We investigated Sr$_3$Ru$_2$O$_7$, a quantum critical metal that shows a metamagnetic quantum phase transition and electronic nematicity, through density functional calculations. These predict a ferromagnetic ground state in contrast to the experimentally observed paramagnetism, raising the question of competing magnetic states and associated fluctuations that may suppress magnetic order. We did a search to identify such low energy antiferromagnetically ordered metastable states. We find that the lowest energy antiferromagnetic state has a striped order. This corresponds to the E-type order that has been shown to be induced by Mn alloying. We also note significant transport anisotropy in this E-type ordered state. These results are discussed in relation to experimental observations.
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