Exceptional Multi-Property Investment Opportunity – Prime Assemblage on Covington Highway Seize a rare and highly versatile investment opportunity with this unique assemblage of three contiguous properties, collectively offering 4.62 acres of valuable real estate with approximately 40 feet of frontage along Covington Highway. This portfolio is ideally suited for a variety of development or renovation strategies, from enhancing the existing homes to constructing a small residential community. Its strategic location just minutes from Highway 285 ensures excellent connectivity and long-term value growth. Property Breakdown: Lot 1:A spacious 4-bedroom, 3-bathroom home encompassing 2,357 square feet of finished living space, plus an additional 391 square foot unfinished basement—perfect for customization or expansion. The home sits on a generously sized 0.66-acre lot, offering ample yard space and privacy. Lot 2:A charming 3-bedroom, 2-bathroom residence featuring 1,891 square feet of interior space, along with a 300 square foot unfinished basement. Set on a substantial 1.39-acre lot, this property offers both comfort and future development potential. Lot 3:A cozy 3-bedroom, 1-bathroom home offering 1,264 square feet of living area, situated on a sprawling 2.57-acre lot. Ideal for personal use, rental income, or as a candidate for redevelopment. Total Combined Acreage: 4.62 Acres With a flexible layout and diverse structures, this assemblage offers multiple paths for return on investment: Renovate and lease existing residences Develop a boutique housing enclave Subdivide and sell parcels individually Hold for long-term appreciation in a rapidly developing corridor Key Highlights: Prime location on Covington Highway Easy access to major thoroughfares, especially I-285 Approximately 40 feet of road frontage Flexible zoning potential (buyer to verify) Seller is open to offers on individual lots—see additional listings #10488862 and #10488863 for separate details. This is a compelling acquisition for investors, developers, or visionaries seeking a strategically located, multi-parcel property with excellent upside potential.
Active
$320,000
5181 Covington Hwy, Decatur, GA 30035
3beds
1,264sqft
Est.:
Single Family Residence, Residential
Built in 1935
2.6 Acres Lot
$-- Zestimate®
$253/sqft
$-- HOA
What's special
- 279 days |
- 75 |
- 3 |
Zillow last checked: 8 hours ago
Listing updated: September 17, 2025 at 07:53am
Listing Provided by:
KIMBERLY D BRANCH,
Keller Williams Realty Atl Partners,
ERIC RENDER,
Keller Williams Realty Atl Partners
Source: FMLS GA,MLS#: 7549946
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 3
Rooms
- Room types: Family Room
Primary bedroom
- Features: None
- Level: None
Bedroom
- Features: None
Primary bathroom
- Features: None
Dining room
- Features: None
Kitchen
- Features: Breakfast Room, Cabinets Other, Country Kitchen, Eat-in Kitchen
Heating
- Central
Cooling
- Central Air
Appliances
- Included: Dishwasher, Gas Water Heater, Microwave
- Laundry: Common Area
Features
- Entrance Foyer, High Speed Internet, Other
- Flooring: Carpet, Ceramic Tile, Hardwood
- Windows: None
- Basement: None
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 1,264
- Total interior livable area: 1,264 sqft
- Finished area above ground: 1,264
- Finished area below ground: 0
Video & virtual tour
Property
Parking
- Parking features: Parking Pad
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: None
Features
- Levels: One
- Stories: 1
- Patio & porch: None
- Exterior features: None, No Dock
- Pool features: None
- Spa features: None
- Fencing: None
- Has view: Yes
- View description: Trees/Woods
- Waterfront features: None
- Body of water: None
Lot
- Size: 2.6 Acres
- Features: Back Yard, Wooded
Details
- Additional structures: None
- Parcel number: 15 161 02 002
- Other equipment: None
- Horse amenities: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Bungalow,Cottage
- Property subtype: Single Family Residence, Residential
Materials
- Stone
- Foundation: Slab
- Roof: Composition
Condition
- Resale
- New construction: No
- Year built: 1935
Utilities & green energy
- Electric: 220 Volts
- Sewer: Septic Tank
- Water: Public
- Utilities for property: Cable Available, Electricity Available, Natural Gas Available
Green energy
- Energy efficient items: None
- Energy generation: None
Community & HOA
Community
- Features: None
- Security: None
- Subdivision: None
HOA
- Has HOA: No
Location
- Region: Decatur
Financial & listing details
- Price per square foot: $253/sqft
- Tax assessed value: $147,400
- Annual tax amount: $2,438
- Date on market: 3/22/2025
- Cumulative days on market: 280 days
- Listing terms: Cash,Conventional,FHA,VA Loan
- Ownership: Fee Simple
- Electric utility on property: Yes
- Road surface type: Asphalt
Estimated market value
Not available
Estimated sales range
Not available
$1,692/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 3/29/2025 | Listed for sale | $320,000+156%$253/sqft |
Source: | ||
| 9/3/2002 | Sold | $125,000$99/sqft |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $2,999 +7.1% | $58,960 +5.9% |
| 2023 | $2,799 +32.2% | $55,680 +35.4% |
| 2022 | $2,118 +36.1% | $41,120 +45.2% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$1,906/mo
Principal & interest
$1546
Property taxes
$248
Home insurance
$112
Climate risks
Neighborhood: 30035
Nearby schools
GreatSchools rating
- 4/10Canby Lane Elementary SchoolGrades: PK-5Distance: 1.2 mi
- 5/10Mary Mcleod Bethune Middle SchoolGrades: 6-8Distance: 0.2 mi
- 3/10Towers High SchoolGrades: 9-12Distance: 2.3 mi
Schools provided by the listing agent
- Elementary: Canby Lane
- Middle: Mary McLeod Bethune
- High: Towers
Source: FMLS GA. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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