$82,000
SOLD APR 13, 2016

561 Formwalt St SW Unit 12 Atlanta, GA 30312

Mechanicsville Neighborhood
2 Beds
1 Bath
588 Sq Ft
$179/mo HOA Fee

Recently Sold

$139 Per Sq Ft

4% Below List Price

35 Days on Market

Highlights

  • Gated Community
  • Wood Flooring
  • Security Gate
  • Traditional Architecture
  • Breakfast Bar
  • 1-Story Property

About This Home

As of October 2022

Want an updated property and a tenant that pays on a time? You've got it with this 2 bedroom condo that has been renovated with all the upgrades today's renter demands. As Georgia State University expands, this condo is perfect for an investor that wants to expand their rental portfolio. With a private rear deck, exposed brick, stainless steel appliances, and a close proximity to all that downtown has to offer, you are able to cash flow from day one. An established tenant pays $1000 a month and a lease expiration of October 2017.

Last Agent to Sell the Property

Christian Ross

Engel & Völkers Atlanta License #310068 Listed on: 02/20/2016

Engel & Völkers Atlanta

Last Buyer's Agent

Lakisha Knight

Keller Williams Realty West Atlanta License #352620

Keller Williams Realty West Atlanta

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $406

Year Built

  • Built in 1961

HOA Fees

  • $179 Monthly HOA Fees

Home Design

  • Traditional Architecture
  • Frame Construction
  • Composition Roof

Interior Spaces

  • 588 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Family Room
  • Wood Flooring
  • Security Gate
  • Laundry on main level

Kitchen

  • Breakfast Bar
  • Gas Range
  • Dishwasher
  • Laminate Countertops
  • Wood Stained Kitchen Cabinets

Bedrooms and Bathrooms

  • 2 Main Level Bedrooms
  • 1 Full Bathroom
  • Bathtub and Shower Combination in Primary Bathroom

Parking

  • 1 Parking Space
  • Unassigned Parking

Schools

  • Paul L. Dunbar Elementary School
  • Parks Middle School
  • Maynard Jackson High School

Additional Features

  • Two or More Common Walls
  • Forced Air Heating System

Listing and Financial Details

  • Assessor Parcel Number 14 007600101311

Community Details

Overview

  • Mid-Rise Condominium
  • Square Condos Subdivision

Additional Features

  • Laundry Facilities
  • Gated Community

Property Details

Home Type

Condominium

Est. Annual Taxes

$406

Year Built

Built in 1961

Lot Details

0

HOA Fees

$179 per month

Listing Details

  • Standard Status: Closed
  • Property Type: Residential
  • MLS Status: Closed
  • Property Sub Type: Condominium
  • Architectural Style: Mid-Rise (up to 5 stories), Traditional
  • Property Condition: Resale
  • Year Built: 1961
  • Levels Stories: One
  • Special Features: None

Property Details

  • Property: Residential Attached

Interior Features

  • Flooring: Hardwood
  • Appliances: Dishwasher, Gas Range, Refrigerator
  • Kitchen Features: Breakfast Bar, Cabinets Stain, Laminate Counters
  • Common Walls: 2+ Common Walls
  • Additional Rooms: Family Room
  • Square Footage: 588.00

Beds/Baths

  • Total Bedrooms: 2
  • Main Bedrooms: 2
  • Total Full Baths: 1
  • Main Full Bathrooms: 1
  • Master Bathroom Features: Tub/Shower Combo

Exterior Features

  • Construction Materials: Frame
  • Roof Type: Composition

Garage/Parking

  • Number Of Parking Spaces: 1
  • Parking Features: Unassigned

Utilities

  • Security: Security Gate
  • Cooling: Ceiling Fan(s)
  • Heating: Forced Air
  • Laundry Features: Common Area, Main Level

Condo/Co-op/Association

  • Community Features: Gated
  • Association Fee: 179
  • Association Fee Frequency: Monthly
  • Master Association Fee Frequency: Annually
  • Association: Yes
  • Subdivision Complex: Square Condos

Schools

  • Elementary School: Paul L. Dunbar
  • Middle School: Parks
  • High School: Maynard Jackson

Lot Info

  • Parcel Number: 14 007600101311
  • Property Attached Yn: Yes

Tax Info

  • Taxes: 406.00
  • Assessor Parcel Number: 14-0076-0010-131-1
  • Close Date: 2016-04-13
  • Tax Year: 2015

MLS Schools

  • School Bus Route Elem: Yes
  • School Bus Route High: Yes
  • School Bus Route Middle: Yes
  • Elementary School: Paul L. Dunbar
  • High School: Maynard Jackson
  • Middle School: Parks

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 13, 2023
Sold by
Olguin Jesika
Bought by
Jmo Acquisitions Llc
Total Days on Market
35

Purchase Details

Listed on
Aug 29, 2022
Closed on
Oct 14, 2022
Sold by
Green Jones Ingrid
Bought by
Olguin Jesika
Seller's Agent
Lakisha Knight
Keller Williams West Atlanta
Buyer's Agent
Jessica Stone
Sanders Real Estate
List Price
$150,000
Sold Price
$135,000
Premium/Discount to List
-$15,000
-10%
Views
77

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.31%
Original Mortgage
$100,000
Interest Rate
6.02%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 20, 2016
Closed on
Apr 13, 2016
Sold by
Ancona Anna
Bought by
Green Jones Ingrid and Jones Negorie
Seller's Agent
Christian Ross
Engel & Völkers Atlanta
Buyer's Agent
Lakisha Knight
Keller Williams Realty West Atlanta
List Price
$85,000
Sold Price
$82,000
Premium/Discount to List
-$3,000
-3.53%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.95%

Purchase Details

Closed on
Dec 3, 2015
Sold by
Italian Dream Llc
Bought by
Ancona Anna

Purchase Details

Listed on
Mar 22, 2012
Closed on
Apr 26, 2012
Sold by
Etheridge Shellae
Bought by
Miggiano Fabio
Seller's Agent
RO PREISINGER
Coldwell Banker Realty
Buyer's Agent
RO PREISINGER
Coldwell Banker Realty
List Price
$30,000
Sold Price
$18,900
Premium/Discount to List
-$11,100
-37%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
16.91%

Purchase Details

Listed on
Mar 22, 2012
Closed on
Feb 28, 2012
Sold by
Atl 500 600 Block Holdings
Bought by
Etheridge Shellae
Seller's Agent
RO PREISINGER
Coldwell Banker Realty
Buyer's Agent
RO PREISINGER
Coldwell Banker Realty
List Price
$30,000
Sold Price
$18,900
Premium/Discount to List
-$11,100
-37%
Source: Public Records

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed -- --
Warranty Deed $135,000 --
Warranty Deed $82,000 --
Warranty Deed -- --
Warranty Deed $18,900 --
Warranty Deed -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $100,000 New Conventional
Previous Owner $63,000 Stand Alone Second
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/20/2025 02/20/25 For Sale $149,000 +10.4% $253 / Sq Ft
10/17/2022 10/17/22 Sold $135,000 -3.6% $230 / Sq Ft
09/22/2022 09/22/22 Pending -- -- --
09/14/2022 09/14/22 Price Changed $140,000 -6.7% $238 / Sq Ft
08/29/2022 08/29/22 For Sale $150,000 0.0% $255 / Sq Ft
05/13/2019 05/13/19 Rented $1,100 0.0% --
04/22/2019 04/22/19 For Rent $1,100 +10.0% --
09/28/2018 09/28/18 Rented $1,000 0.0% --
09/06/2018 09/06/18 For Rent $1,000 +11.1% --
10/15/2016 10/15/16 Rented $900 -10.0% --
10/12/2016 10/12/16 For Rent $1,000 0.0% --
04/13/2016 04/13/16 Sold $82,000 -3.5% $139 / Sq Ft
03/27/2016 03/27/16 Pending -- -- --
02/21/2016 02/21/16 For Sale $85,000 +349.7% $145 / Sq Ft
04/26/2012 04/26/12 Sold $18,900 -37.0% $32 / Sq Ft
04/17/2012 04/17/12 Pending -- -- --
03/22/2012 03/22/12 For Sale $30,000 -- $51 / Sq Ft
Source: First Multiple Listing Service (FMLS)

Tax History Compared to Growth

Source: Public Records

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
2023 $1,811 $54,000 $7,320 $46,680
2022 $1,517 $37,480 $4,760 $32,720
2021 $1,473 $36,360 $4,600 $31,760
2020 $1,473 $35,960 $4,560 $31,400
2019 $117 $33,040 $4,200 $28,840
2018 $952 $23,000 $3,040 $19,960
2017 $404 $9,360 $1,560 $7,800
2016 $405 $9,360 $1,560 $7,800
2015 $444 $9,360 $1,560 $7,800
2014 $424 $9,360 $1,560 $7,800
Source: Public Records

Agents Affiliated with this Home

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Map

Source: First Multiple Listing Service (FMLS)

MLS Number: 5650039

First Multiple Listing Service (FMLS)

APN: 14-0076-0010-131-1