501 Carlton Rd Unit 1 D · Palmetto, GA 30268

$84,900

2 bd · 1.5 ba · 1,152 sqft · Condo public records · 17 Days on market

Built 1975

---

Why this score? — see what drove the B 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Two Bedroom Condo in Heatherwood Condominiums- Move in ready or Renovation project. This unit is clean and immediately available. The property fits two buyer profiles: - Owner Occupants: A budget friendly entry point to the market. The interior is clean, features carpet throughout and provides a solid canvas for cosmetic updates. - Investors: A straightforward opportunity to fix and flip. (No renters allowed)

Key facts

• Built 1975
• Listed 16 days

Property features AI

Finance

• Other: Located in Heatherwood Condominiums, Palmetto, GA; Unit number: 1 D
• HOA & community: Homeowners association with fees that cover facilities, insurance, structure and grounds maintenance, management, and trash; Street lights in the community

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Condominium (residential); Two levels; Resale property
• Construction: Built in 1975; Brick and vinyl siding exterior; Composition roof; Slab foundation
• Exterior features: Deck; Level lot

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom (total 1.5 bathrooms)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Family room; Breakfast room off the kitchen
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.4% vs local median 3.6% in Palmetto — 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 61/100 on livability (#329 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute 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: Palmetto Elementary School (math 22% / reading 27%, grade F, #753 of 1,228 statewide, top 64%, 358 students, 100% FRL); Bear Creek Middle School (math 17% / reading 26%, grade F, #339 of 470 statewide, top 72%, 1,108 students, 100% FRL); Creekside High School (math 30% / reading 24%, grade F, #160 of 424 statewide, top 38%, 1,768 students, 100% FRL) — zoned schools average 100% FRL vs 41% district-wide (59 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 51% district-wide (-27 pts) — the specific schools serving this property underperform the Fulton County average; the district grade overstates school quality for this exact location.
• Market conditions: 222 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $85k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,626 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.04% ✓
• Cap rate: 15.35%
• Cash-on-cash: 32.36%
• DSCR: 2.44
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 27.5%
• Equity multiple: 2.14×
• Total profit: $27,190
• Equity at exit: $12,659

10-year hold

• IRR: 35.1%
• Equity multiple: 4.23×
• Total profit: $76,715
• Equity at exit: $7,341

Cash invested: $23,772 (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 30268

• Home prices YoY: -22.1%
• Active inventory: 222
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,733 high
• Mortgage (P&I): −$445
• Tax from tax record: −$23 /mo · $277/yr
• Insurance: −$35
• HOA est. from 2 same-building comps: −$224
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $641

Break-even live

Break-even rent $921

Max offer price $84,900

Occupancy floor 58%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
640 Main St Palmetto, GA	2.0	1.0	1066	$1,875	$1.76	44d	1	0.38mi
660 Magnolia Cir Palmetto, GA	3.0	2.5	1386	$1,965	$1.42	44d	1	0.40mi
635 Magnolia Cir Palmetto, GA	3.0	2.5	1386	$1,690	$1.22	44d	1	0.46mi
553 Magnolia Cir Palmetto, GA	3.0	2.5	1386	$1,845	$1.33	22d	1	0.48mi
552 Magnolia Cir Palmetto, GA	3.0	2.5	1386	$1,690	$1.22	24d	1	0.49mi
513 Center St Palmetto, GA	2.0	1.0	850	$1,250	$1.47	5d	1	0.62mi
165 Pine Ter Unit 165 Palmetto, GA	2.0	1.0	800	$1,250	$1.56	44d	1	0.72mi
513 Toombs St Unit 5 Palmetto, GA	2.0	1.5	1200	$1,350	$1.12	24d	1	0.78mi
545 Carlton Pointe Dr Palmetto, GA	2.0	2.0	1073	$1,375	$1.28	24d	1	0.87mi
222 Taylor Cir Palmetto, GA	2.0	2.0	1500	$800	$0.53	19d	1	1.17mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $84,900 Active 17 DOM
2. 2026-06-17
   days on market $84,900 Active 16 DOM
3. 2026-06-16
   days on market $84,900 Active 15 DOM
4. 2026-06-15
   statusdays on market $84,900 Active 14 DOM
5. 2026-06-13
   days on market $84,900 New 12 DOM
6. 2026-06-09
   days on market $84,900 New 8 DOM
7. 2026-06-08
   days on market $84,900 New 7 DOM
8. 2026-06-07
   days on market $84,900 New 6 DOM
9. 2026-06-04
   days on market $84,900 New 3 DOM
10. 2026-06-03
    days on market $84,900 New 2 DOM
11. 2026-06-02
    remarks 415-char remark
12. 2026-06-02
    listed $84,900 New 1 DOM

ⓘ 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: $277 · $23/mo
• Projected year-2 tax: $781 · $65/mo
• Expected delta: +$505/yr (+$42/mo · 182.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,792
• − Mortgage interest: −$4,756
• − Property taxes: −$277
• − Insurance: −$424
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − HOA: −$2,688
• − Depreciation: −$2,470
• Taxable income: $6,850
• Est. tax owed @ 24.0%: −$1,644
• After-tax cash flow: $6,050/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 — Palmetto

• Score: 61/100
• State rank: #329
• US rank: #17351

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmetto, GA
• County: Fulton County · 1,094,430 people
• City population: 10,874
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 10,874
• Household income: $91,349
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 206.0

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 0.67)
• Race & ethnicity: Black 42% White 36% Hispanic / Latino 18% Two or more races 5%
• Hispanic origin (detail): Mexican 13% Puerto Rican 3%
• Common ancestry: Iranian 1% Serbian 1% Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 84% English-only · Spanish 14% Russian/Polish/Slavic 1%

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: ▼ -73.29%
• Current HPI: 258.4993
• Rent YoY: —
• 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

+197.9% since first listed

3 events — show timeline

• 2026-06-01 Listed $84,900 GAMLS
• 1994-12-28 Sold (Public Records) $40,000 Public Records
• 1985-07-17 Sold (Public Records) $28,500 Public Records

Property tax history

+1.0%/yr

Latest (2025): $277 · +507.8% YoY. Source: county tax records.