NOT LISTED FOR SALE

571 Formwalt St SW Unit 5 Atlanta, GA 30312

Mechanicsville Neighborhood

Estimated Value: $132,164 - $141,000

2 Beds
1 Bath
583 Sq Ft
$200/mo HOA Fee

Last Sold October 30, 2017

Last sale price $84,000 $144 Per Sq Ft

Est. 62% increase in value since last sale

Current estimated payment $1,105/month

12 Days on Market

Highlights

  • Open-Concept Dining Room
  • Deck
  • Wood Flooring
  • Gated Community
  • Contemporary Architecture
  • Stone Countertops

About This Home

As of October 2017

Art Deco style condo in HOT Mechanisville neighborhood. Renovated condo w/ exposed brick, hardhood floors and stainless steel appliances. Great value close to so much Atlanta has to offer. Currently rented for $800/month by a long term tenant. Market rent could go higher. HOA includes water. No rental restrictions and a gated community makes this unit a rare opportunity for a savvy investor. Mechanicsville is an Atlanta Beltline neighborhood that has been targeted by City for its revitalization plan so get in while you can!

Last Agent to Sell the Property

Patrick Peyer

Keller Williams Realty Metro Atlanta License #266568 Listed on: 10/10/2017

Keller Williams Realty Metro Atlanta

Last Buyer's Agent

Khoa Do

International Real Estate Dream, LLC. License #342440

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $367

Year Built

  • Built in 1961

Lot Details

  • 566

HOA Fees

  • $200 Monthly HOA Fees

Parking

  • Parking Lot

Home Design

  • Contemporary Architecture
  • Four Sided Brick Exterior Elevation

Interior Spaces

  • 583 Sq Ft Home
  • 2-Story Property
  • Open-Concept Dining Room
  • Wood Flooring
  • Security Gate

Kitchen

  • Electric Range
  • Microwave
  • Dishwasher
  • Stone Countertops
  • Wood Stained Kitchen Cabinets

Bedrooms and Bathrooms

  • 2 Main Level Bedrooms
  • Split Bedroom Floorplan
  • 1 Full Bathroom

Schools

  • Paul L. Dunbar Elementary School
  • Martin L. King Jr. Middle School
  • Maynard Jackson High School

Utilities

  • Central Air
  • Heating Available

Additional Features

  • Deck
  • No Units Located Below

Listing and Financial Details

  • Assessor Parcel Number 14 007600101360

Community Details

Overview

  • Capital City Square Condos Subdivision

Security

  • Gated Community

Property Details

Home Type

Condominium

Est. Annual Taxes

$367

Year Built

Built in 1961

Lot Details

0

HOA Fees

$200 per month

Listing Details

  • Standard Status: Closed
  • Property Type: Residential
  • MLS Status: Closed
  • Property Sub Type: Condominium
  • Architectural Style: Contemporary/Modern
  • Property Condition: Resale
  • Year Built: 1961
  • Levels Stories: Two
  • Special Features: None

Property Details

  • Property: Residential Attached

Interior Features

  • Flooring: Hardwood
  • Appliances: Dishwasher, Electric Range, Microwave, Refrigerator
  • Kitchen Features: Cabinets Stain, Stone Counters
  • Common Walls: No One Below
  • Additional Rooms: Other
  • Dining Room Features: Open Concept
  • Square Footage: 583.00

Beds/Baths

  • Total Bedrooms: 2
  • Bedroom Features: Split Bedroom Plan
  • Main Bedrooms: 2
  • Total Full Baths: 1
  • Main Full Bathrooms: 1

Exterior Features

  • Construction Materials: Brick 4 Sides
  • Patio And Porch Features: Deck

Garage/Parking

  • Parking Features: Parking Lot

Utilities

  • Security: Security Gate
  • Cooling: Central Air
  • Heating: Electric

Condo/Co-op/Association

  • HOA Fee Includes: Maintenance Exterior, Maintenance Grounds, Trash, Water
  • Community Features: Gated
  • Association Fee: 200
  • Association Fee Frequency: Monthly
  • Master Association Fee Frequency: Annually
  • Association: Yes
  • Subdivision Complex: Capital City Square Condos

Schools

  • Elementary School: Paul L. Dunbar
  • Middle School: Martin L. King Jr.
  • High School: Maynard Jackson

Lot Info

  • Deed Book: 53665
  • Deed Page: 3
  • Parcel Number: 14 007600101360
  • Property Attached Yn: Yes

Tax Info

  • Taxes: 367.00
  • Assessor Parcel Number: 14-0076-0010-136-0
  • Close Date: 2017-10-30
  • Tax Year: 2016

MLS Schools

  • Elementary School: Paul L. Dunbar
  • High School: Maynard Jackson
  • Middle School: Martin L. King Jr.

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 10, 2017
Closed on
Oct 30, 2017
Sold by
Capital Wit Holdings Llc
Bought by
Pham Lilly Ann
Seller's Agent
Patrick Peyer
Keller Williams Realty Metro Atlanta
Buyer's Agent
Khoa Do
International Real Estate Dream, LLC.
List Price
$89,900
Sold Price
$84,000
Premium/Discount to List
-$5,900
-6.56%
Current Estimated Value
$135,849

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$51,849
Avg. Annual Appreciation
6.80%

Purchase Details

Listed on
Dec 30, 2013
Closed on
Mar 12, 2014
Sold by
Federal National Mortgage Association
Bought by
Capital Wit Holdings Llc
Seller's Agent
RICK HALE
Keller Wms Re Atl Midtown
Buyer's Agent
Kristen Moore
NOT A VALID MEMBER
List Price
$39,900
Sold Price
$26,900
Premium/Discount to List
-$13,000
-32.58%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
36.73%

Purchase Details

Closed on
Dec 3, 2013
Sold by
Green Tree Servicing Llc
Bought by
Federal National Mtg Associati

Purchase Details

Closed on
Mar 31, 2005
Sold by
Formwalt Court Llc
Bought by
Guidry Evon C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$18,980
Interest Rate
5.74%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Pham Lilly Ann $84,000 --
Capital Wit Holdings Llc $26,900 --
Federal National Mtg Associati $71,328 --
Green Tree Servicing Llc $71,328 --
Guidry Evon C $94,900 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Capital Wit Holding Llc $1,440,000
Previous Owner Guidry Evon C $18,980
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/30/2017 10/30/17 Sold $84,000 -6.6% $144 / Sq Ft
10/22/2017 10/22/17 Pending -- -- --
10/10/2017 10/10/17 For Sale $89,900 +234.2% $154 / Sq Ft
03/12/2014 03/12/14 Sold $26,900 -32.6% $46 / Sq Ft
02/10/2014 02/10/14 Pending -- -- --
12/30/2013 12/30/13 For Sale $39,900 -- $68 / 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
2025 $1,927 $52,760 $6,680 $46,080
2023 $2,501 $60,400 $7,640 $52,760
2022 $1,509 $37,280 $4,720 $32,560
2021 $1,466 $36,200 $4,560 $31,640
2020 $1,465 $35,760 $4,520 $31,240
2019 $138 $38,360 $4,160 $34,200
2018 $1,038 $25,080 $3,000 $22,080
2017 $366 $8,480 $1,560 $6,920
2016 $367 $8,480 $1,560 $6,920
2015 $368 $8,480 $1,560 $6,920
2014 -- $8,480 $1,560 $6,920
Source: Public Records

Agents Affiliated with this Home

  • Patrick Peyer

    Seller's Agent in 2017

    Patrick Peyer

    Keller Williams Realty Metro Atlanta

    (404) 564-5560

    134 Total Sales

    Section Image
  • Khoa Do

    Buyer's Agent in 2017

    Khoa Do

    International Real Estate Dream, LLC.

    (678) 481-1483

    60 Total Sales

    Section Image

  • R

    Seller's Agent in 2014

    RICK HALE

    Keller Wms Re Atl Midtown

  • K

    Buyer's Agent in 2014

    Kristen Moore

    NOT A VALID MEMBER

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Map

Source: First Multiple Listing Service (FMLS)

MLS Number: 5919170

First Multiple Listing Service (FMLS)

APN: 14-0076-0010-136-0

Georgia Fulton County Atlanta 30312 Mechanicsville

571 Formwalt St SW Unit 5, Atlanta, GA

This home is located at 571 Formwalt St SW Unit 5, Atlanta, GA 30312 since 10 October 2017 and is currently estimated at $136,291, approximately $233 per square foot. This property was built in 1961. 571 Formwalt St SW Unit 5 is a home located in Fulton County with nearby schools including Dunbar Elementary School, King Middle School, and Maynard Holbrook Jackson High School.

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