$1,484 Closing Credit¹
#7525289, Pratik Karan, Listing office: Dalton Wade, Inc.
$125,000 List price
561 Formwalt St SW Unit 5 Atlanta, GA 30312
$1,484
Closing credit¹
2 beds
2 full
583 sqft
0.01 acres
$214 / sqft
Condo
Property details
About 561 Formwalt St SW Unit 5
Location! REDUCED MOTIVATED SELLER AND $10,000 towards downpayment with the help of the $10,000 Homebuyer Access grant as a primary residence purchase...Perfect first-time home buyer or Investor, no Rental Restrictions. The unit is currently rented for 1250 to a long-term tenant. It is very easy to find new tenants or increase rent. Also, it can be bought as a package with two other units in the same complex. Additional Unit 8 is rented for 1200 to a long term tenant. And 571 Formwalt unit 7 is rented for 1200. There are no Seller Disclosure as the seller has not lived there.
Highlights
Home typeCondominium
HeatingCentral
StatusActive
CoolingCeiling Fan(s), Central Air
Size583 sqft
Lot size0.0134 Acres
Year built1961
ParkingAssigned, On Street, Parking Pad
MLS #7524995
ViewOther
Summary
- Full Bathrooms: 2
- Appliances: Dishwasher, Disposal, Electric Range, Electric Water Heater
- Basement: No
- Flooring Type: Hardwood
- Interior: Other
- Fireplace: None
- Total Bedroom Count: 2
- Attached Garage: No
- Private Pool: No
- Parking: Assigned, On Street, Parking Pad
- Waterfront: None
- View: Other
- Exterior: None
- Architectural Style: Mid-Rise (up to 5 stories)
- Heating: Central
- Cooling: Ceiling Fan(s), Central Air
- List Price: $125,000
- Price/SqFt: $214
- HOA Amount: $0
- Annual Tax Amount: $2,500
- Tax Year: 2023
- Lot: Other
- Directions: As Is
- Year Built: 1961
- Living Area: 583 SqFt
- Lot Size: 0.0134 Acres
- MLS Number: 7524995
- MLS Name: First Multiple Listing Service
- Office Name: Dalton Wade, Inc.
- Office Phone: (888) 668-8283
- Listing Agent: Pratik Karan
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please Click Here to review our DMCA and learn how to submit a takedown request. Information is deemed reliable but is not guaranteed. © 2025 First Multiple Listing Service, Inc.
IDX Provided by Rocket Homes Real Estate, LLC
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/13/2025, 2:45:26 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$125,000
561 Formwalt St SW Unit 5
$1,484
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Feb 03, 2016 | Home Sold | $47,500 |
| May 08, 2013 | Home Sold | $37,500 |
| Jul 03, 2012 | Home Sold | $19,500 |
| Apr 25, 2005 | Home Sold | $94,900 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $60,400 | $2,500 |
| 2022 | $37,280 | $1,543 |
| 2021 | $36,200 | $1,607 |
| 2020 | $35,760 | $1,480 |
| 2019 | $38,360 | $1,576 |
| 2017 | $10,200 | $440 |
History based on county public records data.
Nearby schools
3
Dunbar Elementary School
Public District PK-5
0.4 mi
•500 Whitehall Ter SW
4
Gideons Elementary School
Public District PK-5
0.8 mi
•897 Welch St SW
4
Barack & Michelle Obama Academy
Public District PK-5
1.1 mi
•970 Martin St SE
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $23,549. Most Atlanta, GA residents have annual incomes less than $<35k. Typical family type is single, no kids. Most residents in this area have post secondary degree education.
How much money do the neighbors make?
65%
<35k
28%
35k-100k
7%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
73%
Single, No Kids
19%
Single, with Kids
6%
Married, No Kids
2%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
14%
<11 yrs old
8%
12-17 yrs old
25%
18-34 yrs old
47%
35-64 yrs old
6%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
Mexican League Soccer
Major League Soccer (MLS)
Where do the neighbors shop?
Burlington
H&M
Foot Locker
Where do the neighbors go to eat?
White Castle
Boston Market
Little Caesars
What do the neighbors drive?
Kia
Honda
Dodge
What do the neighbors listen to?
Urban Adult Contemporary
Rhythmic Contemporary Hits
News
All data provided by Home Junction and Claritas
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Frequently asked questions
About 561 Formwalt St SW Unit 5
The listing price of 561 Formwalt St SW Unit 5 property is $125,000.
The property 561 Formwalt St SW Unit 5 is a condo located in Atlanta, Georgia, 30312.
Active Listing: 561 Formwalt St SW Unit 5 is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 561 Formwalt St SW Unit 5 are: Dunbar Elementary School (GreatSchools Rating 3/10), Gideons Elementary School (GreatSchools Rating 4/10), Barack & Michelle Obama Academy (GreatSchools Rating 4/10), Martin Luther King Jr. Middle School (GreatSchools Rating 3/10), Imagine Wesley International Academy Charter Facility (GreatSchools Rating 3/10), Herman J. Russell West End Academy (GreatSchools Rating 2/10), G. W. Carver High School (GreatSchools Rating 1/10), Early College High School at Carver (GreatSchools Rating 4/10), Booker T. Washington High School (GreatSchools Rating 2/10).
According to the records, the last property tax for 2023 is $2,500 (source: MLS/based on county public records data).
The last sale was on February 3, 2016 for $47,500 (source: MLS/tax record).
The property at 561 Formwalt St SW Unit 5 has 2 bedrooms and 2 bathrooms.
The property 561 Formwalt St SW Unit 5 is 583 SqFt (source: MLS/tax record).
The year of construction for 561 Formwalt St SW Unit 5 is 1961.
This home is located at 561 Formwalt St SW Unit 5 in Atlanta, GA and zip code 30312 in the Southwestern Atlanta neighborhood. This 583 square foot home, which was built in 1961, sits on a 0.01 acre lot. Features: 2 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since February 14, 2025 and is currently priced at $125,000.
Atlanta, GA housing market in May 2025 saw over 303 listings sold above listed price, more than 266 sold at listed price and over 629 sold below. In May 2025 in Atlanta, GA there were 12.7% more homes for sale than in April. In May 2025 median list price was $425,128 and the average listing age was 41 days.
From Rocket Homes Real Estate and based on county public records data.