Seller's Agent in 2019
Marc Takacs
Keller Williams Premier
(706) 237-8125
74 Total Sales
720 Formwalt St SW Atlanta, GA 30315
Mechanicsville NeighborhoodEstimated Value: $618,000 - $821,000
2
Beds
1
Bath
--
Sq Ft
0.5
Acres
Highlights
- 0.5 Acre Lot
- Four Sided Brick Exterior Elevation
- Level Lot
About This Home
As of May 2019AWESOME investment opportunity! Both 720 and 728 Formwalt are being sold together. These are 1950's brick buildings needing full renovation. Opportunity to earn $1300 - $1400 monthly/unit in rents! There are a total of 16 units with both buildings just waiting on the savvy investor to snag them up. Both communities are on a little over half an acre. Renovate and collect rent for years to come or assemble the lots for a larger project. Zoning is SPI-18 SA4 and other apartment buildings in the area are listed around $120k/unit. Close to GA State and a resurgent downtown.
Last Agent to Sell the Property
Keller Williams Premier License #272594 Listed on: 01/11/2019
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,187
Year Built
- Built in 1960
Lot Details
- 0.5 Acre Lot
- Level Lot
Home Design
- Fixer Upper
- Composition Roof
- Four Sided Brick Exterior Elevation
Parking
- 1 Parking Space
- Varies By Unit
Schools
- Paul L. Dunbar Elementary School
- Martin L. King Jr. Middle School
- Maynard Jackson High School
Utilities
- Heating System Uses Natural Gas
Community Details
- 16 Units
- Mechanicsville Subdivision
Listing and Financial Details
- Legal Lot and Block 28 / 5
- Assessor Parcel Number 14 007500050287
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 11, 2019
Closed on
May 7, 2019
Sold by
Formwalt Properties Llc
Bought by
Formwalt Village Llc
Seller's Agent
Marc Takacs
Keller Williams Premier
Buyer's Agent
Alan Corey
EXP Realty, LLC.
List Price
$850,000
Sold Price
$850,000
Total Days on Market
13
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$130,500
Avg. Annual Appreciation
-2.70%
Original Mortgage
$1,094,720
Interest Rate
4.1%
Mortgage Type
Commercial
Purchase Details
Closed on
Apr 15, 2010
Sold by
Pittman Jannie
Bought by
Sullivan Didem
Purchase Details
Closed on
Jan 28, 2004
Sold by
City Property Investments Llc
Bought by
Pittman Jannie
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$243,080
Interest Rate
5.77%
Mortgage Type
Commercial
Purchase Details
Closed on
May 17, 2000
Sold by
Epps Jerry D
Bought by
City Prop Invst Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$175,200
Interest Rate
8.2%
Mortgage Type
Commercial
Purchase Details
Closed on
May 27, 1994
Sold by
Murphy Christine A
Bought by
Epps Jerry D
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$40,000
Interest Rate
8.24%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 22, 1993
Sold by
Murphy Christopher J
Bought by
Murphy Christine A
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Formwalt Village Llc | $850,000 | -- | |
| Sullivan Didem | $50,000 | -- | |
| Pittman Jannie | $303,900 | -- | |
| City Prop Invst Llc | $190,000 | -- | |
| Epps Jerry D | $80,000 | -- | |
| Murphy Christine A | $15,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Formwalt Village Llc | $1,853,000 | |
| Closed | Formwalt Village Llc | $1,094,720 | |
| Previous Owner | Pittman Jannie | $243,080 | |
| Previous Owner | City Prop Invst Llc | $175,200 | |
| Previous Owner | Epps Jerry D | $40,000 | |
| Closed | Epps Jerry D | $28,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/03/2019 05/03/19 | Sold | $850,000 | 0.0% | -- |
| 01/24/2019 01/24/19 | Pending | -- | -- | -- |
| 01/11/2019 01/11/19 | For Sale | $850,000 | -- | -- |
Source: First Multiple Listing Service (FMLS)
Tax History Compared to Growth
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 | $957 | $30,000 | $20,000 | $10,000 |
| 2022 | $1,214 | $30,000 | $20,000 | $10,000 |
| 2021 | $1,242 | $30,000 | $20,000 | $10,000 |
| 2020 | $1,229 | $30,000 | $20,000 | $10,000 |
| 2019 | $837 | $30,000 | $20,000 | $10,000 |
| 2018 | $1,242 | $30,000 | $20,000 | $10,000 |
| 2017 | $1,296 | $30,000 | $20,000 | $10,000 |
| 2016 | $866 | $20,000 | $10,000 | $10,000 |
| 2015 | $1,322 | $20,000 | $10,000 | $10,000 |
| 2014 | $907 | $20,000 | $10,000 | $10,000 |
Source: Public Records
Agents Affiliated with this Home
-
Marc Takacs
-
Alan Corey
Buyer's Agent in 2019
Alan Corey
EXP Realty, LLC.
(646) 554-3320
103 Total Sales
Map
Source: First Multiple Listing Service (FMLS)
MLS Number: 6118889
APN: 14-0075-0005-028-7
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