12493 Charlotte Dr · Alpharetta, GA 30004

$654,885

3 bd · 2.5 ba · 2,082 sqft · SingleFamily public records · 52 Days on market

Built 1988 0.46 ac lot $315/sqft · 16% above area Est $833k · 21% under

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +7.4/30.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

New to Market - Prime Alpharetta Opportunity! Welcome to 12493 Charlotte Drive, a uniquely positioned property in Alpharetta's coveted Crabapple area, just minutes from the charm of Downtown Crabapple's shops, restaurants, green space, festivals, and the Alpharetta dining districts. This classic home sits on a generous lot (~0.46 acre) and offers 3 bedrooms upstairs, including the primary suite, and 2.5 baths. The main living areas are ready for someone with vision - a great opportunity to put your personal touch on a property with incredible upside. Downstairs features a finished basement complete with its own kitchen and full bathroom, perfect for use as an in-law suite, guest space, or rental income - adding flexibility and value to the home. The attached garage has been converted into additional storage and living space and, if desired, can be converted back to a one-car garage to suit your lifestyle needs. The upstairs HVAC system was replaced in 2025, offering added value and peace of mind for the next owner. This home truly offers endless possibilities: * Bring your renovation vision and restore it to modern comfort * Hold for rental income with the separate basement suite * Or tear down and build your custom dream home on a deep lot surrounded by beautiful, multi-million dollar residences Location can't be beat - walking or biking distance to top-rated schools, a short drive to Avalon, Milton High School, Northwestern Middle, Crabapple Crossing Elementary, and easy commuting access. Whether you're an investor, renovator, or home buyer dreaming of a new build in one of Alpharetta's most desirable pockets - this is your chance. Don't miss it!

Key facts

• In-law suite
• Converted garage
• Finished basement

Tags

• FINISHED BASEMENT
• IN-LAW SUITE
• SEPARATE BASEMENT SUITE
• CONVERTED GARAGE
• TOP-RATED SCHOOLS
• WALKING OR BIKING DISTANCE

Property features AI

Exterior

• Parking: Drive-under garage; Detached garage with 1 garage space
• Utilities: Public water; Public sewer; 110-volt electric; Cable available; Electricity available; Natural gas available; Phone available; Water available; Sewer available
• Home design: Three or more levels; Drive-under main level; Resale property
• Construction: Wood siding construction; Shingle roof; Slab foundation; Built prior to resale (year not specified)
• Exterior features: Deck; Asphalt road frontage on a city street; No common walls

Interior

• Kitchen: Breakfast room; Pantry; Cabinets; Dishwasher; Disposal
• Bedrooms: Oversized master; Three upper-level bedrooms; One lower-level bedroom
• Flooring: Hardwood; Laminate; Tile
• Bathrooms: Three full bathrooms; One half bathroom; Master bath with double vanity, skylights, and vaulted ceiling
• Heating & cooling: Central heating (natural gas); Ceiling fans; Electric cooling
• Interior features: Crown molding; Double pane windows; Two fireplaces; Finished basement with exterior entry and walk-out access; Partial finished basement with finished bath; Attic and office spaces
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $655k.

Deal economics

• At list price, monthly cash flow is $-837 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $507k (22.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $398k (39.2% below list).
• Recommended offer: $398k (39.2% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 2.3% in Alpharetta — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#32 in GA, #4,064 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: commute F, cost of living F.
• Fulton County (suburban): math 49% / reading 53% proficiency, ranked #12 of 174 in GA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Crabapple Crossing Elementary School (math 79% / reading 82%, grade A+, #10 of 1,228 statewide, top 1%, 652 students, 4% FRL); Northwestern Middle School (math 64% / reading 74%, grade A, #17 of 470 statewide, top 4%, 1,143 students, 7% FRL); Milton High School (math 54% / reading 24%, grade F, #57 of 424 statewide, top 13%, 2,038 students, 11% FRL) — zoned schools average 7% FRL vs 41% district-wide (34 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 63% at this address vs 51% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Fulton County average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.8%/yr); 616 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 31% of the median local income ($156k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($635k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $181k; list at $655k implies a 262% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $398,458 (39.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.61% ✗
• Cap rate: 4.76%
• Cash-on-cash: -5.48%
• DSCR: 0.76
• GRM: 13.7

CMA / ARV

• ARV (median comp): $832,955
• List price: $654,885
• Delta: -21.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12390 Charlotte Dr	0.22mi	3/2.5	2,198 (+6%)	21mo	$800,000	$364	63
895 Mid Broadwell Rd	0.15mi	3/3.5	1,862 (-11%)	22mo	$1,250,000	$671	53
855 Rucker Rd	0.62mi	3/2.0	2,230 (+7%)	24mo	$900,000	$404	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.83% rent growth · sell at horizon

5-year hold

• IRR: -26.8%
• Equity multiple: 0.10×
• Total profit: $-164,367
• Equity at exit: $97,645

10-year hold

• IRR: -28.4%
• Equity multiple: -0.26×
• Total profit: $-231,498
• Equity at exit: $56,622

Cash invested: $183,368 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 30004

• Rents YoY: 1.8%
• Active inventory: 616
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $3,985 high
• Mortgage (P&I): −$3,434
• Tax from tax record: −$278 /mo · $3,337/yr
• Insurance: −$273
• HOA: −$0
• Vacancy / Maint / Mgmt: −$837
• Net cashflow: $-837

Break-even live

Break-even rent $5,045

Max offer price $506,945

Occupancy floor —

Sensitivity live

Price	-10% $-467	-5% $-652	+0% $-837	+5% $-1,023	+10% $-1,208
Rent	-10% $-1,152	-5% $-995	+0% $-837	+5% $-680	+10% $-523
Rate	-1.0pp $-508	-0.5pp $-671	base $-837	+0.5pp $-1,007	+1.0pp $-1,180

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $163,721
• Closing costs: $19,647
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12600 Marstrow Dr Unit B Alpharetta, GA	3.0	2.5	2190	$5,500	$2.51	3d	1	0.48mi
12600 Marstrow Dr Unit F Alpharetta, GA	3.0	2.5	2117	$4,500	$2.13	3d	1	0.48mi
1060 Crabapple Trce Alpharetta, GA	3.0	2.5	2400	$3,800	$1.58	0d	1	0.80mi
205 Kinderhill Ct Alpharetta, GA	4.0	3.0	2686	$4,200	$1.56	7d	1	0.94mi
205 Kinderhill Ct Alpharetta, GA	4.0	3.0	2686	$4,200	$1.56	19d	1	0.94mi
330 Carybell Ln Alpharetta, GA	3.0	2.5	2508	$5,000	$1.99	7d	1	1.04mi
1000 Lexington Farms Dr Alpharetta, GA	1.0–3.0	1.0–2.0	1176	$2,915	$2.48	0d	27	1.28mi

Listing history 20 events

1. 2026-06-21
   statusdays on market $654,885 Pending 52 DOM
2. 2026-06-18
   days on market $654,885 Active 51 DOM
3. 2026-06-17
   days on market $654,885 Active 50 DOM
4. 2026-06-16
   days on market $654,885 Active 49 DOM
5. 2026-06-15
   days on market $654,885 Active 48 DOM
6. 2026-06-13
   days on market $654,885 Active 46 DOM
7. 2026-06-09
   days on market $654,885 Active 42 DOM
8. 2026-06-08
   days on market $654,885 Active 41 DOM
9. 2026-06-07
   days on market $654,885 Active 40 DOM
10. 2026-06-04
    days on market $654,885 Active 37 DOM
11. 2026-06-03
    days on market $654,885 Active 36 DOM
12. 2026-06-01
    days on market $654,885 Active 34 DOM
13. 2026-05-31
    days on market $654,885 Active 33 DOM
14. 2026-04-28
    listed $661,500 New 1688-char remark

    Show marketing remark (1688 chars)

    New to Market - Prime Alpharetta Opportunity! Welcome to 12493 Charlotte Drive, a uniquely positioned property in Alpharetta's coveted Crabapple area, just minutes from the charm of Downtown Crabapple's shops, restaurants, green space, festivals, and the Alpharetta dining districts. This classic home sits on a generous lot (~0.46 acre) and offers 3 bedrooms upstairs, including the primary suite, and 2.5 baths. The main living areas are ready for someone with vision - a great opportunity to put your personal touch on a property with incredible upside. Downstairs features a finished basement complete with its own kitchen and full bathroom, perfect for use as an in-law suite, guest space, or rental income - adding flexibility and value to the home. The attached garage has been converted into additional storage and living space and, if desired, can be converted back to a one-car garage to suit your lifestyle needs. The upstairs HVAC system was replaced in 2025, offering added value and peace of mind for the next owner. This home truly offers endless possibilities: * Bring your renovation vision and restore it to modern comfort * Hold for rental income with the separate basement suite * Or tear down and build your custom dream home on a deep lot surrounded by beautiful, multi-million dollar residences Location can't be beat - walking or biking distance to top-rated schools, a short drive to Avalon, Milton High School, Northwestern Middle, Crabapple Crossing Elementary, and easy commuting access. Whether you're an investor, renovator, or home buyer dreaming of a new build in one of Alpharetta's most desirable pockets - this is your chance. Don't miss it!

15. 2026-04-28
    listed $661,500 Active 1763-char remark

    Show marketing remark (1688 chars)

    New to Market - Prime Alpharetta Opportunity! Welcome to 12493 Charlotte Drive, a uniquely positioned property in Alpharetta's coveted Crabapple area, just minutes from the charm of Downtown Crabapple's shops, restaurants, green space, festivals, and the Alpharetta dining districts. This classic home sits on a generous lot (~0.46 acre) and offers 3 bedrooms upstairs, including the primary suite, and 2.5 baths. The main living areas are ready for someone with vision - a great opportunity to put your personal touch on a property with incredible upside. Downstairs features a finished basement complete with its own kitchen and full bathroom, perfect for use as an in-law suite, guest space, or rental income - adding flexibility and value to the home. The attached garage has been converted into additional storage and living space and, if desired, can be converted back to a one-car garage to suit your lifestyle needs. The upstairs HVAC system was replaced in 2025, offering added value and peace of mind for the next owner. This home truly offers endless possibilities: * Bring your renovation vision and restore it to modern comfort * Hold for rental income with the separate basement suite * Or tear down and build your custom dream home on a deep lot surrounded by beautiful, multi-million dollar residences Location can't be beat - walking or biking distance to top-rated schools, a short drive to Avalon, Milton High School, Northwestern Middle, Crabapple Crossing Elementary, and easy commuting access. Whether you're an investor, renovator, or home buyer dreaming of a new build in one of Alpharetta's most desirable pockets - this is your chance. Don't miss it!

16. 2026-04-27
    historical
17. 2026-04-27
    historical
18. 2026-03-25
    listed $675,000 New
19. 2026-03-24
    listed $675,000 Active
20. 1999-05-12
    soldstatus $181,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $3,337 · $278/mo
• Projected year-2 tax: $6,025 · $502/mo
• Expected delta: +$2,688/yr (+$224/mo · 80.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,815
• − Mortgage interest: −$36,684
• − Property taxes: −$3,337
• − Insurance: −$3,274
• − Repairs & maintenance: −$3,825
• − Management: −$3,825
• − Depreciation: −$19,051
• Taxable loss: −$22,182
• Est. tax savings @ 24.0%: +$5,324
• After-tax cash flow: $-4,726/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fulton County
• NCES district ID: 1302280
• Math proficiency: 49% ▼ -2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $68,035
• Composite: 45.33/100
• National rank: #2640
• State rank: #12 of 174 in GA

Livability — Alpharetta

• Score: 75/100
• State rank: #32
• US rank: #4064

Category grades

Amenities C+ Commute F Cost of living F Crime B Employment A+ Housing A+ Health & safety B- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alpharetta, GA
• County: Fulton County · 1,094,430 people
• City population: 62,931
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 68,707
• Household income: $156,100
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1108.0

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 1,203,707 people
• By 2030: 1,299,706 · +8.0%
• By 2040: 1,488,256 · +23.6%
• By 2050: 1,664,580 · +38.3%
• By 2075: 2,036,072 · +69.2%
• By 2100: 2,222,402 · +84.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 53% Asian 19% Hispanic / Latino 12% Two or more races 10% Black 10%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 28% · Canada, China, Jamaica
• Languages at home: 67% English-only · Spanish 10% Other Indo-European 9% Other Asian/Pacific 8%

Political lean MEDSL · Fulton

• 2024 margin: Solid D (+44.9) · D 71.9% · R 27.0% · Other 1.1%
• 2008→2024 swing: +9.8pp toward D · 2008: 35.0pp · 2024: 44.9pp
• All cycles: 2024: D+44.9 2020: D+46.4 2016: D+42.1 2012: D+29.6 2008: D+35.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -338.46%
• Current HPI: 278.6493
• Rent YoY: ▲ 1.83%
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

+261.8% since first listed

9 events — show timeline

• 2026-05-30 Price Changed $654,885 GAMLS
• 2026-05-30 Price Changed $654,885 FMLS
• 2026-04-28 Listed $661,500 FMLS
• 2026-04-28 Listed $661,500 GAMLS
• 2026-04-27 Listing Removed — FMLS
• 2026-04-27 Listing Removed — GAMLS
• 2026-03-25 Listed $675,000 GAMLS
• 2026-03-24 Listed $675,000 FMLS
• 1999-05-12 Sold (Public Records) $181,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $3,337 · +3.1% YoY. Source: county tax records.