1261 Lavista Rd NE Unit K3

North Druid Hills, GA 30324

$300,000F

3 bd · 2.0 ba · 1,650 sqft · Built 1966 · SingleFamily · Active · 125 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,631/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$500
• HOA: −$1,180
• Vac / Maint / Mgmt: −$553
• Net cashflow: $-1,175/mo
• Annual: $-14,095/yr
• Cap rate: 1.59%
• Cash-on-cash: -16.78%
• DSCR: 0.25
• 1% rule: 0.88%
• Cash to close: $84,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $300k. Condition is rated good.
• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (56.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (12.3% below list).
• It's been on market 125 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $130k (56.7% 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 $9k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#5 in GA, #882 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing 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: Briar Vista Elementary School (math 24% / reading 34%, grade F, #633 of 1,228 statewide, top 54%, 446 students, 59% FRL); Druid Hills Middle School (math 22% / reading 37%, grade F, #249 of 470 statewide, top 55%, 956 students, 46% FRL); Druid Hills High School (math 12% / reading 22%, grade F, #277 of 424 statewide, top 67%, 1,358 students, 37% FRL) — zoned schools average 47% FRL vs 68% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: HOA is 45% of rent.
• Market conditions: Rents flat; 445 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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.
• 4 sale attempts since 3y 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.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 1.6% vs local median 2.2% in North Druid Hills — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 34% of the median local income ($92k/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 125 days. Have you received any prior offers? Is the seller open to a 57% concession, seller financing, or rate buy-down credit?
• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 A-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?