1800 Clairmont Lk #116

North Druid Hills, GA 30033

$168,000D

1 bd · 1.0 ba · 800 sqft · Built 1989 · Condo · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,734/mo
• Mortgage (P&I): −$881
• Tax + insurance: −$707
• HOA: −$2,138
• Vac / Maint / Mgmt: −$364
• Net cashflow: $-2,356/mo
• Annual: $-28,266/yr
• Cap rate: -7.49%
• Cash-on-cash: -49.21%
• DSCR: -1.19
• 1% rule: 1.03%
• Cash to close: $47,040

Investor read

• This is a 1-bed/1.0-bath condo listed at $168k. Condition is rated good.
• At list price, monthly cash flow is $-2k ($-28k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (18.7% below list).
• Meets the 1% rule at list price ($2k rent vs $168k).
• It's been on market 41 days — a 3% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (18.7% 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 $5k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#5 in GA, #882 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing 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: Briar Vista Elementary School (math 24% / reading 34%, grade F, #633 of 1,228 statewide, top 54%, 446 students, 59% FRL); Druid Hills Middle School (math 22% / reading 37%, grade F, #249 of 470 statewide, top 55%, 956 students, 46% FRL); Druid Hills High School (math 12% / reading 22%, grade F, #277 of 424 statewide, top 67%, 1,358 students, 37% FRL) — zoned schools average 47% FRL vs 68% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $427/mo; HOA is 123% of rent.
• Market conditions: Rents rising (+2.2%/yr); 376 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 31d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate -7.5% vs local median 2.2% in North Druid Hills — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 41 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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?