3183 Nectarine Cir

Decatur, GA 30034

$66,000B

2 bd · 1.5 ba · 994 sqft · Built 1973 · Townhouse · Active · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,369/mo
• Mortgage (P&I): −$346
• Tax + insurance: −$210
• HOA: −$320
• Vac / Maint / Mgmt: −$288
• Net cashflow: $206/mo
• Annual: $2,474/yr
• Cap rate: 10.04%
• Cash-on-cash: 13.39%
• DSCR: 1.60
• 1% rule: 2.07%
• Cash to close: $18,480

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $66k. Condition is rated fair.
• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• It's been on market 91 days — a 9% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $60k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $456 of loan paydown is wiped out by about $2k 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: Bob Mathis Elementary School (math 5% / reading 15%, grade F, #1,076 of 1,228 statewide, top 89%, 373 students, 100% FRL); Chapel Hill Middle School (math 12% / reading 27%, grade F, #356 of 470 statewide, top 78%, 692 students, 100% FRL); Southwest Dekalb High School (math 17% / reading 37%, grade F, #162 of 424 statewide, top 40%, 1,307 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.3% of price; HOA is 23% of rent.
• Market conditions: Rents rising (+2.2%/yr); 585 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 57d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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.
• 8 sale attempts since 10y ago; this cycle's ask has dropped $14k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $66k implies a 560% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $18k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wind risk, 24% 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 10.0% vs local median 4.2% 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.

Questions for listing agent

• It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Minor: exterior siding — There is some discoloration and minor wear visible on the exterior siding.
• Minor: interior walls/paint — There is some minor wear and discoloration visible on the interior walls and paint.
• Minor: landscaping — The landscaping appears to be maintained but could benefit from some trimming and care.