3185 Bluebird Ln · Belvedere Park, GA 30032

$206,000

3 bd · 1.0 ba · 1,236 sqft · SingleFamily public records · 25 Days on market

Built 1954 10,454 sqft lot $167/sqft · 25% below area Est $275k · 25% under

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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 +15.0/15.0
• Cash flow +10.2/30.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• DSCR +2.9/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious home featuring a functional layout with comfortable living spaces designed for everyday living and entertaining. The main living area offers an inviting atmosphere, while the kitchen provides ample cabinet and counter space with easy access to the dining area. Generous bedrooms provide flexibility for guests, home office, or hobbies. The primary suite offers a private retreat. Enjoy backyard space perfect for relaxing or outdoor gatherings. Great opportunity to make this home your own. One or more photo(s) was virtually staged.

Key facts

• Private retreat
• Backyard space
• 0.24 acre lot

Tags

• EASY ACCESS TO DINING AREA
• PRIVATE RETREAT
• BACKYARD SPACE

Property features AI

Exterior

• Parking: Driveway with open parking
• Utilities: Other water source; Other sewer; Other utilities
• Home design: One-level home; Resale property
• Construction: Stucco construction; Composition roof; Block foundation
• Exterior features: Paved road frontage; Other road frontage type

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Other kitchen features
• Bedrooms: Three main-level bedrooms; Primary suite on the main level
• Flooring: Vinyl flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central heating; Ceiling fans for cooling
• Interior features: Open concept dining area; No shared/common walls; Other interior features
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $206k.

Deal economics

• At list price, monthly cash flow is $-118 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (16.5% below list).
• Recommended offer: $172k (16.5% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,240 units permitted in DeKalb County in 2024 (385 in 5+ unit buildings).
• This rent runs 33% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 25 days — a 2% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• 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 $172,031 (16.5% 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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.46%
• DSCR: 0.89
• GRM: 10.0

CMA / ARV

• ARV (median comp): $275,323
• List price: $206,000
• Delta: -25.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3094 Santa Monica Dr	0.38mi	3/1.5	1,213 (-2%)	3mo	$185,000	$153	75
1546 Alverado Way	0.33mi	3/2.0	1,157 (-6%)	2mo	$290,000	$251	69
2996 Laguna Dr	0.44mi	3/2.0	1,140 (-8%)	1mo	$290,000	$254	61
3013 Catalina Dr	0.41mi	3/3.0	1,347 (+9%)	1mo	$360,000	$267	57
1737 Mckenzie Dr	0.57mi	3/1.0	1,125 (-9%)	2mo	$204,000	$181	57
3042 Monterey Dr	0.35mi	3/2.0	1,392 (+13%)	3mo	$245,000	$176	56
3012 Monterey Dr	0.42mi	3/2.0	1,092 (-12%)	3mo	$275,000	$252	55
3340 Pinehill Dr	0.39mi	3/1.5	1,058 (-14%)	3mo	$168,500	$159	53
2930 Belvedere Ln	0.61mi	3/2.0	1,131 (-8%)	3mo	$317,900	$281	51
3193 Beech Dr	0.59mi	4/2.0 (+1)	1,340 (+8%)	2mo	$345,000	$257	48
3260 Beech Dr	0.65mi	3/1.0	1,074 (-13%)	1mo	$257,000	$239	47
2926 Monterey Dr	0.62mi	3/2.0	1,379 (+12%)	2mo	$320,000	$232	46

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: -22.3%
• Equity multiple: 0.24×
• Total profit: $-43,689
• Equity at exit: $30,715

10-year hold

• IRR: -21.2%
• Equity multiple: -0.02×
• Total profit: $-58,731
• Equity at exit: $17,811

Cash invested: $57,680 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,720 high
• Mortgage (P&I): −$1,080
• Tax from tax record: −$311 /mo · $3,736/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $-118

Break-even live

Break-even rent $1,870

Max offer price $185,087

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: $51,500
• Closing costs: $6,180
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3191 Bluebird Ln Decatur, GA	4.0	2.0	1300	$7,250	$5.58	24d	1	0.04mi
3024 Pasadena Dr Decatur, GA	3.0	2.0	1079	$1,993	$1.85	5d	1	0.40mi
1368 Alverado Way Decatur, GA	2.0	1.0	1088	$1,523	$1.40	44d	1	0.47mi
1387 Midview Dr Decatur, GA	3.0	1.0	1026	$1,750	$1.71	44d	1	0.48mi
3010 Santa Monica Dr Decatur, GA	4.0	2.0	1392	$2,095	$1.51	44d	1	0.50mi
1598 San Gabriel Ave Decatur, GA	3.0	2.0	1451	$2,023	$1.39	24d	1	0.54mi
1428 David Cir Unit A11 Decatur, GA	3.0	1.5	1362	$1,830	$1.34	44d	1	0.55mi
2939 Belvedere Ln Decatur, GA	3.0	1.5	1500	$1,595	$1.06	13d	1	0.56mi
2939 Belvedere Ln Decatur, GA	3.0	1.5	1500	$1,595	$1.06	10d	1	0.56mi
3365 Columbia Trce Decatur, GA	3.0	2.0	1252	$1,450	$1.16	5d	1	0.57mi
3381 Columbia Trce Decatur, GA	3.0	2.0	1252	$1,450	$1.16	5d	1	0.59mi
3427 Jackson Dr Decatur, GA	3.0	2.0	1400	$1,900	$1.36	19d	1	0.59mi
1752 Lynn Ln Decatur, GA	3.0	2.0	1390	$1,950	$1.40	44d	1	0.59mi
3395 Columbia Trce Decatur, GA	3.0	2.0	1252	$1,450	$1.16	24d	1	0.61mi
3405 Cobbs Ferry Dr Unit 3405 Decatur, GA	3.0	2.0	1331	$1,550	$1.16	44d	1	0.62mi
3235 Beech Dr Decatur, GA	3.0	2.0	1264	$2,400	$1.90	44d	1	0.62mi
1693 San Gabriel Ave Decatur, GA	3.0	2.0	1265	$1,995	$1.58	4d	1	0.69mi
1689 San Gabriel Ave Decatur, GA	3.0	1.0	989	$1,450	$1.47	44d	1	0.69mi
3432 Cobbs Ferry Dr Decatur, GA	3.0	2.0	1252	$1,450	$1.16	5d	1	0.70mi
3445 Cobbs Ferry Dr Decatur, GA	3.0	2.0	1252	$1,450	$1.16	24d	1	0.73mi
3485 Cobbs Ferry Dr Decatur, GA	3.0	2.0	1252	$1,450	$1.16	24d	1	0.76mi
1150 Maple Walk Cir Decatur, GA	2.0	2.0	1050	$1,299	$1.24	24d	3	0.82mi
1855 Shamrock Dr Decatur, GA	3.0	2.0	1310	$1,771	$1.35	5d	1	0.84mi
2873 White Oak Dr Decatur, GA	2.0	1.5	816	$1,800	$2.21	44d	1	0.85mi
1873 Shamrock Dr Decatur, GA	4.0	1.5	1492	$1,075	$0.72	5d	1	0.88mi
3503 Misty Valley Rd Decatur, GA	3.0	1.5	984	$1,495	$1.52	24d	1	0.94mi
4100 Glenwood Rd Decatur, GA	1.0–2.0	1.0–1.5	925	$1,450	$1.57	5d	17	0.95mi
3900 Memorial Dr Decatur, GA	1.0–2.0	1.0–1.5	1050	$1,275	$1.21	13d	4	0.95mi
1932 Rosewood Rd Decatur, GA	4.0	2.5	1294	$1,120	$0.87	24d	1	1.04mi
1932 Rosewood Rd Decatur, GA	4.0	2.5	1215	$1,485	$1.22	13d	1	1.04mi
3405 Elgin Dr Decatur, GA	3.0	2.0	1198	$1,700	$1.42	44d	1	1.05mi
2771 White Oak Dr Decatur, GA	3.0	2.0	1032	$1,524	$1.48	5d	2	1.06mi
1953 Laurel Ln Decatur, GA	3.0	1.0	1202	$945	$0.79	21d	1	1.07mi
3529 Robins Landing Way Decatur, GA	1.0–3.0	1.0–2.0	982	$1,677	$1.71	44d	26	1.10mi
3529 Robins Landing Way Decatur, GA	1.0–4.0	1.0–2.0	1042	$1,443	$1.38	2d	37	1.10mi
2758 Amelia Ave Decatur, GA	2.0	1.0	850	$1,500	$1.76	13d	1	1.11mi
1972 Glendale Dr Decatur, GA	3.0	2.0	1211	$1,790	$1.48	44d	1	1.13mi
1978 Glendale Dr Decatur, GA	3.0	2.0	1211	$1,490	$1.23	13d	1	1.14mi
1978 Glendale Dr Decatur, GA	3.0	2.0	1211	$1,200	$0.99	18d	1	1.14mi
1978 Glendale Dr Decatur, GA	3.0	2.0	1211	$1,100	$0.91	4d	1	1.14mi

Listing history 13 events

1. 2026-06-02
   status $206,000 Pending 25 DOM
2. 2026-06-01
   days on market $206,000 Active 25 DOM

   Show marketing remark (542 chars)

   Spacious home featuring a functional layout with comfortable living spaces designed for everyday living and entertaining. The main living area offers an inviting atmosphere, while the kitchen provides ample cabinet and counter space with easy access to the dining area. Generous bedrooms provide flexibility for guests, home office, or hobbies. The primary suite offers a private retreat. Enjoy backyard space perfect for relaxing or outdoor gatherings. Great opportunity to make this home your own. One or more photo(s) was virtually staged.

3. 2026-05-31
   days on market $206,000 Active 24 DOM
4. 2026-04-23
   listed $206,000 New 542-char remark

   Show marketing remark (542 chars)

   Spacious home featuring a functional layout with comfortable living spaces designed for everyday living and entertaining. The main living area offers an inviting atmosphere, while the kitchen provides ample cabinet and counter space with easy access to the dining area. Generous bedrooms provide flexibility for guests, home office, or hobbies. The primary suite offers a private retreat. Enjoy backyard space perfect for relaxing or outdoor gatherings. Great opportunity to make this home your own. One or more photo(s) was virtually staged.

5. 2026-04-23
   listed $206,000 Active 542-char remark

   Show marketing remark (542 chars)

   Spacious home featuring a functional layout with comfortable living spaces designed for everyday living and entertaining. The main living area offers an inviting atmosphere, while the kitchen provides ample cabinet and counter space with easy access to the dining area. Generous bedrooms provide flexibility for guests, home office, or hobbies. The primary suite offers a private retreat. Enjoy backyard space perfect for relaxing or outdoor gatherings. Great opportunity to make this home your own. One or more photo(s) was virtually staged.

6. 2019-04-17
   soldstatus $1,305,000
7. 2018-03-14
   soldstatus $912,000
8. 2016-03-15
   soldstatus $51,000
9. 2013-03-20
   soldstatus $45,000
10. 2009-04-22
    soldstatus $15,000

    Show marketing remark (94 chars)

    Come make an offer on this ranch! Needs some TLC but good bones. Sold as-is, no disclosures.

11. 2008-09-16
    listed $25,000

    Show marketing remark (94 chars)

    Come make an offer on this ranch! Needs some TLC but good bones. Sold as-is, no disclosures.

12. 2004-09-09
    soldstatus $140,000
13. 1991-01-16
    soldstatus $46,000

ⓘ 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: $3,736 · $311/mo
• Projected year-2 tax: $3,736 · $311/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 ≥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: $20,644
• − Mortgage interest: −$11,539
• − Property taxes: −$3,736
• − Insurance: −$1,030
• − Repairs & maintenance: −$1,651
• − Management: −$1,651
• − Depreciation: −$5,993
• Taxable loss: −$4,957
• Est. tax savings @ 24.0%: +$1,190
• After-tax cash flow: $-231/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

+347.8% since first listed

12 events — show timeline

• 2026-06-01 Pending — GAMLS
• 2026-06-01 Pending — FMLS
• 2026-04-23 Listed $206,000 FMLS
• 2026-04-23 Listed $206,000 GAMLS
• 2019-04-17 Sold (Public Records) $1,305,000 Public Records
• 2018-03-14 Sold (Public Records) $912,000 Public Records
• 2016-03-15 Sold (Public Records) $51,000 Public Records
• 2013-03-20 Sold (Public Records) $45,000 Public Records
• 2009-04-22 Sold (MLS) $15,000 FMLS
• 2008-09-16 Listed $25,000 FMLS
• 2004-09-09 Sold (Public Records) $140,000 Public Records
• 1991-01-16 Sold (Public Records) $46,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $3,736 · +0.1% YoY. Source: county tax records.