1060 Broadway

1060 Broadway has been categorized by the local assessors in Somerville, MA as a commercial type of property. The building on the property was first built in 1973 and is 51 years old. The building has a total of 2 stories. The area measurement of the land has been determined as 55,998 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. 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 steel control joints. The building has a flat style roof made of tar and gravel. The exterior walls of the building are made of stucco. The inside of the home is being cooled with air conditioning at the moment. In terms of heating, it is utilizing a forced air unit and being fueled with gas. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Based on our sources, 1060 Broadway was last sold in Nov 3, 2021 for $799,428. According to our calculations, that's $10.77 per sqft. Prior to that sales transaction, the property was sold for $1,508,000 in Oct 19, 2021. Current property owners are expected to pay $0 in taxes per year. The property on 1060 Broadway was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $19,432,500. To break that down further, the land itself was valued at $1,711,300. While improvements to the property were assessed at a total of $17,721,200. Based on our records, the total assessed value for this property has been marked as more than the total market value as of this moment. Which is pretty atypical. 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.