3085 Colonial Way Unit H · Chamblee, GA 30341

$164,960

2 bd · 1.5 ba · 960 sqft · Condo public records · 15 Days on market

Built 1956 $172/sqft · 11% below area Est $185k · 11% under $359/mo HOA · 21% 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).

• ARV discount +12.4/15.0
• Cash flow +10.1/30.0
• 1% rule +5.6/10.0
• Livability +3.6/5.0
• DSCR +2.9/10.0
• 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

Move-in ready condo featuring beautiful hardwood floors throughout-no carpet! The open-concept living and dining area opens to a private balcony through French doors, creating an ideal indoor-outdoor living experience. The kitchen is highlighted by a striking copper range hood, tile backsplash, and generous counter and cabinet space for everyday cooking and storage. Upstairs, you'll find two spacious bedrooms, a full bath, and convenient second-floor laundry. The private balcony overlooks the sports court, offering a quiet, tucked-away feel. Located in the established Georgetown of Atlanta condominium community, this home is an excellent opportunity for first-time buyers seeking low-maintenance living in a central location. Enjoy an interior, peaceful setting just inside the I-285 perimeter with easy access to I-85, Chamblee, Brookhaven, Buckhead, and Midtown. The community offers a well-appointed amenity package including a swimming pool, tennis courts, basketball court, fitness center, clubhouse, playground, and green space-plus close proximity to shopping, dining, parks, MARTA, and major employment centers.

Key facts

• Second-floor laundry
• Private balcony
• Sports court

Tags

• HARDWOOD FLOORS
• PRIVATE BALCONY
• COPPER RANGE HOOD
• TILE BACKSPLASH
• SECOND-FLOOR LAUNDRY
• SPORTS COURT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (10.2% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $148k (10.2% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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-, schools D+, crime 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.
• Market conditions: Rents soft (-0.1%/yr); 174 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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

• It's been on market 15 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,065 (10.2% below list)

Questions for the listing agent

1. 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?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.06% ✓
• Cap rate: 5.60%
• Cash-on-cash: -2.48%
• DSCR: 0.89
• GRM: 7.9

CMA / ARV

• ARV (median comp): $185,062
• List price: $164,960
• Delta: -8.14%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -24.8%
• Equity multiple: 0.18×
• Total profit: $-37,714
• Equity at exit: $24,596

10-year hold

• IRR: -39.6%
• Equity multiple: -0.29×
• Total profit: $-59,543
• Equity at exit: $14,263

Cash invested: $46,189 (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: 174
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,749 high
• Mortgage (P&I): −$865
• Tax from tax record: −$185 /mo · $2,215/yr
• Insurance: −$69
• HOA: −$359
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $-96

Break-even live

Break-even rent $1,870

Max offer price $148,065

Occupancy floor —

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: $41,240
• Closing costs: $4,949
• Reserves months: —
• Total cash needed: —

Rent comps 24 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	24d	1	0.04mi
3091 Colonial Way Unit F2 Atlanta, GA	2.0	1.5	1029	$1,650	$1.60	17d	1	0.04mi
3091 Colonial Way Unit F2 Atlanta, GA	2.0	1.5	1029	$1,650	$1.60	13d	1	0.04mi
3077 Colonial Way Unit C Atlanta, GA	2.0	1.5	960	$2,000	$2.08	15d	1	0.10mi
3077 Colonial Way Unit C Atlanta, GA	2.0	1.5	960	$2,000	$2.08	24d	1	0.10mi
3097 Colonial Way Unit M Atlanta, GA	1.0	1.0	888	$1,500	$1.69	13d	1	0.11mi
3097 Colonial Way Atlanta, GA	1.0	1.0	888	$1,500	$1.69	24d	1	0.11mi
3121 Colonial Way Unit E Chamblee, GA	2.0	1.5	960	$2,000	$2.08	43d	1	0.12mi
3121 Colonial Way Unit E Chamblee, GA	2.0	1.5	960	$2,000	$2.08	24d	1	0.12mi
3001 Northeast Expy NE Atlanta, GA	1.0–3.0	1.0–2.0	1068	$1,766	$1.65	1d	41	0.22mi
2500 Shallowford Rd Atlanta, GA	3.0	1.0–2.0	905	$1,693	$1.87	1d	34	0.53mi
2412 Peachwood Cir NE #3 Atlanta, GA	2.0	1.5	1116	$1,750	$1.57	43d	1	0.81mi
2382 Peachwood Cir NE Unit 84A Atlanta, GA	2.0	1.5	900	$1,750	$1.94	5d	1	0.83mi
2283 Plaster Rd NE Atlanta, GA	1.0	1.0	975	$1,300	$1.33	5d	1	0.88mi
2236 Plaster Rd NE Atlanta, GA	1.0	1.0	760	$1,199	$1.58	43d	1	0.90mi
2236 Plaster Rd NE Unit 2206I Atlanta, GA	2.0	2.0	1050	$1,499	$1.43	24d	1	0.91mi
2236 Plaster Rd NE Unit 2220E Atlanta, GA	1.0	1.0	760	$1,199	$1.58	24d	1	0.91mi
2236 Plaster Rd NE Unit 2224E Atlanta, GA	1.0	1.0	760	$1,199	$1.58	5d	1	0.91mi
2331 Peachwood Cir NE Unit 2A Atlanta, GA	2.0	2.0	950	$1,625	$1.71	43d	1	0.94mi
2345 Peachwood Cir NE Atlanta, GA	1.0–2.0	1.0–2.0	1039	$2,042	$1.96	2d	29	0.95mi
2628 Northeast Expy NE Atlanta, GA	1.0	1.0	750	$1,030	$1.37	3d	2	1.10mi
2515 Northeast Expy Atlanta, GA	1.0–2.0	1.0–2.0	865	$1,280	$1.48	44d	12	1.17mi
2615 Oak Shadow Ln NE Atlanta, GA	1.0–2.0	1.0–2.0	1125	$1,964	$1.75	1d	10	1.35mi
2452 Chamblee Tucker Rd Chamblee, GA	2.0	1.0–2.0	908	$1,950	$2.15	43d	1	1.42mi

HOA detail condo

• Monthly dues: $359 · $4,308/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $164,960 Active 15 DOM
2. 2026-06-17
   days on market $164,960 Active 14 DOM
3. 2026-06-16
   days on market $164,960 Active 13 DOM
4. 2026-06-15
   days on market $164,960 Active 12 DOM
5. 2026-06-13
   days on market $164,960 Active 10 DOM
6. 2026-06-09
   days on market $164,960 Active 6 DOM
7. 2026-06-08
   days on market $164,960 Active 5 DOM
8. 2026-06-07
   days on market $164,960 Active 4 DOM
9. 2026-06-04
   pricedays on marketlisting id $164,960 Active 1 DOM
10. 2026-06-01
    days on market $170,000 Active 117 DOM
11. 2026-05-31
    days on market $170,000 Active 116 DOM
12. 2026-02-04
    listed $170,000 New 1127-char remark

    Show marketing remark (1145 chars)

    Move-in ready condo featuring beautiful hardwood floors throughout—no carpet! The open-concept living and dining area opens to a private balcony through French doors, creating an ideal indoor-outdoor living experience. The kitchen is highlighted by a striking copper range hood, tile backsplash, and generous counter and cabinet space for everyday cooking and storage. Upstairs, you’ll find two spacious bedrooms, a full bath, and convenient second-floor laundry. The private balcony overlooks the sports court, offering a quiet, tucked-away feel. Located in the established Georgetown of Atlanta condominium community, this home is an excellent opportunity for first-time buyers seeking low-maintenance living in a central location. Enjoy an interior, peaceful setting just inside the I-285 perimeter with easy access to I-85, Chamblee, Brookhaven, Buckhead, and Midtown. The community offers a well-appointed amenity package including a swimming pool, tennis courts, basketball court, fitness center, clubhouse, playground, and green space—plus close proximity to shopping, dining, parks, MARTA, and major employment centers.

13. 2026-02-04
    listed $170,000 Active 1145-char remark

    Show marketing remark (1145 chars)

    Move-in ready condo featuring beautiful hardwood floors throughout—no carpet! The open-concept living and dining area opens to a private balcony through French doors, creating an ideal indoor-outdoor living experience. The kitchen is highlighted by a striking copper range hood, tile backsplash, and generous counter and cabinet space for everyday cooking and storage. Upstairs, you’ll find two spacious bedrooms, a full bath, and convenient second-floor laundry. The private balcony overlooks the sports court, offering a quiet, tucked-away feel. Located in the established Georgetown of Atlanta condominium community, this home is an excellent opportunity for first-time buyers seeking low-maintenance living in a central location. Enjoy an interior, peaceful setting just inside the I-285 perimeter with easy access to I-85, Chamblee, Brookhaven, Buckhead, and Midtown. The community offers a well-appointed amenity package including a swimming pool, tennis courts, basketball court, fitness center, clubhouse, playground, and green space—plus close proximity to shopping, dining, parks, MARTA, and major employment centers.

14. 2019-06-04
    soldstatus $149,000
15. 2019-05-29
    soldstatus $149,000 Sold
16. 2019-05-22
    soldstatus $149,000 Closed
17. 2019-05-06
    status Under Contract
18. 2019-05-06
    status Pending
19. 2019-05-03
    listed $139,900 Active
20. 2019-05-03
    listed $139,900 New
21. 2009-10-16
    soldstatus $91,000
22. 2009-09-30
    soldstatus $91,000
23. 2009-06-20
    listed $99,500
24. 2006-09-15
    soldstatus $125,300
25. 2001-06-19
    soldstatus $96,000
26. 1998-10-16
    soldstatus $45,900
27. 1998-01-22
    soldstatus $45,000
28. 1985-05-31
    soldstatus $53,200

ⓘ 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: $2,215 · $185/mo
• Projected year-2 tax: $2,215 · $185/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 · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $20,988
• − Mortgage interest: −$9,240
• − Property taxes: −$2,215
• − Insurance: −$825
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − HOA: −$4,308
• − Depreciation: −$4,799
• Taxable loss: −$3,757
• Est. tax savings @ 24.0%: +$902
• After-tax cash flow: $-246/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

+219.5% since first listed

17 events — show timeline

• 2026-02-04 Listed $170,000 FMLS
• 2026-02-04 Listed $170,000 GAMLS
• 2019-06-04 Sold (Public Records) $149,000 Public Records
• 2019-05-29 Sold (MLS) $149,000 GAMLS
• 2019-05-22 Sold (MLS) $149,000 FMLS
• 2019-05-06 Pending — GAMLS
• 2019-05-06 Pending — FMLS
• 2019-05-03 Listed $139,900 GAMLS
• 2019-05-03 Listed $139,900 FMLS
• 2009-10-16 Sold (Public Records) $91,000 Public Records
• 2009-09-30 Sold (MLS) $91,000 FMLS
• 2009-06-20 Listed $99,500 FMLS
• 2006-09-15 Sold (Public Records) $125,300 Public Records
• 2001-06-19 Sold (Public Records) $96,000 Public Records
• 1998-10-16 Sold (Public Records) $45,900 Public Records
• 1998-01-22 Sold (Public Records) $45,000 Public Records
• 1985-05-31 Sold (Public Records) $53,200 Public Records

Property tax history

+1.5%/yr

Latest (2025): $2,215 · -3.6% YoY. Source: county tax records.