3646 Rainbow Drive

Closed 4/11/24

Sold

Last Sold Price

$255,000

10 beds4 baths2,497 sqft

3646 Rainbow Dr, Decatur, GA 30034

Single FamilyProperty Type

0.4 acresLot Size

1967Year Built

$102/sq ftPrice per sq ft

Description

BEHOLD this rare opportunity to purchase a seasoned PadSplit coliving home with optional turnkey management. This fully occupied rental is conveniently located minutes from major employers, including Hartsfield-Jackson International Airport. Its proximity to I-20 / I-285 ensures superb connectivity for its occupants. The home is leased to one tenant, PadSplit, which hosts the property on their platform. PadSplit is a workforce housing solution that not only helps members save money and live closer...BEHOLD this rare opportunity to purchase a seasoned PadSplit coliving home with optional turnkey management. This fully occupied rental is conveniently located minutes from major employers, including Hartsfield-Jackson International Airport. Its proximity to I-20 / I-285 ensures superb connectivity for its occupants. The home is leased to one tenant, PadSplit, which hosts the property on their platform. PadSplit is a workforce housing solution that not only helps members save money and live closer to work but provides a great investment for its owner. All members are professionally screened by PadSplit, required to pass a criminal background check and undergo income verification. PadSplit handles inbound requests from members and enforces house rules. One rent payment is direct-deposited into the owner's bank account based on the home's previous month's performance. Sold with an optional top-rated Superhost who coordinates cleaning and repairs, this property is ideal for any investor, regardless of their capacity. Contact us today for preferred lenders if you need financing. If PadSplit is new to you, please Google 'PadSplit' to learn more about this game-changing affordable housing solution before calling. Part of a portfolio, contact the listing agent if you are interested in purchasing multiple properties with a similar setup. OFFER REQUIREMENTS: Property sold as-is, do all due diligence before submitting an offer, $7,500 EM, the closing attorney must be the Fryer Law Firm

Listed by: Josh Stanton • Keller Williams Realty Metro Atlanta 404-564-5560

Listing closed: 04/11/2024 12:00 AM • Source: FMLS, MLS#: 7349389

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Location

Listing Courtesy of Keller Williams Realty Metro Atlanta, Josh Stanton

Sold By Keller Williams Realty Metro Atlanta, Brandon Beamer

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$1,798 per month

30 year fixed, 7.03% Interest

Principal and Interest

$1,361

Property Taxes

$436

HOA Dues

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Property Information for 3646 Rainbow Drive

Property Details

Taxes: $5,235 / year
MLS Type: Residential / Single Family Residence
County: DeKalb County
Subdivision Complex: Kings Park
Architectural Style: Ranch
Exterior: None
Num Of Garage Spaces: 2
Num Of Parking Spaces: 0
Parking Features: Driveway, Garage
Property Attached: No
Waterfront Features: None

Building Information

Stories: 2
Year Built: 1967
Lot Size: 0.40 AC / 17,424 SF

Summary

Location and General Information

Community Features: None
Directions: Take I-20E to Exit 66 towards Columbia Drive, Turn right on Columbia Dr, Turn left on to Rainbow Dr, property on left hand side.

Lake Name: None
View: Other
Coordinates: -84.242032, 33.709656

Taxes and HOA Information

Parcel Number: 15 124 03 005
Tax Year: 2023

Master Association Fee: $.00
HOA Rent Restrictions: No
Association: No
Block: A
Tax Legal Description: 0
Tax Lot: 5

School Information

School Bus Route Elem: Yes
School Bus Route High: Yes

School Bus Route Middle: Yes
Elementary School: Rainbow
High School: Southwest Dekalb
Middle School: Chapel Hill - Dekalb

Virtual Tour

Virtual Tour Link PP: https://www.propertypanorama.com/3646-Rainbow-Drive-Decatur-GA-30034/unbranded

Parking

Open Parking: Yes

Agent

Payment and Rate

Concessions Amt: $.00

Interior and Exterior Features

Interior Features

Cooling: Central Air
Heating: Natural Gas

Appliances: Electric Cooktop, Electric Oven, Microwave, Refrigerator
Basement: Finished
Fireplace Features: None
# of Fireplaces: 0
Flooring: Ceramic Tile, Hardwood
Interior Features: Other
Levels/Stories: Two
Other Equipment: None
Window Features: None
Bedroom Features: Other
Diningroom Features: None
Kitchen Features: Cabinets Stain, Stone Counters
Master Bathroom Features: Shower Only
Foundation: Brick/Mortar
Main Bedrooms: 7
Total Half Baths: 0
Bathrooms Total Interger: 4
Main Full Baths: 3
Additional Rooms: Other
Bathrooms Total Decimal: 4.00

Exterior Features

Accessibility Features: None
Construction Materials: Brick 4 Sides

Dock: None
Fencing: None
Horse Amenities: None
Patio And Porch Features: Patio
Pool Features: None
Road Surface Type: Asphalt
Roof Type: Composition, Shingle
Security Features: None
Spa Features: None
Laundry Features: In Basement
Pool Private: No
Road Frontage Type: City Street
Other Structures: None

Property

Utilities

Sewer: Public Sewer
Utilities: Sewer Available

Water Source: Public
Electric: 110 Volts

Property and Assessments

Assumable: No
FHA Condo Approval: No

Home Warranty: No
Proposed Financing: Cash, Conventional
Plat Book: 42
Plat Page: 44
Property Condition: Resale
Representative of Property: No
Possession: Close Of Escrow

Green Features

Green Energy Efficient: None
Green Energy Generation: None

Lot Information

Section/GMD: 0
Above Grade Finished Area: 2497.0

Below Grade Finished Area: 0.0
SqFt Source: Appraiser
Square Footage: 2497.0
Common Walls: No Common Walls
Land lot: 124
Lot Features: Back Yard, Front Yard
Acreage Source: Public Records
Lot Size Dimensions: 100x172x98x146
Below Grade Unfinished Area: 0.0
Waterfront Footage: 0.0

Multi Family

Multi-Family Information

# Of Units In Community: 0
Number of Units To Be Built: 0

Income & Expenses Information

Swim/Tennis Fee: $0

Rental

Rent Information

Terms: Conventional
Land Lease: No

Occupant Types: Tenant

Property History for 3646 Rainbow Drive

Date	Event & Source	Price	Appreciation
Apr 11, 2024	Sold (Public Record) Public Record #1534026946	$255,000	+5.1% / yr
May 20, 2021	Sold (Public Record) Public Record #1462350220	$221,000	—

Date	Event & Source	Price
04/11/2024	Sold (Public Record) Public Record #1534026946	$255,000 +5.1% / yr
05/20/2021	Sold (Public Record) Public Record #1462350220	$221,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public records

3646 Rainbow Drive

Beds

Baths

Total Finished SqFt

2,601 SqFt

Above Grade Finished SqFt

2,103 SqFt

Finished Basement SqFt

498 SqFt

Unfinished Basement SqFt

609 SqFt

Schools near 3646 Rainbow Drive

This home is within Dekalb County School District.


Rating	School	Type	Grades	Distance
4/10	Columbia Elementary School	Public - Serves this home	PK to 5	1.2 mi
3/10	Columbia Middle School	Public - Serves this home	6 to 8	1.1 mi
2/10	Columbia High School	Public - Serves this home	9 to 12	1.4 mi
9/10	Wadsworth Magnet School For High Achievers	Public - Choice school	4 to 8	2.7 mi
3/10	Dekalb Preparatory Academy Charter	Charter - Choice school	K to 8	2.9 mi
6/10	Narvie Harris Elementary School	Public - Choice school	PK to 5	3.1 mi
NR	Greenforest Mccalep Christian Academy	Private - Nearby school	PK to 12	0.9 mi
NR	Rainbow Park Baptist Church School	Private - Nearby school	PK to 3	0.9 mi


Rating	School	Distance
4/10	Columbia Elementary School PublicPK to 5 Serves this home	1.2 mi
3/10	Columbia Middle School Public6 to 8 Serves this home	1.1 mi
2/10	Columbia High School Public9 to 12 Serves this home	1.4 mi
9/10	Wadsworth Magnet School For High Achievers Public4 to 8 Choice school	2.7 mi
3/10	Dekalb Preparatory Academy Charter CharterK to 8 Choice school	2.9 mi
6/10	Narvie Harris Elementary School PublicPK to 5 Choice school	3.1 mi
NR	Greenforest Mccalep Christian Academy PrivatePK to 12 Nearby school	0.9 mi
NR	Rainbow Park Baptist Church School PrivatePK to 3 Nearby school	0.9 mi

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.