1505 Camelot Dr · South Fulton, GA 30349

$35,990

2 bd · 2.0 ba · 920 sqft · Condo public records · 143 Days on market

Built 1970

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Here you have a 2 bed 2 full bath (1 bath in master) condominium on the second level priced to sale. Front area of condo has a spacious living area with a separate area that hosts a dining area situated adjacent to the galley kitchen. A sturdy deck is accessible from the comfort of your living area. The hallway leads you to a full bath on the right, a second bedroom on the left and the master bedroom with full bath at the end. This condo has updated electrical wiring and panel. Fresh paint throughout. Photos are in the process of being uploaded.

Key facts

• Sturdy deck
• Fresh paint
• Galley kitchen

Tags

• SPACIOUS LIVING AREA
• DINING AREA
• GALLEY KITCHEN
• STURDY DECK
• UPDATED ELECTRICAL WIRING
• FRESH PAINT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $36k.

Deal economics

• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $32k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.9% vs local median 4.6% in South Fulton — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: Rents flat; 651 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($248 loan paydown + $4k appreciation (10.0% local appreciation)).
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.9% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 13y ago 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 $26k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $31,671 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 3.63% ✓
• Cap rate: 27.86%
• Cash-on-cash: 77.03%
• DSCR: 4.43
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.95% rent growth · sell at horizon

5-year hold

• IRR: 85.2%
• Equity multiple: 6.78×
• Total profit: $58,263
• Equity at exit: $32,423

10-year hold

• IRR: 79.0%
• Equity multiple: 14.34×
• Total profit: $134,454
• Equity at exit: $69,921

Cash invested: $10,077 (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 30349

• Home prices YoY: 4.6%
• Rents YoY: 0.9%
• Active inventory: 651
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,308 high
• Mortgage (P&I): −$189
• Tax from tax record: −$37 /mo · $441/yr
• Insurance: −$15
• HOA est. from 1 same-building comp: −$146
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $647

Break-even live

Break-even rent $489

Max offer price $35,990

Occupancy floor 46%

Sensitivity live

Price	-10% $667	-5% $657	+0% $647	+5% $637	+10% $627
Rent	-10% $544	-5% $595	+0% $647	+5% $699	+10% $750
Rate	-1.0pp $665	-0.5pp $656	base $647	+0.5pp $638	+1.0pp $628

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: $8,998
• Closing costs: $1,080
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 Camelot Dr Atlanta, GA	1.0	1.0	644	$850	$1.32	44d	1	0.02mi
5625 Montilly Cir Atlanta, GA	1.0	1.0	1000	$1,350	$1.35	44d	1	0.57mi
5515 Scofield Rd Atlanta, GA	3.0	2.0	1109	$1,788	$1.61	11d	1	0.67mi
5850 Old Bill Cook Rd Atlanta, GA	2.0	1.0	768	$1,450	$1.89	44d	1	0.97mi
3100 Godby Rd Atlanta, GA	1.0–2.0	1.0–2.5	959	$1,395	$1.45	2d	34	1.01mi
5730 N Castlegate Dr Unit A Atlanta, GA	2.0	2.5	1125	$1,395	$1.24	44d	1	1.04mi
3110 Godby Rd Unit 15a College Park, GA	2.0	1.5	1062	$1,150	$1.08	3d	1	1.05mi
3110 Godby Rd Unit 5d College Park, GA	2.0	2.0	1016	$1,150	$1.13	2d	1	1.05mi
3110 Godby Rd Unit 7d College Park, GA	1.0	1.0	743	$895	$1.20	19d	1	1.05mi
3110 Godby Rd Unit 09g College Park, GA	1.0	1.0	743	$935	$1.26	13d	1	1.05mi
2300 Flat Shoals Rd Unit 2 Riverdale, GA	2.0	3.0	1000	$1,425	$1.43	25d	1	1.11mi
2036 Laboon Cir Unit C Atlanta, GA	1.0	1.0	1000	$1,100	$1.10	6d	1	1.11mi
3120 Godby Rd #1107 Atlanta, GA	1.0	1.0	676	$1,800	$2.66	44d	1	1.11mi
2883 Windsor Forrest Ct Atlanta, GA	3.0	2.5	1115	$1,895	$1.70	2d	1	1.13mi
5267 Joan of Arc Pl Atlanta, GA	3.0	1.0	1066	$1,743	$1.64	44d	1	1.16mi
2431 Old National Pkwy College Park, GA	1.0–3.0	1.0–2.0	1031	$1,226	$1.19	2d	1	1.18mi
5750 Buffington Rd Atlanta, GA	1.0–3.0	1.0–2.0	1142	$1,458	$1.28	2d	19	1.22mi
2301 Godby Rd Atlanta, GA	2.0	1.0	1054	$1,225	$1.16	44d	1	1.23mi
5740 Buffington Rd Atlanta, GA	1.0–3.0	1.0–2.5	964	$1,825	$1.89	3d	16	1.31mi
1875 E Pleasant Hill Rd Atlanta, GA	1.0–2.0	1.0–2.0	942	$1,595	$1.69	2d	21	1.37mi
2001 Godby Rd Atlanta, GA	1.0–3.0	1.5–2.5	1275	$1,238	$0.97	3d	5	1.48mi

HOA detail condo

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

Listing history 50 events

1. 2026-05-31
   days on market $35,990 Active 143 DOM
2. 2026-03-03
   price $965
3. 2026-02-06
   price $999
4. 2026-01-08
   listed $35,990 New 551-char remark

   Show marketing remark (551 chars)

   Here you have a 2 bed 2 full bath (1 bath in master) condominium on the second level priced to sale. Front area of condo has a spacious living area with a separate area that hosts a dining area situated adjacent to the galley kitchen. A sturdy deck is accessible from the comfort of your living area. The hallway leads you to a full bath on the right, a second bedroom on the left and the master bedroom with full bath at the end. This condo has updated electrical wiring and panel. Fresh paint throughout. Photos are in the process of being uploaded.

5. 2026-01-08
   listed $35,990 Active 551-char remark

   Show marketing remark (551 chars)

   Here you have a 2 bed 2 full bath (1 bath in master) condominium on the second level priced to sale. Front area of condo has a spacious living area with a separate area that hosts a dining area situated adjacent to the galley kitchen. A sturdy deck is accessible from the comfort of your living area. The hallway leads you to a full bath on the right, a second bedroom on the left and the master bedroom with full bath at the end. This condo has updated electrical wiring and panel. Fresh paint throughout. Photos are in the process of being uploaded.

6. 2025-12-29
   historical
7. 2025-12-25
   listed $1,025
8. 2025-12-17
   price $30,000
9. 2025-10-28
   listed $42,990 New
10. 2025-10-24
    historical On Hold
11. 2025-07-31
    price $42,990
12. 2025-07-25
    historical
13. 2025-07-23
    listed $44,990 New
14. 2025-04-02
    price $44,990
15. 2025-03-31
    price $52,990
16. 2024-09-29
    listed $53,900 New
17. 2023-04-20
    historical
18. 2023-02-25
    price $57,900
19. 2022-10-14
    price $64,000
20. 2022-09-16
    price $66,900
21. 2022-06-24
    price $64,900
22. 2022-06-03
    listed $65,900 New
23. 2022-04-12
    historical On Hold
24. 2022-04-01
    price $62,900
25. 2022-03-05
    status Active
26. 2022-03-05
    price $52,900
27. 2022-01-04
    historical On Hold
28. 2022-01-04
    status Active
29. 2021-11-05
    historical On Hold
30. 2021-09-30
    price $39,800
31. 2021-08-10
    listed $35,900 New
32. 2020-11-26
    historical
33. 2020-09-26
    price $45,000
34. 2020-05-26
    listed $40,000 New
35. 2017-06-21
    soldstatus $26,000
36. 2017-06-16
    soldstatus $26,000 Sold
37. 2017-06-15
    soldstatus $26,000 Sold
38. 2017-06-02
    historical Pending
39. 2017-06-02
    status Under Contract
40. 2017-05-13
    listed $30,000 Active
41. 2017-05-13
    listed $30,000 New
42. 2016-06-21
    soldstatus $22,000
43. 2016-06-17
    price $22,000
44. 2016-06-14
    price $22,000
45. 2016-06-10
    soldstatus $22,000 Sold
46. 2016-06-10
    price $25,000
47. 2016-06-10
    soldstatus $22,000 Sold
48. 2016-06-02
    status Under Contract
49. 2016-06-02
    historical Pending
50. 2016-05-31
    price $25,000

ⓘ 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: $441 · $37/mo
• Projected year-2 tax: $441 · $37/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $15,697
• − Mortgage interest: −$2,016
• − Property taxes: −$441
• − Insurance: −$180
• − Repairs & maintenance: −$1,256
• − Management: −$1,256
• − HOA: −$1,752
• − Depreciation: −$1,047
• Taxable income: $7,750
• Est. tax owed @ 24.0%: −$1,860
• After-tax cash flow: $5,903/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 — South Fulton

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: South Fulton, GA
• County: Fulton County · 1,094,430 people
• City population: 127,674
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 79,872
• Household income: $67,023
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 4258.0

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: Predominantly Black (89%)
• Race & ethnicity: Black 89% Hispanic / Latino 5% Two or more races 4% White 3%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 6% French/Haitian/Cajun 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: ▲ 18.01%
• Current HPI: 407.99
• Rent YoY: ▲ 0.95%
• 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

+34.8% since first listed

60 events — show timeline

• 2026-03-03 Price Changed $965 RENTSPREE
• 2026-02-06 Price Changed $999 RENTSPREE
• 2026-01-08 Listed $35,990 FMLS
• 2026-01-08 Listed $35,990 GAMLS
• 2025-12-29 Listing Removed — GAMLS
• 2025-12-25 Listed for Rent $1,025 RENTSPREE
• 2025-12-17 Price Changed $30,000 GAMLS
• 2025-10-28 Listed $42,990 GAMLS
• 2025-10-24 Delisted — GAMLS
• 2025-07-31 Price Changed $42,990 GAMLS
• 2025-07-25 Listing Removed — GAMLS
• 2025-07-23 Listed $44,990 GAMLS
• 2025-04-02 Price Changed $44,990 GAMLS
• 2025-03-31 Price Changed $52,990 GAMLS
• 2024-09-29 Listed $53,900 GAMLS
• 2023-04-20 Listing Removed — GAMLS
• 2023-02-25 Price Changed $57,900 GAMLS
• 2022-10-14 Price Changed $64,000 GAMLS
• 2022-09-16 Price Changed $66,900 GAMLS
• 2022-06-24 Price Changed $64,900 GAMLS
• 2022-06-03 Listed $65,900 GAMLS
• 2022-04-12 Delisted — GAMLS
• 2022-04-01 Price Changed $62,900 GAMLS
• 2022-03-05 Relisted — GAMLS
• 2022-03-05 Price Changed $52,900 GAMLS
• 2022-01-04 Delisted — GAMLS
• 2022-01-04 Relisted — GAMLS
• 2021-11-05 Delisted — GAMLS
• 2021-09-30 Price Changed $39,800 GAMLS
• 2021-08-10 Listed $35,900 GAMLS
• 2020-11-26 Listing Removed — GAMLS
• 2020-09-26 Price Changed $45,000 GAMLS
• 2020-05-26 Listed $40,000 GAMLS
• 2017-06-21 Sold (Public Records) $26,000 Public Records
• 2017-06-16 Sold (MLS) $26,000 GAMLS
• 2017-06-15 Sold (MLS) $26,000 FMLS
• 2017-06-02 Contingent — FMLS
• 2017-06-02 Pending — GAMLS
• 2017-05-13 Listed $30,000 FMLS
• 2017-05-13 Listed $30,000 GAMLS
• 2016-06-21 Sold (Public Records) $22,000 Public Records
• 2016-06-17 Price Changed $22,000 FMLS
• 2016-06-14 Price Changed $22,000 GAMLS
• 2016-06-10 Sold (MLS) $22,000 GAMLS
• 2016-06-10 Price Changed $25,000 FMLS
• 2016-06-10 Sold (MLS) $22,000 FMLS
• 2016-06-02 Pending — GAMLS
• 2016-06-02 Contingent — FMLS
• 2016-05-31 Price Changed $25,000 GAMLS
• 2016-04-15 Listed $25,000 GAMLS
• 2016-04-10 Listed $25,000 FMLS
• 2014-08-07 Listing Removed — GAMLS
• 2014-04-29 Pending — GAMLS
• 2014-04-17 Listed $10,000 GAMLS
• 2013-10-19 Listing Removed — GAMLS
• 2013-08-19 Contingent — GAMLS
• 2013-04-20 Listed $10,000 GAMLS
• 2001-10-25 Sold (Public Records) $52,000 Public Records
• 1981-07-07 Sold (Public Records) $34,700 Public Records
• 1978-06-01 Sold (Public Records) $26,700 Public Records

Property tax history

-0.7%/yr

Latest (2025): $441 · -15.6% YoY. Source: county tax records.