14 days on rocket

561 Formwalt St SW Unit 5, Atlanta, GA, 30312

$135,000

Home List Price

$1,603*

Closing Credit

2 Bedrooms
1 Full Bath
583 SqFt
$232/SqFt
Condo

Location

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561 Formwalt St SW Unit 5, Atlanta$135,000

Buyer Closing Credits

$1,603*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
ParkingOn Street, Parking Lot
Year Built1961
HeatingCentral
CoolingCentral Air
WaterfrontNone
FireplaceNone
ViewOther
MLS #7491872
Lot Size0.01 Acres
StatusActive

About 561 Formwalt St SW Unit 5

Location! REDUCED MOTIVATED SELLER AND $10,000 towards downpayment with the help of the $10,000 Homebuyer Access grant as a primary residence purchase. The unit is currently rented for 1250 to a long-term tenant. It is very easy to find new tenants or increase rent. Also, it can be bought as a package with two other units in the same building. Additional Unit 8 (mls 7491868) is rented for 1250. And 571 Formwalt unit 7 is empty and can also be rented for 1250. Showing 571 Formwalt Unit 7 can be done as it is vacant. There is no Seller Disclosure as the seller has not lived there.

Property Details

Property Features

Property Information:

  • Architectural Style: Contemporary, Modern
  • Year Built: 1961
  • Living Area: 583 SqFt

Listing Office:

  • Office Name: Dalton Wade, Inc.
  • Office Phone: (888) 668-8283
  • Listing Agent: Pratik Karan

Interior Features

Interior Information:

  • Appliances: Dishwasher, Electric Oven, Microwave
  • Basement: No
  • Flooring Type: Hardwood
  • Interior: Other
  • Fireplace: None

Bedroom and Bathroom Information:

  • Full Bathrooms: 1
  • Total Bedroom Count: 2

Exterior Features

Exterior Information:

  • Private Pool: No
  • Waterfront: None
  • View: Other
  • Exterior: Private Yard

Parking Information:

  • Attached Garage: No
  • Parking: On Street, Parking Lot

Lot Features

Lot Information:

  • Lot: Back Yard
  • Lot Size: 0.01 Acres

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Other

Directions Information:

  • Directions: Only showing during DD

Price Information

Listing Price Info

Price Summary:

  • List Price: $135,000
  • Price Per SqFt: $232/SqFt

Tax Information:

  • Annual Amount: $1,480
  • 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

$421.8K

Med. Price/SqFt

$251

Avg. Days On Market

47

# of Sold Homes

939

561 Formwalt St SW Unit 5 vs Atlanta

14 DAYS ON ROCKET

-33 Days

$135,000

-$286.8K Less

$232/SqFt

-$20 Less

KEY TAKEAWAY

This property is $286.8K less than the Median Sold Price and $20/SqFt less than other homes in Atlanta, GA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: First Multiple Listing Service
  • MLS Number: #7491872

Listing Office:

  • Office Name: Dalton Wade, Inc.
  • Office Phone: (888) 668-8283
  • Listing Agent: Pratik Karan

IDX Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed.

If you believe any FMLS listing contains material that infringes your copyrighted work please Click Here to review our DMCA and learn how to submit a takedown request. Information is deemed reliable but is not guaranteed. © 2024 First Multiple Listing Service, Inc.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/11/2024, 9:20:50 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

Feb 03, 2016Home Sold
$47,500
May 08, 2013Home Sold
$37,500
Jul 03, 2012Home Sold
$19,500
Apr 25, 2005Home Sold
$94,900

Tax History

YEARPROP. TAXASSESSMENT
2020$1,480$35,760
2019$1,576$38,360
2017$441$10,200

History based on county public records data.

Payment Calculator

$741

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$471

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-1838889
3
/10

  • Dunbar Elementary School

  • 500 Whitehall Ter SW

  • 0.37 miles

  • Public District Grades PK-5

school-card-donut-1838890
4
/10

  • Gideons Elementary School

  • 897 Welch St SW

  • 0.84 miles

  • Public District Grades PK-5

school-card-donut-1838891
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. Most Atlanta, GA residents have annual incomes less than $35k. Most families are single, no kids. Most residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 561 Formwalt St SW Unit 5

What is the listing price of this property?

The listing price of 561 Formwalt St SW Unit 5 property is $135,000.

What type of property is this?

The property 561 Formwalt St SW Unit 5 is a condo located in Atlanta, Georgia, 30312.

Is this property for sale now?

Active Listing: 561 Formwalt St SW Unit 5 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 $1,480 (source: MLS/based on county public records data).

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

The last sale was on February 3, 2016 for $47,500. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 561 Formwalt St SW Unit 5 has 2 bedrooms and 1 bathroom.

What is the square footage of this property?

The property 561 Formwalt St SW Unit 5 is 583 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 561 Formwalt St SW Unit 5 is 1961.

Rocket Homes›Georgia›Fulton County›Atlanta›30312›561 Formwalt St SW Unit 5

This home is located at 561 Formwalt St SW Unit 5 in Atlanta, GA and zip code 30312 in the Southwestern Atlanta neighborhood. This 583 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 November 28, 2024 and is currently priced at $135,000.

Over 147 listings were sold over their listed price in November 2024 in Atlanta, GA. In the same period over 559 listings were sold below the listed price and 188 listings were sold for the listed price. The inventory of homes for sale in Atlanta, GA between October 2024 and November 2024 increased by 5.4%. In November 2024 median list price was $421,834 and the average listing age was 47 days.

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

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