2683 Paxton Pl

Decatur, GA 30034

$232,900D-

3 bd · 4.5 ba · 1,675 sqft · Built 2023 · Townhouse · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,018/mo
• Mortgage (P&I): −$1,221
• Tax + insurance: −$531
• HOA: −$200
• Vac / Maint / Mgmt: −$424
• Net cashflow: $-359/mo
• Annual: $-4,302/yr
• Cap rate: 4.45%
• Cash-on-cash: -6.60%
• DSCR: 0.71
• 1% rule: 0.87%
• Cash to close: $65,212

Investor read

• This is a 3-bed/4.5-bath townhouse listed at $233k. Condition is rated good.
• At list price, monthly cash flow is $-359 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (27.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (13.4% below list).
• It's been on market 93 days — a 9% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $170k (27.2% below list) — sets the bar for cash-flow.
• 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 85/100 on livability (#4 in GA, #538 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment 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: Rainbow Elementary School (math 15% / reading 15%, grade F, #981 of 1,228 statewide, top 80%, 323 students, 100% FRL); Chapel Hill Middle School (math 12% / reading 27%, grade F, #356 of 470 statewide, top 78%, 692 students, 100% FRL); Southwest Dekalb High School (math 17% / reading 37%, grade F, #162 of 424 statewide, top 40%, 1,307 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 426 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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).
• DeKalb County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $16k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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.
• This rent runs 38% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 93 days. Have you received any prior offers? Is the seller open to a 27% 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.