3067 Steeplechase · Alpharetta, GA 30004

$290,000

2 bd · 2.0 ba · 1,305 sqft · Condo public records · 36 Days on market

Built 1990 $222/sqft · 16% below area Est $343k · 16% under $400/mo HOA · 18% of rent

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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 +14.5/15.0
• Cash flow +7.0/30.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3067 Steeplechase Drive is a stunning, fully updated 2BR/2BA ground-level condo designed for modern, effortless living. Featuring a spacious open-concept layout, cozy fireplace, and fresh designer paint, this home is 100% move-in ready. The updated bathrooms and included appliances offer true turnkey convenience. Step outside to your private patio to enjoy peaceful, wooded views-a rare retreat in the heart of the city. Complete with off-street parking and situated in a PRIME Alpharetta location with immediate access to top-tier dining and shopping. Luxury, convenience, and access to TOP SCHOOLS!

Key facts

• $400 HOA
• Parking
• Built 1990

Property features AI

Finance

• Other: Located in Fulton County, Georgia
• HOA & community: Homeowners association with an annual fee of $4,800; HOA covers grounds maintenance, pest control, and water; Community near schools, shopping, trails/greenway, and park

Exterior

• Parking: Parking lot with 1 designated parking space
• Utilities: Public water; Public sewer; 110-volt electric; Cable available; Electricity available; Natural gas available; Phone available; Sewer available; Water available
• Home design: Condominium; One level; Resale property
• Construction: Shingle roof; Built with other construction materials; Slab foundation
• Exterior features: Private entrance; Exterior lighting; Front porch; Paved road access

Interior

• Kitchen: White cabinets; Eat-in kitchen; Pantry; Kitchen open to family room; Dishwasher; Electric range; Refrigerator
• Bedrooms: Oversized master on main; Roommate floor plan; 2 bedrooms on main level
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms; Master bath with soaking tub and tub/shower combo; 2 bathrooms on main level
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Entrance foyer; High 9-ft ceilings on main level; Walk-in closets; Insulated windows; End unit; Family room with fireplace
• Laundry & utility: Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $-420 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (25.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (21.7% below list).
• Recommended offer: $216k (25.6% below list) — sets the bar for cash-flow.
• Cap rate 4.6% 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: Alpharetta Elementary School (math 60% / reading 67%, grade B, #99 of 1,228 statewide, top 8%, 559 students, 15% FRL); Northwestern Middle School (math 64% / reading 74%, grade A, #17 of 470 statewide, top 4%, 1,143 students, 7% FRL) — zoned schools average 11% FRL vs 41% district-wide (31 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 66% at this address vs 51% district-wide (+15 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); 607 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 is only 17% of the median local income ($156k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 36 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 9y 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 $138k; list at $290k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $215,740 (25.6% 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 36 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 4.55%
• Cash-on-cash: -6.21%
• DSCR: 0.72
• GRM: 10.6

CMA / ARV

• ARV (median comp): $343,442
• List price: $290,000
• Delta: -15.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -28.4%
• Equity multiple: 0.06×
• Total profit: $-76,245
• Equity at exit: $43,240

10-year hold

• IRR: -33.3%
• Equity multiple: -0.36×
• Total profit: $-110,796
• Equity at exit: $25,074

Cash invested: $81,200 (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: 607
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,271 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$173 /mo · $2,073/yr
• Insurance: −$121
• HOA: −$400
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $-420

Break-even live

Break-even rent $2,803

Max offer price $215,740

Occupancy floor —

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Lexington Farms Dr Alpharetta, GA	1.0–3.0	1.0–2.0	1176	$2,285	$1.94	1d	27	0.12mi
371 Milton Ave Unit B Alpharetta, GA	2.0	1.0	1000	$1,400	$1.40	18d	1	0.47mi
125 Pebble Trl Alpharetta, GA	3.0	2.0	1740	$3,300	$1.90	3d	1	0.98mi
125 Pebble Trl Alpharetta, GA	3.0	2.0	1740	$3,300	$1.90	2d	1	0.98mi
2001 Commerce St Alpharetta, GA	1.0–2.0	1.0–2.0	960	$3,938	$4.10	1d	8	1.23mi
305 Hembree Forest Cir Unit 1 Roswell, GA	3.0	2.0	1400	$2,150	$1.54	19d	1	1.44mi
216 Devore Rd Alpharetta, GA	3.0	2.0	1302	$3,500	$2.69	43d	1	1.46mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $290,000 Active 36 DOM
2. 2026-06-17
   pricedays on market $290,000 Active 35 DOM
3. 2026-06-16
   days on market $300,000 Active 34 DOM

   Show marketing remark (602 chars)

   3067 Steeplechase Drive is a stunning, fully updated 2BR/2BA ground-level condo designed for modern, effortless living. Featuring a spacious open-concept layout, cozy fireplace, and fresh designer paint, this home is 100% move-in ready. The updated bathrooms and included appliances offer true turnkey convenience. Step outside to your private patio to enjoy peaceful, wooded views-a rare retreat in the heart of the city. Complete with off-street parking and situated in a PRIME Alpharetta location with immediate access to top-tier dining and shopping. Luxury, convenience, and access to TOP SCHOOLS!

4. 2026-06-15
   days on market $300,000 Active 33 DOM
5. 2026-06-13
   days on market $300,000 Active 31 DOM
6. 2026-06-09
   days on market $300,000 Active 27 DOM
7. 2026-06-08
   days on market $300,000 Active 26 DOM
8. 2026-06-07
   days on market $300,000 Active 25 DOM
9. 2026-06-04
   days on market $300,000 Active 22 DOM
10. 2026-06-03
    days on market $300,000 Active 21 DOM
11. 2026-06-01
    days on market $300,000 Active 19 DOM
12. 2026-05-31
    days on market $300,000 Active 18 DOM
13. 2026-05-13
    listed $300,000 New 602-char remark

    Show marketing remark (602 chars)

    3067 Steeplechase Drive is a stunning, fully updated 2BR/2BA ground-level condo designed for modern, effortless living. Featuring a spacious open-concept layout, cozy fireplace, and fresh designer paint, this home is 100% move-in ready. The updated bathrooms and included appliances offer true turnkey convenience. Step outside to your private patio to enjoy peaceful, wooded views-a rare retreat in the heart of the city. Complete with off-street parking and situated in a PRIME Alpharetta location with immediate access to top-tier dining and shopping. Luxury, convenience, and access to TOP SCHOOLS!

14. 2026-05-13
    listed $300,000 Active 608-char remark

    Show marketing remark (602 chars)

    3067 Steeplechase Drive is a stunning, fully updated 2BR/2BA ground-level condo designed for modern, effortless living. Featuring a spacious open-concept layout, cozy fireplace, and fresh designer paint, this home is 100% move-in ready. The updated bathrooms and included appliances offer true turnkey convenience. Step outside to your private patio to enjoy peaceful, wooded views-a rare retreat in the heart of the city. Complete with off-street parking and situated in a PRIME Alpharetta location with immediate access to top-tier dining and shopping. Luxury, convenience, and access to TOP SCHOOLS!

15. 2026-05-11
    historical $300,000 602-char remark

    Show marketing remark (602 chars)

    3067 Steeplechase Drive is a stunning, fully updated 2BR/2BA ground-level condo designed for modern, effortless living. Featuring a spacious open-concept layout, cozy fireplace, and fresh designer paint, this home is 100% move-in ready. The updated bathrooms and included appliances offer true turnkey convenience. Step outside to your private patio to enjoy peaceful, wooded views-a rare retreat in the heart of the city. Complete with off-street parking and situated in a PRIME Alpharetta location with immediate access to top-tier dining and shopping. Luxury, convenience, and access to TOP SCHOOLS!

16. 2026-05-11
    historical $300,000 608-char remark

    Show marketing remark (602 chars)

    3067 Steeplechase Drive is a stunning, fully updated 2BR/2BA ground-level condo designed for modern, effortless living. Featuring a spacious open-concept layout, cozy fireplace, and fresh designer paint, this home is 100% move-in ready. The updated bathrooms and included appliances offer true turnkey convenience. Step outside to your private patio to enjoy peaceful, wooded views-a rare retreat in the heart of the city. Complete with off-street parking and situated in a PRIME Alpharetta location with immediate access to top-tier dining and shopping. Luxury, convenience, and access to TOP SCHOOLS!

17. 2025-10-25
    historical $1,700
18. 2025-07-02
    listed $1,700
19. 2025-06-05
    historical $1,700
20. 2025-05-16
    listed $1,700
21. 2025-05-06
    historical
22. 2025-05-06
    historical
23. 2025-04-21
    price $340,000
24. 2025-04-21
    price $340,000
25. 2025-02-06
    listed $345,000 New
26. 2025-02-06
    listed $345,000 Active
27. 2025-01-24
    historical
28. 2025-01-24
    historical
29. 2024-10-30
    listed $350,000 Active
30. 2024-09-27
    listed $350,000 New
31. 2023-10-13
    historical $1,600
32. 2023-10-08
    listed $1,600
33. 2023-09-29
    historical $1,700
34. 2023-09-02
    price $1,700
35. 2023-08-11
    listed $1,825
36. 2022-06-21
    historical On Hold
37. 2022-06-10
    status Back On Market
38. 2022-06-01
    historical Active Under Contract
39. 2022-05-27
    listed $245,000 New
40. 2018-03-13
    soldstatus $137,500 Sold
41. 2018-03-13
    soldstatus $137,500 Sold
42. 2018-02-28
    status Under Contract
43. 2018-02-21
    status Pending
44. 2018-02-12
    historical Contingent - Due Diligence
45. 2018-01-30
    price $150,000
46. 2018-01-29
    price $150,000
47. 2017-12-21
    listed $160,000 Active
48. 2017-12-21
    listed $160,000 New
49. 2000-11-08
    soldstatus $115,000
50. 1998-08-27
    soldstatus $86,500

ⓘ 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: $2,073 · $173/mo
• Projected year-2 tax: $2,668 · $222/mo
• Expected delta: +$595/yr (+$50/mo · 28.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $27,250
• − Mortgage interest: −$16,245
• − Property taxes: −$2,073
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,180
• − Management: −$2,180
• − HOA: −$4,800
• − Depreciation: −$8,436
• Taxable loss: −$10,113
• Est. tax savings @ 24.0%: +$2,427
• After-tax cash flow: $-2,617/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

+235.3% since first listed

40 events — show timeline

• 2026-06-16 Price Changed $290,000 FMLS
• 2026-06-16 Price Changed $290,000 GAMLS
• 2026-05-13 Listed $300,000 GAMLS
• 2026-05-13 Listed $300,000 FMLS
• 2026-05-11 Coming Soon $300,000 GAMLS
• 2026-05-11 Coming Soon $300,000 FMLS
• 2025-10-25 Rental Removed $1,700 FMLS
• 2025-07-02 Listed for Rent $1,700 FMLS
• 2025-06-05 Rental Removed $1,700 FMLS
• 2025-05-16 Listed for Rent $1,700 FMLS
• 2025-05-06 Listing Removed — FMLS
• 2025-05-06 Listing Removed — GAMLS
• 2025-04-21 Price Changed $340,000 FMLS
• 2025-04-21 Price Changed $340,000 GAMLS
• 2025-02-06 Listed $345,000 FMLS
• 2025-02-06 Listed $345,000 GAMLS
• 2025-01-24 Listing Removed — FMLS
• 2025-01-24 Listing Removed — GAMLS
• 2024-10-30 Listed $350,000 FMLS
• 2024-09-27 Listed $350,000 GAMLS
• 2023-10-13 Rental Removed $1,600 FMLS
• 2023-10-08 Listed for Rent $1,600 FMLS
• 2023-09-29 Rental Removed $1,700 FMLS
• 2023-09-02 Price Changed $1,700 FMLS
• 2023-08-11 Listed for Rent $1,825 FMLS
• 2022-06-21 Delisted — GAMLS
• 2022-06-10 Relisted — GAMLS
• 2022-06-01 Contingent — GAMLS
• 2022-05-27 Listed $245,000 GAMLS
• 2018-03-13 Sold (MLS) $137,500 GAMLS
• 2018-03-13 Sold (MLS) $137,500 FMLS
• 2018-02-28 Pending — GAMLS
• 2018-02-21 Pending — FMLS
• 2018-02-12 Contingent — FMLS
• 2018-01-30 Price Changed $150,000 GAMLS
• 2018-01-29 Price Changed $150,000 FMLS
• 2017-12-21 Listed $160,000 GAMLS
• 2017-12-21 Listed $160,000 FMLS
• 2000-11-08 Sold (Public Records) $115,000 Public Records
• 1998-08-27 Sold (Public Records) $86,500 Public Records

Property tax history

+6.5%/yr

Latest (2025): $2,073 · -0.0% YoY. Source: county tax records.