parking spots
• Built 1972

Tags

• OPEN-CONCEPT LIVING AREA
• STAINLESS STEEL APPLIANCES
• PRIVATE OUTDOOR PATIO AREA
• NEWLY CLEANED CARPETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $139k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.8% in Belvedere Park — 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 68/100 on livability (#153 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• 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 flat; 180 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 32% of the median local income ($67k/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 $961 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.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 9y 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 $44k; list at $139k implies a 216% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.28% ✓
• Cap rate: 7.42%
• Cash-on-cash: 4.03%
• DSCR: 1.18
• GRM: 6.5

CMA / ARV

• ARV (median comp): $209,230
• List price: $139,000
• Delta: -33.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.87% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.54×
• Total profit: $-17,714
• Equity at exit: $20,725

10-year hold

• IRR: -8.7%
• Equity multiple: 0.53×
• Total profit: $-18,484
• Equity at exit: $12,018

Cash invested: $38,920 (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 30035

• Home prices YoY: -33.8%
• Rents YoY: 0.9%
• Active inventory: 180
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,777 high
• Mortgage (P&I): −$729
• Tax from tax record: −$231 /mo · $2,776/yr
• Insurance: −$58
• HOA: −$255
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $131

Break-even live

Break-even rent $1,612

Max offer price $139,000

Occupancy floor 88%

Sensitivity live

Price	-10% $209	-5% $170	+0% $131	+5% $91	+10% $52
Rent	-10% $-10	-5% $60	+0% $131	+5% $201	+10% $271
Rate	-1.0pp $201	-0.5pp $166	base $131	+0.5pp $95	+1.0pp $58

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4655 Glenwood Rd Decatur, GA	2.0–3.0	2.0	1318	$1,600	$1.21	20d	31	0.11mi
1905 Bodwin Pl Unit 1905 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	44d	1	0.18mi
1998 Arthurs Court Dr Unit 1998 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	44d	1	0.21mi
1998 Arthurs Court Dr Decatur, GA	3.0	2.0	1493	$1,600	$1.07	44d	1	0.21mi
1908 Bodwin Pl Unit 1908F Decatur, GA	2.0	2.0	1144	$1,400	$1.22	44d	1	0.21mi
2002 Arthurs Court Dr Unit 2002D Decatur, GA	2.0	2.0	1144	$1,400	$1.22	44d	1	0.23mi
1910 Bodwin Pl Unit 1910C Decatur, GA	2.0	2.0	1298	$1,450	$1.12	44d	1	0.24mi
2165 Bodwin Pl Unit 2165E Decatur, GA	2.0	2.0	1144	$1,400	$1.22	44d	1	0.25mi
2163 Bodwin Pl Unit 2163D Decatur, GA	2.0	2.0	1144	$1,400	$1.22	44d	1	0.25mi
2011 Bodwin Pl Unit 2011 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	44d	1	0.25mi
2007 Bodwin Pl Unit 2007 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	44d	1	0.25mi
1914 Bodwin Pl Unit 1914A Decatur, GA	2.0	2.0	1298	$1,450	$1.12	44d	1	0.25mi
3019 Arthurs Ct Unit 3019 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	44d	1	0.30mi
3017 Arthurs Ct Unit 3017 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	44d	1	0.30mi
3025 Arthurs Ct Unit 3025 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	44d	1	0.30mi
3021 Arthurs Ct Unit 3021 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	44d	1	0.30mi
3015 Arthurs Ct Unit 3015 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	44d	1	0.30mi
3023 Arthurs Ct Unit 3023 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	44d	1	0.30mi
3010 Bedevere Cir Unit 3010A Decatur, GA	2.0	2.0	1144	$1,400	$1.22	44d	1	0.36mi
3000 Bedevere Cir Unit 3000F Decatur, GA	2.0	2.0	1144	$1,400	$1.22	44d	1	0.36mi
3014 Bedevere Cir Unit 3014D Decatur, GA	2.0	2.0	1144	$1,400	$1.22	44d	1	0.37mi
1985 Glenwood Downs Dr Decatur, GA	3.0	2.5	1460	$1,700	$1.16	21d	1	0.40mi
2161 Bedevere Cir Unit 2161A Decatur, GA	2.0	2.0	1144	$1,400	$1.22	44d	1	0.42mi
1995 Glenwood Downs Dr Decatur, GA	3.0	2.0	1564	$1,750	$1.12	5d	1	0.43mi
1590 Agape Way Decatur, GA	1.0–3.0	1.0–2.0	1022	$1,400	$1.37	44d	1	0.46mi
200 High Court Pl Decatur, GA	1.0–3.0	1.0–2.0	1130	$1,705	$1.51	2d	12	0.46mi
3854 Austin Park Ln Decatur, GA	3.0	2.5	1464	$1,800	$1.23	44d	1	0.48mi
3141 Journal Ct Decatur, GA	3.0	2.5	1386	$1,895	$1.37	13d	1	0.52mi
3711 Daisy Dr Decatur, GA	3.0	1.5	1240	$1,700	$1.37	44d	1	0.52mi
4565 Covington Hwy Decatur, GA	2.0–3.0	1.5	1200	$1,439	$1.20	4d	8	0.56mi
3692 Larkspur Ter Decatur, GA	3.0	2.0	1100	$1,700	$1.55	44d	1	0.56mi
3184 Delancy St Decatur, GA	3.0	2.5	1515	$1,800	$1.19	44d	1	0.61mi
1683 Vernon Blvd Decatur, GA	3.0	2.5	1515	$1,840	$1.21	19d	1	0.62mi
4371 Glenwood Rd Decatur, GA	1.0–3.0	1.0–2.0	1100	$1,525	$1.39	2d	9	0.69mi
4371 Glenwood Rd Decatur, GA	1.0–3.0	1.0–2.0	1100	$1,525	$1.39	44d	6	0.69mi
2109 Newgate Dr Decatur, GA	3.0	2.5	1701	$1,850	$1.09	44d	1	0.71mi
3121 Journal Ct Decatur, GA	3.0	2.5	1386	$1,895	$1.37	20d	1	0.75mi
3106 Calcutta St Decatur, GA	3.0	2.5	1386	$1,895	$1.37	44d	1	0.76mi
3096 Calcutta St Decatur, GA	3.0	2.5	1386	$1,895	$1.37	44d	1	0.76mi
1502 Vernon Blvd Decatur, GA	3.0	3.0	1515	$2,050	$1.35	24d	1	0.77mi

HOA detail condo

• Monthly dues: $255 · $3,060/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   days on market $139,000 Active 135 DOM
3. 2026-06-17
   days on market $139,000 Active 134 DOM
4. 2026-06-16
   days on market $139,000 Active 133 DOM
5. 2026-06-15
   days on market $139,000 Active 132 DOM
6. 2026-06-13
   days on market $139,000 Active 130 DOM
7. 2026-06-09
   days on market $139,000 Active 126 DOM
8. 2026-06-08
   days on market $139,000 Active 125 DOM
9. 2026-06-07
   days on market $139,000 Active 124 DOM
10. 2026-06-04
    days on market $139,000 Active 121 DOM
11. 2026-06-03
    days on market $139,000 Active 120 DOM
12. 2026-06-02
    days on market $139,000 Active 119 DOM
13. 2026-06-01
    days on market $139,000 Active 118 DOM
14. 2026-05-31
    days on market $139,000 Active 117 DOM
15. 2026-05-04
    status Active 631-char remark

    Show marketing remark (631 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bath townhome in sought-after Decatur. This bright, open-concept home features stylish LVP flooring, a modern kitchen with stainless steel appliances and ample counter space, and a private outdoor patio perfect for relaxing or entertaining. With fresh interior and exterior paint and newly cleaned carpets, this home is truly move-in ready—ideal for both homeowners and investors. Conveniently located near shopping, dining, and entertainment, it offers comfort, style, and strong value in a prime location. Don’t miss this opportunity—schedule your showing today!

16. 2026-04-27
    historical Active Under Contract 631-char remark

    Show marketing remark (631 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bath townhome in sought-after Decatur. This bright, open-concept home features stylish LVP flooring, a modern kitchen with stainless steel appliances and ample counter space, and a private outdoor patio perfect for relaxing or entertaining. With fresh interior and exterior paint and newly cleaned carpets, this home is truly move-in ready—ideal for both homeowners and investors. Conveniently located near shopping, dining, and entertainment, it offers comfort, style, and strong value in a prime location. Don’t miss this opportunity—schedule your showing today!

17. 2026-02-03
    listed $139,000 Active 631-char remark

    Show marketing remark (631 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bath townhome in sought-after Decatur. This bright, open-concept home features stylish LVP flooring, a modern kitchen with stainless steel appliances and ample counter space, and a private outdoor patio perfect for relaxing or entertaining. With fresh interior and exterior paint and newly cleaned carpets, this home is truly move-in ready—ideal for both homeowners and investors. Conveniently located near shopping, dining, and entertainment, it offers comfort, style, and strong value in a prime location. Don’t miss this opportunity—schedule your showing today!

18. 2024-07-31
    historical
19. 2024-06-30
    status Active
20. 2024-05-01
    status Active
21. 2024-03-18
    listed $150,000 Active
22. 2017-03-01
    soldstatus $44,000
23. 2017-02-28
    soldstatus $44,000 Sold
24. 2017-02-28
    soldstatus $44,000 Sold
25. 2017-02-18
    historical Pending
26. 2017-02-09
    status Active
27. 2017-02-06
    historical Pending
28. 2017-02-06
    status Under Contract
29. 2017-01-25
    listed $47,995 Active
30. 2017-01-25
    listed $47,995 New
31. 2010-08-28
    price $11,200 Back On Market
32. 2010-07-31
    price $21,000 Reduced
33. 2010-05-22
    price $24,000 Reduced
34. 2010-04-24
    price $27,000 Reduced
35. 2004-11-10
    soldstatus $87,100
36. 2000-09-28
    soldstatus $76,000
37. 1987-08-25
    soldstatus $50,000
38. 1981-07-02
    soldstatus $50,100
39. 1980-09-15
    soldstatus $42,700

ⓘ 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: $2,776 · $231/mo
• Projected year-2 tax: $2,776 · $231/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 7 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,324
• − Mortgage interest: −$7,786
• − Property taxes: −$2,776
• − Insurance: −$695
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − HOA: −$3,060
• − Depreciation: −$4,044
• Taxable loss: −$449
• Est. tax savings @ 24.0%: +$108
• After-tax cash flow: $1,675/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 — Belvedere Park

• Score: 68/100
• State rank: #153
• US rank: #9886

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dekalb County · 782,738 people
• City population: 42,812
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 21,569
• Household income: $66,799
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1304.0

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 (91%)
• Race & ethnicity: Black 91% White 4% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1% Swiss 0%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 4% French/Haitian/Cajun 2%

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: ▼ -111.60%
• Current HPI: 218.8323
• Rent YoY: ▲ 0.87%
• 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

+225.5% since first listed

25 events — show timeline

• 2026-05-04 Relisted — FMLS
• 2026-04-27 Contingent — FMLS
• 2026-02-03 Listed $139,000 FMLS
• 2024-07-31 Listing Removed — FMLS
• 2024-06-30 Relisted — FMLS
• 2024-05-01 Relisted — FMLS
• 2024-03-18 Listed $150,000 FMLS
• 2017-03-01 Sold (Public Records) $44,000 Public Records
• 2017-02-28 Sold (MLS) $44,000 GAMLS
• 2017-02-28 Sold (MLS) $44,000 FMLS
• 2017-02-18 Contingent — FMLS
• 2017-02-09 Relisted — FMLS
• 2017-02-06 Contingent — FMLS
• 2017-02-06 Pending — GAMLS
• 2017-01-25 Listed $47,995 FMLS
• 2017-01-25 Listed $47,995 GAMLS
• 2010-08-28 Price Changed $11,200 GAMLS
• 2010-07-31 Price Changed $21,000 GAMLS
• 2010-05-22 Price Changed $24,000 GAMLS
• 2010-04-24 Price Changed $27,000 GAMLS
• 2004-11-10 Sold (Public Records) $87,100 Public Records
• 2000-09-28 Sold (Public Records) $76,000 Public Records
• 1987-08-25 Sold (Public Records) $50,000 Public Records
• 1981-07-02 Sold (Public Records) $50,100 Public Records
• 1980-09-15 Sold (Public Records) $42,700 Public Records

Property tax history

+7.0%/yr

Latest (2025): $2,776 · -15.6% YoY. Source: county tax records.