INVESTOR SPECIAL! EXCEPTIONAL INTOWN ATLANTA VALUE – CASH BUYERS, TAKE NOTICE! Opportunity knocks! Offered at a newly reduced price, this two-bedroom, one-bathroom condo presents an attractive opportunity for investors seeking an affordable addition to their rental portfolio in a highly convenient intown Atlanta location. With its desirable location, dedicated gated parking, and low-maintenance lifestyle, this property offers excellent potential as a long-term rental for students, young professionals, and anyone wanting convenient access to Atlanta's employment, education, and entertainment districts. Inside, you'll find original hardwood floors, a freshly painted interior, and thoughtful updates that make this property move-in ready. The refreshed kitchen features a brand-new range and refrigerator, ample cabinet space, and plenty of natural light. Well-maintained HVAC and appliances, along with an EV charging station and dedicated parking within the gated area, add to the property's appeal. Location is everything, and this one delivers! Just minutes from Georgia State University, Downtown Atlanta, Summerhill, Mercedes-Benz Stadium, State Farm Arena, Centennial Olympic Park, the Atlanta BeltLine, restaurants, shopping, parks, MARTA, and major interstates. Its proximity to universities, business centers, and Atlanta's entertainment destinations makes this a compelling location for attracting tenants seeking convenience and accessibility. Investors should verify leasing opportunities and restrictions directly with the homeowners association. Schedule your private showing today.
CondoProperty Type
1962Year Built
609 sq ftLot Size
$160Price/Sq.Ft.
$660/moHOA Dues
1 spaceParking
Listed by Leslie Rose• Berkshire Hathaway HomeServices Georgia Properties
Mechanicsville, located between Downtown Atlanta and the West End, is a historic and residential Atlanta neighborhood with a rail-lined edge and a grid of porch-front streets. The neighborhood’s character concentrates around the Georgia Avenue corridor near the Atlanta University Center, where corner stores, murals, and campus foot traffic set the tempo. Longtime pillars include the historic Pittsburgh Yards creative campus, the Atlanta University Center institutions, and the nearby Mercedes-Benz Stadium event scene. Housing reads as early-20th-century cottages and bungalows alongside newer infill. Sidewalk walks trace toward the BeltLine’s Westside Trail and the industrial blocks around University Avenue. MARTA rail at nearby stations keeps the geography connected to the city’s core.
Provided by Walk Score and Local Logic
Offer insights
561 Formwalt St SW #10 · $99,500
$100K and above
75% chance or better to win
Why $100K+ is a strong offer
DAYS ON MARKET
82 days
The average home goes pending in 86 days.
SALE-TO-LIST
96.8%
Most homes are selling 3% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Low-flow plumbing fixtures
Double-pane windows
One common wall
Bedrooms
2 bedrooms on the main level
Bathrooms
1 full bathroom
Kitchen
Stone countertops
Dishwasher
Disposal
Electric oven
Microwave
Refrigerator
Laundry & utility
Laundry closet
Electric water heater
Flooring
Hardwood
Heating & cooling
Central electric heating
Central air conditioning
Ceiling fans
Exterior features
Balcony
Rear porch
Deck
Fenced
Home design
Condominium
One level
Parking
Parking lot
Electric vehicle charging station
1 parking space
Construction
Brick construction
Composition roof
Brick and mortar foundation
Utilities
Public water
Public sewer
220-volt electric service
Electricity, phone, sewer, water, and cable available
HOA & community
Monthly association fee includes insurance, grounds maintenance, pest control, reserve fund, security, sewer, termite service, trash, and water
24 units in the community
Electricity and solar
View estimated energy costs and solar savings for this home
INVESTOR SPECIAL! EXCEPTIONAL INTOWN ATLANTA VALUE - CASH BUYERS, TAKE NOTICE! Opportunity knocks! Offered at a newly reduced price, this two-bedroom, one-bathroom condo presents an attractive opportunity for investors seeking an affordable addition to their rental portfolio in a highly convenient intown Atlanta location. With its desirable location, dedicated gated parking, and low-maintenance lifestyle, this property offers excellent potential as a long-term rental for students, young professionals, and anyone wanting convenient access to Atlanta's employment, education, and entertainment districts. Inside, you'll find original hardwood floors, a freshly painted interior, and thoughtful updates that make this property move-in ready. The refreshed kitchen features a brand-new range and refrigerator, ample cabinet space, and plenty of natural light. Well-maintained HVAC and appliances, along with an EV charging station and dedicated parking within the gated area, add to the property's appeal. Location is everything, and this one delivers! Just minutes from Georgia State University, Downtown Atlanta, Summerhill, Mercedes-Benz Stadium, State Farm Arena, Centennial Olympic Park, the Atlanta BeltLine, restaurants, shopping, parks, MARTA, and major interstates. Its proximity to universities, business centers, and Atlanta's entertainment destinations makes this a compelling location for attracting tenants seeking convenience and accessibility. Investors should verify leasing opportunities and restrictions directly with the homeowners association. Schedule your private showing today.
FMLS #7816222
Nov 4, 2026
Relisted
—
Oct 30, 2026
Pending
—
Oct 22, 2026
Contingent
—
Oct 13, 2026
Price Changed
$99,500
$160/sq ft
Oct 1, 2026
Price Changed
$118,500
$191/sq ft
Sep 8, 2026
Price Changed
$127,000
$205/sq ft
Aug 10, 2026
Listed
$135,000
$218/sq ft
Aug 5, 2026
Coming Soon
$135,000
$218/sq ft
FMLS #7686424
Feb 19, 2026
Sold
$121,500
$196/sq ft
Feb 7, 2026
Pending
—
Jan 27, 2026
Contingent
—
Dec 19, 2025
Price Changed
$129,000
$208/sq ft
Nov 27, 2025
Listed
$138,500
$223/sq ft
Offering $4,000 in seller concessions! Welcome home to this beautifully updated 2-bedroom, 1-bath condo in the heart of Atlanta! Perfect for a first-time buyer, this move-in-ready unit blends modern updates with timeless charm, including original hardwood floors that add warmth and character the moment you walk in. Inside, you’ll enjoy a freshly painted interior, an updated kitchen with a brand-new conduction stove and new refrigerator, and a refreshed bathroom with new vanity, toilet, and resurface shower/tub. All appliances have been regularly maintained and in great working order. Located just two miles from Atlanta’s top attractions—including State Farm Arena, Mercedes-Benz Stadium, Summerhill, and GSU—you’ll be close to everything: dining, entertainment, and major transportation hubs. Best of all, this home qualifies for Invest Atlanta down-payment assistance programs with grants up to $20,000, making ownership even more achievable.If you're dreaming of an affordable, updated home in a prime location—this is it. Welcome to your Atlanta beginning!