148 Glen Acres Ct · Belvedere Park, GA 30035

$140,000

3 bd · 2.5 ba · 1,518 sqft · Condo public records · 8 Days on market

Built 1972 $255/mo HOA · 14% of rent

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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).

• Cash flow +21.8/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully renovated townhome in the thriving Decatur neighborhood. This amazing 3 bedroom, 2.5 bath townhome features an inviting neutral paint throughout and Hardwood floors on the main level. The gourmet kitchen has ample cabinetry and counterspace, SS appliances and breakfast area. The true dining space is adjacent to the eat-in kitchen and flows seamlessly to the main living space, which is embellished with a beautiful fireplace and original built-in shelving on either side. If you love entertaining, the enclosed deck at the back is ideal for that. This spacious house has two secondary bedrooms upstairs with a hall guest bathroom. Finally after a long day retire into the primary suite with its own bathroom. Enjoy worry free living for years to come as the HOA takes care of the roof, exterior maintenance, water, trash, sewer, landscaping & insurance. Close proximity to I-285, I-20, shopping, restaurants, and only 15 minutes from downtown Atlanta. This affordable townhome is a rare gem and won't last long!

Key facts

• Enclosed deck
• Gourmet kitchen
• Renovated townhome

Tags

• RENOVATED TOWNHOME
• GOURMET KITCHEN
• ENCLOSED DECK
• ORIGINAL BUILT-IN SHELVING
• HOA TAKES CARE OF MAINTENANCE
• CLOSE PROXIMITY TO SHOPPING

Property features AI

Finance

• Other: Green energy-efficient appliances
• HOA & community: Monthly association fee of $255; HOA covers insurance, grounds and structure maintenance, pest control, reserves, sewer, termite, trash, and water; Community clubhouse; Community of 24 units

Exterior

• Parking: Assigned parking (2 total spaces)
• Utilities: Public water; Public sewer; Electric service (110 volts); Electricity, sewer, and water available
• Home design: Two levels; Condominium ownership; Composition roof; Brick/mortar foundation
• Construction: Vinyl siding construction; Resale condition; Other structures on site
• Exterior features: Enclosed patio/porch; Back yard fencing; Other exterior features

Interior

• Kitchen: Kitchen island; Other surface countertops; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Three upper-level bedrooms
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: Two full bathrooms; One half bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One factory-built fireplace; 2+ common walls (attached unit); Other interior features
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.1% 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: Snapfinger Elementary School (math 2% / reading 2%, grade F, #1,204 of 1,228 statewide, top 100%, 501 students, 100% FRL); Columbia High School (math 5% / reading 12%, grade F, #376 of 424 statewide, top 89%, 898 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 6% at this address vs 24% district-wide (-18 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 flat; 180 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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).
• This rent runs 32% of the median local income ($67k/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 $968 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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.
• Current owner paid $75k; list at $140k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.28% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.63%
• DSCR: 1.29
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.87% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.68×
• Total profit: $-12,474
• Equity at exit: $20,874

10-year hold

• IRR: -3.1%
• Equity multiple: 0.82×
• Total profit: $-7,162
• Equity at exit: $12,105

Cash invested: $39,200 (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 30035

• Home prices YoY: -33.8%
• Rents YoY: 0.9%
• Active inventory: 180
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,786 high
• Mortgage (P&I): −$734
• Tax from tax record: −$147 /mo · $1,761/yr
• Insurance: −$58
• HOA: −$255
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $217

Break-even live

Break-even rent $1,512

Max offer price $140,000

Occupancy floor 83%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4655 Glenwood Rd Decatur, GA	2.0–3.0	2.0	1318	$1,600	$1.21	19d	31	0.14mi
1905 Bodwin Pl Unit 1905 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	0.25mi
1998 Arthurs Court Dr Unit 1998 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	0.26mi
1998 Arthurs Court Dr Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	0.26mi
1908 Bodwin Pl Unit 1908F Decatur, GA	2.0	2.0	1144	$1,400	$1.22	43d	1	0.28mi
2002 Arthurs Court Dr Unit 2002D Decatur, GA	2.0	2.0	1144	$1,400	$1.22	43d	1	0.28mi
2007 Bodwin Pl Unit 2007 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	0.30mi
2165 Bodwin Pl Unit 2165E Decatur, GA	2.0	2.0	1144	$1,400	$1.22	43d	1	0.30mi
2163 Bodwin Pl Unit 2163D Decatur, GA	2.0	2.0	1144	$1,400	$1.22	43d	1	0.30mi
2011 Bodwin Pl Unit 2011 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	0.30mi
1910 Bodwin Pl Unit 1910C Decatur, GA	2.0	2.0	1298	$1,450	$1.12	43d	1	0.31mi
1914 Bodwin Pl Unit 1914A Decatur, GA	2.0	2.0	1298	$1,450	$1.12	43d	1	0.31mi
3025 Arthurs Ct Unit 3025 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	0.35mi
3017 Arthurs Ct Unit 3017 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	0.35mi
3019 Arthurs Ct Unit 3019 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	0.35mi
3021 Arthurs Ct Unit 3021 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	0.35mi
3023 Arthurs Ct Unit 3023 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	0.35mi
3015 Arthurs Ct Unit 3015 Decatur, GA	3.0	2.0	1493	$1,600	$1.07	43d	1	0.35mi
1590 Agape Way Decatur, GA	1.0–3.0	1.0–2.0	1022	$1,400	$1.37	43d	1	0.39mi
3000 Bedevere Cir Unit 3000F Decatur, GA	2.0	2.0	1144	$1,400	$1.22	43d	1	0.40mi
3010 Bedevere Cir Unit 3010A Decatur, GA	2.0	2.0	1144	$1,400	$1.22	43d	1	0.40mi
3014 Bedevere Cir Unit 3014D Decatur, GA	2.0	2.0	1144	$1,400	$1.22	43d	1	0.42mi
3141 Journal Ct Decatur, GA	3.0	2.5	1386	$1,895	$1.37	12d	1	0.45mi
2161 Bedevere Cir Unit 2161A Decatur, GA	2.0	2.0	1144	$1,400	$1.22	43d	1	0.46mi
1985 Glenwood Downs Dr Decatur, GA	3.0	2.5	1460	$1,700	$1.16	20d	1	0.47mi
4565 Covington Hwy Decatur, GA	2.0–3.0	1.5	1200	$1,439	$1.20	3d	8	0.47mi
1995 Glenwood Downs Dr Decatur, GA	3.0	2.0	1564	$1,750	$1.12	5d	1	0.50mi
200 High Court Pl Decatur, GA	1.0–3.0	1.0–2.0	1130	$1,705	$1.51	1d	12	0.53mi
3184 Delancy St Decatur, GA	3.0	2.5	1515	$1,800	$1.19	43d	1	0.54mi
1683 Vernon Blvd Decatur, GA	3.0	2.5	1515	$1,840	$1.21	18d	1	0.56mi
3711 Daisy Dr Decatur, GA	3.0	1.5	1240	$1,700	$1.37	43d	1	0.57mi
3854 Austin Park Ln Decatur, GA	3.0	2.5	1464	$1,800	$1.23	43d	1	0.57mi
3692 Larkspur Ter Decatur, GA	3.0	2.0	1100	$1,700	$1.55	43d	1	0.62mi
3121 Journal Ct Decatur, GA	3.0	2.5	1386	$1,895	$1.37	19d	1	0.69mi
3106 Calcutta St Decatur, GA	3.0	2.5	1386	$1,895	$1.37	43d	1	0.70mi
3096 Calcutta St Decatur, GA	3.0	2.5	1386	$1,895	$1.37	43d	1	0.70mi
1502 Vernon Blvd Decatur, GA	3.0	3.0	1515	$2,050	$1.35	24d	1	0.70mi
1473 Hyatt Cir Decatur, GA	3.0	2.5	1386	$2,050	$1.48	43d	1	0.72mi
4371 Glenwood Rd Decatur, GA	1.0–3.0	1.0–2.0	1100	$1,525	$1.39	1d	9	0.76mi
4371 Glenwood Rd Decatur, GA	1.0–3.0	1.0–2.0	1100	$1,525	$1.39	43d	6	0.76mi

HOA detail condo

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

Listing history 6 events

1. 2026-06-18
   days on market $140,000 Active 8 DOM
2. 2026-06-17
   days on market $140,000 Active 7 DOM
3. 2026-06-16
   days on market $140,000 Active 6 DOM
4. 2026-06-15
   days on market $140,000 Active 5 DOM
5. 2026-06-13
   remarks 679-char remark
6. 2026-06-13
   listed $140,000 Active 3 DOM

ⓘ 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: $1,761 · $147/mo
• Projected year-2 tax: $1,761 · $147/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 · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,430
• − Mortgage interest: −$7,842
• − Property taxes: −$1,761
• − Insurance: −$700
• − Repairs & maintenance: −$1,714
• − Management: −$1,714
• − HOA: −$3,060
• − Depreciation: −$4,073
• Taxable income: $565
• Est. tax owed @ 24.0%: −$136
• After-tax cash flow: $2,463/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

• County: Dekalb County · 782,738 people
• City population: 42,812
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 21,569
• Household income: $66,799
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1304.0

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 (91%)
• Race & ethnicity: Black 91% White 4% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1% Swiss 0%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 4% French/Haitian/Cajun 2%

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: ▼ -111.60%
• Current HPI: 218.8323
• Rent YoY: ▲ 0.87%
• 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

+198.5% since first listed

9 events — show timeline

• 2026-06-10 Listed $140,000 FMLS
• 2026-06-10 Listed $140,000 GAMLS
• 2025-10-15 Listing Removed — FMLS
• 2025-10-15 Listing Removed — GAMLS
• 2025-08-29 Listed $160,000 FMLS
• 2025-08-29 Listed $160,000 GAMLS
• 2025-07-29 Sold (Public Records) $75,000 Public Records
• 1986-03-21 Sold (Public Records) $49,900 Public Records
• 1980-09-25 Sold (Public Records) $46,900 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,761 · -21.1% YoY. Source: county tax records.