3398 Columbia Trce · Belvedere Park, GA 30032

$97,000

3 bd · 2.0 ba · 1,252 sqft · Condo public records · 39 Days on market

Built 1972 $77/sqft · 64% below area

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Stop renting and start building equity! This Decatur gem at 3398 Columbia Trce offers a rare opportunity to own a spacious family home for a monthly payment that could be well under the average area rent. If you have a vision and are ready to reimagine the space, this is the perfect canvas. With a solid layout and great bones, this home is primed for moderate renovations that will instantly add value. Imagine refreshing the kitchen's dark wood cabinetry with modern finishes, or updating the bathrooms to create your own personal spa retreats. Each room, from the cozy bedrooms to the versatile living areas, offers a chance to peel back the layers and reveal a stylish, contemporary home tailor

Key facts

• Refreshing kitchen
• Updating bathrooms
• Solid layout

Tags

• SPACIOUS FAMILY HOME
• SOLID LAYOUT
• REFRESHING KITCHEN
• UPDATING BATHROOMS
• VERSATILE LIVING AREAS
• HIGH POTENTIAL RESIDENCE

Property features AI

Finance

• Other: Land lease
• HOA & community: Has association; Association maintains grounds

Exterior

• Parking: Detached carport
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; High speed internet available; Cable available
• Home design: Residential cabin/condominium; Resale property; Two-story structure
• Construction: Built in 1972; Vinyl siding construction; Composition roof; No basement
• Exterior features: Corner lot

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 bedrooms total, 1 on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Two levels; Foyer
• Laundry & utility: Washer and Dryer; Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $97k.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $97k).
• Recommended offer: $94k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 3.7% 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); 431 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $671 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $50k; list at $97k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,090 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.72% ✓
• Cap rate: 14.43%
• Cash-on-cash: 29.07%
• DSCR: 2.29
• GRM: 4.9

CMA / ARV

• ARV (median comp): $269,690
• List price: $97,000
• Delta: -64.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.34% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 1.86×
• Total profit: $23,463
• Equity at exit: $14,463

10-year hold

• IRR: 28.6%
• Equity multiple: 3.34×
• Total profit: $63,600
• Equity at exit: $8,387

Cash invested: $27,160 (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: 431
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,664 high
• Mortgage (P&I): −$509
• Tax from tax record: −$107 /mo · $1,289/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $658

Break-even live

Break-even rent $831

Max offer price $97,000

Occupancy floor 55%

Sensitivity live

Price	-10% $713	-5% $685	+0% $658	+5% $630	+10% $603
Rent	-10% $526	-5% $592	+0% $658	+5% $724	+10% $789
Rate	-1.0pp $707	-0.5pp $683	base $658	+0.5pp $633	+1.0pp $607

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: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3405 Cobbs Ferry Dr Unit 3405 Decatur, GA	3.0	2.0	1331	$1,550	$1.16	45d	1	0.05mi
3395 Columbia Trce Decatur, GA	3.0	2.0	1252	$1,450	$1.16	25d	1	0.06mi
3381 Columbia Trce Decatur, GA	3.0	2.0	1252	$1,450	$1.16	6d	1	0.08mi
3365 Columbia Trce Decatur, GA	3.0	2.0	1252	$1,450	$1.16	6d	1	0.10mi
3432 Cobbs Ferry Dr Decatur, GA	3.0	2.0	1252	$1,450	$1.16	6d	1	0.12mi
3445 Cobbs Ferry Dr Decatur, GA	3.0	2.0	1252	$1,450	$1.16	25d	1	0.15mi
3485 Cobbs Ferry Dr Decatur, GA	3.0	2.0	1252	$1,450	$1.16	25d	1	0.17mi
3427 Jackson Dr Decatur, GA	3.0	2.0	1400	$1,900	$1.36	20d	1	0.30mi
3560 Sweetgum Ln Decatur, GA	4.0	3.0	1848	$1,766	$0.96	6d	1	0.34mi
3503 Misty Valley Rd Decatur, GA	3.0	1.5	984	$1,495	$1.52	25d	1	0.37mi
1428 David Cir Unit A11 Decatur, GA	3.0	1.5	1362	$1,830	$1.34	45d	1	0.44mi
4100 Glenwood Rd Decatur, GA	1.0–2.0	1.0–1.5	925	$1,450	$1.57	6d	17	0.46mi
1752 Lynn Ln Decatur, GA	3.0	2.0	1390	$1,950	$1.40	45d	1	0.52mi
1387 Midview Dr Decatur, GA	3.0	1.0	1026	$1,750	$1.71	45d	1	0.55mi
3191 Bluebird Ln Decatur, GA	4.0	2.0	1300	$7,250	$5.58	25d	1	0.56mi
3579 Tulip Dr Decatur, GA	3.0	2.0	1075	$1,550	$1.44	25d	1	0.60mi
1368 Alverado Way Decatur, GA	2.0	1.0	1088	$1,523	$1.40	45d	1	0.60mi
3405 Elgin Dr Decatur, GA	3.0	2.0	1198	$1,700	$1.42	45d	1	0.62mi
3072 Lauren Parc Rd Decatur, GA	3.0	3.5	1743	$2,100	$1.20	45d	1	0.70mi
1855 Shamrock Dr Decatur, GA	3.0	2.0	1310	$1,771	$1.35	6d	1	0.71mi
1873 Shamrock Dr Decatur, GA	4.0	1.5	1492	$1,075	$0.72	6d	1	0.74mi
1423 Dennis Dr Decatur, GA	3.0	1.0	1062	$1,200	$1.13	18d	1	0.79mi
4371 Glenwood Rd Decatur, GA	1.0–3.0	1.0–2.0	1100	$1,525	$1.39	45d	6	0.81mi
4371 Glenwood Rd Decatur, GA	1.0–3.0	1.0–2.0	1100	$1,525	$1.39	3d	9	0.81mi
3692 Larkspur Ter Decatur, GA	3.0	2.0	1100	$1,700	$1.55	45d	1	0.82mi
3711 Daisy Dr Decatur, GA	3.0	1.5	1240	$1,700	$1.37	45d	1	0.84mi
3024 Pasadena Dr Decatur, GA	3.0	2.0	1079	$1,958	$1.81	0d	1	0.90mi
3010 Santa Monica Dr Decatur, GA	4.0	2.0	1392	$2,095	$1.51	45d	1	0.92mi
3235 Beech Dr Decatur, GA	3.0	2.0	1264	$2,400	$1.90	45d	1	0.95mi
1953 Laurel Ln Decatur, GA	3.0	1.0	1202	$945	$0.79	22d	1	0.98mi
1932 Rosewood Rd Decatur, GA	4.0	2.5	1215	$1,485	$1.22	14d	1	0.98mi
1932 Rosewood Rd Decatur, GA	4.0	2.5	1294	$1,120	$0.87	25d	1	0.98mi
2998 Belvedere Ln Decatur, GA	3.0	2.0	1720	$1,700	$0.99	45d	1	1.01mi
3728 Loren Dr Decatur, GA	3.0	1.5	1340	$2,150	$1.60	45d	1	1.01mi
3961 Covington Hwy Decatur, GA	2.0–3.0	1.0–1.5	1000	$1,560	$1.56	3d	8	1.01mi
3787 Redwing Cir Decatur, GA	3.0	1.0	1220	$1,495	$1.23	45d	1	1.02mi
1598 San Gabriel Ave Decatur, GA	3.0	2.0	1451	$2,023	$1.39	25d	1	1.02mi
3229 McAfee Rd Decatur, GA	3.0	1.0	1300	$1,600	$1.23	45d	1	1.03mi
200 High Court Pl Decatur, GA	1.0–3.0	1.0–2.0	1130	$1,705	$1.51	3d	12	1.03mi
3213 Bobbie Ln Decatur, GA	3.0	2.5	1678	$2,050	$1.22	14d	1	1.03mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-21
   days on market $97,000 Active 39 DOM
2. 2026-06-18
   days on market $97,000 Active 36 DOM
3. 2026-06-17
   days on market $97,000 Active 35 DOM
4. 2026-06-16
   days on market $97,000 Active 34 DOM
5. 2026-06-15
   days on market $97,000 Active 33 DOM
6. 2026-06-13
   days on market $97,000 Active 31 DOM
7. 2026-06-09
   days on market $97,000 Active 27 DOM
8. 2026-06-08
   days on market $97,000 Active 26 DOM
9. 2026-06-07
   days on market $97,000 Active 25 DOM
10. 2026-06-04
    days on market $97,000 Active 22 DOM
11. 2026-06-03
    days on market $97,000 Active 21 DOM
12. 2026-06-02
    days on market $97,000 Active 20 DOM
13. 2026-06-01
    days on market $97,000 Active 19 DOM
14. 2026-05-31
    days on market $97,000 Active 18 DOM
15. 2026-05-13
    listed $97,000 New 1079-char remark
16. 2026-03-26
    historical
17. 2026-01-07
    price $99,999
18. 2025-12-18
    listed $107,000 New
19. 2018-05-31
    historical
20. 2018-04-19
    price $54,900
21. 2018-03-20
    price $65,000
22. 2018-02-09
    price $39,900
23. 2018-01-27
    price $49,900
24. 2017-06-05
    listed $53,900 New
25. 2017-06-05
    historical
26. 2017-02-28
    price $53,900
27. 2017-01-22
    listed $54,900 New
28. 2000-07-31
    soldstatus $50,500
29. 1994-04-29
    soldstatus $36,500
30. 1993-11-10
    soldstatus $30,044
31. 1983-02-01
    soldstatus $37,900
32. 1982-03-12
    soldstatus $31,500

ⓘ 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: $1,289 · $107/mo
• Projected year-2 tax: $1,289 · $107/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 6 d/yr ≥104°F today · 16 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: $19,965
• − Mortgage interest: −$5,434
• − Property taxes: −$1,289
• − Insurance: −$485
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$2,822
• Taxable income: $6,741
• Est. tax owed @ 24.0%: −$1,618
• After-tax cash flow: $6,276/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 — 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

+207.9% since first listed

18 events — show timeline

• 2026-05-13 Listed $97,000 GAMLS
• 2026-03-26 Listing Removed — GAMLS
• 2026-01-07 Price Changed $99,999 GAMLS
• 2025-12-18 Listed $107,000 GAMLS
• 2018-05-31 Listing Removed — GAMLS
• 2018-04-19 Price Changed $54,900 GAMLS
• 2018-03-20 Price Changed $65,000 GAMLS
• 2018-02-09 Price Changed $39,900 GAMLS
• 2018-01-27 Price Changed $49,900 GAMLS
• 2017-06-05 Listed $53,900 GAMLS
• 2017-06-05 Listing Removed — GAMLS
• 2017-02-28 Price Changed $53,900 GAMLS
• 2017-01-22 Listed $54,900 GAMLS
• 2000-07-31 Sold (Public Records) $50,500 Public Records
• 1994-04-29 Sold (Public Records) $36,500 Public Records
• 1993-11-10 Sold (Public Records) $30,044 Public Records
• 1983-02-01 Sold (Public Records) $37,900 Public Records
• 1982-03-12 Sold (Public Records) $31,500 Public Records

Property tax history

+7.3%/yr

Latest (2025): $1,289 · -2.0% YoY. Source: county tax records.