2925 Snapfinger Mnr

Decatur, GA 30035

$159,900B

3 bd · 2.5 ba · 1,632 sqft · Built — · Townhouse · Active · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,105/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$266
• HOA: −$0
• Vac / Maint / Mgmt: −$442
• Net cashflow: $558/mo
• Annual: $6,692/yr
• Cap rate: 10.48%
• Cash-on-cash: 14.95%
• DSCR: 1.67
• 1% rule: 1.32%
• Cash to close: $44,772

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $160k. Condition is rated good.
• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• It's been on market 101 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• 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.
• 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.
• 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: Fairington Elementary School (math 2% / reading 2%, grade F, #1,204 of 1,228 statewide, top 100%, 546 students, 100% FRL); Miller Grove Middle School (math 8% / reading 18%, grade F, #410 of 470 statewide, top 87%, 722 students, 100% FRL); Miller Grove High School (math 5% / reading 5%, grade F, #394 of 424 statewide, top 97%, 1,188 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 7% at this address vs 24% district-wide (-17 pts) — the specific schools serving this property underperform the Dekalb County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 221 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 49d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).
• DeKalb County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.5% vs local median 4.1% in Decatur — 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.
• This rent runs 38% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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.
• 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.
• 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.