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Active92 days listed

3421 Rainbow Drive, Decatur, GA 30034

  • 6bd
  • 5ba
  • 7,677SF
  • 0.57ac lot

Single-family homeRainbow Estates

List price

$414,000

$54/SF list

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FMLS IDXFMLS #7811502 · Listing Provided By Real Broker, LLC. · 770-826-1805 · Listing agent Rachael King

Location

3421 Rainbow Drive, Decatur GA 30034

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About this home

Calling all investors and savvy buyers! Don't miss this spacious four-sided brick home with a full basement apartment offering excellent income producing potential. The home features generously sized rooms throughout, tall ceilings, site-finished hardwood floors, and extensive molding that showcase its original craftsmanship. The open kitchen includes an island with a breakfast bar and a bright bay window overlooking the backyard. The oversized primary suite offers a large walk-in closet and a spacious bathroom, while a secondary bedroom features its own private ensuite bath. The finished basement apartment includes two bedrooms, a full kitchen, living area, and full bathroom ideal for rental income, multigenerational living, or guests. The property also offers two separate parking areas with access from different sides of the home, allowing convenient dedicated parking for the basement apartment. This home is ready for updates and repairs but offers solid construction, a versatile floor plan, and exceptional space. With the right vision and improvements, this property presents a fantastic opportunity to build equity or create a strong investment.

How this list price compares in Decatur

Figures are list prices from current FMLS IDX inventory (Active, Active Under Contract and Pending), not sales prices or appraisals.

Home facts

Property type
Single-family home
Status
Active
Bedrooms
6
Full baths
5
Living area
7,677 SF
Lot size
0.57 acres
Year built
1966
Levels
One
Main-level bedrooms
4
Garage spaces
2
Parking
Attached, Driveway, Garage, Garage Door Opener, Garage Faces Side, Kitchen Level, Level Driveway
Basement
Daylight, Driveway Access, Exterior Entry, Finished, Finished Bath, Full
Style
Ranch, Traditional
Construction
Brick 4 Sides
Roof
Shingle
Flooring
Carpet, Hardwood, Laminate, Tile
Heating
Natural Gas, Zoned
Cooling
Ceiling Fan(s), Central Air
Fireplaces
1
Appliances
Dishwasher, Electric Oven, Gas Cooktop, Gas Water Heater, Microwave
Lot
Back Yard, Corner Lot, Front Yard
HOA
No
Annual tax
$1,533 (2025)
County
DeKalb

Assigned schools

As reported in the listing. Verify with the school district.

Payment estimate

Estimate the monthly payment

Prefilled with the list price of $414,000 and this week's average rate. Change anything to see your number.

Loan type
Estimated monthly payment

$2,968/mo

Principal and interest
$2,560
Property tax
$128
Home insurance
$125
Mortgage insurance
$155
Loan amount
$372,600
Cash down
$41,400

This is an estimate only. Not a lender, not a loan offer and not a rate quote. Rates: Freddie Mac PMMS weekly average for 2026-10-22: 30-yr 7.32%, 15-yr 6.68%. Tax uses the annual tax amount in the listing; insurance assumes $1,500 a year. Conventional adds 0.5% a year mortgage insurance under 20% down; FHA uses 3.5% minimum down, a 1.75% upfront premium financed and 0.55% a year MIP; VA adds a 2.15% funding fee financed under 5% down and no monthly MI. Talk to a licensed lender for a real quote.

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Questions about this home

How do I schedule a showing of this home?

Use the "Ask about this home" form on this page and include the days and times that work for you. Jeff Crowe will follow up to set up a showing.

How do I get more information about this listing?

Send your question through the form on this page. Listing details come from FMLS and are provided by Real Broker, LLC., so confirm them before making an offer.

Is this home still available?

This page shows the status reported in FMLS (Active) as of the last update. Status can change quickly, so ask through the form to confirm before you tour.

How is the monthly payment estimate calculated?

It uses the list price, an average mortgage rate, the tax amount in the listing (or an estimated tax rate when none is given), estimated insurance and any HOA dues in the listing. It is an estimate only, not a loan offer. Talk to a licensed lender for a real quote.

Where can I see similar homes for sale in Decatur?

See the similar homes section on this page, or browse all homes for sale in Decatur, GA.

Beyond homes

Also exploring Georgia investment real estate?

Jeff Crowe is a local, full-service agent with CENTURY 21 The Avenues who also works with buyers and sellers of apartment buildings, churches, commercial property and land across Georgia. The pages below are other property types and investor research, separate from this home listing.

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