3091 Colonial Way Unit H4 · Chamblee, GA 30341

$155,000

1 bd · 1.0 ba · 800 sqft · Condo public records · 11 Days on market

Built 1956 $235/mo HOA · 15% of rent

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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).

• Cash flow +13.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• DSCR +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this Condo in sought-after, charming Georgetown of Atlanta neighborhood. This community has great amenities including swimming, tennis, playground, and laundry. Step inside to discover this open concept floor plan with all new flooring plus new paint. You won't miss the huge covered patio that overlooks the pool and tennis court, creating a lovely indoor-outdoor environment. You can spend every morning enjoying your coffee overlooking the beautifully landscape neighborhood. Georgetown of Atlanta is centrally located inside the Perimeter, just 10 minutes to Midtown. This condo has it all! No Rental Restrictions!

Key facts

• Overlooks the pool
• Huge covered patio
• $235 HOA

Tags

• HUGE COVERED PATIO
• OVERLOOKS THE POOL
• OVERLOOKS THE TENNIS COURT
• INDOOR OUTDOOR ENVIRONMENT
• 10 MINUTES TO MIDTOWN
• NO RENTAL RESTRICTIONS

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $235; Community amenities include fitness center, pool, tennis courts, sidewalks and proximity to public transport and shopping

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; 110-volt electric; Cable available; Electricity available; Water available
• Home design: Condominium; Three or more levels; Shingle roof; Resale condition; Brick construction on all sides; Brick/mortar foundation
• Construction: Brick construction (brick 4 sides); Shingle roof; Brick/mortar foundation
• Exterior features: Private entrance; Rain gutters; Covered patio; Patio; Chain link fencing; In-ground fenced pool; Pool house

Interior

• Kitchen: White cabinets; Country-style kitchen; Pantry; Dishwasher; Electric range; Refrigerator; ENERGY STAR qualified appliances
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Luxury vinyl
• Bathrooms: One full bathroom with tub/shower combo
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: 9-foot ceilings on main level; Recessed lighting; 2+ shared/common walls
• Laundry & utility: Laundry in common area; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $7 ($85/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 6.3% vs local median 2.7% in Chamblee — 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 72/100 on livability (#62 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, commute A-; Watch: cost of living C-, crime F, amenities 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: Hawthorne Elementary School (math 17% / reading 17%, grade F, #936 of 1,228 statewide, top 79%, 347 students, 60% FRL); Henderson Middle School (math 23% / reading 32%, grade F, #268 of 470 statewide, top 57%, 1,411 students, 56% FRL); Lakeside High School (math 27% / reading 34%, grade F, #128 of 424 statewide, top 30%, 2,141 students, 43% FRL).
• Market conditions: Rents soft (-0.1%/yr); 176 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).

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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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.
• Current owner paid $62k; list at $155k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $155,000

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
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: 1.02% ✓
• Cap rate: 6.35%
• Cash-on-cash: 0.20%
• DSCR: 1.01
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.9%
• Equity multiple: 0.33×
• Total profit: $-29,186
• Equity at exit: $23,111

10-year hold

• IRR: -22.9%
• Equity multiple: 0.03×
• Total profit: $-42,277
• Equity at exit: $13,402

Cash invested: $43,400 (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 30341

• Rents YoY: -0.1%
• Active inventory: 176
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,588 high
• Mortgage (P&I): −$813
• Tax from tax record: −$135 /mo · $1,617/yr
• Insurance: −$65
• HOA: −$235
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $7

Break-even live

Break-even rent $1,579

Max offer price $155,000

Occupancy floor 95%

Sensitivity live

Price	-10% $95	-5% $51	+0% $7	+5% $-37	+10% $-81
Rent	-10% $-118	-5% $-56	+0% $7	+5% $70	+10% $133
Rate	-1.0pp $85	-0.5pp $47	base $7	+0.5pp $-33	+1.0pp $-74

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3091 Colonial Way Unit F2 Atlanta, GA	2.0	1.5	1029	$1,650	$1.60	26d	1	0.03mi
3091 Colonial Way Unit F2 Atlanta, GA	2.0	1.5	1029	$1,650	$1.60	14d	1	0.03mi
3091 Colonial Way Unit F2 Atlanta, GA	2.0	1.5	1029	$1,650	$1.60	18d	1	0.03mi
3097 Colonial Way Unit M Atlanta, GA	1.0	1.0	888	$1,500	$1.69	14d	1	0.06mi
3097 Colonial Way Atlanta, GA	1.0	1.0	888	$1,500	$1.69	26d	1	0.06mi
3083 Colonial Way Unit L Atlanta, GA	1.0	1.0	768	$1,195	$1.56	0d	1	0.12mi
3121 Colonial Way Unit E Chamblee, GA	2.0	1.5	960	$2,000	$2.08	45d	1	0.14mi
3121 Colonial Way Unit E Chamblee, GA	2.0	1.5	960	$2,000	$2.08	26d	1	0.14mi
3077 Colonial Way Unit C Atlanta, GA	2.0	1.5	960	$2,000	$2.08	26d	1	0.14mi
3077 Colonial Way Unit C Atlanta, GA	2.0	1.5	960	$2,000	$2.08	17d	1	0.14mi
3001 Northeast Expy NE Atlanta, GA	1.0–3.0	1.0–2.0	1068	$1,274	$1.19	1d	41	0.28mi
2500 Shallowford Rd Atlanta, GA	3.0	1.0–2.0	905	$1,401	$1.55	0d	37	0.57mi
2412 Peachwood Cir NE #3 Atlanta, GA	2.0	1.5	1116	$1,750	$1.57	45d	1	0.85mi
2382 Peachwood Cir NE Unit 84A Atlanta, GA	2.0	1.5	900	$1,750	$1.94	7d	1	0.86mi
2283 Plaster Rd NE Atlanta, GA	1.0	1.0	975	$1,300	$1.33	7d	1	0.94mi
2236 Plaster Rd NE Atlanta, GA	1.0	1.0	760	$1,199	$1.58	45d	1	0.95mi
2236 Plaster Rd NE Unit 2206I Atlanta, GA	2.0	2.0	1050	$1,499	$1.43	26d	1	0.96mi
2236 Plaster Rd NE Unit 2220E Atlanta, GA	1.0	1.0	760	$1,199	$1.58	26d	1	0.96mi
2236 Plaster Rd NE Unit 2224E Atlanta, GA	1.0	1.0	760	$1,199	$1.58	7d	1	0.96mi
2331 Peachwood Cir NE Unit 2A Atlanta, GA	2.0	2.0	950	$1,625	$1.71	45d	1	0.98mi
2345 Peachwood Cir NE Atlanta, GA	1.0–2.0	1.0–2.0	1039	$1,243	$1.20	3d	29	0.99mi
2628 Northeast Expy NE Atlanta, GA	1.0	1.0	750	$1,000	$1.33	1d	1	1.15mi
2515 Northeast Expy Atlanta, GA	1.0–2.0	1.0–2.0	865	$1,088	$1.26	46d	12	1.21mi
2615 Oak Shadow Ln NE Atlanta, GA	1.0–2.0	1.0–2.0	1125	$1,196	$1.06	3d	10	1.41mi
2452 Chamblee Tucker Rd Chamblee, GA	2.0	1.0–2.0	908	$1,950	$2.15	45d	1	1.44mi

HOA detail condo

• Monthly dues: $235 · $2,820/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $155,000 Active 11 DOM
2. 2026-06-18
   days on market $155,000 Active 8 DOM
3. 2026-06-17
   days on market $155,000 Active 7 DOM
4. 2026-06-16
   days on market $155,000 Active 6 DOM
5. 2026-06-15
   days on market $155,000 Active 5 DOM
6. 2026-06-13
   remarks 629-char remark
7. 2026-06-13
   statusdays on marketlisting id $155,000 Active 3 DOM
8. 2026-05-04
   historical
9. 2026-05-04
   historical
10. 2026-02-12
    listed $155,000 Active
11. 2026-02-12
    listed $155,000 New
12. 2002-04-01
    soldstatus $62,500
13. 2000-12-29
    soldstatus $56,500
14. 1986-10-01
    soldstatus $39,300

ⓘ 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: $1,617 · $135/mo
• Projected year-2 tax: $1,617 · $135/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 ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 5 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,052
• − Mortgage interest: −$8,682
• − Property taxes: −$1,617
• − Insurance: −$775
• − Repairs & maintenance: −$1,524
• − Management: −$1,524
• − HOA: −$2,820
• − Depreciation: −$4,509
• Taxable loss: −$2,400
• Est. tax savings @ 24.0%: +$576
• After-tax cash flow: $661/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 — Chamblee

• Score: 72/100
• State rank: #62
• US rank: #5979

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dekalb County · 782,738 people
• City population: 36,021
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 36,021
• Household income: $86,313
• Rent vs Own: 53.7% rent · 46.3% own
• Severe rent burden: 1891.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 41% Hispanic / Latino 30% Two or more races 18% Black 15% Asian 10% Native American 5%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 23% · Canada, China, Vietnam
• Languages at home: 62% English-only · Spanish 25% Other Indo-European 3% Chinese 3%

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: ▼ -310.32%
• Current HPI: 293.7118
• Rent YoY: ▬ -0.05%
• 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

+294.4% since first listed

10 events — show timeline

• 2026-06-10 Listed $155,000 GAMLS
• 2026-06-10 Listed $155,000 FMLS
• 2026-06-10 Listed $155,000 GAMLS
• 2026-05-04 Listing Removed — FMLS
• 2026-05-04 Listing Removed — GAMLS
• 2026-02-12 Listed $155,000 FMLS
• 2026-02-12 Listed $155,000 GAMLS
• 2002-04-01 Sold (Public Records) $62,500 Public Records
• 2000-12-29 Sold (Public Records) $56,500 Public Records
• 1986-10-01 Sold (Public Records) $39,300 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,617 · +6.5% YoY. Source: county tax records.