1564 Columbia Dr · Belvedere Park, GA 30032

$136,000

3 bd · 1.0 ba · 1,104 sqft · SingleFamily public records · 96 Days on market

Built 1949 0.39 ac lot $123/sqft · 43% below area Est $237k · 43% under

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Why this score? — see what drove the B- 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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +7.5/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent investment opportunity with strong rental potential. This 3-bedroom, 2-bath property offers a functional layout, updated kitchen, and low-maintenance features ideal for long-term tenants. Located in a high-demand rental area near shopping, schools, and major commuter routes. Spacious backyard and solid structure provide additional value-add potential. Great option for buy-and-hold investors, portfolio expansion, or first-time investors seeking steady cash flow.

Key facts

• 0.39 acre lot
• Built 1949
• Listed 96 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $136k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $136k).
• Recommended offer: $124k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.7% 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: amenities F, commute F, health & safety 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.
• Zoned schools: Peachcrest Elementary School (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 677 students, 100% FRL); The Champion Middle Theme School (math 21% / reading 52%, grade F, #167 of 470 statewide, top 38%, 751 students, 100% FRL); Towers High School (math 2% / reading 12%, grade F, #385 of 424 statewide, top 92%, 764 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.3%/yr); 431 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/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 $940 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 96 days — a 9% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,760 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
7. 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.
8. 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.
9. 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: 1.25% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.99%
• DSCR: 1.40
• GRM: 6.7

CMA / ARV

• ARV (median comp): $237,002
• List price: $136,000
• Delta: -42.62%
• 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
1737 Mckenzie Dr	0.22mi	3/1.0	1,125 (+2%)	2mo	$204,000	$181	85
1766 Mckenzie Dr	0.24mi	3/1.0	1,125 (+2%)	4mo	$172,000	$153	83
1546 Alverado Way	0.33mi	3/2.0	1,157 (+5%)	2mo	$290,000	$251	71
3012 Monterey Dr	0.53mi	3/2.0	1,092 (-1%)	3mo	$275,000	$252	67
3340 Pinehill Dr	0.47mi	3/1.5	1,058 (-4%)	3mo	$168,500	$159	67
3094 Santa Monica Dr	0.28mi	3/1.5	1,213 (+10%)	3mo	$185,000	$153	66
2996 Laguna Dr	0.62mi	3/2.0	1,140 (+3%)	1mo	$290,000	$254	60
3449 Misty Valley Rd	0.61mi	3/1.5	1,059 (-4%)	3mo	$168,000	$159	60
1903 Wildwood Dr	0.74mi	3/2.0	1,107 (+0%)	3mo	$350,000	$316	59
3406 Jackson Dr	0.61mi	3/1.0	1,018 (-8%)	4mo	$240,000	$236	55
3723 Glenwood Rd	0.59mi	2/1.0 (-1)	1,024 (-7%)	1mo	$175,000	$171	55
1616 Cobbs Creek Ln	0.58mi	2/2.0 (-1)	1,236 (+12%)	4mo	$183,000	$148	41

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: -4.7%
• Equity multiple: 0.83×
• Total profit: $-6,567
• Equity at exit: $20,278

10-year hold

• IRR: 2.8%
• Equity multiple: 1.18×
• Total profit: $6,997
• Equity at exit: $11,759

Cash invested: $38,080 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,696 high
• Mortgage (P&I): −$713
• Tax from tax record: −$285 /mo · $3,418/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $285

Break-even live

Break-even rent $1,335

Max offer price $136,000

Occupancy floor 78%

Sensitivity live

Price	-10% $362	-5% $324	+0% $285	+5% $247	+10% $208
Rent	-10% $151	-5% $218	+0% $285	+5% $352	+10% $419
Rate	-1.0pp $354	-0.5pp $320	base $285	+0.5pp $250	+1.0pp $214

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: $34,000
• Closing costs: $4,080
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1752 Lynn Ln Decatur, GA	3.0	2.0	1390	$1,950	$1.40	45d	1	0.25mi
3191 Bluebird Ln Decatur, GA	4.0	2.0	1300	$7,250	$5.58	25d	1	0.35mi
3365 Columbia Trce Decatur, GA	3.0	2.0	1252	$1,450	$1.16	6d	1	0.39mi
3381 Columbia Trce Decatur, GA	3.0	2.0	1252	$1,450	$1.16	6d	1	0.42mi
3395 Columbia Trce Decatur, GA	3.0	2.0	1252	$1,450	$1.16	25d	1	0.45mi
3010 Santa Monica Dr Decatur, GA	4.0	2.0	1392	$2,095	$1.51	45d	1	0.46mi
3024 Pasadena Dr Decatur, GA	3.0	2.0	1079	$1,958	$1.81	0d	1	0.47mi
3405 Cobbs Ferry Dr Unit 3405 Decatur, GA	3.0	2.0	1331	$1,550	$1.16	45d	1	0.47mi
1855 Shamrock Dr Decatur, GA	3.0	2.0	1310	$1,771	$1.35	6d	1	0.50mi
1873 Shamrock Dr Decatur, GA	4.0	1.5	1492	$1,075	$0.72	6d	1	0.54mi
3432 Cobbs Ferry Dr Decatur, GA	3.0	2.0	1252	$1,450	$1.16	6d	1	0.57mi
1598 San Gabriel Ave Decatur, GA	3.0	2.0	1451	$2,023	$1.39	25d	1	0.58mi
3445 Cobbs Ferry Dr Decatur, GA	3.0	2.0	1252	$1,450	$1.16	25d	1	0.60mi
1693 San Gabriel Ave Decatur, GA	3.0	2.0	1265	$1,995	$1.58	5d	1	0.61mi
1689 San Gabriel Ave Decatur, GA	3.0	1.0	989	$1,450	$1.47	45d	1	0.62mi
3485 Cobbs Ferry Dr Decatur, GA	3.0	2.0	1252	$1,450	$1.16	25d	1	0.63mi
3427 Jackson Dr Decatur, GA	3.0	2.0	1400	$1,900	$1.36	20d	1	0.65mi
4100 Glenwood Rd Decatur, GA	1.0–2.0	1.0–1.5	925	$1,450	$1.57	6d	17	0.67mi
1428 David Cir Unit A11 Decatur, GA	3.0	1.5	1362	$1,830	$1.34	45d	1	0.69mi
1387 Midview Dr Decatur, GA	3.0	1.0	1026	$1,750	$1.71	45d	1	0.70mi
1932 Rosewood Rd Decatur, GA	4.0	2.5	1215	$1,485	$1.22	14d	1	0.71mi
1932 Rosewood Rd Decatur, GA	4.0	2.5	1294	$1,120	$0.87	25d	1	0.71mi
1368 Alverado Way Decatur, GA	2.0	1.0	1088	$1,523	$1.40	45d	1	0.72mi
1953 Laurel Ln Decatur, GA	3.0	1.0	1202	$945	$0.79	22d	1	0.73mi
3405 Elgin Dr Decatur, GA	3.0	2.0	1198	$1,700	$1.42	45d	1	0.74mi
3503 Misty Valley Rd Decatur, GA	3.0	1.5	984	$1,495	$1.52	25d	1	0.74mi
2939 Belvedere Ln Decatur, GA	3.0	1.5	1500	$1,595	$1.06	14d	1	0.74mi
2939 Belvedere Ln Decatur, GA	3.0	1.5	1500	$1,595	$1.06	11d	1	0.74mi
1966 Glendale Dr Decatur, GA	3.0	2.0	1211	$800	$0.66	0d	1	0.79mi
2873 White Oak Dr Decatur, GA	2.0	1.5	816	$1,800	$2.21	45d	1	0.79mi
1972 Glendale Dr Decatur, GA	3.0	2.0	1211	$1,790	$1.48	45d	1	0.80mi
1978 Glendale Dr Decatur, GA	3.0	2.0	1425	$1,000	$0.70	25d	1	0.82mi
1978 Glendale Dr Decatur, GA	3.0	2.0	1211	$1,490	$1.23	14d	1	0.82mi
1978 Glendale Dr Decatur, GA	3.0	2.0	1211	$1,100	$0.91	5d	1	0.82mi
1978 Glendale Dr Decatur, GA	3.0	2.0	1211	$1,200	$0.99	19d	1	0.82mi
3229 McAfee Rd Decatur, GA	3.0	1.0	1300	$1,600	$1.23	45d	1	0.88mi
2015 Oak Park Ln Decatur, GA	3.0	2.5	871	$1,400	$1.61	25d	1	0.93mi
3529 Robins Landing Way Decatur, GA	1.0–4.0	1.0–2.0	1042	$1,443	$1.38	0d	36	0.94mi
3529 Robins Landing Way Decatur, GA	1.0–3.0	1.0–2.0	982	$1,677	$1.71	45d	26	0.94mi
3235 Beech Dr Decatur, GA	3.0	2.0	1264	$2,400	$1.90	45d	1	0.95mi

Listing history 32 events

1. 2026-06-21
   days on market $136,000 Active 96 DOM
2. 2026-06-18
   days on market $136,000 Active 93 DOM
3. 2026-06-17
   days on market $136,000 Active 92 DOM
4. 2026-06-16
   days on market $136,000 Active 91 DOM
5. 2026-06-15
   days on market $136,000 Active 90 DOM
6. 2026-06-13
   days on market $136,000 Active 88 DOM
7. 2026-06-10
   status $136,000 Active 84 DOM
8. 2026-06-07
   status $136,000 Pending 84 DOM
9. 2026-06-04
   days on market $136,000 Active 84 DOM
10. 2026-06-03
    days on market $136,000 Active 83 DOM
11. 2026-06-02
    days on market $136,000 Active 82 DOM
12. 2026-06-01
    days on market $136,000 Active 81 DOM
13. 2026-05-31
    days on market $136,000 Active 80 DOM
14. 2026-04-10
    price $139,000 475-char remark

    Show marketing remark (475 chars)

    Excellent investment opportunity with strong rental potential. This 3-bedroom, 2-bath property offers a functional layout, updated kitchen, and low-maintenance features ideal for long-term tenants. Located in a high-demand rental area near shopping, schools, and major commuter routes. Spacious backyard and solid structure provide additional value-add potential. Great option for buy-and-hold investors, portfolio expansion, or first-time investors seeking steady cash flow.

15. 2026-04-10
    price $139,000 475-char remark

    Show marketing remark (475 chars)

    Excellent investment opportunity with strong rental potential. This 3-bedroom, 2-bath property offers a functional layout, updated kitchen, and low-maintenance features ideal for long-term tenants. Located in a high-demand rental area near shopping, schools, and major commuter routes. Spacious backyard and solid structure provide additional value-add potential. Great option for buy-and-hold investors, portfolio expansion, or first-time investors seeking steady cash flow.

16. 2026-03-12
    listed $140,000 New 475-char remark

    Show marketing remark (475 chars)

    Excellent investment opportunity with strong rental potential. This 3-bedroom, 2-bath property offers a functional layout, updated kitchen, and low-maintenance features ideal for long-term tenants. Located in a high-demand rental area near shopping, schools, and major commuter routes. Spacious backyard and solid structure provide additional value-add potential. Great option for buy-and-hold investors, portfolio expansion, or first-time investors seeking steady cash flow.

17. 2026-03-12
    listed $140,000 Active 475-char remark

    Show marketing remark (475 chars)

    Excellent investment opportunity with strong rental potential. This 3-bedroom, 2-bath property offers a functional layout, updated kitchen, and low-maintenance features ideal for long-term tenants. Located in a high-demand rental area near shopping, schools, and major commuter routes. Spacious backyard and solid structure provide additional value-add potential. Great option for buy-and-hold investors, portfolio expansion, or first-time investors seeking steady cash flow.

18. 2025-10-24
    historical $1,665
19. 2025-10-19
    price $1,665
20. 2025-10-18
    listed $1,755
21. 2021-06-16
    soldstatus $19,567,768
22. 2012-12-25
    historical
23. 2012-08-22
    listed $25,000 New
24. 2009-01-20
    soldstatus $85,000
25. 2008-04-14
    soldstatus $32,000
26. 2008-02-08
    listed $34,500
27. 2006-10-05
    soldstatus $96,600
28. 2004-08-16
    soldstatus $134,000
29. 2004-04-28
    soldstatus $97,000
30. 2001-03-05
    soldstatus $73,000
31. 2001-03-05
    soldstatus $73,000
32. 1987-03-19
    soldstatus $49,000

ⓘ 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: $3,418 · $285/mo
• Projected year-2 tax: $3,418 · $285/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 · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $20,352
• − Mortgage interest: −$7,618
• − Property taxes: −$3,418
• − Insurance: −$680
• − Repairs & maintenance: −$1,628
• − Management: −$1,628
• − Depreciation: −$3,956
• Taxable income: $1,423
• Est. tax owed @ 24.0%: −$342
• After-tax cash flow: $3,080/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

• Census place: Belvedere Park, 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

+183.7% since first listed

19 events — show timeline

• 2026-04-10 Price Changed $139,000 FMLS
• 2026-04-10 Price Changed $139,000 GAMLS
• 2026-03-12 Listed $140,000 FMLS
• 2026-03-12 Listed $140,000 GAMLS
• 2025-10-24 Rental Removed $1,665 RENTLY
• 2025-10-19 Price Changed $1,665 RENTLY
• 2025-10-18 Listed for Rent $1,755 RENTLY
• 2021-06-16 Sold (Public Records) $19,567,768 Public Records
• 2012-12-25 Listing Removed — GAMLS
• 2012-08-22 Listed $25,000 GAMLS
• 2009-01-20 Sold (Public Records) $85,000 Public Records
• 2008-04-14 Sold (MLS) $32,000 FMLS
• 2008-02-08 Listed $34,500 FMLS
• 2006-10-05 Sold (Public Records) $96,600 Public Records
• 2004-08-16 Sold (Public Records) $134,000 Public Records
• 2004-04-28 Sold (Public Records) $97,000 Public Records
• 2001-03-05 Sold (Public Records) $73,000 Public Records
• 2001-03-05 Sold (Public Records) $73,000 Public Records
• 1987-03-19 Sold (Public Records) $49,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $3,418 · +0.2% YoY. Source: county tax records.