3833 Peachtree Rd NE #1111

Brookhaven, GA 30319

$200,000D-

2 bd · 2.0 ba · 1,252 sqft · Built 1985 · Condo · Active · 174 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,481/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$652
• HOA: −$664
• Vac / Maint / Mgmt: −$521
• Net cashflow: $-405/mo
• Annual: $-4,857/yr
• Cap rate: 3.86%
• Cash-on-cash: -8.67%
• DSCR: 0.61
• 1% rule: 1.24%
• Cash to close: $56,000

Investor read

• This is a 2-bed/2.0-bath condo listed at $200k.
• At list price, monthly cash flow is $-405 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (31.7% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• It's been on market 174 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (31.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#21 in GA, #3,126 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute A-; Watch: schools C-, crime C-, cost of living 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.
• Watch-outs: property tax is 3.4% of price; HOA is 27% of rent.
• Market conditions: Rents rising (+2.9%/yr); 392 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• DeKalb County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 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.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 3.9% vs local median 2.6% in Brookhaven — 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.

Questions for listing agent

• 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?
• It's been on market 174 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?