3834 Kensingwood Trce · Belvedere Park, GA 30032

$159,900

3 bd · 2.0 ba · 1,496 sqft · Condo public records · 443 Days on market

Built 1974 $107/sqft · 16% below area Est $191k · 16% under $190/mo HOA · 10% 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 +20.5/30.0
• ARV discount +14.9/15.0
• 1% rule +6.8/10.0
• DSCR +6.5/10.0
• 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

TOWNHOME! FULLY FURNISHED! BRAND NEW FLOORS! THE BATHROOM AND KITCHEN HAS BEEN FULLY RENOVATED! UNIT HAS BEEN USED AS AN AIRBNB BRINGING IN $125 / DAY STEAL FOR $159,900 HOA IS $190/ MONTH RENTAL READY! FULLY FURNISHED

Key facts

• Fully renovated
• Brand new floors
• Fully furnished

Tags

• FULLY FURNISHED
• BRAND NEW FLOORS
• FULLY RENOVATED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 rising (+1.3%/yr); 422 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); 52% 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 36% 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 $1k of loan paydown is wiped out by about $5k 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 443 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $100k; list at $160k implies a 60% gain — meaningful room to come down on a strong offer.

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 $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 443 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 1974 — 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: 1.18% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.61%
• DSCR: 1.25
• GRM: 7.1

CMA / ARV

• ARV (median comp): $191,221
• List price: $159,900
• Delta: -16.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.34% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-15,536
• Equity at exit: $23,842

10-year hold

• IRR: -2.9%
• Equity multiple: 0.82×
• Total profit: $-8,078
• Equity at exit: $13,825

Cash invested: $44,772 (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: 422
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,879 high
• Mortgage (P&I): −$839
• Tax from tax record: −$180 /mo · $2,159/yr
• Insurance: −$67
• HOA: −$190
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $209

Break-even live

Break-even rent $1,614

Max offer price $159,900

Occupancy floor 84%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3841 Kensington Rd Decatur, GA	2.0–3.0	2.0	1220	$1,800	$1.48	1d	14	0.06mi
3893 Kensington Rd Decatur, GA	2.0	2.0	930	$1,299	$1.40	43d	1	0.12mi
1055 Holcombe Rd Decatur, GA	2.0–3.0	1.5	1157	$1,459	$1.26	2d	6	0.17mi
3960 Redan Rd Stone Mountain, GA	1.0–3.0	1.0–2.0	1339	$3,194	$2.39	1d	19	0.38mi
3824 London Dr Decatur, GA	3.0	2.5	1544	$1,531	$0.99	43d	1	0.47mi
3964 Carlinswood Way Stone Mountain, GA	3.0	2.5	1681	$2,000	$1.19	43d	1	0.48mi
1081 Brittania Rd Unit 1 Stone Mountain, GA	3.0	2.5	1866	$1,950	$1.05	43d	1	0.49mi
1081 Brittania Rd Stone Mountain, GA	3.0	3.0	1866	$1,950	$1.05	43d	1	0.49mi
4011 Redan Rd #5 Stone Mountain, GA	3.0	2.5	1400	$2,040	$1.46	43d	1	0.53mi
4011 Redan Rd #5 Stone Mountain, GA	3.0	2.5	1426	$2,040	$1.43	18d	1	0.53mi
1023 Privy Ln Stone Mountain, GA	3.0	2.5	1701	$2,700	$1.59	4d	1	0.59mi
3800 W Wood Path Stone Mountain, GA	3.0	2.0	1344	$2,500	$1.86	43d	1	0.72mi
3465 Kensington Rd Decatur, GA	1.0–2.0	1.0–1.5	850	$1,650	$1.94	17d	1	0.72mi
3961 Covington Hwy Decatur, GA	2.0–3.0	1.0–1.5	1000	$1,560	$1.56	2d	8	0.77mi
1221 S Indian Creek Dr Stone Mountain, GA	1.0–2.0	1.0–2.0	905	$1,790	$1.98	24d	15	0.81mi
4151 Memorial Dr Decatur, GA	1.0–3.0	1.0–2.0	816	$1,892	$2.32	1d	145	0.86mi
3728 Loren Dr Decatur, GA	3.0	1.5	1340	$2,150	$1.60	43d	1	0.93mi
3345 Kensington Rd Decatur, GA	2.0	2.0	943	$1,452	$1.54	12d	1	1.05mi
3787 Redwing Cir Decatur, GA	3.0	1.0	1220	$1,495	$1.23	43d	1	1.10mi
1423 Dennis Dr Decatur, GA	3.0	1.0	1062	$1,200	$1.13	17d	1	1.11mi
750 Avondale Creek Dr Unit 144 Decatur, GA	2.0	2.0	956	$1,816	$1.90	43d	1	1.15mi
750 Avondale Creek Dr Decatur, GA	2.0	1.0–2.0	732	$1,901	$2.60	1d	14	1.15mi
260 Northern Ave Avondale Estates, GA	1.0–3.0	1.0–2.0	1155	$1,380	$1.19	43d	4	1.17mi
3907 Redwing Cir Decatur, GA	1.0–2.0	1.0–2.0	836	$1,149	$1.37	43d	18	1.18mi
3330 Mountain Dr Decatur, GA	1.0–3.0	1.0–2.0	972	$1,744	$1.79	1d	29	1.24mi
1473 Hyatt Cir Decatur, GA	3.0	2.5	1386	$2,050	$1.48	43d	1	1.25mi
3096 Calcutta St Decatur, GA	3.0	2.5	1386	$1,895	$1.37	43d	1	1.27mi
3106 Calcutta St Decatur, GA	3.0	2.5	1386	$1,895	$1.37	43d	1	1.28mi
3681 Pavilion Point Decatur, GA	2.0–4.0	1.0–2.0	1355	$1,700	$1.25	43d	1	1.28mi
3121 Journal Ct Decatur, GA	3.0	2.5	1386	$1,895	$1.37	19d	1	1.29mi
1502 Vernon Blvd Decatur, GA	3.0	3.0	1515	$2,050	$1.35	24d	1	1.29mi
1150 Maple Walk Cir Decatur, GA	2.0	2.0	1050	$1,299	$1.24	24d	3	1.30mi
3799 N Decatur Rd Decatur, GA	1.0–3.0	1.0–2.0	1087	$1,295	$1.19	1d	16	1.30mi
3900 Memorial Dr Decatur, GA	1.0–2.0	1.0–1.5	1050	$1,275	$1.21	12d	4	1.39mi
1428 David Cir Unit A11 Decatur, GA	3.0	1.5	1362	$1,830	$1.34	43d	1	1.41mi
1387 Midview Dr Decatur, GA	3.0	1.0	1026	$1,750	$1.71	43d	1	1.42mi
1683 Vernon Blvd Decatur, GA	3.0	2.5	1515	$1,840	$1.21	18d	1	1.42mi
1368 Alverado Way Decatur, GA	2.0	1.0	1088	$1,523	$1.40	43d	1	1.43mi
3235 Beech Dr Decatur, GA	3.0	2.0	1264	$2,400	$1.90	43d	1	1.44mi
3184 Delancy St Decatur, GA	3.0	2.5	1515	$1,800	$1.19	43d	1	1.44mi

HOA detail condo

• Monthly dues: $190 · $2,280/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $159,900 Active 443 DOM
2. 2026-06-17
   days on market $159,900 Active 442 DOM
3. 2026-06-16
   days on market $159,900 Active 441 DOM
4. 2026-06-15
   days on market $159,900 Active 440 DOM
5. 2026-06-13
   days on market $159,900 Active 438 DOM
6. 2026-06-09
   days on market $159,900 Active 434 DOM
7. 2026-06-08
   days on market $159,900 Active 433 DOM
8. 2026-06-07
   days on market $159,900 Active 432 DOM
9. 2026-06-04
   days on market $159,900 Active 429 DOM
10. 2026-06-03
    days on market $159,900 Active 428 DOM
11. 2026-06-02
    days on market $159,900 Active 427 DOM
12. 2026-06-01
    days on market $159,900 Active 426 DOM
13. 2026-05-31
    days on market $159,900 Active 425 DOM
14. 2025-04-01
    listed $159,900 New 242-char remark

    Show marketing remark (242 chars)

    TOWNHOME! FULLY FURNISHED! BRAND NEW FLOORS! THE BATHROOM AND KITCHEN HAS BEEN FULLY RENOVATED! UNIT HAS BEEN USED AS AN AIRBNB BRINGING IN $125 / DAY STEAL FOR $159,900 HOA IS $190/ MONTH RENTAL READY! FULLY FURNISHED

15. 2021-11-03
    soldstatus $100,000
16. 2002-01-07
    soldstatus $69,000
17. 1995-04-28
    soldstatus $50,000
18. 1992-09-28
    soldstatus $44,722

ⓘ 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: $2,159 · $180/mo
• Projected year-2 tax: $2,159 · $180/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 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,548
• − Mortgage interest: −$8,957
• − Property taxes: −$2,159
• − Insurance: −$800
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − HOA: −$2,280
• − Depreciation: −$4,652
• Taxable income: $93
• Est. tax owed @ 24.0%: −$22
• After-tax cash flow: $2,489/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): 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

+257.5% since first listed

5 events — show timeline

• 2025-04-01 Listed $159,900 GAMLS
• 2021-11-03 Sold (Public Records) $100,000 Public Records
• 2002-01-07 Sold (Public Records) $69,000 Public Records
• 1995-04-28 Sold (Public Records) $50,000 Public Records
• 1992-09-28 Sold (Public Records) $44,722 Public Records

Property tax history

+3.3%/yr

Latest (2025): $2,159 · -7.4% YoY. Source: county tax records.