4323 Lehaven Cir

Tucker, GA 30084

$235,000D+

3 bd · 2.5 ba · 1,540 sqft · Built 1983 · Townhouse · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,074/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$165
• HOA: −$65
• Vac / Maint / Mgmt: −$436
• Net cashflow: $177/mo
• Annual: $2,119/yr
• Cap rate: 7.19%
• Cash-on-cash: 3.22%
• DSCR: 1.14
• 1% rule: 0.88%
• Cash to close: $65,800

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $235k.
• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (11.7% below list).
• It's been on market 34 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $207k (11.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Midvale Elementary School (math 27% / reading 37%, grade F, #582 of 1,228 statewide, top 50%, 437 students, 54% FRL); Tucker Middle School (math 16% / reading 30%, grade F, #321 of 470 statewide, top 69%, 1,197 students, 67% FRL); Tucker High School (math 11% / reading 17%, grade F, #322 of 424 statewide, top 76%, 1,579 students, 52% FRL).
• Market conditions: Rents soft (-0.8%/yr); 216 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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.
• 3 sale attempts; this cycle's ask has dropped $17k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.2% vs local median 3.4% in Tucker — 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.
• This rent runs 31% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.