Newly Built Duplex with
For Sale
$950,000
598 Formwalt St Sw, Atlanta, GA 30312
Two open-concept residences include appliances, distinct primary suites, and flexible furnished rental-use potential.
Property Size4,800 SF
Price / SF$197.92
Days on Market201
Property Features for 598 Formwalt St Sw
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
5
Property subtype
Residential
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 4BR/3.5BA, 1 x 4BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,548
Building Details
Buildings
1
Listing Agency:
Noble Realty Partners, LLC
Listed By:
Karimah Noble
(470) 945-4243
Source:
Exprealty
Added: Mar 31
Changed: Oct 15
Last Checked: Oct 16 at 9:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Noble Realty Partners, LLC
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Investment Insights
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Completed as a modern duplex, this property contains 4800 square feet of combined living area across two 2400-square-foot residences. Each unit features an open-concept layout and appliances. Unit A offers 4 bedrooms and 3.5 bathrooms, including an upper-level primary suite with an ensuite bath and custom walk-in closet. Unit B includes 4 bedrooms and 2.5 bathrooms, with its primary suite positioned on the main level.
A private driveway accommodates up to 5 cars. Unit B operates as a furnished Airbnb with 5-star reviews and is conveyed with furniture and appliances; Unit A also includes appliances. The property is located on Formwalt Street in Atlanta, near Downtown, the BeltLine, Mercedes-Benz Stadium, State Farm Arena, and GA State Stadium. Access to I-20, I-75, and I-85 is also nearby.
A private driveway accommodates up to 5 cars. Unit B operates as a furnished Airbnb with 5-star reviews and is conveyed with furniture and appliances; Unit A also includes appliances. The property is located on Formwalt Street in Atlanta, near Downtown, the BeltLine, Mercedes-Benz Stadium, State Farm Arena, and GA State Stadium. Access to I-20, I-75, and I-85 is also nearby.
Key Highlights
- Newly constructed duplex with 4800 square feet of combined living space
- Two 2400‑square‑foot units, each with 4 bedrooms
- Unit A includes 3.5 bathrooms and an upper‑level primary suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,154
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,080
$1.1M
Cap Rate 7%
$816,486
$816.5K
Cap Rate 9%
$635,044
$635.0K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$86.4K $18.00/SF
− Vacancy
−$4.8K −$0.99/SF
EGI
$81.6K $17.01/SF
− OpEx
−$24.5K −$5.10/SF
NOI
$57.2K $11.91/SF
Area
Atlanta, GA
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,080
Cap Rate 7%
$816,486
Cap Rate 9%
$635,044
Alternative Uses
Best Use
Multifamily LT 5
$816.5K
$714.4K – $952.6K
NOI $57,154 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$756.4K
$661.8K – $882.4K
NOI $52,945 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$1.34M
$1.17M – $1.57M
NOI $93,925 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
959
Businesses Nearby
Explore this area
Business Placement
Demographics for 30312, GA
25,435
Population
15,787
Households
1.6
Avg Household Size
34
Median Age
65%
College-Educated
92%
High-School Grad
3.3 sq mi
ZIP Area
7,708
Density / Sq Mi
$75,963
Median Household Income
$70,268
Median Earnings
$1,594
Median Rent
$493,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two open-concept residences include appliances, distinct primary suites, and flexible furnished rental-use potential.
Where is this duplex located?
The property is located at 598 Formwalt St Sw Atlanta, GA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Newly constructed duplex with 4800 square feet of combined living space; Two 2400‑square‑foot units, each with 4 bedrooms; Unit A includes 3.5 bathrooms and an upper‑level primary suite
