What do you think of Clayton County in ATL?

Question

Sooo I found a MFR Duplex in Clayton County off Old National in College Park that I liked. However, after reading many forum threads posts, I saw that many investors stay away from this county. I'm a newbie to this area so unfamiliar with the back happenings of what has caused many to stay away. My thinking is if seasoned investors stay away then this may not be a good buy for a newbie investor seeking to 'house hack' to consider as my first property. Your feedback is welcomed!

Kiet N. · Answer

I lived in Clayton County (ClayCo is the nickname down here) 12 years before moved up to Downtown Atl.After the school system lost its accreditation forcing the residents fleeing to other counties, the housing crash finished with a KO on the real estate market.I took a gamble, cashed out my retirement acct, and paid cash for 5 doors down here. All was rental ready with minimal cosmetic repairs. They are now my cash cows.Yes, some peoples scare of ClayCo, but that makes less competitions for investors who understand the local market.In general, you can get a decent SFH 3-4BR / 2BA for $50-100K - with a rent rate $800-$1200. many older homes is all brick.Most populated areas (older homes, high demand rental, closer to downtown Atl) : Forest Park, Morrow, Riverdale, Jonesboro Most expensive: Lake SpiveyMost rural (newer homes or homes w acreage): Hampton, Lovejoy, Rex, Ellenwood

Kiet N. · Answer

@Sharon DelorisLake City is a unique (to the point of funny) place. The city so small that does not have a zip code / post office (it uses 30260 which is Morrow) - not even a fire department there. However, the police department is very active ( in traffic particularly) - You have been warned !!!!Harper Mill Sub ( Waterford Ct & N. Lake Dr) is a community of townhouse (row house). Each building has 6 units and "individually own" with NO association - Yes, you read these right. Disclaim: I have a unit here.Clayton State University - now part of GA State- requires "most" of freshman stays on-campus dorm. Beside, the student housing demand is somewhat in low. I haven't rent to any students for the past 8 yrs. Most resident in the sub are regular blue collars or retirements.Ongoing rent rate is $800-$900Have to shop around for building ins. b/c some company won't deal with 6 units (my own experience)Hope these info is useful for you !!!!

Sharon M. · Answer

Hi Kiet N. - how are you familiar with Lake City area of Clayton County? The SFR is across the street from student housing called Laker Village. It appears the property, located in Harper Mill subdivision, is less than a mile from Clayton State. It’s a 2 bed/1 bath. My idea is to rent per room as a form of student housing to see a greater return. A few risks with renting to college student but I’m still researching it.

Rick Baggenstoss · Answer

I probably was one of the people who said don't buy in Clayton, but I'm more open to it now. Lot's of Atlantans are retreating to Clayton for more affordable housing. Clayton has lots. The renter pool has grown and improved. It's a close-in county with decent cash flow and good deals. Cherry picking there seems like a great idea to me.

Sharon M. · Answer

@Kiet N. Thanks! That information was very helpful. I completed the deed transfer about 2 weeks ago from the motivated seller, whom is now moved to her new home in South Carolina. I am going to rent it out in the price range you've specified as well. However, I am also open to lease option if I encounter a serious rent to own candidate during the process. My other properties are located in Decatur, Ga so this is a new location/area for me but I couldn't pass up on the opportunity. Thanks again!

John Teachout · Answer

I won't buy in Clayton because I think there are better opportunities. The City of Hampton actually has Hampton addresses in three different counties. (Henry, Clayton, Spalding) and we have purchased in Henry and Spalding but not Clayton. There is a marked difference in property values by just crossing the county line. I think for someone looking for buy/hold properties there's money to be made in Clayton, just not an area I'm interested in.

Bob B. · Answer

@Kiet N. That's great that you had the guts to buy when everybody wasn't. And you've shown that knowing your market pays off. Good luck.

Phillip Troutman · Answer

@Ashley Sanchez Hi Ashley. I am also interested in Clayton County. Did you end up investing in this area? If so what was your experience?

Manoj Sadasivan · Answer

@Ashley SanchezSure.

Ashley Sanchez · Answer

Manoj Sadasivan hi! Unfortunately, it went under contract before I could submit. I'm still seeking a duplex. Let me know if you or anyone you know have any move in ready or cosmetic rehab only duplexes