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561 Formwalt St SW Unit 5
Condo
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$135,000

$232/sqft

561 Formwalt St SW Unit 5, Atlanta

86% below median
2 bd·1 ba·583 sqft
Built 1961566 sqft lotMechanicsville

561 Formwalt St SW Unit 5, Atlanta, GA

2 bd · 1 ba · 583 sqft Condo listed at $135,000, built in 1961 in the Mechanicsville neighborhood.

About this home

Enjoy in-town living in this beautifully updated bottom-floor condo in the heart of Mechanicsville, just steps from the BeltLine. This Art-Deco-inspired home features exposed brick, hardwood floors throughout, stainless steel appliances, granite countertops, and a modern tiled bath with updated finishes. Fresh paint enhances the space, while city views add to the urban appeal. The home is all-electric, helping keep utility costs low, and includes a washer and dryer in the unit, a security system, and private parking within a quiet, gated community.

Property details

Price
$135,000
Bedrooms
2
Bathrooms
1
Interior
583 sqft
Price / sqft
$232
Year built
1961
Lot size
566 sqft
Type
Condo
Days on market
79
Est. property tax
$1,242/yr · $104/mo · 0.92% GA avg
HOA
$399/mo
Last sold
$47,500 · Feb 2016

Estimated monthly payment

Down payment20% ($27,000)
Interest rate6.75%
Principal & Interest$700
Property Tax$124
Insurance$150
Total$974/mo

Can I afford this?

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Price history

$165K$75K$-14K$95K on Apr 05 (Sold)$1K on Jan 08 (Price change)$1K on May 09 (Price change)$1K on May 09 (Price change)$1K on Aug 09 (Price change)$1K on Aug 09 (Price change)$1K on Jun 10 (Price change)$25K on Feb 12 (Initial list)$25K on Feb 12 (Initial list)$20K on Apr 12 (Sold)$20K on Jun 12 (Sold)$38K on May 13 (Sold)$55K on Nov 15 (Initial list)$55K on Dec 15 (Price change)$55K on Jan 16 (Relisted)$48K on Jan 16 (Sold)$1K on Jan 25 (Price change)$1K on Feb 25 (Price change)$140K on Feb 25 (Initial list)$140K on Feb 25 (Initial list)$135K on May 25 (Price change)$130K on May 25 (Price change)$125K on May 25 (Price change)$150K on Jun 25 (Price change)$118K on Jun 25 (Price change)$140K on Aug 25 (Price change)$118K on Aug 25 (Price change)$118K on Aug 25 (Initial list)$118K on Aug 25 (Initial list)$118K on Dec 25 (Price change)$1K on Feb 26 (Price change)$1K on Feb 26 (Price change)$135K on Feb 26 (Initial list)$135K on Feb 26 (Initial list)$1K on Feb 26 (Price change)$1K on Feb 26 (Price change)$1K on Feb 26 (Price change)
$95K · Apr 05$1K · Feb 26
  1. Feb 18, 2026$1,300Price change
  2. Feb 18, 2026$1,300Price change
  3. Feb 17, 2026$1,250Price change
  4. Feb 5, 2026$135,000Initial list price
  5. Feb 5, 2026$135,000Initial list price
  6. Feb 4, 2026$1,250Price change
  7. Feb 3, 2026$1,250Price change
  8. Dec 1, 2025$117,500Price change
  9. Aug 23, 2025$117,500Initial list price
  10. Aug 23, 2025$117,500Initial list price
  11. Aug 1, 2025$117,500Price change
  12. Aug 1, 2025$140,000Price change
  13. Jun 27, 2025$117,500Price change
  14. Jun 13, 2025$150,000Price change
  15. May 25, 2025$125,000Price change
  16. May 24, 2025$130,000Price change
  17. May 10, 2025$135,000Price change
  18. Feb 20, 2025$140,000Initial list price
  19. Feb 14, 2025$140,000Initial list price
  20. Feb 4, 2025$1,250Price change
  21. Jan 30, 2025$1,250Price change
  22. Jan 19, 2016$47,500Sold
  23. Jan 4, 2016$55,000Relisted
  24. Dec 23, 2015$55,000Price change
  25. Nov 5, 2015$55,000Initial list price
  26. May 8, 2013$37,500Sold
  27. Jun 22, 2012$19,500Sold
  28. Apr 3, 2012$19,500Sold
  29. Feb 17, 2012$24,500Initial list price
  30. Feb 16, 2012$24,500Initial list price
  31. Jun 15, 2010$950Price change
  32. Aug 6, 2009$950Price change
  33. Aug 5, 2009$950Price change
  34. May 29, 2009$950Price change
  35. May 5, 2009$950Price change
  36. Jan 15, 2008$950Price change
  37. Apr 25, 2005$94,900Sold

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 561 Formwalt St SW Unit 5, 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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