1627 Line Cir · Belvedere Park, GA 30032

$539,000

8 bd · 4.0 ba · — sqft · MultiFamily · 26 Days on market

Built 1961 Good condition 3,863 sqft lot

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Why this score? — see what drove the C- 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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Come check out this great quadraplex property. Each unit offers 2 bedrooms and 1 bathroom. Unit 4 is tenant occupied with a valid lease through 07/07/2024. This is an exceptional opportunity, whether you're a first-time homebuyer looking to nest in one unit and lease out the others, or an investor looking for ROI. Don't let this opportunity slip through your fingers and miss out on the chance to generate rental income!

Key facts

• Established area
• Multifamily property
• Immediate income

Tags

• MULTIFAMILY PROPERTY
• ESTABLISHED AREA
• CONSISTENT RENTAL DEMAND
• IMMEDIATE INCOME
• UPSIDE POTENTIAL
• STABLE RENTAL HISTORY

Property features AI

Finance

• Other: Resale property; Lot approximately 0.089 acres (public records)
• Financial info: Residential income property with 4 total units
• HOA & community: Has association; Association covers insurance, grounds maintenance, private roads, reserve fund and other items

Exterior

• Parking: More than one parking space per unit
• Utilities: Public water; Public sewer; Individual electric meters
• Home design: Residential income property — quadruplex; Built in 1961; Two stories; Subdivision: Belevedere Park Apartments; Address: Decatur, GA 30032
• Construction: Brick exterior; Year built 1961
• Exterior features: Brick construction; Sidewalks and street lights nearby; Near public transportation and shopping

Interior

• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Two-level layout; Crawl space foundation; No fireplaces
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $539k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $737 ($9k/yr) — positive. Per door: $184/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $539k).
• Recommended offer: $531k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.8% in Belvedere Park — 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 68/100 on livability (#153 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety 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: Peachcrest Elementary School (math 2% / reading 8%, grade F, #1,160 of 1,228 statewide, top 98%, 677 students, 100% FRL); Mary Mcleod Bethune Middle School (math 4% / reading 13%, grade F, #439 of 470 statewide, top 94%, 718 students, 100% FRL); Towers High School (math 2% / reading 12%, grade F, #385 of 424 statewide, top 92%, 764 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 rising (+1.3%/yr); 422 active listings in the ZIP; 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• At $5,648/mo this rent would consume 108% of the median local household income ($63k/yr) (locally 2097% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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 26 days — a 2% lower offer ($531k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago 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 $401k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $530,915 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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.
7. 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.
8. 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: 1.05% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.86%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

No comps found within radius.

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1600 Line Cir	0.09mi	8/4.0	—	20mo	$475,000	—	66

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 · 1.34% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-49,596
• Equity at exit: $80,367

10-year hold

• IRR: -2.0%
• Equity multiple: 0.87×
• Total profit: $-19,229
• Equity at exit: $46,603

Cash invested: $150,920 (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 30032

• Rents YoY: 1.3%
• Active inventory: 422
• Price-to-rent: 31.8×

Monthly cashflow live

• Estimated rent: $5,648 high
• Mortgage (P&I): −$2,827
• Tax est. 1.5%: −$674 /mo · $8,085/yr
• Insurance: −$225
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,186
• Net cashflow: $737

Break-even live

Break-even rent $4,715

Max offer price $539,000

Occupancy floor 82%

Sensitivity live

Price	-10% $1,110	-5% $923	+0% $737	+5% $551	+10% $365
Rent	-10% $291	-5% $514	+0% $737	+5% $960	+10% $1,183
Rate	-1.0pp $1,008	-0.5pp $874	base $737	+0.5pp $597	+1.0pp $455

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,648
Total (4 units)			$5,648

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: $134,750
• Closing costs: $16,170
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $539,000 Active 26 DOM
2. 2026-06-17
   days on market $539,000 Active 25 DOM
3. 2026-06-16
   days on market $539,000 Active 24 DOM
4. 2026-06-15
   days on market $539,000 Active 23 DOM
5. 2026-06-13
   days on market $539,000 Active 21 DOM
6. 2026-06-09
   days on market $539,000 Active 17 DOM
7. 2026-06-08
   days on market $539,000 Active 16 DOM
8. 2026-06-07
   days on market $539,000 Active 15 DOM
9. 2026-06-04
   days on market $539,000 Active 12 DOM
10. 2026-06-03
    days on market $539,000 Active 11 DOM
11. 2026-06-02
    days on market $539,000 Active 10 DOM
12. 2026-06-01
    days on market $539,000 Active 9 DOM
13. 2026-05-31
    days on market $539,000 Active 8 DOM
14. 2026-05-20
    listed $539,000 New
15. 2026-05-08
    listed $539,000 Active
16. 2025-04-25
    historical $1,150
17. 2025-04-06
    listed $1,150
18. 2025-04-06
    historical $1,100
19. 2025-03-15
    listed $1,100
20. 2025-03-15
    historical $1,200
21. 2025-03-11
    listed $1,200
22. 2025-03-06
    historical $1,200
23. 2025-02-04
    listed $1,200
24. 2023-12-15
    soldstatus $401,234 Closed 423-char remark

    Show marketing remark (423 chars)

    Come check out this great quadraplex property. Each unit offers 2 bedrooms and 1 bathroom. Unit 4 is tenant occupied with a valid lease through 07/07/2024. This is an exceptional opportunity, whether you're a first-time homebuyer looking to nest in one unit and lease out the others, or an investor looking for ROI. Don't let this opportunity slip through your fingers and miss out on the chance to generate rental income!

25. 2023-11-01
    status Pending 423-char remark

    Show marketing remark (423 chars)

    Come check out this great quadraplex property. Each unit offers 2 bedrooms and 1 bathroom. Unit 4 is tenant occupied with a valid lease through 07/07/2024. This is an exceptional opportunity, whether you're a first-time homebuyer looking to nest in one unit and lease out the others, or an investor looking for ROI. Don't let this opportunity slip through your fingers and miss out on the chance to generate rental income!

26. 2023-10-16
    listed $399,900 Active 423-char remark

    Show marketing remark (423 chars)

    Come check out this great quadraplex property. Each unit offers 2 bedrooms and 1 bathroom. Unit 4 is tenant occupied with a valid lease through 07/07/2024. This is an exceptional opportunity, whether you're a first-time homebuyer looking to nest in one unit and lease out the others, or an investor looking for ROI. Don't let this opportunity slip through your fingers and miss out on the chance to generate rental income!

ⓘ 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: $67,776
• − Mortgage interest: −$30,192
• − Property taxes: −$8,085
• − Insurance: −$2,695
• − Repairs & maintenance: −$5,422
• − Management: −$5,422
• − Depreciation: −$15,680
• Taxable income: $279
• Est. tax owed @ 24.0%: −$67
• After-tax cash flow: $8,777/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained 4-unit multifamily property is in good condition with no major repairs needed. It offers a strong investment opportunity with potential for cosmetic updates to enhance its resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Updating the kitchen appliances — Modernizing the kitchen appliances can improve the overall look and functionality of the property, attracting more potential buyers and renters.
• Both Landscaping improvements — Enhancing the landscaping can improve the curb appeal and make the property more inviting for potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the kitchen appliances — Modernizing the kitchen appliances can improve the overall look and functionality of the property, attracting more potential buyers and renters. ↑
• Both Landscaping improvements — Enhancing the landscaping can improve the curb appeal and make the property more inviting for potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Belvedere Park

• Score: 68/100
• State rank: #153
• US rank: #9886

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belvedere Park, GA
• County: Dekalb County · 782,738 people
• City population: 42,812
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 42,948
• Household income: $62,765
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 2097.0

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: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 18% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 7% · Canada, China, Guatemala
• Languages at home: 91% English-only · Spanish 4% Arabic 1% Other Indo-European 0%

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: ▼ -203.83%
• Current HPI: 221.0467
• Rent YoY: ▲ 1.34%
• 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

+34.8% since first listed

13 events — show timeline

• 2026-05-20 Listed $539,000 GAMLS
• 2026-05-08 Listed $539,000 FMLS
• 2025-04-25 Rental Removed $1,150 RENTALBEAST
• 2025-04-06 Listed for Rent $1,150 RENTALBEAST
• 2025-04-06 Rental Removed $1,100 RENTALBEAST
• 2025-03-15 Listed for Rent $1,100 RENTALBEAST
• 2025-03-15 Rental Removed $1,200 RENTALBEAST
• 2025-03-11 Listed for Rent $1,200 RENTALBEAST
• 2025-03-06 Rental Removed $1,200 RENTALBEAST
• 2025-02-04 Listed for Rent $1,200 RENTALBEAST
• 2023-12-15 Sold (MLS) $401,234 FMLS
• 2023-11-01 Pending — FMLS
• 2023-10-16 Listed $399,900 FMLS