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1056 Poplar Avenue

1056 Poplar Avenue, Memphis, TN 38105
Multifamily in North Memphis
Sold Jan 26, 2024
$1,150,000
$1,162,500 by Bank Of Utah
Mortgage Due Jan 26, 2054
Sold Jan 03, 2022
$1,200,000
$900,000 by Orion Fcu
Mortgage Due Dec 17, 2026
Nearby Listings
The property has no active listings. Please see other similar options below.
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Unit for sale at 941 FORREST, Memphis, TN 38105

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1056 Poplar Avenue has been categorized by the local assessors in Memphis, TN as a residential type of property. The building on the property was first built in 1963 and is 61 years old. The home comes with a single bedroom. Residents will have access to one full bathroom. There is one partial bathroom in the home. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 1056 Poplar Avenue has 11,100 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The linear feet between the front and back of the lot is 1,900 ft and across the front of the lot is 875 ft. The area measurement of the land has been determined as 16,720 square feet.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. Residents will have the luxury of enjoying a unknown. Moving on to the building itself. The condition of the building has been evaluated as average. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with wood control joints. From what we've gathered, the quality of these control joints have been graded with a letter grade of C by the local assessor. The exterior walls of the building are made of brick veneer. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a heating system and being fueled with gas. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 1056 Poplar Avenue sold most recently in Jan 16, 2024 for a total of $1,150,000. If you work out the math, that's approximately a cost of $103.60 per sqft. Before that, the property was also sold for $1,200,000 in Dec 17, 2021. There could be many factors that caused the property to sell at a lower price and decrease in value. Tax-wise, the current owner is expected to pay close to $17,717 in taxes each year. 1056 Poplar Avenue was most recently assessed in 2022. During this assessment, the property's total value was estimated to be about $290,840. If we break it down further, the land itself was valued at $13,360. Improvements to the property, however, were assessed at a total of $277,480. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. As you can see, there are a lot of things to consider when purchasing a home. For example, have you evaluated your own Debt-To-Income ratio (DTI) and understood how this may impact the number of loan options you have access to? Don't worry, we'll cover the basics such as what a DTI ratio is, how to calculate yours, what most lenders consider to be an ideal ratio, and also provide our tips on how you can improve your score if it is on the higher side.Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1963
  • Effective Year Built: 1963
  • Building Count: 1
  • Bedroom Count: 1
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: Average
  • Building Quality: C
  • Construction Type: Wood
  • Exterior Walls Type: Brick veneer
  • Floor Count: 1
  • Living Units: 20
  • Basement Area: 0
  • Parking Space Count: 0

    Dimensions

  • Lot Size Square Feet: 16,720
  • Lot Size Depth Feet: 1,900
  • Lot Size Frontage Feet: 875
  • Total Building Area: 11,100
  • Gross Building Area: 11,576
  • Building Area: 11,100
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: Central air conditioning
  • Heating: Yes
  • Heated Square Feet: 11,100
  • Heating Fuel Type: Gas

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: HARVEY
  • Land Acres: 0.384
  • Standard Land Use Code: Apartments (generic)
  • Legal Description 1: NS POPLAR 87.5 FT E OF COCHRAN

Ownership

  • Current Owner : RAINTREE MEMPHIS LLC
  • Previous Owner : RB 1056 POPLAR LLC
  • Owner Before Previous Owner: 1056 POPLAR AVE APARTMENTS LLC
  • Ownership Rights Codes: unknown
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Shelby County School District
  • Census Tract: 002400

Zoning

  • Zoning: RU-4

Geography

  • District: O
  • Parcel: 02-0091-0-0014
  • Lot: 3
  • Municipality: MEMPHIS
  • Latitude: 35.1452
  • Longitude: -90.0251

    Address

  • Full Address: 1056 Poplar Ave
  • Address - House Number: 1056
  • Address - Street Name: Poplar
  • Address - Suffix Type: Ave
  • State: TN
  • City Name: Memphis
  • Carrier Code: C011
  • 4-Digit Zip Code: 4799
  • Zip Code: 38105

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $17,717

    Appraisal Valuation

  • Standard Deviation: 0.4548
  • Valuation Date: Jan 27, 2024
  • Confidence Score: 9
  • Final Value: 626,453
  • High Value: 911,369
  • Low Value: 341,536

    Open Liens

  • Total Open Liens: 2
  • Total Open Liens Amount: $1,329,500
  • First Open Lien Mortgage Lender: BANK OF UTAH
  • First Open Lien Mortgage Recording Date: Jan 26, 2024
  • First Open Lien Mortgage Financing Type: Adjustable Rate
  • First Open Lien Mortgage Loan Amount: $1,162,500
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: Building or Construction Loan
  • First Open Lien Mortgage Loan Due Date: Jan 26, 2054
  • Second Open Lien Mortgage Recording Date: Jan 26, 2024
  • Second Open Lien Mortgage Loan Amount: $167,000
  • Second Open Lien Mortgage Term: 360
  • Second Open Lien Mortgage Position: 2
  • Second Open Lien Mortgage Loan Due Date: Jan 26, 2054

    Market Valuation

  • Market Total Value: $727,100
  • Market Land Value: $33,400
  • Market Improvement Value: $693,700

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $290,840
  • Assessed Land Value: $13,360
  • Assessed Improvements Value: $277,480

    Sales

  • Current Sale Contract Date: Jan 16, 2024
  • Current Sale Recording Date: Jan 26, 2024
  • Current Sale Transaction ID: 11919723170
  • Current Sale Price: $1,150,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 7010
  • Previous Sale Recording Date: Jan 03, 2022
  • Previous Sale Contract Date: Dec 17, 2021
  • Previous Sale Amount: $1,200,000
  • Previous Sale Document Type: Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: BANK OF UTAH
  • First Mortgage Transaction Date: Jan 26, 2024
  • First Mortgage Loan Amount: $1,162,500
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: Building or Construction Loan
  • Second Mortgage Transaction Date: Jan 26, 2024
  • Second Mortgage Loan Amount: $167,000
  • Second Mortgage Terms: 360

    Financing

  • First Mortgage Financing Type: Adjustable Rate

    Previous Mortgages

  • Previous Mortgage Lender: ORION FCU
  • Previous Mortgage Transaction Date: Jan 03, 2022
  • Previous Mortgage Loan Amount: $900,000
  • Previous Mortgage Term: 60
  • Previous Mortgage Loan Type: Commercial
  • Previous Mortgage Loan Due Date: Dec 17, 2026

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Frequently Asked Questions

What neighborhood is 1056 Poplar Avenue located in?
The 1056 Poplar Avenue is a multifamily located in the neighborhood of North Memphis in North Memphis, Memphis.
What is the average sales price for listings in 1056 Poplar Avenue?
The average sales price for units in 1056 Poplar Avenue is $0 currently.

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