1067 East Raines Road

1067 East Raines Road has been categorized by the local assessors in Memphis, TN as a office type of property. The building on the property was first built in 1948 and is 76 years old. However, we must point out that the home was most recently renovated and altered in 1976. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 1067 East Raines Road has 1,636 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 2,080 ft and across the front of the lot is 950 ft. The area measurement of the land has been determined as 19,760 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. We know that this is 2 code building. This code stands for "buildings that have fireproofed reinforced concrete frames carrying all wall, floor and roof loads which are all non-combustible.". 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 frame 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, 1067 East Raines Road sold most recently in Nov 5, 2015 for a total of $120,000. If you work out the math, that's approximately a cost of $73.35 per sqft. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $2,493 in taxes each year. The initial year of tax delinquency occurred in 2022. 1067 East Raines Road was most recently assessed in 2022. During this assessment, the property's total value was estimated to be about $40,920. If we break it down further, the land itself was valued at $14,240. Improvements to the property, however, were assessed at a total of $26,680. 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. Are you already in the process of closing on a property and have signed a purchase agreement? You may want to consider locking in your current mortgage rate if interest rates have been rising or seem volatile. This is what's known in the market as a mortgage rate lock (aka rate protection). However, be sure to evaluate your situation carefully before you do so. There may be certain costs associated with taking this action and you'll want to time the start of your perfectly!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.