Decatur Area

[Mike Anderson]

I am seeing a lot of properties for sale in Decatur area, lots of multifamilies too. It seems like every week i see a few more. Is there something going on in that area that everyone is cashing out? I look at some the deals and they seem good, but with so many i feel like I might not know something about the area. What are your thoughts?

[Rick Baggenstoss]

@Mike Anderson  Great information so far.  I would map out a grid over Decatur.  The City of Decatur is a market unto itself.  Unincorporated Dekalb areas of Decatur need to be further analyzed.

30030 Unincorporated -- Much nicer area with investment houses ranging from $140k - $200k and ARV from $340k to $650k. Good for flips if you're capable of a high end rehab. Too close to Memorial and you're gambling (e.g. Woodfern). Good area for cash flow neutral holds and appreciation (high W2 investors).

30317 - North of Memorial, East of Candler - Nice pocket being redeveloped/rehabbed. $150k - $230k investor prices with $350k - $550k ARV. Flips seem to be best.

30032 -  You need to know where Memorial, Glenwood, Candler, Columbia, and McAfee are.  Typically prices go down as you go south and east or get close to or on any of these major roads.  There are many exceptions to this rule of thumb.  Some of these properties *can* feed into a top tier charter school. Most can not.  IMO, great for rentals.  Ok for flips.  

30034 -  Newer, larger cheaply built houses.  Long way to go.  Potentially good income generating properties.