135 E Hill St #22 · Decatur, GA 30030

$118,000

2 bd · 1.0 ba · 850 sqft · Condo · 452 Days on market

Built 1964 Good condition $139/sqft · 48% below area Est $228k · 48% under $1900/mo HOA · 104% of rent ↓ 2% since listing

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Schools +5.9/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A rare opportunity in The Columns at East Hill. A member-owned cooperative in the highly sought after Downtown Decatur area! This beautiful 2 bedroom unit offers a spacious living area perfect for entertaining and relaxing, an eat-in kitchen, and more. Seller will provide a brand-new refrigerator with an acceptable offer. Monthly carrying charges $950 cover HVAC, hot water heater, furnace, roof, exterior maintenance, landscaping, property taxes, building liability insurance, water, and trash. Providing peace of mind and true low-maintenance living. Located in a vibrant community with top-rated schools, shopping, and restaurants nearby. This charming unit is waiting for its new owner.

Key facts

• $1,900 HOA
• Parking
• Built 1964

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $118k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $104k (12.0% below list) — sets the bar for market timing.
• Cap rate -6.6% vs local median 4.2% in Decatur — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 85/100 on livability (#4 in GA, #538 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• City Schools Of Decatur (suburban): math 64% / reading 70% proficiency, ranked #2 of 174 in GA (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Winnona Park Elementary School (322 students, 5% FRL); Beacon Hill Middle School (math 58% / reading 68%, grade B+, #32 of 470 statewide, top 7%, 1,323 students, 13% FRL); Decatur High School (math 47% / reading 64%, grade C, #19 of 424 statewide, top 4%, 1,853 students, 12% FRL).
• Market conditions: Rents rising (+3.9%/yr); 304 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 74d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent is only 17% of the median local income ($127k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $816 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 452 days — a 12% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 4 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

• Watch-outs: HOA is 104% of rent.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,840 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 452 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 1.56% ✓
• Cap rate: -6.57%
• Cash-on-cash: -45.95%
• DSCR: -1.04
• GRM: 5.4

CMA / ARV

• ARV (median comp): $227,514
• List price: $118,000
• Delta: -48.13%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
837 E Lake Dr	0.43mi	2/1.0	832 (-2%)	4mo	$479,900	$577	73
16 1st Ave NE	1.09mi	2/2.0	850 (0%)	2mo	$475,000	$559	60
545 Quillian Ave	1.48mi	2/1.0	931 (+10%)	4mo	$285,000	$306	46
230 E Ponce De Leon Ave #327	1.22mi	2/1.0	1,014 (+19%)	2mo	$320,000	$316	38
240 Sisson Ave NE	1.19mi	2/1.0	1,046 (+23%)	3mo	$460,000	$440	37
513 Drexel Ave	1.20mi	2/1.0	990 (+16%)	4mo	$530,000	$535	37
423 Clairemont Ave #13	1.47mi	2/2.0	960 (+13%)	4mo	$305,000	$318	36
778 Brown Pl	1.40mi	2/1.5	1,028 (+21%)	3mo	$425,000	$413	36
225 E Ponce de Leon Ave Ave #426	1.15mi	1/1.0 (-1)	1,000 (+18%)	1mo	$375,000	$375	34
2630 Talley St #217	1.07mi	2/2.0	1,026 (+21%)	2mo	$312,000	$304	34
201 W Ponce De Leon Ave #218	1.26mi	2/2.0	1,052 (+24%)	4mo	$477,000	$453	33
2630 Talley St #228	1.07mi	2/2.0	1,026 (+21%)	4mo	$318,000	$310	33

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 · 3.9% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: -1.93×
• Total profit: $-96,836
• Equity at exit: $17,594

10-year hold

• IRR: —
• Equity multiple: -4.33×
• Total profit: $-176,226
• Equity at exit: $10,202

Cash invested: $33,040 (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 30030

• Rents YoY: 3.9%
• Active inventory: 304
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,836 high
• Mortgage (P&I): −$619
• Tax est. 1.5%: −$148 /mo · $1,770/yr
• Insurance: −$49
• HOA: −$1,900
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $-1,265

Break-even live

Break-even rent $3,437

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-1,184	-5% $-1,225	+0% $-1,265	+5% $-1,306	+10% $-1,347
Rent	-10% $-1,410	-5% $-1,338	+0% $-1,265	+5% $-1,193	+10% $-1,120
Rate	-1.0pp $-1,206	-0.5pp $-1,235	base $-1,265	+0.5pp $-1,296	+1.0pp $-1,327

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: $29,500
• Closing costs: $3,540
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 Buchanan Ter Unit 2 Decatur, GA	2.0	1.0	800	$1,700	$2.12	41d	1	0.09mi
732 S Candler St Decatur, GA	2.0	1.5	1080	$1,800	$1.67	120d	1	0.16mi
734 S Candler St Decatur, GA	2.0	1.5	1080	$1,800	$1.67	87d	1	0.16mi
545 Oakview Rd Apt 1 Decatur, GA	3.0	1.0	1000	$2,195	$2.19	100d	1	0.43mi
711 Oakview Rd Decatur, GA	2.0	1.0	800	$1,850	$2.31	7d	2	0.46mi
711 Oakview Rd Unit 17 Decatur, GA	2.0	1.0	800	$1,900	$2.38	59d	1	0.47mi
267 Jefferson Pl Decatur, GA	2.0	1.0	864	$1,550	$1.79	89d	1	0.58mi
255 Jefferson Pl #23 Decatur, GA	2.0	1.0	864	$1,700	$1.97	0d	1	0.60mi
615 3rd Ave Unit F24 Decatur, GA	2.0	1.0	875	$1,425	$1.63	139d	1	0.84mi
1622 Venice Dr SE Atlanta, GA	3.0	1.0	1080	$1,675	$1.55	139d	1	0.84mi
406 S Columbia Dr Unit A Decatur, GA	2.0	1.0	1000	$2,150	$2.15	139d	1	0.85mi
402 S Columbia Dr Unit B Decatur, GA	2.0	1.0	999	$2,095	$2.10	65d	1	0.86mi
402 S Columbia Dr Unit B Decatur, GA	2.0	1.0	999	$2,195	$2.20	74d	1	0.86mi
245 E Trinity Pl Decatur, GA	2.0	1.0–2.0	894	$2,599	$2.91	0d	24	0.88mi
615 3rd Ave Unit D15 Decatur, GA	2.0	1.0	875	$1,395	$1.59	120d	1	0.90mi
615 3rd Ave Decatur, GA	2.0	1.0	875	$1,295	$1.48	18d	3	0.90mi
251 Candler Rd SE Atlanta, GA	2.0	1.0	850	$1,362	$1.60	20d	2	0.92mi
3106 Memorial Dr SE Unit N204 Atlanta, GA	2.0	1.0	915	$1,695	$1.85	139d	1	0.93mi
3106 Memorial Dr Atlanta, GA	1.0–3.0	1.0–2.0	957	$1,425	$1.49	11d	4	0.97mi
217 Adair St #6 Decatur, GA	2.0	1.0	837	$1,900	$2.27	84d	1	1.01mi
217 Adair St #6 Decatur, GA	2.0	1.0	837	$1,900	$2.27	82d	1	1.01mi
122 W Trinity Pl Decatur, GA	2.0	1.0–2.0	975	$3,499	$3.59	0d	20	1.01mi
105 Sycamore Pl Decatur, GA	1.0	1.0	995	$2,375	$2.39	0d	6	1.03mi
2630 Talley St #426 Decatur, GA	1.0	1.0	752	$1,700	$2.26	80d	1	1.04mi
2630 Talley St #424 Decatur, GA	1.0	1.0	752	$1,700	$2.26	87d	1	1.04mi
317 Morgan Pl SE Atlanta, GA	1.0	1.0	650	$2,000	$3.08	107d	1	1.05mi
212 Adair St Decatur, GA	2.0	1.0	668	$1,750	$2.62	0d	2	1.06mi
305 E Ponce de Leon Ave Unit D1 Decatur, GA	2.0	1.0	830	$1,795	$2.16	72d	1	1.13mi
305 E Ponce de Leon Ave Unit E3 Decatur, GA	2.0	1.0	830	$1,650	$1.99	139d	1	1.13mi
715 E College Ave Decatur, GA	3.0	1.0–2.0	1053	$3,444	$3.27	0d	286	1.16mi
230 E Ponce de Leon Ave #104 Decatur, GA	2.0	2.0	1106	$1,200	$1.08	139d	1	1.16mi
230 E Ponce de Leon Ave Decatur, GA	1.0–2.0	1.0–2.0	940	$2,800	$2.98	98d	2	1.17mi
430 E Ponce de Leon Ave Unit 430-101 Decatur, GA	1.0	1.0	560	$1,450	$2.59	11d	1	1.17mi
230 E Ponce de Leon Ave #221 Decatur, GA	1.0	1.0	886	$2,000	$2.26	20d	1	1.19mi
230 E Ponce de Leon Ave #221 Decatur, GA	1.0	1.0	886	$2,000	$2.26	42d	1	1.19mi
784 Derrydown Way Decatur, GA	1.0–2.0	1.0	925	$1,200	$1.30	44d	3	1.20mi
1596 Line Cir Apt 1 Decatur, GA	2.0	1.0	966	$995	$1.03	97d	1	1.21mi
3170 Alston Dr Unit C05 Decatur, GA	2.0	2.5	977	$1,850	$1.89	37d	1	1.23mi
3170 Alston Dr Unit A01 Decatur, GA	1.0	1.0	595	$1,650	$2.77	37d	1	1.23mi
1610 Line St Decatur, GA	2.0	1.0	950	$1,350	$1.42	139d	1	1.24mi

HOA detail $1,900/mo · $22,800/yr condo

• Likely covers: watertrashlandscapingexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-23
   days on market $118,000 Active 452 DOM
2. 2026-09-22
   days on market $118,000 Active 451 DOM
3. 2026-09-21
   days on market $118,000 Active 450 DOM
4. 2026-09-20
   days on market $118,000 Active 449 DOM
5. 2026-09-19
   days on market $118,000 Active 448 DOM
6. 2026-09-18
   days on market $118,000 Active 447 DOM
7. 2026-09-17
   days on market $118,000 Active 446 DOM
8. 2026-09-16
   days on market $118,000 Active 445 DOM
9. 2026-09-15
   days on market $118,000 Active 444 DOM
10. 2026-09-14
    days on market $118,000 Active 443 DOM
11. 2026-09-13
    days on market $118,000 Active 442 DOM
12. 2026-09-12
    days on market $118,000 Active 441 DOM
13. 2026-09-11
    days on market $118,000 Active 440 DOM
14. 2026-09-05
    days on market $118,000 Active 434 DOM
15. 2026-09-04
    days on market $118,000 Active 433 DOM
16. 2026-09-03
    days on market $118,000 Active 432 DOM
17. 2026-08-31
    days on market $118,000 Active 429 DOM
18. 2026-08-29
    days on market $118,000 Active 427 DOM
19. 2026-08-28
    days on market $118,000 Active 426 DOM
20. 2026-08-27
    days on market $118,000 Active 425 DOM
21. 2026-08-25
    days on market $118,000 Active 423 DOM
22. 2026-08-24
    days on market $118,000 Active 422 DOM
23. 2026-08-23
    days on market $118,000 Active 421 DOM
24. 2026-08-22
    days on market $118,000 Active 420 DOM
25. 2026-08-21
    days on market $118,000 Active 419 DOM
26. 2026-08-20
    days on market $118,000 Active 418 DOM
27. 2026-08-19
    days on market $118,000 Active 417 DOM
28. 2026-08-18
    days on market $118,000 Active 416 DOM
29. 2026-08-17
    days on market $118,000 Active 415 DOM
30. 2026-08-16
    days on market $118,000 Active 414 DOM
31. 2026-08-15
    days on market $118,000 Active 413 DOM
32. 2026-08-14
    days on market $118,000 Active 412 DOM
33. 2026-08-13
    days on market $118,000 Active 411 DOM
34. 2026-08-12
    days on market $118,000 Active 410 DOM
35. 2026-08-11
    days on market $118,000 Active 409 DOM
36. 2026-08-10
    days on market $118,000 Active 408 DOM
37. 2026-08-09
    days on market $118,000 Active 407 DOM
38. 2026-08-08
    days on market $118,000 Active 406 DOM
39. 2026-08-06
    days on market $118,000 Active 404 DOM
40. 2026-08-05
    days on market $118,000 Active 403 DOM
41. 2026-08-04
    days on market $118,000 Active 402 DOM
42. 2026-08-03
    days on market $118,000 Active 401 DOM
43. 2026-07-31
    days on market $118,000 Active 398 DOM
44. 2026-07-30
    days on market $118,000 Active 396 DOM
45. 2026-07-28
    days on market $118,000 Active 395 DOM
46. 2026-07-26
    days on market $118,000 Active 393 DOM
47. 2026-07-24
    days on market $118,000 Active 391 DOM
48. 2026-07-23
    days on market $118,000 Active 390 DOM
49. 2026-07-22
    days on market $118,000 Active 389 DOM
50. 2026-07-21
    days on market $118,000 Active 388 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $22,028
• − Mortgage interest: −$6,610
• − Property taxes: −$1,770
• − Insurance: −$590
• − Repairs & maintenance: −$1,762
• − Management: −$1,762
• − HOA: −$22,800
• − Depreciation: −$3,433
• Taxable loss: −$16,699
• Est. tax savings @ 24.0%: +$4,008
• After-tax cash flow: $-11,176/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $4,250–$12,750 screening

This condo is in good condition with minimal repairs needed. It offers a spacious living area and is located in a vibrant community with top-rated schools and amenities.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Clean gutters — Improves drainage and overall appearance ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 59/100

Zoned Schools

Elementary Winnona Park Elementary School Middle Beacon Hill Middle School B+ GA #32/470 Nat'l #1,453/14,009 High Decatur High School C GA #19/424 Nat'l #4,346/17,239

Schools (NCES district)

• District: City Schools Of Decatur
• NCES district ID: 1301680
• Math proficiency: 64% ▼ -2.00%
• Reading proficiency: 70% ▼ -1.00%
• Median HH income: $77,812
• Composite: 59.52/100
• National rank: #919
• State rank: #2 of 174 in GA

A Composite livability gradescore 85/100

Livability — Decatur

• Score: 85/100
• State rank: #4
• US rank: #538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decatur, GA
• County: Dekalb County · 839,977 people
• City population: 169,430
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 31,756
• Household income: $126,830
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 14% Two or more races 12% Hispanic / Latino 9% Asian 5%
• Hispanic origin (detail): Mexican 3% Cuban 3%
• Common ancestry: Slovak 4% Italian 4% Scotch-Irish 3%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 85% English-only · Spanish 5% Chinese 2% Other Indo-European 2%

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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: ▼ -666.48%
• Current HPI: 271.6457
• Rent YoY: ▲ 3.90%
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

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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

-1.7% since first listed

9 events — show timeline

• 2025-12-01 Relisted — GAMLS
• 2025-12-01 Relisted — FMLS
• 2025-11-28 Listing Removed — FMLS
• 2025-11-28 Listing Removed — GAMLS
• 2025-08-04 Price Changed $118,000 GAMLS
• 2025-08-04 Price Changed $118,000 FMLS
• 2025-06-25 Listed $120,000 FMLS
• 2025-06-14 Coming Soon $120,000 FMLS
• 2025-06-14 Listed $120,000 GAMLS