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$155,000

Beds
2
Baths
1.0
sq ft
620

561 Formwalt St SW Unit 10, Atlanta, GA 30312

561 Formwalt St SW Unit 10

Atlanta, GA 30312

  • 20 days on market
    • Price drop $2,000↓
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.

Details

Property type

Condominium

Est. home value

$167,110

Lot size

619 sq ft

Price per sq ft

$250

Year built

1961

Annual property taxes

$524

HOA

No

Price History

10/28/2024
FMLS

FMLS #7468939

Price change
$155,000
-1.27%
10/19/2024
FMLS

FMLS #7468939

Listed
$157,000
+69.73%
01/18/2019
FMLS

FMLS #6097502

Sold
$92,500
+400%

Schools & Community

Neighborhood: 

Mechanicsville

Elementary school: 

Paul L. Dunbar

Middle school: 

Martin L. King Jr.

High school: 

Maynard Jackson

Community features: 

None

Number of units in community: 

24

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

City Oa Atlanta

Loan start date

January 2019

Original loan amount

$14,000

Est. remaining balance

$0

Interest rate

4.81%

Loan type

New Conventional, 5 year

Seller

Unknown

Lender

Vanderbilt Mortgage

Loan start date

January 2019

Original loan amount

$43,125

Est. remaining balance

$38,869

Interest rate

4.81%

Loan type

New Conventional, 30 year

Seller

Unknown

Lender

Housing Authority Of City Of Atlanta Geo

Loan start date

January 2019

Original loan amount

$20,000

Est. remaining balance

$9,544

Interest rate

4.25%

Loan type

New Conventional, 10 year

Seller

Unknown

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/08/2024 at 2:40 PM

Listing updated: 10/28/2024 at 1:10 PM

Listed by: Madeline Coffin, HomeSmart Phone #: (404) 876-4901

MLS: FMLS #7468939

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