29 days on rocket

561 Formwalt St SW Unit 10, Atlanta, GA, 30312

$155,000

Home List Price

$1,841*

Closing Credit

2 Bedrooms
1 Full Bath
620 SqFt
$250/SqFt
Condo

Location

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561 Formwalt St SW Unit 10, Atlanta$155,000

Buyer Closing Credits

$1,841*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
ParkingOff Street, Parking Pad, Side/Rear Entrance
Year Built1961
HeatingCentral
CoolingCentral Air
ViewCity
MLS #10398823
Lot Size0.01 Acres
StatusActive

About 561 Formwalt St SW Unit 10

Prime investment opportunity in the heart of Atlanta! This 2-bedroom, 1-bathroom condo has been updated and is ready to generate immediate rental income or move in ready for first time buyer! Key upgrades include a new conduction stove, new refrigerator, newer water heater, fresh paint throughout, and an updated kitchen. The bathroom has been modernized with a new vanity and toilet, and the shower was resurfaced in 2024. The HVAC system has been regularly maintained, ensuring lower maintenance costs for the new owner. This condo qualifies for Invest Atlanta Down Payment grants, up to $20,000! Just two miles from major attractions like State Farm Arena, Mercedes-Benz Stadium, Summerhill, and GSU Arena, this unit offers excellent appeal for buyers looking for proximity to downtown entertainment, dining, and transportation hubs.

Property Details

Property Features

Property Information:

  • Architectural Style: Brick 4 Side, Contemporary
  • Year Built: 1961
  • Living Area: 620 SqFt

Listing Office:

  • Office Name: HomeSmart
  • Office Phone: (678) 770-3906
  • Listing Agent: Madeline Coffin

Interior Features

Interior Information:

  • Appliances: Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Oven/Range, Refrigerator, Stainless Steel Appliance(s), Washer
  • Basement: No
  • Flooring Type: Hardwood
  • Interior: Other

Bedroom and Bathroom Information:

  • Full Bathrooms: 1
  • Total Bedroom Count: 2

Exterior Features

Exterior Information:

  • View: City
  • Exterior: Balcony

Parking Information:

  • Attached Garage: No
  • Parking: Off Street, Parking Pad, Side/Rear Entrance

Lot Features

Lot Information:

  • Lot: City Lot
  • Lot Size: 0.01 Acres

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Other

Directions Information:

  • Directions: use GPS, park on formwalt and come in through pedestrian gate, code 514.

Price Information

Listing Price Info

Price Summary:

  • List Price: $155,000
  • Price Per SqFt: $250/SqFt

Tax Information:

  • Annual Amount: $1,532
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Atlanta, GA.

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Atlanta, GA

City

Med. Sold Price

$421.4K

Med. Price/SqFt

$253

Avg. Days On Market

49

# of Sold Homes

1106

561 Formwalt St SW Unit 10 vs Atlanta

29 DAYS ON ROCKET

-20 Days

$155,000

-$266.4K Less

$250/SqFt

-$3 Less

KEY TAKEAWAY

This property is $266.4K less than the Median Sold Price and $3/SqFt less than other homes in Atlanta, GA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Georgia MLS 2
  • MLS Number: #10398823

Listing Office:

  • Office Name: HomeSmart
  • Office Phone: (678) 770-3906
  • Listing Agent: Madeline Coffin

IDX Based on information from the Georgia MLS © 2024.

All information provided is deemed reliable but is not guaranteed and should be independently verified. GAMLS, this broker and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser GAMLS and this broker assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law.

DMCA Notice
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 6:20:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Jan 24, 2019Home Sold
$92,500
Dec 03, 2015Home Sold
$56,000
Dec 19, 2011Home Sold
$18,500
Dec 19, 2011Home Sold
$18,500
Jun 15, 2005Home Sold
$104,900

Tax History

YEARPROP. TAXASSESSMENT
2020$1,532$37,000
2019$1,397$34,000
2017$967$22,400

History based on county public records data.

Payment Calculator

$841

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$531

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-588768
3
/10

  • Dunbar Elementary School

  • 500 Whitehall Ter SW

  • 0.37 miles

  • Public District Grades PK-5

school-card-donut-588769
4
/10

  • Gideons Elementary School

  • 897 Welch St SW

  • 0.84 miles

  • Public District Grades PK-5

school-card-donut-588770
4
/10

  • Barack & Michelle Obama Academy

  • 970 Martin St SE

  • 1.07 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $23,549. Typical income of Atlanta, GA residents is less than $35k annually. Residents typically live in single, no kids family. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 561 Formwalt St SW Unit 10

What is the listing price of this property?

The listing price of 561 Formwalt St SW Unit 10 property is $155,000.

What type of property is this?

The property 561 Formwalt St SW Unit 10 is a condo located in Atlanta, Georgia, 30312.

Is this property for sale now?

Active Listing: 561 Formwalt St SW Unit 10 is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2020 is $1,532 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on January 24, 2019 for $92,500. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 561 Formwalt St SW Unit 10 has 2 bedrooms and 1 bathroom.

What is the square footage of this property?

The property 561 Formwalt St SW Unit 10 is 620 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 561 Formwalt St SW Unit 10 is 1961.

Rocket Homes›Georgia›Fulton County›Atlanta›30312›561 Formwalt St SW Unit 10

This home is located at 561 Formwalt St SW Unit 10 in Atlanta, GA and zip code 30312 in the Southwestern Atlanta neighborhood. This 620 square foot home, which was built in 1961, sits on a 0.01 acre lot. Features: 2 bedrooms, 1 bathroom. It has been listed on Rocket Homes since October 19, 2024 and is currently priced at $155,000.

In October 2024 more than 184 listings in Atlanta, GA were sold above the asking price. During the same period more than 249 listings were sold at asking price, while more than 591 were sold below. The number of homes for sale in Atlanta, GA increased by 15.6% between September 2024 and October 2024. In October 2024, listings were on the market for 49 days. During the same period, the median list price in this real estate market was $421,449.

From Rocket Homes Real Estate and based on county public records data.

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