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598 Formwalt St SW
Multi-Family
New
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$1,120,000

598 Formwalt St SW, Atlanta

0 bd·0 ba·0 sqft
Built 20258,015 sqft lotMechanicsville

598 Formwalt St SW, Atlanta, GA

0 bd · 0 ba · 0 sqft Multi-Family listed at $1,120,000, built in 2025 in the Mechanicsville neighborhood.

About this home

An exceptional investment opportunity awaits in the heart of Atlanta. This stunning modern duplex offers approximately 4,800 square feet of total living space and income-producing potential from day one. With a recent appraisal of $1,210,000, instant equity is built in from the start. No HOA and two thoughtfully designed units offer the kind of flexibility and freedom that is rarely found at this level. Unit A features approximately 2,400 square feet, 4 bedrooms, 3.5 bathrooms, an upper-level primary suite with a spa-inspired ensuite and custom walk-in closet, and a driveway accommodating up to 5 vehicles. Unit B offers approximately 2,400 square feet, 4 bedrooms, 2.5 bathrooms, and a serene primary on the main. Both units feature open concept floor plans with thoughtful design details throughout. Unit B is an active Airbnb rental being sold with all appliances and furniture included, making this a seamless investment from day one. Unit A is equally positioned for rental conversion. Whether you are an investor seeking immediate cash flow, a house hacker looking to live in one unit while generating rental income from the other, or a savvy buyer looking to build wealth through Atlanta's booming short-term rental market, this property was made for you. With the FIFA World Cup coming to Atlanta, demand for short-term rentals in this corridor is only expected to surge. Nestled on a charming cobblestone street minutes from Downtown Atlanta, the BeltLine, Mercedes-Benz Stadium, State Farm Arena, and Interstates I-20, I-75, and I-85, the location is unmatched. Preferred lender incentive available. Stop by and view in person 2-4 p.m. on May 2nd.

Property details

Price
$1,120,000
Bedrooms
0
Bathrooms
0
Year built
2025
Lot size
8,015 sqft
Type
Multi-Family
Days on market
12
Est. property tax
$10,304/yr · $859/mo · 0.92% GA avg
Last sold
$20,000 · Aug 2016

Estimated monthly payment

Down payment20% ($224,000)
Interest rate6.75%
Principal & Interest$5,811
Property Tax$1,027
Insurance$150
Total$6,988/mo

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Price history

$1.26M$577K$-112K$495K on Jul 23 (Initial list)$495K on Jul 23 (Initial list)$495K on Oct 23 (Sold)$495K on Oct 23 (Initial list)$3K on Jul 25 (Price change)$3K on Aug 25 (Price change)$3K on Nov 25 (Price change)$1.15M on Dec 25 (Initial list)$1.15M on Dec 25 (Initial list)$1.13M on Feb 26 (Price change)$1.13M on Feb 26 (Price change)$1.13M on Mar 26 (Price change)$1.12M on Apr 26 (Initial list)$1.12M on Apr 26 (Initial list)$1.12M on Apr 26 (Initial list)$1.12M on Apr 26 (Initial list)
$495K · Jul 23$1.12M · Apr 26
  1. Apr 13, 2026$1,120,000Initial list price
  2. Apr 13, 2026$1,120,000Initial list price
  3. Apr 13, 2026$1,120,000Initial list price
  4. Apr 13, 2026$1,120,000Initial list price
  5. Mar 30, 2026$1,125,000Price change
  6. Feb 13, 2026$1,125,000Price change
  7. Feb 12, 2026$1,125,000Price change
  8. Dec 23, 2025$1,150,000Initial list price
  9. Dec 23, 2025$1,150,000Initial list price
  10. Nov 1, 2025$3,000Price change
  11. Aug 20, 2025$3,000Price change
  12. Jul 17, 2025$3,000Price change
  13. Oct 12, 2023$495,000Initial list price
  14. Oct 11, 2023$495,000Sold
  15. Jul 26, 2023$495,000Initial list price
  16. Jul 24, 2023$495,000Initial list price

Location

This home is located in Atlanta, GA. Browse more Atlanta listings on the Atlanta market page or explore the full Atlanta market report.

About Atlanta: Atlanta is the capital and most populous city of the U.S. state of Georgia. It is the county seat of Fulton County and extends into neighboring DeKalb County. With a population of 498,715 at the 2020 census and an estimated 520,070 in 2024, Atlanta is the eighth-most populous city in the Southeast and the 36th-most populous city in the United States. Atlanta is classified as a Beta+ global city. The Atlanta metropolitan area has an estimated population of over 6.4 million and is the sixth-largest metropolitan area in the United States. Situated among the foothills of the Appalachian Mountains at an elevation of just over 1,000 feet (300 m) above sea level, Atlanta features a unique topography that includes rolling hills, lush greenery, and the densest urban tree coverage of any major city in the United States. (source: Wikipedia)

Climate: Average year-round temperature is 63°F with 206 dry days per year and 48.8 inches of annual rainfall.

Location

Map of 598 Formwalt St SW, Atlanta
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Home Intelligence

Neighborhood (zip 30312)

This neighborhood is primarily renter-occupied (36% owner-occupied). Median age is 32.1; 34% hold a bachelor's degree; median household income is $70,540.

Median income
$70,540
Median age
32.1
Owner-occupied
35.9%
Bachelor's degree
33.5%
Census median home value
$452,900

Source: US Census Bureau American Community Survey 5-year estimates.

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