1505 Camelot Dr Unit 1505A · South Fulton, GA 30349

$29,990

2 bd · 2.0 ba · 1,840 sqft · Condo · 55 Days on market

Built 1970 $293/mo HOA · 17% of rent ↓ 14% since listing

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Why this score? — see what drove the C- 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Priced to sell and very affordable apartment at a premium location, right next to a major Road. Close to shops, groceries, transportation, dining and whatever you can imagine. Your Next HOME!!!. Welcome to this charming condominium that has a spacious layout with ample natural light, brand new fresh paint on all the walls. Low taxes!!! Water, sewer and garbage included with the HOA Dues. Spacious 2bedroom and 2bathrooms. Valcony to get relaxed! Some small nice touchups could make this a great producer, with a Voucher tenant could rent $1200 pre month! Bring your buyers! So much potential over here with the right owner and make shine like a diamond!

Key facts

• On-site amenities
• Modern kitchen
• Prime location

Tags

• MODERN KITCHEN
• ON-SITE AMENITIES
• PRIME LOCATION
• EASY ACCESS TO DINING
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO ENTERTAINMENT

Property features AI

Finance

• Other: Located in the Camelot Club subdivision; Unit #1505A
• HOA & community: Association present; Association dues include structure and grounds maintenance, trash, and water

Exterior

• Parking: Garage (2 parking spaces)
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Attached residential condominium; High-rise structure
• Construction: Built in 1970; Brick and stone construction; Tile roof
• Exterior features: Other exterior features; Has a view; Lot features: None

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Other interior features; One-level living; Owner-provided living area: 1840 total (920 above grade, 920 below grade); No basement; No fireplaces
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $30k.

Deal economics

• At list price, monthly cash flow is $834 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 39.7% 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 C — 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.
• Zoned schools: Heritage Elementary School (math 12% / reading 22%, grade F, #936 of 1,228 statewide, top 79%, 469 students, 100% FRL); Mcnair Middle School (math 8% / reading 12%, grade F, #433 of 470 statewide, top 93%, 888 students, 100% FRL); Banneker High School (math 24% / reading 75%, grade D+, #28 of 424 statewide, top 7%, 1,610 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 26% at this address vs 51% district-wide (-26 pts) — the specific schools serving this property underperform the Fulton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 656 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• This rent runs 30% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($208 loan paydown + $3k 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 9, 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 55 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Recommended offer $29,090 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 5.63% ✓
• Cap rate: 39.67%
• Cash-on-cash: 119.20%
• DSCR: 6.30
• GRM: 1.5

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: —
• Equity multiple: 8.89×
• Total profit: $66,252
• Equity at exit: $27,017

10-year hold

• IRR: —
• Equity multiple: 18.55×
• Total profit: $147,367
• Equity at exit: $58,264

Cash invested: $8,397 (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: 656
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,689 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $450/yr
• Insurance: −$12
• HOA: −$293
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $834

Break-even live

Break-even rent $633

Max offer price $29,990

Occupancy floor 46%

Sensitivity live

Price	-10% $855	-5% $845	+0% $834	+5% $824	+10% $813
Rent	-10% $701	-5% $767	+0% $834	+5% $901	+10% $968
Rate	-1.0pp $849	-0.5pp $842	base $834	+0.5pp $826	+1.0pp $818

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: $7,498
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5460 Hampton Ct Atlanta, GA	2.0	3.5	1554	$1,500	$0.97	44d	1	0.21mi
5410 Twin Lakes Dr Atlanta, GA	3.0	2.0	1277	$2,040	$1.60	44d	1	0.23mi
2500 Pleasant Hill Rd Atlanta, GA	2.0–3.0	1.5–2.5	1405	$1,149	$0.82	25d	2	0.38mi
5645 Deerfield Trl Atlanta, GA	3.0	1.5	1496	$1,495	$1.00	23d	1	0.40mi
5370 Longmeadow Ln Atlanta, GA	3.0	2.0	1248	$1,600	$1.28	18d	1	0.52mi
2890 Jerome Rd Atlanta, GA	3.0	1.5	1229	$1,731	$1.41	0d	1	0.55mi
2565 Lantern Ln Atlanta, GA	1.0	1.0	1522	$621	$0.41	0d	1	0.60mi
2555 Flat Shoals Rd #3005 Atlanta, GA	3.0	2.5	1724	$1,850	$1.07	6d	1	0.77mi
2555 Flat Shoals Rd #404 College Park, GA	3.0	2.5	1408	$1,700	$1.21	25d	1	0.79mi
5442 Scofield Rd Atlanta, GA	3.0	1.5	1368	$1,775	$1.30	44d	1	0.79mi
6056 Carriage Ct Atlanta, GA	3.0	2.0	1400	$1,549	$1.11	0d	1	0.79mi
2555 Flat Shoals Rd #401 Atlanta, GA	3.0	2.5	1550	$2,050	$1.32	44d	1	0.84mi
395 Fox Trail Dr Atlanta, GA	3.0	2.0	1400	$1,980	$1.41	12d	1	0.88mi
5247 Scofield Rd Atlanta, GA	3.0	2.0	1958	$2,000	$1.02	44d	1	0.98mi
5843 Summerglen Ln Atlanta, GA	3.0	2.5	2453	$1,795	$0.73	25d	1	1.07mi
6230 Cedar Wood Dr Atlanta, GA	3.0	2.0	1238	$1,694	$1.37	44d	1	1.08mi
320 Emerald Green Ct Atlanta, GA	3.0	2.0	1575	$2,050	$1.30	44d	1	1.11mi
5866 Summerglen Ln Atlanta, GA	3.0	2.0	1400	$1,450	$1.04	44d	1	1.11mi
5071 Windsor Forrest Ln Atlanta, GA	3.0	2.5	1303	$1,881	$1.44	14d	1	1.13mi
6027 Oak Bend Ct Riverdale, GA	3.0	2.5	1530	$2,070	$1.35	6d	1	1.13mi
2817 Windsor Forrest Ct Atlanta, GA	3.0	2.5	1408	$1,697	$1.21	44d	1	1.14mi
2817 Windsor Forrest Ct Atlanta, GA	3.0	2.5	1408	$1,697	$1.21	0d	1	1.14mi
2835 Windsor Forrest Ct Atlanta, GA	3.0	2.5	1680	$1,881	$1.12	6d	1	1.15mi
2431 Old National Pkwy College Park, GA	1.0–3.0	1.0–2.0	1031	$1,226	$1.19	3d	1	1.18mi
6048 Oak Bend Ct Riverdale, GA	3.0	2.5	1500	$1,750	$1.17	0d	1	1.19mi
6048 Oak Bend Ct Riverdale, GA	3.0	2.5	1500	$1,750	$1.17	23d	1	1.19mi
5867 Sheldon Ct Unit C Atlanta, GA	1.0	1.0	1244	$825	$0.66	0d	1	1.20mi
5867 Sheldon Ct Atlanta, GA	1.0	1.0	1244	$825	$0.66	45d	1	1.20mi
5750 Buffington Rd Atlanta, GA	1.0–3.0	1.0–2.0	1142	$1,428	$1.25	0d	18	1.22mi
6560 Emerald Pointe Cir Atlanta, GA	3.0	2.0	1309	$1,500	$1.15	23d	1	1.23mi
3280 Sable Trl Atlanta, GA	3.0	3.0	2342	$1,650	$0.70	12d	1	1.23mi
3282 Sable Trl Unit 1 Atlanta, GA	3.0	3.0	2342	$1,795	$0.77	44d	1	1.23mi
6078 Oak Bend Ct Riverdale, GA	3.0	2.5	1622	$1,800	$1.11	25d	1	1.26mi
6278 Rockaway Rd Atlanta, GA	3.0	2.5	1524	$2,000	$1.31	44d	1	1.31mi
855 Old Rocky Rd Atlanta, GA	3.0	2.0	1310	$1,710	$1.31	25d	1	1.32mi
5234 Norman Blvd Atlanta, GA	3.0	2.0	1404	$1,785	$1.27	44d	1	1.33mi
5275 Hanover St Atlanta, GA	3.0	2.5	1613	$1,973	$1.22	0d	1	1.34mi
3364 Estes Dr Atlanta, GA	3.0	2.5	1736	$1,889	$1.09	18d	1	1.36mi
5298 Hanover St Atlanta, GA	3.0	2.5	1610	$2,188	$1.36	6d	1	1.37mi
5219 Hanover St Atlanta, GA	3.0	2.5	1864	$1,850	$0.99	44d	1	1.38mi

HOA detail condo

• Monthly dues: $293 · $3,516/yr
• Likely covers: watersewertrash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $29,990 Active 55 DOM
2. 2026-06-18
   days on market $29,990 Active 52 DOM
3. 2026-06-17
   days on market $29,990 Active 51 DOM
4. 2026-06-16
   days on market $29,990 Active 50 DOM
5. 2026-06-15
   days on market $29,990 Active 49 DOM
6. 2026-06-13
   days on market $29,990 Active 47 DOM
7. 2026-06-09
   days on market $29,990 Active 43 DOM
8. 2026-06-08
   days on market $29,990 Active 42 DOM
9. 2026-06-07
   days on market $29,990 Active 41 DOM
10. 2026-06-04
    days on market $29,990 Active 38 DOM
11. 2026-06-03
    days on market $29,990 Active 37 DOM
12. 2026-06-01
    days on market $29,990 Active 35 DOM
13. 2026-05-31
    days on market $29,990 Active 34 DOM
14. 2026-04-27
    listed $34,990 New 660-char remark

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

Taxation est. · year 1

• Rental income: $20,269
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,622
• − Management: −$1,622
• − HOA: −$3,516
• − Depreciation: −$872
• Taxable income: $10,358
• Est. tax owed @ 24.0%: −$2,486
• After-tax cash flow: $7,524/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

-14.3% since first listed

2 events — show timeline

• 2026-05-23 Price Changed $29,990 GAMLS
• 2026-04-27 Listed $34,990 GAMLS