561 Formwalt St SW Unit 10 Atlanta, GA 30312
Mechanicsville NeighborhoodEstimated payment $1,098/month
Highlights
- Deck
- Wood Flooring
- Double Pane Windows
- Contemporary Architecture
- Balcony
- Laundry closet
About This Home
Prime investment opportunity or perfect for first time buyer in the heart of Atlanta! This unit is one of the larger floor plans, a corner unit, and on the second floor. 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 EV charger, 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. VA, Cash, Conventional accepted.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $524
Year Built
- Built in 1961
Lot Details
- Two or More Common Walls
- Fenced Front Yard
- Privacy Fence
- Fenced
HOA Fees
- $330 Monthly HOA Fees
Home Design
- Contemporary Architecture
- Pillar, Post or Pier Foundation
- Composition Roof
- Four Sided Brick Exterior Elevation
Interior Spaces
- 620 Sq Ft Home
- 1-Story Property
- Double Pane Windows
- Wood Flooring
Kitchen
- Dishwasher
- Disposal
Bedrooms and Bathrooms
- 2 Main Level Bedrooms
- 1 Full Bathroom
- Low Flow Plumbing Fixtures
Laundry
- Laundry closet
- Dryer
- Washer
Home Security
Parking
- 1 Parking Space
- Parking Pad
- Off-Street Parking
Eco-Friendly Details
- Energy-Efficient Appliances
- Energy-Efficient Thermostat
Outdoor Features
- Balcony
- Deck
Schools
- Dunbar Elementary School
- King Middle School
- Mh Jackson Jr High School
Utilities
- Central Heating and Cooling System
- 220 Volts
- Electric Water Heater
- Phone Available
- Cable TV Available
Listing and Financial Details
- Tax Lot 10
Community Details
Overview
- $1,000 Initiation Fee
- Association fees include insurance, maintenance exterior, ground maintenance, pest control, reserve fund, sewer, trash, water
- Mid-Rise Condominium
- Capitol City Square Subdivision
Security
- Fire and Smoke Detector
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $446 | $54,560 | $7,080 | $47,480 |
| 2023 | $2,587 | $62,480 | $8,120 | $54,360 |
| 2022 | $386 | $38,560 | $5,000 | $33,560 |
| 2021 | $368 | $37,440 | $4,840 | $32,600 |
| 2020 | $358 | $37,000 | $4,800 | $32,200 |
| 2019 | $117 | $34,000 | $4,400 | $29,600 |
| 2018 | $980 | $23,680 | $3,200 | $20,480 |
| 2017 | $967 | $22,400 | $3,880 | $18,520 |
| 2016 | $970 | $22,400 | $3,880 | $18,520 |
| 2015 | $420 | $9,680 | $1,680 | $8,000 |
| 2014 | -- | $9,680 | $1,680 | $8,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 10/31/2025 10/31/25 | For Sale | $138,500 | 0.0% | $223 / Sq Ft | |
| 09/26/2025 09/26/25 | Rented | $1,000 | -33.3% | -- | |
| 02/05/2025 02/05/25 | Price Changed | $1,500 | -10.4% | $2 / Sq Ft | |
| 02/03/2025 02/03/25 | For Rent | $1,675 | 0.0% | -- | |
| 01/18/2019 01/18/19 | Sold | $92,500 | -11.9% | $149 / Sq Ft | View Prior Sale |
| 11/28/2018 11/28/18 | Pending | -- | -- | -- | |
| 11/06/2018 11/06/18 | For Sale | $105,000 | -- | $169 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $92,500 | -- | |
| Warranty Deed | -- | -- | |
| Warranty Deed | $56,000 | -- | |
| Warranty Deed | $18,500 | -- | |
| Warranty Deed | $18,500 | -- |
Source: Georgia MLS
MLS Number: 10635310
APN: 14-0076-0010-129-5
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of Georgia MLS. Real estate listings held by brokerage firms other than Redfin are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. Information deemed reliable but not guaranteed. Copyright 2025 Georgia MLS. All rights reserved.
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