2416 Peachwood Cir NE #9

Chamblee, GA 30345

$150,000D

2 bd · 3.5 ba · 1,116 sqft · Built 1998 · Condo · Pending · 128 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,736/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$457
• HOA: −$300
• Vac / Maint / Mgmt: −$364
• Net cashflow: $-173/mo
• Annual: $-2,072/yr
• Cap rate: 4.91%
• Cash-on-cash: -4.93%
• DSCR: 0.78
• 1% rule: 1.16%
• Cash to close: $42,000

Investor read

• This is a 2-bed/3.5-bath condo listed at $150k.
• At list price, monthly cash flow is $-173 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (20.3% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 128 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (20.3% below list) — sets the bar for cash-flow.
• 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.
• 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-, crime F, amenities 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: Hawthorne Elementary School (math 17% / reading 17%, grade F, #936 of 1,228 statewide, top 79%, 347 students, 60% FRL); Henderson Middle School (math 23% / reading 32%, grade F, #268 of 470 statewide, top 57%, 1,411 students, 56% FRL); Lakeside High School (math 27% / reading 34%, grade F, #128 of 424 statewide, top 30%, 2,141 students, 43% FRL).
• Watch-outs: property tax is 3.2% of price.
• Market conditions: Rents rising (+2.3%/yr); 151 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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.
• 11 sale attempts since 2y ago; this cycle's ask has dropped $18k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.9% 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.

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 128 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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 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?