3083 Colonial Way Unit N · Chamblee, GA 30341

$147,900

1 bd · 1.0 ba · 800 sqft · Condo · 70 Days on market

Built 1956 Excellent condition $185/sqft · 23% below area Est $193k · 23% under $255/mo HOA · 15% of rent ↓ 17% since listing

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Why this score? — see what drove the C- 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 +14.1/30.0
• 1% rule +6.1/10.0
• Condition / age +4.8/5.0
• DSCR +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a stunningly renovated, move-in ready condo in an outstanding community with nice amenities and no rental restrictions. Nicest one-bedroom renovation and best value in Georgetown. Has not been lived in since the renovations. Georgetown of Atlanta is conveniently located close to the bustling municipalities of Brookhaven and Chamblee, with easy access to major highways, MARTA, and downtown Atlanta. Private community with pool, tennis court, gym, playground, laundry facilities, and more greenspace than you can imagine. Top-of-the-line renovation with all new kitchen and bath, wood-look ceramic tile flooring, with beautiful modern plumbing and light fixtures. Kitchen has all new gorgeous quartz counters, stainless steel appliances, tile backsplash and walls. There is plenty of storage in this home with a total of five large closets. Property is located in the back, with a beautiful and private view facing the wooded creek.

Key facts

• Tennis court
• Renovated condo
• Private community

Tags

• RENOVATED CONDO
• NO RENTAL RESTRICTIONS
• PRIVATE COMMUNITY
• POOL
• TENNIS COURT
• GYM

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $148k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $23 ($275/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $139k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.5% 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; 25 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 $4k 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 70 days — a 6% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $139,026 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.11% ✓
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 7.5

CMA / ARV

• ARV (median comp): $192,587
• List price: $147,900
• Delta: -23.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.4%
• Equity multiple: 0.34×
• Total profit: $-27,150
• Equity at exit: $22,052

10-year hold

• IRR: -22.8%
• Equity multiple: 0.04×
• Total profit: $-39,664
• Equity at exit: $12,788

Cash invested: $41,412 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,646 high
• Mortgage (P&I): −$776
• Tax est. 1.5%: −$185 /mo · $2,218/yr
• Insurance: −$62
• HOA: −$255
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $23

Break-even live

Break-even rent $1,617

Max offer price $147,900

Occupancy floor 94%

Sensitivity live

Price	-10% $125	-5% $74	+0% $23	+5% $-28	+10% $-79
Rent	-10% $-107	-5% $-42	+0% $23	+5% $88	+10% $153
Rate	-1.0pp $97	-0.5pp $60	base $23	+0.5pp $-15	+1.0pp $-54

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: $36,975
• Closing costs: $4,437
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3077 Colonial Way Unit C Atlanta, GA	2.0	1.5	960	$2,000	$2.08	25d	1	0.06mi
3077 Colonial Way Unit C Atlanta, GA	2.0	1.5	960	$2,000	$2.08	16d	1	0.06mi
3091 Colonial Way Unit F2 Atlanta, GA	2.0	1.5	1029	$1,650	$1.60	25d	1	0.09mi
3091 Colonial Way Unit F2 Atlanta, GA	2.0	1.5	1029	$1,650	$1.60	13d	1	0.09mi
3091 Colonial Way Unit F2 Atlanta, GA	2.0	1.5	1029	$1,650	$1.60	17d	1	0.09mi
3121 Colonial Way Unit E Chamblee, GA	2.0	1.5	960	$2,000	$2.08	44d	1	0.12mi
3121 Colonial Way Unit E Chamblee, GA	2.0	1.5	960	$2,000	$2.08	25d	1	0.12mi
3097 Colonial Way Unit M Atlanta, GA	1.0	1.0	888	$1,500	$1.69	13d	1	0.17mi
3097 Colonial Way Atlanta, GA	1.0	1.0	888	$1,500	$1.69	25d	1	0.17mi
3001 Northeast Expy NE Atlanta, GA	1.0–3.0	1.0–2.0	1068	$1,274	$1.19	0d	41	0.17mi
2500 Shallowford Rd Atlanta, GA	3.0	1.0–2.0	905	$1,401	$1.55	0d	37	0.50mi
2412 Peachwood Cir NE #3 Atlanta, GA	2.0	1.5	1116	$1,750	$1.57	44d	1	0.78mi
2382 Peachwood Cir NE Unit 84A Atlanta, GA	2.0	1.5	900	$1,750	$1.94	5d	1	0.79mi
2283 Plaster Rd NE Atlanta, GA	1.0	1.0	975	$1,300	$1.33	5d	1	0.83mi
2236 Plaster Rd NE Atlanta, GA	1.0	1.0	760	$1,199	$1.58	44d	1	0.84mi
2236 Plaster Rd NE Unit 2206I Atlanta, GA	2.0	2.0	1050	$1,499	$1.43	25d	1	0.85mi
2236 Plaster Rd NE Unit 2220E Atlanta, GA	1.0	1.0	760	$1,199	$1.58	25d	1	0.85mi
2236 Plaster Rd NE Unit 2224E Atlanta, GA	1.0	1.0	760	$1,199	$1.58	5d	1	0.85mi
2331 Peachwood Cir NE Unit 2A Atlanta, GA	2.0	2.0	950	$1,625	$1.71	44d	1	0.90mi
2345 Peachwood Cir NE Atlanta, GA	1.0–2.0	1.0–2.0	1039	$1,243	$1.20	2d	29	0.91mi
2628 Northeast Expy NE Atlanta, GA	1.0	1.0	750	$1,000	$1.33	0d	1	1.06mi
2515 Northeast Expy Atlanta, GA	1.0–2.0	1.0–2.0	865	$1,088	$1.26	45d	12	1.14mi
2615 Oak Shadow Ln NE Atlanta, GA	1.0–2.0	1.0–2.0	1125	$1,196	$1.06	2d	10	1.30mi
2452 Chamblee Tucker Rd Chamblee, GA	2.0	1.0–2.0	908	$1,950	$2.15	44d	1	1.41mi
2202 Dering Cir NE Atlanta, GA	2.0	2.0	1015	$2,100	$2.07	25d	1	1.45mi

HOA detail condo

• Monthly dues: $255 · $3,060/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $147,900 Active 70 DOM
2. 2026-06-17
   days on market $147,900 Active 69 DOM
3. 2026-06-16
   days on market $147,900 Active 68 DOM
4. 2026-06-15
   days on market $147,900 Active 67 DOM
5. 2026-06-13
   days on market $147,900 Active 65 DOM
6. 2026-06-09
   days on market $147,900 Active 61 DOM
7. 2026-06-08
   days on market $147,900 Active 60 DOM
8. 2026-06-07
   days on market $147,900 Active 59 DOM
9. 2026-06-04
   days on market $147,900 Active 56 DOM
10. 2026-06-03
    days on market $147,900 Active 55 DOM
11. 2026-06-02
    days on market $147,900 Active 54 DOM
12. 2026-06-01
    days on market $147,900 Active 53 DOM
13. 2026-05-31
    days on market $147,900 Active 52 DOM
14. 2026-04-09
    listed $157,500 New 941-char remark

    Show marketing remark (941 chars)

    This is a stunningly renovated, move-in ready condo in an outstanding community with nice amenities and no rental restrictions. Nicest one-bedroom renovation and best value in Georgetown. Has not been lived in since the renovations. Georgetown of Atlanta is conveniently located close to the bustling municipalities of Brookhaven and Chamblee, with easy access to major highways, MARTA, and downtown Atlanta. Private community with pool, tennis court, gym, playground, laundry facilities, and more greenspace than you can imagine. Top-of-the-line renovation with all new kitchen and bath, wood-look ceramic tile flooring, with beautiful modern plumbing and light fixtures. Kitchen has all new gorgeous quartz counters, stainless steel appliances, tile backsplash and walls. There is plenty of storage in this home with a total of five large closets. Property is located in the back, with a beautiful and private view facing the wooded creek.

15. 2026-04-09
    listed $157,500 Active 941-char remark

    Show marketing remark (941 chars)

    This is a stunningly renovated, move-in ready condo in an outstanding community with nice amenities and no rental restrictions. Nicest one-bedroom renovation and best value in Georgetown. Has not been lived in since the renovations. Georgetown of Atlanta is conveniently located close to the bustling municipalities of Brookhaven and Chamblee, with easy access to major highways, MARTA, and downtown Atlanta. Private community with pool, tennis court, gym, playground, laundry facilities, and more greenspace than you can imagine. Top-of-the-line renovation with all new kitchen and bath, wood-look ceramic tile flooring, with beautiful modern plumbing and light fixtures. Kitchen has all new gorgeous quartz counters, stainless steel appliances, tile backsplash and walls. There is plenty of storage in this home with a total of five large closets. Property is located in the back, with a beautiful and private view facing the wooded creek.

16. 2026-03-31
    historical
17. 2025-09-29
    price $164,900
18. 2025-07-24
    price $169,500
19. 2025-07-10
    price $170,000
20. 2025-02-27
    price $175,000
21. 2025-02-06
    listed $190,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 16 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: $19,747
• − Mortgage interest: −$8,285
• − Property taxes: −$2,218
• − Insurance: −$740
• − Repairs & maintenance: −$1,580
• − Management: −$1,580
• − HOA: −$3,060
• − Depreciation: −$4,303
• Taxable loss: −$2,018
• Est. tax savings @ 24.0%: +$484
• After-tax cash flow: $759/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.

Condition & rehab AI · 12 photos

Excellent 95/100 None rehab

This move-in ready condo is in excellent condition with modern renovations and a great location.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both furniture — improves living space and adds value
• Both window treatments — enhances curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both furniture — improves living space and adds value ↑
• Both window treatments — enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-17.1% since first listed

8 events — show timeline

• 2026-04-09 Listed $157,500 FMLS
• 2026-04-09 Listed $157,500 GAMLS
• 2026-03-31 Listing Removed — GAMLS
• 2025-09-29 Price Changed $164,900 GAMLS
• 2025-07-24 Price Changed $169,500 GAMLS
• 2025-07-10 Price Changed $170,000 GAMLS
• 2025-02-27 Price Changed $175,000 GAMLS
• 2025-02-06 Listed $190,000 GAMLS